the stock hitting a 52-week high after analysts upgraded from buy to outperform. target price 345 on the back of strong earnings. >> fascinating volatile day. that's it for "power lunch." >> "street signs" starts now. see you tomorrow. and we are right in the middle of a wild market session that has been swinging up and down really all day. stocks and oil going fast in one direction. then they change course, a minute by minute market. another big day as we talk oil, russia, a whip saw day for equities. >> you are absolutely right. you named three huge market stories. u.s. markets bouncing all over the place. the dow is down as much as 93 points snapped off as much as 247 and retreating a little bit up by 64. as for oil our second big story holding around 5 1/2 years lows.

the russian market the rts down 12% for a drop of 56% year to date. our market reporters are on top of each of these stories. bob pisani live in the nyse and cnbc michelle caruso-cabrera covering russia here at hq. let's start with the market whip saw. how much of this is being driven by moves in oil and the ruble? >> it is russia and oil and it has been a very strange day. volatility has been enormous. first and foremost oil which can't decide what direction it wants to go in. we will see if that happens. we have a quadruple witching exploration. down two and up two it doesn't know what direction it wants to go here and i think that is what is moving the markets overall, what is happening in oil today.

energy stocks are holding up very well. we have a number of names like denbury, apache, deep water drillers like dominion offshore doing well. diamond offshore and nabors. some of the financials have had pressure. citi group was down earlier in the day and that put pressure on the s&p 500. guys, back to you. >> thank you very much. let's get to jackie deangelis. a big part of the story -- going together like peanut butter and chocolate. >> not just yet for a bottom is what they are saying down here. we saw very volatile swings today. selling pressure in the morning and intraday low and traders saying options expiration had something to do with that. then we saw buying on the dip

mentality. we did go back into positive territory. now we are off of session lows 55.78 down about 13 cents. brent crude is holding on to the five handle 59.75. pretty remarkable action here. in terms of how low we think we can go at this point traders are saying they are starting to look at 40s in january potentially. it could be rough going for oil. it is really difficult to say right now. bob brought up the fomc meeting. the action we see from the fed could impact the dollar. the dollar impacts the crude trade. i want to talk about gas prices because we are at $2.52 according to aaa. one saying he thinks we can see $2.39 by the end of the year. that is the national average. gas prices continue to decline. if you look where we were from the peak in june oil prices are

down 50%. really staggering stuff. >> we will be looking for settlement prices in less than half an hour's time. we have breaking news with apple halting online sales in russia. josh lipton, what details do you have? >> if you go to apple russia online store maybe looking to make purchases you are out of luck, confronted with a screen that says we will be back. what is going on? apple giving me a comment saying due to extreme fluctuations in the value of the ruble our online store in russia is currently unavailable while we review pricing. we apologize to customers for any inconvenience. the story, as you said, just breaking. we will bring you updates as we get them. >> interesting stuff there especially because the ruble has been halted today. russia obviously impacting online sales. if you can't know what your conversion rate is going to be

you can't sell an iphone because it can be worth 12% more or less the next day. >> or in a couple hours. >> exactly. >> going to read this introduction. good intro. in an exclusive interview yesterday bill gross was asked about russia and if he thinks the huge drop in oil could force that country into a debt default like it did in 1998. here is what he told us. >> i think russia is too major of a player on the global financial scene for the country and the leadership to do it again like they did in 1998. >> we have been there before. the unthinkable happened before. >> it could happen again. i don't think next year is the year for russia. >> let us bring in michelle caruso-cabrera who we are already talking to so it is not really an introduction. we called it the unthinkable. obviously some people are thinking about it. anybody you trust saying it is going to happen?

>> most people talk to differences to 1998. a lot of cosmetic things. look at the ruble crashing could be like 1998 again. remember certain things are very different now. currencies float now. back then they were fixed. a lot of the eastern europen asian currencies were fixed. you knew the pressures were building. you were waiting for what was likely to be a political decision and unexpected overnight evaluation who knew it could impact everybody dramatically. we are watching this i know it doesn't feel like slow motion but we have been watching currency. all of the countries have much higher levels of reserves. they have piles and piles of dollars in euros and gold so they can defend their currency and do all kinds of things. they don't have as much debt back then. that was a debt crisis like greece was. this is not a debt crisis for russia. this is a currency crisis.

>> debt crisis begin as currency crisis. >> the debt to gdp ratio is not that horrendous at this point. oil is the key here. >> so more flexible exchange rates, a lot more of buffer in terms of foreign reserves and less debt. where do we go from here? obviously everyone is trying to pick a bottom. it bounced off and gave a sizable rebound to us. >> everybody caveats with this. it depends on the price of oil and where oil goes. that is oil and the russian market so deeply correlated. it is understandable. they are the biggest exporter in the world and drives a lot of the federal budget. trading opportunities we just had harvey on last hour from fire bird asset management. they have been in russia for 20 years. he says pretty close but not yet. a lot of the action you are seeing right now would suggest we are getting close to a bottom because for example companies that benefit from a weak ruble should be doing great and are

getting sold off like crazy, as well, today. he thinks it is baby out with the bath water situation but may not be the time yet. >> is it sign that putin lost control? >> that is a good question because politicians think they can do so many things because in a world with capital markets investors can push you into places they didn't know they could do. >> sweating rubles right now and posing that exact question to a couple of our guests later on in the show. >> we will be in a moment's time. >> which guest? >> that is the tease. you have to watch the show. >> i will hang out and wait for the guests. >> it is a big day for breaking news. julia boorstin what have you got the latest on sony? >> absolutely. in the latest in the sony hack the group that claims responsibility for the hack of sony's systems and release of personal e-mails and information is going as far as to threaten theaters and theater owners with

unspecified actions on the film's premiere which is scheduled for new york on thursday and the film's release scheduled for christmas day. this threat was posted to sites used by hackers to leak information. we have to keep in mind this is coming from a group desperate to make sure that the movie does not get released and if it does get released that people don't see it. this threat comes along with reports of a new data dump of e-mails from studio chairman and ceo michael linten in the heels of a new class action lawsuit filed against sony on behalf of current and former employees. sony along with theater chains amc and regal did not respond to immediate requests for comment and have reached out to the fbi. >> thank you very much for keeping up to date on that story. let's get back to russia now. oil and all those market whip saws. andrew berkeley and robert lunar, ceo of shore invest management. you are walking on the wild side

here. you wanted to go for what you call scary asset classes that everybody is not loving right now. are you going as far on a limb as going for russia? >> i'm not that brave. we are not looking at russia right now. i think one of the big things that is creating the down fall in russia is energy prices. most of my clients would probably shoot me if we invested in russia right now. all of them have one thing in common, a need for income. with the ten year at 2% right now and companies like conoco phillips and chevron yielding over 4 1.5%. >> the dow jones industrial average is up 1% over the past three quarters, about 4% year to date. the russian market is down about 47%. does russia even matter? >> well, i mean, definitely what you have seen this year is a

pretty big disconnect between the u.s. and the rest of the markets. i think that's the way things continue to go here. >> exactly. because in '98 russia defaulted and the u.s. stock market rose uncontrollably for about another 24 months. for two years it went up. no disrespect to the russian people i don't know if they economy matters to the world. >> a lot of things we are talking about in terms of oil, et cetera. those are priced in local currenci currencies. the price of oil in rubles hasn't really changed here. i think the u.s. economic fundamentals are what matters. the oil story comes in with the fed meeting tomorrow which makes it really interesting. if you thought about this a week ago probably most people would say it is a brainer they can get rid of the considerable period language. now it is a bit of a question. i think it is a wildcard tomorrow. that could be a surprise for the markets. >> do you think that the drop in oil prices are going to change the thesis here for what the

fomc does? will they be able to keep the considerable time language in? >> i think so. their outlook for a while commodity prices and the swings they have they review as transient type of things. i don't think that has major impact on what happens on tomorrow's decision. if we are looking at oil at $40 a barrel three to four months from now something will have to give. in terms of tomorrow i think it is a status quo. >> any values in the beaten up oil stocks? i'm seeing big name good companies down 60% in a matter of months. >> when you start looking at names like halliburton that stock is down about 40% to 50% right now. we are preferring to play through names like chevron, conoco and even some of the master limited partnerships like kender morgan. i think we have been singing this song for a long time. people need income. the bond market isn't providing it. if you look at companies like

chevron and conoco i would rather have my money there for the next ten years if i am trying to get 4% to 5% distribution. >> i know you are looking for 2,300 on the s&p in 2015. what are you buying and doing to get to there? >> i think it is going to be a lot of ongoing trends that we have seen this year. one sector in particular that has done well this year is health care. we still like that a lot. earnings estimates continue to move higher. valuation looks reasonable. i put technology in that camp, as well. i think you probably get a bounce but i don't think there will be leadership. so overall we think earnings estimates for the market are just about ready to bottom out here and probably turn higher as analysts have trimmed numbers quite a bit for next year and we think it is a catalyst going forward. >> a guy that is actually a guest on this show e-mailed me

and said russia matters because they have the world's second largest military. there is that. he didn't call me idiot but it was implied. >> he probably called you worst. >> he is a friend. our huge show on tap tomorrow the fed announcing the final policy statement of the year. 2:00 p.m. eastern and then janet yellen will give her final news conference of the year at 2:30 eastern. we talked about company impact. what about the big states? are the big producer states texas, oklahoma going to get like they did in the '80s? a former governor of oklahoma will join us. one commodity getting banged up, not oil, something else. "street signs" will be right back. rld. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score

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check out aluminum getting banged up right now hitting lowest level in two months. weak factory data out of china. you might know china is the world's biggest consumer of industrial metals. good news for boeing and air bus and the bottlers, pepsi, coke, et cetera.

>> and the new ford pickup truck. >> and home construction material makers all priced at aluminum. >> and for those who wrap their sandwiches in aluminum foil. as oil price is down air rigs start to get shut. as rigs get shut economies slow down. what happens now that oil producing states who have been productions of growth as a whole? fred keating joins us now. governor keating, is oklahoma in trouble with oil at these price levels? >> it really is grim and grimace time. all of us consumers are grinning. we think it is great. we can spend more. the grimace part is important to remember. 35 states and i can say that as former chairman of the oil and gas commission nationally 35 states are producers of oil and gas in some measure. texas maybe 8% of income is from

oil and gas, oklahoma probably 7%. the residuals are significant. headquarters, companies give a lot of money away and employ a lot of people. i think the decline in oil prices is worrisome. >> give us the trickle down effect. higher oil prices control a lot of things. you have lived this and seen it before. what happens? wages down, housing down. give us the derivative impacts. >> i dated myself. when we had $10 oil i had gone to work for reagan. i had little interest in my government salary and i had to tell my wife because of $10 oil she needed to get a job. you can imagine how popular i was. it has a profound impact when oil and gas producing stays. if the price of oil and gas is declining things are not so great. we are very proud as i'm the son of a drilling contractor and

rough neck on an oil rig. we are very proud of the fact that it was american genius that made this happen, not putin. it was american genius, fracking, horizontal drilling. but it has its down side and that is what we are seeing now. >> i wad reading a report that was quoting the oklahoma finance secretary saying that oklahoma as a state can weather the depressed prices for six to eight months but if it remains depressed it will impact the budget. where would you envision the cuts would have to come in? where will it be squeezed? >> obviously, across the board eventual eventually. i am hoping that won't happen. i was talking to one of my major player friends in the energy business. he said these volatile drops and rises we can handle that. it would be a general screw down of lower prices, lower prices over a longer period of time that definitely have a negative

impact not only on the states of the texas, oklahoma and others but a negative impact on the ability of america to be energy independent. all we have to do is see what is going on across the world and hope and pray that the price level will stabilize so we can continue to develop our shale and natural gas and oil. >> governor, put your two worlds together. we talked about the debt side of this oil story. many of the banks, mid sized banks in oklahoma and texas were told we have researched are levered with oil debt. is this also a bank calamity story potentially? >> what we know internally quite truthfully is that the banks are very diversifiediversified. there may be individual community banks in small communitiies leveraged. as a general rule they understand what happened years ago and it is important to have

a very diverse portfolio. obviously, you can have people employed by an energy company you are going to be impacted if they are laid off. so far i think the diversification, capital strength of the banks is very, very strong, very solid. we hope we can see some resolution of these price declines so we can bet on tomorrow and have a successful tomorrow. >> we hope the bank's exposure is manageable. thank you for your time. >> my pleasure. thank you. let's get to dominic chu for a "market flash." >> we are watching shares of sprint right now down near session lows off by about 4% to 5%. the stock moving lower on a bloomberg report that the fcc plans to fine the company $105 million for including unwanted services on their customers' bills. this fine was reportedly proposed by fcc chairman tom wheeler and must be voted on by the agency's five commissioners.

sprint shares down by 4% on this bit of news. we are getting you caught up with the big head lines outside of the market today, as well. the one stock that goldman sachs just seems to have an insatiable appetite for. location. location.

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the dow jones industrial average up 72 points. the s&p 500 up 6. the nasdaq down 6 about 0.1%. if you are just joining us now you are thinking boring market day? no. we were up and down. >> we were up 247 on the dow at the session high. that gives me about a 350-point range in the course of one day. >> which has happened a lot the last couple of days. that little story does not tell the entire story. look at wynn resorts. it is the worst performer in the s&p 500 this month. it's not a gas company or oil company. it's wynn down 20% this month. >> # not winning. >> that would be losing. let's change tone and let

you get caught up on other head lines. more than 140 people are dead, 132 of them children after taliban militants stormed a school in northwest pakistan. the siege lasted eight hours before coming to an end. the white house is condemning today's attack calling it heinous and horrific. australia's prime minister wants to know why a man who took more than a dozen people hostage was not on a terror watch list. he had a website with very extremist views and on bail despite numerous violence and sexual offenses. three people were killed in yesterday's siege. the flags in australia have been flying at half mast. time to get back to the markets. >> the former ambassador to ukraine gives us his take on oil, russia and mr. putin. stick with us. will that be all, sir?

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time for something we do every day at this time. we call it street talk. first up general motors rbc removing its buy rating from this stock. >> not a terrible call. gm stock down 11%. they said they are a little more cautious. price target is 35. a couple of bucks of upside there. if you own it pay attention to. >> goldman sachs upgrading to an attractive buy rating. >> appetite, grub hub. goldman likes the more reasonable valuation, less demanding expectations on the stock. they like grub hub. the ticker is grub. they removed price line.com from the conviction buy list.

>> monster beverage upgraded to buy. >> target boosted to 110. about 20% more upside on what has been a red hot stock. the same call upgraded boston beer to a buy. when it is beer we tell you twice. >> upping to a buy. >> you're the fashion. are crocs acceptable to wear? >> i did have a pair. they were wonderful for padding around in the australian beaches. >> $16 target on crocs about 20% upside. the analyst says it is about the man and the product because there is a new ceo who has 20 years of foot wear experience. they are optimistic. >> now for today's under the radar name above the clouds. it is spirit air. i love the ticker.

>> believe it or not they are walking on air. whoever thought they could be so free. nearly 20% upside. 15 analysts cover spirit air. average target slightly higher than 92. >> before talking numbers i like to do a couple of shout outs to people who tweeted in. you had the big bill gross interview because so didn't do street talk. some people tweeted in. we do it for you. >> that's right. we do everything for you, america and the world. including this. "talking numbers" our daily look at something from a fundamental and technical perspective. that is something today is the u.s. dollar index. craig johnson on the technicals. i will begin with you. how strong is the dxy looking technically? >> it has been a pretty interesting day in the currency markets. when you look at the first chart

of the u.s. dollar pretty interesting. we have seen about a nine-year price reversal. really the dollar has strengthened 10% since july of last year. you are getting to a point in time where we are starting to push up against major resistance levels and starting to see divergence. so if we see some sort of pullback in here your next area of support would come into play slightly lower at about 83.85. then when you step back and look at even a longer term chart, 20-year chart of the dollar you can see a very, very different picture. a huge multi year base starting to unfold in the dollar index. you go all the way back to 2001 you will see that that selloff in the dollar started at the same time the bear market started in the equity market and now you are starting to see a major base form and and you are also pushing out the big overhead resistance areas and we

ought to push through here. putting the dollar chart together with oil is that you are hitting a huge area of support for oil and running into a major overhead resistance area for the dollar index. if you see a pause and pullback and retest here that would set us up for a very nice rally coming into year end. that is what we suspect ultimately will happen. >> do you think we have a santa rally on the cards and what does 2015 look like for king dollar? >> i think 2015 will be a great year for the dollar. i think it is interesting when you have technicals and fundamentals lineup. i'm looking for a pullback in the u.s. dollar towards the end of the year with a rally next year. the reason for that is with the fomc meeting tomorrow i think a chance to drop considerable time language and yellen will down play hawkish tweaks. that could lead to further profit taking. the calendar is pretty much dead. i think towards year end with significant losses by a lot of

funds taken in oil we could see further pullback in the greenback. i would look at that as an opportunity to buy at lower levels for a stronger rally in 2015. if you realize that monetary policy will drift further and further apart next year with the u.s. fed policy leading the pack in terms of tightening and easing happening in other parts of the world. >> if you buy the u.s. dollar against which currency? what is your best trade idea? >> it is still buy dollars against the euro. i think there is a good chance we break 120 in the next three months. >> thank you very much. check out the online edition of "talking numbers." >> it is a big day tomorrow. a press conference, last one of the year. a lot of people suggesting that maybe that considerable time phrase that they have been throwing in pretty much the last 40 or 50 fed meetings could be

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volatility returns as stocks bounce between positive and negative territory today. how do you play this market? david riedel, this morning we were talking about russia. if i'm a u.s. investor what does it mean for me and is there a way i can play this to make money off it? >> absolutely.

you have to decide whether you think russia is being painted into a corner here and will do something ridiculous and something drastic like another military encouragement or try to get sanctions eased or pulled back a little bit. i think either way near term selling in ruble and oil is overdone where it is today and there is a lot of great emerging markets and global major players way to play that for u.s. investors. >> this being mostly visual medium we have a chart produced for our viewers. this is the s&p 500 this year. as we are highlighting with slick rectangular boxes this would be about the fifth time we have dropped more than 3%. the previous four have been buying opportunities. will this one be the same? >> really depends how people will digest the fed information tomorrow. i feel that they are going to keep their considerable time language there given everything that is going on in the world the last thing we need is a stronger dollar.

i think they keep considerable time language. i think that relates to relief rally among some of the other markets around the world. >> what if they remove it? >> i think weaker emerging markets will continue to be hurt so we would be worried about southeast asia and some other places. we would be long some of the energy importing countries like india and china that are major beneficiaries of lower energy and lower food costs in 2015. >> so you like the chinese market, for example, the eindia market. what about oil? are you seeing buying opportunities now? >> i think if you have a six month or one year horizon i would be buying in china and brazil, both beneficiaries of lower oil prices. i think if you have a horizon that gets you through the first quarter of next year i think this will prove to be a very good buying opportunity for the

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the dow is up 60 points. look at the oil services stocks. we are showing viewers the oih, the oil services etf. about 50% of this is three stocks. it is up almost 3% today. one wonders there has been positive commentary, have the oil services stocks perhaps bottom. >> this is one day after goldman and morgan stanley think it might be time to think about the oil services. huge interview to tell you about on cnbc tomorrow. general electric chairman and ceo will be joining us exclusively or joining cnbc exclusively at 9:00 a.m. eastern and you were pointing out just a moment ago that in case people have missed it ge has been buying oil related assets so it started with things like electric light bulbs. >> the knock was they were a

hedge fund that made light bulbs. now they shed the capital group and quietly becoming more of an oil and gas player. >> it is at 9:00 a.m. and not 2 p.m. >> i'm not awake at 9:00. russian ruble seeing free fall as hiking interest rates to 6.5 points to 17% he said. the biggest rate rise since 1998. rather ominous reference. joining us now is ambassador carlos pasqual. welcome, mr. ambassador. we appreciate you coming on. i guess i will start with russia. >> good place to start. >> has putin lost control? >> markets have gone beyond what putin can control directly. we have had a situation where up until now sanctions have affected the people around putin. they have created a cost for

him. you have had the collapse in the price of oil. you have had sanctions which have blocked russia's access to capital markets. russia can't refinance debt. you have seen situations where needed to issue a bond and resulted in local currency emission right behind ruble now. there is a critical situation where the economic situation and the political situation are directly effecting president putin in ways that they didn't do so a week ago. >> if you were president putin what would you do? you probably starting to blame everybody but yourself for all of the problems and pointing the finger at the west. it is all their problems and sanctions. that is why we are hurting right now. do you go so far as use this as a launch pad to be more aggressive? >> i think this is an opportunity to find a way out of this crisis because the way out of the crisis for russia is to get access to international

capital markets. you can't fix it any other way. russia needs access to capital, investment, technology if it will sustain growth of energy sector. the challenge today is for both russia and the west and in particular germany to create a framework that can also bring in ukraine not to create more of an international crisis on security but to begin to find the ways to resolve the ukraine crisis and bring russia back into a path of normalcy that will allow it to gain access to international capital. >> it sounds like a diplomatic solution. it sounds great but how realistic is that? it is realistic today in a way it wasn't a week ago. it is directly affecting president putin. the income of the population has gone from 14,000 to $10,000.

you can't refinance debt. you have more debt to finance coming up in the coming months. the situation is you have a crisis and can't get out of it and can't get international capital. today there is an opportunity to say there a solution here that can result in clarity about moving russia moving the troops out, not supporting the insurgency internally in ukraine and monitors that create transparency within the ukraine, within eastern parts of ukraine, allowing then some relaxation of access to capital markets. >> do you believe there was a loosely configured global push to kind of screw putin for lack of a better term and go to saudi arabia and do one of these things and pump more. we damage the russian economy. the problem is that we also now if that's true appear to be damaging the u.s. shale. do you think that's happening here? >> no, not at all. i think what happened on

international oil prices is a reflection of dampening of demand, huge capacity to maintain supply and a change in what in perspectives on the 3.3 million barrels a day of disruptions out there previously in the market. previously, that was what was created the political risk factor to keep prices high. we started to see was that some of that oil began to come back into the market with libya and nigeria and so the question became, wow, if american production is so high and this oil comes back into the market, where's it going to go? that's what's created this beginning drop of prices. it's within that context that i think that saudi arabia is doing exactly what it said it will do and fight for market share. it's going to -- it is looking at the growing parts of the international market which are in asia and it's saying, i'm going to keep my share and not sacrifice to iran, russia or anybody else. >> very quickly. how likely is it putin to brian's point is overthrown

through this? >> i think very unlikely. there's a difficult period of internal state aggression before you see something like that happen. >> amazing. he has a cult of personality there. >> no doubt. there's no social unrest. >> it was raining in sochi and i was joking about the weather with somebody working at the hotel, a russian inflational and only half sarcastically said maybe putin make the sun shine today. i thought she was completely sarcastic and realized it was a joke and she wasn't doing in it an offensive way to putin. >> they love him. >> you have to think about this from the perspective this is an individual, came into power in russia with the slogan of the dictatorship of the law. and that is exactly what he's done. and he's defined the law and dictated how it operates. and he will continue to do that and use every space that he can to do so. >> thank you very much. much insight.

we are going to keep the conversation going on russia. let's bring in one of the leading experts on that nation, don johnson and presumably heard the discussion on russia. anything you want to chime in on? >> you asked me to disagree with a former supervisor in the department. >> he's a former supervisor. so now you can disagree with him safely. >> i would put it a different way. i guess i would say that russia is a more than -- less than an economy than it is an energy export corporation. and that's -- this goes to the heart of the putin regime. but in terms of what carlos said earlier, i would say he's lost control of the economic situation for now but not the domestic political situation. that's going to be interesting to look at. he's painted himself into a corner where he needs this high in the 80s still public support which i do think is somewhat shallow to maintain his authority but there's not any near term sign to go down.

i think that's a longer term problem. once some of the economic hardships of now filter through the society. it's also the case that he's also bailing out his pals. and this does not look good and i think a lot of russians see this is going on. what this means for ukraine then is i would say despite the rosy scenario that the ambassador portrayed, a frozen conflict is much more likely. he can't afford to go further but play with the swedes and at the same time keep the separatist russian occupied east more or less as it is and try to do what he's been doing the past week or two and pressing kiev to take over the cost of this mess. >> how does he get back control of the economy and seems to be crumbling, the kushs currency a economy before our eyes. >> i'm not sure he can. you're seeing mechanisms to see

if that can be done. i'm not sure it can be and because one of the things you saw overnight is an expression by a lot of foreign and domestic investors there's not a lot of confidence in the central bank and the tools they have available. >> i don't know if you can answer this, don, but is russia a potentially great economy that is being held back or is russia a really bad economy that's being propped up? >> that's like -- that's asking whether my giants are good, bad team or a bad good team. >> depends on the day and the opponent. >> exactly, exactly. what you are seeing now is the reflection of many years of mismanagement, the lack of the rule of law, lack of a free market and takes a very long time to fix. so it's very broken. and what you have seen in the last decade is oil price allowed everyone to pretend it wasn't. >> thank you very much for joining us, don. >> thank you. >> fascinating. >> okay.

well, some holiday stocks studs which i believe you're pointing to yourself when you -- >> scratch. >> and a big fat dud and is that me? >> scratching for that, too. >> we have that for you next. stick around. you can bring back a lot of things from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around. can i go now? if you're going to do business globally, you need a cloud that can keep your data where it needs to be. today, there's a new way to work and it's made with ibm.

as promised, there are stocks that are doing well. stock studs you want. first up is a very surprising name that's the best performer in the s&p in december and it is

staples. spls. the best performer in the s&p 500 this month. guess who also is red hot, auto parts and discount clothes. o'reilly automotive and ross stores. >> one stock is turning out to be a grinchy this december. check out dnr, danbury resources. energy shares today had a bit of a bounce back, right? in fact i think earlier on the s&p energy sector up 3% and a bit of a bounce back there as we can see. >> we said it once and twice and a third time, lady right now, we have a huge show for you tomorrow. not because we're so good but we have janet yellen. the final fed meetinging of the year and the final press conference of the year. fed decision at 2:00. presser at 2:30 eastern time and then that considerable time

removed the markets could be rocked. >> exactly. we'll leave you with a look at what the markets are up to. worst day since may 2012. we have lost a lot of gains there on the dow. "closing bell" is next. and welcome to "the closing bell." i'm kelly evans at the new york stock exchange and you can say a lot of things about the stock market but not boring today, scott. >> you got that. i'm scott wapner. take a look at today's action. a wild ride for certain for yfs or thes. all about russia and oil and probably a little bit about the fed. kelly, by noon today we had already had a better than 300-point swing in the dow. remember, we were down more than 100 points early in the session. and one point we were up by almost 150 points. now almost