>> england -- home prices are falling and the bigger question, that we'll without question come back to time and again now is china heading for a hard landing. the data again was weaker out of china. the chinese seem unwilling at this stage to boost their economy by even cutting interest rates. >> and iron ore are down more than 40% all this year setting up for another year where the u.s. is outperforming. >> let's get to the nymex and jackie. >> the department of energy out with its report on crude stocks last week. a draw down of 1.7 million barrels. watching prices in the high 75 range. pretty much staying flat on this number. even though we're seeing a draw down, it is because traders are seeing overall supplies are well stocked and u.s. is in good shape in terms of the output now. the saudi oil minister saying

the markets are misunderstanding this concept of a price war. but traders are saying until opec takes action to reduce supply they are going to call ate the price war. and that is driving prices lower. wti at lowest levels since october. and brent prices, 78.95. traders telling me expect the prices to go lower and in fact they are now. wti is down 1.80 at this point. back to you carl and the start of "squawk alley." >> jackie, thank you. it is 8:00 a.m. at dream works. 11:00 a.m. on wall street. "squawk alley" is live.

>> the transformers theme from the 80s on this morning. the dow is up almost 80. russell not playing along as much as it has been in the past. henry blodget this morning. kayla tausche, jon fortt has the morning off. speaking of the transformers, the brand and shrek may be under one roof. advanced talks to buy dream works. though an exact price is not yet determined. shares rallying on that news. jeff catsen berger reportedly seeking more than 40 dollars a share for the company. a lot of questions about what this means from a business model

standpoint and relationship with disney standpoint. >> yeah, not only disney but there are questions about who exactly has bro is trying to emulate with this? disney? nickelodeon? lego. three more movies partnering with the warner brothers on that front. interesting to see the stock only rally about 20%. yes that is a big rally but catsen burg in some reports looking for at least 30 or 35 a share. but you know why that's important? because the 52 week high for dream works, 36.01. you never want to sell for below a 52 week high. but the fact they aren't even getting a three handle on this news does make you wonder whether they can achieve it that. >> it is a terrible high. and has bro is getting hammered t as it should be. the idea you can make toys and

buy a movie studio that is already struggling. he's obviously trying to sell it and get out. you can buy that and say we have cool toys. now we're going to make great movies. so much easier said than done. so the market is getting this right. and it is not surprising. people look and say okay, somebody is going to come to their senses here. >> and you won't dispute, dream works is now in play. if it's not hasbro it might be somebody else. >> they have been trying to sell it for a long time. and now they have apparently found someone whose listening. but just a terrible idea. really think about it. you make toys and now you are going to shove those toys into movies. who super creative in hollywood wants to work at the studio where you get toys shoved down your throat. >> intellectual property. >> then take it and license it to whichever studio has the best ideas and is going to pay you the most for it.

you don't have to own them. >> has bro has its own issues. dream works, i've been chasing down m and a's on them. the question is always is there a buyer. and then people are saying is pawtucket, rhode island really the next hollywood? >> no. this is another problem. >> and interesting in has bro in core business had been showi ii real traction relative to matel. >> they are great at making toys. >> twitter announced a host of new updates yesterday. up loading more videos and a while you are away feature. investors liked what they heard. the stock finished up about 7 1/2 percent. even cramer who's been really

harsh said he liked the story. he liked just hearing from anthony noto in a more leadership position. >> it was better. and the fact they laid out the metrics. and you have to hand to it anthony noto, a ten year forecast with a huge number at the end of it. just hypothetical. it is no at forecast but 14 billion in ten years. that is where we're headed. to me the point is even if you believe it. it's good scenario and they laid out a lot of metrics to back it up. go forward and discount it. you get to kind of around here. and this is the problem with twitter. the company is clearly so frustrated they are not getting a the facebook valuation. so far they feel disrespected and so forth. they have a good valuation. they are growing nicely. if they do what they say they are going to do now on the product side that is all good. maybe they can get to 14 billion in which case it is a nice investment here. it doesn't mean it has to trade there tomorrow. >> but they seem to be take, a page off facebook's playbook by

talking about other products they can leverage. vine got a lot of real estate yesterday. how far do you think they are from having investors believe that argument that they can bailed the variable portfolio of products that is maybe not just the twitter news feed. >> great and that will help them get to the 14 billion they have now established even though it is only hypothetical. >> and to be fair, other companies have done it. companiies owned by bezos. >> the forecast is reasonable. they laid out a good scenario. most companies just throw out a number. and here you have metrics and we're going to users to this level and the still this assumption they are going start coining money on people who happen to see tweets. i don't believe it yet. but all the product innovation sounds good. my point is the stock is fairly valued right now. it doesn't have to suddenly jump

to 70. >> do you think questions about management turnover and user growth were sufficiently answered? the near term questions yesterday? >> there is no way to answer them other than can we keep a product guy for more than a few months now and do what we say we're going to do. and can people stop leaving every, seemingly, week. just settle down and execute. >> surprisingly very few are shorting the stock. normally when we see a stock loose as much ground and have a spike in one day t first thing you look at is short interest. only 5% are borrowed right now. that leads you to believe there aren't that many betting against twitter. >> by the way, finally shares of the cisco slipping through even though earnings and revenue topped estimates. revenue forecast for the current o quarter was below expectations. ceo joined us in a first on cnbc

interview early this morning. listen to this. >> if you look, we have a number of tail winds. our switching is back and growing well. our data center growth is good. wireless is good. digitalization of countries and businesses and cities is going well. two head woinds. if either comes back in 2015 that will help growth a lot and we're extremely well positioned for both. >> one of the big comments was going back to title 2 and idea of the net neutrality would be a big mistake for the country. they have an interest in keeping that investment going. but he minced no words in attacking the white house's point of view. >> talking his book very clearly. speaking on behalf of his clients. but it should be said, even ex that, clients are slowing spending on the capital expenditures. and people hate the idea of any

regulation. but there is a lot to support that broad band should have always been under title two and we're now going back to what makes more sense. understand why the industry is lobbying. >> you agree? >> it is incredibly complicated. regulatory issues on the both side. what's going on now is scary. netflix okay you can pay us more. so that's scary. but the idea of title two, they are tele com companies. even lot of conservatives who actually really understand the issue will get in there and say we don't like either of these but title two is the less worse. >> chambers is also critical of the tax policy. >> always. >> he says look we're going to keep the bulk of our money abroad and not just that wore not going the repatriot it. we're going to grow in those

regions. while he was upbeat on europe, china slowing 12%. he's bearish on emerging markets and are they really growing where their cash is? >> it's dead right at tax policy. we have to do something to make our tax policy make sense in a global world with global corporations. not sure the answer is john you get a free holiday, bring it all home. but clearly there are pockets of the world where there business isn't going so well. >> he has lat of cash. almost feels like the business over the years henry has grown into the stock price it was once awarded back in the day. >> right. and the real challenge here is they are huge and the market is shifting. we're going away from the incredibly complicated hardware. a lot of this is moving to software. the prices are a lot lower. they are fighting that head wind too. the as the macro market head wind in addition to their

extreme size. >> we also i gave a bit of a hard time on flip and gopro. he said look you have to take some shots. not every acquisition is going to payoff. >> one in three fail. if you don't take risks you're not a leader. but he did say the word flip. -- elsewhere in the markets dow and s&p 500 opening at new highs that were above their prior closing. nasdaq up 10 points today. shares of walmart rallying. earnings and revenue topping estimates at the arkansas based retailers. the company helped in part by a strong back to school season and of course they will be an important barometer for the holiday season as well. sherels of j.c. penny slipping after revenue in below estimates. down nearly 10%. same store sales also flat year over year.

carl people are talking about the chapter we're in for the j. jc penney chapter hardest to execute. >> apple shares crossing 112. dan niles still bullish. heel explain why. and the war of words between spotify and the taylor swift. and cyber security is as easy as looking in the mirror. hands on with a product walt mossberg called one of his top five technologies of the 2014. dow settling down. and the russell not catching up. "squawk alley" back in a minute. twhat do i do?. you need to catch the 4:10 huh? the equipment tracking system will get you to the loading dock. ♪ there should be a truck leaving now. i got it. now jump off the bridge.

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apple hitting new all time highs as the market cap surpasses 650 billion dollars. on news apple's new product cycle could soon get much bigger. a new report claims chip suppliers within the watch supply chain have begun gearing up production with what it expecting to be 30 to 40 million units already ordered. joining us is dan niles. dan, good to have you. >> caller: thanks kayla. >> a fresh all time high for a stock normally in its weak

season. do you think it is really all this news about apple pay and the supply for the apple watch driving it? >> those are interesting. the real key is the new iphones are the best products they have had since really the iphone 4 came out four years ago. and that is really what's driving the stock. they have had substandard product relative to what competitors have been doing in terms of producing large format phones for the last four years. and that's been the big problem. this should be the best product cycle we've seen in four years. and that is what's driving the stock. >> steve wozniak in comments earlier this week, said if apple just launched iphone 6 earlier, it it would basically have not had to worry about samsung as a competitor. do you think that apple can make up for that lost time at this point with the iphone 6? >> i agree.

this is apple's number one issue. if you look back to when they introduced the iphone 4 in calendar 2010, the company was growing revenues 81% year over year. and then if you look forward, calendar, 11, went to 68 and 12, to --. and if they had launched had larger formats and kept pace i don't think you would have seen samsung gain that market share. but better late than never. and the new phones are great. i'm looking forward to getting mine. >> i'm surprised you don't already have it, dan. >> 112.83. what happened to the old school of thought that it underperforms after a launch. and are all your buddies who don't already own it going to chase it into year end. >> it underperforms if the products aren't that great. and this is what we've been

talking about. your quote from steve wozniak, i don't know if they had launched had bigger screen phones they would not have had worries. i haven't upgraded for several years. and there is a lot of people out there same situation. the market share on the four is over 50% of the installed base of apple. a lot of those people are upgrading. i think that is why the stock is going to outperform in this product cycle. and the other thing is don't forget we have the iwatch kol coming. it actually looks good. i had doubts but it looks like it could be potentially powerful for the company. it's also a higher margin product. and the other thing, the new 6, the bigger format phone has higher margin than what they are selling now. and the apple pay and the app store which they are continuing to get better products has

higher margins as well. and's another big driver. >> how long does the iphone 6 product cycle really last? this quarter should be a monster, given just what you have talked about. a subtle price increase on the bigger phone. on the storage side. huge numbers here we're expecting. how long does that continue into next year? >> you ask the perfect question. the product cycle should continue for another year, let's say. six months to a year. after that is when it starts to get tricky again. they have to show that unlike the last three four years where samsung was really cleaning their clock in terms of producing phones people wanted that now they can keep up. if they keep up with features even else has, these are phones that people want. so i really want to see to your point what is after this. can they keep innovating and staying ahead instead of falling

behind which is what they've done over the last several years. >> a quick note on twitter at 42.13? >> i'm looking at the stock. i'm short a little bit of it. i'm looking to short more of it. we're long a lot of facebook. and i think if you go through the metrics, you know, it makes no sense to be paying 88 times to ebitda on twitter. and twitter is growing revenues at only twice the rate of facebook. and facebook has five times the user. so risk/reward, facebook is a much better bet than twitter. they are both great companies. it is just one is not at a great price. which is twitter. >> dan we appreciate your time. >> thank you. >> dan niles, founding partner in alpha one capital. when we come back, taylor

swift getting the "time" treatment. business week doing similar business saying is taylor swift the music business? the debate how much should artists be paid and what does her dispute actually mean for the industry? when "squawk alley" comes back. y anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial.

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we're watching shares of king digital. moving higher on positive comments. the firm see it is candy crush soda saga game as significantly adding to fourth quarter sales. upside to guidance likely for this company. co cowen also repeats the price rating. it's up 15 right now. >> simon hobbs. dow's gains have softened just as europe is about to close. >> it's interesting. we're cutting the gains we had

in europe earlier. a major feature has been the earnings. belgian baj. kbc. cost cutting a the erickson. other countries continue to slow. the u.k. pound similarly lost a lot of ground. today down 8%. today the bank of england was cutting forecasts. saying inflation was less of a problem and london house prices are the falling. china also slowing down data as well. bear that in mind. top gainer today actually in europe is morgan stanley, fiat chrysler is going through the session as you can see. one of the main losers is aegon. they have overestimated the

extension of life expectancy in the united states and therefore haven't been charging sufficient premiums. which is why they are down heavy. and lastly a virgin money. today debut on the london exchange. it was priced on the bottom end. this is a company that comes from the rubble of northern rock. remember the run at the beginning of the financial crisis. priced at the bottom of the range and currently trading just below that. what i find interesting about this is how some of the very experienced investors are continuing to look for exits. we know as a matter of fact that virgin atlantic is in the middle of the road show and will come to market soon. and also the likes of hilton and black stone continuing to exit hilton. last week they put another $2.6 billion on the block.

worth mentioning that experienced investors are paving their way to realize their gains. >> simon hobbs. thank you. >> well our tech crowd challenge is underway this week. two campaigns battling out for your vote over which product you would fun. anura is a pocket sized phone controlled by the smart phone. it can stream live video. that you have against lief which is the first electric snowboard. looks like a skateboard. and gives the same boarding experience as being on the slopes. you can vote now. as always we'll reveal our winner. >> that is cool. although i would break my leg. when we come back, taylor swift shaking off the latest from

spotify. and which company? dream works or hasbro is getting the better end of the would be merger deal? but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. today could be the day. the day we give you hope. relief. a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today

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welcome back to "squawk alley." joining us this morning john steinberg has made his way to

post nine. i know you are fired up about this story. taylor swift making the cover of time today. she says with beats music and rhapsody you have to pay for a premium package in order to access my albums and that creates a perception of value on what i created. is she speaking for the industry. >> spotify is historic not a current advertiser of ours. the nuance distinction i think between paid services and non paid and being able to put it streaming she's basically just a capitalist. >> but she was being paid by spotify. >> not enough. she says. she's very happy with the money she's making on itunes. most artists are saying they can't get enough off itunes. so she's free to do what she wants. i don't think she speaks for the industry because not that many people have the leverage she

has. >> sounds like she wants recognition that maybe her music is in a different league. >> that was -- i read the interview this morning. the whole thing is uncompelling to me. if she liked the economics i'm sure she would feel the art is adequately appreciated. the "wall street journal" had a good article this morning. i think they are going to play harder and ask for more money. >> with the consumer or the. >> with the label with the streaming services and everybody, negative for spotify, negative for radio. negative for all the services and will be passed to the consumer. they could put the genie back in the bottle a little bit. >> do you think it means that the death of the download, which we talked about for a while is not actually true? >> i think that the death of the download is dead. but i think that the death of

actually owning certain albums available in the cloud is not necessarily dead. i think this could revert a little bit. when napster was around everything was free. then it was easier to pay for services like netflix. >> there is now disparity of what someone could make off itunes or a straight album download. but it does seem to put the label in a precarious position if the artists can control directly selling their music to a platform like itunes. the labels get 70% of spotify's revenues. do you think that cut changes? >> ultimate if the label and artist are not making the money they want, they are going to cut. or a they will reconfigure. tailer is outlying examples.

most artists are making off touring or other ways. >> she is also making money there. >> in my business we've given up off making money on straight banners. we different things. so we've adjusted. it is very hard to take an industry and say we're not going accept the realities of the world you live in. >> addressing long-term strategy at the invest are day yesterday. john your argument is too much long-term. >> yes. and i can speak about this. all the analysts are saying what are you going to do two years from now? give me a forecast. i don't see a point in doing that. i tell them what we're doing now and where we are and let them make their forward speculation. noto coming out and saying doing a billion dollars, all these companies hit five billion in this year, and 14 in this year, it is a revenue forecast.

when you show a line with your revenue going out into years he has to now hit five billion in three years. 14 billion in ten years. and this quote from the product release, we are picking up the pace of product changes. what are they so unhappy about? their valuation is very rich. why are they so unhappy they need now a price they are not getting. like my kid, tomorrow i'm going to do this. tomorrow i'm going to do. >> and the forward valuation during the ipo road show in november 2013 was all based on a 2015 product projection. and at that point people said wait a second, that's far into the future but i buy it. and now 2015 is around the corner and it still seems farther away. >> --.

>> these new metrics. 185 views per quarter in embedded tweets. maybe they are unhappy that people don't realize how much they are being seenout of time lines themselves. >> why do they feel it is not fair the price they are getting? why is it not enough? to me whatever people say about your product it is what it is. you lean into it. you accept it. anything. they could be a little like elan museum musk. yesterday with as grab bag a the kitchen sink of the products we're going to do. we're going to do video, direct message a tweet. what was up with that? >> what about this instant timeline idea. the on boarding, to tool to get people coming to it brand new at least have some curation to start with. >> i thought we'd heard that five times. i love the product. i think it is a great company. they are going to do a billion

three a billion four in revenue. they have a very high multiple. i don't know where the unhappiness -- the achievement is tremendous. >> john good seeing you. when we come back, as hasbro eyes dream works we're going to throw back to one of the studio's original films. and first rick san tetellsantel >> well a bit of postmortem. there is good things gonna on. maybe could be a little quicker and some data around the globe, specifically with china. and 13th day in a row if a tight closing range for ten year yields. what does it mean? after the break.

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amazon and -- have met up. >> publisher and amazon striking a deal. multiyear deal for ebook and print sales in the u.s. great news for writers. will benefit matchette authors for years to come. hatchette will have the responsibility for settling

prices and ebooks. will benefit from better terms when delivers lower prices for road readers. amazon and them will immediately --. we have to remember as these two have been in this standoff for months now. authors have come out criticizing amazon for punishing them as they have been trying to figure out a deal. >> anyone blinked? >> these two have been in a standoff. i would have to guess there has been compromise on both sides. there's been a war of words and accusing each other. and a lot of authors come out in criticism of amazon but at the same time they want to sell books on amazon because it is the biggest retailer of books.

so there was probably pressure on both sides especially br before the holiday season. >> -- can you verify that is stuff already appearing you can preorder. >> immediately. as of right now everything is back to normal. you can preorder books. they are doing promotions. one of the reasons why this was such a big issue is the amazon stopped promoting those books in other companies like walmart trying to take advantage. but as of right now everything is back to normal. >> any attempt by amazon to make up for any estimated losses hachette may have suffered during the many months this feud has been going on? >> well i this i that might be water under the bridge. it might be sort of just what happens when their there are negotiations going on and standoffs like this. i have not seen reports of that yet but i'll definitely look into it kayla.

>> between this and hasbro and twitter your beat is on fire julia. thank you. >> it's time for throwback thursday with the news that hasbro's in talks to acquire dream works we're throwing back the studio's very first computer animated film. many of you may remember, it was "ants." released in 1998. the movie revolved around a worker ant name z and his fight to save the society. it cost an estimated 60 million dollars to make and at the time of its release it faced stiff competition from picxar's a bug life. >> when this came out there was a bitter fight between disney and dream works. they felt like one of them owned had idea for a bug cartoon movie. >> who knew that was a battle ground.

>> it was back then. >> let's hit the santelli exchange. >> bug's life. yeah there is a life lesson there. don't elect grasshoppers if you are a society of ants. that's for sure. with the today us number on jolts. many traders were having the discussion after we released that number after 10:00 eastern. they don't have the same intrinsic feeling on jolts they have with regular employment reports. but that's got to change. because yellen has a comfy feeling with this data series. so we're just going to summarize the highlights and keep it really simple. okay, job openings did drop 118,000. but that really isn't a big deal. it was still a solid 4.7 million number. and historically it is still the best in 13 years. but where it really gets

interesting is hirings, but quitting. on hirings, the sequential month of over month improvement, up 3.6 in september and 3.3 in august. here is the interesting thing. quitting. you have to have nerve when you quit a job. this when you pair it with the rest of the data shows it that it moved to two percent from 1.8. and when the confident to quit is there and hirings and openings are improving that is usually a good thing. but one fly in the ointment is skills. it is really hard to discern how much of the quitters of course are in skilled type positions. as for data in china we continue to monitor china. global growth it is easy to

concentrate on the u.s. and we're better than everybody else. but it really is a closed system and every quarter and every year there is so much contribution by every economy to. that end we saw china released some data and i found it very fascinating. because the october data year over year was .7. but the problem if you look at the last three months, what you end up with is 6.9 in the august. last month 8% which is what they expected when when he received 7.7. this 6.9 several months ago was weakest year over year since the end of 20u 2008. so this number really took a bit of the wind out of those thinking that china isn't at bad as some discussed. back to you. >> rick santelli. thanks so much. when we come back, coming up, forget your password and your fingerprint. the company letting you unlock

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cyber security now as easy as looking in the mirror. eye lock aiming to replace traditional passwords and pins with biometrics. named one of the top five

technologies of the 2015 by re/code's walt mossberg. and here is eye lock ceo jim demetrious. >> we use a colored part of your eye and use it to check your identity and eliminate fraud. we have a platform strategy that uses iris authentication to connect a wide range of network devices. >> the chance of a false scan? i'm seeing one in one and a half million. how does that compare to credit cards or traditional passwords? >> in the field of the biometrics da dna is at the top of the heap. and the uniqueness of the iris gives us a chance to write an extraordinary algorithm. and we have a false accept in

1.5 million with one eye. and 1.5 million squared with two guys. >> we've had vendors on for months. heart beat. reading your ekg. fingerprint, your eye. is there room for all of these types in biometrics? or is one going to win. >> i don't think it is a winner take all strategy. we're moving towards a dual factorer identification. and in certain instances, fingerprints are good enough. but when you want to move to a high value interaction you want to increase the biometric. >> let's introduce the products we're launching today. this is miris. this goes on tomorrow.

. this is the module. they will create modules to fit into smart phones, you name it. >> why a separate module? >> the camera technology is getting better every day. we're adding a little bit of the illumination field. but this is a module that will fit tomorrow into a computer bezel. and as they get smaller. think wifi. started as the box and now watch batteries. that is the direction we're moving in. >> how long away? >> the modules are starting to come out now and will pick up momentum into 2015. >> but it is not a laser like we see in holiday. it is not a laser scanning like that. >> not at all. it is a very simple picture. the same type of the camera power that you would have on your smart phone. >> and how many have you produced? how many to you expect to sell? >> first runs are tens of the

thousands and we is expect to see acceleration q one. >> isn't there a -- i could see financial institutions wanting to buy a bunch. i can't see people walking into a store and wanting to play 300 for extra security but i could see goldman sachs wanting these. >> absolutely. they have an immediate need. >> and do you think the hacking we talk about all the time in various retailers, is that going to be a thing of the past in five years. >> well i think it is going to take a collaborative effort to wipe out completely. be clearly if we can do away with passwords that is one area we address. >> very big vun rabltd at that. best of like with myris. >> amazing. when we come back amazon and matchette finally making peace. ♪

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already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. go to startup.ny.gov. back to breaking news we got a few moments ago on amazon. amazon and hachette announcing they have resolved the long

dispute. signing a multiyear contract giving hatchet enormous marketing capability with one of our most important book selling partners. and amazon citing the deal includes specific initiatives to help lower prices. >> we used to worry about monopolies. and now there is so much competition that we should just let people fright it out. my view on cable as well can net neutrality. people can go other places. hatchet was going to walmart. amazon had to come to a deal. let them just fight. >> i loved kara swisher's take on this, when we were talking about the fight. you don't see walmart playing this jockey with shampoo for instance. and we're in a new era for retail. >> i think walmart does do that.

i think most of the people to make these products are so afraid of criticizing walmart and lots of the -- >> proctor and gamble could attest to that. >> i think you can tangle with amazon because there are other place sell it. people would find another place to go get it. >> i got to say the action in oil today is breathe taking. brent below 79. in terms of weekly losses we are on track for our seventh weekly decline. that is longest since '86. what were you doing then? >> i was being born. >> exactly. it's been a while. stunning deflation in energy, john. >> 1986, i think we were doing the stock picking contests in school where it to --

>> the dow is up almost 100 points. but then the russell started to underperform and we did lose some steam. the s&p still roughly flat. >> dow holding up. >> thanks to walmart and cisco. let's get to scott wapner at headquarters with the half. >> carl thanks very much. let's meet the starting lineup for today. josh brown, stephanie link, joe terranova and jon najarian, and also joining us is the zach seaward. and we begin with ceos in the hot seat. dick costolo,