>> pete? >> kodiak, one of the names that continues to pop up. it goes higher. >> joe, what do you like or dislike in. >> mastercard, i think you want to be long. it is about to make a move to its all-time high, going to 700. >> simon? >> suntrust bank. >> have a great weekend. see you on the other side. "power lunch" is up next. "halftime" is over and "power lunch" and the second half of the trading day starts right now. indeed it does, a wild and volatile day on wall street. stocks up on the jobs report and gyrating on syria. what's an investor to do. well, we have more than $5.5 trillion worth of investment advice for you from powerhouse black rock and also fidelity. rising rates. benchmarks on the ten-year yield hitting the 3% mark yesterday. town a little bit today, but why should 3% actually matter to you? think about it. the impact on auto loans, mortgages, credit cards and many

other loans, and we are going to talk about why it matters to you and what you should do now in a rising rate environment. and we are also approaching the anniversary of the financial crisis. ify yeaand simon hobbs joins me here at the nyse. >> early stock market gains on the backs of the employment report turned to a triple-digit loss earlier this morning. since then we've been climbing our way back. mary thompson has been watching all the action. tough day. more sensitive to the downside than the upside at the moment. >> that's right. we're holding on to a 22-point gain which would be the dow's fourth gain in a row if it holds right here as you take a look at the markets. a wild day, the dow in a 200-point range dropping on comments by putin and recovering. here are some of the groups we're keeping a watch on today. because the yield on the ten-year has come off the 3% and it touched overnight and because, of course, that weak

jobs report we're seeing strengths in the rate sensitive sectors, utilities are higher, reits and home builders and industrials getting a bid in the last hour. continue to see weakness in telecom which has a lot to do with weakness in verizon. the latest news coming out of that. shareholder is suing it because of its acquisition in verizon wireless. dupont and verizon wireless the leading losers in the dow. chemical companies under pressure because of what we've seen in crude oil today. >> mary, for the moment, thank you. let's bring in kenny polcari, director with o'neill security and a cnbc analyst and jeff kilberg of kkm financial and a cnbc contributor as well. jeff, let me kick off with you. what is the main takeaway from what we've seen today? >> i think the main takeaway, simon, is we've exposed the

underbelly of the market. has revealed how skittish the market can be, the russian rhetoric from putin. i think the fragility of the market was exposed and there is resiliency but we should see more selling pressure as the close happens. >> the president returns back and has to try to win over votes in the house. we'll get a national television address from him on tuesday on the subject of syria. you would be negative in that conte context, jeff, is that what you're saying? >> obama, floated that time line a little bit further but russian opposition is going to service, and there will be unfortunately, turmoil in the next couple of weeks. trying to position it. the big picture, look the vix and s&p, a lot of complacency out there, but we did expose how fast these markets can move this morning. >> okay. meantime, of course, the employment report for many people was very soft. bank of america, merrill lynch, says they are sticking to their call for no taper in september.

let's get an italian's view. >> listen, i've been saying it for three or four months now. i can't see how it's going to happen. today's data solidifies the fact. >> let me ask you, given the fact that we've had so much talk. can we enter a sweet spot where we don't get the taper and a pleasant surprise that just lifts risk assets. >> we do, but i think like what jeff said, what's going to start to trump everything is this whole syria thing so until we get through next week or the week after and the president makes his spiel and addresses the nation and people get a sense of what's really going to happen, that's going to keep a lid on the market. >> one thing i want to add here, this taper talk, it's happening, and we saw 3% trading the ten-year, huge. that type of velocity, the fed has to say we're at least looking at the window. there's a big difference, simon, between taper and also tightening, but more importantly it's talked exit. they are not exiting any time soon, but they have to look at the door here. >> and we're going to talk about

specifically yields at 3% in a very short period of time. for the moment, thank you very much. jeff and kenny, have a great weekend. thank you, guys. over to you, sue. >> the data that triggered some of this movement today, the jobs report. 169,000 jobs created last month. forget the payroll's number. steve liesman is looking at what really matters to the fed and the whole discussion about tapering possibly ahead. >> sue, the most important number to my mind for investors on wall street, the decline of the unemployment rate that came largely because people dropped out of workforce this. presents a quandary for our central bank, the federal reserve. the numbers i'm talking about, august up 169, right around expectations, the july revisions, that's 74,000, that's my mistake. unemployment rate 7.3%. that was better than expected. earnings, okay. average workweek okay. participation rate down two ticks to 63.2%. the unemployment rate dipping to 7.3 is halfway to where the fed forecast it would end all

quantitative easing, but the drop attributed almost entirely, 300,000 dropping out of the workforce presenting a problem for the fed. is there really that much slack in the labor force, or have people dropped out for good? some of the commentary, how can the fed still taper? we just heard that. pantheon saying it should be enough to taper. rdg saying it's disappointing, will make the taper debate an intense one, and hfe weighing in saying the weight of evidence suggests strengthning but my take is the number is just good enough to prompt the fed to taper, but it could come with pailtive guidance about rate guidance. i have the results of the cnbc fed survey. >> right. >> can't give. >> you oh, stop. >> we have to collate them. our man back here is going to do the collating right there. we'll have them at 3:00, the top of the 3:00 and how the market is changing its expectation for the fed as a result of today's employment report. >> fantastic. >> and thanks to all you guys who submitted answers. >> do appreciate it because it's very insightful every time we do

it. see you a little late they are afternoon. >> wish i could give it to you. >> you would if you could. earlier today president obama speaking at the g-20 meeting in russia laying out his call for action against syria, but reports that russia's putin will continue to aid syria in the event of a military strike has complicated the situation. cnbc's steve sedgwick is live this st. petersburg for some perspective on that. good evening, steve. >> reporter: sue, thank you very much indeed. i listened to what both presidents, mr. putin and mr. obama had to say and it's very interesting, their intransigent view and inability to persuade colleagues here at the g-20 was the whole hub of the meeting. supposed to be about economics and jobs and growth. it all came down to syria, from start, to during, to finish. president obama for his part was saying very clearly he believes the international community, which is a reference to the u.n. security council, was incapacitated, and he had very good and strong reasons over

chemical weapons and their use by the al assad regime in syria for going to have some form of limited action. let's listen in to hear what president obama had to say, and listen carefully to the reference which i think is implicitly saying this isn't iraq this time around. >> this is not something we've fabricated. this is not something that we are looking or are using as an excuse for military action. as i said last night, i was elected to end wars, not start 'em. >> and i think we're getting from the president very clearly that this isn't false evidence, not going on some spurious wmtd ca case that was potentially that in iraq. president putin's remarks, and i'm not sure if the markets read what he said correctly.

he was asked directly will you help syria if there's some action against the al assad regime? >> he said we will happen. we sent arms and economic help and humanitarian help as well, and i think if we look carefully that's not a new comment from the russian president. i want to make an economic point and it goes on to the previous conversation about fed tapering. in the final communique there was a little bit about economics and business as well and there was one line this, line. monetary policy changes need to be carefully calibrated and clearly communicated. now i spoke off the record to one senior administration official just now, sue, and that administration official told me, yes, they agree that that was a nod to the fed and that the fed has to carry on talking, not only to america but to the world of when they begin tapering the quantitative easing. sue, back to you. >> thank you very much. the disappointing employment report sending yields back below the 3% mark.

a lot of people expect us to test the 3% yield mark again sometime very soon, so why is 3% on a yield basis so important? michelle caruso-cabrera is here to explain it to us. >> not that 3% is so high but just that it's much higher than a year ago. a chart of the ten-year yield, right now at 2.899% and much higher a year ago when it was approaching 1.5%. you don't know when the ten-year yield is, novice to cnbc, very simple. what the u.s. government has to pay if it wants to borrow money for ten years. so right now it's 3%. this has an impact on both your pocketbook and also your portfolio. the pocketbook part is pretty intuitive and easy to understand because mortgage rates, business loans, auto loans, credit cards and personal loans, those are set against the ten-year yields so when it goes up those go up as well. mortgage rates are now 4.5% for a 30-year fixed, a year ago 3.5%

meaning a monthly payment on a $200,000 is up 90 bucks compared to a year ago. now your portfolio, how does this impact, because the ten-year yield provides competition to other investment products that pay dividends or interest rates, so, for example, take a look at what's happened to interest rates in both mexico and netherlands and to interest rates all over the world. they have all risen because the u.s. government is still considered the best credit rating in the entire world so if we're paying more, everybody else has to pay more. why would you give 3% to a less secure investment when you can get it in a u.s. treasury? so, other countries have to pay more. that also means though that stocks and high-yield bonds, et cetera, those that pay well as dividends tend to get hit when u.s. interest rates rise. so take a look at utilities. you can see they are lower than they were just about six months ago because say if i can get 3% on a ten-year yield in a government bond, why risk it on

a stock, right? you can also see that with high yield corporate debt, what we call junk bonds, et cetera, the high yield index. it, too, has declined so you'll see those are the impacts that we see throughout different parts of the investment. the good news, sue, a lot of people think the yield is rising because the economy is getting better. >> exactly. that's the perfect place to leave it off. michelle, stay with us, a perfect presentation and "power lunch" will dovetail you that and bring you $5.6 trillion worth of advice on our show today starting with black rock, the world's largest asset management with 3.8 trillion under management. michelle laid it out beautifully for us. from your perspective many people think that we're going to test 3% again. why does that matter when it comes to bond market investments? >> yeah, i think it was laid out very well. it's not necessarily the level. it's where we've come from to where we are today. you know, if you think about in the last four months, four, five months, you've had three of the

worst months in the last 35 years from a risk reward perspective, mid-teens types of return losses for long end treasuries and long end investment grade debt, the worst assets in the world and it's creating a need for people to think about fixed income, diversify their fixed income and think about what used to be the safe asset class. has to be managed and looked at differently than it has in the past. >> to michelle's point, and you made the point that maybe yields are also rising because the economy is getting better, notwithstanding today's employment report. >> that's the positive way to look at it, but you have to think about when it happens there are all kinds of investment implications that go along with it and risk reward changes dramatically depending, you know, on what's happening in the world. so how do you invest given what we've laid out here. what are you telling your clients in terms of where if they want to be in fixed income where they should be in terms of duration. >> sure. you know, i think a lot of that commentary is exactly right. much of what's happened, everybody is talking about taper

as that's the story. i think taper was the story truthfully two to three months ago in terms of the big move in rate. and now much of what's driving the rate is things like economic normalization in the world and you're seeing china is not falling off in a hard landing, europe, the data is significantly better so i think we're in what's a more normalized economic investment. with that what do you do with that? means you have to try to create income in different ways, taking interest rate risk and placing where the economy is reasonably good is tricky. fed is going to remove. it's going to start removing this large-scale asset purchase program. it means you have to be careful about long end interest rate risk. own your interest rate sensitivity shorter on the curve, own spread income in different ways. keep your interest rate risk down. you can still take interest rate risk in parts of the world where policy -- where policy is going to be easy for a while. being flexible and making fixed

income because interest rates won't work for you. >> impact on housing and michelle mentioned it earlier. talk it me at what level people start to pull back because of an interest rate risk. >> well, we're already seeing people pull back. what we eve seen so far is volatile rates, the most volatile they have been in over four years. that's what the mortgage brokers are telling me. we've seen rates higher than 4.5%, 4.75 and 4.8 heading up to the crucial 5%. that's an emotional barrier. remember, still very low historically, but when people see that 5% it scares them off. also a much higher monthly payment so if you have the affect on home buying you also have the effect on buying. we were in a housing crush but in a refinance boom thanks to the government-induced low mortgage rates and government refi programs. seeing that refinances are down a whopping 57% from a year ago, that's taking cash out of

people's pockets limiting spending money. it is not going to help the housing market in any way. some people came off the fence and became buyers when rates started to rise because they got nervous, but in the long term it's going to hold back the housing recovery. >> all right. thank you all. rick, appreciate. it always good to see you. michelle, see you a little later today. simon, down to you. >> ahead on the show, we'll talk jobs, syria and the economy. that's all when we come back on "power lunch" heading into the weekend. playing this and tradin. tdd#: 1-800-345-2550 and the better i am at them, the more i enjoy them. tdd#: 1-800-345-2550 so i'm always looking to take them up a notch or two. tdd#: 1-800-345-2550 and schwab really helps me step up my trading. tdd#: 1-800-345-2550 they've now put their most powerful platform, tdd#: 1-800-345-2550 streetsmart edge, in the cloud. tdd#: 1-800-345-2550 so i can use it on the web, where i trade from tdd#: 1-800-345-2550 most of the time. tdd#: 1-800-345-2550 which means i get schwab's most advanced tools tdd#: 1-800-345-2550 on whatever computer i'm on. tdd#: 1-800-345-2550 it's really taken my trading to the next level. tdd#: 1-800-345-2550 i've also got a dedicated team of schwab trading specialists. tdd#: 1-800-345-2550

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welcome back to "power lunch." consumer products giant johnson and johnson has moved towards their session highs. businesses to fetch around $5 billion. they are talking with possibly private equity and health care firms over a possible deal so watch those j&j shares as we head towards the afternoon session, sue. back over to you. >> sure will. time for the power rundown. we focus on jobs and a lot more. joining us here at cnbc headquarters. more moriel, ceo of the national urban league and ron christy ceo of christy strategies and former adviser to presiden tha n good. the economy is in a state of suspended animation, and while we've had continuing growth, i think that now we've got the syria situation sort of hanging over the economy, and we've also got the effects of sequestration because there was very little growth in the federal jobs sector in the last month, so we're seeing the effects of this, and i think but for sequestration we might have maybe a point higher in economic growth and maybe more jobs being created, so while job growth is consistent, it isn't enough to bring that unemployment rate down as we've talked about a lot. >> ron, do you agree, the sequestration issue has been brought up a lot? i think there's some validity to it, but the discouragement of workers is troubling, not only i'm sure to the president but also to the federal reserve board chairman who has brought it up a number of times. >> i think that's right, sue, and the one thing, people look

so much at the sequestration issue. there's a certain amount of uncertainty. what will obama care do as far as full-time employment. america is headed towards a part-time nation. you look at number of people who are either uncertain about their long-term job prospects or saying if i don't job out i'll at least get a part-time job. i think the president right now needs to send a very clear message and be very deliberative of here are the barriers to economic growth and here are the things government can do to get out of the way instead of thinking government should be the solution to the problem. >> mr. mayor, you brought up syria, and we were talking in the newsroom yesterday about it. given the fact that the latest nbc news poll a large percentage of americans run certain whether or not military action is a good idea or are against it, if indeed we have a strike, could that have a chilling effect, if you will, on economic growth, on -- what does it do to the psyche of the american public? >> important question. first we need to affirm that the use of chemical weapons violates

every international norm. human rights and human deese circumstances and there has to be a spofnts the question is a military response the correct response under the circumstances, and i think the american public has heard in the past this is going to be a limited engagement. what they saw with iraq is a long-term engagement, so i think there's a great deal of, if you will, lack of trust that the talk of a limited engagement in fact will stop there and it might even be deeper than that. yes, is there concern as to the effect on the economy, the effect on the energy sector is a possibility. the effect of a spillover effect in the middle east is certainly i think things that we have to be concerned about, so i think the american public's caution is now being expressed by how congress is reacting. reactions from both sides of the aisle, both for and against. >> you want to weigh in on that?

>> i do. i think it's a very important topic of consideration for our leaders in washington to tackle very carefully. i'm disappointed that the president didn't call congress back in an emergency session. if this is so important and so vital to the american security interests, the american congress should have come back and debated this issue. now we'll have to wait another week, another of week could bashar al assad move his stockpile and iran by proxy be coming into this conflict and, of course, being mobilized to help the syrian government out with weapons, so i think president barack obama needs to go before the american people in the oval office in an address and say this is why it's in our domestic and national security interest and these are the consequences if we refuse to act. >> and i think you'll see the president address the nation sometime soon. >> tuesday he's going to do that. >> but i also think the president did the right thing by saying to congress i'm not going to do with without your support and authorization because one thing it does it prevents members of congress from talking out both sides of their mouth, from having it both ways and also demonstrates that if the

united states is going to step out absent a resolution of the u.n. security council that the legislative and executive branches are aligned. >> less than a minute left. you know, there's a lot of talk about who will be the next fed chief. a number of people have said larry summers is not the right choice. certainly very intelligent man but he tends to be a little abrasive on capitol hill, and the president seems to be leaning in that direction. do you think that the president -- you've been in the white house. how is this all going to work? is he going to listen to those who say it should be janet ye yellen or not? >> i think it's a mistake. there's the committee charged with confirming the next fed chair who have said on the record they won't vote to confirm him. sumers is a brilliant economist but he's too abrasive and many think he's too tightly close to

wall street. >> and i think the concern with larry summers is, one, can he be confirmed, and, two, does he have the sensitivity to main street america and that's really important? i know larry summers. he's a brilliant economist but the chair of the federal reserve is a very powerful position. it's a position that will last beyond president obama's term in office, so i think the president is going to have to carefully, carefully weigh what many of us are saying. >> gentlemen, always a pleasure. >> nice to see you. >> thanks, sue. >> simon, down to you. >> ahead on the show, sue. a majoror legal setback for apple and its e-book case that comes up on tuesday and wednesday next week, ide rairad a new iphone. and also, fed tapering and where

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in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. apple is trading slightly higher on the session. a federal judge has found apple is liable for conspireing to fix e-book prices and has entered an injection to bar them from making any further antitrust violations. to explain more here's julia boorstin from l.a. julia >> reporter: apple knows its punishment after losing that price-fixing trial, big moves to limit its control over e-book

pricing, though not as extreme as what the department of justice was originally asking for. judge requires apple to sever any agreements with the biggest book publishers that restrict book prices. apple must eliminate its guarantee its e-book prices would match the lowest prices found elsewhere online and it has engaged a third party to make sure it complies. apple said the ibook store injected much needed innovation and competition into the market. apple still faces class action suits and claims files by state attorneys general so, simon, this is far from over >> for sure. julia joining us live from los angeles. let's talk about apple's two big media events next week, in california on tuesday and in beijing early wednesday morning. cnet's molly woods joins us with

the very latest of what people are talking about in the market. molly, obviously the iphone, the two iphones are the most important, but let's deal, first of all, with the iradio, what are you hearing there? >> yeah, this will be the much anticipated launch of apple's iradio project and the main question is how much music is in there? this is a very crowded space, other companies including google, pandora, spotify and the only way apple can come out with a product that's more compelling than all the other ones is if they have been able to negotiate deals for a way bigger catalog. >> presumably. what about the original talk that there would be itunes buy buttons so you can buy the track in addition to inevitably the advertising? >> that's very likely and that may be reason if anything that apple is able to get better deals. they already have the biggest database of paid music available, the biggest library

of paid music available, so if they are able to convince the record labels who have historically dragged their feet around digital distribution, if they are able to convince them, people will stream this music and have a super, super button and callback to itunes they will buy more music, then maybe they could swooten the pot a little bit. >> and an additional revenue stream. before we rhett you go, obviously the expectation is two phones next week, one which is an advance of the iphone 5 and the or the iphone 5c, whatever we're calling, it cheaper, more colorful, aimed at china. do you think that they have got to deal with china mobile for 740 million customers potentially that could be unveiled on tuesday? >> i think that that is very possible. it doesn't sound like the kind of thing apple talks about. china is a huge market and i feel like a cheaper iphone offering on pre-paid carriers would be a huge announcement and the kind of thing that wall street investors and consumers

want to hear from them. >> molly, nice to see you. mole wood joining us live from san francisco. >> you too, simon. >> sue, over to you. gold heading into a second week of losses. prices closing right now, and, incidentally, the two-year anniversary of gold's peak hitting an all-thyme time high of 1,921. with syria and fed tapering hanging over investors where does it go from here? sharon epperson is with us and has been speaking with traders down there at the nymex about that. sharon? >> reporter: sue, that's absolutely right. you know, it was september 6, 2011 when we hit that all-time nominal high and now the gold is down about 26% from that level. i'm here with a veteran trader other in the gold options pit to talk about what the outlook is now. tom, what do you see? >> well, i think last month we had a little bit of short covering on the syrian conflict and we got up to some levels that were resistance above 1,400, 1,434 and a lot of the

physical buying kind of waned so the market came back off again and now we're pushed around by news events. yesterday we had some positive data so gold came off on that and today we had the opposite and gold rallied on that so basically news driven at this point. >> you said you're bearish gold right now and looking at gold down more than 500 from that all-time high two years ago, is that because of the technical levels we're at right now in the gold level? >> i think we had a good retracement and need to get above that level of 1,35 and need to make a shot at the 1,480 level. there's still a technical advantage to the downside, and a lot of what you're seeing is a bounce in maybe short covering. >> you won't be short over the weekend? >> not with this conflict. a lot of people who press the sell button are backing off and waiting to see what happens. >> there you have it, sue, from the floor here where we're looking at gold prices, simon. >> been a long journey.

thank you. let's focus on the equities here on the nyse floor. actually gaining, up 43 points in the last couple of hours. >> a lot of volatility in the morning, a 200-point swing this the dow industrials in large part because of concerns of the jobs report which led to expectations we wouldn't see a fed taper any time soon. there were comments from putin which caused the markets to drop and now we're back, up about 40 points. been here pretty much for the last hours of trading. rate sensitive sectors getting better in large part. coming off the 3% level from last night and reits and consumer staples the leaders there. home builders getting a boost today. they have been on kind of a downward trend. today they are moving a little bit higher in today's session. also want to point out the banking sector is weak today, underperforming the rest of the banks, so are the regional banks. i think it's concern about a

weeks jobs report combined for the low rate environment hurting the stocks today. >> mary, thank you. let's check on what's happening on the nasdaq and stocks there. seema mody has more on that. >> in terms of the biggest movers, internet stocks higher while biotech is weighing on the index, though the nasdaq is still well above 3,600. in fact, it's gained about 7% over the last three months helped by social media stocks. groupon up 60%. facebook up 92%. the biggest losers are in the high dividend tech space, like microsoft and intel. analysts say as interest rates rise dividend-paying stocks have been losing their appeal. simon, back to you. >> seema, thank you very much. time for a bit of rick santelli. we take you live to chicago and the cme for the bond report. richter. >> thanks, simon, if you look at the chart you can clearly see the very disappointing data we had on the employment scene at 8:30 eastern. took a lot of the zing out of the treasuries as we dropped down. haven't had a close with a 3%, even though we touched t.close are important for technicians.

open the chart up to one week, clearly you can see we're up 12 basis points, an even dozen and close it had to 278. maybe a more enlightening chart and open it up a bit. 289 was the last significant high-yield close and if you want to blame this weak employment report on somebody, the industry to blame it on seems to be the porn industry. am i joking? no. a 12-day shutdown in that industry is now one of the contributing factors of the weak report. you can't make this stuff up. simon, back to you. >> hey, it's a big economy. thanks, rick. how much home does-1 million buy you now? real estate broker to the stars holly lentz tells us what she considers to be a better boy in the market now. million dollar homes, the book-to-school edition next. mine was earned in djibouti, africa. 2004.

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. all day here on cnbc we're showing you how much house you can get for a million bucks, and in the theme of back to school we've focused on the homes in ivy league neighborhoods.

we sent eight cnbc reporters to eight northeast markets to check out million dollar homes so here's how it works. we show you two homes side by side and the reporters do not reveal their locations. we'll reveal that after we get a look. in the last rouyn the stately estate near yale beat the patio palace near dart now. round five, that kral home goes up against another ivy league home called the pre-war condo. touring the homes are robert frank and kayla tausche. >> this two-story colonial sits on six acres of land, plus an additional 23 acres behind the house. the backyard has an olympic-sized swimming pool and a screened-in patio to enjoy the warm outdoor evenings. >> this recently renovated pre-war building sits on a bustling avenue in one of the city's most historic neighborhoods. nestled in between two parks this third floor apartment has a rare view of greenery >> the 12 rooms total over 3,600 square feet. it's got a formal dining room, an office, a living room with a

fireplace and just down the hall from this kitchen is the attached two-car garage. >> most of the 843 square feet in this two-bedroom, two-bath unit kamm come from its airy living room and brand new kitchen with custom hardwood cabinets, modern aiases and granite countertops. >> upstairs five bedrooms and baths. the master suite with a walk-in closet and al cove for relaxing and two of the other bedrooms have their own sunporch, perfect for reading the morning players. >> hardwood floors cover the entirety and even the bedrooms. small luxury in the bathroom, too, jacuzzi tubs. >> the sunroom has panoramic views of the property. all yours for $975,000. >> this lower level apartment

has one piece deresistance, head up to the roof and see the million dollar view. >> joining us to talk more about these properties. i'm supposed to take a guess. it's a condo and it's a million bucks so that tells me it's probably in one of the larger cities. boston? how did i do? >> close, close. >> okay. >> it's in new york. >> it's in new york. >> columbia. >> columbia, but it could have been boston. >> i was thinking, you know. darn. >> that's close, and it's a terrific home. it's 843 square feet so on the small side versus all these huge homes we've been looking at. >> the stately's tate but the scarcity factor of a pre-war

cannedo fully renovated with a park view in the center of new york city and perfect location. >> skyline view. >> exactly. >> and a super trendy neighborhood. up by columbia a lot of restaurant and bars and night lives. >> killing me that i didn't get this one, just killing me. >> i think it makes it more fun. >> it absolutely does. >> they did a fantastic job on the renovation, but, on the other hand, the stately estate, you had what, 23 acres worth of land. >> exactly. >> unbelievable. >> and it's fabulous, but i have to tell you, it's hard to beat the scarcity. there owes no direct competition at all to this listing, none on the market right now so i think this is the next to go. >> okay. >> you know what, there's so much demand from a standpoint of columbia students as well as other neighborhood buyers, i think it's an absolute columbia win. >> columbia, the million dollar pre-war condo wins round five. more to come, however, right in. >> oh, yes. >> catch dolly on "street signs"

to see which ivy league home wins the next round an a little bit later today she will declare the top ivy league house during "closing bell" with maria bartiromo. we look forward to that very much. >> thanks for having me. >> darn. convinced it was boston. simon, down to you. >> next on the show we're approaching the five-year anniversary of the financial crisis. we have exclusive data on how average americans are investing now. it might surprise you. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. so you want to drive more safely? of smart. life. stop eating. take deep breaths. avoid bad weather. [ whispers ] get eight hours. ♪ [ shouts over music ] turn it down! and, of course, talk to farmers. hi. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum ♪ nascar is ab.out excitement but tracking all the action

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contributions, of course that lowers your taxable income, and your employer may match your contributions. that's free money and then, of course, investing over time, well, that's a good way to help to ensure your retirement savings will increase, but then again not all 401(k) plans are created equally. in a new report out today bright scope, an independent financial research firm ranked the top industries with the best 401(k) plans, and these are plans with over $100 million in assets. now, topping the list in their survey is the law, and in there law firms sullivan & cromwell is at the top of the list. the second best industry with the best 401(k), industry, oil and mining gas. technology number four with google and ibm topping that sector and finally utilities round out the top five. whether or not you have the best ranked 401(k) plan really may not matter if you're not saving

enough. that's what ceo from bright scope mike alfred has to say on the matter. he says make sure that you're saving enough because after all there's really no other magic bullet. back to you. >> okay. thank you very much. sharon epperson with some timely advice there. this month marks the fifth anniversary of the financial crisis. we have exclusive data on how average americans are investing now five years later in 30 seconds. five years after the financial crisis do americans

feel more knowledgeable about their finances? they do. but the generation with the biggest change in their perspective may surprise you. 81% of generation y feel more knowledgeable now compared with 66% of older generations. here with an exclusive look at this change in behavior is john sweeney, executive vice president of retirement and investment strategies at fidelity which has 1.8 trillion under management. good to see you, john. >> thanks for having me. >> this is when i worked through the survey. it's very encouraging and highly unexpected from my perfective. >> we're very pleased to see the young investor really engaging with their investments, they are knowledgeable and feel confident and taking actions that are different from older generations. >> 55% of generation y feels more confident now compared with an older generation of only 47%. do you know why they feel more confident? >> well, one of the biggest levers that a young investor has is time on their side so they are learning that the more i

invest early in my career, the more likely i am to be successful in retirement. that's the biggest lever that uniquely belongs to a young investor today. >> also, if a financial crisis does occur they have more time to recover from it. >> correct. >> versus someone this our age group, right? >> right. >> also i found interesting savings because americans notoriously save the least of all of our global counterparts. generation y is saving more now than the older generation by a pretty decent margin, 60% versus 54%. >> one of the numbers that we try to throw out for young investors is save as much as 15% of your salary into some kind of retirement account. may seem like a really high number but it sets a disciplined spending pattern so when you get to retirement you've automatically lived a lifestyle that assumes some kind of savings. >> are they actively managing or doing like target date funds? >> we saw the target date

investor, really the young investor when has defaulted into a target date fund through a 401(k) has benefitted from that kind of disciplined investing so what we saw is through the market downturn they continue to contribute and invested in equities and when equities rebounded they benefited. >> they didn't have to make those decisions so it took the emotion out of it. >> absolutely. >> i want to skip out of stock market because that dovetails with what we talked about. in terms of the investments faring better now generation y may to the point that you gave us. 76% are faring better right now than to the boomers. only 56%. is that -- is that a measure of how much money they are putting in or the time again? >> i think absolutely. when you look at the gen y, you're talking about people in the mid-30s, the amount that they lost on a percentage basis might have been large. the fact that they stayed the course actually puts them in a

better stead than somebody who may have pulled back on their exposure as they were approaching retirement. >> as to the economy, generation y, 50% think the economy is better now compared to only 30% of generation x, wow. john, very interesting. thank you so much for joining us today. >> thank you. >> appreciate it. >> simon, down to you. >> we're putting on some weight here on the dow, up 68% at highs for the session. we've regained dow 15,000. a big question this lunchtime is ford ceo allen mull lally leaving sooner than expected. we're back in two. ♪ ♪ ♪ [ male announcer ] the all-new 2014 lexus is.

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in today's yahoo! finance

question of the day, with mortgage rates rising are you more inclined now to get a loan? 10% say, yes, i'm looking to buy. 69% say no, i'm not. 21% say it just won't affect when i buy. let's see what's coming up on "street signs." >> hey there, simon. he sold garbage bags door to door when he was 12 years old and now he's a billionaire with his fingers in a lot of pies. we're talking about dallas mavericks owner mark cuban, and he's here on "street signs" to tell us the latest pie he has his finger in. he's bold and brash and really look forward to talking to him. all that and lots more coming up at the top of the hour. guys, back to you. >> we will be glued, mandy. thank you. some big headlines today. s&p raising ford's debt rating back to investment grade it. lost that rating back in 2006. separately ford ceo mulally

saying he's downplaying reports that he could leave the company earlier than expected. rumors circulated yesterday about microsoft's interest in the 63-year-old. global owns 5,400 cellularers to across the country. and a wild and volatile day on wall street. we were up slightly and then down about 130 points. now we europe 62 on the dow. more winners in today's trading next.

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take a rook at this chart. it's really on the right-hand side. now 31.5% to the upside. the earnings are the retailer beat the street forecast. the company sells skateboarding and surfing-inspired clothes. you may remember last month quick silver lost 22% when there was a teen apparel selloff but it's made it back nicely.

>> remember, we were down over 140 points on the dow when putin said that he would fight with syria in any conflict. that's a 200-point move to the upside. e-trade, hcp and hp and expedia all having a great day. >> that's it for "power lunch." we'll see you on monday. are we feeling seasick yet? a topsy turvy day on wall street with stocks moving higher on the jobs report and turning south on new syria concerns and lo and behold we're back up again so what does the market really want to hear? should ford's alan mulally get behind the wheel at microsoft? why it might make more sense than you think. round six in the