the market earlier this morning easing a bit. we were down below the 2.4 market on the ten-year yield. now just sitting at the two-point for the market. ty, it will be very interesting. volume is very light, though. >> it does not feel like an up week, but now they're all higher for the week. that will do it for this edition of "power lunch." >> have a great weekend. here comes "street signs." new hour, new headlines from russia that is sending stocks higher. is the news really that new? hi, everybody. headlines out of russia, even as the u.s. bowels militants in iraq. plus we rank the rick to find out what should be most worrisome to you, and what might be the greatest mistake that mcdonald's is making.

>> earlier on today, the dow was down for the third straight week, and then whammo, the dow, s&p and nasdaq are now positive for the week on this one interfax headline. russia's defense ministry says military exercises near ukraine border are over. let's bring in michelle caruso-cabrera, dom any chu, also bob pisani. michelle, is this for real? or do we take it with a grain of russian salt? >> i think what it tells is, one, the markets were very nervous. there had been a big buildup, and without a doubt across wall street had been expectations ratcheted up, that it was possible russia would invade ukraine the reason -- it looked like ukrainance were doing quite well, and it looked like they might beat them back. so that's why the expectations were high. this market was vulnerable to good news. this comes out. i think whatsh read in the

market reaction is people in the market think that russia will not invade ukraine this weekend. remember, putin has backed down before. we saw it happened in may. it looked like we were on the brink of something big. he backed down, markets rallied, but only -- what did he do? he came back again, right? you. >> this was announced, so i guess what we can surmise is there was an expectation in the market, perhaps even a small one that maybe these weren't actually just war games. for anyone, bob, who is trying to work out exactly the impact on these u.s. stock

market, you have pointed out that we had good second quarter earnings, strong second quarter earnings, and yet the market just hasn't been reacting positively to them the way they would have in the past. the important thing is ukraine is impacting our markets. i just want to respond to brian's comment the fact that we knew this. i pointed that out, but a lot of traders e-mailed me as if this was some sort of breaking news. i think a lot of people were not actually aware they had announced that. we came out on the air and said that. >> i think nobody believed it, bob. >> well, this is news. well, you might be right, michelle. my point is it may not be perfect information that everybody was aware of the fact this was an exercise already announced. but number one, it's very clear we are dependent on the headlines from the ukraine. number two, very fluid, we have no idea now this is going to go.

despite this uncertainty, the markets have bottomed out. so any kind of positive news is definitely going to move the markets here. you know, dom chu, here is the thing, this is what we do poorly, because this is our content, this is our life. we assume that everybody is on top of every headline all the time. some people got it and probably those, hey, this south like good news. there are -- >> there's no doubt, even our technologically advanced society, there are still gaps in our information. one more thing i would say as an observer of what's happening in the market right now, these three major geopolitical headlines, israel and hamas, with russia and ukraine, and what's happening with the bombings in iraq. all those things led to an

overnight session where people were risk averse. you could even say some people were short going into this. what you have is a reaction as a quantification of people unwinding some of those hedges, those short positions, the ones that benefit, or at least cut your losses when the markets move to the down side. what you're seeing is a market reachere, where it may be short covering as a part of it. the reason why i say this, as sue herera made an interesting point, there's not extraordinarily high volume on the heels of this right now. the spdr, the s&p 500 etf that tracks the overall index has traded about -- on average the past three months, it trades about 87, 88, so we're not in the realm of hysteria buying right now. >> it was not relevant to the market that russia said it was a one-week exercise. that does not matter. i it kell el tell you that many have their own sources on the

ground, military, et cetera. they were firmly believing that the chances of an invasion were higher. this suggests that, at least for now things have calmed down a bit. >> really quickly, you can decide by the dollar value or numerical value that the russian/ukraine situation has more of an impact than did the iraq/i.s.i.s. bombing situation. >> and the russians, by the way, who would know whether this is a one-week exercise, that market got hammered all week, because the russians were worried that the wugz were going to invade. they were in correction territory, 10% or more. thank you, michelle. stick around. the other big story today, the u.s. military launches a series of tactical air strikes on militants. the pentagon does confirmed two 5 -- michelle, you have seen this

region, can you lay out the breadth and scope of what we trying to do the targeted strikes might be dealing with? >> this was shocking to a lot of people, because irbil was considered safe. kurdistan was considered safe. the peshmerga had done a good job of fighting back. as they're trying to push back the islamic fighters away from the capital city of northeastern iran. the fact the city was thought to be impenetrable to be at risk was thust things that was shocking, which is i think one of the reasons we saw oil move up overnight. what remains to be seen, what happens to these poor iraqi religious minorities that are stuck on this misdemeanor, somewhere between 10,000 and 50,000, depending on who you talk to, iraqi military managed to hand out food and water to them today.

part of the game plan for getting them off this mountain and safe passage to somewhere else. the question is what's going to happen there? certainly this did not move the markets as much as we saw with the russian situation. >> okay. stick around. let's bring in another guest, david phillips. he joins us phone from the turkish border from iraq. great of you to join us. do you feel these air strikes by the united states are going to escalate things or de-escalate things? how much will it have helped? >> i don't think you're going to have much impact. the islamic state will hunker down. they can absorb some 500-pound arms. they have very sophisticated weaponry, all made in the usa that they seized from the iraqi arm when they overran mosul on june 10th. it's clear they have their sights set now on irbil, and i'm trying to get in there. right now the airport is shut down, and it doesn't look as

though people will be able to come in our out. there are hundreds of thousands of displaced persons on the move. it's a very volatile situation. >> david, you just said, is eye opening. did you say the islamic state, i.s.i.s., is using american weapons? >> we have a $13 billion train and equip program with the iraqi army. when the iraqi army literally just folded its tent and collapsed on june 10th, which the islamic state forces came in, they left all of that hardware behind. now they own it, and they're using it, and it's very sophisticated, the kurdish peshmerga are highly motivated, but totally outgunned. >> where do we go from here? the peshmerga have incredible reputation for military capability. they've been taken by surprise as well. how far do you think i.s.i.s. could push this?

and into which areas? i think from an energy point of view, going into southern iraq, is of concern? apparently there was a c-130 with military equipment, it wasn't disclosed who provided that, but there needed so they can defend themselves. >> not a limited air campaign, but a systematic one. i need to fly in some -- heavy artillery that's poised to take a shot at ishil. thirdly, turkey has a major financial stake. all oil flows through turkey. turkey originally supported the islamic state. it's time they redeem themselves

by joining the campaign and helping to eliminate them. we need to work this from a security angle as well as diplomatically so that the commercial investment we have in iraqi kurdistan doesn't go down the drain. >> michelle, can we have confidence this will not lead to u.s. involvement on the ground? boots on the ground, as the president has said? >> i don't think there's any political will for that, and i think we live in a country that remembers the last time there was a humanitarian crisis, say, in somalia, we went in and that worked out very, very badly, and americans watch an american soldier dragged through the streets. they know about intervention in humanitarian crisis can actually turn into other things that don't wo, out very well. so the bar would have to be incredibly high. how you're going to help out 40,000 people on a mountain i think is the question. >> there already is u.s. involvement if david is right, if these are u.s. weapons. they're being used against these people. >> we're talking about boots on the ground. >> i know what you goo is are

talking about. i'm fully aware. but let's not pretend -- >> that the c-130 came out of magic in the sky? obviously i would think it would be provided by the united states. >> how tough the kurds are. they rolled over pretty easily here and nobody gave a heads-up that these people were coming, either. >> i think the peshmerga have not been at warmed for a long time and we'll discover -- and they did so well compared to the iraqi military, but that bar was very, very low. >> eamon javers has more on the weaponry story. yes, david? >> let me just suggest there's a tripwire here. we have a u.s. consulate in irbil. there are diplomats there, u.s. business people. if ishil is overrun and they're taken hostage, like the turkish diplomats were taken hostage in mosul, then the president will be forced into a more robust action, and maybe that's going to be the slippery slope. i'm not sure where that's going to lead us. >> seeing if his hand is push. thank you, david, for joining

us. michelle stick around for two seconds. about 6 hung smil00 miles south ishil, hamas rockets have continued. can you tell us the latest there, martin? >> it doesn't mean it's become quieter here. the cease didfire this morning that ended at 8:00, resumed in great -- very quickly hamas wow 50 to 60 -- on targets in gaza. this is all -- this is all taking off again, but i have to say there's a sense here that is rather heart half-hearted.

there haven't been any dramatic attacks against make cities. so although fights has resumed, it seems to be more background music. if israeli negotiators have returned, it's the sabbath here, they say they left because they had made for progress, but the palestinians have remained in cairo, the egyptians are very keen to continue the talks and probably after the sabbath israelis will return to cairo. it's not the end of the cease-fire talks. the hope is the cease-fire talks will be the dominant game. there's so much going on. we want to rank the risk. to find out what headline may be

the most important to you, the market and your money. >> later on, a giant mcmess. another bad headline for mickey d's what's really going on at the golden arches? we'll dig in when "street signs" returns. bulldog: if you're like me,

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points at this point. leading the way higher, home depot, goldman sachs, american express, a broad range making these highs, at least today. >> thank you, dom. america, if you feel overwhelmed with the headline, do not worry. you're not alone. look at what's out there on the negative side. but if you can look past that at what's going on here, the picture may be more positive in america. jobs are growing, housing is strong, consumer confidence is even up. when it comes to the stock market, what do we really need to focus on? >> dan, what would you focus on? what will trump what? >> the truth of the matter is most of that stuff shouldn't matter to the vast majority of investors and traders. certainly there's a short-term implications to a lot of those headlines, we saw that obviously today with russia, we saw it overnight with gaza, but the

fact of the matter is ultimately why you should be buys a symptom is because you think it will be higher, in six months or a year. in that rather nuns of these headlines will matter at all. >> maybe another headline does matter. >> mandy, for me what happens right now sand for me the reason were off these highs is because we've had some reasonable good data here in the u.s., and it's making people uncertainly as to when the fed's going to move, how much they're going to move, are they behind the curve? i agree with dan, these other issues are transitory. the middle east, if oil supplies disrupted and oil goss to 150 a barrel and stays there, that's a problem. i think that's a low probability. if ukraine and russia turns into a bigger military event that could be a problem. so for me the volatility we're

sees now and over the course of the next 10 to 12 months will be towards what the fed will do and when? >> could his headlines keep the fed on the sidelines? >> i think it very well could. that's one thing they have tore thinking of, without a doubt. i do not believe the fed is behind the curve. i do not believe the fed is going to do anything under the middle of next year at the earliest. when you see the headlines like this and uncertainly like this, i think the fed is certainly thinks about it. >> if we're trying to clarify for the audience, what they really need to be paying attention to. >> it's clear in the short term that the ukraine is the driving force, that's blazantly obvious. but i think scott's exactly right. after all these issues, which you willy will be to some degree transitory, after you move past them, the federal reserve shifts around what's expected out of --

out of their tightening policy next year, that's going to be what will contribute to real volatility in the market. from an investment standpoint, i would put that on top of everything. >> okay. what else are you watching closely? for the people, dan, that are not sitting there staring at a computer screen all day. >> listen, any headline of a geopolitical navy will have an effect. the issue is not to be caught up in the minutia. they're only going to have an effect on short-term sentiment. when they move and pass, you'll be left right where you were before. >> scott, very quickly, next week, where do you think the market is going? higher? lower? >> i think mandy we'll probably test lower. we're through the 50-day moving around. the 200-day is not too far away.

from a technical standpoint, somewhere in that 1860, 70 level it will be tested. but we're going to tell our clients to do, is we want them buys on this pullback, putting sideline cash to work. discretionary, industrials, technology, that's where they want to be. next week on a pullback or even from here, we're going to be buying stocks. >> dan and scott, great to have you with us, enjoy your weekend. we did find one big bright spot in the u.s. economy today. we're going to tell you what it is ahead. but first hawaii on the edge. one storm hitting, another one behind it, which has grown more dangero dangerous. being a keen observer of the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier.

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good way to end the week. gold is down just a bit. market rally on a friday, mandy. >> a major tropical storm is moving through the big island of hawaii. the weather channel's jim cantore has the latest. >> reporter: rain continues to fall here in hilo, amending over 2 inches. it's going to continue to pick up in a hurry. the good news is the wind isn't

blowing. you can see that by the palm trees behind us. smart, early on we could hear that win whipping through the trees, but in the last few mowers, it has died off. that goes on with the collapse of this thing as it's move ashore, but unfortunately it's still loaded with rainfall. we'll be seeing, especially once the sun comes up later on today here in hawaii, some pictures from our reed timer. he's going to be streaming video for the hurricane. even though the storm has come ashore, that doesn't mean we're out of the woods. we have a significant rain threat. in some areas there may be 12 to 18 inches. that's just on the big island. maui will get hammered, so is oahu. so just about everybody has this flood threat. that's why the flash flood watches go out all way they kauai. if you live on the big island or

any area of the island chain for though matter, you're probably not used to dealing with hurricanes. as a matter of fact we've been mentions that iselle is the only the second tropical storm to come aschori since the record has been kept since 1950. think about it, big ocean, little island, pretty tough to hit, but we've done that with iselle. we had a chance to speak with joan shaffer. she's not used to the storms. she called a friend down in florida, on how she was supposed to prepare for this storm. >> my florida friends were the ones who said, make sure you get cash out of an atm, your propane tank for your generator is full, you've got food, water, filled bathtub, flashlights, batteries, candles, and a safe play to go in case some flying debris comes through the windows. >> reporter: so the rain continues the flood threat will be our biggest problem going forward, then we will wait and see what hue jo does.

does it weaken? does it come closer than what some of the computer models are showing? time will tell, but the one-two punch, second part coming for the latter part of the weekend for the big island and beyond. back to you in the studio. >> jim cantore in hawaii. biotech is doing well, tech and transports, mandy, all up. pretty much most things are up. what does it mean when we start talking chicken and burritos. it means street talk is on deck. and gold fundamentally and technically, right now is it a good buy? we're going to find out. stick around. you're driving along,

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second worst performer in the dow over that time. jack-in-the-box, burger king up 27 and 32% respectively. we'll talk more about what exactly may be the problem. first let's talk some "street talk" our daily rundown of stocks news, views, and analyst recommendation form we're switching it up a bit. we'll begin with the under the radar names. this is based in dallas and it got an upxwrad to buy. >> it's going crazy. throwing the under the radar name up earlier, that's just insane. their target 35 -- 32, rather, the stock is currently at 27. big backlog, 1.8 billion. >> okay. bb & t also upgrading tyson foods. >> yeah. >> we were just talking about

this stock yesterday. and he said we told you yesterday, tyson told us they could make up the volume from russia elsewhere. about 20% more from where the stock is currently trading. allergan getting an upgrade. >> the analysts saying it's compelling risk/reward profile, following a significant pullback on the stock. that stock is up nearly 70%. this is a big fight to try to block a takeover from valiant. it's kind of an odd call, but still a calling on allergan. >> chipotle. >> it's not a negative, in fact hard to say it simply getting any better, it's basically been so good. so cutting chipotle to a neutral. and let's finish up with barrett gold, upgraded to conviction shun buy from buy at goldman sachs. >> we don't mean buy, we mean

really buy, conviction shun buy. goldman citing improved operational profile. 22 bucks, about 17% above the stock as current price, barrick gold up. that's a perfect segue to our "talking numbers" segment. why not more? todd gordon on the technicals with the fundamentals, george giro. george, are you surprised gold has not moved more to the up side? >> actually i'm not that surprised, because i think gold is terribly misunderstood. it essentially a what you need to maintain purchasing powers over the years and maintain asset protection over the years of some portion of your portfolio, not for geopolitical events that actually come and go. >> what about your case sgho gold specifically, todd?

just throwing in the barrick is a twofer. i can't hear todd, can you? >> i hear him fine. >> no, you don't. >> you don't hear todd? >> are you just messing with me? you're messing with me. >> all right. let's go. i'll just talk to brian. i can fill you in later -- >> i think we've got you now. >> that's my friend peter morph. >> i agree with george. any kind of geopolitical pressure we are seeing. the bid in gold is very weak. we're in a long-term kind of consolidation. gold has kind of lost itself. right now it is an inverse play to the stock market. i think that's gooding to reverse.

one year later, so short term i'm long. i've got for calls on it. above that resistance. i think it all sells off as stocks bottom. >> and you can also check out the online edition. the u.s. starts a bombing mission to destroy i.s.i.s. weapons, but whose weapons did they used to be? ours. we'll have the latest on that ahead. we've also been enjoying in pretty low gas prices this summer. we'll check in on oil prices, next. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading.

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anything. 30. only two lowly stocks are down today. not a bad day. >> let's look at the russell 2000. the small caps have been doing

well as well. it's incredible the way we've turned around here. the small caps up just by over 1%. the exodus from junk bonds appears to be accelerating with record outflowing, just one week, how much more will we see in that's something bill and kelly will be exploring in "closing bell", right, guys? >> it's interesting, it would be happening if rates were going up, and stocks going down, but suddenly it's going the other direction. >> and a pretty good indicator. the question -- look, if you talk to the different credit desks, a lot of them think we've reach that recapitulation point. but as goes junk bonds in this case so goes the broader market, as people try to sense whether the sell offis over or not. >> so we'll try to figure out what happens with the rest of the market if we'll see more selling in junk bonds, but how about this market? we'll see what we do the last hour coming up here. >> though there's still time to

go. >> yes, there is. u.s. planes dropping bombs on i.s.i.s. prices. let's get a check on prices of oil. >> prices closing just moments ago. let me update you where we stand. wti closing slightly higher on the day, 97 puff 65, but down almost 6% in a month, brent crude closing just around $105, but down 4% over the last month. brent actually turning negative later in the session. so what's impacting oil prices here? you mentioned the latest news comes out of iraq, certainly geopolitical issues are front and center on traders' minds today, but the oil market not overreacting. that is because of the three conflict zones we're watching, iraq, russia and also israel, there haven't been any supply disruptions just yet. in iraq we're talking about the north. the news about russia and beefs the exercises, the military exercises at the border, that's

actually positive news, but really not royaling the oil markets today as it did with equities. in the futures pit, typically they shoot first, ask questions later, but they are being very cautious right now, studying the geopolitical events before they start making moves either way, even though brent prices were lower, prices are still supported with these things on the back burner. back over to you. >> jackie deangelie, thank you very much. where do you think energy prices, crude prices are headed? >> i think it will be more of the same, mandy. i think the explanation on the supply side was very well done just now. on the demand side, europe is weak, the u.s. is not strong, and the rest of the world is really not growing demand very much at all. so we have to remember, hoefr, we're at a pretty high price level, all things considered, given the weakness of europe and the lack of growth in the u.s., so any geopolitical event could

set it off. the unpredictable is always what we never know. so we have to be aware of that. there's an interesting phenomenon in the u.s., however, that was just reported by the energy information agency of the department of energy yesterday. and that is the sixth -- the six fastest growing states in the u.s. all happen to be energy states in which energy is pushing the economy forward in those states, up to its high as 10% in north dakota, 3.7% in texas, and oklahoma, west virginia, wyoming, all growing double the rate of national economic growth. which says something about the u.s. in this geopolitical volatile time. why aren't we doing more to take care of ourselves? that to me is the serious question that should be answered in washington. why aren't we doing more to take care of our future oil requirements by exploiting more domestic resources. >> and production, john, has gone up. this, mandy, real le blew my

mind in researching this segment. i consider myself to know a bit about oil. production has gone up, but look at this chart. production was 2 million barrels a day higher in the 1970s than it is today. i know we've had a resurgence the last few years, john, why were we stupid from the 70s to the mid to late '90s? >> we thought we could import oil as a much lower price than we could produce it ourselves. >> from our friends at opec. >> they were our friends perhaps in those days, but no longer. >> all of them? >> in addition, you have to look at libya, egypt, syria, hamas, and israel. you look at iraq, iran, this is are all oy-heavy regions of the world. why we would rely upon them when we have all this natural resource in the ground and domestic north america is just a mystery or to put it differently, it's a failure of political leadership to come to

grips with the nation's future. >> do you see that failure as having a solution, as clearing anytime soon, or is it a logjam in the foreseeable future? >> it's jammed up completely. >> an anti-hydrocarbon white house, a anti-hydrocarbon senate, a pro-hydrocarbon house and it's all mixed up. there are enough bills sitting in the senate waiting for action from the house to remedy this situation over the next five years. but nothing's happening, and nothing will happen, i believe in the next two years, unfortunately. unless the senate changes, perhaps, but then we still have the white house to deal with. this failure of political leadership is going to come back to haunt us over the next three to five years when instead of getting ready for a greater collapse in the middle east, and getting our own act together domestically we sit here and we do nothing. shame on us.

>> not that i can add to that ending. john, thank you very much. >> when you end on "shame on us" there's really nothing more to be said. mcdonald's sales are continuing to slump, especially here in the united states. c'mon, america, where's your love of burgers? well, the company seems to be getting its core mission, or maybe is competition growing and getting better? we're going to try and work it out, coming up. average 17 manufacturers a day shut down in america. there's no reason we can't manufacture in the united states. here at timbuk2, we make more than 70,000 custom bags a year, right here in san francisco. we knew we needed to grow internationally, we also knew that it was much more complicated to deal with. i can't imagine having executed what we've executed without having citi side by side with us. their global expertise was critical to our international expansion

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if we can't offer faster speeds - or save you money - we'll give you $150. comcast business. built for business. a big turnaround, you can see some positive headlines coming out of russia. who knows the market reacted to them, very clearly exxon mobil part of that story. it is up 1%. customers seems to be loving it just a little less lakely with mcdonald's. sales in america down 3.5%. the stock down almost 9% in the past three months. they just recently downgraded mcdonald's, though he does believe it holds value. well, what is wrong with mcdonald's? what's going on? >> thanks for having me. i think there's a couple issues primarily in the united states in their home territory. you have an issues with the

customer on the bottom and high end. on the low end, that customer is simply not improving. you had this pricing war, and at the higher end, the growth growth, as chipotle, is taking that customer away. in china where we saw that whole region was down over 7% this month, that's led from a supplier issue. so i think there's just a lot of negatives going on in mcdonald's right now. >> that supplier issue didn't just hit the china market but the japanese market and others as well. about 10%, to 15% of its revenue. it's big deal. what can they do? >> internationally i think you'll have a trust issue, so as far as the brand goes it's been strong for a long time. they've known for their core products and people love those, but there are question marks around that. even though the supply issue probably gets fix in a couple weeks, the supply issue there are more question marks.

after the numbers came out this morning we lowered estimates for this and next year because we wonder about that consumer trust issue internationally. >> do you think they listened too much to its noncore customers? do healthy, oh, mcdonald's, do this from a food perspective. now apples. do you think anybody wants to go to mcdonald's for a, quote, unquote, healthy meal? did they lose their way? >> i think there's a lilt bit of truth to that. they've put salads on the menu and taken them back off, put more apples in kids' meals. that second okay. but i think at the end of the day the mcdonald's core customer comes in for value. you're paying for calories at a low price point. i think to the extent they can focus on that and innovate around that to give you a reason to come in the door more frequently, that's where they win. i think as they try to be all things to all people it's not necessarily a winning strategy. >> there a better pick in the sector, p will, that you prefer to mcdonald's? >> i think son sick doing a really good job. they announced the first-ever dividend last night, another big

sharing purchase program. they're saying sales were up 5% last quarter. they've been innovating well around the treat segment, milk shakes and town dane drinks, things like that, a bigger part of their business than burgers and fries. if you can offer an affordable indulgence that's something you don't see next door, that's great. >> ironically i was just looking at the sonic website to compare what they're offering versus mcdonald's and the front page of sonic right now is dog days are the best days, cheesy bread dogs make any day better or a slushy with the candy nerds in it. while mcdonald's is offering below 400. calorie things. my point, sonic says, hey, america, you want a cheesy bread dog, don't you, in fact, you want two of them and a 32-ounce shake. not apples in your happy meal. >> going back to why do you go out to eat, right, most of the time you don't go out to eat to feel better about yourself but to indulge.

it's an experience. sonic has dope a great job saying you can't get a cheesy bread dog anywhere else, so that innovation is a big part of it to bring customers into the door as opposed to i can eat healthy at home. even though i want to feel a little healthier, that won't do it for me. >> when i want a salad, not going to mcdonald's. there's sad irony in this new u.s. bombing in iraq. we'll explain why your tax dollars, taxpayers like you, you could be outraged by this story. >> as we head to break, the best performer in the spooich on this big day is that one, nvidia. if you own it, pat yourself on the back. but not while driving. use two hands for that. up 8%. your 16-year-old daughter

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there is a sad irony to the usair strikes against i sis. some of the weaponry the u.s. is destroying was sent to iraq by the united states in the first place. eamon javers joins us to explain. as i understand, it is not just u.s. weapons they are using. >> yeah, that's right, brian. it is a mixture of u.s. and ex-soviet, also syrian weaponry that the isil forces are using. military experts say one of the ironies is the united states supplied the iraqi army with sophisticated american weaponry and when the iraqi army was routed by those isil forces they basically abandoned all that expensive american taxpayer financed equipment on the

battlefield. it was all scooped up by the isil forces and that now includes things like humvees, mrap transport vehicles, heavy machine guns. you can see in this picture that looks like a mad max version of a humvee. clearly it's been through some thi things but it looks to be an apparent piece of american hardware. again in this picture, another apparent piece of american hardware in isil hands. that is giving them a tactical advantage on the battlefield against the kurdish peshmerga fighters. but what the military experts i'm talking to say is it will likely not give them an advantage against any american air strikes that are inbound. so the prospect here is that you might have american pilots firing american weapons to destroy more american-made weapons on the ground that are being operated by isil. getting very expensive for the american taxpayer here. >> absolutely. very controversial story. thank you very much, eamon javers. let's take a look at some of the major yoeuropean markets in correction territory, 10% or

more. portugal, greece, russia, germany, italy, spain all in correction territory there, france kind of teetering on the edge. japan i think is down about 9% over the past month. one of the star performers has been china, surprisingly enough. why am i bringing this up? just to put it in perspective because our s&p 500 is only down by 3.2% from its high, which was hit on the 24th of july. so rel live the speaking we're doing okay. >> is this the dirtiest shirt in the bag of -- what is it -- the cleanest dirty shirt -- >> in a dirty laundry bag or something like that. >> the best-looking pig at the minnesota state fair. wait. i'm just taking it away. greece is down 7.5%, by the way, this week. feels like 2011 again. some bad news and some good news. i'll end on the good. wag, walgreen is really tied with time warner as being the worst performer stock in the s&p this week. it's up today but down 12% this week. they decided to do a deal to buy

lie ons boots but decided not to do the tax inversion when where the headquarters would go overseas. the best performing stock, a nice way to end the week, at least for our show, the best way to end the week is with limited brand, best performing s&p 500 stock this week. they are the parent company of, mandy? >> victoria's secret among other things. >> i was thinking more the bath and body works. >> well, i'm sure they have lots of brands. victoria's secret is the one that immediately came to my mind, anyway, for obvious reasons. >> so the stock is the -- we get to show this video. the stock is the best performer of the week. they have a dividend. the target price is raised by rbc capital. look at that. i could keep talking. my favorite, the peacock for nbc. >> you just want to watch the pretty pictures. okay. quickly, let's look at what's going on with the joempl market. we're doing pretty well, up by

141 points there on the dow, not exactly the high of the day but, folks, earlier on today we were looking at the third straight week of losses for the dow. now that is not the case. it would have been the first time this year. >> not a bad way to end the week, at least for us folks, but still an hour to go. should be a biggie. >> indeed. "the closing bell" is next. welcome to bell bell. i'm kelly evans at the new york stock exchange. >> i'm bill griffeth. what a day this has been closing out the week on a pretty high note as fears about escalating tensions in ukraine subside this afternoon. now the major averages have all turned positive not only for today but for the week. you never know what can happen in this final hour of trading. up 137 on the dow. >> we were about to have a three-week losing stretch for the dow.