the national cuisine of australia. >> and i'm going to be invited to that one. thank you very much. >> yes, you will. >> mandy, i'll see you tomorrow. the "closing bell" is next. take care. >> hi, everybody. we're into the final stretch. i'm maria bartiromo. >> and i'm bill griffeth. >> you had the slow down and inventory data which showed inventory of oil very much higher than expected in this country. oil's going lower and taking the sfok stock market with it right now. >> and that's all going to have implications around the world. a market off of the lows of the afternoon but nonetheless, stocks down by 90 points. disappointing durable goods report setting the tone and energy stocks are leading the

selloff. after the larger than expected increase in weekly inventories. take a look at the final stretch on wall street. two-thirds of 1% and 13,111 and nasdaq weaker bouncing off the lows at 31.01. again, still negative. >> plenty of story stocks to get to national gas prices have plunged, another ten-year low. sending stocks lower. we'll breakdown the stocks to show why the nat gas may be accelerating. as the supreme court wraps up arguments over whether the health care reform law is constitutional. we'll have the latest details

coming up. in the meantime, a big pickup in volatility after declining for the past few weeks. the vix, the fear indicator, is hovering above 17, or it was today. highest level we've seen since march the 9th. this week, the vix is up more than 15% alone. this is a line chart. it compares the dow. the vix bottomed on march the 16th. guess which day the dow peaked this month? >> i'm going to guess march the 16th. >> very good. you've been doing this for a while, haven't you? >> once or twice. >> we're going to look at this pickup in volatility. bob is with us. sharon is over at the nymex tracking this record low. it's been an on day, though. we've had this lower -- >> people are trying to figure that out. where it got the global slow down story that is affecting things right now, if you look at

the aussie stock, it's weak. you look the at russian stock market, chinese stock market, all are weak. there's your weakness in the sectors. materials, energy, industrials. there you go. when you look at annie's, pricing at 19th, opening at 31 and holding up $34? this was not on anybody's radar screen last week. i can assure you. they increased the price range and the thing went through the roof. >> this is organic foods? >> yes, one of the largest organic food makers in the united states. but the point is, nobody thought the stock was going to open anywhere in the 20s, let alone in the 30s. i think there's a surprise there. vocera priced at 16 and opened

at 24. they are increasing their revenues and in some cases making profits at the same time. >> what a move, bob. you almost wish that you didn't have a 90% move. it makes you wonder if it's justified. >> i think on a valuation basis it's certainly not. none of the underwriters are arguing, this stock is really $30. >> right. >> i think not. >> i think they caught a wave. there is interest in these companies right now and i think there's some indication that the ipo market may be heating up as evidence that we got going today. >> sharon epperson, another day that i wish my car ran on natural gas. >> another day that i wish my house was heated with natural gas. >> yes. >> we are looking at prices at a fresh decade low for the closing price of the intraday low in the april contract. when you wake up tomorrow you see the may contract.

it's about 10 cents higher. you think there's been a surge in natural gas prices. no, we're just in a contract month. what traders are saying that they are trying to do, where things get lower and lower, is to buy the summer months, anticipating that we see a pickup in demand in the summer and maybe we'll see a bottoming in this early injection period. we normally don't see an injection into natural gas storage levels until april. we've already started. we've had it for the last few weeks. it's a really big numbers. traders say maybe that will flush out those still long in this market and we'll see a washout closer to $2. below $2, do you really want to get short in this market? some are saying we've got to see a bottom. they are being looking at a number similar to december 2001. that's what they are seeing as the low or the bottom as far as natural gas prices can go. keep in mind, if we continue to

see the big injections into storage, we may even be on track to have more in storage than really there is capacity for and that would create more production shut ins and create the spark. >> so demand is down, investors are up. prices are going down. why isn't this happening in gasoline or oil? it's the same story there, right the did i manned continues to go lower as prices continue to go higher. >> we're talking about a domestic commodity. natural gas very much u.s. centric. really it's all driven by brent. we keep telling you that. it's driven by geopolitics and yes oil is down $2 today but it did not break below the level,

$104.50. there's still a lot of risk premium. there's concern about what is going to happen and what we know will happen in july. keep your eye on the middle of april. april 13th and 14th when we have the tops starting again about iran's nuclear program. >> oh, boy. >> whatever comes out of there that can be natural gas in iran. >> thank you, bob. let's take a look at moves and shakers. stock skyrocket, and brian shactman at the cnbc real-time exchange. >> first, i want to look at the s&p 500. we're at 1402. at one point we were below 1400. it's bounced off the lows.

the bio max index is up 48, 49%. there was a report that the company rejected an offer from bristol-myers. the assumption could be a higher bid coming. a trade worth investment, lower oil and getting a boost from optimism that the euro zone and carbon max, southwest 1.5 and jetblue despite the disaster with the melt down. weakness in the natural gas and coal, chesapeake, southwestern on the flat gas side and peabody on the coal side.

quickly, an update on two stories we've been following all day. looks like the scripps deal will go through. tyco is up 5.5%. it's merging its control business with pent air. brian, back to >> brian, thank you very much. a lack luster five-year auction put a damper on the market. rick santelli has that. rick? >> it was interesting, bill. yesterday's note auction was fairly aggressive and durable goods was a bit unimpressive when we were looking for a 3% handle. all of that contributed to rally interrupted. you can clearly see the high yields of the day made right before the 8:30 release of february durable goods. you can see that after the auction at 1:00 eastern, yields bumped up a bit. granted, we're at 102. we settled at 101 yesterday. maybe a bigger story is looking at a chart starting on the 13th,

the fed meeting, we've had a 20-basis point rally. yields up in the five-year. so the real issue is trying to separate whether it's weak data or issues outside of that, like we just had a lot of selling pressure built up that exploded when the statement on the 13th didn't have any new information regarding issues like the twist. but no matter what the reason is, as we come close to the end of the week, it's going to be very significant to see if the yield close will remain under what is perceived to be 2.25 pivot. bill, back to you. >> we're in the final stretches before the "closing bell" sounds for the day. the market is under pressure from the get-go. plus, we're at natural gas prices continue to plummet, hitting the decade low for a second straight day. how you cash in on the natural gas bust. we're going to look at the charts and what they are telling us in talking numbers. >> bill, how about a bust going

in natural gas to a boom happening in banking. my next guest says u.s. investors are better off looking north of the border when it comes to the red hot banking industry. >> and is td bank on the verge of stepping up the u.s. expansion plans? ceo ed clark joins us for an exclusive interview. you're watching "closing bell." we are first in business worldwide.

♪ when your chain of supply goes from here to shanghai, that's logistics. ♪ ♪ chips from here, boards from there track it all through the air, that's logistics. ♪ ♪ clearing customs like that hurry up no time flat that's logistics. ♪ ♪ all new technology ups brings to me, that's logistics. ♪

welcome back. we have about 45 minutes to go. we're going to do a quick market stat check. all of the major averages that hit the skids today after the durable goods report and a decline in energy prices right now the dow is off session lows. we were down about 115. actually, 128 at one time. but now down 95 at 13,102. materials have been the hardest-hit sector today.

we have freeport-mcmoran, louisiana pacific, allegheny tech, u.s. steel, and international paper all reporting losses today. looking back at the performance of the u.s. banks from september 2007 to august '09, companies were hit hard. 38.8% of the market value. but let's take a look at the counterparts to the north. losing an average of 16.6%, where's the best play right now in financials? the u.s. or canada north of the border and toronto. we have david baskin and south of the border in rochester, new york, president and chief investment officer at menden capital advisers.

thank you for spending the time today. >> my pleasure. >> so let's zero in on what went so well in canada. what makes investing in canadian banks a better bet for u.s. investors than buying u.s. bank stocks? >> we're well-regulated, low competition, and high return. dumpb f duri during the crisis, banks fell sharply but then came right back. because in the end, no canadian bank had a losing quarter, cut its dividend and each of them, in fact, now has a higher dividend than before the financial crisis. >> so you think it was because of the fact that the regular la environment was stronger? i'm still trying to figure out why it was that the canadian banking sector held up so much stronger than u.s. >> a lot of it has to do with the nature of the mortgage business in canada. we never got involved with subprime mortgages here. right now in canada, one half of

one percent all mortgages are in default so the banks won't take any loss on those. we never got involved in the mo mortgage-backed securities and they service those mortgages. >> okay. that's a very good point. is there an argument to be made that the canadian banks are to be made for an investment play? first of all, what you had going on was very different. canada's economy is driven by commodities and commodities have boomed with all of the easy money over the globe. canada's boomed. we've got tremendous building going on all over the country. condos getting built at record paces. that does sound familiar because it looks a little like the u.s. four or five years ago before the crisis.

condos getting built, particularly toronto where you are, building going on and cranes up as well. there's a boom in canada. obviously there's a risk always when you have a boom. where is the top of the market. but certainly regulation and competition are important and certainly the commodity boom has been important. the way i've tended to look, maria, i want to own the targets. who are they going to buy in the u.s.? >> that's a good place. so you're look at these cash-rich banks in canada and trying to figure out what their maneuverings may be in terms of acquisitions in the u.s.? >> exactly. >> david, what about the currency risks? when buying canadian banks, is that a sdmern. >> you know, we do have a big commodity exposure here. the banks are very diversified in terms of that risk. they not only have regular commercial and business lending, they have wealth management.

they control most of the big mutual funds and there is exposure with a number of the banks. bank the montreal has a big footprint with an acquisition in wisconsin and bank of nova scotia gets one-third of its revenue from outside of canada. so i think it's important to look at each one separately. each has its own virtues. >> i see. so tell me in terms of canadian banks and an investment play, would you consider that for your portfolio or looking at what you may acquire? >> i'm looking at what they may acquire. the larger comps are book value. and you're being looking at multiples less than that as well. i'm looking at the targets and i

recommend a basket of states like florida where he's been saying that he wants to expand. >> in terms of the u.s. banking system, real quick, do you think we're out of the woods at this point, antwan? >> i think we're out of the woods in a lot of ways. banks are very well capitalized, most are raising dividends and buying back stock. the banks have really rallied since then. but even those that didn't pass the test will get a chance to resubmit. so i think there's a lot of confidence in the space and they are pretty cheap. >> gentlemen, thank you very much. good conversation. we appreciate your time tonight. we'll go inside the largest second canadian bank coming up. i'll be joined by ceo and president ed clark. >> all right. heading towards the close here, about 40 minutes left.

>> what a quarter it has been. when you think about the quarter in terms of the averages, you know, the best in so long -- >> multidecade highs. >> it really is extraordinary. even though we're looking at volume so low, this market has been hot. stocks getting hit by the plunge in natural gas prices. we're talking numbers on whether this is a good time to buy devon. >> yes, the stock may surprise you. plus, what is allegan doing? the chairman and ceo join us us in a few minutes. ♪ i can do anything today ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today

♪ i can go anywhere ♪ i can go anywhere today ♪ i can be anyone ♪ i can be anyone today ♪ i can be anyone ♪ i can be anyone today [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. and that makes this bread the first bread we can all enjoy. together, the elements of science and the human element can solve anything. solutionism. the new optimism. [ todd ] hello? hello todd. just calling to let you know

i'm giving you the silent treatment. so you're calling to tell me you're giving me the silent treatment? ummm, yeah. jen, this is like the eighth time you've called... no, it's fine, my family has free unlimited mobile-to-any-mobile minutes -- i can call all i want. i don't think you understand how the silent treatment works. hello? [ male announcer ] buy unlimited messaging and get free unlimited calling to any mobile phone on any network. at&t.

welcome back. i'm sharon epperson. brent and wti and will make a coordinated effort and the fact that that was a discussion and in storage levels and that was another factor to keep in mind, the premium remains in this marketplace and we're waiting to see nuclear talks and brent crude up 16%. wti up 6%. prices still very high even though the saudi oil minister is trying to talk them down.

back to you. >> they don't have to tap spr. they just have to threaten and then the price goes down. then there's natural gas a ten-year low all questions to be asked in talking numbers and contributor, what a breath taking decline to be seen for natural gas. >> even though natural gas is going to continue to fall -- >> currently? >> natural gas is filling a symmetrical triangle. talking numbers, $1.36 to $1.68. so a big drop. unless they can move above the average, it looks as though natural gas will go below for a significant decline. >> so what are you going to wait for to start buying this?

>> it's the 50-day moving average. currently it's around 360. there's no pattern to bring it up. you'll have a secret rescuing pattern in there. if that happens, above 360 it should turn wildly bullish. natural gas remains very bearish. >> we've highlighted the toll that this has taken on natural gas companies. what about devon. and then the neckline right here at $70. talking numbers, a target of $64. it's sort of a mangled pattern. we really want to wait for it to confirm below 70 and then we really look for strength going below the $50 moving average. >> so no sign yet?

>> no sign yet. >> by the way, enbridge ceo talking about how flat gas is affecting their company's bottom line. >> we are looking at a market that is accelerating on the downside. down almost 100 points. dow jones industrial average. despite the selloff, we're still on pace for the best quarter since 1998. let me say that again. the best quarter since 1998. why the pulls may take a breather in the second quarter and get you all fired up for the second quarter and look ahead. then, later, find out what a tebow mania can spark nfl apparel sales. back on the "closing bell" in a second. tdd# 1-800-345-2550 the 5-day moving average just crossed above the 20. tdd# 1-800-345-2550 we're hitting new highs. tdd# 1-800-345-2550 the spx is on my radar.

tdd# 1-800-345-2550 and i'm on top of it all with charles schwab. tdd# 1-800-345-2550 tdd# 1-800-345-2550 i use streetsmart edge and its tools like... tdd# 1-800-345-2550 screener plus. tdd# 1-800-345-2550 i can custom build my own screens tdd# 1-800-345-2550 or use predefined ones to help me find tdd# 1-800-345-2550 possible trading opportunities quickly. tdd# 1-800-345-2550 i can also bounce my ideas off their trading specialists - tdd# 1-800-345-2550 on the phone or face-to-face. tdd# 1-800-345-2550 and i can trade wherever i want, whenever i want. tdd# 1-800-345-2550 tdd# 1-800-345-2550 the kicker? tdd# 1-800-345-2550 i pay $8.95 a trade. tdd# 1-800-345-2550 that's a deal in any language. tdd# 1-800-345-2550 hey... a breakout on a head and shoulders bottom! tdd# 1-800-345-2550 that's what i'm talking about. tdd# 1-800-345-2550 open an account and trade up tdd# 1-800-345-2550 to 6 months commission-free. tdd# 1-800-345-2550 call 1-800-540-9872 tdd# 1-800-345-2550 and start trading today. is moving backward. [ engine turns over, tires squeal ] introducing the lexus enform app suite -- available now on the all-new 2013 lexus gs.

there's no going back. see your lexus dealer. are connecting here. linkedin connects with the big board.

bob pisani on the floor of the new york stock exchange off

the lows for the day. volume on the light side after we had annie's foods and vocera holding up above their price. turning to millen yeah media. they device all of the ads for your apps as long as what is going on the hot ipo, we'll see if they can price above that 13 price range. >> as we head towards the end of the quarter, let's do a quick stat check and how they perform in the first quarters with only two days left. the dow is up 7% in that period. it's the laggard. 19% gain for the nasdaq and 11 # 1% gain for the s&p. they have been led largely by technology, financials, and

consumer discretionary. as we look at the next quarter, one of our next guests says the odds are not in the bulls favor. joe qinlan sees more volatility ahead here. >> in the past 60 years there have only been six instances where the s&p posted back to back double digit quarterly gains. >> and he's going to mention all six of them. >> welcome to the program. thanks so much for joining us. this is pretty extraordinary. the best first quarter since 1998. talk to us about how we got here. in january we were talking about how horrible things were. >> well, i think part of the problem for bernanke making the fed so accessible, growing year over year, and the fact that you look at year over year, up 7% this time a year ago. you have to look at the vix is at a five-year low and s&p is at a three-year high.

where else are you going to go with negative real returns on the fixed income returns and equities? >> i'm going to guess you are disagreeing with him. >> the second quarter will never beat the first quarter p performance. the problems in europes are still unresolved. and in china, it -- >> how do you think earnings will come out? >> single digit year over year. not too -- not good but not too bad either. >> well, what about that slow down in china? that seems to be worrying investors and the one thing that keeps coming back to have implications for the averages, how big of a deal is this for the year?

is this a hesitate the first quarter? >> maria, we are adjusting the 8% growth which is still pretty good out of a $5 trillion economy. that's good for the long term but the near term, the commodity produces under pressure as well that feed into the industrial base. to me, china's story remains under attack. >> you're always looking at the pros and the attacks. >> well, looking at the consumer, still weighed down by enormous debt, the new york fed put out loans, many that are in arears. that's a negative. the other negative, obviously, look at transaction activity.

it's a high correlation between m and a and sgchgdp. so it's really dried up. >> the holdings are heading steady. >> are the estimates too high? >> we'll get a clearer visibility. next month you have the jobs numbers coming out on friday. however, because of the good friday holiday, the markets will not be able to react to it until the following monday. >> thank you, gentlemen. >> good to see you. heading towards the close, we have the dour continues to slowly come off the lows. apparently botox isn't just for wrinkles anymore. >> really? i didn't know that. >> the ceo of allergan talks to

us about treating bladder problems. >> cashing in on commercial real estates. how he is staying ahead of the broader market by betting on commercial real estate. stay tuned. ♪ [ boy ] looks like our work is done here. i'm heading home. vaaa vrooom! need some help, ma'am? grrrrrrr! [ in high voice ] oh thank you. these things are heavy. zzzzzzzz! [ male announcer ] built for work. and everything you work for. hey, honey. i'm glad you're home. [ male announcer ] the chevy silverado. our most powerful hd yet. from fathers to sons, [ boy ] dad! [ male announcer ] chevy runs deep.

as the years go by, some questions loom large.

are you prepared for your retirement years - 25 or more of them? do you have a financial plan for you family that works, in good times and in bad times? having the right perspective can help you answer the big questions. for more than 140 years, pacific life has helped find answers for those navigating the path to financial security. ask a financial professional about pacific life - the power to help you succeed.

welcome back to the "closing bell." i'm seema mody. the company forecasting the 2012 revenue and guidance below expectations citing weakness. this comes after reporting a 77% drop in first-quarter profit on weaker sales and acquisition costs. applied materials in its core division. while the stock is down today, it's still up 15% year to date. maria? >> seema. thank you. allegan may have found another

use for its best-selling botox. now the company is looking to expand the medical use of the product. allergan has requested european approval and fda approval way ahead of schedule. now we will speak to david, who is joining us from the equitable building. sir, good to have you on the program. thanks for joining us. >> nice to be with you again. >> first, let's talk about the r and d day today. what's your main message? >> well, very exciting. we unveiled new programs today which probably in their accumulation incremental 6 to $800 million in peak product sales for those products or indications. >> you filed applications with the european and regulators to sell botox for a treatment for overactive bladder. tell me about that.

how does your goal of becoming a $1 billion franchise, is this going to be in addition to revenue if you were to get that approval? >> yes. this is the second neurological condition for which we're applying. you may recollect that we already got approval the back hand of last year in the u.s. and many european countries for so-called neurogenic -- >> sir, hold on one moment, please. we want to show our viewers this hearing right now because it is going on live. this is the oversight and hearing to convene regarding the collapse of mf global. i'll bring the latest when we have it. focusing on the firm's last week of operation before it filed for bankruptcy, bill. >> ceo jon corzine.

>> edith knew about the transactions before the company went bankrupt and that's why perhaps she's expected to plead the fifth. >> cornize did transfer that. we'll hear about the collapse in that final weak of the existence. we will bring you details as they become available. i'm sorry about that interruption. you were telling us about the expansion and how significant the revenue increase would be if in fact you saw the increase of these drugs. >> yes. let's go back to overactive

bladder. fda, european, and other authorities approve of this indication. it's a big problem. it is in this patient study group, patients that had up to 5 incontinent episodes per day and we're able to reduce it three times per day which is really significant. the drug lasts for about nine months, probably, and it's an injection through the urethra and then you have to have the ur roll gist making about 20 to 30 little pin prick injections. so very exciting. he also referred to other botox injections. we unveiled that today here at the equitable center at new yooyork city. we talked about botox for osteoarthritis and botox for

benign hyperplasia. >> sir, i recognize this has been a wonder drug for some people and that botox has been incredibly popular. but, i mean, you're talking about botulism. this is a poison that you're shooting into your face? >> well, it's very microamounts. we only needed .7 grams of this material to supply the world and to square off the viewers, and with all these things we've been talking about the therapeutic side, it's going to and last year it grew 12% worldwide. >> what about in the next five years? what are you doing in terms of offsetting new genetics and what do you have in the pipeline to

offset some of that. >> botox will not come out for at least a decade, it's a large product and we have patents that expire way out into the 2020 time zone. and then maybe going broader in answering your question, as a corporation we have very few significant patent expirees coming up. i should never count my chickens completely but pretty much we're in good shape until 2020 something with most of our patents. >> it's a great story and, of course, investors have been rewarded. thank you for your time tonight. >> thank you. >> we'll see you soon. chairman and ceo. we have a new development at that house hearing, the oversight investigation. the committee -- the assistant treasury you just cited has said that she will decline to answer lawmaker's questions.

so they have now dismissed her from the hearing no knowing that she will not be answering questions. you still have the general council, you have the chief financial officer of the global holding as well as the north american chief financial officer to answer questions about the final week and life of mf global. so edith o'brien as expected pleaded the fifth. >> we were expecting her to plead the fifth but to dismiss her, how are we going to get the answers in terms of who knew what? >> we'll find out if the cfos and general counsel know. >> we'll keep watching that. >> all right. heading towards the close, we come back as the dow is down 77 points, down 128 a moment ago. >> brian shactman has been

tossing and turning all night in anticipation of seeking out today's under the radar stocks. what do you have for us. >> he have a small cap company and it's down big time. we will find out who it is. we'll be right back. i'm freaking out man. why? i thought jill was your soul mate. no, no it's her dad. the general's your soul mate? dude what? no, no, no. he's, he's on my back about providing for his little girl. hey don't worry. e-trade's got a totally new investing dashboard. everything is on one page, your investments, quotes, research... it's like the buffet last night. whatever helps you understand man. i'm watching you. oh yeah? well i'm watching you, watching him. [ male announcer ] try the new 360 investing dashboard at e-trade. ♪ when your chain of supplyou, goes from here to shanghai, that's logistics. ♪ ♪ chips from here, boards from there

track it all through the air, that's logistics. ♪ ♪ clearing customs like that hurry up no time flat that's logistics. ♪ ♪ all new technology ups brings to me, that's logistics. ♪ monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro.

all right. i'm back on the floor of the new york stock exchange. stocks hitting a fresh one-year high after they announced plans to merge its flow-control business in an all stock deal worth $4.5 billion. two of the biggest players in water and fluid product systems. under this deal, tyco will control more than 52% of the combined company. move part of the previously announced plan to break itself up into three distinct entities. earlier on "squawk on the street," the ceo explained why he thinks this is a perfect fit. >> it's an incredibly complementary combination of their strength and flow control together with ours in water and

fluid processing together with our technical products business. we're creating a new leader in this space. one that is profit tablg aable creates more opportunity to create value in the near term beyond that. >> well, tyco has been creating value and they are on a roll. this company that he built years ago has rallied about 30%. maria? >> bill, they may not be stealing the headlines. there are movers bucking today's selloff. let's go to brian shactman. over to you, brian. >> well-known names. directv up after an upgrade to buy. the target is now 59. it's at 58. you see a lot of upside there. oil and nat gas are all weaker

but two of them are taking an extra leg down. oxford resources went from outperform to under perform. that's good for 7.5% to the downside. analysts picking up bright co. the software company highest price target and the last three quarters and unreliable, high-tech sanitation company with a man by the name of wayne hyzinga. maria, back to you. >> usually we get indications before the close. we got a buy imbalance. things will close on the better

side of the cycle here. the financials seeing buying as we approach the close. perhaps we'll see a better market than we expected. closing countdown right after this short break. after the bell, two apparel giants squaring off over tebow mania. we will get back to darren rovell month tearily. 84 points down on the dow industrials. we're back in one minute. it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers. this is your moment. let nothing stand in your way. devry university, proud to support the education

of our u.s. olympic team. i bathed it in miracles. director: [ sighs ] cut! sorry to interrupt. when's the show? well, if we don't find an audience, all we'll ever do is rehearse. maybe you should try every door direct mail. just select the zip codes where you want your message to be seen, print it yourself, or we'll help you find a local partner and you find the customers that matter most. brilliant. clifton, show us overjoyed. no, too much. jennessa. ah! a round of applause. [ applause ] [ male announcer ] go online to reach every home, every address, every time with every door direct mail. introducing gold choice. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz.

cannot be contained. [ clang ] the all-new 2013 lexus gs. there's no going back. see your lexus dealer. like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. 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 four-minute mark before the close, time for the countdown and vix. all of these markets are changing right now as we speak. the vix hit a high in the session. but we come off pretty appreciably. now it's at the 15 level. s&p on pace for the best first-quarter performance going back to 1998. not bad.

all of the major averages better. at the low we were down 128 points a couple hours ago and now we're going off the lows of the day off 80 points. the trenching mark, it's affected by a movement by the fed this morning. feds came in and bought $4.8 billion of longer dated maturities. the idea was to bring the yield lower and it did for a while but we're now back to 2.2% yield on that ten-year note. the markets have seen a comeback in the yields there. we didn't have a good five-year auction today as well. gold was lower today and seems to have peaked again. this time it failed to get above $1700 an ounce. we're off the lows at 1661. this is very interesting. the energy markets. watch this. this is crude oil today. more talk about the government coming in with more spr, strategic petroleum oil. inventory is rising.

that pushed crude oil down $1.80 at 1552. some of the european companies and watch, this the performance this year so far for brent and for new york crude, crude is up 16, 17%. r crude is up 7%. what is gasoline going to do? somewhere in the middle? wrong. watch this. gasoline futures are up 28% so far this year. adding more oil to the market apparently is not going to help. the refining capacity is the problem if the government wanted to help they would have to buy up refiners and run them full board and try to bring the price of gasoline down. our sectors today, as we look at the sectors, the financials, a long gainer here.

let me get over to joe quinn lan here. your favorite investment right now is water? >> that's right. >> why? >> the world's most precious commodity is water. the national intelligence agency talked about the water shortage, risk of war, and a lot of things related to that. industrials look good here, treating it, storing it, waste water management and so forth. >> how do you play it? who do you buy? >> a basket of companies that deal with waste water treatment real estate it's a hard and pure play. that's the best way to look at it. >> thank you. thank you for joining us today. what an interesting day this has been for the markets as we feel. government intervention, lower than expected economic data all pushing equity prices lower. that's the first hour of the "closing bell." thank you for joining us. i'll see you