but we want to talk about the markets because it's been a whip saw week here on wall street. but we've been looking at green arrows since the open. the dow up about 1 and a half%. and despite the gains on the dow it is still on track to finish that week on the red. that would be the fourth down week for the dow in at least a couple years. so we want to stay with the markets and talk a little more about what is moving behind the markets and get to the goldman sachs builders and innovators summit in santa barbara. carl over to you. >> and kayla, thank you so much. we are here at the builders and innovators summit with david solomon. david what a treat to have you. >> nice to be with you. >> we'll get to the markets in a minute but walk us through this summit, what it is and why goldman does it. >> we really believe that the work that entrepreneurs do is violate for the u.s. economy.

violate for growth in the economy. and this gives us an opportunity to convene a broad group of really talented entrepreneurs, people innovating in businesses and in some places disrupting in businesses, bring us together, to collaborate and share experiences and really see what we can learn about them and what they can learn about the experiences other entrepreneurs have had or are having. and the combined rulgt of that is hopefully people can do a better job building businesses, hire more people. good for the united states, good for all of us. >> some of the big names, michael dell. kevin plank of the under armor. reed hastings. i don't know who gets more out. those guys talking to the younger ones or the guys hoping to be them in the next few years. >> we're hoping to bring new and old together to some degree. and you mentioned had people who have accomplished a lot, seasoned entrepreneur, builders who have accomplished a lot in a

big period of time but they interacting with other entrepreneurs just starting businesses get an incredible amount from spending time with people like michael dell. walking around talking to people and looking for advice and giving advice. a great opportunity for people to collaborate. >> starting businesses when the world is throwing all sorts of curveballs as them. how has that made its way into conversations about investment banking. >> there's been a reasonable amount of volatility and it effects people decision making processes. they look at transactions. and we're very focused helping our clients get the right result whether capital raising or advising them on some other attraction and as markets are volatile it changes how people

feel in any particular transaction that. said our clients generally take a long-term view about the things they are working on. especially m and a deals. many of these develop over a number of years and volatile has to be considered but we continue to work with our clients and get the right result for them. >> does it mean fewer deals? lower premiums? certainly the cost of continue sl not that much more expensive. >> certainly this week without the volatility we probably would have seen a few more ipos. through a few on the slate that did not get done. on the other hand there are ones happening. and there were a couple of ipos priced in europe. deals are still getting done but in some cases the price might be a little lower the size that might be a little smaller but for good companies the markets

are still open. but we have to watch the markets and volatility as we move forward. >> ebay and hp we've talked about. now the number one spinoff adviser. what happened to the conversation about scale being king? >> it's interesting at the moment but there is no question that investors are a group of investors that are very focused at some of these big companies looking to drive relative performance and they are saying we're not sure in some of these the best model is having all these businesses together. we know because we've been around for a long time that ebbs and flows and it is specific to different businesses. there is no question that investors are focused on scale, the efficiency of scale, are businesses getting the best they can out of it. but it is not universal and different for each one. >> let's do inversions. how does one handle these conversations about regulations that would make inversions less attractive? >> the important thing -- there are a couple things to important

to recognize about inversions, first they have been a small portion of the overall m and a activity. there have been a handful of transactions where if the inversion aspect is important to both parts. transactions to work generally have to have a fundamental strategic reason a fundamental strategic rash nal to really work. and the tax tribute -- laws change we work with our clients to make sure to make sure they are in a transaction they want do because there is a strategic importance it still makes sense in the context of changing rules and regulation. dialogues around bringing companies together continue and the change in the rules is not a big impact on the dialogue. >> would you call a change in the rules a given? it is going to happen. >> well there has been a change in the rules. as to whether they change further from here is yet to see. >> -- overstapted for a lot of

these deals to begin with. is that true? zble when clients are looking at these transactions there has to be a strategic rationale. there that is to be the economics of bringing the companies together and what think you can achieve generally drives the transaction, not the tax status. >> your own role and driving investment banking at goldman. margins are higher. what have you done internal to make that happen. >> we sfend our time focused on client. we take a very long-term view and really understand and think about our client relationships is just really important to our overall businessich franchise. and if we spend time with the clients and give them the best advice possible and have good people that understand the products and services our clients need and we execute with a degree of excellence that helps clients achieve our goal, if we can be consistent on that the business performs well. and over the past couple months the environment has been better,

a sentiment generally up to this last couple weeks has allowed clienting to be a little more active and we've benefitted. >> i talked to -- recent quarters, last year was the inverse where there was not enough activity. i asked whether that period was truly done. hard to say. >> hard to say. i'm not a good predictor. our job is to talk to our clients about the environment at any given time. and try to help them in the context of what's going on in their business and make the best decisions so they can execute. >> and then with the question around here at the summit, the topic of ebola gets talked about. how does that make its way into a conversation with the client where the resolution or the solution seems so far off? >> well, everybody obviously is reading about, talking about ebola. trying to understand. but it is not a client-driven conversation. the as human conversation. we're all concerned. we're all watching. we're all trying to understand

to the best degree we can as to how this is unfoldingal. but it's not yet effecting client dialogue. >> good to see you. >> thank you very much. thank you for being here and supporting the builders and innovators. >> thank you for the weather. which couldn't be better. >> sometimes i wake up in new york. sometimes i wake up in california. i like california a little better this morning. >> david solomon. co-head of investment banking at goldman sachs. >> thank you carl. meanwhile our market coverage does continue. stocks are in rally mode. we are seeing triple digit gains on the dow up by 240 points and up next we'll ask shark tank's kech a leery is f today a day he's buying. and breaking down the latest offerings from apple. and celebrity meets wearable tech.

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welcome back to "squawk alley." there might be a nice rally on wall street but netflix is falling once again after

reporting earnings lossing this week. there have been six negre visions and current earnings consensus has moved lower for netflix stock. down about 25 percent. >> quite a stunning move for that momentum stock. forget the bulls and bears. we have shark on the markets this morning to tell us what happened this week and where you should now be putting your money. that is none other than kevin o'leary. chairman of e leery funds and a shark taung investor. >> great to be here. >> what do you make of the action and with the dow up are you buying in a rally like this? >> i did do some buying this week. in two areas. i deployed cash in two spaces. one we got a real gift starting with the bill gross controversy when we saw the high yield debt

market. large corporate debt. short duration when are from basically 4% to 6. 200 base points increased part ly because of the bottvolatilit the equity markets. yesterday i took down a basket of 6 and 4 s&p dividend paying stocks that i like and e maintain. dividend growers. you know i don't touch a stock that doesn't pay a dividend. i don't want to get netflix and i don't like what i saw in google today. i like cash flow. >> we know that very well about you kevin. but when you look at the move like in the russell 2,000 which was strongly in correction ta tarttart territory but then one of the first to recover. now positive territory. do you think that portends that

we are going again going to be in rally mode going forward given how much dovish sentiment has been in the market in the last 4 hours. >> you don't have to take the risk of small cap stocks when you get this volatility. my average market capsize is 40 million dollars. and i've got as much volatile as i had in the small caps. but i argue that in the long run the dividend payers at a larger cap will give me less volume overall. i like what i saw in the russell but that is too spicy for a guy like me. i'm conservative. i try and protect my capital. >> and you have a lot of capital now so you can afford to be conservative. we're at session highs looks like now. what is your outlook for the rest of the year in general? feeling good about things? or do you think some of the scarce we've had are going to be a problem for the next couple months? >> well the scares brought

volatility and you have had pleasa plenty of people talk about what they are. i look at cash flow. what i look for is pretty good earnings. there were some misses. it wasn't as great as q 2. but i'm still on track at $117 minimum. so i'm basically saying i'm paying 11 times earnings next year's estimates. 14.6 times at least at 2:00 yesterday. this year. those are the kind of snack brackets i like. that is tasty. a 14 pe traditionally has rewarded me as an investor. eleven times? that's very tasty if you believe in next year's numbers. i like where the market is now and i'm buying. >> but we're heading full speed into the holiday season. and retailers don't seem to feel that good about it. ebay and walmart and now urban outfitters preannouncing its third quarter and saying it is going or the far worse than expected. a lot of retailers moving in

sympathy with that today. even though the consumer might be doing better the companies haven't figured exactly how to position themselves going into the season. do you stay away from giant baskets of sectors like that? >> no i'm exposed to that sector. but here's what i've learned about retail. at any one time -- and you have fantastic analysts in that space -- you have a bunch of winners that are great merchandisers and a bunch of losers who've lost touch. the sears of the world who don't know how to sell anything. here is my bet on retail. i'm betting that lower gas prices over the next quarters are going to bolster purchase bis consumers who are feeling more bullish about the added cash in the their pockets. i see oil going down to 75 and i'm going to be rewarded in that in q 1 and 2 of next year. that is, that is the plan. make sure that happens for me, okay? >> all right the conservative kevin o'leary coming at us today

from toronto. thanks. >> a strong day for markets in rally mode since the open and now we're keeping a close eye on the european close. we'll have it and the impact on the u.s. next on "squawk alley." let's check out shares of sandisk trading lower about 1% even though earnings beat estimates. the ceo will join us a first on cnbc interview in a moment. 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. it's in this spirit that ingu u.s. is becoming a new kind of company.

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market still at session highs just about 2 hours into today's trade. nasdaq up 70 points. roughly 1.75% gains. roughly 88% more shares traded this morning than the exchange's

three month average. so clear sentiment this morning not only about what europe may do to stimulate its economy but also more dovish sentiment entering here and then positive earnings, of course not all, but there are a few names out there that are strengthening the overall economy. >> absolutely. and investors trying to parse through the tech earnings. and here to help is sandisk. the co-founder and ceo of sandisk joins us first on cnbc. sanje thanks for joining us. looks like you had a lot of good things to say in the quarter but help also understand what you said about revenue. because there is some capacity constraints. also issues that you would expect to see as you are integrating fusion io. what are the revenues coming in lighter than some had hoped?

>> thank you john for having me on the show. third quarter was record revenue with excellent earnings and cash flow. in fact during the quarter we had a half billion dollars of shareholder value return. capital return. and sandisk really did very well and our revenue in the retail side was e impacted somewhat in certain markets such as latin america and russia is well known in terms of macroeconomic effect there is. and -- sandisk is well positioned on the back of strong vibrant demand drivers for flash storage usage in smart phones, tablet, ultrathin notebooks. and i really expect sandisk revenue to continue to do very well as we look at 2014 opportunities. >> you report that you are

seeing strong demand signals across product categories moving forward and you also said that the iphone and ipad capacities now bumping up to 6 4 gigabytes at the mid range and 128 at the high end you see that as good because you expect apple's rivals to follow suit. how soon do you expect that? and how does that effect demand in 2015? >> as we speak the demand for high capacity and average capacity in smart phones is continuing to increase. apple introduced 64 gigabyte and 128 gigabyte high capacity in their high end phones. of course the android phones and rest of the system i believe will follow suit very soon in terms of higher average capacities as well. but it is not only about that. it is very exciting that if you

use a notebook computer with solid state drive flash in it you don't want to leave it behind. you want to continue to use solid state drives so that is another application that is driving in computing demand for flash storage and then enterprise and data center. all these trends increase demand. and we feel with our technology, our supply chain, our manufacturing capacity as well as in terms of our road map we are very well-positioned with our customers. >> speaking of enterprise sanjay, you said you expect your enterprise ssd revenue to pass a billion dollars in 2015, a year ahead of schedule. that's exciting news of course. but investors are going to worry perhaps about supply. how confident are you that we're not going to get flooded with supply from your competitors to drive prices down even as you

are preparing to deliver your own extra supply in 2015? >> when we look at the total supply picture and supply growth in 2015 we see it in the 30 to 40% range for entire industry. and when you look in the backdrop of the demand drivers, that i just spoke about in smart phones, tablets computing and data and enterprise bodes very well for the health of the industry. and overall sandisk's capacity i feel is very sound. we are very disciplined, well planned and executing well and managing business for growth and consistent solid margins and of course strong shareholder return. >> absolutely. and i heard you say you are looking to move to 15 nanometer and think you got a small dye size on that which is good for your efficiency. sanjay, thanks for joining us

this morning. and let's bring in simon hobbs and the close of europe. >> wow, wow, wow. look at the figures, how greece is up 7%. italy over 3%. it's been a monster week for european markets. the atmosphere helped by the fact that the european central bank has announced it's completed the legal framework on private qe around europe. and then massive swings to the downside. merril calling in a monster outflow. but we are rebounding strongly as you can see. yesterday you have the massive interday swings of up to 5%. this is where we ended for the week on the charts.

i can tell you that -- this is the important thing. the german dax is now flat for the week overall give or take. in fact slightly positive up half a percent. you can see spain and milan are down in negative territory still however. the other thing from the ecb is last night they announced they are going to reduce the haircut on great debt banks post as collateral with the ecb. that basically injects funds or at least it is extra capital for the banks to play with. and that is one of the reasons why you see greece rebounding 7% today. don't forget this is the week that on the greek concerns we saw a real spike on interest rates in greece on the ten year coming up towards 9%. the actions have taken us back down as the market rally in general. the situation has improved.

on the economic front and corporate front. bear in mind there is still major difficulties in europe and highlighted by rolls royce. the giant engine manufacturer. they are warning of a rapid deterioration because of the russian sanction, the oil gas mining and construction contracts being canceled for next year. and that will wipe out gains for 20 2015. the stock is down on the session. jimmy chu, the company came through with its ipo raising a quarter of a billion for backers. the stock now i think unchanged on the session overall. wild rides. jimmy choo. >> i have one pair for special occasions. but people are saying that the fact that company was even willing to brave the market, was a sign that corporates feel a little healthier about the environment. at least that is the story

today. >> do you think really? >> that is the story today. simon thanks as always. when we come back we're in the midst of a strong rally. we close out what's been a very down week. "squawk alley" back in o moment ? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. hi michael! looking good! trying to keep up with you! i told my producer karen that i take metamucil because it helps me feel fuller between meals. it's just one small change that can help lead to good things. now she's breaking up with the vending machine. nope. i call that the meta effect. [ female announcer ] 4-in-1 multi-health metamucil now clinically proven to help you feel less hungry between meals. and promotes heart health. experience the meta effect with our new multi-health wellness line and see how one small change can lead to good things.

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. we are keeping our eyes on the markets.

triple digits pretty much out of the gates. dow is 273 into the green. but still quite a tape and quite different from earlier this week. poppy pisani is on the floor to tell us why. >> we are at highs for the day essentially even into the european close here. this is a notable rallycross the board. industrials and materials doing well here. the key fact for the market is enormous relief around earnings commentary. big industrials, three big ones talked this morning and none of them talked down their guidance for fourth quarter. quite the opposite. general electric and honeywell, this is not a time to microscopically diagnose them

but ge kept guidance. up 22% for the quarter versus 4% for the prior. the fourth quarter the cfo said will be very strong. then honey well raised the low end of their 2014 guidance and their revenue guidance as well. two of the biggest industrials in the world. tremendous sigh of relief when those comments came out. then tech straw. and this is woucht the big global aviation. tex tron. they beat and raised their 2014 guidance. raised the guidance. so three big industrials, nobody is lowering guidance. a couple are raising it. and the low end were raising overall in the case of tex tron. this is really what moved the market. if you look at multiindustry companies, other big names that

sell industrial products and aviation products around the world, these companies are all up today leading the rally. and again i watch them very carefully because they make all the things behind the walls, things you can hold, aircraft part, automobile, heating ventilation, air-conditioning. all the stuff that goes into modern technology and building that is very critical for the overall atmosphere and really for feeling down here. >> good point. thanks bob. from apple pay to new tablets the tech giant also makes some things and it unveiled several offerings yesterday. on the heels of the iphone 6 release if china. cnbc caught one apple's ceo tim cook yesterday and here is what he told us. >> a lot of customers wanting to buy and we are launching as soon as we can. the -- it takes time to go through the process and so

forth. and we're happy to be doing it in a few hours from now. >> kara swisher is co-executive editor of recode. a lot of ambient noise in the sound bite but he seemed very optimistic even though it was a bit of a delay. prospects in china? >> good i think. very strong preorders. i don't think he would have been quite as enthusiastic. they report on monday i and think he was signaling the are results so far have been terrific in terms of sales. 45 to 40 million in this quarter and that is without china. so i think they are pretty bullish on the sales in china. >> and the unveiling yesterday kara of all the new products that the company released. it's mature market the ipad. >> yeah. >> what you saw the id that ignite the market from your

perspective? >> no it's just a better ipad. slightly thinner. the feature with the touch, the fingerprint. i don't think there is that much more in it. it is just a better version essentially. and i think they are just cleaning them up. i don't think it sets the world on fire this particular new version. >> kara here is what i wonder. there can be sometimes just difference between an announcement that has great theater that gets people excited. and then an announcement that has meat that ends up paying off for inforvestors. might this be the latter? touch id seems to be a feature that is popular. might there be an upgrade cycle to ipads that actually surprises people volumewise? >> no i don't. i think it is just they were introduced. yosemite. i think the most important thing here is apple pay again. i'm still fascinated of the idea whether it is going to work or

not. whether it really catches on. i saw larry pate last night and he said it's been around two years. and he's right. and will apple be the thing that moves it to the next level. and we'll see. but i think this is largely a follow on of the iphone event which was very dramatic. and more important. because it is an iphone company. >> ipads have been around a few years. and they the sell a few of those. >> yeah. >> -- having to answer questions about amazon and apple and all the competitors encroaching on google's backyard. when you look at the quarter like this, yes revenue was a amiss and spending went up but do you think that investors were overreacting? >> no, they just expect a lot from the company. i think it is just this company that always performs. and so, you know, they definitely have a lot of challenges. and they have gotten into areas

that are very competitive. they came boo into the phone business after apple so it's a really tough business and they are going to have to get questions how they are doing it. and they certainly did have the first large screens. they were first around nfc and the question is will the next versions will better, to keep ahead of apple. and that is the main competitor. and then the chinese companies. >> finally in the last hour we got news that the president would be appointing ron clan to be the czar to coordinate the federal efforts to combat the ebola virus. he's currently president of case holdings. how do you see him take on that roll and what type of roll will he fashion that into. >> he's been around in the internet space quite a bit. and i think he's a very quiet behind the scenes get things done kind of guy. i like him. not a flashy character.

he was almost the chief of staff. he's one of these people that's not going to call a lot of attention to himself but probably focus on the task at hand which is enormous and very important, especially in quieting fears about the spread of this terrible virus. >> kara we appreciate your time. have a great weekend. >> thanks. >> kara swisher out west. when we come back across the board stocks continuing to rally this morning after major declines earlier in the week. rick santelli what part of the market are you focussing on now? >> the good part of course. hey we're going to talk about this week in my opinion contained the easiest trade in all the 35 years i've been watching the fixed income markets, truly. and it was worth a boat load of money. and we're also going to talk about structural issues very la la land with regard to addressing them. and if you want seeds to grow you have to have good soil. otherwise all is lost. what does that mean? we're going talk about the fed

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bringing new meaning to the word partnership. banking. loyalty. analytics. synchrony financial. engage with us. coming up on the halftime show lye live from post nine. is that it? is that the correction or just taking a breather. bank analyst mike mayo talks morgan stanley, bank of america and which banks are best positioned for low interest rates and a bear case for stocks, the manager of the active bear etf.

we're going to debate top short picks. that and much more. noon eastern in about 15, 20 minutes, kayla see you then. back at the markets now near session highs. up currently 278. the nasdaq sharply into the green as well. and we're seeing just a broad based rallycross the boa across. driven by housing and better than expected consumer sentiment earlier this morning. >> tech stocks up more than 3% this morning. workday, adobe, palo alto networks. even king candy crush a nice literally. >> i feel like your home page is

king. i know you watch them closely. meanwhile here's rick santelli, where he is focused on the good part of the market. a lot to work with today, rick. >> i'm not necessarily thinking about the bottoms in stocks. being on a trading floor whether stocks go up or stocks go down it isn't really one is good or one's bad. it depends on the position that makes it good or bad. i know the public in general is always on the buy side but there is whole other life out there should it be necessary to go the other way. treasuries, one of the greatest trades i've seen in a long time i think. pretty easy to pick out and jump on and the whole world was caught the wrong way in many ways and of course i'm talking about the interday plunge in rates wednesday. the 10 year get to 186 and five year in 210. current levels you see. here is how much you are up right now. 35 and 32 basis points

respectively. that is big time. and when you consider this just as a function of this percentagewise it makes it even bigger. now the closes those days will forever mask interday volatility but we will remember. remember on this particular day we closed had ten year around the 214 and around 134 on the five year so now those are your weekly benchmarks in terms of weekly closes and it certainly looks like wii will be above those. now does it mean that everything is over? absolutely not. but what it does mean is that treasuries are going to probably now resume the type of trade they had prior to that. and i think these levels may hold up for a good long time. let's get to something else. simon hobbs did a great back and forth today. the issue was quite simple. janet yellen speech 8:30 eastern in boston following i believe a new york interview not that long ago, where the topic of finance

and whole notion of disparity in incomes was brought up. from the speech today. janet yellen, the past few decades of widening inequality well-being summed as significant income and wealth gains for those at the very top and stagnant living standards for the majority. let's ponder this if a minute. today we had housing data out. and it was pretty good. it was darn good at 8:30. but it still shows what i ule a wonderful life. and potters vil is renter. we want to e buyers in ownership. the problem with this is really the federal reserve needs to concentrate more on creating a the nice financial soil for growth and education is a big issue there. why do i say that? because one of the comebacks was, is that allen greenspan used to talk about this. i tried to reach out to allen. yes he's made many speeches since fed chairman, about how

education is a huge factor contributing to this widening dispair ti but i don't really as chairman that this was a significant topic. we couldn't get him for comment but in the end structural issues for education and making a better soil fall os temperature politic --s on the political class. --. go and vote. mid terms coming up. back to you. >> gotcha rick. a quick programming note for you guys out there. monday i'll have an exclusive interview with microsoft interview satya nadella. his first interview after the comments. 6:00 a.m. eastern and i'll have more on "squawk alley." up next keeping an eye on the rally with the dow up 291 points. be right back. ♪

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comcast business. watching shares of chimerix because it says it had fda approval to test its antiviral on ebola patients. let's it go ahead with the clinical trial of the safety or effectiveness of the drugs. chimerix had made the drug available to the first ebola

patient diagnosed in the united states. chimerix down about 3% on that bit of news and other head lines, finra saying they made a halt of all over the counter trade --. the halt is doo tow a lack of current quotation market currently available in the marketplace. -- right now there is still a trading halt for certain securities. typically some of those smaller cap in nature and do not trade formally on an exchange like the new york stock exchange or nasdaq. otc, over the counter securities halted for trading and quoting. fnra has made the all on over of

those securities. >> back at the markets. dow is up 304. that is very clearly the session high today. nasdaq in positive territory for the week. energy, industrials leading. part is good earnings, part is the sentiment we saw from europe. art cashin is here to walk us through it. we woke up this some really dovish comments out of europe about qe or some form of qe beginning in a matter of days. but you are doubtful it will have the effect it needs. >> i've been doubtful from the beginning. i don't think they are structurally set up to have an effective qe. they have individual sovereign bonds. and unlike japan and the united states where there is a huge treasury markets, you can't buy enough. and they are so competitive that if the ecb starting buying the german bonds the italians would

complain and the italian bonds the germans would complain. it worked this morning. everything was over sold. right now we're pause aggregate tuesd -- pausing at tuesday highs. >> not just that the ten year yield is 2.2. holding above. oil has been rising steadily. dollar so much in focus. what are you watching for in the oil market and what should investors at home be looking for. >> i would look at oil. it's been a key factor for all this week and stayed in plus territory which has allowed this rally to sustain itself. if oil goes negative i would assume you begin to see pressure on the stock market. >> for mom and pop at home this had to look like head fake week.

understand ups and downs wednesday. do the volumes tell you anything about the sentiment? how much should we believe what is happening today versus what happened earlier in the week as we look to next week? >> the volume is staying active. looks like another billion share day. but i think part of that is we started out with what looked like forced liquidation. and now that's picked up since we had some real bargains that people scooped up and in response oto what's happening in europe or what's possibly happening in europe. so we'll see next week i think we have another story and we'll see if we get this thing settled out. i don't think we actually proved quite yet. we may have to retest that low. >> best day for the year in the dow. will we need to refresh that? we will see as much volatility in the up and downside that

everyone should get used to that. >> octobers are known for this kind of volatility. luckily for the viewers octobers are known for putting in bottoms. so even if we have volatility next week we'll cross our fingers that we're putting in a bottom. >> and today technicals to watch? >> again try to watch if they assault the 1900 to 1098 and go from there. and other than that concentrate on oil to see if it goes negative. >> have a great weekend. art cashin here at post nine. while the market is rallying we want to update you on this week's tech crowd winner. the cnbc audience has been voting on the wearable they would wound. pavlok has set out to change bad habits by delivering small shocks to users. get the name? pavlok.

they were up against rufus cuff. and the rufus cuff has been crowned this week's "squawk alley" tech crowd leader. congratulations. of course we'll have another next week but thanks to everyone for voting. "squawk alley" will be right back. get to the terminal across town. are all the green lights you? no. it's called grid iq. the 4:51 is leaving at 4:51. ♪ they cut the power. it'll fix itself. power's back on. quick thinking traffic lights and self correcting power grids make the world predictable. thrillingly predictable. goodnight. goodnight. for those kept awake by pain the night is anything but good.

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here is bob pisani who has an update. >> i spoke to ot markets which runs the business. they are working to fix the problems. they were having problems updating the quotes on the platform. they voluntarily stopped it a while ago and then fnra stepped in and halted at 11:05. not quite sure of the problem but it is a technology issue. it's not related to anything in the larger market. they called me and said we will update you as soon as we know exactly what happened. >> any idea the type of volume effected by this? >> you would be surprised. a lot of these otc stocks are hotly traded.

famous names like hooieineken. there are some hot markets so significant volume. this is not an irrelevant business. >> we know you will have more as the story develops. meanwhile just about to hit noon on the east coast here. let's send it over to fast money and the halftime report. >> all right. thanks so much. welcome to the halftime show today. live from post 9. mike murphy, johna ja john naja. --. we begin with stocks sharply higher. and for the moment investor sentiment appears to have shifted. what we think is a very positive signal, small caps are outperforming lately. the