up 65%. aig was also active. a lot of volume there, above the ten-day average. on a couple of pieces of news, the gao issued a report saying it's questionable whether or not aig will ever be able to repay the loans it has with the government. at the same time the head of the house oversight committee, we should take a look at a restructuring proposal that has been issued by the company's former ceo on restructuring the government bailout are the insurance aig. a gain today on the session. bank of america active late in the day. close to exiting a loss sharing agreement with the government. this was never formally signed by bank of america and the government. the government, though, said it helped the company's shares. for the markets today, a mixed day with the dow off 41 points. nasdaq showing strength. i better turn it back to maria bartiromo. >> thanks very much. see you a little later, mary thompson. the other business headlines we're following tonight.

the fifth straight monthly gain, giving more indication that the economy is in fact recovering. some economists are cautious on the high unemployment rate, and believe that will curb growth in the future over the ner term. 9 chairman of the s.e.c. proposing net neutrality rules which would force all internet providers, including wireless companies, to treat all web traffic equally. it instituted, it would be a big win for consumers. a blow to internet providers w.h.o. say they have the right to control traffic on their own network. oil prices, a drop in chinese oil demand and stronger dollar, which makes crude more expensive. oil prices down $2.33 a barrel, finishing at $69.71 a barrel. tony dwyer with ftne equity markets. gentlemen, nice to have you on the program, as always.

>> hey, maria. >> a lot of talk today that we're going to see in the coming weeks a number of ipos coming to market. no surprise, companies choosing this environment. the market up sharply since the lows in march, to come out, go public, create more shares. what do you think that's going to do to sentiment, and to performance? >> well, i think it's about time. the market has reached a level where companies can come out and raise new capital at attractive prices. the market is willing to accept that. i think it's going to be good. i think it will help the market push higher. it is the improvement in economic fundamentals that continues to drive this market higher. and i would just note, because of the strength in technology that we've seen recently, that recent technology conferences, companies across the board have been talking about improved business conditions. that's what's driving the market. especially the technology stocks. >> would you be putting new capital to work in technology stocks tonight? >> well, the markets had a very

significant move. i would not be surprised to have a pullback, two, three, four, 5% over the next week or so. but basically, i think the primary trends of this market will be higher. there are names that i do like, line apple, like google, like research in motion, three names ho grew their earnings right through this horrific downturn. now we have an economy that's growing again, and growing pretty sharply, coming out of the recovery. so i would buy those names. >> tony, do you agree with that? i know you've been predicting good times for a while now. do you want to commit new capital tonight? >> i do. i think what we've got to do is avoid the temptation to try to catch the next 2% to 3% to 4% correction. and potentially move off the next 20% or 30% move which i think will be higher. as the other guest said. this is a fundamentally -- we don't want to admit it, you don't want to actually say things are good, but things are good. the fundamental improvement in credit is nothing short of

extraordinary. if the s&p 500 were to catch up to what's happening in the corporate credit market, you would be back to the pre-lehman markets. i think we're similar to our categorization, is that this is like 2003 on steroids. where you just get such a move in the credit, which is fueling corporate balance sheets, which ends up in shareholder-friendly moves, such as nma, which we're starting to see, clearly we're still thinking it's bullish. >> what are the groups you want to be in? obviously technology has been the leadership group. do i stay there? do i want to broaden out into international, some of the commodities-based companies? >> i think you want to stay there, maria. we also like health care. i have a valuation that i didn't get since 1993. it's a growth area that's health care due to the long-term demographics. lastly, i think one of the most exciting areas is industrials. there are some -- if you look at the past utilization, anytime

that or industrial production has been negative as it's been, and everybody's so focused on where the negatives are, but you've got to look at what happens after you have negatives like that. and you get a robust recovery, which is the whole theme behind our capital v, expectation, and the bout of economic recoveries. >> howard, what about the commercial real estate situation? a lot of people worry this is going to be the next shoe to drop. it's a 2010 affair. how might that impact market performance and what do i need to do to position myself well ahead of the possibility of weakness there? >> well, first of all, maria, it's not going to be a surprise if and when it happens. it's something that has been talked about for some time now. i also don't think that it's going to represent the kind of systemic risk that we had last year in the banking system. and most of the issues regarding commercial real estate loans are with the middle market banks as opposed to the money center banks, although there is some exposure there, too. i think investors need to be careful here in terms of where

they're putting their money in the financial services, are they investing in banks that might have exposure to commercial real estate. if so, how much. i think that it's very important here for investors to be broadly diversified. and that's by asset class and industry sector. like tony said, i do like the energy, i like the commodities, i like the technology, i like the beneficiaries of a weaker dollar. i'm not as positive as tony is on health care only because i'm concerned about reform. we don't have enough money to pay for this reform. some of that money's going to come out of the hides of the stocks, of the companies. so i would be a little bit cautious there. >> interesting point there on health care. gentlemen, great conversation as always. we appreciate your time tonight. thanks. we'll see you soon. howard, tony, thank you. let's look at some of the other stories that we're following on the "closing bell" ticker. a 35% decrease in sales. when you strip out write downs, that wasn't a much bigger loss than wall street was looking

for. it expects to be profitable next year if the economy remains stable. lenar shares down on the session by better than 3%. costco upgraded by william blair and company. because of improving same-store sales. stronger growth in the international locations and positive takeaways from the club's management at the form. costco tonight finished up nearly 2%. and amat, the firm cutting price target on the stock to $14 a share. that's down from $16. the firm telling clients it believes amat is having trouble gaining market share in the semi conductor industry. shares finished under some selling pressure. in the u.s. on the road to recovery. are there still major hurdles to be passed? an economic reality check marty feldstein coming up. my one-on-one, part two of

my interview with president clinton. he'll tell us about the economic decisions during his presidency, the impact on the current prices. we had private institutions that were too heavily leveraged that were basically generating growth and income for themselves out of turnover transactions that had no benefit for the underlying economy.

welcome back. tomorrow president bill clinton kicks off the fifth annual meeting of the clinton annual initiative. two themes have been global health and education in poorer countries. we are at the center of my conversation with the former president. global health at cgi, let's talk about -- you make some really important points. kicking off the session with the fact that more than 70 million children will not see the inside of a primary classroom, and many won't continue on to secondary school. and so many global health issues

the world faces. what can corporate america do in particular? >> well, first, let's first on the education issue, on how inexpensive it would be to put a lot of these young kids in school. when i was in my last year, we allocated $300 million of your money, tax money, to give to poor countries to feed children that were poor. if the kids would come to school to get the meal. that program's still in place. that $300 million increased school enrollment by 6 million. 50 bucks a kid. that's how much just the inducement of a good meal every day got people to school. now, i don't want to oversimplify this. you also had to have school facilities, you had to have a teacher, you need some learning materials. but the point is, it doesn't cost a lot of money in a lot of these poor countries. secondly, if you think about them as future customers, future

employees, every year of schooling in a country with a per capita income that's under $2 a day adds 10% to earnings every year for life. just one year. so you get massive benefits. i'll give you an example. i visited one of the college education programs in haiti, which i have supported, which has been a cgi participant, and they give scholarships to young haitians who go to school there if they graduate first in their school classes anywhere in rural haiti. almost all those kids -- first of all, all of them now who have graduated have stayed in haiti. they haven't left. unless they left to go to school more. nobody's chosen to make a living outside haiti. they all go to work immediately for salaries four to ten times the national average. so this is a big economic issue.

and what should be done, in my opinion, is that when -- businesses should either sponsor their own schools for either enrollment or efficient building or learning materials, supporting the teachers, or they should work through a local non-governmentable group to do that. if there is a big problem in areas where there are otherwise active. because all they're doing is making more customers for the future. and they're creating political and social stability in the country by getting kids off the streets or out of the work force and into school. >> investing in girls is a big part of the program. >> it is. >> why is it so important? what do you want people to know about the importance of investing in girls? >> well, i suppose first i should pay due homage to hillary, who has made this a big issue as her -- as secretary of state, the role of women and girls in the economy, and long-term stability of

societies, because she's been educating me about this for more than 20 years now. but i think it's very important to realize that most of the children who are out of school are girls. i think it's important to realize that in every society with all the different religious and moral standards that different societies have, the one universal thing that always lowers the birth rate is putting more girls in school and giving more young women access to the labor market. that the political em apartment # # empowerment of women leads to less human trafficking. there's still too many children sold not only into sex slavery, but into other kinds of bondage. if you look at the astonishing success of rwanda, genocide in '94, but it's still under $100 a

day. ten years later it's over $10,000 a year. it's virtually quadrupled. and also, it is the only country in the world where the majority of the parliament are women, where half the governors are, a lot of the mayors are, and where there is a deliberate decision, because of the horrible experience of the genocide, to have an equal share of the country's decision-making in the hands of women, and to make sure that all the girls are in school. so i just think it's every man who's a father of a daughter will have no problem figuring this out. but people without regard to gender identification should be for this, because it's what works to lift more countries to new heights. >> and as far as global health, what are the most important issues that corporations need to focus on? >> i think, first, the basic things. clean water.

1 billion people have no access to clean water. let's look at 25% of the deaths every year, and far more in poor countries, are from aids, tuberculosis, malaria, and infections related to dirty water. so making sure that there's elemental health care clinics and basically trained paramedical workers who can diagnose and get medicine to these people. that's really important. i find, you know, we're selling medication all over the world, and with the gates organization, malaria medicine. i mentioned our relationship with pfizer on tuberculosis. not many of these people are going to die because they can't get medicine because it's too expensive. they're going to die now because there are no health care networks out there to find them, to test them, to deliver the medicine, to check on them, see if they're taking it. so this is an enormous

opportunity for corporations, and for our country, i might add. i'll never forget, we announced this malaria program in tanzania on a sunday afternoon a couple years ago in an area that was 98% muslim. and keep in mind, tanzania is one of the places our embassy was blown up by al qaeda operate i was in 1998. so i know these people didn't agree with president bush's iraq policy. but in a village of 2,000, 12,000 people showed up for the announcement. and what those people knew about america was that -- and most of them didn't know me. i hadn't been in office for a while. they just knew the americans were coming and they wanted to live, they didn't want their children to die of malaria. this is not rocket science. this is the economic and social and political benefits of saving these children, it's

breathtaking. and so that's what i would like to see the business community focus on. we now need the kind of basic organizational structures that are second nature to business out there in the health care networks of the world. >> the economic crisis. there has been a lot of talk about what transpired throughout this crisis. what do you think, as you look back, during the years of real economic euphoria, under your presidency, when, you know, we were looking at these euphoric days, the stock market surplused. could things have been done differently? should we not have had this theme, as a country, government, the media, that everybody should own a home. what do you think perhaps the steps could have been different? >> well, i think at some point we all wanted to maximize home

ownership. we got two-thirds ownership for the first time when i was president. and i think that one of the reasons that we wanted to do it so badly, apart from the dignity, the sense of achievement it gives a family to have their own home, is that so many americans had all their savings in their home. and as you know, otherwise the savings rate of americans was quite low. even though we had a lot of prosperity. in the last decade it got to zero or negative levels. now interestingly enough, even in these tough times, it's 3% to 5%, it's coming back. so i wanted some savings out of it. and i thought we could go to two-thirds. i didn't know if we could go to 70%. i didn't have to make that decision, because when i left, it was about 67%. we began to worry in 2000 about fannie mae and freddie mac and whether the secondary mortgage institutions, whether they were taking on too much risk, but

where they really got in trouble is 2004 to 2007, you know, with all those securitized and subprime mortgages and all that. i think that really is what caused the problems. the thing that happened right after i left office, the little slowdown we had when the tech market bubble burst, i think it was just normal. you know, markets go up and down. there was a lot of exuberance. and i remember when the technology bubble burst, the demand for information technology services grew, unbelievably, from 1997 to '99. >> i remember. >> at 500% a year. well, a lot of people made investments in that market based on that projection. nothing can grow like that forever. but when it burst, it fell to a growth -- information technology services -- of 50% a year. most businesses would kill for 50% growth. in other words, it showed that

while there might have been exuberance in the investment sector, it was sort of on the top, a big long-term trend. what happened here with less oversight from the s.e.c. and with mistakes that were made both in the private sector at places like bear stearns and others, was the system crashed. so if we had a different s.e.c., it might have made a difference? perhaps. if we had moved on the risks exposure of fannie mae and freddie mac, would it have made a difference? perhaps. but the main thing is, we were -- we had private institutions that were too heavily leveraged that were basically generating growth and income for themselves, and of turnover trans actions ha had no

benefit for the underlying economy. >> should the deficit be a bigger priority then? >> i think yes, but the deficit will be a big priority, but it is very important that we not do what is now almost universally conceded that president roosevelt made a mistake when he started to bring the deficit down in 1937 before the economy had fully recovered. so what happened was, you couldn't really bring the deficit down because there wasn't enough revenue coming in. there was too much of a slowdown, and he contracted it again. i think when it's apparent that the recovery's in full harness, at that point the government will have to address the deficit. because at that point, the rest of the world will not want to buy our public debt. they'll know that we can do it. and they will expect us to stand up and do our fair share. it's clear what we ought to do. we just need to -- among other things -- go back to the simple premise that whenever we start something new, whether it's a tax cut or a program, it has to

be fully paid for by rigorous accounting rules. >> my thanks to president bill clinton. we'll be broadcasting live from the clinton global initiative beginning wednesday of this week. up next, the standoff between bank of america and the government over the bank's acquisition of merrill lynch. we've got the latest. stay with us.

welcome back. bank of america failing to meet a house panel deadline to turn over information about the bank's acquisition of merrill lynch. scott cohn with that story. >> the controversy over what bank of america knew and what it told investors and taxpayers about mounting losses and bonus payments at merrill lynch before the takeover is only intensif intensifying. b of a has until noon today to turn over documents to the reform committee which is one of the many entities investigating the merger with merrill lynch. as we first reported this afternoon, the bank missed that deadline and the committee chairman in new york is disappointed about that, according to a spokesperson. for its part, the bank is trying to ease the tensions a bit, issuing a statement that it is working with the committee on a plan to provide them with the information they need. and the meeting is scheduled in washington for tomorrow. the issue is attorney/client privilege.

b of a said the principle is sacred. it shouldn't have to expose the legal advice it got on what to tell shareholders and taxpayers, it's a matter of precedent. chairman towns and andrew cuomo is pressing his own investigation and is saying the bank is using that privilege issue as a smoke screen. unless they can come to some sort of agreement at that meeting tomorrow, the next step for the congressional committee is a subpoena. and b of a's headaches don't end there. the proposed $33 million settle with the s.e.c., the two sides have until today to present the judge with their plans for a trial that would start february 1st. also still unclear, the fate of individual executives, including ceo ken lewis. the board was reportedly meeting today to decide what to do if lewis is charged with fraud. the company would not comment or even confirm the meeting. but maria, bank of america's headaches are mounting. >> wow. all right. thanks very much, scott cohn. we'll be with you for further

developments on that. climate change has been championed by activists. more and more businesses are jumping onboard. one company taking the lead on the global issue.

welcome back. technology plays a critical role in making businesses more efficient. a big help for their bottom line, but also for the environmental impact. hewlett-packard is increasing lines of products and services aimed at efficiency while tackling its own green practices. the chief strategy and technology officer at hp, shane robinson. nice to have you on the program. welcome back to "closing bell." nice to be here. >> before i get into the green niche yeah tifs and what hp has done. where do you see as the chief strategist and technology officer at hp, where technology is going? where's the growth? >> a lot of growth is in information technology delivered through services. so services business models are evolving.

behind that is explosion in information. navigating, making sense out of information, and mobility. so those are kind of the three major trends that we see shaping the industry. >> when we had bill gates on, he said, we should worry about robots. that's really what's happening here. we've got robots getting better and better in terms of talking back, looking, feeling. >> one of the things you'll see is more and more intelligence embedded into the infrastructure. robots are part of the infrastructure. and as they get more intelligent, you can make more use out of this. >> one of the advancements that you've seen is green commitments, and your efforts as a company to change the climate. so hp is a big supporter, not just of climate week, which is this week, but in making a long-term commitment to climate change. what has the company done in this regard? >> we are a sponsor of climate week. we're here to sponsor the clinton global initiative also this week. we've done a lot over the years. we've won several awards for the work we've done in recycling. in 2004 we led the industry's establishment of a code of conduct for suppliers relative

to their carbon footprint. in the last few days, i believe it was today, we were awarded the number one green company by "newsweek." and we will continue to pursue forward-looking programs. we announced today that by 2011, all of our products and services will have their carbon footprint reduced by 40%, which relative to the 2005 emissions. >> tell me how you do that. how has technology addressed climate change and global warming. what specifically can be done through technology? >> you can use technology to address the issues around getting the information you need to make better decisions. so we can do everything from establish baselines on which we measure our carbon footprint, and then regularly put in place processes to improve on that. so it's all about how do you power and cool and the i.t.

but remember, information technology is only 2% of the global carbon footprint. so we have to address our issues, and we're working on that. but we can use information technology to help the other 98%. you can't manage what you can't measure, and you can't measure what you can't see. so information technology gives us visibility into the environment in ways we didn't have before. >> what specifically as it relates to consumer products? taking basically, talking about reducing energy use, carbon footprint. when you look at individual products. >> when you look at individual products, first of all, huge programs in recycling. secondly, we're improving the power consumption of every product using the latest technologies, everything from microprocessors to screens to batteries. so we continue to do research and investigations up to and including things like optical interconnect, which we quus in our servers and storage and pc products, to take away the need to communicate using fiber and

silicon. so you're communicating at the speed of light and you generate no heat. >> that's amazing. congratulations on all of this, by the way. before we let you go, shane, let me get your thoughts on this dell acquisition. biggest deal dell has done. we started the day off with that sector, something that you're watching closely? these two companies integrating? what do you think about this latest deal? >> we watch everything. it was interesting, you know, it's nice to see the reinforcement of our strategy. but remember, scale matters. our business will do in a year, or in a quarter what they will hopefully do in a year. and they paid a lot for it. they paid two and a half times we did for the eds acquisition. >> at this point dell's got to do something. everybody's sort of moving forward, if you will. going forward in terms of technology and innovation. where would you expect the big innovation to come? you can't say it's mobility anymore, can you?

>> no, i think you're going to see a lot more fundamental changes at the software level. you're going to see new platforms come out. you've got a lot of changes in the personal computing space, with operating systems platforms and microprocessor platforms changing. and a lot of it, again, is back to the services that people provide. so more and more, the technology world that we're used to, and the complexity of that, is made transparent to the user by software that we used to manage it all. >> and computing is a big part. >> and lay the services on top of that that people really care about. >> shane, great to have you on the program. thank you so much. >> thank you. >> chief technology officer. the g-20 meets this week in pittsburgh. chairman marty feldstein talking about what kind of impact and coordinated exit strategy could have on a global economy.

welcome back. the g-20 summit in pittsburgh, just days away. the list of challenges is long. soaring deficits, the threat of inflation, a push for action on climate change. my next guest says the g-20 leaders have to make more than em it promises. a professor at harvard

university. nice to have you on the program. thanks for spending the time with me today. >> good to be talking to you again. >> what are you expecting out of the g-20? >> i suppose in a word, nothing. there will be a great photo-op. 20 global leaders. but i don't think there will be any hard action promises. >> i hope some of them don't miss that photo-op. i think the last time we were in london, a couple of the world leaders went to the men's room. what would you like to hear out of the g-20? >> well, i would like to hear that there really are concrete plans for deficit reduction in the major industrial countries like the u.s. that have very large deficits. obviously this isn't the time to start cutting those deficits, those budget deficits. but it is the time to explain the plan and to make concrete promises about what's going to happen as the economy recovers. not just to talk vaguely about

how this will get done when the time comes. >> you know, so much debate about really making a dent into the deficit, marty. what do you think would be the most realistic? how do you do it? a lot of people talking about raising taxes, but of course we know that that revenue is not going to be enough to even make a dent in the deficit. so what should be the priorities of the administration now to really get that under control? >> well, the first thing is to stop adding to it. and the administration's proposals led by health care, but also other programs are simply pushing up the deficit. the cbo estimated earlier this year that with any of the obama proposals, the deficit a decade from now would be 2% of gdp. more or less in line with where it had been historically. now with the various obama proposals, the cbo tells us we're looking at 5%.

absolutely unprecedented as a number ten years out. so not adding those transfer programs, the $1 trillion health care costs and all that, would be the first place to go. >> i'm sure there are plenty of ways that they could actually rein in spending in terms of the plans on the table right now? >> well, absolutely. but i think it's not blowing up the things which are there, and there are various ways they could cut back. the president talks about finding $500 billion in medicare savings, and medicaid savings. well, that would help. why take that money and turn around and spend it immediately. so more of an emphasis on reducing the fiscal deficit would be key. >> let me ask you a question here, as it relates to health care, marty. i know that we're talking really broadly about the economy, and about deficits. but i really want to get your thoughts on the overall health care plan on the table. do you think it is realistic to

have a public plan where you're probably talking about fewer doctors. they were saying some doctors will not go along with it, either close up shop or go private or just get out of the overall system. so if you have fewer doctors and you're putting more people under the umbrella, 47 million americans to insure, and you want to make it cost less, does that make sense to you? how do you do that? >> the only way you do it is by rationing. the only way you do it is by saying, sorry, we're not going to do this and we're not going to do that. and that, frankly, frightens me about this program, that the government, in order to save money, will prescribe rules, not just for medicare and medicaid where the government is paying the bills, but for the programs where you and i are either paying our own bills, or buying insurance to pay our bills. >> which is why we've seen such an upset on the part of certain people who, you know, don't want

the government to be controlling their health care. okay, beyond that, the exit strategy out of the federal reserve, marty. got to get your take on this. this has become the number one issue in terms of the economy. how will the fed step away from some of the stimulus that is out there right now, even at a time when we're still talking about unemployment that could be 10%. what's your recommendation? >> well, i think ben bernanke has laid out the various technical options that they have for pulling back the 800-plus billion dollars of excess reserves that are now sitting in the commercial banks. and they haven't been tried before. there's richks. but basically i think he has a range of things from raising the interest rate on those deposits, to increasing reserve requirements, which from a technical point of view could work. what worries me is when the time comes to start tightening, maybe a year from now, or 18 months

from now, we're still going to be looking at very high unemployment rates, and i worry that the congress is going to bear down on the fed and say, hey, don't start raising interest rates yet when the unemployment rate is so high. and that's going to be a serious problem for the fed, which knows that it's going to have to start raising rates long before the economy hits full employment. >> and what are the sort of implications of that? let's say the fed does get pressure, and is reluctant to raise when you feel that we should see higher rates? >> well, if they -- if they're not able to raise when it's in their judgment time to do so, that increases substantially the risks of inflation. and even before we see the inflation, the financial markets in the u.s. and around the world are going to recognize that the fed is not -- has not been able to tighten when thought appropriate, and that's going to lead to higher long-term

interest rates. because global markets are going to be worried about the inflationary consequences. >> is inflation still as much of a threat, or more of a threat than deflation right now, in your view, or is deflation still an issue? >> i don't think deflation is a problem. i think we now have a modest low inflation rate, and the danger is what happens going forward as the economy begins to recover, and what happens to expectations on the part of the financial markets even before that tightening occurs. >> where are we right now in the economic recovery, marty? how do you see things? >> you know, i continue to think that this is a very unusual economic upturn. it's not like the usual business cycle, where by lowering interest rates, the fed starts a process which then naturally builds on itself. and so i think that the leading indicators, and other measures

are really not appropriate to the current situation. not appr the current situation. the current situation is being force fed by the fiscal stimulus, by the cash for clunkers, by the $8,000 first-time homeowner bonuses, and all of that is going to stop. we're not going to see expanding fiscal stimulus in 2010. and the other special programs are going to go away completely. so i think there's a real danger that the economy will run out of steam. >> will double dip? >> will double dip, yes. >> so you think there is a real danger of a double dip recession? >> i do, yes. >> are you worried about commercial real estate in 2010? or how worried are you? >> i think everybody's worried about it. i think it's a real disaster waiting to happen in 2010 and 2011. and really nothing is being done to fix the banking system. the administration had the

public-private investment partnership plan, but they didn't get yum take. the banks were not willing to put up whole loans, mortgage loans for sale in that partnership program, and so that's just been essentially dropped. all that remains is some of the mortgage-backed securities, a very small part of that. and so the administration is just not dealing with the banking problem, and it's not dealing with the housing problem because all of the white house emphasis is on the health care legislation. >> well, what would you like to see done on banks? >> i think they've got to go back to do something to get them -- i think the public-private investment partnership was a good idea in principle, but the banks were not prepared to take the hit to their capital that would be involved in selling off whole loans. so i think the government has to

provide some kind of backup for that. for example, saying to the banks, well, yes, if you put bad loans into the public-private investment partnership auctions and that involves a reduction in your capital, we will either have temporary forbearance or we will put up, as a government we will put up long-term loans which can be counted as capital. >> we'll leave it there. marty, always wonderful to have you on the program. we so appreciate your insights. >> good being with us. >> we will see you soon. martin feldstein is professor harvard university, former chair of the council of economic adviser under president reagan. we're going to come right back and tell you what else could move the markets on wall street when that opening bell sounds tomorrow.

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the oral-b pulsar. coming up at the top of the hour on "fast money" we'll talk about dell's shopping list and bring in the top-ranked i.p. analyst to discuss which targets may be on dell's radar screen. also we'll bring in the top-ranked chip analyst to preview the intel developers conference, which kicks off tomorrow. and a couple of suspicious stories from the options pits involving aig and perot systems. all that and much more top of the hour on "fast money." see you then.

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ceo paul otellini in a one-on-one interview. we'll talk about technology but we'll also talk about european union and antitrust. i'm diana olick in washington. home prices have been on the rise. can they continue the trend? we get a new government report tomorrow at 10:00 a.m. i'm mary thompson. this is what i'll be watching for on tuesday. three earnings reports that could give us insight into the u.s. consumer. from car max. did the used car retailer get a lift from cash for clunkers? conagra, is the food company benefitting from more people eating in? and lastly, carnival cruise lines, are prices stabilizing in the cruise industry? and before we say good night, take a look at the day on the wall street. mixed market for the most part. health care and technology the best performers. doesn't do much, though, for the dow industrials which was down 41 points, largely due to weakness today in financial services as well as oil stocks. 9,778 is where the dow finishes tonight's trading sess nasdaq was higher due to strength in tech up five points at 2,138.

and the s&p 500 as you just saw also negative. "fast money's" up next. have a wonderful evening. see you tomorrow. live from the nasdaq marketsite, this is "fast money." i'm melissa lee. stocks pulling back after touching 11-month highs last week. traders on this desk have the best ways to navigate these september swings. plus, michael dell with a blockbuster deal. we will break it down and tell you who's next on his buying list. and later, with their own bank stocks selling the most exciting financial play may just be in brazil. the ambassador will be bringing you that moneymaker a little bit later on in the show. but first let's get to the word on the street. and guys, you know, there really wasn't any reason to go up but we didn't go down either and that seems like a positive thing. >> very good news. >> we didn't go down. it's not like the s&ps would break below 1050. the dollar was strong, the commodity trade was off the table completely. oil was lower, gold was lower, copper was lower, and you know what, technology came-n technology saved the day today, pulled us off the lows. now when you look i want to see

tonight what you do overnight. let's see how the emerging markets respond. timmy, you've got to stay up tonight, let us know what's going on. >> i think the emerging markets are fine, i think the dollar has a two or three-day rally and the emerging markets are prepared for that, but i do think it was a tremendous kind of resiliency that the market showed. i look at the commodities space. look at the freeports of the world eking out small gains or finishing around flat after expectations. these are some of the heaviest momentum emerging markets slash commodity inversion dollar trades and they're fine. i'm not telling you the people who are bearish about valuations don't have a pretty good argument right now but the reality is some economies in the world are doing pretty well. >> people like mr. guy adami. >> that's me. no, look, it was an impressive die. no doubt about it. the volumes were anemic. people were are waiting for the fed meeting, people are waiting for a lot of things, frankly. but that being said, yeah, i thought the market was going to be down 200 points today. especially when oil gave up ghost the way it did. very impressive day. >>