test earlier this week. thank you so much for watching "street signs." "closing bell" is coming up next. see you same time tomorrow. welcome to the "closing bell." i'm michelle caruso-cabrera in for maria bartiromo. >> welcome to the new york stock exchange. our new home here. >> i love it. >> right now, the markets, stocks are up modestly. we want to put things in perspective. the dow on track now for a seven-day win streak. it's the best run for the blue chip average going back to july of 2010. also, the s&p 500 traded above 1,400 for the first time in nearly four years. is this another buy signal for investors at this point or are we going into a new leg in this market. first, a look where we stand at the moment. the dow near the highs of the session right now. after a stutter step opened this morning. now up 39 points at 13,233.

the nasdaq is up 14 points right now, about half a percent. still above 3,000 at 3,055. the s&p now above 1400, a gain of seven points at 1,401. >> as we enter the final stretch, take a look at some of today's big movers. a stock hit a milestone today. apple is now lower, but at the open it hit $600 a share for the first time ever. one day before the release of its highly anticipated ipad tablet. another tech stock under pressure, that's cisco. the company announcing plans to buy nds group in a $5 billion deal. cisco continues to make a strong push into the world of video services. more on today's movers in just a moment. >> meantime, we had conflicting reports out today of a release from the strategic petroleum reserve. that sent oil into a frenzy, especially brent north sea crude. the news suggested attempts are being made right now to put a

lid on the high fuel prices that we've been seeing lately. we'll deal with that in today's "closing bell" exchange and get to the bottom of it and what it means for the stocks and the economy. bob pisani is at the big board, and sharon epperson at the nymex. clear this up, sharon. it seemed to me it was a matter of semantics whether there was an actual agreement or just sort of a wink and a nod about whether or not there would be a coordinated effort to release new oil to the markets. >> all you needed was to hear that there might be a release of emergency oil reserves and more supply of oil on the market to see oil prices tank quickly. we saw about a $2 or $3 move, depending whether you were looking at the wti or brent contract, in a matter of minutes. of course, as we did learn more of the details, or lack of details, the fact that perhaps it was a coordinated effort between the uk and britain, and the white house refuting that, we did see oil prices start to come back. the fact remains that we have an oil embargo going into effect in july. and that will take about 800,000

barrels of iranian crude basically off the market, or at least going off to the west. so there are many that believe sometime between now and july, we will see emergency reserves tapped, whether it's a coordinated effort by the entire international energy agency, a few countries or just the u.s. we need to figure out how to get more supply on the market before the summer driving season begins. >> the interday chart is just amazing. plummets right there. >> shows you how skittish the market is right there. the question is, how high does oil have to go before it starts to hamper growth here in the united states? >> i think they're basically staying at these levels. if you look at this level, it's one where in the past we've seen, for example, small cap cyclicals underperform. which has been a little bit of the case lately. but gold initiating a trade on the russell 2000. in terms of the economic impact,

as oil climbs, it tends to be a drag on gdp. and to get to what sharon was just saying, if oil is rising on stronger global outlook, that's fine. the drag will be offset by stronger growth. but if it's happening because of supply concerns, then you just get the double whammy of the other kind. >> let's talk to you, bob, about the stocks. you saw the interday move in oil. what do you make of it? airlines, for example, moved right along with oil. >> what i make of it is, nothing is safe from government interference in an election year with high gas prices. the short answer to your question, michelle, take a look how we did on transports. immediately the transports, not just the airlines, sort of the logical thing that would move to the upside, but we saw all the moves to the upside, with all the major stocks. take a look at the key point, we've done this before. we released from the petroleum oil reserves a number of times. last year there was an international release around

libya, releases around the hurricanes in 2005. remember president clinton in 1996 and 2000, also did releases in the spr election years, by the way. we had one in kuwait. >> the other thing is -- >> peter pointed out on his blog today, he was pointing to that release of june of '11, that just a week later prices were back where they were when they made the release. >> that's right. >> but then, of course, that was on the announcement, bill, once the deliveries were actually starting, we saw the prices drop further. when the deliveries ended, we saw prices start to come back. of course, we know at the end of the year we ended at $100 a barrel. definitely over time, this is going to be a short-lived price impact, even if we actually see it. >> the impact on stocks has been very limited anytime this has ever happened. it's been widely studied. that i can be sure of. here's the key point about whether this is true or not, we know david cameron, the head of

the uk, the prime minister, met with president obama. you can bet your bottom dollar they discussed the strategic petroleum reserve. whether they agreed to release it now or not, sharon is right, likely something is going to happen. they're trying to do coordinated effort. you can be sure today or tomorrow something will likely happen. >> i don't know if we put this up yet, but we crossed the $4 mark, not just what we're used to seeing it in alaska and california and hawaii, but new york, illinois i believe is another state, a half dozen where the average cost of fuel is in the $3.90. >> do you really believe they would do is just for gas prices? if you do it now for gas prices and we have a real supply disrupti disruption, then what? >> are you serious about that question? >> i'm absolutely serious about that question. >> why else would they do it? >> that's a rational question. but you're dealing with a possible derailment on the economy, on high gas prices.

your question is rational, but seriously. >> it is the bully pulpit of the white house. sharon, why else would he do this at this time? >> he would do this because we have the embargo coming on, where we have the loss of supply. >> we know that's coming. the embargo is so well known about. >> no, of course. >> the sdr is for mrj disruption. >> there have been many that have been anticipating we would see a drop in the spr all year. coming out since early this year this was going to happen because of what we're seeing in iran. then today even further financial sanctions against iran, global banking saying we're not doing any more business with iranian banks. so that is one of the reasons. of course, gas prices is a major factor. but there's also a supply factor that is key. >> put up that spr release. remember, in 1996, president clinton specifically cited reduction in the deficit, to the supply of oil out there for releasing it. then in 2000, they were talking

about low levels. deficit reduction, that doesn't sound like a true emergency. >> that's been a subjective definition, that's for sure. >> thank you, all. see you later. let's check the movers and shakers on wall street so far today. seema mody has the details on that. >> hi there, bill. the milestone of the day, s&p 500 index hitting 1400. that's the first time in four years. further signs that the sufficient economy improving. job claims hitting a four-year low. green across the screen. we have the dow, nasdaq, and s&p, as i mentioned, all in positive territory. let's dig into today's top stories. financials are leading the market higher. banks across the board providing leadership in today's trade. a rebound, if you will, for some of these names. citigroup, up better than 3%. moving on, though, to some other movers, take a look at ross stores, reporting a higher profit for the holiday quarter. as shoppers sought out popular

clothing brands at discount prices. that stock, though, is consolidating over the last 20 minutes. let's go now over to gas, getting hit hard. q-4 earnings disappointing the street. the company pointing to weak results in europe. that stock down better than 10%. switching over to tech, though. cisco putting its cash to use, acquiring nds for $5 billion. in an effort to expand their presence in the emerging markets. that stock down better than 1%. that's a look at some of the movers today. michelle, back to you. >> thank you, seema. the yield on the ten-year treasury still above 2%. and mixed economic data today. cnbc's rick santelli is at the cme in chicago. rickster? >> let's look at some issues that are fascinating. we had a three, ten and 30-year auction monday, tuesday, wednesday, today thursday is settlement day. we have to pay for it. look at the three-day interday chart and realize it's well off the highest yields. here we still sit at 56.

where did it go off at auction? what, 45.6? a little over 45 1/2 basis points, underwater. look at the ten-year, currently at 228. it tested settlement at 227. well off its 235 high yield. that brings you to yesterday's 30-year. after that auction didn't seem like as aggressive as it should, it went off around 338. we see these big sell-offs. a lot of hedging. probably selling in markets to head some of that supply they had to pay for today. maybe that explains the spike highs. today close to 350 and close to 235 on tens. there's another one, back in chicago, today, i asked traders, why the big sell-off? there are two reasons. a lot of guys were long puts, but they got out of that. a lot of speculation with short puts. that makes them long the market. they had to sell futures to neutralize. the number one reason of the day, all these etfs with regard to treasuries, somebody's got to

cover that when everybody's the right way in the market, rates are going up. the selling caused by balancing etfs, also thought to be very large. bill, back to you. >> rick, thanks very much. lately we've been having some very exciting last hours. so we'll see if this happens again. we've got about 50 minutes to go with the dow of holding on to a gain of about 40 points right now. >> the s&p 500 crossed the 1,400 level for the first time in nearly four years. can it hold in the the close. one chief investment officer said this rally still has plenty of room to run. >> apple, have you thaerd? single handed lid helped the nasdaq rally recently. is the stock cheap? ahead of the new ipad release? >> speaking of huge rallies,e bay was downgraded. is it time to get out of ebay? >> as we head to the break here, here's houp the s&p 500 heat map

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45 minutes to go in today's trading session. time for a quick market "state check" on the dow. dow industrials on pace for the first seven-day winning streak since february of last year. jobs and manufacturing helping to drive stocks higher. the dj is higher by more than 37 points, 13,231. here's a check of some of the winners at this hour. bank of america, jpmorgan chase, intel all posting gains. broad based. the financials, still powering higher. >> right now, it's about technology and financials. and of course, tomorrow's the big day, speaking of technology, the new ipad from apple hits stores. it's likely to be the company's next big blockbuster product.

jon fortt is in san francisco with a closer look at the new ipad. >> bill, i've got it right here. i've had it for about a week. the key feature on this is the retina display. the question is whether this is different enough from the previous ipad to continue apple's momentum. just to row cap, last quarter, the holiday quarter, 15.4 million units for $9.2 billion in revenue. 111% growth year over year. more pixels than your hd tv has by quite a bit. this is the clearest screen that you can find on a mobile device anywhere. but the question, again, can apple maintain momentum with this device, bill. >> jon, stay there. let's bring in our next guest to talk about the trade on apple. i mean, this has been an amazing ride for this stock. senior equity research analyst

at mazzou. and i should point out, gentlemen, when apple hit $600 today briefly, deutsche bank removed the company from its high conviction list. i'm not sure if they have a low conviction list, but it came off that list. they were taking profits at that point but still bullish on the company medium to long term. that may have accounted for some of that sell-off once it hit that point. but you have it priced $635. they could do that tomorrow. what happens then? >> you know, clearly there's a strong momentum. and this stock has gotten closer to the price target faster than we thought it would. it merely seems like there is upside from our estimates where things stand today. >> bill, the momentum has been incredible. i mean, how long -- i mean, we've seen this before with other technology companies in the past. how long do you think apple can maintain this kind of innovation

momentum to please the stock? >> well, i think that the apple store had been underappreciated for the better half of the last few years. we're certainly playing a little bit of catch-up here. investors are being rewarded. bill, i think as we move forward there will be three key items i'll be looking at in 2012. that's a successful launch of the iphone 5, continued expansion into markets like china. and a little bit more clarity on capital deployment, most namely the dividend. >> jon, you wonder how much pressure this kind of stock action puts on it. i know the ceo says i don't pay attention to the stock, it takes care of itself. but you have to wonder how much pressure tim cook is under when the stock is doing what it's doing right now. >> yeah, you know, i don't think there's actually that much pressure in this way. we don't understand yet what this new ipad is going to do. a lot of the reviews today are saying that this is an incremental improvement.

i actually think that could not be the case. it could be that this is the most important product launch since the iphone 4, in that when you turn this on, you see it is different from the previous version. you see it's different from every other mobile product out there. whether that translates into sales growth is another question. but they are launching in ten countri countries tomorrow. 25 more a week later. that expansion is quickly unpress department. >> is this a situation where you're only as good as your last product or is apple's move here more a vote of confidence that there will be more innovation down the road? >> you know, we should see a lot more innovation from apple. i think innovation comes from two sides, device and ecosystem. a few things that jon just mentioned, a lot of things that you play with the new ipad, you really see a big difference in terms of usability, in terms of the display and the connectivity. the second level of innovation

that apple continues to do is the ecosystem development. it's got the biggest application ecosystem out there. you can dictate into the new ipad. there are going to be a lot more invo va invo -- innovations they can do on that front. >> when we look at the company over the next three to five years, they're really well positioned to benefit from the mobility wave. not only is this ipad just a data point that things are continuing to go that way, but we think that this is a three to five-year play. >> amazing run there. gentlemen, thank you all. jon, we'll see you later. thanks for joining us. 40 minutes before the closing bell. the dow jones industrial average is higher by 35 points. the s&p 500 holding at 1401. and the nasdaq is higher by 13 points. >> that's the number we're watching right now, the 1400 on the s&p. to release or not release. that is the number surrounding the strategic petroleum reserve.

up next "talking numbers," we'll break down the charts to show you why oil may be heading lower, regardless of whether the spr is tapped. >> and then later, yields on the ten-year are up 11% since monday. has the bond bubble burst? answers coming up. >> he just went to residuals. as we head to the break, this is how each member of the dow has been trading today. more green than red. back after this. [ male announcer ] to the 5:00 a.m. scholar.

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welcome back. i'm sharon epperson at the nymex. upside momentum in the metals market in this session. gold prices approaching that 1660 level. we've got a little bit of pop there in gold after that huge sell-off that we've seen over the last couple of days. in fact, since last friday, gold still down more than 50, almost 60 bucks or so. the biggest weekly decline we've seen probably in the last three months. but the fact remains with gold prices sliding, we're seeing more physical demand coming from places like india. and we're also seeing long-term investors holding on tight. the gld, other gold etfs, seeing their holdings at the highest levels on record. back to you guys at nyse. >> thank you, sharon. less than an hour to go in trading. did you see the interday oil

chart today? incredible volatility on earlier reports there would be release from the petroleum reserves. events denied by the white house. what do the charts tell us? let's talk to mark with gray wolf execution. give us a technical explanation of what's going on with oil. >> it's starting to see increasing sides of brent crude peaking out. brent, increasing moves to new highs that failed with regards to momentum. now we're breaking down to new five-day lows. now we're starting to break that. >> bad sign, right? >> a bad sign after having rallied up as much as we have. now breaking down to new lows. short term we could probably pull back to 118, potentially 115. >> this is talking about brent. this orange line just popped up. >> this is a longer term trend line, looking at the lows connecting october to the most recent lows here. this is a longer term trend line for brent. brent versus wti i think will contract over the next few

weeks. brent will probably pull back a little bit more and converge. seasonally we're still in a good spot. if you loof at kaf at, we've been in a downtrend since november of last year. and recently we broke in trend lines up from the december lows. this is also a concern of near term. it looks like we're seeing a steady pattern of lower highs, and now a break to new lows. in the near term we could see a little bit of weakness. it's good to avoid buying too soon here. >> thank you for being with us on "talking numbers." >> my pleasure. >> the dow on pace to end higher for a seventh straight session. one of our next guests says the stronger dollar could become a serious threat to that rally. how to avoid the potential risk, straight ahead. here's how the major currencies have been trading so far this thursday. back with more on this ides of march.

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welcome back. bob pisani town on the floor of the new york stock exchange. well, we just creeping up here. new highs on the major indexes, including the s&p 500. but that's not where the real action is. the rumored release denied in revving up the transports. we saw some of the shipping companies, some of the railroad companies, all move up rather notab notably. historically this does not last in the stock market when you get a release from the spr. but it is lasting today. the industrials, transports doing twice as good as the industrials here. bank stocks strong, right at the get-go. we also saw nice moves up in home builders again today. a number of the big home builders at new highs. there's the dollar index which hit -- actually reversed here. now to the down side on the day. reversing several days of upside move. that's helped the materials stocks. finally the ten-year yield that

everyone was so worried about in the last two days, fairly quiet today. i think that's one reason that the stock market is just holding here fairly steady. guys, back to you. >> bob, thank you very much. so the s&p 500 is around 1400 right now. first time that's happened in nearly four years. is this a buy signal for equity investors? a stronger dollar could be the biggest richk for stocks down the road. we'll talk about that in a moment. >> she's with us right here on the set. along with pben pace. ben, this week feels different. big rise in interest rates. >> uh-oh. >> the banks took off in a way. there's just a move that we haven't seen in a long time. do we believe this? >> there should be decoupling between the interest rates and stock market. >> people are selling bonds because they're going -- >> we're using cash originally.

now they're selling bonds. we're always concerned about bonds spiking up a little bit from here. that's happening now. the concerns that we had last summer are pretty much all gone now. no u.s. recession, no eurozone induced credit crisis. the emerging markets are just that, slowdowns. we're basically just getting back to where we were before this started. >> maybe the stronger dollar hurting the economy? >> a little bit. i think one of the things that a lot of investors don't seem to be paying a lot of attention to, explicitly, is the fact that about a year ago, the fed was really at the easing game all by themselves. now they have company around the world. so you have the bank of japan, you have the uk, the ecb, all engaging in quantitative easing. rates are coming down quite significantly around the world. so the u.s. has a little bit more competition in terms of

being the cheapest currency out there. >> that's why you think, i guess, the dollar could go higher, even though our fed wants to keep rates low for the foreseeable future here? >> that's absolutely right. >> why is that bad for stocks necessarily? >> it is not necessarily bad for stocks. but we've seen really a huge correlation between a weak dollar and strong profitability. it's been a huge boon to u.s. manufacturing. and to exporters. and we could see a turn-around in that. especially as you've seen the dollar move versus the yen, first time in a couple years. >> are you telling clients to get out of those then? >> not at all. we're just saying, it's an emerging risk. >> right now, technology and financials seem to be the driving engines here for this market. do you like those? do you go with the momentum players? or do you -- >> scoop up some of the value plays with a little more technology. i think it's more of a stock

selection issue. but technology, we still think materials. you're more cyclicly sensitive industries. >> would you buy apple here? that's technology. >> that's technology. that's part of the technology portfolio. so there will be a little apple bought in this portfolio. >> what's the best way to buy technology right now? simply go by the index? >> no, i think you would be selective here, too. what you're seeing is you see somewhat laggards like semiconductors and semiconductor equipment companies being a little cheaper now. not buying the overall index, just pick your spots on some of the more cheap technology companies. >> you're just buying the big cap industrial kind of companies, right? >> absolutely. we think that this rally is going to narrow as we get into summer. we absolutely do. we've seen this amazing move in small caps. and we're not exactly sure that it's really supported by the fundamentals.

bottoms-up analysts are looking for small cap companies to grow earnings by more than 20%. in an environment where u.s. gdp is only growing at about 2, you're counting on an awful lot for margins here to help you out. so we're skeptical about small caps. we actually would be taking profits in small caps right here. >> what names do you like when you talk about the industrials then? are there any specifics that -- >> industrials, we continue to like all the capital goods manufacturers. so the caterpillars, deeres, eatons, those continue to be companies that we think have very strong global franchises, and can hold their own. >> good to see you both. we're going to bring you both back in various capacities as "closing bell" continues. one of the biggest stories on wall street yesterday was how much fallout is goldman sachs feeling after it was blasted by a former executive. mary thompson is still working that story for us.

the question i would have, as he was saying, greg smith, the former executive, writing in "the new york times" yesterday, that goldman executives referred to their clients as muppets. have we heard from the clients? what are they saying about this, mary? >> you know, bill, it appears goldman has a reputation among its clients. here's an example of two we spoke with. mark lazaree, smith doesn't change the way we view the firm. we've found them to be ethical and proper. we spoke with one firm who was an advisory client. they said in all cases, they said they felt like they were treated in a very good way. basically they couldn't see any evidence that their concerns were not put forth first by goldman. >> i want to hear from the muppets. how do they feel about this. what about the s.e.c., mary? would they possibly look into this? >> we spoke with harvey pitt, who is the former commissioner

of the s.e.c., he told us as a practical matter, the s.e.c. basically will not ignore this information. however, he says given that the allegations are fairly generic, and remember smith said he saw no sign of illegal activity, he said the s.e.c. will only pursue things if it finds concrete evidence that the law has been violated. but in the wake of madoff and the financial crisis, the s.e.c. is certainly going to -- it's certainly going to grab people's attention at the s.e.c. >> goldman right away refuted all of it publicly. are you hearing, is their board looking into this? >> i asked goldman, i haven't heard back from them. i spoke to a number of crisis management experts, and they say, at this point right now, the board really has to take some action. they have to look into this further and make sure that the changes goldman promised when it published its new business standards are actually taking hold. if they aren't, the board has to make an effort that they are going to take hold in the future. >> how about blankfein's

reputation? >> let's take a look at the charts. of course, this is what the ceo stakes their reputation on mostly. goldman shares down about 18% since blankfein was named ceo back in june of 2006. but, you know, there is some thought they may want to split. he's also the chairman as well, and maybe to ease investors' concerns, some people say you might want to pull in a chairman that has a more outgoing and better reputation to the public. blankfein might be better for shareholders, but from a public relationship standpoint they would want to put a different chairman in there, with a better, i guess you would say, manner with the public. >> i'm sure they will get all kinds of advice on how to run their company in the future here. >> we've got about 20 minutes before the closing bell. dow jones industrial average in positive territory by about 42 points. the s&p 500 still holding at that 1401 level. so still above 1400. >> they're teasing us. they're teasing us, i tell you.

get ready to trade the close. gordon breaks down the charts to explain why investors need to take a close eye on the yen right now. >> and the name of the cash cow with almost no debt on its balance sheet. and as we head to break, here are some of the standout performers in the s&p 500. railroads at the top. equity residential is down by more than 1%. but first, before we go to break, the "dividend." which commodity is underperforming the others this year? coffee, milk or sugar? the "dividend" pays off after the break. [ horn honks ]

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and the community amazing things happen. to me, that's the membership effect. without the stuff that we make here, you wouldn't be able to walk in your house and flip on your lights. [ brad ] at ge we build turbines that power the world. they go into power plants which take some form of energy, harness it, and turn it into more efficient electricity. [ ron ] when i was a kid i wanted to work with my hands, that was my thing. i really enjoy building turbines. it's nice to know that what you're building is gonna do something for the world. when people think of ge, they typically don't think about beer. a lot of people may not realize that the power needed to keep their budweiser cold and even to make their beer comes from turbines made right here. wait, so you guys make the beer? no, we make the power that makes the beer. so without you there'd be no bud? that's right. well, we like you. [ laughter ] ♪

just before the break as part of the "dividend," we asked, which commodity is underperforming the others this year? coffee, milk, or sugar? now, the payoff. coffee. the nasdaq on track to close

at a new high today, without the help of apple. apple trading a penny above $600 a share at the open this morning. you see a big dip interday, about 2:00. that's when deutsche bank removed it from its conviction buy. taking a little cash off the table they say. cisco, also down today. as it acquires its biggest acquisition in years. a video conferencing company, or video software company for tv. that was set to go public. we did have the stock going public today, mt com. they are a chip maker. the stock up more than 10%. not a bad debut on a day when apple's actually down. back to you guys over at the nyse spl bertha, thank you very much. with 17 minutes left in the trading session, check on the nasdaq composite, hitting its best level since november of 2000. on the back of the evidence that the u.s. economy is strengthening. up to 3,056. was up 19 at the day's high.

the fear index, the volatility index essentially flat on this day. down 1.25% right now. still hovering in the 15 range. it hasn't settled above 20 since back on march the 6th here. >> the huge move in bonds earlier this week startled a lot of folks. big rise in interest rates. is it going to keep going. some big firms are throwing caution to the bears on u.s. treasuries. key support levels are approaching. our next guest says we need to keep a close eye on this action, because of the yen. why the yen? jordan kotick at barclays capital and cnbc contributor. explain this connection to me, jordan. >> oh, yeah, absolutely. look, before you talk about the bond market, you've got to under the fx market. there's been much too much ink spilt about what the euro is doing. the correlation between yen and interest rates is extremely close. so what i have behind me, the 26-week rolling correlation,

because of the carry trade between yen and treasury yields. on average, 75% of the time it's a very strong correlation between yen and yields because of the carry trade. what we see now, when the market goes in periods when it wasn't correlated, it starts to enter areas we're seeing this year where the correlation starts to tighten. which is to say, if you want to have a view on rates, you need to have a view on yen. and if you want a view on yen, you need to have a view on rates. >> what's happening with interest rates? >> you have to watch. you've seen the 12% move higher in the dollar yen. and in the treasury bond market, there are big levels coming that are going to help us determine whether there's further upside here. what you want to watch for in dollar/yen is a big value area. similarly there's been no chart damage in ten-year yields to the top side. however, you start to get dollar/yen above $1.85, you'll

turn this from a bounce to a trend and trigger a lot more selling in yen and a lot more selling in yields. that's what you watch. >> 85 and 250, thank you so much, jordan. >> thank you. >> bill? >> michelle, 15 minutes left to the closing bell. dow right now is holding on to a gain of about 40 points at the moment. when we come back, miami's real estate rebound. >> i'm diana olick in miami, florida. where there are more than 5,200 new condo units scheduled to be built just this year. but there are already 4,000 unsold units left over from the condo crash. how is that math working out? we'll tell you coming up on the "closing bell." >> the former goldman exec blasting them. >> the quiet doesn't come first. >> a few weeks ago i did a piece here on felix. >> i am under the impression that something is imminent. the s.e.c. announced charges. it charged felix investments. they engaged in an improper

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i'm back on the floor of the new york stock exchange here in front of the post where they trade shares of winnebago. look at the big logo up there. you have no idea what it took to get that thing up there. rebounding sharply from an early morning decline by a surprised second-quarter loss. they a tribute that to aggressive discounting. we know winnebago is the largest motor home manufacturer. so obviously mission accomplished now. revenue beat street estimates as motor home shipments jumped 10% from a year ago. even with the high gasoline prices. it's cautiously optimistic about economic growth in light of improving consumer confidence and employment and housing starts. so they seem to be outweighing the higher cost of fuel. winnebago shares and rival navastar are running

neck-and-neck in negative territory over the last 52-week period. both companies down 30% in the past year. >> we've been talking nonstop about apple, apple coming in $600 a share early this morning. a lot of "under the radar" stocks are making big moves as well. seema? >> a couple of the movers besides apple, scholastic corporations. loss narrowed, help the children book publisher sales and improved margins. the company raised full year earnings jumping on the news, up 13.8%. switch over to another company, video conferencing provider radio vision. agreed to be acquired by avia inc. in a $230 million deal. avia is holding corp is offering $11.85 a share in the deal. 5.8% premium to the company's

closing price yesterday. vera bradley, jumping 41% on surging sales from the company-owned stores and offerings. the company still projected a cautious third-quarter profit. down 9.6% on vera bradley. coming up next, we'll come right back with the closing countdown. after the bell, social media red hot. we'll ask four square if he's concerned about a bubble forming. as we go to break, major averages to the end of the close. right on the cusp there, you've got to tune in and find out. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy.

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they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. inside the five-minute mark as we head to the close. the squeaker we're watching right now is the s&p. it crossed the 1400 mark for the first time since june of '08. we're sitting right on that number. the dow looks like we're going to have seven straight up days now, first time we've seen that since july of '10. here we sit, the stock in the spotlight once again, apple. but have we hit a peak of sorts.

this morning we got to $600 on the open this morning. deutsche came out and took it off the high conviction list and it started moving south. now we're sitting at $585. have we hit a peak? at least short term we'll find out later on apple. the dow holding steady here seven days in a row. not setting the world on fire the way apple was, but seven straight days, at the end, or at least this portion after we come off the lows back in october, still pretty impressive for the dow industrials to do that. it was sort of a comeback day for a lot of investment. the ten-year note, we saw yields come back a little bit here from those peaks that we hit yesterday, as everybody was trying to get out of the treasuries and go into the stock market. 2.25, 2.27 on the ten-year note. gold, a huge decline yesterday, and back up $15 plus. a 1% gain there. this market is looking for support levels somewhere of some

significance. the one market we watch carefully is the brent market. brent north sea crude. this was just on talk that maybe we're going to see a coordinated release, as the strategic petroleum reserve among major countries around the world, just on talk. you saw that decline there. when you had the denials of any deals in place, the market came back a little bit. you know how skittish the oil market is right now at these levels. here's something i'm watching very carefully right now. the dow transportation average, very strong in the last few days, and especially today. in fact, with a 3% gain today, it's having its best day of 2012. this would be very bullish for the market overall. there's the oldest technical indicator out there. the dow theory, which couples the industrial average with the transportation average, and if they can move in tandem to new highs, that would be very bullish for the market. you see the transports have been sort of underperforming relative to the industrial average. now it's starting to play

catch-up at this point. to the sectors, what was strong today, the financials, surprise, surprise. industrials, materials, telecom, health care. where is technology? it didn't make the top five today, maybe because apple did see that pullback. technology is down here. the utilities are still lagging this market here. let's go over to lisa. we've been following the vix very carefully. new lows that we haven't seen since last july. you feel the market's getting a little complacent here? >> absolutely. it's been extraordinarily rapid. while we agree a lot of the big factors driving fear are certainly off the table, we don't think it's time to signal the all-clear here. one of the things that we're watching is, as good as the employment numbers seem to be, you know, the flip side of that is what happens to the labor productivity and to profit margins. >> but it could be argued, couldn't it, that we're just

seeing the typical wall of worry. there's still all kinds of problems we could point to, even as this market goes higher. >> absolutely. i mean, our view is that we are going to grind higher, but the markets are probably going to narrow. and you're going to want to really understand what the drivers of profitability are. >> you mentioned high -- a big cap industrials. any other sectors you like right now? sl we do like the technology sector, we do like industrials. we like health care a lot. you know, one of the things that we're very focused on is folks can grow their dividend. with yields where they are, we think folks are looking for a place to get paid. and those companies that can generate growth in that dividend are going to be attractive. >> lisa, thanks for joining us today. >> thank you. >> bob pisani, what do you think? >> 1402. looks like we have a milestone for the s&p 500. the thing about today, the ten-year yield did not keep going up. two days we've seen it moving up. a little bit of concerns about inflation. tomo w