because he's in the same trade. i'm wondering if he's on the other side. >> no, retesting the breakout level. this is maybe the first or second inning. this has been an index underperformed for almost five years now. china is where you want to be. hong kong is an easy way to play it. >> buy rig. >> power starts now. halftime is over. "power lunch" and the second half of the trading day starts right now. if you're long the markets, folks, you've got problems today. the dow, s&p, the nasdaq, russell all moving decidedly lower. the problems are everywhere. about three quarters of a percent on the dow. half a percent for the s&p. we've seen the russell move higher. nasdaq basically flat. china, greece, those are the problems. shanghai index down more than 5%. athens exchange dropped more than 12%. almost 13.

the etfs that follow those stocks getting beat up right now, folks. so is this an entry point potentially? stocks are falling. so is the rain and snow. a nor'easter is here. big storms out west. the forecast is coming up. but first, my friend simon hobbs. >> and it did feel quite stormy at the open. stocks suffering their biggest drop in two months. though we are off the lows now. on oil, at the moment, currently trading at $66.49. so slightly higher on the session overall. nine out of the ten s&p sectors are down. utilities, energy is up. let's get to the trading action this lunch time on the floor with mary thompson. it's become more of a broad markdown. >> that's a good way to put it. coming into the session, you had concerns about some of the

global selloff that we saw in the other overseas markets and warnings here in the u.s.. i'm calling this a bit of a turnaround. i was speaking to a strategist and he said things that were working are no longer working. the question is whether this is a one day thing or start of a trend. so let's take a look at some of the sectors that will one wasn't working and now it's working today. we're seeing a bit of a bounce in the centering sector. this has been a big drag on the markets lately. different story today, we're seeing a pop in the oil prices, maybe we missing the dollar at play there. but this group has been a better performing sector today along with utilities. we also earlier today saw another drop in the dollar-yen. and it was flirting with this 20 day moving average of 118.16, an area where it hasn't broken through for some time. it, too, has come off. but there was a fear play going on here where investors were seeking safe havens. so that is why you saw that. in addition, we saw the yield on the ten year treasury actually drop below that 2.2% level that

a lot of people were looking at. but it has come off the levels as again the markets have actually come back. the dow that comes back about 100 points. so again, certainly a fear factor at play, but we have come off the lows. so maybe this is only a one day thing. >> mary, thank you. russell is positive. nasdaq flat. let's get more detail on that. kate rogers joins us from the nasdaq market site. what wr do you want to start, apple? >> no we'll start with the stocks at the up side. western digital is one of the biggest gainers here. up over 2.5%. the "wall street journal" is reporting they have made, quote, significant progress with chinese regulators to allow to integrate with hitachi. o'reilly automotive up over 3%. benefitting from gas prices that continue to fall across the u.s.. also of course here keeping an

eye on apple for you. it's up just under a half a percent. but it was down over 1.8% for the week. now to the down side. we're keeping an eye on tesla for you. the stock down near half a percent today. it was down 4% yesterday. and also chip makers all to the down side today. back to you. breaking news in the bond market. three year notes up for auction. who else? santelli tracking the action. hi, rick. >> indeed three year note auction, 25 billion to be exact. just buttoned up the yield 1.066. right there right towards the one issue which was 1.07. so pricing right about where it should be. bid to cover, 3.30. ten auction average. but on this auction, a little late, $3.24. here is the strong point. 42.2 on indirect, best since

august 20611, but a bit light on directs at 10.1. dealers take 47.7.11, but a bit directs at 10.1. dealers take 47.7. could have been a b, but not quite there. tomorrow we'll look at 21 billion in ten year notes. simon and tyler, back to you. >> thank you very much. so after soaring to three year highs recently, china stock market posted its biggest one day loss since august of 2009 today plunging over 5% by the close. inta taktak intra day move of 8. then the athens exchange plunging 13% today. here with me michelle caruso-cabrera. >> single biggest one day decline for greece in 27 years. and when you look at their ten year yield, as well,s's back above 7% which is the kreeld yi got so worried about. once again today, investors are

worried about greece leaving the euro. late yesterday the primary said he wants to hold the presidential election early. the president in greece is pretty ceremonial, not very important. so why does the election matter in the the prime minister needs to prove that he can actually bring together a coalition, get his guy, his favorite guy in, to the position. if he can't, another situation with europe what they call a collapsed government, they will have to have real elections for the prime minister. that would happen in january. here is the situation. right now, if you were to hold the election today, the radical leftist would win. why is that a problem? he says he watch thes s wants euro, but all the conditions he imposes means he probably would have to leave. he talks the talk, but ultimately all the things that he wants suggests that i don't think germany would put up with it. >> it's not just greece, not

just china. you have the russian market today under a huge amount of pressure and we should mention venezuela. >> both of them getting clocked. russian ten year yield, around 13%. it's been getting hammered for the last three days and venezuela has also collapsed. there you can see the move that has been happening, 13% in a low yielding environment, imagine what that means to some investors. take a look at what is happening with venezuela. 21% if you wouldn't boouy the 2 year. below 40 cents on the dollar in some situation. venezuela needs oil at a desperately high aer price. >> let's bring in carmine, and also david. carmine, there is clearly an

awful lot going on news-wise today. what does it mean for an investor in this country more or less only focused on this market? >> well, i don't think these events in greece are likely to have a major impact on economic impact globally. in china, you look at reining in credit risk i think is a good move. you can't interpret that as a negative move. here in the u.s., fundamentals are in very strong. you've got record levels of profitability, company profits will increase next year by about 6% or 8%. you've got multiples that are quite roynable, interest rates that are stable and low. and takeover activities basically running 70% over last year's levels. buy backs up $570 billion this year. it's a great environment. >> david, let me jump in. there was a story in the "wall street journal" this morning, and here we go again, the discussion that is taking place

at the fedded leading leading o the meeting next week having to do with the words considerable time will be excised from their message. is worry about rising interest rates, is worry about a language change in a fed statement having any influence today whatsoever on what is it happening in u.s. stocks? >> i think it's a factor. though probably not as big a factor as the global declines that we've seen. the considerable time question has been out there for a while. i expect that they will tweak the language. if you believe that we're five to seven months away from that first rate hike, at some point saying that you're not going to change policy for a considerable time, actually becomes misleading. and i think the fed has become increasingly sensitive to not making messaging errors. so i would expect some language change, but i would also expect to accompany -- to be a accompanied by the most optimistic assessment that the

fed has had since before the great recession. >> we should mention the nasdaq fed has had since before the great recession. >> we should mention the nasdaq is just positive overall. would you agree with that sentiment? a lot of people are suggesting that the market gains will slow during the course of next year. doesn't that kind of create a lot of difficulty potentially for big declines in the market on occasion? >> well, you're likely to see more volatility next year. the gains will probably be comparable to what we're seeing this year. maybe a little bit above it. normally when you get the first rate hike, you see a pull back on the equity market of 6% on average. doesn't get much worse than that normally. so i think it's certainly possible that you'll get something sometime in the first or second quarter next year. we had a bit of a pull back, consolidation, and i think ultimately you move higher. because rates are not likely to go up substantially higher begin the global conditions. global monetary conditions are exceptionally favorable. here in the u.s., although there

is some less accommodative policies, in europe, very accommodative, japan, elsewhere throughout the world, it is very accommodative. i think that will throw into the u.s.. >> we'll leave it there, guys. thank you very much for your time. meanwhile, shares of the uk's biggest grocery chain, t tesco plunging about 11%. tesco's embattled new ceo speaking with the road ahead and seema mody has the story live in london. your royals are -- no, they're not your royal, but the royals are here. you're there. >> i know, they didn't ask me where to go in new york city, but i'll take it up with them later. of course tesco has been a big story today hitting a 14 year low. but that's not the full story. it's lost over half of its market value just this year. the uk's biggest retailer tesco warning that it's profits will come in well below expectations just three months after

revealing an accounting scandal. the investigation around that is still taking place. and that's mapart of the reason tesco issued its fifth profit warning of the year as the company's new ceo dan lewis says it needs to put money towards this accounting mishap as well as its turnaround strategy. but lewis did say it's incredibly difficult to provide a time frame on when the turnaround will happen and when it will be able to emerge from the scandal. in the meantime, investors have been losing patience. even warren buffett said in october that investing this tesco was a huge mistake. it lost as much as 17% at one point and simon, as you know, here in the uk, tesco is a household name even in london, it's pretty much on every other corner. >> absolutely huge. i think the second largest retailer in the world alongside walmart. >> third largest, yep. >> thank you very much for that. let's get a market flash. >> so the dow only down about 100 points, but we're watching

shares of tata motors. its jaguar land rover unit is recalling more than 7,000 of the jaguar f type sports cars here in the u.s. for possible wiring issues regarding its front passenger air bags. those shares down by about 5%. back to you. east and west coast are preparing for storms that could lead to flash floods in certain areas. for more on that, here is the weather channel's carl parker. >> we're watching stormy weather on both ends of the country. a very strong low is bringing heavy rain and snow to the northeast. let's begin with the satellite picture. and this system will slowly move up across the northeast over the next couple of days, nirlly a lot of rain along the coast that could mean flooding and some trees down with stronger wind. and then the snow lingers with the upper level low for a couple 6 days.

and so all told, there will be several inches in a large part of new york state as well as northern parts of new england. not very much snow along the coast. and in the west, we're watching a very strong jet stream coming acro across the pacific ocean and along with that the formation of a really powerful system that will move in starting tomorrow and then going through the day on thursday. along with this, very heavy rain on the way for northern and central california, there could be stormy weather, gusty wind, possibly wind damage. and heavy snow in the sierras. so we have all of the usual concerns about flooding and mudslides there in california. however, this this much needed brain. this will go a long way towards helping out with the drought. 3 to 5 inches generally in northern and central california and flood watches are in effect for a lot of the central part of the state. back to you. >> thank you very much, carl. and, boy, they dcan use the rai

in the west. another new problem for lockheed's f-35 fighter. this one, a weird one. and u.s. embassies on alert, a new report on the cia interrogation program of suspected terrorists. we have details on that and what may ensue. weigh in, should that report be released? go to cbs nbc.com/vote.

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the dow coming off of its lows. it was down more than 200 at session lows today. leading the way back higher are united technologies and you united health group. biggest laggers are verizon and merck. and now over to melissa lee in las vegas for a news alert. >> i'm melissa lee here in las vegas where the stage is set in las vegas for what could be a very interesting showdown between mark cuban and christopher cox. now, this will be the first time the two men have met since cuban was cleared of charges in the mama.com case. and that case alleged cuban had dumped about $8 million in soft

on information he obtained from the ceo. cuban was cleared of all charges, but it propelled him to the forefront of all s.e.c. critics and he's been vocal about the ineptitude of the s.e.c.. essentially said the s.e.c. lies, they're in for wins. and that there is a lack of awareness at the agency. so there could be some very choice words between 2450es two men. of course tune into cnbc for all the highlights as they happen. and of course later on on the "closing bell," i'll have an exclusive interview with mark cuban. tyler, over to you. >> thank you very much for that. it will be lively. in the meantime, lockheed martin shares are up today, up 36% on the year. that's despite reports of new challenges for the f-35 fighter jet. jane wells has more live from l.a.. >> the f-35 is supposed to be the best fighter jet ever and it

is critical to lockheed martin's future. certainly the most expensive. but as it goes through testing and training, it's running in on some problems in the desert heat at luke air force base in arizona. there is no shade for the fuel trucks and the fuel at times gets too hot for the plane. because apparently there is a temperature limit for the fuel the f-35 can handle according to the air force, too hot and there is fear the jet could shut down. the solution, well, the air force tells me it's playing around with ideas including painting one of the fuel trucks white reflective paint. if this works, it's a lot cleaner than trying to fix the plane. it's only $3900 a truck. the idea has been reportedly tested at edwards air force base. in a war zone, bright white fuel trucks could be easier targets, but they say they could keep them green but just cover them with heat reflective coating.

they're just brainstorming. i've not ever heard of a temperature limit on fuel. doesn't mean there isn't one. i've asked lockheed about it and they will get back to me. over to you. >> thank you very much. the senate has released the executive summary of a report today on the cia's interrogation program for suspected terrorists. it is potentially an explosive document that has u.s. embassies on alert. so should the senate release the entire cia report? to cnbc.com/ and let you know what you think. while you do that, eamon javers reports on the latest involving the report. >> as you say, it e's 525 pages released today, a report put together by the senate intelligence committee. it has a explosive new

revelations regarding the cia post-9/11 interrogation program for detainees. among those revelations that the cia is -- senate intelligence committee is saying the techniques were not effective in producing the reposults that th were going after and it provided inaccurate information about those techniques, as well. the ci achlt program was far more brutal than the american people were told and resulted in fabricated information from some of the detainees. the ci achlt provida provided i information and also representations to the president of the united states by the cia about this report were inaccurate. senate intelligence committee chairwoman dianne feinstein took to the senate floor and said some of the techniques amounted to torture. take a listen to dianne feinstein just a little while ago. >> it shows in a the cia's actions a decade ago are a stain

on our value and on our history. the release of this 500 page summary cannot remove that stain. but it can and does say to our people and the world that america is big enough to admit when it's wrong and confident enough to learn from its mistakes. >> senator john mccain also took to the senate floor today to denounce these coercive interrogation techniques and say the united states does not have to sacrifice its honor in order to prevail in this war or any other war. reporters are going through all of the details that were released in this report earlier today. one of the interesting things that i found is that the detail here that two psychologists found it a private company to provide some of the underlying interrogation analysis. those psychologists, their company, was paid $81 million by the cia according to the report. >> thank you very much.

we'll let the vote carry over through the break there. should the senate release the full report on cia interrogation tactics that some say amounted by any standard definition to torture. right now, you can see where the split stands. and as eamon points out, if anyone could speak he authoritatively, it would be john mccain who was held during the vietnam war. shares of abercrombie & fitch soaring today. so what is ahead for the retailer and its investors? next. plus, if you're going to own teen retail in your portfolio, then this may be the one stock to own. find out which one next.

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the legacy of usaa auto insurance could be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. we have a developing story in the nfl. the carolina panthers star quarterback newton has been involved in an automobile accident right outside of bank of america stadium in charlotte, north carolina. we don't know the extent of his injuries, if any. we do know he was taken by ambulance to a local hospital. there you're seeing photos right now of the scene here again just outside bank of america stadium in charlotte, north carolina.

home stadium of carolina panthers. the carolina panthers have also twhooe tweeted out that, quote, they are closely monitoring the situation of a car wreck involving cam newton. we will have more information at an appropriate time. so again, cam newton, quarterback for the carolina panthers, injured in an automobile accident. we'll have more details as they become available. let's have a look at where we are on abercrombie & fitch. the stock higher today up almost 7%. michael jeffries is retiring effective immediately. executive chairman will be in charge until a full-time successor can be found. abercrombie's rival american eagle also trading higher after oppenheimer upgraded the stock to outperform. there are currently 7 buy

ratings, 11 holds and two sells. joining us now is executive director for specialty retail and senior analyst at oppenheim oppenheimer. welcome to the program, anna. >> thanks for having me. >> what is your reaction to michael jeffries leaving abercrombie & fitch after so long, such a controversial figure but in fairness, a guy that more or less built the business over two decades? >> yes, certainly a very surprising die paeparture and e an era. this was the creator of a modern day anf, certainly recently more challenging. this is now year two and we think overall brand equity is being questioned by the consumer. change could be a positive, stroeof course, but we position turnaround could take longer to

build. so certainly very interesting news today. >> do you actually have a rating on the stock or is it one that legally fits in your in verse? >> our rating is market perform. >> let's move on to american eagle outfitters. obviously you've upgraded the stock. what are they doing right? this is ary troubled space. what are they doing right? >> the teen space no doubt remains very difficult. we do view american eagle as a better house in a not so great neighborhood, if you will. first off the price quality equation here is the right one. the brand stands out. they have 30% market share in a very important denim category. so that's pretty significant. as we think about apparel in terms of gifting purchases for holida holiday, apparel tends to be half of all holiday purchases. and we are seeing improvement

for employment for younger demographics. and the gas prices at multiyear lows which brings out discretionary spend. their company specific drivers, as well, american eagle is becoming more nimble with better and faster execution in fashion and this is on top of very weak results last year. you do have bankruptcies from smaller players like delia's. they free up some market share if american eagle, a. its main competitor abercrombie could be an opportunity, as well. another thing we like about the stock is they are playing defense better, basically doing the right thing for the business by pulling back on aggressive promotional events, managing

ev inventories and expenses tighter. and there are a number of store closures coming. arie is their intimate apparel brand which has solid momentum. and could become a growth story over time. >> okay. anna, good to talk to you. thank you very much for your time. looks like americans plan to spend the most than thas decade. who is doing it, what are they buy sthg courtney reagan with the results of our cnbc all-america economic survey. >> we were told this morning that americans to plan to be quite generous gift giver this is holiday season and intend on spending the highest level in five years. key demographic groups with the most bullish plans. hose planning to spend $1,000 or

more this season didn't change from last year. the makeup did actually change a bit. three quarters stand out. americans age 35 to 49, homeowners who believe their home values will increase over the next year, and while those may not be big surprises, more republicans join the spender category this year than last seemingly lifted by the recent senate victory. and while the majority of americans do not plan to take on debt to pay for their holiday shopping, 29% do expect to use credit cards or other debt that won't 3450edly immediately be n full. highest level in four years. so taking on the debt and seem to be okay with it. >> okay. courtney, thank you very much. let's see where we are on gold. it's had a reasonable day in a generally risk off environment. a gain there of $38 on the session.

$1233. quick check on copper, palladium and platinum. and it's reflected across the board. >> let's go out to rick santelli and get a check on the bond market. rick. >> not often you can look at a three year or into ye two year chart and see an auction result. still down a couple basis points from settlement, but it was an average auction, a bit of a nervous feeling in the treasury market. maybe they're starting to believe that the fed will raise rates in 2015. if you look at the two day ten, you can see the same move. but still well below the bulk of trading yesterday. and everybody is talking china, let's focus in on the fx relationship. here is the 24 hour chart of the dollar versus the chinese juyua. you can see how quickly it has

moved there. back to you. >> thanks, rick. oil prices stabilizing a bit after crude hid a new five year low of $69.29. oil still down more than 30% over the past three months. but that isn't stopping some of the big banks from cutting checks for energy deals. risky move or not some we'll talk about that when we return right after this. robot butler, can you shut the shades? oh and could you turn on air conditioning i'm starting to sweat. i'll just do it myself. useless. that's nice. set's the mood.

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we're watching the markets. the dow pairing losses, thousand down about 72 points. biggest lagger, telecom down about 3%. and now neglect differenative f. verizon warning holiday promotions would, put, quote, short term pressure on q4 earnings. at&t also falling 3%.

sprint and t-mobile also feeling the pain respect, 3%, 5% respec. oil prices have moved do you know a little bdown a little bi. basically flat on brent and higher with west texas intermediate. it's not stopping some of the big banks for cutting checks from energy deals. kate kelly with a lower look at that story. >> it's been another rough morning for crude, although it bounced back a little bit. but earlier today, oil touched five year lows and at least one prominent energy company is forging ahead nonetheless with ambitious plans for growth. the houston expoefuture exporte in the market as we speak

raising some $12 billion for blild to build a new production facility in krcorpus christi. and wall street is writing some checks. and more than a dozen others are also on board at various levels in a deal depend event on junk bond offerings ins next few years in order to keep the cash flowing. typically an lng provider would be pretty worried about the falling price of oil. which has moved in parallel with liquified gas, it's down more than 40% in key markets overseas thanks at least in part to crude oil's role in establishing many of the lng contract prices. but cheniere uses henry hub natural gas as a basis rather than crude oil. perhaps because of that, cheniere's stock has been on a tear this year and in recent years. and bonds tied to its nearby

facility are performing solidly. but there could be more pain to come. energy in general the single biggest component of the junk bond market. and second biggest in the investment grade market. also the third large he st sectf the s&p and a cash cow for wall street, which could be another reason why banks are rallying around cheniere despite the impact crude could have on the markets. >> as fitch suggested they might. kate kelly there with the latest. let's get a market flash with dom. >> nasdaq is actually turning positive. it is leading the rally back. big names like apple, amazon, microsoft, google. the dow also well off of its lows. you can see it's only down by we'll call it 60 something

pints. at one point, it was down 222 points. the s&p 500, as well, rebounding on the day off of its lows. mopping the big names in the rally there on the other side, apple soft, microsoft, also oil names like chevron and ibm. back to you. let's pick up that point on oil. joining us now, kenny, how low do you think oil will go? >> i think we've stabilized. i'm not wong of these people that think oil is going to $40. my sense is feels like the mid-60s is where it wants to stay. and then i think it moves higher. it's probably settling in the mid-70s is probably a place where i think it will stay for a while. i think days of $100, $120 a barrel are gone for a while. so i think $70, $75 probably a sense of where we find equilibrium. >> kenny, thank you for your time. time warner chairman and ceo

hasn't given any interviews since depending off rupert murdo murdoch's attempt to buy time warner until now. he's standing by live with david faber. only two minutes away. act i. scene 3. open port twenty-two-oh-one-seven on the firewall for customer db access. install version two-point-three of db connector and ensure verbose flag is set in case of problems. (clapping sound) isn't the cloud supposed to make business easier? get the one that can connect to the systems that you already have. today there's a new way to work. and it's made with ibm.

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next opportunity. because at scottrade, our passion is to power yours. markets bouncing back just a bit. time warner chairman and ceo hasn't given any interviews since pending off rupert murdoch's attempts to buy time warner until now. he's live with david faber. >> good afternoon. and a rainy one at that. we're at the 42nd annual media conference. i've not spoken to you in a while. authorize has anybody else on tv at least. >> right. >> since the big fight. i won't dwell on it, but i am curious. a lot of people thought rupert murdoch, he never loses. were you surprised at how

quickly you were able to dispatch fox and their unsolicited bid? >> yeah, but we have a good -- it's funny, because you're into companies are actually very similar will terms of what we do. and i have great respect for them. and so i think it became clear as we went along -- because we're a fairly similar size. that we probably would be better off independent. certainly what we said and i think events have shown that. and i think the fox team came to that conclusion. tak as it started out, we were undervalued and that may have led to the whole situation. >> since then, the stock went up on the bid, came back and now was actually regained virtually all that lost ground. because of your introduction of earnings per share goals and

estimates and a number of other things you've articulated, 6 bucks a share in '16, 18 bucks a share in '18. i can do simple math. but how can you be confident that you'll earn $8 a share in you 2018? >> that's what we were describing to our investors last month. if you put it through the elements, we've been on that kind of an arc. over the last four or five years, we've been agreeidegreei compa growing the company at about 25% a year. this number is going to 60s bucks in two years and doubling in 2018, is actually not even as high of a growth rate as what we've been doing. so some of the investors is knowing the path we're on. the lbiggest element is affiliae and subscriber sport fupport fo

networks and those are very good trends. everybody, people watching this show, are watching more video, liking it more, and the big news is they're getting it on demand. so now they can get faber interviewing somebody when they don't have to do it when you're on, they can do it whenever they want. >> they don't have to wait. but you rely on what has been an extraordinarily successful product namely the bundle as we call it. over 100 million people. you have to believe that that will continue to be the dominant force in the ecosystem in which you compete. >> i think it will be, but that didn doesn't mean that you can't have people buying an hbo or netflix outside the bundle about that bundle is basically the 100 plus channels that everybody loves. this is one of the most successful products in history. 90% of homes in america have that bundle, they're watching it

more and more. and the big news is that your favorite channel is about to be on demand. so if you missed the show last week on nbc, if you missed it on whatever your network is, you'll be able to watch it when you want. what that is doing is lead to go better tv shows because the people that write those shows know they can make a much more complicated story over a longer period of time and that means that everybody's love taaffair with their favorite show will continue and it will be on their ipad, not just their television. >> and we are all benefitting from the great time in tv. but i do wonder the competition amongst you and netflix, atarz, not to mention some of the others for this programming, will it have the same effect that we've seen in sports where you you guys are pay a lot more than you you anticipate?

>> no, because the demand for a good series is going up. we're the biggest producer at warner, turner and hbo of that. so that is actually a driver for us. but it's not like sports. it's not a limited supply. if you look at the number of grade tv series that are out there, there are twice as many as there were five years ago. >> so just keep making more. >> make more, make it better. >> hbo. you mentioned of course your all-day meeting not that long ago where you introduced some targets. you also gave us a taste of this idea that hbo going outside of the bundle so to speak, although not a lot of details behind it. first off, when will we get details on what it meant in terms of who you will partner with? and what will it look like when we get those details? >> remember that old tv phrase stay tuned? this year you'll get all that.

>> we'll know this year? this this is 2014. >> this year 2015. next year. so we'll be doing that next year. what you'll see is what you can already see. hbo go. go home, watch on your television your favorite show. it will be like that for everybody. there are some people that have broadband only. half of those have already got a subscription service. we think that they need a shot at hbo. and we'll either do that with some partners. our first choice is our existing cable and telephone and satellite distributors because a lot of them have broadband packages where they offer an hbo or starz on top. so i think that's the first answer. >> and when i talked to john malone a couple weeks ago, he says those guys meaning you have

to be very careful they don't alienate their traditional distribution and create an even bigger problem. because right now hbo is very profitable. the question is do you really want to walk away from that profitability and roll the dice on a different business model. his words. >> john i respect him, and he's a cable operator. and that's great. and we've always worked closely with all of our distributors. we won't alienate, we'll help and give them more products to sell anyway they want to sell. our first focus is on the video tv bundle. some of the best distributors are selling 50% more of these bigger packages than the others. those families and households, they ought to have an offer like th that. >> you're frustrated with some and happy with others. you're puzzled why the industry

isn't attracting young people. >> that's right. help us out, help them out. they have the programming. th it doesn't cost more to make it available, but let's make it available the way that young people are connected can really enjoy it. let's not make it hard to sign on, let's not make it hard to find the programming you're looking for. those are simple things. they not charging for that. >> we have to leave it there. we're done. >> thank you. it was great. it's all getting better. >> thanks. tyler, back to you. i want to hold that shout, it's all getting better. the nasdaq has turned positive. s&p 500 basically flattish. ou? just take a closer look. it works how you want to work. with a fidelity investment professional...

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in this hour, auction for the three year note. nasdaq hit session highs swinging all the way back from being down more than 1% breaking into positive territory. and the dow also battling back, as well. still negative, but it was down

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rising gold prices. back to you. >> we have the markets coming back a little bit. we'll leave you now. thanks for watching. >> yes, "street signs" begins right now. it is tech stocks to the different, but global fears stay on the table. i'm brian sullivan. quite a comeback. the latest on the markets ahead. plus notes from the bargain bins. we look for unloved but good companies. and one of the most successful and interesting investors in the world stops by. the nasdaq trying to help us out. >> sure is. but at the open, a lot of red from overseas bled into our market. the dow done 82 points. it was down 222 at the session lows.