so in the oil market we did see prices come off of their worse levels of the trading day but down better than 2% on west texas intermediate. it will be an interesting close. >> and lots of questions about what the true impact of falling oil prices will be. that will do it for this edition of "power lunch." . >> "street signs" starts now. see you tomorrow. and welcome to a very special "street signs" where we are all over this historic energy slide. right now crude oil is sitting near a four-year low and pump prices are holding below $3 a gallon and 30 minutes away from the close of oil trading. we will be picking apart every aspect of the crude collapse to find out what it means to you and your money. first of all, brian sullivan is on assignment so i am happy to have john fortt and steve

liesman. oil prices are currently bouncing off the low of the day. everyone is asking how much lower it can go. >> reporter: as you said, we are bouncing off the lows. wti down $1.50. some traders calling for a $5 price decline today. let me walk you through the action. it started with the saudi price cut. a lot of traders saying that is installing they would rather have a price war than supply cut war on their hands. we are watching the meeting on november 27. people seeing we could see a supply cut probably not going to get it. we have outlying members who do want to see supply cuts to the market. the middle eastern countries probably going to have more influence. this is very technical. we broke through key levels. $77.50 which we can't really get

back to right now and the selling increased. the next stop probably $73 going to come when we see the stronger dollar continue. some saying we could see a $90 handle on the index within the coming weeks. we need to watch it closely. this is becoming a crowded trade to the short side when traders start to get nervous because last minute shorts that pile on, they are the first to cover when things get tense. we could see a bit of a pop. one trader telling me he expects to see oil at the $65 level. the pop before we get there. a lot of action, we are following it closely. >> thank you very much. a big part of the reason why oil prices moving lower here in the united states is because of what is happening abroad specifically saudi arabia. michelle caruso-cabrera joins us with that angle. we can't really put all of the blame on the saudis, can we?

>> no, but a lot of it. talking about the willingness to tolerate lower price levels to the united states. the big question, why? is it economic? or is it geo political? we are cable tv. we put saudi arabia in the center with oil barrels going in two different directions towards the kroouunited states and russ there is so much new production coming out of the united states but much more expensive to produce oil in the united states. if the saudis can push prices lower it means future projection comes off line and future competition will go lower. we have added russia, as well. the u.s. and russia involved in a deal to settle with ran ran on the nuclear issue and we know the saudis don't like that. that would be geo political

theory on wall street. there is collateral damage. venezuela wants higher oil prices. so does brazil. what they are producing is something like $80 per barrel. everything becomes very unprofitable. when you look at the break even price of oil. there is always a range. when you look at the united states and north america, generally speaking much more expensive than what it costs in the middle east between $40 to $100 a barrel. when you look at saudi arabia, a lot of their oil costs less than $10 per barrel. they can tolerate a lot more pain on the production side. not necessarily on their budget side. a lot of the countries running deficits. when it comes to production the saudis have the world's competitive advantage. back to you. >> i think aaa said something like a quarter billion worth of effective stimulus is going into

u.s. consumer's pockets. is there some level where if the oil prices fall far enough the economic impact on oil producing companies or states is actually bad and how close are we to that? >> the core question, it used to be universally good when gas prices and oil prices went down for the united states because we weren't big producers. now we are one of the biggest producers in the world. we have seen an increase in 5 million barrels. when do we start to lose jobs in the oil producing areas in the country? it starts about here. it has to go to 50 before you see a sharp decline in future production. >> thank you very much for that, michelle caruso-cabrera. this is a pretty big deal for the economy. all of that money in our pocket. >> low oil prices despite how much we produce still a net benefit for the united states. we use more oil than we produce. paying less helps the economy and consumers.

john was talking about the wind fall. economy estimates half point gdp depending on how far it falls and how long it stays around. it is also a down side as oil prices fall to a level that reduces investment and jobs. from '07 to 2012 u.s. added 161,000 energy jobs mostly in support. there is the math on the bottom. drilling is plus 6,000. notice not a lot of increase in drilling because of high efficiency wells, new technology. you need it in the extraction part and especially in the support services. that is only through 2012. some states have a lot more to lose than others. here is a state by state percent of total state. u.s. not so much. texas not ozmuch as you think. then north dakota, west

virginia. alaska is pretty high but falling. it is absolutely surging critical to the wyoming state economy. $75 a barrel we are nearing a level where some of the most expensive u.s. production will be hurt. that won't mean wells are shuttered. new expensive wells won't be opened up. the cost will be in new. probably not in existing jobs. those will be offset by the overall benefit. >> still a net positive. there are also a couple of pieces of economic data. factory orders dropped and the u.s. trade deficit widening. how does all of that feed in? >> right now oil is not feeding in except a little bit in trade. what happened is gdp for the third quarter got whacked. we printed this number of 3.5 because of something else that happened monday. add in the deficit and now down

to 3.1. still a decent number. fourth quarter running at 2.8. we will take it. it's still above the recent lackluster but not as good as the quarter. >> we really don't have a choice. >> enjoy the gdp. it is the only you got. >> is this a game of oil production chicken with the saudis? >> it is. i to me the oil explanation is the one that was the most. they want to see, push us to the limit here. it will force us to be more productive and competitive. at some level these oil wells don't make sense and the saudis have an interest in keeping market share. they have a budget deficit that is key to very high oil prices. some of the countries that is all they do. russia 68% of exports are oil.

>> it's all preserving market share. thank you very much. who are some of the winners and loseers in this energy slide? dominic chu, you have been looking at this in great detail. >> with crude oil prices down about 30% since the june peaks we are in what we call a bear market. certain parts of the energy sector have taken it a lot worse than others. the exploration and production, the ones that hunt for extract oil out of the ground these stocks like apache, qep resources. then oilfield services companies hit very hard. these are the ones that provide products and contract services to those exploration and production companies. names like schlumberger, halliburton. as for the worst performers overall in energy take a look at companies that are actually paid to drill for the oil itself, names like trans ocean, neighbors industries, they have

taken the biggest beatings. as for some of the ones who have outperformed on a relative basis refining kaechs like phillips. they have done better than others in the overall sector. as oil prices come down so do their costs to turn crude into things like gasoline. the mega cap integrated oil companies, exxon mobil, chevron. they handle all the way down to turning it into gasoline. if you are looking for a place to hide in energy a lot of investors have turned to big names like exxon and chevron in this trade. >> thank you very much, dominic chu. energy is playing a really big role in other big stories today like the elections, oil, fracking and the keystone pipeline are all at play. later on boon pickens says big

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happy election day, america. there are some key races that could have a huge impact on the future of energy in america. let's bring in john harwood. what races are we watching? >> ten senate races that determine whether republicans or democrat control senate of last two years of president obama's term. most in states that mitt romney carried in 2012. most of them states that democrats have incumbents and stand to trail in the polls and stand to lose the election. here are the stakes if republicans are able to flip the senate you have issues like the keystone pipeline more likely to go through.

you have the epa regulations on carbon emissions. you see republicans try to stop that. you have questions of tax reform and what happens to energy taxes. all of those things are on the table and could switch if you have republican control. >> what do you think the impact is, if any, of lower gas prices right before the election? some people think low gas prices, that makes people happy. does that give some kind of a benefit to democrats? you certainly don't hear them talking about it right now? >> voters are very angry towards washington. two out of three people say the country is on the wrong track. president obama's ratings are down. this is not coming as late in the cycle as this is, this is not something that is fundamental enough to change the public mood. everybody is happy to have it but i don't think it will make much difference. >> let's bring in a couple of other voices. we have keith boykin and robert

strainham. thank you very much for your time. keith, are you surprised that maybe democrats aren't talking about those low gas prices as much as you would normally expect considering it is a great thing for consumers and make people feel good. >> am a little surprised. that is something democrats should be talk about. nor are they talking about the fact that more people have health insurance. they shouldn't be running away from the president. this is a typical pattern in a six-year mid term election. usually the president's party loses about seven seats in the senate and 37 seats in the

house. so we don't see any reason to think this is different this year. >> this comes at a critical time, though, we were just talking about the impact on energy going forward. i guess we can assume based on numbers that republicans are going to win the senate. what happens to keystone pipeline? what is the message to people wondering where gas prices go from here? >> i think the main reason why gas prices are not a number one issue is because when you take a look they are fairly low at $2.93 on average. when you take a look at polling data it is just not the number one issue. to your question i think the question will pivot on keystone. i think it will be approved. if you look at it his natural constituency is for this. republicans are for this. according to the president's own department of state 45,000 temporary construction jobs, 45,000 construction jobs between now and 2020 once the the pipeline is built.

you are talking about a major infusion of money into the national economy. it does nothing but help. i think the president is probably going to soften his language on keystone pipeline and probably get passed sometime next year. >> i want to pick up on a theme that john fortt was talking about. if i was going to write a script for this election, gasoline below $3. 200,000 jobs created in each of the past six months. gdp above 3.5%. that is a skricript i would wans a president. is there a single reason you can point to why it hasn't resonated almost at all with the population? >> the biggest reason i would suggest is the nature in which benefits flow disproportionately towards people at the top. you are not seeing incomes of ordinary families rise so they don't think the economy is working for them.

we have proven an economy that delivers gains to people at the top. we haven't proven in the last decade or two raised since the clinton administration raised incomes broadly speaking. >> how much is the messenger to blame? you said democrats are not talking about these things which i find kind of astonishing. >> part of the issue is that people aren't seeing the results on a regular basis on the average person's level, but they should be if the democrats would talk about it more. the president has been but the surrogates haven't been talking about these issues. not only are we seeing what is going on on the economic level and national perspective. yo ahave the stock market which has doubled since president obama has taken office. 17,000 for the dow right now. these are points that democrats should be talking about. the problem, though, is that the republicans have been much better at messages when talked about isis and ebola and the fear based campaigns that have

really resonated and then a demographic problem, if you look at the states holding the votes today, 165 electoral votes went to mitt romney and only 130 went to barack obama. so in those states mitt romney won the election. that's the problem. >> thank you very much to all of you. thank you. great conversation. planes, trains and automobiles. how the energy selloff is impacting each of those things. plus, we are only a few minutes away from the final oil trades. we'll see where crude settles when "street signs" returns. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya.

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welcome back to "street signs." we have a huge interview on tap for you tomorrow. johnson & johnson ceo is going to be joining us live here on "street signs." it is an interview you can't afford to miss happening tomorrow here on cnbc. the crude collapse is having a big impact on trains, planes

and automobiles. phil lebeau and morgan brennan are here. phil, kick us off with the planes and the autos. >> in 23 states in this country the average price for a gallon of gas is less than $3. the national archlstional avera under $3 a gallon now selling on average in the u.s. at $2.97 a gallon. when you have gas that low it means it is tough to sell hybri hybrids. 78% over the last couple of years. shifting demand is what we are talking about here. when you talk about hybrids the prius generates 55% of the sales in the market. this year prius sales are down 11.6%. by comparison, look at the jeep

grand cherokee. this year jeep sales up 5.8%. that in a nut shell is what is going on with autos when it comes to shifting prices for oil. when you talk about airlines look at the shares of southwest airlines. love shares today hit an all-time high. they more than doubled in the last year because when you look at southwest, really any of the airlines, jet fuel is single largest expense. because it keeps falling and oil keeps falling that means the benefit will be in the bottom line for not only southwest but all of the carriers. they are having a great year. one of the most profitable ever. >> are they raking in the fees, as well. thank you very much. let's bring in morgan brennan. how is the crude collapse impacting the rails? >> crude plays a big role in two ways. crude by rail is the fastest growing business for railroad

operators increased more than 2,000% and commodity kounaccoun for 9%. if growth begins to slow citi analyst estimates that could shave off 2% to 3%. canadian pacific and csx. softer crude volumes could be something that offset by lower diesel prices. diesel is the second biggest cost item for railroads behind labor. diesel below $3 a gallon could provide a notable. one that could be -- ups and fed ex both up today. those two companies coming into the busiest shipping season. lastly, another industry to watch as crude falls, solar stocks, names like first solar, solar city and sun power. these have moved in tandem with

crude on assumption lower prices will tamp down demand for solar. analysts note that this has been more of a psychological correlation that solar is more closely tied to electricity so coal and natural gas are competitors there. we are moments away from crude settling for the day. we will head live for the close.

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comcast business. built for business. for the final oil trades for the day let's get for the crude close. >> actually oil pairing some of the losses down about $1.65 at the close here, over $77 a barrel. remember this morning the selling pressure was pretty stiff on oil. we had a low of $75.84. you had technical buying moving us back up. you will see shorts cover and people buy on the technicals but that doesn't mean that oil prices are not going lower from here. the major reason the strength in

the u.s. dollar. remember oil is priced in dollars and makes it more expensive when the dollar rises for traders to buy it in other currencies. that is why a lot of pressure has been seen of late. a lot of people expecting the dollar index to increase. this is good news for consumers. you guys have been discussing it. gas prices under $3. national average $2.97. a lot of money will go back into the economy. the traders on the floor saying those who are saying that oil prices are driving the equity markets could be mistaken because with prices lower it is good news for the u.s. economy and therefore equities. >> let's bring in boone pickens joining us on the cnbc news line. you really got our attention today when you said oil companies need to stop drilling for oil. explain this. >> well, let's go back three years ago that you had 1,400

rigs running on natural gas. what happened? we overdrilled, supply was too great and now we have a very, very low price for natural gas. so the rig switched over and now there are 1,500 of them drilling for oil. 400 for natural gas and guess what, we have -- we are the only growing oil supply in the world. the united states, can you im imagine that? it has a nice ring to it. we have a lot of resources in america. when we are called on to produce them, we do that. but, we have overdrilled the oil, too. we are the ones that have kind of gotten ourselves in the spot. so you are going to see we need to slow down on drilling in the united states. >> who is going to blink first? no one wants to be the first to stop doing that. >> i know they don't want to. >> you have west texas today.

wti $77 and change. and west texas crude i'm talking about in west texas, not west texas intermediate, it is 72, 73. so we are feeling the pain right now. when you feel the pain you will cut your cap x and the drilling will slow down. >> isn't that the whole game? isn't that what the saudis want? they want us to stop drilling. are you saying we should just do what they want in that situation? >> i don't think that is their strategy at all. they don't want to cut the price. they say they need $90 a barrel to meet their social commitments and all other issues in saudi arabia. you have venezuela over there. and the saudis are going to go

visit them next week. no, i think what is going to happen is saudis are going to try to force nigeria, angola to cut back their production and everybody will struggle with it. you are getting ready to have a huge -- october you caught the lowest month on demand of the year. and november/december months have high demand. so you are going to get a real demand for oil coming up. and the saudis will try to get some of the opec members to cut their production. we'll see what happens. and but you may -- you could hit the low point in the first quarter of next year. then i think you start to recover. you will look pretty good. >> how does all of this work with natural gas?

i know you are a big advocate of switching over the truck fleet to natural gas. how do we get there if we keep having low oil prices here? >> well, it's going to shut in a lot of the natural gas. natural gas has not gotten much of the transportation fuel market. they're still a long way from that. i think natural gas and oil are somewhat decoupled. right now natural gas demand is increasing because industries are using more natural gas because they are so cheap. remember you have a six to one ratio on parity. so $100 oil is $16 natural gas. >> you are losing incentive to change over if you have the low oil prices? >> i see what you mean. i heard somebody say that it wouldn't effect them and this was a big user said until it got

below $70. and then so it is such a huge difference price of oil and diesel -- excuse me, natural gas and diesel that natural gas is about half the price of diesel. so there is still a lot of room in there to use the natural gas. we will see if that is what happens. >> always a pleasure to have you on the show. thank you very much. the legendary oil man. oil isn't the only thing hovering near four year low. gold is, as well. let's start talking numbers on gold. mark newton on the technicals. david sieberg on the fundamentals. mark, where do you think gold is going from here? >> i think it is early to get too bullish on gold. it looks like it has 4% to 6% to go on the down side before we put a meaningful low in.

look at a couple of different charts and one is a daily chart that shows recent lows being violated. this is a pretty serious structural violation. sentiments turn a little more bearish. in general the structural decline overweighs any of that and it is suggested it goes lower. if you look at the second chart, a weekly chart this shows the entire move up from the late 90s. i do think gold is in the latter stages of this decline from 2011. it is getting close but i think it hits the 50% retracement level of this entire bull rally into 2011 which would put it down between 1080 and 1111. it still looks a little early to be buying dips just yet. >> do you agree with that from the fundamental side, david? >> i look long term. i think it is hard to make a clear fundamental case in why

you should be long gold. i don't think fundamentally the back drop is that strong. you have weak demand out of india and china. you have the dollar. you have deflationary fears. i think near term there could be a trade here. i think the dollar trades relatively crowded. i think sentiment is negative on gold. at the 1165 level i will let the central banks fight it out as far as direction of inflation. i think ultimately from a near term perspective like every other asset class when things get overblown you can see a move. i think we see a move up here. i think if we trade up you will see short covering. i think near term you have a trade here of being long gold. long term i don't see the fundamental outlook or the fundamental back drop to support it to bring it to much higher levels. >> big difference between the

trade and investment phases. you can check out the online edition of "talking numbers". our special focus on this historic oil move continues. we have the former gulf oil ceo who will tell us if he thinks we hit a bottom on oil and we head to the front lines of the u.s. economy. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops, tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so if you get a trade idea, schwab can help you take it on. tdd# 1-800-345-2550 we're getting a lot of questions tdd# 1-800-345-2550 about organic food stocks. tdd# 1-800-345-2550 [ male announcer ] sharpen your instincts tdd# 1-800-345-2550 with in-depth analysis by schwab experts. tdd# 1-800-345-2550 and if you want to run your idea tdd# 1-800-345-2550 by a schwab trading specialist, tdd# 1-800-345-2550 our expertise is just a tap away. tdd# 1-800-345-2550 what's on your mind, lisa? tdd# 1-800-345-2550 i'd like to talk about a trade idea. tdd# 1-800-345-2550 let's hear it. tdd# 1-800-345-2550 [ male announcer ] see how schwab can help tdd# 1-800-345-2550 light a way forward.

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take a look at the dollar here. $86.98. . call it $87. the dollar a little weaker today. as high as 87 this morning. questions about whether the european central bank have a contentious meeting this week with questions about some bankers having questions about the leadership of european central bank president. >> who would be a contender? >> i don't think they will replace him. it sounds like there are problems with his leadership style and they were going to tell that to him. the price of crude oil continues to slide, have we hit

bottom or can we expect the down fall to continue? let's ask the former ceo of gulf oil, a very simple question, where is the bottom? you have a lot of experience in this department. what do you think? >> well, i think you are going to see ti trade in the low 60s. i think brent is probably low 70s. that will bring gasoline down to nationwide price under $2.50 by the end of the year. let's go through the components. crude component about $1.50 of gasoline. we have about 20 cents in refining margins. 30 cents in distribution which i think over the long term if we build the pipe lines that we need we will actually see that price come down. and another 20 to 30 cents is in wholesaling and retailing. and one of the things that i think we are forgetting is the price of finding oil is dropping

faster and extracting than the price of oil. we have a ways to go. i think we are probably going to see national average price at $2.50 a gallon. >> what is it, then, that makes the price go up from there? the saudis decide it has gone down far enough or the u.s. takes production off line? new production doesn't ramp it up because prices have gotten so low or is it emerging markets rebounding? >> i ink the eventually we will export oil and lift the ban after this election cycle on oil. i don't know. i don't think -- the saudis at $70 by increasing production to 10 million a day which if i were running the saudis i would do would balance their budget. they may want $90 oil but i want

to look like brad pitt, neither of us will be satisfied. they are going to have to live with $70 oil. >> where does it settle out? where do you think is the bottom here? what is the impact on the united states in terms of oil production? >> well, the united states oil production is up about 5 million barrels a day if you look at natural gas equivalents. we are on the cusp of switching our transport especially on the truck side to natural gas. the savings there are incredible because today if you can do a cng or lng truck you can get equivalent of $2 a gallon versus $3 for diesel. the average class 7 and 8 trucks use about 30,000 gallons a year. you are talking an incredible amount of savings, 50,000 to

$70,000 per truck per year in our fleet. i wish it were faster. i would like to see a lot more transportation of natural gas as transport fuel. it takes time. remember, we are also seeing toyota and hyundai about to introduce hydrogen cars this fall which are made from natural gas feed stock and that will come into demand. i think gasoline demand in three years will be under 90 billion gallons a year when it was well over and diesel demand at 30 billion. that's down significantly from 2008. >> look at you i see a lot of the brad pitt resemblance. >> i was going to say he has something better than brad pitt. he can predict oil prices.

>> he can give an answer. i don't know how much it would be worth. >> just how much does cheaper oil and gas, which camera is it? >> here in the middle. >> how much does cheaper gas and heating oil spark hiring and small business expansion? we are heading to the front lines to speak with our small business round table.

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reliably fast internet starts at $89.95 a month. comcast business. built for business. sub $3 gasoline are you small businesses. >> gasoline below $3 would give small businesses a much needed boost in confidence heading into the all important holiday retail season. why the index of the national federation of independent business five points below the prerecession index is an increase in hiring and wages. small businesses added about 15,000 jobs in the month. biggest increase since june. extra money also means a potential boost in wages for workers and maybe even

expansion. we have adp data out tomorrow and then jobs report friday to look forward to. along with october's nfib optimism index out next week to see if the low prices in the fall helped the outlook in optimism. back the you. >> thank you very much. we're joined by two small business owners. president and ceo based in reno, nevada and larry moker runs a plant of air power systems in tulsa, oklahoma. to both of you, welcome back. great to get the real view of what's going on at the coal face spo sort to speak. joe, as a food manufacturer, you send your candy around the nation. i'm sure you use a lot of fuel. how's the lower gas prices impacting as you a? >> mandy, good afternoon from sweet nevada. it affects us in every way. it goes all the way back to the farm. it goes back to planting the seeds. and what we find is that if for

us as a manufacturer we're having to bring products in to nevada, we're having to truck them in. we have to -- we manufacture our candy products and ship them all across the united states. and the shipping costs in some cases are up to 20% of the value of the commodity that we make. so i think that with lower -- if lower gas prices continue and energy prices continue, it will be a win-win for us, our employees, customers and the consumers. >> want to get to larry, but first, joe, a question for you on demand. if anything, i guess as an adult half to buy the candy, do you see an impact of lower gas prices of people having more to spend on candy? >> you know, i look at it as with the employees. if you think if you drive 15 miles a day to work, and over a year's time at their old gas prices close to $4, cost you about $1,500 a year.

now with gas prices getting close to $3, you know, you are looking at about $1,000 a year. think the extra $500, candy is an affordable treat and more money in the pocket and do things with it. >> steve, did you want a question? should i jump in? larry, what impact are you seeing on your business from lower energy prices? >> well, good afternoon from the entrepreneurial center of the united states. first of all, we are not seeing a negative effect. we kind of expected to. probably if it continues we will. but our sales tend to be more related to the rig count rather than the price of oil. so at this point, we're just like kim. our employees, virtually everybody is enjoying the lower price of fuel. >> larry, i was amazed at looking at some of the data how incredibly efficient and productive this oil boom has

been in the united states and not required really a whole lot of rigs to get all this new oil out. so i'm just wondering if there wasn't a lot of upside in terms of total employment and not a lot of downside in terms of jobs lost with lower oil prices. >> that's what we're hoping for. one of the nice things of many in oklahoma is that we're very innovative and very entremend s entrepreneurial and things are always changing. in the oil or manufacturing industry and we're small enough as a small business person to be flexible and to be able to change with the markets and in many cases we lead that change. >> larry, you are out there in nevada. you see your workers every day. and there's lots of talk about the economy, people underemployed. are you hiring? how do you feel about this economy overall, especially as we head into election day? well, we are here now. >> you said, larry, but then you

said nevada i'm sorry. joe, you are in nevada. >> okay. i hope i am, at least today. you know, i think it equates for us as it's positive. i think that, you know, we are doing a little bit of hiring and a little bit of expansionary growth because i feel that the economy and the election, i think things are going to get better. my god, could they get worse over six or seven years? so i'm thinking as we move forward, you know, i'm a bit optimistic. i have always been an optimist and looking at the future and looking at things logically, the lower gas price, lower energy cost equates to people in money's pockets and takes a little bit of pressure and edge off the consumer, you know, that everything's just not going through the roof and wages and jobs are lacking. you know? one thing about nevada is that was hurt by the recession and we're finally starting to grow out of it. we have got companies like tesla

coming in and going to put jobs on the table. more people equate to more business which equates to more of everything. so i'm really optimistic for when's coming in the future. >> that's what we need. optimistic small business owners to do the bulk of our creating of jobs. right? joe and larry, thank you very much for joining us and telling your story. we have yet another very special edition of "street signs" coming up because tomorrow you have to stay with us to find out why tomorrow is so special. you can bring back a lot of things

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we have a huge show on tap for you tomorrow. first, "street signs" broadcasting live from gfr for the schwab impact conference. brian is right there right now and has what power lineup for you and there's an interview of johnson & johnson ceo here at 2:00 p.m. eastern. let's take a look at the markets there. you have the s&p just slightly to the downside. the dow is positive, right? >> yeah. certainly has. and quite a few stocks just in general doing well. i'm looking at tech, of course. groupon up almost 7% for the day. alibaba after the earnings report still up near 3% near the highs. >> first as a public company. >> absolutely. >> yeah. and you got the dow transports with an intraday record high.

so steve, jon, thank you for joining us. thank you for watching. "closing bell" is coming up next. welcome to "the closing bell." i'm kelly evans at new york stock exchange. >> i'm bill griffith. we will have more on the oil story and midterm elections and how they intersect. gasoline prices below $3 a gallon in parts of the country. unemployment nationally below 6%. the economy growing at a respectable pace and democrats expected to lose power in the senate tonight. why the economic diskent in this election? >> we do have several special guests coming up for this election day, including afl-cio head and two key congressmen. tom price and kiss van hollen. that's all