most popular subject in america. not food. subject in america. >> this is true. drip a little bacon grease in your coffee, i'm not kidding. >> burger king is testing a bacon sunday. >> thank you very much. thanks for watching "street signs," everybody. >> "closing bell" is coming up next. hi, everybody. good afternoon. welcome to the "closing bell." we've got a big rally under way on wall street. sharp gains today. i'm maria bartiromo coming live to you from new york city. we are breaking down this big rally as we approach this final stretch with the top market watchers here. we have a triple digit move ahead of financials tomorrow and important gdp data out of china. let's see where we stand. dow up 170 points. inching towards 13,000, with an hour to go in trading. nasdaq at the highs of the day

of 40 points. 1 1/3 points. s&p looking at the best day since march 13th with a gain on the session at 1386. right to bill griffeth we go at the new york stock exchange. bill? >> what was all of the hammering about? what's fueling this bull run today? that's what everybody wants to know about. a lot of things, among others, the china effect. despite the weak report on initial jobless claims and a batch of disappointing ipos, we are seeing stocks rally on speculation that china will be able to avoid a hard landing ahead of its are release of the first quarter gdp data. that comes in overnight tonight. another thing investors are watching closely, today after the bell, we will get earnings from google. the question is, will the tech giant surprise to the upside after missing estimates in the last quarter? we'll have full team coverage on

google in the next couple of hours here on the "closing bell." maria? >> that's where money has been moving into technology. we're coming to you from the floor of new york city. trading more volume than any other bank. the company captured nearly 12% of the s&p 500 volume in 2011 alone. outside of trading, credit suisse has run the largest deal in each major region, including aigs follow on -- huge follow on deal in the americas. as well, $8.5 billion rights offering in europe. we'll talk with the names that you should know here, including an interview with the chief strategist barbara reinhart coming up. today's action being underpinned by a number of factors. i've been speaking to traders this afternoon. and what is likely going to drive the action tomorrow? we go back to the new york stock

exchange. we have the closing countdown with gordon charlop. jeff is with me, from the nymex. and live from the cme group, scott, derivative manager with i cap usa. gordon, let's talk about the trader talk today. rumors of warren buffett buying the treasuries aig. tell us what you're hearing. >> well, those are the major things we're hearing. it has to do with what warren buffett is saying and some of the comments coming from vice chairman yellin. we're still focusing on the macro and we are getting away from things like earnings but yet this is what has been driving this market over the last quarter to quarter, year to year. so we are at an inflection point right here. we're going to see what happens in the last hour of trading. depending on what focus is, we should carry through tomorrow. if google's earnings numbers, they are going to be impacted by

higher gas prices. it may not have an effect on google but some of the other stocks. >> gord gone, lgordon, let me gt your take on wells, lots of focus on, that and we all want to hear what the firms have are to say about the mortgage markets and capital markets. >> it seems right now that investors are getting in behind this market, that we are anticipating a correction and that they are not going to wait too long to get back in. look, we all know what happened last year. the market got sloppy, nose-dived, and never really retracted it there. this year, investors don't want to get caught. they are getting in behind it. we are starting to see that in financials and in the technology sector and today we're seeing it across all sectors. >> let me ask you about oil, jeff. you point to gas versus oil. what's the trade right now? what is leading the way? >> the gasoline has been the leader on the upside before. it took us down this market before and today was a very good

performance. the crack value of gas versus crude oil went out $2. granted we're coming off a $5 dip but the market has retraitsed very strongly and the gas right now at this time of year leads the market. there's no question about that. >> scott, what's the word on the economy today? it looks like the auction in spain and italy worked out positively for the u.s. market, setting a positive tone here. of course, we're not out of the woods yet. what's the risk of a double dip? >> i think we've got a big risk of a double dip. technology has made us a nation of no memory. and that's the fact that the -- the simple fact is this. the unprecedented central bank policy to reinflate, to get us out of these problems, i challenge anybody to tell me what true value is. we just don't know. you're going to continue to see these low volume high-swing days because we have done everything that we can, $4 trillion

deficits, hundreds of billions thrown at the economy. the specter of qe 3, guess what, that's not good enough. if you told me those three or four inputs before, i'd be telling you that we were growing at 6 to 8%. if there's a hiccup in europe, watch out. >> bill, over to you. >> bob pisani and i have been texting the wardrobe department. we want scott's outfit there. google will be squarely in focus right at the close of trading. we'll have the numbers for you as soon as they are released. e. per share estimated to be $9.65. revenue $8.15 billion. analysts, though, of course will be paying close attention to the costs per click which sharply declined in the fourth quarter. here's what google shares have been doing ahead of this and

just in the last few minutes, bob pisani, a move higher for the shares of google. now a gain of almost 2%. this is one of those days where it's hard to tell whether our markets are trading on our fundamentals or something else. as i mentioned, china, words out of europe today, all kinds of things going on. >> remember, it's not global gdp growth. trade deficit here in the united states narrowing a little bit. that's important. china's numbers were out, that is excellent. 14-month highs in bank lending. they are trying to trim interest rates and try to make more money available. it appears to be working. china is up. what side of global growth are you on? the numbers are looking better today. >> just as the ecb, an official reminder to everybody that they were still available to buy up distressed debt in europe. >> that's right. >> one of our federal reserve bank presidents was saying today that they are still available to

make more monetary policy available. >> and miss yellin and also were out there with comments as well. liquidity is going to be abundant for a while. china 8%, either side of that it's going to be out tonight. it looks like 8.3 and some are arguing it should be better. u.s. gdp, they just raised it. jpmorgan at 2 to 2 1/2. that's important. that's a big move up. >> and you and i were just watching the big bank stocks all sitting on their highs, or they were a moment ago. they report tomorrow that will be a big benchmark. >> jpmorgan trading revenues will be up strongly. the one i'm watching, the one i'm most interested in watching is wells fargo. this is a mortgage proxy. a huge company and we'll see how the loan growth is doing and a lot of people are going to be using that as the primary indicator. >> thank you, sir.

we'll be checking back with you over the next couple of hours. dow sitting on the highs, maria, refusing to give it up. >> meanwhile, we had money coming out of treasuries. after the government final debt sale of the week, let's go to rick santelli. >> well, indeed. we had $66 billion in tuesday, wednesday, and thursday. it isn't so -- it's pretty normal that after the supply you get a bit of a rally and that is true. look at intraday chart of 30-year. after the number where jobless claims popped up, rates moved towards the low end of the range which was 317 for the third year and then the top of the range to 323. they settled yesterday at 320. we're one basis point higher on the day. much of that volatility see a one-month chart to put it in perspective since the last fed meeting was about what bob referred to and all of the rumors about china's data, putting the risk trade back on. i never believed data rumors but

there may be some type of easing. we heard the easing and quantatative easing. risk trade is equities with back to back gains really taking it on the chin today. bill, back to you. >> rick, thank you very. . we are heading towards the close. this will be a very interesting close. hope you can stick around for the next couple of hours. a lot to get to here. the dow up 171 points, maria. >> we're looking at biotech coming up. joining me in an exclusive interview, he's going to tell me about his company's next move. >> jpmorgan chase helping to lead the market higher. is this a stock you should earn ahead of the earnings coming out tomorrow? the talking numbers trade is coming up in a moment. at the top of the hour, 4:00 p.m., credit suisse weighs in on

google. >> are you gaga for google or do you think apple is the more valuable tech brand? tweet us @cnbcclosingbell. back in a moment on "closing bell." [ barking ] appears buster's been busy. yeah, scott. i was just about to use... that's a bunch of ground-up paper, lad! scotts ez seed absorbs and holds water better. it's guaranteed to grow grass anywhere, even if you miss a day of watering. [ scott ] seed your lawn. seed it! energy in america.ou miss a day of watering. we've got to protect the environment. the economists make some good points. we need safer energy. [announcer:] who's right? they all are. visit powerincooperation.com.

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okay. as we head towards the close, we have 45 minutes left on the closing day. let's do a quick market stat check. stocks with the broadest rally of the year today lead by materials, industrials, and energy. the s&p 500 materials index has jumped nearly 3% so far today. let's zoom in on the materials themselves. the stocks are notching the biggest gains.

freeport-mcmoran. the industrial average has been making its way down to the 13,000 level where it ended the week last thursday. the dow is up 166, 167 points to 972 for the biggest gain in a month. after we had the worst day of the year. >> s&p biotech index up 110%. one of the biggest contributors is ceggene. the pipeline and acquisition of therapeutics, it's become the hub of the business with some 85,000 employeed. that's where we're joined by robert hugan in a cnbc

exclusive. welcome back to the program. >> great to be here, especially from boston. >> absolutely. tell me a little bit about what is behind this vibrancy in biotech. if you had to name one or two things exciting going on in your industry, what is it? >> i think people are really beginning to capitalize on the revolution in molecular biology. it's a fundamental technology that is coming to the forefront of these companies. >> you really are seeing biotech advance and enable so much. you get the majority of your revenue from the blood cancer drugs, balamid, lamid, some $6 billion. is that your big bet or are you looking to diversify and sort of equalize revenue from elsewhere? how are you going to offset that or are you not planning on it? >> well, we're excited about

revlamid. we have regulatory applications in europe to expand this year and we've got important clinical data coming out over the next 12 years that gives it great growth prospects. we've got 25 phase three studies that are going to read out data in the next 12 to 18 months. mel no melanoma, and the cross-cancers, certainly we'll stay close and focus on where we have the advantage of revlimid and optimize its potential. >> where are you in the fight against cancer? i had the ceo of the cancer center on recently and he was so

excited in terms of where we are, in terms of looking at cancer at some point, some day a chronic disease that you could manage as opposed to a killer. what would be be your take on that? >> we're making progress. it's a step by step. our disease why myeloma which was a short-lived death sentence today in some subsets, living for ten plus years and it's becoming a chronic disease. we're making good progress. i think the revolution, on the scientific side, in translation nal medicine, really identify the advances that we're making so we can bring the targeted therapies. we're making significant advances. it's important that we have the environment conducive to the innovation to bring these promises to reality. >> i'm glad you mentioned investment. you've been one of the biggest

spenders from the acquisition to the series of small deals that you have done, how important was the acquisition to celgene's bottom line? does the growth come from deals or is it organic? >> i think we have the great promise of our own pipeline where we are really focused. we've got great opportunity on our own pipeline and that's where we're primarily focused. where we see opportunity to leverage that, we are going to do it, to broaden our focus in solid tumors. so we've got the great promise and we're going to execute on it and if other good opportunities come across, we have the financial ability. >> but is biotech funding dropping? only $4 billion invested in all stages of biotech by venture

capital compared to 6 billion in '07. >> there's no doubt there's been a consequence in the earlier stage companies, some of the pressures from venture capital drying up, et cetera. >> right. >> certainly companies like celgene are trying to fill that void. so i think you have to see innovation in the whole structuring of deals and how to fund early stage companies. that's happening. and i think if we can get our policy issues taken care of and have more certainty as to what health care reform is going to be like and those changes or certainly, you'll see investment come back to those early stage companies. >> and that's certainly the words from across business, not just biotech but business today needs some certainty in terms of the cost of health care, no doubt about it. good to have you on the program, thank you very much. >> thank you, maria. >> more insight into the drug industry when i speak to the ceo

of sanofi. join me for that. bill? >> 40 minutes left. the dow just off the highs of a gain of 169 points right now. >> and two of the biggest names in banking set to report earnings tomorrow. that's one of the anticipation of this market. which is a better buy? wells fargo or jpmorgan? we're going to breakdown the charts in talking numbers coming up. plus, the chief strategist of credit soous talkses about why you should go away this year. >> and as we look at the markets of the high as we approach the final stretch. back in a moment [ male announcer ] citi turns 200 this year.

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welcome back to the "closing bell." i'm seema mody. taking a look at the heavyweights trading in positive territory, pc sales grew in the first quarter of the year. straight analysts pleased with that data. also in focus can, some of india's adrs. the company has recently been under investigation for visa fraud. that's why that stock is down. bill, back to you. >> seema, thanks a lot. earnings are on people's minds. google reports after the close tonight and tomorrow morning you will hear from the likes of

jpmorgan chase and wells fargo, meaning this is right now the last time you'll be able to trade those bank stocks before they report earnings. you buy them, sell them, what should you do right now? starting to talk numbers, joining us is mark newton, chief technical analyst at gray wolf execution partners. welcome back. >> thank you, bill. >> they have been very strong recently. jpmorgan chase, do you like them at these numbers? >> we're starting to see increased consolidation which also coincide with the market in general. the number is positive and on a weekly basis. if you see this as a rally, it's been an increasing sign of higher highs and higher lows. you can see a few more signs if you look back going back since 2007. this is a longer term chart at jpmorgan since 2007. we have a longer term chart. similar number of highs yet the

lows have occurred at increasing pace. these banks have set up with bullish longer term which move to the upside. >> would you buy jpmorgan at these levels? >> i would. it pays to be long and buy dips. >> what about wells fargo? what do you think of this one here? >> it's similar to what this is happening with jpmorgan. the bottom line is, this also peaked near former highs in 2010 and 2011. the chart pattern is similar on a daily basis and weekly. it's difficult to distinguish between jpmorgan and the charts look similar on both. >> i will say, at least in the short term, that's the incline that you cannot maintain forever. it's not parabolic yet but it's very close. >> that's true. financials were one of the worst sectors and this year they have been the best. these stocks have gotten overbought.

until they give you sufficient reasons not to own them, you want to be bullish and buy dips on a lot of these. >> mark newton, thank you. >> that's a look at the technical stocks. tomorrow, we'll breakdown the wells fargo numbers with the cfo, tim shown wiloan will be j us at 3:15 on "closing bell." will google's earnings help the sector head higher? which company is more valuable tech brand? is it apple or is it google? tweet us your response @cnbcclosingbell. as we take a break, take a look at every member of the dow industrials. virtually every one in the green today with the exception of coca-cola, merck, procter & gamble. the consumers and the drugs. back in a moment. tdd# 1-800-345-2550 i'm constantly working my screens.

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welcome back. bob pisani on the floor of the new york stock exchange. stronger prospects for growth and gdp in. united states as well as china. that's what is moving the stock market. imagine if europe got better. we are seeing a weak dollar. all of the metals and commodities, base metals, zinc, aluminum, copper. this is the london exchange. all up rather nicely. the materials also up for the week. look at this. alcoa is up 5%. some of the big names overseas like bhp bulliton. maria, back to you. >> bob, we are off of the best levels of the afternoon with a gain of 165 points. what am i hearing today in terms

of this market? a lot of people talking about the china numbers that we'll get at the end of the day today. gdp as well as industrial production coming out of china and there are expectations that we will see gdp growth in china of 8%. that will certainly be one of the catalysts for tomorrow's trading session. we're watching the banks. the banks doing well today. a lot of focus on what we will hear out of the conference calls from jamie dimon, jpmorgan. we're seeing a bid in the banks. people are expecting that now that we've passed the fed stress test and certainly the capital issues, we're not seeing that kind of pressure on the banks right now. we will see. we have a pretty good bid in the banks as well as the economically sensitive names. that's really the drivers and where we're seeing money move into this mrk kearket. check out the economically

sensitive names. we are seeing the drug stocks today seeing a bit of a downdraft. bill? >> maria, and then there's technology. we want to focus on that for a moment. we've seen strength in that sector with a host of others as the thursday rallies into the home stretch. past four quarters with the s&p technology index was positive during various earnings. the s&p 500 bass seeing gains. meanwhile, when tech was negative, the sachlt s&p was negative as well during that negative season. will tech carry the bulls this time around in joining us with his thoughts on that, ed at quantitative management associates. we've jokingly called technology the sectors for all seasons. i mean, it seems to go up no matter what is going on economically right now. your expectations for earnings and specifically on technology this time around since we're focusing on google tonight? >> google is going to be

relatively weak. the consensus is around 3%. overall the s&p earnings will grow 5 or 6%. >> so why are we rallying tonight? we're heading into this earning season where a lot of people have said expectations have been too high. a lot of companies won't meet those expectations. the numbers have been coming down quite sharply but now they've quickkicked up a little. so i think basically what's happened in the market so far this year is we're getting paid for the earnings growth we saw last year. and if you look year over year, the s&p 500 is up as of this morning at 5 something percent. so we think about the huge rally but the rally that happened from october happened after all of the fear that built up in the market about europe, china, and so sometimes that fear has receded and you're seeing the

fundamentals or earnings are coming back into play. >> you're overweighting equities, still are, sectors. what do you like the most here? >> if you like the overall market, you tend to like the higher beta or things that tend to do well when the market does well. technology is number one. so if the broad market continues to do well, if earnings continue to do well, as if i think they will, there's a pretty good chance that stocks and industrials and other things tied to global growth will do well in that environment. >> tomorrow we get the banks, banks are the financials this year. they weren't last year or the year before that. but this quarter and so far this quarter it's been a big leader. do you like the financials? >> we don't bid on sectors in that degree of precision. but i think financials have become a high beta sector. so i this if i'm right that the market does well, i would expect financials to join technology among the sectors that do better

than most. >> there are still plenty of people looking for income and they are certainly not getting it from the bond market. they look to equities for income. do you look for income be? is that a strategy you look at as well? >> well, income-producing stocks are better in nature. clients looking for a way of being exposed to the growth thaw get for stocks but at the same time getting income and getting a little bit less volatility compared to other areas, income is an important thing and also in my own personal portfolio, i shifted my assets into income producing stock funds so that you can get some income as well as ex pros sur and long-term growth. >> volatility. >> diversification is always a great idea. >> what a concept. good to see you. >> thank you. we're heading towards the close. we have 24 minutes left. let me turn around and see what the market looks like. up 128 points. holding on to these gains at

this hour. >> google set to report earnings at the top of the hour. we're going to have the details for you on the report. our next analyst says the stock is cheap on a price to earnings basis. the bullish call coming up next. and then we look at sanofi. that ceo, chris viehbacher, he has exclusive answers coming up at 4:30 p.m. >> one weak spot in this market, back in a moment. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz.

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the high stocks are continuing to fly to the tech winners. seagate and nasdaq on track for the best gain in nearly three weeks with a gain of 1 and a third percent. and we're focusing on one of the big gorillas there, google's earnings will be out at the top of the hour. jon fortf joins us with a

preview. jon? >> they are looking at revenue at 8.1, this is the first quarter. it's going to be a lot slower than the holiday quarter which topped $10 billion. one of the things that people are going to pay close attention to, those numbers were down last quarter. a lot of attention will be paid to that. in the long term, it's the motorola mobility action that is going to matter. any color around that will also get a lot of attention. bill? >> jon, thank you very much. >> maria? >> i'm coming to you today live from the credit suisse trading floor. i'm joined right now by one analyst who says, based on price to earnings ratio, google's stock is still cheap. let's talk about that bullish call with spencer wang. spencer, good to have you on the program.

>> thank you for having me. >> we're seeing google report earnings after the bell. the company has seen real action in the options today. what are you expecting from the numbers? >> i'm expecting a pretty good quarter. it's hard to know how the stock will react but we're expecting solid results with 24% revenue growth, 14% operating growth and eps at 9.5% share. >> the stocks in the past succession, below the 15-day moving average but broke back above that. the utility options topping 122 into eps. does that matter to you? does that tell you anything about the anticipation out there? >> i think it's really hard to discern too much other than it's going to be volatile when they print the number. >> let me ask you about the bullish call. >> right. a couple of reasons. first, we think the court desktop search business could sustain top line growth. google is one of the biggest beneficiaries for mobile

internet growth. they built a great platform with android. it's a pretty remarkable number. and they are taking a lot of share in the display advertising market. >> and, of course, that sort of is underlined by the transition by motorola mobile. >> that's right. >> how important is that deal and are you expecting a lot of commentary out of management tonight? >> i think it's premature for too many comments. they haven't closed the deal so they are awaiting regulatory approval. we like the transaction. really for us it strengthens the intellectual property position and significantly decreases the patent risk for androids. we think it's a good strategic move for them. >> at the end of the day, this company is all about advertising. what do you expect out of ads? >> for advertising growth, we're expecting 20% plus growth, 24% year over year net worth growth

specifically. >> bottom line, would you commit new capital to google at these levels? >> yes. >> what's your target? >> $700. >> all right. we'll be watching the numbers. of course, the expectations call for the company reporting right at about 4:00. we'll get those numbers as soon as the company reports. good to have you on the program z great. thank you, maria. >> bill, over to you. >> heading to the close and the rally. strengthening just a little bit here. back to the highs of the session. dow up 174 points right now. >> and we've got much more ahead on google. up next, we'll show you what the company is doing to ensure that you'll never get lost again both in and outdoors. >> plus, we want you to be part of the conversation. what do you think? is google the most valuable name in tech or is it apple? send us your comments to @cnbcclosingbell. send us a tweet on that and we'll show your responses later

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google is just moments away from their latest earnings. >> buckle this. >> will the internet giants fuel another tech rally? >> go! >> announcer: and is a dividend in the cards? full team coverage continues now on the "closing bell." >> and that report will be out in about 15 minutes, a little less than that. how would you like to be larry page and company with all of this pressure to deliver here? here's a quick recap on what analysts are expecting. $9.65, revenue of $8.15 billion. margins being expected to hold steady, around 33%. but analysts will be paying very close attention to a key metric, costs per click. which sharply decline in the fourth quarter. something to watch for there, maria. >> google, in the meantime,

teaming up with major retailers to ensure that shoppers never get lost again. cnbc contributor, natalie, joins us on that. natalie? >> google has discovered unchartered territory and it isn't where you might think. the search giant is working to create maps of indoor locations like malls or airports for mobile customers to use in addition, of course, to their already popular outdoor maps. the next time you're lost in an airport searching for a restroom or an escalator, you could map your way with your mobile phone, the same way you do when you are lost on the road. google is working with macy's, home depot, and even mall of mark for google maps on android maps. >> as you're moving, you can see if you're going in the right direction or wrong direction and find if the bathrooms are

clothes by or behind you or in front of you instead of wandering around. >> reporter: shoppers are used to looking for signs to see where they are. but not anymore. if indoor map makers have their way, they will be able to pinpoint your location within five to ten meters. search store layouts, escalate tors, and bathrooms on on a google map. some companies, such as point inside, can even direct you to specific i'lls within stores to find items such as peanut butter or toilet paper. >> as maps get better and better, this will be part of the every day experience. >> reporter: while google's indoor maps do not point to dealers and discounts, they see the application providing much more in the future. imagine searching for mack crohn knee while in the supermarket and being able to find not only the aisle but also a coupon. >> people have discovered naturally by using the application a seamless experience. when they find it, it's part of their normal every day use of the map. >> google does have web programs

that you can use to upload maps for store layouts. competitors include point inside as well as a silicon company named machello. so this makes it a race to chart not only the great outdoors but the great indoors. >> natalie, thank you so much. up next, a quick break and then the closing countdown right after this break, bill? >> imbalance is slight to the high side. dow is up 180 points. we'll watch that as we head towards the close. full team coverage and investor reaction, just moments away from now. maria? >> keep it here. a triple digit rally. you're watching the "closing bell" on cnbc, first in business worldwide. that's a bunch of ground-up paper, lad! scotts ez seed absorbs and holds water better. it's guaranteed to grow grass anywhere, even if you miss a day of watering.

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intel. i want to talk about hewlett-packard for the biggest percentage gain since march of '09. both of those companies having been significant today. >> thank you. we have five minutes left before the "closing bell" rings. the s&p seeing the best two-day gain since november 20th and 21st. volatility has come back. we had the worst day of the year on tuesday and best two-day gain on wednesday and thursday since late december. the s&p and nasdaq on pace for the biggest weekly decline since this year. the 50-day moving average is something of a short-term indicator and we're hovering around it on a number of asset classes. this is the dow and we're doing sort of a first time this year and full day moving average and

since then we have come back. we'll watch this to see whether we go back, retest it, and then move lower and continue higher. and this -- same story, the ten-year note and what it's done. this is the yield. you can see we've been below it. now we're back below it again. do we test the 50-day moving average or do we go back again. oil, light sweet crude, this is the biggest meaningful moving day average. it is back to that level again with today's two-day rally. something to watch very carefully. and the vix, you just reverse it. the fear indicator has been above it for the first time this

year and now we're watching to see if it retests at the move there and moves higher. we'll wait and see. as for the sector. very much the risk on trade at this point. tuesday, the worst day of the year, now the best two-day gain since then. which market move do we believe at this point, joe? >> i think we're going to grind higher because the global chee is turning up there is still under lying growth. markets in general, still looking for 3.5% growth. >> are we trading right now on our fundamentals or somebody else's fundamentals? today's economic data not that great. >> i think it's on the u.s. because earnings season got off to a good start. corporations are going to be in single earnings digit.

guidance coming from overseas. it's u.s.-led but it's going to come from latin america and developing asia as well. europe is a problem, no doubt. tomorrow if we're down, don't be surprised. >> some of that could be a result of whatever earnings, 12 hours because we get earnings from google tonight, earnings from jpmorgan chase tomorrow morning. what are your expectations? >> technology is going to do well. the financials will see where we're grinding through the housing problems and so forth. but i think i still like we're overweight technology. good emerging market, infrastructure buildout. >> what about financials? >> we're neutral on it in the sense that we have the housing drag, very low interest rates, the yield isn't very attractive for banks. i think it's getting better. >> a debate with the fed about what to do about further monetary easing.

you heard among the doves on the fed who say, we may extend the low interest rates for the foreseeable future and then you have the coach who said, no, i think in six to nine months we should start to see it end somewhat. what should the fed be doing? >> i think the fed is going to be very accommodating. we're going to have to get used to this chatter that we're going to tighten, we're not going to. that's how it's going to be. if the fed does tighten, that's because the economy is improving. so higher rates here don't scare me. think of it that way. it's a stronger economy. >> but, remember, the fed -- the market started to go lower when there was a hint that the fed was done with monetary easing. >> but that was short-term. it was a near-jerk reaction. >> good to see you. thank you. >> thank you. >> we're heading towards the close and we're finishing near the highs of the day and don't go anywhere because we've got a lot to come