that's a big diamond, my friend. not as big as you. >> would make a lady very happy. thanks for watching "street signs". >> "closing bell" coming up next. we'll see you tomorrow from the apple event tomorrow in california. should be a big one. "closing bell" up right now. welcome to the "closing bell." i'm scott wapner in for bill griffeth. >> maria bartiromo is back tomorrow. we're in rally mode at the exchange. dow trying to close 15,000 since august 23rd. market getting a big boost when we heard maybe syria could strike a deal with russia to cease control of their chemical weapons. market got a big boost. >> market wants some certainty. you know we made back 65% of august losses. >> excellent. >> already in september. >> wow. >> here we are up $1.50 or something like that. market getting a little help from developments in syria as the president prepares to

address the nation tomorrow night. there's a push to have syria hand over chemical weapons as michelle was alluding to. we'll have a live report with the latest on this fast-changing story. >> and sitting senator takes on the supreme court. elizabeth warren saying the justices are far too friendly to corporations and went as far to say the high court is becoming, quote, a wholly owned sunday bsy of big business. she didn't stop there. you want to hear her controversial statements later in the show. >> the dow jones industrial average is up nearly 150 point, retaking 15,000. nasdaq is having a strong day. technology along with materials. s&p 500 is up about 1%. >> joining us now on our "closing bell exchange," stan stowst s is towall, richard

bernstein from richard bernstein advisers and our own rick santelli. sam, do i read correctly the market liked this possibility maybe there was a solution with syr syria ceding control of their chemical weapons? >> absolutely. they hear everyone from people to the pope hear why we shouldn't have gone into syria. i think the president painted himself into a corner, so an opportunity to save face and at the same sometime try get rid of chemical weapons gives -- >> this gives him an out basically, possibly? >> i think it does give him an out at the same time it says he can say to the world that we focused attention on it and took it away from them. >> rich bernstein, the market was having a pretty good day before this news pushed it yet another level higher. what is today about? is it about better economic numbers around the globe? what is it? >> i think it's a combination of things, scott. i mean, certainly you mentioned syria. that's part of it. it is better economic data

around the world. i mean, it's pretty clear that the global economy is starting to recover. we could argue about how much. and how vigorous that recovery is going to be. think of what expectations were a little while ago the global economy was going to sink into nothingness. i think it's that and i think it's a combination also that, you know, u.s. fundamentals continued to improve. they're not strong on an absolute basis but they continued to improve. >> you've been bullish for a long time here, rich. we had a little stall for a while. you think we're -- where do we go from here? how much further can it go? >> michelle, i still think we're in one of the biggest bull markets of our careers. that's been our story for the past several years. that's still our story. you know, look, we're in a very typical midcycle environment right now where you have the question of kind of this tug of war, if you will, between the negative side you have rising interest rates. on the positive side, you have improving fundamentals. and the midcycle of every cycle, not to use the word again, but the midcycle is always about that tug of war and who's going

to win. and in august, i think people thought that the fed was going to win. now people are not so sure that the fed's going to win that tug of war. >> rick santelli, if rich bernstein says we're in one of the biggest bull markets of our career, are we entering a bear market and one of the big oes of our careers in bonds? >> now, be nice, scott. >> come o you knew i was going to have to go there, rick. >> i'll tell you what, i wish i could believe rich as well, but more importantly, i wish ben bernanke would listen to rich. at the end of the day, i'm not so sure i disagree. there are good things going on domestically and globally. how can i truly be sure? i can't be sure because in the back of my mind i see fmoc committees or obanomics contesting these programs. if it wasn't contested, abe wouldn't need the stimulus he's throwing in. i think the jobs number was

disappointing but i thought the gdp in japan was positive. i don't know about the sustainability. >> mark tepner, what in. >> we're bullish. we think the market is in a short-term funk. we expect volatility over the next few weeks, next month. there's uncertainty whether or not the fed will begin tapering. we think that will happen in the near future. there's all these issues with what's going to happen in syria. investors are requiring a serious risk premium in order to put their cash to work. for our investors, our client, we're not as concerned what's going to happen over the next three weeks as over the next three years. when we look over a three-year basis, we feel stocks look attractively valued and we think earnings growth is going to accelerate significantly when you look at cyclicals opposed to defensive. >> what area do you think people

should be looking at right now? the laggards inrally, the materials, which are looking better? >> the materials are looking better because the emerging markets are improving. our strategist wrote a story how there are two parts of the emerging market environment. those that are trade deficits and those without. it's those without the trade deficit are those likely to do better in a rising interest rate, strengthen dollar environment. >> what do you do with the ones that do have a trade deficit? you run for the hills like everyone has been doing? >> there are better opportunities. i think we're focusing more on the cyclicals rather than defensives. >> like mark said. >> because defensives have high yields. i don't think that premium has been worked off just yet. >> rich, to sam's point, what do you think of the emerging markets, just given the beatdown they've taken amidst all the taper talk? >> well, you know that that's

like asking rick a question about treasuries is asking me a question about emerging markets. i still think the emerging markets have deep-seeded problems investors have not come to complete grips with yet. emerging markets are the ultimate, ultimate play on the credit bubble. i think most people would agree the credit bubble is deflating yet they want to invest in emerging markets. i think that's inconsistent. if you're worried about inflation f you're worried about out of control money growth, you have to look no farther than emerging markets. whereas here in the united states, money growth is smack on the long-term average. it's ridiculous how boring it is here, but overseas you have big problems. >> mark, you talked about cyclicals a little bit. what else? >> within the cyclical space we like technology, financials as well. one of our core investment themes is the fact the capital stock in the united states is aging. there's been very, very little capital investment over the course of the last ten years or so.

we would expect that trend to really reverse itself over the course of the next five to ten years. >> so, you have to buy it and then borrow money to fund it? >> exactly. so, that's why we would invest directly into the technology sector. and then as credit demand increases in order to pay for the investment in technology, we think the financials are a great way to play it. >> all right. guys, thanks to everybody. mark, rich, sam and rick. lots of big movers. what's getting your attention? >> we're up about -- we'll call it up a percent but above 15,000 is the best day for the dow in around two months. now, among the big names moving, isi sichlt pharmaceuticals. they'll pay $100 million up front with the possibility of other fees and royalties down the line. isis is surging. molex up big.

agreed to be acquired by privately held coke industries for $7.2 billion in cash or $38.50 a share. they'll be a stand-alone unit of coke and current management will continue to run the business. fusion io surging. analysts say maker of computer storage equipment could be a possible takeover target after competing system was bought by western digital for $685 million. we'll finish off with another tech name, this time pc maker dell. not a lot of action. carl icahn is throwing in the towel in his campaign to win control of the company. the move means one of the biggest obstacles to dell's campaign to take control of this company has been removed. dell says, it would be almost impossible to win, unquote. dell/shares pretty much unchanged. >> he said that on scott's show earlier today. >> he did. >> cool.

can't win, move on. >> exactly. >> at some point it becomes even clear to carl icahn. the dow jones industrial higher by 149 points. nasdaq up a whopping almost 45. >> could the president's handling of the situation in syria force him to change who he wants to pick to be the next fed chief? stay with us. it will make sense once you hear the entire story. and then nissan is the latest company jumping into the smart watch race. a car company doing smart watch. this is supposed to link you to you and your car. we'll have details on that next. then more retirees booted out of their company's health carrol carrolls. is this setting up the same thing to happen to current employees? more on the unintended consequences of the new health care law that may impact everyone, including you. that's later on "the bell."

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welcome back. lots of developments on the situation in syria and the stock market seems to like what's happening today. let's go to john harwood in d.c. for the latest. >> scott, as the white house floods the zone trying to move

congress to authorize force against syria, we have a development that could potentially turn this situation around. that is, the proposal that was triggered seemingly by an offhand comment by secretary of state kerry, picked up by russia, embraced by syria. the idea that syria would turn over stockpiles of chemical weapons to foreign control. hillary clinton said that could be significant. >> if the regime immediately surrendered its stockpiles to international control, as was suggested by secretary kerry and the russians, that would be an important step. but this cannot be another skut for delay or obstruction. >> reporter: it's too early to know how seriously to take this proposal, but i did talk to

former bush natural security aide richard haas said it's worth testing if syria is willing to give up chemical weapons to agree -- to subscribe to chemical weapons convention, tough inspections very quickly. i talked to a former obama foreign policy official said it's not on its own but if russia will also agree to accelerate the idea of a geneva peace conference leading to political settlement in syria, that could be an alternative to military force. >> this idea of ceding control of chemical weapons, that's an incredibly complicated thing to do. you don't just dump them in the ocean. they require industrial capacity. took us three years to control chemical weapons and get rid of them in iraq. >> reporter: that was the point of this obama adviser, who said the reason you need another piece is actually executing what they're suggesting now would take years to accomplish. >> exactly. >> reporter: so you need to show some other signs of good faith. >> that doesn't mean, though,

bob pisani, this couldn't be a face-saving option for the president, which seems to be what the market likes about it. >> i think that's why the market is moving up in the middle of the day. let's take a look at three reasons moving the stock market right now. syria is the number one reason here in the middle of the day. earlier, though, we got positive asian data in japan and china. lower bond yields since that disappointing jobs data has helped. groups like home builders have been strong. take a look at the s&p 500. we moved up early in the morning on the strength of the positive asian data. you see that slow upward curve all day long. as john was talking about giving up control of chemical weapons to international monitors, the it's ticked up. moderate to heavy volume today. let's talk about the syria issue. there's a battle in the minds of traders over how much the syria issue means on fight for next

fed president. how much is his willingness to fight over syria going to affect his domestic policy agenda, things like obama care and next fed chair? the worse syria gets, the less likely the president will be able to engage in domestic issues like the next fed chairman, and less likely he'll be able to ensue a fight over larry summers. the better syria gets, better janet yellen's chances are. >> thanks so much. let's bring in steve liesman and jim from american enterprise institute. steve, go to you first. what do you think of this whole discussion as to whether the president's hand here at home would be weakened when it comes to setting policy and specifically related to choosing the next fed chairman, and also what do you think the time frame is as we sit today? >> i think it's something we'll hear about in the next month

from the white house. i would expect. so, obviously if bob pisani says you have to give it a second thought, and i've been thinking about this, the only thing wrong with what bob is bringing out is how seriously does the president or the administration view the opposition to larry summers in congress? to the extent this opposition is on his left, i'm not precisely sure that he sees that opposition as all that great or all that difficult to overcome. it's my understanding -- i don't think the republicans are going to go after larry on the fed chairmanship. i think what the republicans would like to do is step back and see democrats kind of go at each other right there. but if that's not going to happen. by the way, i'm not precisely sure janet may be the real number two right now. there's some talk about some other folks who -- maybe don kohn is the likely number two. it's a bit perhaps like -- how would i describe it -- the kentucky derby back in 1973 when it was secretariat by 31 1/2

lengths and everybody else behind him. if there is a number two, i think it might be don kohn these days. >> jim, what bob is talking about is horse trading. the president needs syria. he has the left against it. so he throws larry summers over the side. he says, i won't nominate larry summers if you vote for syria. is that possible? >> listen, i think that is a possible quid pro quo. the president does not want to face two bad losses. he does not want to lose on syria, historic losses, and then lose on a fed chairman. then democrats who don't want to take two terribly tough votes. they don't want to vote for the war and a lot don't want to vote for larry summers. that's a possible quid pro quo. steve, conservatives, w republicans think. if this administration thinks larry summers is going to get a pass by republicans because he may be viewed as a little more hawkish than janet yellen, i think this administration will be gravely disappointed he'll

get from republicans -- >> what's the issue? >> what are you talking about? any nominee from this president will get a tough time. the question you have to ask is will one nominee get a tougher time than the other? >> that's right. and janet yellen -- they'll be easier on summers than yellen -- >> i disagree with you, my good friend and colleague, which i think yellen would have a much tougher time from republicans than summers. >> because she's more dovish. >> and much more connected to current policy. >> yeah, i realize that. that is the common wisdom that they would view summers and yellen that way. listen, they're going to view this as a way to, one, blame the clinton administration. you may disagree with this. republicans believe it. blaming the clinton administration for the financial crisis, housing collapse. they're going to -- >> because he supported deregulation? because he supported not having as much regulation? i mean, that would be. >> no, no, because the clinton

administration had pro housing strategy. >> so has nothing to do with the fact he didn't want to regulate derivatives, et cetera, et cetera? >> that's the elizabeth warren argument. republicans will come in from the other direction. >> i think so we're overthinking this. given what's going on with the syrian issue right now, looks like the house will potentially reject an outright support of the president. why would he want to engage in that? why would he want a david cameron moment to happen to him? >> bob, i think you're mixing apples and oranges a little bit. because the house is not a place that has a lot of democratic support or where a lot of democratic opposition to surm . summers. that would be in the senate. that's where it would matter for obama. the question is -- >> elizabeth warren and others who probably do not want larry summers. >> would elizabeth warren and some of the other democratic senators. i'm not sure. from what i'm hearing, bob, at this point, they don't see it as, how should i say, unovercomable opposition.

>> thank you, guys. >> a bruised president is certainly not anything the president wants to see going into obama care fights, going into extending the debt ceiling and -- >> immigration. we could go on and on. thanks. bye. >> about 40 minutes to go before the bell rings. 144 to the plus side. 15, 066 is where the dow sits. >> would you buy a car because of a smart watch that comes with it? nissan bets you might. later, the speculation on what apple's big announcement might be is growing like crazy and the stock is back over 500 bucks. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer.

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this is essentially measures the car's performance as well as your own performance. here's a sneak peek of how nissan envisions people using this in the future. ♪

♪ >> again, there you see the race cars. again, this is designed for those who are either race car drivers or into performance car driving to the extreme, that they would like to measure their performance and the car's performance. are there real world applications for you and me as we're driving around? maybe on the fringe. here's what tech editors at national said about application and fatigue driver. >> if you put this in a mass market device, you would have an alert from your watch, whether it's audible or vibration, if you ever get so fatigued you might fall asleep, which could actually save lives. >> as you take a look at shares of nissan, keep in mind there's been no release date set for the nismo watch nor is there a price set there. guys, it's pretty cool, to think you could monitor your

performance as well as the car's performance. again, it's geared towards the race car driver and those who are really into the performance car market. that's really what this is aimed for in the future. scott? >> we're all race car drivers at heart, right? >> yeah, the boys are. >> i'm want sure you'd use this as drivering up to starbucks to place an order. >> fair enough. phil lebeau. while investors focus on ford and general motor stocks, another name is trading at an all-ohio, autotrader. with shares of the company up 30% so far this year, is this the boast way to play the auto recovery. abigail and on the fundamental side is john stevenson with first asset management investment. john, you first. a lot of talk how strong auto sales are. how strong is autonation? >> i think you should sell it, up 30%.

it's ridden the boone from 8 million cars to 16.2 million cars sold in the u.s. what's happening now the multiples 18.6 times, forward multiples about 17.3. it's an expensive stock. and margins really come under pressure. inventories on the lot are sitting at 67 days. it's up very substantially. margins in the new car business are down to 6% gross margins, the lowest ever. i think the margin story is working against it, inventory is working against it. this is an expensive story that i really see no room for growth. i don't see it going to 24 million cars sold. >> abigail, what about the chart story, is that working against it or for it? >> these charts are working for autonation. they have one of the best looking charts i've seen in a long time and for the right reasons. buyers are completely in control and their conviction is very high. when we take a look at the three-year weekly, we see this expressed through a beautiful uptrend. this stock barely budged during

the correction of 2011. now just today investors have used the congestion of a trading range to break above it and cause, in my view, what will be a measured move towards 60 over the next three to six months. i'm absolutely a buyer of autonation at current levels. >> but, you know, new car sales are 56% of the business. you're only driving 6% margin -- >> i think, john, have you to look at the fact that the average car age right now is 11.4 years. a record high. this company doesn't just cater to new cars. they also cater to parts, accessories. i think this is one company that is going to really benefit from the continued upturn in the industry. the chart suggests it has at least another 6 to 12 months to go. i would be a buyer of auto nation here. >> parts are only -- >> nonetheless, you've got earnings at an all-time high. interest rates are going higher.

who are the ultimate buyers of these products? you and i. it costs more to finance -- >> last word. abigail quickly. >> cars are at an 11.4 year age. between needing to replace them because they break down or because of want, autonation is going to benefit from both new cars and parts and accessories. >> thanks so much. we'll talk to you soon. >> so it's about a half hour to the closing bell. dow jones off high, 141.45. s&p 500 is higher than 15. having a great day. >> certainly are. it may not just be retired workers. health care changes could be coming everyone's way as companies adjust their plans around affordable care act. >> after the dell -- after the bell, diana olick takes a look at the housing industry and five years after the financial crisis. what should the government's role be now? we'll find out later on the "closing bell." if you're serious about taking your trading to a higher level, tdd#: 1-800-345-2550

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30 minutes to go on the trading day. dow off the best levels but we've been up about 150 or so the last hour at least. technology is having an especially strong day. that will be talked tomorrow with apple's big event tomorrow. >> i know. i can't wait. >> neither can everybody else. s&p 500 up 5% as well. >> i like a big, over the top reveal. time warner and ibm latest conditions to make major health care changes for their retirees. bertha has details. >> they are offering own supplemental to retires to a contribution model. ibm calculated its retiree health care plan costs will triple by 2020. a spokesman says it's not about the company saving money. it will already spend. it already capped benefits for its 110,000 medicare eligible retirees. big blue says giving them money

to buy plans on a private medicare exchange plans offers them a better choice and better value when it comes to out of pocket costs. ibm will transition workers to extend health care exchange. benefits analysts say by offering competing plans for multiple insurers the exchange can be a win-win or retirees and employees. >> for employees you get much more choice of health plan. something most employees are not used to. for employers, they're looking to fix their costs. whether or not they can is still an unanswered question. >> well, a lot of them are moving to extend health. it was acquired by benefits firm towers watson last year. the company hits today, hitting a new all-time high on strong volume, up 61% year to date.

this is one continuing to grow and analysts see it accelerating now. >> absolutely. they have to figure what to do with the retiree costs. right now it's retirees. however, is this a sign of things to come for current workers? >> with us now is bryce williams from towers watson exchange solution and rick newman from yahoo! finance. welcome to you both. good to have you both with us today. i'm just wondering, this is not directly related in any way to the affordable care act, from what i understand, right? these exchanges have been in existence for several years, and many companies, bryce, have been using them for several years, correct? >> no, that's correct. we actually built the medicare exchange eight years ago for the chrysler corporation. we essentially helped organize a lot of bush-era changes that happened with the medicare modernization act of 2003. it has nothing to do with obama care. >> what about the underlying trend, though, where we see

corporations like ibm, et cetera, saying, you know what, managing this ourselves is very difficult so we are going to now move these retirees onto this exchange. we started to see even nonretirees being pushed out into what will eventually be the exchanges when it comes to health care reform. do you think that will continue, bryce? >> well, at our exchange we provide more choice and options and actually custom the plan to each individual retiree. so, in addition to being more cost effective, the thing we're most proud of it is also provides retirees for the exact rate coverage for them based on their health needs. the other dynamic happening here is how do we more customize plans to each individual? today we're doing that in medicare. >> do you think this is happening, though, because regular employees, current employees, their health care costs will be higher because of hoelt care reform and as a result they have to push retirees off the rolls? >> completely disconnected ideas. so, we've now worked with 300 major corporations, including

10% of the fortune 500, many of whom moved to this, including all three big auto manufacturers well before the obama care was passed in 2010. it's just a more efficient way to purchase benefits today. it remains to be seen if that's the case with active employees, which is what i think you're asking about here. >> rick, have you to believe in some respects that every fortune 500 company and beyond is looking at ways to get a more predictable idea of what their health care costs are going to be. in part, it has to be somewhat related to the president's health care act, even if indirectly. >> well, there's one commonality here, which is that medical costs have been going up by a lot more than inflation for a long time. i mean, that was a problem way before we ever heard of obama care. for 20 or 25 years there's been a lot of tension about health care costs at companies because costs keep going up. companies doenltd wan't want toe

cost. they're trying to figure out how much they can pass onto employees. anybody who gets health care through their company knows premiums have been going up for a long time. so, that is absolutely a commonality. and i have no doubt that companies, for the foreseeable future, will be trying to figure out how can we shave this bill? it could be possible in a couple years they look at the obama care exchanges and say, you know, these seem to be working well enough. let's experiment with seeing if we can put some workers into the exchange, pay the penalty and go with it. >> bryce, what do you make of the fact it's been so difficult to get a lot of these exchanges up and running? we hear reports a lot won't be ready. did the administration reach out to private industry at all in assistance in setting these things up? >> it actually did. we had common not only with federal exchange but with many big state exchanges about how best to do this given our experience of having moved half a million retires to medicare. we believe it will be bumpy in the first year. not unlike when medicare

advantage and bed care part b came on the scene, that first year was very bumpy. we don't believe they'll get defunded. we believe they'll be live and in a year or two they'll work. >> bryce, what about the idea that some companies may be willing to pay the fine. at the edged of the day, the fine will be less whatever the increase in health care cost is going to be and they say, cfo goes into the office to the ceo and says, i think we should just pay the fine. >> we work primarily with the fortune 500. i can tell you right now the fortune 500 is not interested in dumping and paying a fine. they want a better way to connect to health care value for active employees. our active exchange is going live this fall also. we announced on our earnings call two weeks ago -- >> rick, what do you think of that? >> i'll go with that on the fortune 500 but i think a lot of smaller companies might say, this is a better deal for us. we don't have much of a margin, so that seems like a big deal. the real crunch point -- >> how about saying we'll take a

fine instead? thanks, guys. >> thank you. >> nasdaq stocks are flying high today. outpacing the dow and the s&p 500. seema, what's fuelling that move today? >> nasdaq to a 13-year high. a couple big winners, apple ahead of its product event tomorrow. expedia after getting upgraded. blackberry on reports that chairman of fairfax financial is getting support from canadian pension funds and taking the company private. now, elsewhere, social media continues to be a pocket of strength for the nasdaq. we're seeing heavy volume in facebook, pan dodora and groupo. market technicians telling me the moves we've seen in the nasdaq 100 it's not overbought at these levels and technically speaking, it could continue to move higher. scott, back to you. >> thanks.

i want to see tomorrow when apple has this big announcement whether it's a sell on the news event, which so often happens on product day. the stock has had this great run since carl icahn announce his position via twitter. that's -- >> his dinner date. >> that's going to be very telling to what the nasdaq 100 does, if it can continue this streak it's been on and run it's been on. >> market off the highs. >> with 20 minutes to go, still it is. a 131-point gain for the dow. >> after the break we'll go live to the tech crunch disrupt conference in san francisco where silicon valley ceos of heavyweights like linkedin and twitter are there. >> we'll cut through the noise about what apple might announce as best for the stock. will tomorrow's event help or hurt the share price? that and much more coming up on the "closing bell." mr. goldman loved his family a lot, didn't he dad?

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we're hearing from krooez of linkedin and twitter, right? >> yes, they just took the stage in front of a packed audience of 3,000 attendees here. linkedin represents the ipo's success story. the stock is up over 450% since may 2011 ipo. linkedin ceo shared his vision of the way linkedin will change the way professionals all the way around the world work. >> our longer term vision, if you look out, say, ten years is much bigger than that. what we would like to do is develop the world's first economic graph. we're talking about mapping the global economy. more specifically, we want to digitally represent every economic opportunity in the world. full time and part time. >> now, twitter on the other hand is the hottest pre-ipo company. expected to tile the s-1 by the end of this year. the ceo is very much in demand here. did not give a speech on

twitter's ipo prospect but on how startedup ipos should lead their company, telling some of his success at twitter. >> don't lead by trying to be liked. lead by being forthright. the way you build trust with your team and people is being forthright and clear with them from day one. >> there's been a lot of talk hear about what we'll hear from facebook's ceo mark zuckerberg. he's speaking on wednesday. he made a speech here a year ago that moved facebook's stock dramatically. maybe he'll talk about facebook ground search. >> ten minutes or there to go before the bell ring. we reached 15,000 today as the dow is trying to hold onto this big move it's had. high about 150 or so. right now just a little off that. >> after the break, how will we close? what's behind this monday rally?

later, daisy fuentes is there. yes, that daisy fuentes. she's tapped into the highly coveted latino market and kohll's is benefiting. she has the top rated show on all of spanish language television. >> all the latins in the studio are so excited. the tech crew, everybody. she's here at the exchange. we can't wait. >> that's why some of the guys here are very excited. >> we'll be right back. [ bagpipes and drums playing over ] [ music transitions to rock ]

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as we head into the close, let's find out what's moving these markets with bob pisani. news about syria moved the market a bit but the market had already moved a bit. >> three important factors moving the market. vir yeah is the most important of them. news we may get some kind of debate going on with what goes on with the chemical weapons in syria moving the markets in the middle of the day. earlier on we had positive asian data, japan gdp, as well as chinese export data was high. and certain lower bond yield. we're just off the highs of the day on the s&p 500 but up about 2.5% since the bottom after the

the end of august for the s&p 500. moving up throughout the day. i think largely scott's right on the syrian issues. materials, technology, industrials have been leading all day. there's your asian data helping things out. i want to note that we've had lower interest rates since the disappointing data we had on friday on home -- on the real estate. home builders have been up as well as interest-rate sensitive stock. >> we want to talk about the geopolitical concerns you raised at the top. our next guest says geopolitical concerns have typically been buying opportunities. so with all the uncertainty around syria, is now the time to get into the market? let's bring in doug sandler. you mean over the last month or the last 50 years? >> over the last 20 years. they've been -- the batting average, we don't get it right all the time but batting average betting on geopolitical concerns

has been a good one. ape a lot of vin investors we t to have been waiting to get into the market because they're underweighted. i think the risk of the tapering, where people have overpriced that in the market, will give you that opportunity. underneath the surface the economy is significantly starting to show signs of life here in the u.s., in europe and even in china. that's different. i always wonder why do people really go away on summer vacation and they say, sell in may and go away. the reality is on days like these, people are coming back to the market, economy is better and they realize they have an opportunity to get in. >> are you building the case for a september surprise and that being a good surprise in a month that's historically been awful for the market and scary and volatile? >> the studies we've seen, it's been awful but it's awful when you're in a bear market. when you're in bull markets, september hasn't been that bad of a month. i think you have reasonable valuations. i think the tapering's probably overpriced in here at this point. i think you have a chance for

some upside surprises. maybe today is when you're getting it. >> the taper is a light taper in your opinion? only $10 billion? that seems to be the consensus. >> right. that's our view. our view is the fed will stay stimulative. our fed may be in the seventh, eighth or ninth inning but still stimulating and that's important to remember. >> thanks for joining us. we appreciate it, doug sandler from river front investment group. >> up next, back with the closing countdown. >> after the bell, massachusetts senator elizabeth warren is slamming the supreme court. listen to this. -- >> sooner or later, you'll end up with the supreme court that functions as a wholly owned subsidiary of big business. >> and she said a lot mother than that. wait till you hear it. my mother made the best toffee in the world.

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syria turn over its chemical weapons. that gave a little more traction to the market move today. that's why we currently sit where we do. tomorrow, is the big event by apple. going to unveil a couple of phones, more than likely. that's what the stock is doing today. back above 500 bucks, a gain of 1.5%. let's take a look at caterpillar as well, one of the reasons we've had a solid market move today is because export data out of china was better than expected. you have stocks with exposure to china getting a boost like caterpillar. up 2 2/3%. does that make sense of what the like was today, good news from overseas before syria? >> syria was a little distraction. biggest news was out of china and japan, showing the world that the global economy is in a much improved situation and a great lesson to short sell. you never short a dull market. last of august was so dull. now you're getting the pay back.

>> i was asking a gentleman a few minutes ago if you think we'll get a september surprise, an upside surprise. everybody was expecting the market to continue this pull back. we're already 65% -- we've gotten 65% of losses in august back now. >> that's a little scary. that's a little overdone to me. i'm one of those people looking for a correction, probably back in may. i'm willing to say i've been wrong but i think the fact of the matter is, this kind of trajectory to the upside is scary from a trader -- i may not be wrong but the fact we stayed at these levels for so long without a correction is what, again, the move away from 200-day moving average, that kind of stuff, still suggests there's room to the downside. >> what if a military strike in syria does not happen, what do you think that means to the market? >> very little. i think the market itself is focused on what's going to happen with the tapering and the size of the taper at its first -- -- whether it comes to the 18th or prior to that. i think that's the single

biggest driver. >> do you care how quickly you know who the next fed chief is and who it's going to number. >> not really. betting race is all it comes down to for fun. >> talk to you soon. second hour of the "closing bell" begins in a moment. we'll come into "closing bell." scott will join me in a moment. the dow jones industrial average higher than 138 point. back about 15,000, gained nearly 1%. nasdaq with a gin of more than 1%. and s&p 500 with 16.40 with a gain of 1%. we got some news about syria today about whether or not there was some kind of political resolution option on the table regarding syria's ability to hand over chemical weapons,