to talk about the markets, where we have been, where he thinks we are going. he will make sense of all of it. >> final trade. >> rlgy. >> dxj. >> netflix. >> power starts now. "halftime" is over. "power lunch" and the second half of the trading day start right now. folks, welcome to "power lunch." thanks for joining us. it is a bit of a comeback friday. stocks are booming. what a week it has been. the dow, there you see it up almost 2% back above 16,000. nasdaq 4,279 and the s&p 5001.5% higher. there is the russell. a little more modestly so today. here are the corresponding etfs. the the etf spider s&p 500 is up

1.5% and i shares russell 2000 up. taking the cues from the fed. we are getting ahead of the fed and look at the next moves and next decision to make or not make a move. members are speaking. stocks are moving and is the fear fading? stocks are up, but ebola still lurks and that's why we ask is the fear fading? new york state has designated eight hospitals as ebola centers, the ones that will be the critical care places should that disease appear in the empire state. we have the head of one of those today right here on "power lunch." let's go to where all of the action is. that is where we find sue. >> it is a big day to end the week. a big rally. it has been a wild week. bob is going to join us in just a second to give us the play by play on this wild week. first to dominic chu on signs of

why we may have hit a bottom. >> bob is going to tell you about the play by play. if you look at the trading range for the dow it has been a wild wide. the downward trend is still in tact but maybe finding signs of a bottom. if you look at ranges you look at where we started off at 16,600 we will call it up there all the way down to where we are right now. still a nice update today. if you look at where signs of a bottom are occurring take a look at small cap stocks. the 292 points on the first day. what is happening on the second day, 190 points. and then here at 276 and where we are right now you have to think that right now maybe some people are buying. the small cap stocks really are one of the signs you want to look for here. we have seen a nice move higher. that is this week positive, green on the week. take a look at one other sector that we want to keep a close eye

on here. energy stocks were lower and now look at what they have done in the past couple of days moving higher. energy stocks among the worst hit. could that signal that bargain hunters are stepping in. one sector to watch is the material stocks. they are up in the green. among hardest hit sectors, energy materials that is where some of the buying action has occurred. >> we are now up better than 300 points on the dow jones industrial average. >> you think the central bankers are calling each other? look at the s&p 500. it started early in the morning. one of the board members came out and started talking about the fact that they could be buying assets in a matter of days. that is news we didn't think would happen that fast. the chief economist at the bank of england said rates can stay

low longer than people might think. it kept going from there. more importantly i think two big industrials, both of them came out, not only did they do okay on the earnings front but did lower guidance. raised the guidance for the full year. this is a tremendous relief. people were afraid they would say the global economy is slowing down. didn't hear that at all. big moves up 10%. finally i want to know a couple of other things. we have been waiting for home builders to turn around. nice day here. 6% to 7% moves up. this is an oversold rally we are seeing. one thing i want to be cautious on is what is happening in energy. oil started up strongly and moving down throughout the morning while some of the expiration production companies are up a lot of other names have turned negative so trans ocean, some of the drillers, for example. i think there is worry about oil

drifting into the $70 range. >> thank you very much. come on in, guys. come on. thanks for joining us. appreciate it. >> is this the right configuration? >> this is good. you look fine. >> so with what we saw earlier this week, was that the blow off? was that the bottom? >> i don't think so yet. i think what is key today you have the russell threatening to go negative on the day. you don't want to see the s&p up 1.5% and the russell go negative today. you don't want to see commodities do a collapse out of nowhere at the end of the day. these are not positive signs. >> what do you want to see? >> i think it is better to not attempt this v shaped recovery, rally right back up to the major moving average and then fail. that would be crushing to confidence. the better thing that we can do and i have no say in this. this is just what i prefer to see would be a consolidation. there has been a ton of

technical damage done. i think stocks need to rest. i think volatility needs to calm down and then we sort out what got hit too hard and what didn't. >> i don't think we will see that all of the liquidations we saw on the opening which we rarely see clerks buying folks in that aggressively on an opening. that is exactly what we saw wednesday. it was buying in of the bond bears and the oil longs as well as liquidation after we broke through the 200 day on monday for the s&p 500. we had a lot of folks who overstayed their welcome and they got carried out feet first. that is a sign of a washout. to josh's point rather than a v shaped bottom i would like to see consolidation. people are finding bargains and buying today. >> thanks for sticking around, guys. we are working you guys hard this week. thank you so much. let's go to dominic for market flash. >> let's take a look at one other stock making news.

meade johnson nutrition up 12% soaring on a reuters report that france has the eye on the company as a possible takeover target. those shares up by about 12% as reuters reports that they may be looking at meade johnson as a possible takeover target. very volatile week and despite it all small caps had been until a faduation today. >> it works. >> it is actually up 2% this week rallying late yesterday. again, at least modestly today. morgan brennan tracking what is behind the gains. >> until today where we are seeing under performance in the russell 2000. looking at the larger week we are on track for the first weekly gain. that is enough to pull it out of correction territory and prompt several experts to become more

positive. adam parker wrote a note saying he thinks small caps could outperform large caps over the next 6 to 12 months. small company stocks are better valued after looking so expensive for so much of the year. he expects strong earnings growth for the group, low to mid teens versus current 8% consensus. he says it is due to the fact that small caps derive more than 80% on average of their sales from the u.s. meaning they are more insulated from foreign market turmoil and head winds associated with a stronger dollar. however, these are high beta, high momentum stocks. these are more sensitive to interest rate hikes, one reason why we have seen the sell off. credits small cap strategists continues to be wary and says the end of qe has triggered turbulence. the message here if you are looking at the small cap

companies be very picky and very stock specific. >> thank you very much. fed policymakers including the fed chair janet yellen speaking in boston. steve leaseman got an exclusive one-on-one about the next moves. >> that was with fed president just to be clear. we did go to try to get comment from janet yellen unsuccessful in that regard. we always try. i want to tell you a report that i am getting here. ubs saying his base case is that the fed will slow the taper. instead of doing 15 billion we are moving last remaining $15 billion of purchases that the fed is set to make going down to ten leaving five out there. that is not what i heard from the fed president. he says he sees the fed on track to end the quantitative easing despite market turmoil because

they need a big change in the outlook to change their plans to end qe and he doesn't expect that in just the next two weeks. the data is still supporting not changing anything despite the turmoil in the markets and since a 2015 rate hike and the the fed will make changes if the data changes but said they are following europe and the weakness over there. here is what he said. >> i would say financial markets have moved a little more than the economic data coming out of europe. that being said they are certainly having significant problems. their inflation rate is too low. unemployment rate in many european countries is too high. we are concerned about europe and should be concerned about europe. it does effect the u.s. economy. >> so there's a lot of talk about a qe 4, the fed stopping and starting it with other quantitative easing programs. we asked that directly and here is what he said about that. >> i don't expect that we will need to. if the economy got weak enough

that it was required we should do it. i certainly hope and i don't expect that would be the case but i can't rule anything out at this time. >> he is one of the doves on the committee and he does not see the fed hitting the 2% inflation target. what i'm hearing is that the new policy tools are guidance on rates, when it will hike and how steep those hikes will be when they happen. i don't they think -- the train has left the station in terms of getting out of the business right now. i think that is what they plan to do. one other thing which is all of the market volatility. the fed watches it but what he said is they care about what happens to the real economy. you saw this morning the numbers not a lot of spillover from the market turmoil. >> steve, thank you so much. great work as always. >> the market rallying in a big way after wild swings this week. is the bull market still intact or is it time to be a little cautious.

we welcome back katie nixon and head of global multi assets. welcome to both of you. katie, i start with you. you are kind of staying the course at this point despite what we saw earlier this week, right? >> absolutely, sue. it has been a real white knuckle ride. we have been counseling to expect volatility. we have been living in a world with low -- very long time. this may be the pause that refreshes. >> i think you are a little bit more concerned or cautious about the way things are looking right now, correct? >> that's the case. i would disagree with katie that it's still a bull market. i think what you have to do is take a nuance look. stocks can continue to go up. i think the tail wind for the stock side is going to be on the overseas markets going forward. they are much more attractive on a valuation basis. u.s. stocks are on the rich side

especially small cap. every time qe has ended since 2009 we have seen stock volatility telling us that the economic activity underneath all of this is still relatively weak despite the improvement that we have seen in the economy. the market had largely priced that into the u.s. side. so to us the more attractive side is outside the u.s. when it comes to stocks. >> the steadier of the emerging markets, correct? >> that's correct. emerging markets are very attractive on a relative value basis. so is europe. today's activity is telling you that any sign of any activity from a policy standpoint in europe has the spark to ignite the markets because they are so cheap. given our work and our approach to looking at valueuation that makes it a really compelling story. >> katie, you are not all that convinced about europe. you have been cautious on europe. you would prefer to stay here at

home, correct? >> we just downgraded our outlook for growth in europe. we think although fundamentals are strong sentiment is weak. they are integrating with other policy initiatives. >> where would you put money to work here at home? >> we are very positive on u.s. account equities. we understand it is average or slightly above average. we see very strong earnings and great numbers that came out that support these valuations and we think the central bank will remain very accommodative well past when most think the fed will raise rates. that provides solid foundation for u.s. equities. we also like high yield bonds here. they have had a selloff as we have talked about this week providing interesting risk adjusted returns in an environment of slow but good enough growth here in the u.s. >> thank you so much. thank you. good to see you again.

up to you. aside from ge and a number of other big names out with results. morgan stanley shares jumping. the firm blowing past estimates on the top and bottom lines trading and wealth management units boosting results there. honeywell beating estimates. the industrial giant raising the low end of the revenue and profit forecast. shares of urban outfitter -- honeywell higher today. shares of urban outfitters after the teen retailer warns about its sales outlook down about $4.75. last week we found out bernanke was having problems getting a mortgage. today we find out president obama is having problems with his credit card. nobody is immune these days. >> presidency is a tough job. if your credit card has been rejected you and president obama have something in common. the president earlier today was

out at an event and shared a story about something that happened to him in new york at manhattan hot spot for dinner with his wife and his credit card was rejected. >> i went to a restaurant in new york when i was at the general assembly and my credit card was rejected. it turned out i guess i don't use it enough. they thought there was fraud going on. fortunately michelle had hers. >> so tyler i guess the president doesn't have that much occasion to use his credit card on air force one or the white house. michelle obama according to the president has been using hers a little more often than he has. >> they know where to find him if there was a problem. >> you imagine he is good for the bill. what a week it has been. we love this kind of week. it has been a very interesting week. there is a lot to talk about and remains so today. wild swings on the dow.

triple digit gains and losses. you take what you get. there you see it now. oil tanked. crude fell below $80 a barrel. now back above 2.2. many saying they haven't seen a move like this in ages. so what should investors expect next week? strap on your seat belts, a big week coming up, lots of earnings, lots of data. what investors need to know now to position themselves for the week ahead. we hit commodities, bonds and getting back to stocks in two minutes. a party? hi. i'm new ensure active clear protein drink. clear huh? my nutritional standards are high. i'm not juice or fancy water. i've got 8 grams of protein. twist my lid! that's three times more than me. 17 vitamins and minerals. and zero fat! hmmmm. you bring a lot to the party! yay! new ensure active clear protein. 8 grams protein. zero fat. 17 vitamins and minerals.

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. back a big day for the dow near session highs boosted by strong earnings reports from the likes of morgan stanley, general electric and honeywell. leading higher are big names like american express, disney, general electric and boeing. we will see if it holds to the "closing bell." back over to you. hurricane gonzalo bearing down on bermuda. it is a powerful category 4 storm, nothing to joke about. winds of 130 miles per hour. the weather channel's carl parker tracking the storm. >> still looking at a very dangerous storm on the way for bermuda this afternoon and this evening. here is the latest from the national hurricane center, 125

miles per hour winds, that is a category 3 storm. we are seeing some degradation of the cloud on the south side indicating drier air is infiltrating that circulation to an extent. that could bring the strongest of winds down while expanding the area of strong winds which are just approaching bermuda. so by 7:00 tonight we are looking for that hurricane force wind to be solidly in bermuda. winds could gust much higher than that. we expect that to continue through the evening and then winding down by late tonight. a very hard hit for bermuda. in addition we are talking about wave heights on the order of 20 to 30 feet effecting the south side of the island in particular. thank you so much. appreciate it. check out the volatile week it has been. the dow trading down almost 1%. oil down about 3% and the yield on the ten year note down about

4.5% this week as yields dropped below 2%. where do we go from here? kenny pokari and bob iocnino nice to have you with us. kenny, i will start with you. josh brown earlier said they don't want to see this v recovery, that that is not a healthy sign for the market. >> it is certainly a knee jerk reaction considering the damage we had at the beginning of the week and the oversold position that the market was in. this bounceback may make everyone feel good. what you want to see is the market back off once again and test the lows and turn slowly and not the rapid advance. >> how would you trade this market today or would you? >> i think that you've got to be very careful and buy these dips and do it properly. one of the things i have been talking about is looking at percentage moves being very

careful and letting the market come to you whether it is 7% or 9.5% or 10% and then, of course, use that protective strategy which we have discussed always rolling down the puts. in a volatile time like this you have panic and fear which make volatility explode and that put protection makes more on the down side than you lose with your underlying stocks. that is something to keep in mind. >> weigh in on this and especially as we saw that ten year note that was the most disturbing part of the week for me is what that was telling us when we saw it go below 2%. >> it was not only the move itself but the speed of the move led you to believe that something else might be going on that might roil the markets further. i agree with jack. we bought s&p calls at down 7% and down 9%. we started scaling out of some of those calls today with this move up. whenever you have the kind of moves you have seen in the equities you see people holding on to losses waiting for a

chance to sell them back out. that is what we might see next week if we get poor economic moves. >> does the move worry you at all? it has a lot of people talking about deflation? >> i think the move to oil is overdone. we saw a rally yesterday and today it is flat maybe a little bit. i think oil is overdone. i am not that worried about it. >> how about you? >> i love it. i got to tell you. remember the kremlin had $117 budgeted for oil this year. who is our enemy out there? at $81 what is the rhetoric out of russia? it is the best thing. on top of that it is a tax break for all americans. >> jack is not worried about deflation. are you at all? >> i'm not. i have known jack a long time. here is the thing about crude. crude has more to go. crude will bottom out at about $75. it will form a bottom there and

probably start to inch its way back up. saudi arabia has russia in their sights. it is fashionable to try to hurt the russian economy about as fashionable of this well tailored vest i have on. you see crude go lower and base. every $10 lower that is sustained for a 12 month period it is plus 25 basis points to global gdp. it is almost a replacement for quantitative evening. >> we have to go, guys. >> bob wins the nobel prize. >> on that note everybody have a great weekend. president obama naming an ebola czar and secretary of state john kerry saying it will be an all hands on deck situation in the effort to contain the virus. the big question is, is the administration too late? should it have been more aggressive sooner? eight hospitals in new york state have been designated as ebola fighting centers. the head of infectious diseases

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takeover speculation and zilinx on strong earnings. president obama has appointed ron klain as ebola czar. he is a former chief of staff to two vice presidents, joe biden and al gore. he is general council of revolution which is an investment group. take a look at this. it is a british medical ship leaving today to help tackle the ebola crisis. the ship is carrying doctors, nurses, surgeons, royal marines, three murlynn helicopters and badly needed medical supplies to help fight that epidemic. the ap says the world health organization admits it botched attempts to stop the outbreak. an internal document shows everyone involved failed to notice potential. the w.h.o. says its own bureaucracy was a problem.

and a dallas health care worker on a caribbean cruise ship is being monitored for signs of ebola. our meg terrell joins me now. >> a big question in light of several missteps by the cdc and texas health presbyterian hospital is how prepared we are. stony brook hospital in long island is on the list and head of infectious diseases at stony brook is in charge of the task force there. thank you for joining us. >> thank you for having me. >> can you tell us some of the lessons that can be learned from dallas? what are you incorporating in your hospital after watching what happened there? >> i think the lessons we can learn is that we have to appropriately identify these patients and isolate these patients, that we have to be extra vigilant when we take care of the patients because they are highly infectious. we also learned from the cases

that we can successfully treat the patients. the hospitals are now putting plans in place how to take care of these very complex patients. >> one of the questions that arises is every hospital prepared to diagnose patients? if they are going to kpae of the 200 hospitals across new york state is every hospital prepared? do you think that they are? >> for stony brook i can tell you that we put in place a triage plan, how the patients are going to be triaged in the emergency rooms. we have incorporated in our plan to ask every patient their travel history and to make sure that patients who have been to areas that are affected are appropriately triaged and taking care of the patients bumped up to attending level. from there we decide whether the patients need to be isolated or whether the patients can be discharged or taken care of like

any other patient. other hospitals in new york, most have put plans in place and the department of health has been very active in trying to engage all hospitals in this process. >> so far thankfully in this country the incidences have been very, very few, but is the system ready and able to handle it if we go from three or four cases in this country to 300 or 400 or potentially more? >> i first of all don't think we will see 300 or 400 cases in this country. >> interesting. >> all states have now put in place and identified hospitals that will have the capability of isolating these patients and taking care of these complex patients. i think it is going to be key to triage them early on. the cdc has put in guidelines how we are to do this. and i expect that in the new

york area we would be probably the area that would be most affected because we have the highest percentage of people coming in from west africa. >> thinking about the first diagnosis here. we were supposed to be ready. can you pin point where we went wrong in texas? >> i think one of the problems in texas was probably that the patient was not appropriately triaged and that the questions were not asked the way they should have been asked. if this patient would have been identified earlier and would have been admitted earlier and isolated earlier i think some of the problems could have been avoided. we have to realize we are entering unchartered territory. we have to learn as we go along. >> do you have confidence in the cdc? and would you have confidence in your ability to treat an ebola patient? would you feel safe doing so?

>> i am absolutely confident that the cdc and all of the other agencies involved will put in place the appropriate guidelines and will revise them as we go along. i am also confident that we would be able to take care of this kind of patient and we have learned a lot in the last couple of weeks. we have learned how important it is to have the appropriate protective gear, how important it is when we put it on, how important it is to focus on training our health care providers to minimize the contact with these kinds of patients and to put in place logistic mechanisms how the hospital can deal with that. we at stony brook have identified rooms and triage protocols. and we are confident that we would be able to handle this patient. >> thank you very much. you have been really helpful. we appreciate your council today. meg, you, as well. good to have you back in the

building. now to dominic for a market flash. >> we are watching shares of hershey. the chocolate maker is saying its current cocoa stocks are high enough to prevent disruption in supplies well into 2015 thus playing down concerns that ebola in west africa will upset cocoa trade. hershey shares up about 0.7%. >> thank you very much. it has been a wild week for the metals markets, not just equities as the market gets ready to close we have gold down about $2.20. some of the biggest action has been in platinum and copper. right now we have negative in silver but copper, palladium and platinum showing gains. to the bond market. rick santelli is tracking the action. tgif. >> and i don't know if i would say influx. i think that fits in many cases.

i think wednesday was definitely the exact opposite of influx times 100. that was a get out of this position any way you can as fast as you can. of course, we are talking about the 186 touch on wednesday. look at a one day and two day. on the day up four basis points. this is definitely back into the type of range and style we had prior to the big liquidation trade. if you want to see what is going on if you look at boon yields they are virtually unchanged. if you look at the chart this is really important as the spread in arrows on valuations difference it will take a huge am06. sue, back to you and have a great weekend. >> i will pick it up there. sue, you have a great weekend. the dow, s&p 500 now on pace for the best day of the year. the industrials are up 247 points. they were higher earlier. s&p 500 up about 1%. october 19, 1987, r remembe

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welcome back to "power lunch." a big day for defense stocks. the majors, the lockheed martin all showing strong gains. you can see anywhere from 1% to 2%. home building stocks on the rise on the specter of lower interest rates or at least mortgage rates not rising. you can see all strongly to the upside. much like the rest of the market the semi conducters have had a very wild ride this week. what can we expect over the coming weeks? morgan brennan because she is not busy enough is paid by the story. what have you been watching? >> last week we saw the steep sell off in chips after microchip warned the industry is heading to correction. things are looking a little bit different. check out the stocks.

that is on track to end the week 2% to 3% higher. xilinx leading the way up on better sales to defense industries. advanced microdevices gaining despite earning miss. the exception, san disk reported better than expected profits on memory chips in iphones. its current quarter forecast is lower than estimates. that is what analysts are watching most closely is the forecast especially after microchips comments. decent growth -- quaalcomm because of smart phone growth. and raymond james says al tera which provides base stations for mobile apps could be a buy. as for earnings up next week.

we have texas instruments on monday and semi conducters on wednesday. i suspect we have more headlines on semi conducters. >> the incredibly productive morgan brennan thank you very much. >> indeed she is. let's get up to date on the markets. we have a strong advance for the dow jones industrial average. the s&p 500 is up 1.3% and the nasdaq is up 47 points. tgif to bob here at post nine with me. >> and yet the russell 2000 has turned negative. that is a little bit worrisome. >> josh brown is very worried about that. i want everybody to keep an eye on that. s&p 500 solidly positive. really this rally began overseas early on a lot of central bank discussions. we are at the highs for the day. i want to point out big oil. we had them beaten up rather

badly. oil has been trending downward and some of the big drillers around, they are all to the down side. a lot of people think this can be around a long time. $80 oil becomes tougher on capital expenditures, the big rigs that are out there. travel stocks rebounding a little bit today. airlines on the upside including cruise ships. retailers very weak. urban outfitters talking about they may have negative same store sales for the third quarter. teen retailers to the down side. >> stay with us because we are going to talk about an anniversary. sunday marks the 27th anniversary of the 1987 stock market crash. i curved it. art cashin experienced it first-hand. the largest one day market crash in history. the dow lost 22.6% of its value, $500 billion. that day is so burned into my memory, art. and it actually changed the way

that i look at the market fundamentally. tell me your recollection of black monday and what you were doing. >> i got up as usual at 4:00 in the morning and discovered markets were down about 10%. i rushed in and tried to contact -- i was running the floor. i contacted the staff to come in early we have to check out the systems. i ran up to get a quick cup of coffee and passed the chairman of the stock exchange. as i went back to the floor i put my hand across my chest and said the gladiaters salute we who are about to die salute you. >> it was unbelievable how fast things unfolded. >> as i say, before the opening you knew it would be horrific. when chicago opened and started running ahead and it turned into something surreal. it was like one of those slow motion movies. but what people forget very

readily is the next day was possibly more dangerous because after that great crash that you talked about markets opened up 200 points to a lot of cheers and then they rolled over. and when they went into negative territory you could hear an audible gasp. none of us knew at the time that the banks concerned about the crash were calling in lines of credit for dealers and specialists. when we needed capital to make a market -- >> they had to liquid ate. >> the important point here is the involvement of the federal reserve and finish the story of what happened. why did things stop at that point? >> tried to reach out to allen green who had just been appointed. he was flying so we couldn't get ahold of him. they called the president of the new york fed and he called around to the bankers and said reopen the lines of credit.

they got a lot of pushback. i have to worry about my stockholders. he said i am the new york fed. i will guarantee you against loss just open those lines. the lines of credit were open and the specialists came back and made the markets. >> there was a case of fed intervention i don't think a lot of people argue about. portfolio insurance to this day people argue about what the cause was of that. a lot of people pointed to portfolio insurance. >> no question about it. they had a theory that said since the futures market was thought to be so very liquid that instead of buying weakness you sold weakness. they sure did that day. >> i certainly will never forget it. thank you, art. thank you. >> a day seared into all of our memories. what else was happening in 1987? here is tell tales. the average price of gasoline was 1 a gallon.

oil was $7.50. the average new home cost about $127,000. the best performing stock was the steel maker and for the first time ever the dow broke 2,000 that year. and do you recall the number one movie at the box office? it was -- >> greed for lack of a better word is good. >> look at him there. indeed it was "wall street" michael douglas iconic performance as ruthless corporate raider. that was a slicef life in 1987. new numbers out on the health of the u.s. housing market. diana has that story. >> reporter: coming up next the housing number was in line but one other number deep inside that report begs the question, are banks taking risky bets on housing yet again? we will have it coming up. 24/7 it's just i'm a little reluctant to try new things.

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goldman sachs upgraded and increasing price target on the stock to $195 from $173. hyet hotels upgraded. the firm increasing price target on the stock to $68 from $65. zulily, the firm's price target is $45 a share. all righty. we will take a quick break here and come right back as we continue to monitor the markets on this very busy friday. the nasdaq up about 1%. the dow a little higher than that in percentage terms. there is the one week number for the nasdaq. ♪ music

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total housing starts rose 6.3% in september month to month up nearly 18% from a year ago. single family starts up 1.1% from august. multi family up 18.5%. for q 3 apartments at a 14 year high. look at permits which are an indicator of future construction up overall but single family permits down just under 1% and down for the third straight month. multi family up 7%. there is another incredible stat on apartments. the number of completed apartments in september hit a 24 year high. this as another report from the mortgage bankers showed lending to apartment developers last year hit a record $172.5 billion. and that is up 18% from 2012. this as lending to individual home buyers is down dramatically. are banks taking a big bet on a

possibly overheated apartment market? i talked to several analysts on the housing and banking side. so far they say they believe the nation is under housed and apartments are still full, rent is still rising, vacancies historically low. they claim there are regional red flags for those of you who want to see what those regions are you have to check out our piece on cnbc.com. thanks so much. the nasdaq is trying to erase losses for the week. we see the russell 2000 go negative. >> the highs the nasdaq composite was a hair above where it ended the week last week. we are off the highs and it is no thanks to the big caps, disappointing results from the likes of google are weighing and san disk. netflix coming back. netflix has been a huge loser after that disappointment.

we will see what apple brings. apple also a loser this week. the big caps are down over 1% for the week. the small caps have been the big gainers but today definitely under performing despite the likes of q logic which is gaining on strong earnings. back to you, sue. let's see what is coming up on "street signs." >> what a week it has been and only two hours to go before the close of trade. we will be watching all of the market moves and hear what athena health has to say on the topic of ebola. we will be talking to the ceo. we have our standout stocks of the week. make sure you join us top of the hour. the name of the game is "street signs." "power lunch" returns after the break.

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>> i thought the segment on the october 19, 1987 was amazing because it was a friday before where that sell off really began. that will do it for "power lunch." >> "street signs" begins now. > . wild end to a wild week. stocks are soaring. gas prices are falling and we have one of the more surprisingly positive headlines that you will hear all week. we will tell you what that is coming up. even with today's roll back the three indexes are on track for their fourth straight weekly decline. let's get to our market reporters, rick santelli in chicago. bob, you tweeted out that the doves are