guys, just remember, 15 seconds to the greek bond swap. "closing bell" is coming up at 3:00 eastern time. thank you for watching. >> highs and days for the market, we'll be watching the deadline, literally, two seconds from now. hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. good to see you, scott. >> good to be here, maria. i'm scott walker in for bill griffeth. it appears investors are optimistic that greece will likely clear a key threshold with private investors. with equities near session highs here at the 3:00 p.m. eastern deadline. we'll have the very latest in just a moment. but first take a look at where the major averages stand right

now. the dow jones industrials about three-quarters of 1%. the nasdaq and s&p have erased tuesday's decline at this moment. there's the nasdaq, up about 36 1/2 points or so as well. >> scott, here's a look at one of the big movers on the session today as we enter this final stretch for the day. the market is focused on coke. hitting a new high on coach. the shares reporting that the company spoke positively about the current quarter at conference today. that is really boosting the stock today. there's chatter that the stock is helping to lift the stock. take a look at coach right here. up about 5%. ceo lou frankfurt will be with us in the next hour of the "closing bell." he the outlook for high-end consumers, and also we'll also hit on what he discussed today at that conference, which is, of course, behind this big rally in the stock. the deadline has come and gone. we're talking about the deadline

on the biggest sovereign debt restructuring ever. how are investors reacting, and what should we be looking in terms of bond holders agreeing to this new deal, scott? >> let's get more insight from michelle caruso-cabrera. she's been monitoring the latest headlines from athens, along with jose, founder of ufr capital management. >> michelle, what's the latest? tell us about the participation rate in this new deal. it looks like we're getting a positive reaction from market players. but of course, the deadline just passing moments ago. >> two wire reports indicate, maria, that the participation rate is above at least 75%. so that is good enough to get this deal done somehow, some way. one mystery remains, and it's a crucial one. as they count the votes that have just come in in the last few minutes, as we move through the night here, will they cross 90%. if they cross 90%, that avoids triggering the credit default

swaps. that's what we're waiting to see at this time. >> yeah, michelle, you know, this may go a long way obviously to appeasing what the market wants. but as you know from being on the ground on greece, this doesn't do anything for the greek economy nor for the greek people. unemployment was 20% or so today? so there's still a long way to go for greece, despite what happens with the dswap deal, right? >> this debt swap deal has been torturous. but the path that greece faces right now, scott, you're absolutely right, is going to make the debt exchange look like a cake walk. the challenge greece faces now is growing this economy. can they do the very tough reforms, fight the vested interests that don't want change to happen, so that way they can actually get some economic growth so they can pay back their debt and get people back to work. >> jose, i mean, we've been waiting on this march 20th deadline with the next bond

payment. but you say this debt exchange is a watershed moment for europe. why is that? >> you're right. it's absolutely expected. i think most people think it's going to go through in relatively good terms. the issue is that i think that it changes history in three important ways. first of all, i think this exchange makes it clear that european sovereign countries can default. european countries can default. authorities said no european country could default. that has been proven wrong. >> if we were to see a default, that undermines the other economies as well. this is a stake in the ground, there will not be a default. >> absolutely. for practical purposes, this is a default. i mean, whatever we call it, this is a change in the economic terms of what bond holders were going to be paid. and there's been a lot of regulation built around the idea that sovereigns don't default, starting with bank capital

ratios. sovereign bonds are not treated as risky assets, which i think today will reveal to be nonsense. the second element, which i think is important, is that in the future, bond holders know -- private sector bond holders know they are junior to the central bank of europe. the ecb that had purchased greek bonds did not get the harsh treatment that private sector bond holders got. and number three, this is a very important one, i think, which is bonds under local law, that is the bonds that are issued under greek or spanish or -- will trade differently that bonds that are issued under english law, because if you're the bond that was issued under the local law, you know that they cannot lie there. you can be taxed, as they say, in today's terminology. >> as a hedge fund manager, as you are, how would this change the way that you go about your investing strategy in that

region here forward then? >> i think it is very important to understand what is -- what are the effects in the near term versus the long term. in the near term, europe has been boosted. but what i call shock of terror, the ltro has been an enormous boost for the financial system. but it has done nothing in terms of the questions regarding solvency of the other countries. we think the liquidity injections we can see now will have an impact for some time. >> michelle, would you agree with that, that the concerns are still there? give us your play-by-play in terms of what happens next. >> yeah, deep reforms are what needs to happen. and that's the hardest thing to get done. we see the typical reaction of what a lot of the countries, greece for an example, of how they first react to a debt

crisis. they cut salaries and they raise taxes. instead of doing things to liberalize the economy, to make it easier to hire, and yes, to fire. although it's painful, it's also a thing that makes the economy more flexible. they don't want to face that. italy has those problems too. >> that's a great point. this is sort of the mentality of the region, isn't it, in terms of the labor laws. this is probably one of the biggest issues. jose, its gee to have you on the program. >> thank you very much. >> michelle caruso-cabrera, thank you so much. >> let's look at what's driving today's rally. brian shactman with those details. >> thanks, scott. let's look at the map here. we're not far from the highs of the day, 88 plus. the highs about 94. alcoa, caterpillar at the top. at the bottom all day we've had mcdonald's, now below $100 a share. exxon mobil down 1%. energy's been a bit of a laggard

today. that's basically where it goes for that. retail, we're going to talk with coach, the ceo in the 4:00 eastern time hour. and they tested a new high of 8 $78.22. similar story for a hot topic off the highs. still up double digits after their earnings yesterday. solid 20%-plus for bonds of the i want to break it out a little. bon ton is up another 20% today. earnings weren't even very good. but the stock's been on absolute fire. 150% to the upside. they were hurt by a lot of weather issues. but the ceo was pretty optimistic. a lot of buyers going in on that name. other gainers today, sprint doing well. up about almost 8%. refiners are doing in a lagging energy stake. up almost 6.75%. i want to take a quick peek on things on the down side.

we have coal space. actually gets an upgrade from sell to fair value. and it's down 2%. down 70% in the last year. barclays cut its price target from 29 to 23. they still see upside there. finally, simon property made two deals worth about $3.5 billion. it's down because they'll have a secondary offering which will help fund those deals, down about 1%. >> thank you so much, brian. treasuries under pressure once again today. we've got rates moving higher on this debt deal. rick santelli at the cme group with that detail. >> you know, there's a lot of debate on this trading floor whether the small up yields that we are seeing is due to greece or due to maybe tomorrow's employment number. the february employment report. but no matter, if you look at the very short end in a two-year note, you'll see that it played around a bit, mostly under

unchanged and hovers unchanged. as you move up to the ten-year, we're up several basis points in yield. if you open it up to when this range really began around mid-november, you can see that a 201 yield is higher than yesterday. but it's still well contained within this 28 to 30 basis point range that we've had on a closing yield basis on the long ma turts. four months running. now, if you look at the real shaker today, that is purely what's going on in greece, i think it would have to be the euro scene. 13290. the interday chart, rather impressive. if you open it up to a oh two-week chart, what you'll see is this would be the highest close only going back one week as you can see on the two-week chart. >> thanks so much, rick santelli. >> got about 50 minutes to go before the closing bell rings. take a look at the major averages now. the dow industrials holding on to gains here with about an

89-point gain. the nasdaq and s&p have erased the two-day declines. >> one of the biggest bears is saying investors need to be cautious right now. morgan stanley u.s. chief will be with us, telling us why holding on to cyclicals could actually be dangerous for your portfolio. >> a double take on the state of the consumer. lou frankfurt and mark hoplamazian tells us whether higher gas prices will lead to cutbacks and consumer spending. >> look at the sea of green in the s&p 500, with the dow industrials up 89 points. you're watching the "closing bell" on cnbc. first in business worldwide.

we have about 45 minutes to to in today's trading session. a "state check" on the dow. gaining ground for a second

consecutive day as greece looks on track to complete its bond swap to stave off a default. the dow industrials are higher by almost 100 points. almost a triple-digit gain now. that would be session highs with, as i said, with about 45 minutes to go. the biggest gainers on the dow today, alcoa, caterpillar, dupont, cisco systems and general electric. >> the latest jobs claims data setting the stage for tomorrow's big report on the reporting of the jobs numbers for the last month. what's moving the market here. we've got banks doing well, technology among the winners on my screen. bob pisani on the floor right now. and kelly joins us from our headquarters. bob, is it all about greece, or do you think there's also optimism ahead of these jobs numbers before? >> a little bit of both. put up the s&p 500. have you noticed, we spiked up just prior to 3:00. get a closer shot of this, i

want to show you this. right here is what you want to look at. all of a sudden, boom, you see that? some of that may be the fact we're closing on the psi deal. there have been vague unconfirmed reports of a greek television station saying the participation might be 95%. i find that incredible. i don't know how they're getting to that number. i think that may be a factor as well. everybody's wondering, how do we get anywhere with the stock market right now. remember the key pillars of what's going on, why the stock market have been going up. number one, the stock market and the u.s. and economy here is going to be improving. get a tight shot on this, because everybody's wondering why are we holding up so well. these are the three reasons. number two, europe is in a whild recession. and number three, china 7.5% growth. bottom line is, guys, i think they're going to do a lot better than that. these are the three reasons the market is holding up so well. >> kelly, we get the initial jobless claims today. for the most part pretty

positive. what does that tell us ahead of the big number tomorrow morning? >> it tells us we better not be too far shy of 2900,000 mark, or there will be a big disappointment. we had an uptick this morning, but it's clear the trend is moving in the right direction from other indications. we can show some of those figures. maria, i also want to call attention, this afternoon we got the flow of funds report from the federal reserve. not a big market mover typically. but i want to push back a little bit against what bob is saying about the optimism regardless of what the market's doing. there's a lot of concern we're not doing what we need to see happen in terms of people, households, the u.s. shutting its debt and doing that important part of the recovery that gets us back out of the depths of the recession. put up stats here, just showing increase in household debt, in business debt, public sector debt. total u.s. debt surpassing the '09 high, $52 trillion. it will be harder for the market to perform well when de-leveraging is taking a bit of a pause.

>> on top of that, here we are in the first couple of weeks of the next quarter. >> a lot of people coming out of this past earnings season had been talking that earnings expectations going forward just have to come down, given what's going on in the global economy. although, i'll say, you didn't hear a lot of either negative commentary coming along with the earnings this time. people reducing their expectations. the companies themselves. so, you know, maybe earnings are going to continue to be a little bit better than expected. maybe europe is not going to be in a deep recession. that's going to help. maybe asia's growth isn't going to be as slow as some people it will be. >> there are unknowns there. >> i want to go back to kelly's point. she brought up a great point. kelly, that was quite shocking to me the debt levels of up. people have been saving more and spending less. now we're seeing spending up and now we hear debt levels are up

as well. i can understand your thesis here. it goes against what we've been doing. but is this necessarily bad for the markets? >> it's kind of a short-term, long-term thing, bob. if you have leverage increasing a little bit, that can support stocks doing well, the economy doing a little bit better. longer term, when you talk about the big reports we've seen, we know what happens after financial crises. we have to work through this process. if that process is taking a pause, it's just going to prolong ultimately what we have to go through here. worries that perhaps the pause in the de-leveraging process is coming a little bit early. maybe short-term good news, but i think it's reason we might be stuck in this choppy vulnerable trading period a little longer. >> more austerity talk. >> kelly, bob, thank you. we're in the final stretch of trading for the day. the dow jones industrial average is higher by about 99 points with just about 40 minutes to go before the closing bell sounds. >> hedge fund machiner bill ackman says home prices look very cheap. how can you cash in on housing.

the "talking numbers" trade is next. meanwhile, less than 40 minutes to go in the trading day. coach shares continue to soar, making it one of the biggest performers. best performers in the s&p 500. we'll catch up with chairman and ceo lou frankfurt coming up at 4 clon 10 p.m. eastern. >> here's how each member of the dow is trading right now. you'll see most are in positive territory. only three negative. intel, exxon and mcdonald's the only three in the red.

prices continue to move higher this afternoon on optimism we'll get good news about the greek debt swap deal. we saw a spike in the euro as the deadline was approaching for participants to agree to that deal. and that in part has helped extend some of the gains here this afternoon in the oil and products. nat gas sitting out the party, though. we had another luke-warm inventory number. and for the day, nat gas closing out at a new ten-year closing low. back over to you guys, scott. >> thanks so much. less than an hour to go in

trading. investors are watching housing today, famed investor bill ackman noted this morning that the housing market is set for a recovery. let's take a listen. >> once unemployment stabilizes, which i think we're definitely headed in the right direction, all of a sudden people feel comfortable buying a home. >> so does the housing market look good and what's the best way to play it. let's see what the charts say. let's start talking numbers. robin is president of mesh capital and dan greenhouse is chief global strategist at btig. nice to have you here at the stock exchange, robin. home builders have had a really good run, as you know. >> they really have. let's look at the chart shp. >> let's do it. >> let's do it. >> there it is. >> this is a market to buy. here's the reason why. you have been in a protracted period of consolidation, going back to 2008. what you have now is a breakout

over that congestion band. so where is it going to go. it's going to probably return to the initiation point of the last decline, which was around this 23 area. right around in here. and that's a broader area of consolidation. i think it will chug its way higher. not accelerate in a rally. because you're moving through a lot of heavy usage up here. and a lot of congestion. so buy the pullback as a strategy. >> dan, what's the fundamental view here? there are a lot of people who would say technicals have gotten a bit ahead of themselves in terms of what the home building stocks have done. what do you say? >> clearly the fundamentals have improved both from a top down and bottom up stand point for home builders. the sales data starting to turn sentiment among the home builders, turning that tends to follow new homes sales. from that vantage point, you've seen an increase in the enthusiasm. from the stock specific

standpoint, in some cases margin concerns and other cases liquidity concerns, they've abated as the company's improved. you've seen that in the stocks moving higher. >> robin, what name would look best to you at this point? >> i like home depot. i think it's a stock to own. the reason being, technically speaking, it keeps breaking out of congestion band out of congestion band, and now there's nothing but air until the last initiation point of the decline. i'm looking at a yearly chart here. this is a really solid target at 53. i'd like to buy a pullback around 47.50. >> this is a play, i guess, on the remodeling cycle that people talk about, being in the early innings rather than the latter. >> i think it is. >> you didn't pick a home builder here. do you think some of the home builders themselves have been overextended a bit? >> perhaps, on a shorter term basis, you might go into a long-term consolidation period before you break out again, bring in more players. >> robin, thanks. dan, good to see you, as always. >> we're in the final stretch,

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welcome back. bob pisani down on the floor of the new york stock exchange. 4-1 advancing to the declining stocks as the deadline for the greek participation has now passed, 3:00 eastern time. but line here is, all the risk-on trade is doing well again today. look at that, materials, industrials, technology, and financials. now, today -- tomorrow, excuse me, is the third anniversary of the bottom that we had in the stock market drop. remember that? 676 on march 9th, 2009. what's the sector leader since then?

it's exactly what i just showed you, the same sectors are the sector leaders over three years that are here today. that's the classic risk-on trade. look at the s&p today, almost exactly 100% increase in three years. >> wow. bob, thank you. all eyes are on any more signs of uptick in both oil and gas prices. speaking of which, matt lauer spoke to rex tillerson today about the outlook for prices. let's take a listen. >> the unknown in here is if the market's view of the political risk, if the rhetoric gets more heated, if there's a problem someplace else in the world that flares up, then certainly it could drive these prices up further. but as you look at, again, the supply/demand fundamentals, the markets are supplied today. they're actually pretty well supplied. and as long as that's maintained, then that should serve as a moderating factor on any more risk that's priced into

the future. >> and while he says supply and demand funds moderate risk, it's dangerous for your portfolio to buy cyclicals today. adam, good to have you on the program. >> good to see you. thanks for having me. >> you said cyclicals are dangerous even when the economy has turned. we seem to be seeing better points in terms of employment and cyclical related stocks. but you say don't own them. >> what we're really saying, actually, is you don't want to hold them too long. but the in ub one question we've been getting from investors actually has been, should i buy lagging cyclicals. people ask me which stocks are up less than 20% since the bottom or which have lagged. when you put that screen together, maria, it says, oil services have lagged, or airlines have lagged. so what our work shows is that, you know what, you shouldn't buy lagging cyclicals. that's actually not a good strategy. you're better off riding the

momentum of the ones that have worked short term. because the laggards are down there for a reason. gas is bad. so that story. or brent's high, and it's hurt the airlines, or whatever. you've got to buy cyclicals on a market, i just don't want to buy the laggards schr the s&p target is 1167. i think it's the lowest on the street. you've been blindsided by the move that we've had thus far this year. >> what we try to do is set a year-end target, so at the end of '11, i'm in my office writing a note about what i think the 2013 earnings are going to be. and at the end of '12, how confident i think you're going to feel about the multiple, what you're going to pay. so when i take a look at that, the big concern i have, and we'll see if it plays out, it's still a little early, is the fiscal pop in 2013. i've seen you guys talk about it some on the network. you're going to talk about it more in the next few months,

which is this $500 billion head wind to the u.s. economy. and what policy will do to unwind it. at the same time, the analysts have accelerated earning estimates. so sometime, maybe july, my suspicion is you'll be sharpening your pencil on the 2013 numbers and say, wait a second here, i may not have any economic growth in the u.s. am i really sure -- i still think it's got a few months to pan out. otherwise i'll do is you end up liking stocks at a higher price. >> you do think earnings estimates will come down? >> for sure. they have, maria. >> where are they highest right now in your view? where do you think are the excessive estimates? >> for 2013, it's funny, you show that chart of the winning sector since the trauf three years ago or tomorrow, or whatever. the reason that's true, is those are the hi beta sectors. they should go up by more. quite naturally, those are the cyclical businesses that have the highest estimates. and therefore, the most risk.

i would say it's basically materials, energy, select industrials, financials, have the worst estimates as you head out to 2013. >> what throws off, i guess, your outlook which skews a little more negative. is it that a recession in europe isn't as deep as some people fear, thus corporate earnings aren't compressed as much as people like you think they may be, that asia continues to grow strong enough to carry corporate earnings? >> the two things i'm worried about from my perspective of being cautious, number one is, i'm fighting monetary easing globally everywhere. i'm pretty sure if i sat here 50 years from now, we're talking about qe-100, we would all agree it probably won't work, and i'll fight back. but qe-99, i'll fight that. but i'm not positive on qe-3, and how the market will interpret that. the one thing is the monetary easing. i think bernanke did a good job of getting assets up. and so maybe he doesn't have to do it, right? the second thing i'm worried about is china.

to the extent the metrics people got are kind of lagging, and we do get better numbers in q-2, i think that could create the market going up higher than i think. i'm not as worried about being kind of carried out from europe or u.s. economies being strong. i think that's actually less risky. europe's been kind of in line. it's going to be pretty much -- we have a modest recession, down from the european economy. the u.s. economy is very confusing. pretty good jobs data. but our u.s. q-1 gdp is tracking at 1.0. >> so in this scenario, let's say estimates come down, it's not priced into the market. we do have a sell-off. >> right. >> as you predict. how do you want to be invested then? give me your per -- you know, your asset allocation right now. >> within the u.s. equity markets, a little more micro

assets. it's utilities, health care, the two best performing sectors last year, the two worst performing sectors year-to-date. >> adam, good to have you on the program. >> good to see you guys. >> see you, doc. >> dr. adam parker. straighten up. the guy's a doctor in statistics. how could you come up with a price target of 11.67. everything else is a round number. scott does his work. we'll see you soon. >> thanks, guys. >> 20 minutes or so before we ring the bell. nasdaq is up, as i see, a bit more than 1%. >> pretty good rebound today following the year's biggest sell-off earlier this week. up next, we're going to break down the charts and show you why it could take some time to see some profits come off the table. >> after the bell, we'll check in with the ceo of hyatt hotels. will sky-high gas prices force

consumers to cut back on travel. >> look at the commodities right now and how they're trading. you're watching the "closing bell." but first, before we go to break, the "dividend." which small cap stock is the bigger loser so far this year? build-a-bear workshop, dine eji, or overstom.com? look at all this stuff for coffee. oh there's tons. french presses, espresso tampers, filters. it can get really complicated. not nearly as complicated as shipping it though. i mean shipping is a hassle. not with priority mail flat rate boxes from the postal service. if it fits it ships, anywhere in the country for a low flat rate. that is easy. best news i've heard all day! i'm soooo amped! i mean not amped. excited. well, sort of amped.

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asked, which small cap stock is the bigger loser so far this year? build-a-bear workshop, dynegy, or overstock.com? now, the payoff. dynegy. welcome back to the "closing bell." bullish day, up about 1.2% on the composite. a communication maker better

than expected earnings report that upgrade to buy from hold. moving on to software names, also having a good day down here. one of the nasdaq's best performers. certainer makes health care software. they're trading at all-time highs today. starbucks also trading at all-time highs. green mountain coffee struggling on the announcement that starbucks is working on a single-serving cup initiative. back to you, maria. >> courtney, thank you so much. less than 20 to go in today's trading session. time now for a quick market "state check." nasdaq composite on a second round of gapes as concerns about greece ebb. the nasdaq is higher by 1.25%, a gain of nearly 38 points. it advanced 40 points a little bit earlier. the volatility index down about 6% or so. settled above 20 own three times

over the past month. >> time for us to trade the close. just a few minutes before the closing bell. the s&p 500 jumped 9% in the s&p in january and february. a choppy month of march, though. let's go to the charts. joining us back at headquarters right now, jordan kotick. jordan, you have been bullish on this market this year. you have been rights. but the charts are telling you something different right now. explain. >> we're still bullish on the year. we expect a choppy tone in march and april. the down side, now we're climbing back up. that's exactly what we think the blueprint's going to be for the next couple of weeks, certainly into early april. we start off looking at the small caps. they've led their way to the top side. small caps are warning us, choppy times are ahead. let's look at the russell 2000. everybody with a chart knows there are areas where the market has generally stalled out. however, if you go a little bit deeper and look at the positioning, over the last 52

weeks, is aggressively bullish, to the point where the market has traditionally seen a pullback. even on a relative basis, the small caps have outperformed, but now they're starting to fall. which suggests just like we had about 12 months ago when they stopped their leadership, the market is giving a big sign that it's getting a little bit exhausted. lack of leadership, again, the market just needs to exhale, and what we've seen this week is symptom attic of what we see going forward. >> part of your bullishness stemmed from the european banks. what are the european banking charts telling you? >> european banks are up 40% off their lows. 35% just this year. enormous. housing, like so many sectors, breakouts coming. but we've got to be careful here. these markets, as you can see, the european banking stock up 35%. now testing their 200-day starting to stall out. their outperformance against the european broad market also starting to stall out. it doesn't suggest to us that

we're not going to get these markets to the top side. we're at levels after huge gains, big levels, where everything is starting to get a little bit of money off of the table. regardless of payrolls and announcements out of europe this week, as we get to the month of march, we look for the choppy tone to continue. it will be a buying opportunity but no market can go up in a straight line. we just have to be a little more patient. >> maybe we'll be able to get some of these names with better prices then, is what i think i hear you saying there, jordan. >> it's not only going to correct in price, but in time. just chop sideways for a while. >> always great stuff. thank you so much. jordan kotick, barclays. about 15 minutes before the closing bell rings. nasdaq higher by 1.25%. you know the s&p 500 and nasdaq have erased all of tuesday's losses. that tells you where we've gone over the last couple of days. brian shactman has his eye on some "under the radar" stocks. >> baseball cliches, reportedly

slide 14 of their presentation caused this spike in the stock around 2:00 people eastern time. and several other names when we come right back. better than expected private sector job gains are contributing to the bounceback we're seeing in the market today. >> there is an image of the new ipad, as tim cook unveils some of the details. being able to download movies is a huge, huge game changer. it's going to be wicked fast. suppliers up between 2% and 3%. >> the fed is a piker compared to what the ecb has recently been doing. its balance sheet is positively exploding.

it is an update for the dow, but not shares of mcdonald's. the worst stock in the dow jones industrial average today. mcd sliding in heavy volume

after the world's biggest fast food chain posted disappointing comps in february. lower than the 7.7% growth an lists had been anticipating. frigid temperatures as well as the debt crisis hurt mcdonald's europe numbers. they expect higher food and labor costs in the u.s. to impact first quarter operating income growth. mcdonald's shares and those of yum brands are running about neck-and-neck, both up about 28% over that time. kfc, taco bell and pizza hut. >> thank you. we want to point out that reuters is reporting that the participation in the greek debt deal is 85%. very good participation, according to reuters. we're thought going to know the actual answer in terms of what the participation was until 1:00 a.m. tonight. we won't get that confirmation. in the meantime we've got all sorts of speculation about how the participation went, and so far it looks like that

speculation is quite positive and one of the reasons we've got this strength in the market. there are some names not stealing the headlines, but they are big movers, "under the radar" names. let's get to those movers with brian shactman. >> thank you, maria, very much. i want to look at electronic arts. they're presenting that on slide 14, they gave this nugget. more than 1.7 million active subscribers for the new "star wars" game. that's what some people feel caused the spike midday. now up 4.5%. colgate palmolive, i have not heard a whole lot of talk about their hiking their dividend by 7% to 62 cents. current yield is 2.5%. you have to own it by april 24th. 1% up today. basically flat for the year. a lot of retail talk today, but no mention of zumis. more people are banking on a beat here. up 3.5%. we'll have the numbers for you after the bell.

stamps.com settled with psi system on a lawsuit that dates back to 2006. they can't sue each other, i found this comical, they can't sue each other for another five years. i guess that's considered a good thing. the stock up almost 14%. microvision, my microcap of the day, the electronics company, they do miniature lasers, initiated by merriman capital. $5, now at $2.48. they think this stock can double. >> the lasers. thank you, brian. one stock that has certainly not been under the radar, apple. rich peterson, since the s&p 500 hit the most recent bottom, which of course is in march of '09, market value has risen by $6.5 trillion. appleby far the biggest gainers. apple's market cap was $74 billion, just three years later apple's market cap has skyrocketed by more than $420 billion. one of those fun facts we love

to share with you. up next, the closing countdown, after this short break. stay with us, because after the bell, cashing in on the consumer. shares of both coach and hyatt hotels have been red-hot. will consumers continue to spend amid rising gasoline prices. we'll get the take with the ceo of coach and hyatt hotels. back in a moment on "closing bell."

welcome back to the floor of the new york stock exchange. it's time now for the closing countdown. putting together a pretty good couple of days after that big sell-off we saw on tuesday. i'll take you to the major averages on the wall and you'll see that's represented right here. i'll show you an intraday chart of the s&p 500, you'll get a pretty good look how the markets really added to their gains late in the day, as word of the participation rate climbing, hit the market, seemed to give a little bit of a lift to stocks here. s&p 500 and nasdaq now erasing all of tuesday's declines. that gives you an idea of the kind of move that we've had over the last couple of days. take a look at euro/dollar. something to keep an eye on

given the news coming out of greece, that we'll get over the next 12 hours or so. at the highs of the day as well. a gain of just about 1%. i want to show you mcdonald's as well. big story today. same-store sales missed expectations. weakness in both europe and asia that was weighing on the stock today. you'll certainly see that pullback showing up on the chart, down 3 1/3%. worst traded stock today in the dow jones industrial average. and then let's show you coach. best out of the s&p today. the stock up nearly 5%. lew frankfort will kel his story in the next hour of the closing bell. let's walk over and talk to rebecca patterson, the chief market strategist from jpmorgan asset management. greece seems to be falling in line the way the market hopes it will. >> greece will not be gone as a story. unfortunately, we'll be -- >> or fortunately, we have

something to talk about. at least in the near term from a market perspective. >> the fact that we're getting this participation in the greek debt swap, i think fingers crossed, can take this off the table for a few days. tomorrow we get a decent jobs report out of the u.s., we might see profit taking into the weekend. but i think we're shaping up to have a pretty good week. >> yesterday i heard a lot of conversation that we're seeing a mini correction. everybody was fearful we were going to be pulling back, greater over the next couple of days an in reality we have. pretty good day yesterday and putting together another one today, correction now off the table? do we have it? was it that mild? >> if that's the all the correction we have, we should all be extremely grateful. the fact that stocks have moved up so much since late last year, it's normal to have a pause, even a little bit of a correction. i wouldn't mind to see it actually, because it will give other investors a chance to get in. but the fact that we have the ecb, the bank of england, all these central banks out there so easy, providing a measure of

support which i think prevents the debts from getting out of control, barring some shock like iran. >> the key to what you just said is having a pullback so others can get in. so you would be buying on any dips? >> i would. we're overweight u.s. equities. we like large cap stocks. we like a little more defensively, actively managed high dividend stocks, just because that gives us a yield push, and if things get choppy from here. we like the u.s. we think we'll go higher this year. not in a straight line, though. >> what other areas of the market would you be putting money into? adam parker was defensive today, basically said don't hold on to any cyclical stocks. >> we like emerging markets, high yields. it's getting a little bit rich but we're still happy owning it. and alternatives as well. and i like diversifying away from the dollar. >> i left my guy bob pisani hanging over here. >> the important thing is, it looks like a participation rate is going to be 75%, and maybe