good afternoon, everybody. are you better off than you were four years ago? increasingly, your stocks are. we begin with breaking news and this major rally on wall street. sue? >> indeed, we do, ty. up 235 points.

investors like the bond buying plan. at least today. the dow jones industrial average up strongly, 233 points. the s&p 500 is at 1430.70. and the nasdaq is up better than 2%. it's outperforming the dow up 62 points at 3131.50. gold rallying, as well. which we'll talk about in a few minutes. crude up 1.3% on the trading session. so the rally is on. bob pisani's here at the nyse. they like what they did at the ecb so far and the adp number. >> and the ism services. does anyone doubt that the dag h h hi-bernanke put is true. it's a nasdaq 12-year high.

historic highs in health care, consumer discretionary and mostly retail and home builders. there's the home builders on the bottom. that's also at a new high. sue, volume's higher than normal. not seen this in a while. people covering shorts. vxx, that's a bet on the low volatility. people betting volatility on the low side. not working today. ultra short company, people shorting the s&p 500. that's not working at all today. getting out of those positions today and short things like financial stocks. there's the fax. that's getting volume, as well. >> 6% on the trading session. >> throwing in the towel a little bit on short. >> at least for today. talking more about that in a minute. back to you. >> never has so much economic talent assembled in one place at one time since milton freedman died. let's bring in the trifecta here. >> like a police lineup. >> let's start with michele

carruso-carera, jim cramer, simon hobbs. draghi saying it's rir e versible and buying bonds from the troubled eurozone nations and will it all work? who wants to go first here? >> i want to talk about why i think the market's so excited today and i think i'm calling this a market trifecta. the ecb action better than was expected by the market. and if you remember the whole week we were hearing resisting tamp down expectations. snok so the expectations, it was only yesterday that draghi could come forward with all but the german dissent. better economic data and the fed, too, because we've been thinking about the fed and the good economic data as an either/or but maybe you get

both. strong employment report and the fed still act on quantitative easing. three things. a decision next thursday and start meeting on wednesday. >> what's next? they'll buy the bonds as long as they commit to making changes so now we have to see the countries commit to making changes. >> i talked to my 19-year-old. i'll do as long as you make the -- >> right, right. >> we worked with michele before. >> so what's going to come next is a lot of back and forth. spain's going to agree. won't agree. seeing the markets go up and down. why is the ecb so insistent? go back to august of one year ago. this is when they made a supposedly secret deal. bring up the chart again that you had in the preview. >> promised to clean the room. >> right, right. said in august of a year ago, if you promise to clean your room, we will keep your interest rates low. and sill vie owe said, yes we

will and didn't. >> this is what conditionality means. >> yep. >> it means you got to do this and if you don't we won't. >> we won't help you and then like this with the interest rates. >> it feels like we've been here before. >> we have. >> there's a serious problem with this. there's nothing to be more -- we call it pro-cyclical. make the current situation worse than a country not meeting the targets and then have the ecb pull out. saying it is easy. doing it is tougher. >> simon, you have been silent. that's very good or bad. >> the first thing to say, the phenomenal move on both intervention and that in europe, a rally of 17%. 17% in 5 weeks. >> on verbal intervention. >> got a plan together that everybody agreed to. that's significant. thehorrendous.

how long are they willing to buy bonds? only to transmit appropriate interest rates at the short end. look at this here. do you see how high the yield on the 10-year still is? 6% in spain. how are you going to finance spain moving forward? it has to go through a bailout. there's so many unanswered questions here that i think this is the point at which you say, we had the plan. >> you can say that -- >> it's got to be chaotic. >> the bankers, whether it's in the united states or over there, have been talking the talk which is one of the reasons why the u.s. market's up 10% this summer is the anticipation of quantitative easing down the road. >> the ecb needs it. >> the question is, will they walk the walk? >> will the ecb -- this is the plan. now over to you politicians. they're finished. >> we have seen it. verbal intervention brought spanish interest rates down and spain is backing off saying, whoa, we don't necessarily need any help. you know? already in that drama.

can you put forward further austerity? >> not just since milton die dined alone. thanks very much. back to you. >> we'll continue the conversation here on the nyse floor. here with me is kenny pulcari. europe today is stabilize. a rally. listening to the conversation, you were making points to me during that. not only do they have to agree, spain and italy, to certain conditions, they actually have to ask for the aid and they have not done that yet. >> that's right. they have to ask for it and agree to the conditions and talking about this for a couple of days so everything that mario draghi said is not new news to the market. maybe excited because maybe it looks like we're moving in the right direction and dying for this crisis to be over. >> resolved, right. >> want it to be over and put this behind us but this news today doesn't really put it behind us yet. >> this is the fact of the adp report this morning, better than

expected but looming large is that robs report tomorrow. up 229 right now on the dow jones industrial average. do you buy in today? >> i don't think you do. i absolutely -- i think this is a way overreaction. i think this move up 27 points on the s&p at 1430 is a huge overreaction to the data. i'm excited about i. i want to be bullish and want the market to go higher but the pendulum swings too far and now it has to come back. tomorrow's numbers supposed to be plus 130. that's not even at that rate we have a long time to go before it starts to impact unemployment. >> so if you're a trader, not a longer term investor, but a trader, do you sell in to this in the close? >> you know me, i would be selling it in to the close. a long-term investor, you have to be patient. i think you get the opportunity. i don't by any stretch think the market will crash but i think it's going to come back in once you start to get -- the good story is back there. pushed back at the line. right? >> right. >> that's haunting the market

again. september's a tough month. >> all right. they're drunk on the economic data and the recipe which is drunken spaghetti. there you go. thank you very much. see you later. all day asking if europe stabilizes and the u.s. economy shows improvement in the next few weeks, would you buy and what would you buy? here's the results. 46% would buy stocks. 7% would buy commodities. 3% said they'd buy bonds. 44% said save up some cash. that's still a sizable cash position there, ty. >> certainly is. wow. more defensive than i would have thought. you know, folks, the only thing that would have been better than that last segment with steve, simon and michele is if this guy rick santelli was there to join us. let's talk to rick an see how bonds are reacting to the news from europe. go ahead, rick. >> very fascinating and somewhat predictable. we are up about 7 basis points. open it up to january 1st, and

this is fascinating, here we sit and we made the yield high in march around 240. low in july around 140. and here we sit on 167. definitely skewed to the low end of the range. how did europe fare? very similar. the benchmark 10-year up 7 basis points from the 24-hour chart and then very similar on the chart. here they sit at 155. the your ro currency is a big surprise. had a bunch of u-turns and trading at 126.30. should it close here, it would still be a fresh high close going back to the beginning of july. so the bazooka is working, sue. back to you. >> so far anyway. we should note the dow up and transports almost 100 points which brian, as you know, would confirm some dow theories.

>> absolutely. you know, obviously, we wonder where we go from here after rallying today. see what happens in to the jobs report. i want to talk about the battle for the diet dollar. diet drugs considered to be a huge market that's on the way. credit suisse not sort of waiting to take sides. they initiated orexigen at an outperform and arena at a not perform. up 12% and 3.5% to the downside for arena. see what's baked in here. you have up 243% and look at arena with today's slide. upside based on when's ahead in the diet drug space as i chew on my celery and carrots, sue. back to you. >> with low fat dip, i'm sure, brian. thank you. up next, one of the president obama's biggest backers is mayor of gary, indiana. you might say, though, that her city is left behind in the modern economy.

how's the president helping her? plus, amazon's big unveil on a day when the stock hits a all-time high. our jon fortt is live in l.a. jon? >> reporter: amazon ceo bezos is in there and other executives. they're going to show us the lineup of devices they hope to power amazon to new highs. perhaps shareholders, too. you can follow all the details here on "power lunch" coming up. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit.

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ford unveiling the plan to jump start european sales. phil lebeau with the details for us from chicago. hi, phil. >> reporter: this is an all-out product blitz and the europeans will see over five years. ford's ceo with the top leadership unveiling many of the vehicles bringing in to europe over the next five years. 15 in all. they're pushing small suvs and might be counter intuitive to some people, bringing the over in to europe including the escape model. ford's c eo earlier this morning on worldwide exchange telling cnbc they don't have a plan definitive yet for how they're cutting losses in europe but they believe in the future there. >> this is lil a very, very significant market for us. nearly 14 million units. clearly going through a tremendous recession and just like the united states, we're investing in the toughest of times so that the customers will

have the vehicles they want in value as the economy starts to come back. >> reporter: ford tries to fix sales and grow sales the big question for a lot of investors, what happens when the ten assembly plants in europe? is there a chance to curtail production further? 63% capacity in the second squaert and losses could be as high as $2 billion by an estimate on wall street. and as you look at ford stocks, off to the races today. this is the highest we have seen this stock since early july. some are wondering is it possible to get above $10? hasn't been there since springtime. >> phil, if this rally has staying power maybe it will. thank you very much. tonight, president obama will officially accept the democratic nomination for the second term as president of the united states. the business is building inside the arena in charlotte and talking with the may why are of gary, indiana. miss karen freeman-wilson.

madame mayor, nice to have you on "power lunch". >> thank you. it's great tb here. >> i'd like to talk about your city. reported to have a jobless rate of 14.2% in month of july and above the national average of 8.3%. some of that i think is due to the steel industry and automation. various issues of hard manufacturing. yet, at the same time, you're supporting president obama and his economic policies. what have they done to help gary, indiana? >> we have had a tremendous amount of help from the federal government through the federal aviation administration and our efforts to expand our airport. through the department of transportation as we build on our trucking assets and work with our bus system. and through the department of housing and urban development in our efforts to deal with our abandoned buildings and our public housing. and so, yes, we want to hear

about jobs. we are interested in training and education for displaced workers. but we have been great beneficiaries of president obama's plans. >> you know, madame mayor, i guess the question of the week is, are you better off than you were four years ago or that's how some in the country and some in the gop have phrased the referendum on this election. is gary's economy better off than it was four years ago? and specifically, what about unemployment? compared with this time in the fall of 2008, where did unemployment stand then compared with the roughly 14% today? >> well, our unemployment has always been exceptionally high. it was probably even higher then and why it says 14.8%, we are closer to 25% or 30% looking at individuals who have never even entered the work force. but we are better off because there are programs under way.

we have been able to really work with the department of labor to train people who have never had training. and that is why i say that we are on the rebound and four years ago there was no rebound in sight in gary. >> madame mayor, a number of cities tried to reach out to diversify their economy and as we mentioned steel and hard manufacturing has really been the life blood of gary. you mentioned some of the initiatives that you have put in place with transportation and the faa. but have you tried to court some of the higher tech industries, the clean industries to gary, indiana? have you reached out to try to diversity further from manufacturing? >> we have. in fact, we are working with medical manufacturers. we just had a manufacturer of medical isotopes to talk about locating in gary and they have expressed their intent and one of the reasons that they decided to do that is because we have

the indiana university northwest campus there and working very closely with them. in addition to that, we're really building on our transportation assets. the fact that we're only 30 miles away from chicago and the fact that we are in the midst of three class 1 rail lines and 4 interstate highways. that speaks transportation and logistics all day long. >> madame mayor, thank you very much. pleasure to see you. >> thank you. all right. kayla, over to you. >> sue, jp morgan announcing the new chief investment officer of craig delaney. internal memo of the co-coo said he is outstanding executive understanding how to run complex

businesses and also notes that the c io will return to the core mandate of conservative investing. interesting to note in that scope that delaney's background in mortgage banking and most recently served as chief operationing officer and a fourth trader investigated over trades that resulted in losses that now stand at $5 billion and the rest of that portfolio is moved to the investment bank. sue? >> thank you very much. on a very strong market day, jpmorgan chase up on the day. amazon getting set for a key product launch. we'll have it for you live coming up. plus we're analyzing the analysts. in the mix today, snacks, banks and wolves? yes, we are talking snyders-lance, suntrust banks and wolverine. big thursday movers with bank of america up, jpmorgan up 4%.

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nasdaq at 3131. higher by 62.62 points. how about that for newseumologists? >> thanks. look at gmc, green mountain coffees. they're getting patents on two of the k cup patents. they're introducing some infused teas and such, drinks here. six varieties and wellness brewed. they put vitamins in there and hopefully spice up their offerings. people seem to like it. the stock up 4.5%. back to you. >> thank you very much. let's do some analyzing the analyst of scott freeze. start with key bank upgrading snyder's-lance adding that the valuation does not fully capture the long-term value creation opportunity. how's that for jargon? what do you think of the peanuts, the peanut butter

crunch? >> i love the acquisition. perfect sense for the company but the stocks up 12% today and almost at the target so does that make it a hold from here instead of a buy? you have to think so. >> let's move on now. jpmorgan upgrading suntrust banks to overweight from neutral. one of the two top beneficiaries within the banks universe of the housing market recovery over the past year. the stock up about 45%. so, if the snack cracker company up 12% today, this is up 45%. are you too late? >> no. i love suntrust. it's a mini wells fargo. they stand in the space in regional banks to be the biggest recipient of a housing turnover for us and on top of that, they also have a good takeover component to it. in case the big banks buy out the regionals again. >> a mini wells fargo. well said. stifel nicolaus downgrading w wolverine and says it sees more

of a challenge than anticipating from the european market in an 8k this morning. shares taking a bit of a beating this session. down today. >> don't like wolverine at all. too much european exposure. not enough in the u.s. should be a sell instead of a hold. thank you very much. is the obama administration manipulating housing data? a woman in the business thinks so. amazon all-time highs today ahead of a key product unveiling that's minutes away. we'll have it for you and the metals market about to close. we'll hit the floor of the nymex on the other side of the break. bob...

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and some breaking news right now. amazon's ceo jeff bezos holding a press conference in beautiful santa monica, california, expected to unveil a new version of the kindle fire. and maybe even some other devices. jon fortt is inside. our julia boorstin is outside to break the headlines for us. this is a big half hour coming up. don't go anywhere. amazon shares hitting a new

record high in today's rally and of course almost all stocks, in fact, all 30 of the dow earlier today higher. amazon not a dow constituent but 2% to the upside. up 45% year to date at 251.02 as the rising tide lifting that particular boat on amazon. sue? on a day when we have a 224-point advance in the dow not just the dow moving higher. gold topped the $1,700 mark for the first time since march. sharon epperson is back to track the action. you have a decent rally. >> definitely. of course, gold is a great gauge to figure out the market feeling and sensing about qe and we did see a significant rally in gold in this session. we got as high as $1,717 an ounce and now closing above the $1,700 level for the first time in 6 months and hearing from the ecb of bond buying and going to be stimulus action here probably both sides of the atlantic.

that is something that's definitely helped gold get above the key psychological level and gold in dollars and euros. in terms of the metals market going forward, of course, the jobs data on friday and a positive jobs number to indicate maybe not as much stimulus needed and could possibly tank gold. back to you. >> sharon, thank you. as you know the europeans announced a big bond buying to help out the debt strapped plans. over here, bullish reports on jobs. tomorrow the key employment report. bob's sitting right here. as a matter of fact, you seesaw little bit of him. >> that was the wrong angle for me. >> you were pointing to me doubled the normal volume in yourp. >> in europe. >> and here we're not doing too badly. not doubly. >> over 4 billion shares at the nyse. the's pretty good. new highs across the board for

everything. we're at 12-year high on the nasdaq. s&p health care and consumer discretionary indices are at historic highs and the home builders. people trying to short the market for a couple of weeks. they're covering. exchange traded funds, there's a short getting a lot of volume and people out of this. that's a form of covering it. vxx, count on higher volatilities. the vxx is getting volume now. people getting out of that and in to stocks, out of bonds. tlt, the long term bond etf is down. that's a big percentage decline today an enthe higher yields. >> 10-year moving highs. bob, thank you. see you later. over at the nasdaq, that's actually seeing new highs for the most recent move and seema mody is here with the big movers over there. a better percentage gain than the nasdaq on the dow. >> the bulls intact.

definitely getting rewarded today and thank mario draghi and the better than expected economic data of this morning. the nasdaq with a 12-year high. stock specific, though. semi conductor stocks leading and saying that basically all the product unveilings is higher demand for the chips to power the devices so overall favorable supply-demand equation. sandisk best, up. unveiling amazon with an all-time high as tyler mentioned a couple of minuting ago. also t ivo with a strong bid today. the $9 stock launching tivo stream to stream or dvr a show at home and stream it on your phone or tablet. really interesting product over there. back over to you. >> thank you very much. the housing sector really on a tear in this rally. the dow jones u.s. home construction etf touching a

four-year high. look at that. $18.69. it is up 5% or 2% today, i should say. who are the winners in that index? if you would like to know, lenar and rylan group. and there are today's moves. up 2%, 3% or thereabouts. as housing begins to heal, according to many, a new kind of crisis is hitting the industry and it does not have to do with underwater mortgages or foreclosures. it has to do with jobs. diana o lick with the story. hi, diana. >> reporter: that's right, tyler. it's an incredibly bitter irony as you see from reports today demand is back with new orders up in the double digits. get building, right? not so fast. remember that this industry lost 70% of the business in the housing crash and lost plumbers, roofers, framers, electricians

and unfortunately in some markets despite the new work a lot of them are not coming back. >> we're seeing tremendous demand this year as people are taking advantage of low interest rates and great prices. so although we're able to build about 40 houses a month we could probably build 60 if we had enough labor and contractor support. >> reporter: the problem is worst in the southwest and west where the recovery is taking home and permitting is faster. in the past, when labor was tight builders hire workers and train them on the job but the highly efficient green home technology requires skilled labor. an industry training group says nearly half of builders the group surveys say certification is critical in hiring. currently about 13,000 students in the construction training pipeline at 120 sites around the country. now this as housing starts rebounded over 21% from a year ago and new building permits are

stronger. don dykstra says the contractors are actively recruiting new workers. >> starting to work with the schools to get people interested again in going in to electrical and hvas, plumbing, mechanical trades and also the framing trades. we just need the skilled lay before to come back from whatever industry they left us for. >> reporter: with the skilled workers in such demand, wages are rising. labor is up with a median increase of 4% according to a survey of dallas area builders by texas-based residential strategies. we have interesting responses on the blog saying why not just raise the prices, wages of the workers. the builders say their margins are squeezed. they have to stay in competition with the foreclosures and raising them too high they don't meet the appraisals in today's tight mortgage market. tyler? >> that's an issue as appraisers

look at the screws on the houses. next guest says, diana, hang on for a minute. do not be fooled by the data or overscared sometimes. here now dolly lens, number one real estate agent in the country. over the years to lots of people who are what they call bold-faced names, dolly. i want to be clear here. in the tease we talked about the concern of administration housing data. it's not -- are we right? characterizing it that way or not? >> no, no, no. just the housing data. the nar or case schilling, radar logic. whatever data it is, it should be moving in the right direction. >> you're not alleging anybody in the government is manipulating any housing data, in fact, the housing data we see doesn't really come from the government of fha or hud. >> correct, correct.

i'm saying we should be skeptical. any buyer or seller of real estate, this is a huge decision. right? biggest decision in their life financially so they should be skeptical of data and make sure it matches. >> what do the data as you look at them as a group, what do they tell you today about the health of the housing market, the direction of prices? >> well, the nar restated their data last year. they had a little blip, a little mistake over four years. they restated that so now i guess we can look at that in the background and say, okay, so that's now redone and looking forward i would say the housing data is looking better. okay? so everything is on a good, positive trend. but it's still a trend so let's not look at headlines. what are mortgage rates? inching up a little bit? we have a lot of trouble with banks giving mortgages. >> they're not willing to give them. >> exactly. >> with the same sort of generosity as they did four, five, six years ago. >> employment is biggest headwind as you just mentioned

but a lot of others, as well. when you're making a decision, look at trends. trends are your friends. if the data is true, it's true across the berd. >> pay attention, i would think you would say most especially to the trends in your neighborhood, in your town. >> exactly. >> what's happening in albuquerque may not be happening in allentown. >> the apartment across the street, the house across the street is more important, the data on that particular data point is more important to you than the macrodata we're talking about. >> bottom line me here. you say the trend is. >> positive. >> better than it has? >> but we're comparing it to a low so better than it has been but not great. just positive. >> back but at a lower level a little bit. >> yes. >> great to see you. >> thank you. >> terrific. sue? >> thank you. let's recap the other big headlines driving today's bullish session. stocks in rally mode. exxonmobil, home depot, disney, kraft, four dow components

litting new highs and jm smucker's back to the ip of of 1959. mccormick at all-time high levels. not seen since it started to trade in 1999. not everybody, however, is taking place in the big rally. walgreens is down. the pharmacy chain says the august same store sales fell 8% on the trading session. brian shactman is back with a market flash for us. >> what do you do on a day like today? miss on the top and bottom line and negative guidance? if you're utiw, you rally 10%. a logistics company. they missed across the board but they're rallying some analysts say on short covering not as bad as expected. pretty interesting price action. back the you. >> indeed it is. thank you. a big market day down here at the nyse and the dow jones industrial average up about 235 points. and as a matter of fact, that's confirmed on the trading session by the transports which are up

just under 225. nasdaq up better than 2% and $12 val val rally on gold, as well. not to be left out, cisco up 3%. microsoft up almost 3%. the same can be said for alcoa. back in a moment. ask me what it's like when my tempur-pedic moves. [ male announcer ] why not talk to someone who owns an adjustable version of the most highly recommended bed in america?

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take a look at shares of amazon up better than 2% at $251.35 on the trading session. as you know, the company has a big event in santa monica. our julia boorstin is out there and jon fortt and they'll have it covered for us all day here on cnbc. all right. let's see what's coming up on "street signs" is brian sullivan. >> we'll take you live to the dnc. the president speaking tonight

and herb greenberg has three stocks to watch all fall long. and by the way, guys, i don't think it's a kindle. i don't think it's a phone. i don't think it's a tv. my prediction, amazon will unveil a deridgible to carry the masses coast to coast in style. we'll find out if we're right soon. >> i love that. amazon deridgible. it's the future, ladies and gentlemen. let's talk about jeff bezos and the company. the stock as we just mentioned a moment ago rising with the market. all-time highs for amazon. he is the man of the moment on stage right now. unveiling products to help push amazon to the next level and landing ironically or maybe not ironically making absolutely intentionally on "vanity fair's" new establishment leaders list for 2012. the list in the new issue. it hits stands today. and one of the first things you notice is that there's no longer a who's who of bhood.

it is now the biggest names in technology. and business. in the new establishment. take a look at the top 50. i looked for my name. and i looked and looked. only tyler i found there in the fourth column was tyler perry. well, that's a way it is. there you see. cook and johnny ive. and number three, jeff bezos looking across there. peruse it. let's talk to betsy lark of "vanity fair" and mr. bezos. why is he so compelling and establishment? >> he's new establishment because when we look at the new establishment list we think about disrupters and he is the ultimate disrupter and amazon is a disrupting company thinking about the book publishing business and electronics and all of that. in terms of the list, he is a disrupting force or the company is. in the technology business.

>> has he moved up or down? can't move much higher up. i assume he's moved up on this -- not that jeff bezos wasn't around, betsy. he's been around for a listening time doing this. >> that's correct. he's been on the list many years and always hovered at the top because he has run the company very well. he's a long term thinking and he's not afraid of conquering newen from tiers and what i think he is doing right now to announce more improvements on the kindle fire and the ereader and possibly a phone today. i don't know. but so he's been on our list for sometime. >> a fascinating guy and i guess when i think of people in the new or the regular establishment, i think of folks who are really very visible. now, he is, in fact, on stage right now. >> right. >> but he has kept a pretty low profile personally. >> that's right. >> compared with some other executives. >> right. that's true. that's true. you know, when you think of steve jobs, obviously, he kept a

pretty high profile. jeff goes out like today for product announcements but a real businessman and a creator. >> take us through the others on the list who were, let's say, big movers this year. marissa mayer of -- >> right. she was not on the list last year. the news of her taking over yahoo! was huge and so she moved from not being on the list to number seven and watching her closely. it's a big job she has and i think she's up to challenge but it's certainly not going to be easy. >> and a couple of others, it's a very tech heavy group, frankly. >> correct, that's right. it used to several years ago be more media heavy and i think we know why that's changed. >> herb allen iii, the son of herb allen the investment banker to the media properties on the list, as well. >> that's right. third general allen to run the company and he is like his father in that he keeps a very low profile and really an

established footprint in the tech world in terms of investing in companies, advising them and then you can never discount the sun valley conference because that's a huge impact in terms of drawing in business and deals and does a smaller conference in arizona with the digital ceos and founders so he's a very important force in the tech world. >> give me sun valley over davos any day. the newest issue of "vanity fair" with who's that? kate! there she is on the cover, on news stands today. sue? coming up next, the europeans make a move to buy bonds. u.s. manufacturing, bullish reports on jobs and stocks are soaring. a lot of companies hitting new highs. how should you be riding today's big rally? as we head out, how some of america's most widely held stocks are trading in the environment. microsoft up almost 3% better, than 3% gain in cisco and j&j up 1%. the better you trade.

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all right. down here on the floor of the nyse, so far, so good anyway for the bulls with the dow up 232 points on the trading session. the s&p holding on to its

advances, as well. it is now up better than -- almost %. nasdaq the best out of the three indices. up 2% on the trading session. brian shactman with a market flash. >> not so good for tango. it's a business software company, a small cap. copperfield research basically said they misrepresented their growth and want the s.cc involved. down almost 13%. sue, back to you. >> all right. julia boorstin joins us now. amazon unveiling the latest developments and she is, of course, in santa monica, california, with the details. what do we got, julia? >> reporter: sue, jeff bezoz s unveiled the kindle paperweight with a front lit display and easier to read. 25% more contrast thanks to more pixels so this is one of the gadgets that was featured in the commercial that ran in the nfl game last night.

ceo jeff bezos saying that people want services, not gadgets saying that the kindle fire, the touchscreen tablet is a service not a gadget. now, bezos is talking about the patented light guard and easier to read and use and it's eight weeks of battery life, even if you leave the light on all the time and battery life is something that people are complaining about with the tablets. sue, continuing the man or the and back with more headlines. >> thank you very much, julia. all right. no more brighty whitey book lights for me. especially with a back light on a kindle. we're up on the dow jones industrial average. bob and kenny is back with me. you think we're way ahead of ourselves with this and we have information in the transports, the volume is up. >> right. right. >> just pushing back a little bit. >> i understand. that goes back to the argument i think investors in the market wants to be positive and looking for a reason to do that. all i'm saying is just be

careful. especially talking about this is going the cause the retail people to yump in. typically that's a top of the market and just tread lightly. >> bob? >> well, you know, i think the germans are right. you can't solve fiscal problems with monetary policy but you can juice the stock market. you can juice the stock market. we proved it today. is mr. bernanke in a tough spot in the adp saying that the nonfarm payroll numbers are stronger but may be stronger than expected. when's mr. bernanke do? the sense is they do want to ease but the numbers stronger they hold off. a question of how the market greet that is. >> there's a question of professional money managers that have missed some of this rally, as well. >> right. >> they're going in to the end of the yore. they have to make the back. >> that's right. they have to do something. we were talking about that. feeds on itself because a lot of people have been waiting an waiting and they have to jump in at the end of the year. >> right. >> it's going to be self

fulfilling and the market higher as a result. >> not only the s&p at a multi-year high, anger and frustration is because these guys, many guys underperforming because they don't like the fact that -- they shouldn't be here and the economic realities and agreeing with bernanke-draghi put and does help the market. >> so what you really talk about is artificial stimulation like you said. the market essentially shouldn't be here but it marches higher. >> thanks very much. ty, over to you. >> thank you very much. next hour, all the reasons for the rally and the one thing to derail it and the mobile phones. herb has the three stocks that need to be on your radar. a couple of familiar names an one you probably haven't heard of. posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs.

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