the final trade. >> still hasn't got the attention from the street. recent merger. i think it goes a lot higher. sfroo josh. i shares itv. >> i think it's for -- >> okay. >> ge bought a lot of that today with the call activity. >> have a great weekend. all of you have a great welcome as well. power begins now. >> halftime is over. power lunch and the second half of the trading day start right now. >> scott, folks, thanks very much. tyler here. manned where i drury along side for "power lunch," and that is how we begin. >> yeah, it is. happy friday everybody. well, today opportunity in india. something big is happening this weekend that will impact the etf's that track india's markets. we'll lay it all out for you. >> math and the markets. bob pasani put together some numbers that show a very clear direction up or down. >> and the coffee trade. the beans are down. starbucks is up. but is that all about to change? >> and mandy, we begin this hour, though with what investors are calling india's biggest economic event of the

year. the country unveiling its highly anticipated budget. the indian budget i never thought when i was a young fellow, that i would be talking about india's budget, but here i am. the indian stock market up 7% this year. outperforming the s&p 500 and the dow. soaring 40% after just the past 12 months. the question is will india deliver? sima and bob. tracking the big india etf. you first. >> tyler investors are calling it a make or break moment. tomorrow we will get the answer as to how prime minister modi who was elected on the promise of reform is planning to tackle some of india's biggest challenges and that's a lack of infrastructure. a complicated tax system. not to mention, corruption. now, if i understand wra wants to become the next manufacturing hub of the world, analysts say the country needs to spend more on infrastructure by investing in coal and power. it also needs to enable the

private sector to lead the next wave of growth. investors will be also looking for an update on monetary and fiscal policy with inflation lower, thanks to declining oil prices. will the central bank cut rates even further in 2015 and stimulate growth? lastly, foreign investor will be a key focus. especially as multi-nationals look to expand further into india. big promises being made by modi. expectations are high. the big question is will he deliver? we'll get that answer tomorrow. let's go to bob. a little closer to home. bob, you have been tracking the major india etf's. what are they telling us? >> it's a big country. a billion people. a lot of investor interest. 5% gdp. there's a lot of choices, too, so. the big kahuna. this is inda that's the symbol here. it's market cap weighted. it's the msci. you get a broad cross-section of india. take a look at the chart here. you've heard from seema and modi

came into power, the moves were dramatic in this particular group. look at that. very liquid. a million shares a day. that's the good news. you don't need to have market cap weighted. it's a whole class of etf's out there called smart beta that weight indexes in a different way. the leader is wisdom tree. they have an india earnings fund. just like it says here. this is a fundamentally weighted index. it measures the performance of companies in india that are profitable instead of market cap weighted by profits. it's based on earnings in the prior year. got 2.4 billion under management. that's very good. h very liquid. four million shares a day. it's even a little more volatile than the imda and it's outperformed the market cap weighted index. the imda that i just showed you. you can get very specific with these etf's. even in india. let me show you the third and final one. you can actually buy india's infrastructure if you think that's what you want. these are 30 companies that are the india infrastructure business, and it's market cap weighted. let me show you this. this is the most volatile of all

of them because it's a small group of companies. i would also note here here's the down side low volume of trading for this. more volatile than the other two. i will also know tyler, very low assets under management. that's not normally a problem. that can make these prices move around a little bit. just a factor but a lot of choices. sfroo bob, thank you very much. bob pasani reporting. >> down a little bit today, but it has been a great month for the nasdaq. up 7% for february. edging closer than 5,000. as we point out, down about 11 today. bertha coombs following the big -- >> we actually got about within 12 points 5,000 at the open before falling back. it certainly doesn't help that am today is back below $130 a share. you have a lot of leadership today, a lot of stocks at fresh highs, including monster. ross stores as well.

firing on all cylinders. and an all-time high. then you look at some of the old guard that still haven't put out and made their new all-time highs. cisco, intel, microsoft still haven't hit new all-time highs, but these days they do give def dendz, and that's one of the interesting things. more than half of the nasdaq 100 issues dividends, and they're fairly handsome. 3% or more. back to you. >> all right bertha thank you very much. to brian sullivan for a news alert. >> thanks tyler. looking at the baker hughes rig count. it's one of the more important numbers out there. oil and gas rigs dropped again. down 43 last week although 33 of those were oil. ten were gas. overall we're down 502 oil and gas rigs from a year ago. 444 of those were oil. the baker hughes recount is drilling rigs down 43. guys, this is interesting. we bring up an intraday chart of oil. maybe the market was expecting more future production to come

off line because when the numbers came out, the price of oil did not stabilize or go up. it tropicaled. in fact, about a buck a barrel. we're now at $48.60. we were above $49. you can see maybe the market expecting, guys more drilling rigs to come off line and i say this every time we do the numbers. again, again, again. drilling rigs are going down but production is going up. the amount of oil we are producing in america is at an all-time record high. 9.28 because of the rig that is are coming off are bad wells. good wells are producing more. there's more oil. fewer rigs. down the road we'll have less production theoretically, but right now it's the highest it's ever been. >> okay brian. in about an hour and a half time you also have that oil close, so we'll be watching the price of the intraday moves all the way to 2:30 eastern, folks. that is when crude is going to close for the day, and, of course, the week. well, let's talk about a month, though. it's been a great one for starts with the dow. the s&p up around 6%. the nasdaq higher by over 7%. where do we go from here?

especially if and when the nasdaq hits that psychologically important 5,000 mark. joining me now is katie nixon, chief investment officer at northern trust wealth management. we also have eric chief investment strategy sdwris at russell investments. great to have you both with us. since you're standing right next to me, i'll start with you. it's a simple question to ask. maybe not so simple to answer. that is where do we go from here? >> well, we think the direction is up manned where i. especially with u.s. equities. with solid fundamentals and a lot of the bad news behind us. you know having gotten past the energy freefall past the ecb announcement, and now really focused on a fed that really does seem to be very very patient and will probably be slow and quite deliberate in terms of changing policy. >> what about the earnings picture? this is something that bob has been beating the drum about. might even beat the drum later on in our show. the picture there is deteriorating. does that not worry you? >> you know it does. we're actually watching that quite closely. we have about a 3% earnings gain number for the s&p this year but we're subject to revising

that as ooeftsz unfold. we see headwinds there and currency headwinds for sure. so that number is subject to revision. if your horizon is over the next 12 months we like stocks we like u.s. stocks we like maybe europe a little bit more. if you are going to trade it there's a chance that what you see the market is going to trade flat after the big gains in february, which i think is really a sign that the market had processed the first quarter earnings. >> the comment you made a moment allege eric that you like europe a little bit more than you do the u.s. how would you be playing that right now some for example, sort of what -- what allocation would

you be 2k3wi6g to europe? how exactly in europe? europe is a big place. >> we're finding out a very different diverse place. >> you want to page more money in the peripherals, but we want to take a lot of risk. we think probably the right place. core europe. look at multi-nationals. they'll benefit from an improving kind of european domestic economy. the numbers are clear that that's happening, and they're also going to -- they're actually going to benefit seriously from a weak euro. imports -- or exports will be up for them. imports will be up for us. our exports are going to go to be down. the ecb is printing money. they are really aggressively getting out there and that just makes stocks more attractive in our opinion. >> let's move around the world a little further afield and that is to emerging markets. i know that one big change you made the past month is that you started to categorize monetary policy as a -- does that mean you're getting more bullish on the equity picture as well? >> it's too early to get

bullish, though manned where i. we're accommodative of policy but it's a function of very much slowing growth across the emerging markets. >> how do you feel about europe? quick thoughts? >> positive on europe. for all the reasons that we're just stated. i think it's interesting the multi-nationals have 60%, 70%, sometimes 08% coming apart from europe. the weak euro will be a clear tail wind to them. >> okay. thank you so much. to katie and also to eric. you can also check out aircraft's international play in more detail. can you go to power lunch.cnbc.com right now to see if maybe you should also be thinking about adding european equities to your portfolio. that is power lunch.cnbc.dom. ty. >> mandy, fantastic february. the dow and the s&p up 6%. new highs for them. the nasdaq up 7.5%. edging ever closer to 5,000. potentially to new highs there. what will march hold for investors? remember folks, it was march of

2000 dominik, that the nasdaq hit its all-time high. >> it was also march of 2009 that we hit our lows during the recession. march is -- >> it's an interesting month. >> it's an unusual month. >> take us through what could lie ahead. >> this is again, notst it's noting to we can predict what's going to happen. a lot of traders and investors like looking towards historical clues for what might happen in the future. we asked our data partners over at kenshow, the data and analytics firm about what happens. if you look at the s&p 500 so far year-to-date a respectable 2.5% gain after two months worth of data on the books. now, if you look at the overall picture of what march holds, they crunched the numbers, and they found this. first of all, the s&p 500 posts an average return of over 1.5% for the month of march. over the last 20 marches. that's interesting. historical data no proof it's going to predict what's going to happen. still, over the last 20 years, the -- it's up about 70% of the time. pretty good odds if you look at the last 20 years. the dow jones is up about 1.5%

and it's up even better. a 75% time of the time. three out of every four times the last 20 years it goes higher. the notable lagger here is positive enough. i saw up about three-quarters of 1%, but only positive a little over half the time. now, take a look at the sector stand-outs. they also looked at those as well. sector etf's over the past 16 years. that's how long they've been around. industrials, the xli as well as utilities, the xlu, two of the better performers with some more positive at least hit ratios on that side of things. back to you. >> all right. thank you very much. let's take a look at coffee prices shall we? this month down 12%. coffee the most volatile commodity in the past year. fueled by changing weather down in brazil. that's the world's largest producers and exporter. rains have improved the crop prospects. prices now at their lowest level in a year. what does that do? it helps the coffee stocks.

starbucks with its tenth ranked high. there you see it a little off today at $93.08 but the stock is up 40%, mandy over the past one year. >> one of the most popular places for custom suits is hemmed in by a talent short arch. that's when "power lunch" comes back.

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we're watching shares of weight watchers today. the shares are tumbling down more than 30% after the company reported disappointing results. it's its new 2015 guidance of earnings of 40 cents to 70 cents a share are much lower. they were looking for $1.43. weight watchers, very much in the red. >> i think it's lost more than half its market value ---ing course of this year. young brands jumping after the company announced it will allow investors to nominate board members. you might remember. citigroup and joan electric also gave shareholders proxy access. black rock closing in on an investment deal with fitness

bands maker jaw bone. considering investing up to $300 million. and potbelly considering investing in a company outside the restaurant strir. it's fallen more than 37% in the past year. ty. >> mandy has come to symbolize around the dmroeb. the custom-made suit. it is now coming under threat. >> mark zucker burg may still like his hoody, but the rest is shifting away from -- the problem is there's a taylor shortage in one of the world's top markets for custom suits. >> right now i'm wearing the most recent suit i have received from empire. >> paul leaf often flies to hong kong for his custom made suits. so does richard. >> it's at least once a year sometimes twice a year. >> demand in the u.s. for these suits is so strong tailors are coming here. >> this is a classic. >> like anthony, who founded empire tailors in hong kong over

30 years ago. >> hong kong is known globally for well made custom suits, which cost a fraction of those you would buy in europe. demand subpoena for return in popularity for business formal thanks to don draper. here's the problem. mark says the spoke prices are rising. not due to materials, but a lack of quality labor. >> i think $1,000 is the average price because we just don't have enough tailors. >> that's what he said in los angeles recently, and back in his shop in hong kong he says the number of stores like his are shrinking, and the average age of tailors now 60. younger chinese are not interested in this career. >> i think people would rather do this. the younger generation but this. >> a suit that used to take five weeks to make and ship from hong kong to the u.s. now takes twice as long. some tailoring work is moved to mainland china, but he says the quality is not the same. >> shoulders are proper? >> yes. >> empire hopes to find new

talent soon. customers like l.a. lawyer shareef are counting on it. >> once i started having to wear a suit a lot for work i really began to appreciate the difference in quality as well as the fit that you get from a tailored suit. >> of course what happens when there's more demand than supply? prices go up. if they gup too much guys hong kong will lose its price advantage over europe. i like what he said though. young chinese would rather do this than this. >> very true right? so true. it's even just the image of it isn't it? >> yes. >> new generation. thank you so much jane wells. oil, meantime trying to end eight straight months of losses, but this may not be the end of the slide. why they're still saying oil will go down to $20 a barrel. plus, crime and punish am. andrew day as usual, on the case. >> the credits are finally rolling on the hollywood movie scam after studio heads -- it's all coming up right here on "power lunch."

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a 401(k) is the most sound way to go. let's talk asset allocation. sure. you seem knowledgeable professional. would you trust me as your financial advisor? i would. i would indeed. well, let's be clear here. i'm actually a dj. [ dance music plays ] [laughs] no way! i have no financial experience at all. that really is you? if they're not a cfp pro you just don't know. find a certified financial planner professional who's thoroughly vetted at letsmakeaplan.org. cfp -- work with the highest standard. >> ten years? five years? they're all dawn on the day, but not very much. they're all down about eight basis points on the week. as you look at the following charts, all the day before that january 22nd, ecb meeting, it's very fascinating. there's your tens. up 15 basis points. your boons down about 20. here's a good one. the euro currency was around

116. now at 112, and breaking down. dax up 111. seems like europe and qe is the focus for the next month. back to you, tyler. >> all right. rick, thank you very much. more than 700 investors were all looking to make it big in hollywood, but instead of making their box office dreams come true, they've turned into a financial nightmare. andrea day has more. >> we're talking about $21 million. that's what investors handed over to a movie studio. thinking of projects like a 3-d version of the wizard of oz. at least that's what the studio has promised. listen to this. >> i believe we can not only execute the films that we have in our development, but we can execute them and have them become successful. >> that's david prichard. he was once a producer on hit tv shows like "family guy" and "the simpsons." that was before he signed on with this company. gigapix studios, and began raising money to produce what

was supposed to be a huge hollywood blockbuster. according to prosecutors, the only thing gigapix produced was fraud. >> there were over 700 investors who put in a total of over $20 million, and absolutely nothing was done that could make any money for anybody. >> it all began in 2006 which gigapix studio founder brought on prichard as president of the company. to fund the studio's upcoming project, they hire telemarketers zoosh the telemarketers at gigapix targeted people who were not wealthy and had no idea what they were getting into. >> and what they were getting into was a financial disaster. with debt spiralling out of control. >> they couldn't pay salaries. they couldn't pay their electric bills. >> but they continued to solicit funds. assistant u.s. attorney ellen lindse california sfwloosh they told investors that they were doing great and that they were going

to be making this movie oz 3-d that was going to bring in huge amounts of money and all kinds of returns to the investors, but rather than making the movie, had he took the investors' money and threw it down the garbage disposal of gigapix's previous debts. >> oz 3-d was billed as an animated remake of the wizard of oz. we found this video news release on-line. seemingly meant for investors. >> oz is a critical part of our growth. >> daniel zucker claims he is one of hundreds -- >> we're going to interrupt this for some breaking news. >> sad news to report. aig just announcing the death of its former president and chief executive officer robert benmosche. he was 70 years old. as you might recall he had undergone treatment for lung cancer. he died according to aig. at 8:15 a.m. at nyu langoen medical center.

his family was at his side. they said we will never forget that under bob's extraordinary leadership the people of aig repaid america in full plus a profit of nearly $23 billion. if you are -- if you remember in the 2008 financial crisis aig suffered some very significant losses. mr. benmoche was brought in in august of 2010 to september of 2014. that was his period of tenure with the company. he was responsible for basically repaying all of that taxpayer assistance that aig had gotten from the government. some $182 billion according to aig. previous to his tenure at aig, he was the former chairman president, and chief executive officer of metlife. our mary thompson interviewed mr. benmosche several times, and i know we're going to have her working on that and others who dealt with aig during the financial crisis, but once again, the company, aig announcing as they say with

great sorrow the death of robert benmosche, 70 years old in new york city. ty andy back to you. >> thank you very much sue. our thoughts and prayers do go out to his family. we'll be back in just a couple of minutes time. stay with us here on cnbc's power lunch." the lightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest... ...harshest... ...or nothing. at mercedes-benz, we do things one way or we don't do them at all. the 2015 c-class. see your authorized mercedes- benz dealer for exceptional offers through mercedes-benz financial services.

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welcome back to power lunch. breaking news from federal reserve vice chairman stan will you fisher who says the markets funds rate rise will happen sometime this year but giving no actual detail about when. he is talking here at the university of chicago monetary policy conference in new york about the central banks enlarged balance sheet. he says the fed's big balance sheet does provide challenges to raising rates, but he is confident they have the tools to overcome those challenges. the asset purchases he says provides stimulus to the economy, including, he says lowering the unemployment rate by 1.25% and increasing

inflation, he says by half a percentage point. the affects of qe on the economy since they lag, he says are only now manifesting themselves. the risks, though include financial instability and he says the fed is mindful of those. we'll ask stan fisher about these and other questions regarding the economy. politics and the fed coming up at 3:20 on "closing bell" in the exclusive interview we have with him. back to you. >> quick questions. number one, is that statement about interest rate rises likely later this year as definitive as anyone on the fed has been on that point. >> it is tyler, but just be clear, he is making a statement of fact here. if you look at the fomc projections, they do, in fact, anticipate a funds rate rise sometime this year so i'm want sure the end itself is giving any meat on to the bones. >> it's not anything that is materially different than what has been stated or implied before. let's move on to the other news that just broke a few moments ago, and that was the report

that bob benmosche has passed away. i know you have spoken to him in the past. any reflections? >> i, of course covered aig in its relationship to the federal reserve, which loaned aig an awful lot of money and, of course, it was repaid in full and i just want to reflect on his single-mindedness of purpose. he seemed to come in through that company with an absolute -- it was really one of the national pariahs, and ben seemed to really ignore all of that and focus on what needed to be done which was to refocus the company, get it back on its feet to profitability and then also repay the government and i was always very impressed with how with all the stuff going on around him, and all the negative criticism of the company fall by the wayside as he focused on exactly what he needed to do and he, of course did get it done as sue said earlier. >> thanks very much. steve liesman reporting for us. let's meantime go over to sue herrera for an updated.

>> here's what's happening this hour. we go overseas where the greek finance minister said that greece used creative ambiguity, that's a quote, to win a loaf lifeline from its youro zone partners. in a prerecorded tv interview that aired today, he said greece had been encouraged by some countries to draw up an economic reform plan that was full of ambiguities to get that loan extension. the senate has passed its legislation that fully funds the department of homeland security until the end of september. in past without provisions attached by the house republicans, the bill now goes to the house. new york fed president william dudley telling a forum hosted by the u.s. -- that the risks of hiking interest rates too early are higher than the risks of waiting citing the current low rate of inflation. on a sad note leonard nemoi has died. he died in bel air in los angeles. he announced last year he had

chronic obstructive pulmonary disease. he was 83 years old. and that's your cnbc news update this hour. we're going to go over to dominik now for a market flash. dom. >> a sad day. especially for star trek fans like myself. also watching what's happening now with shares of sprint. the stock is moving towards its highs right now today on a filing that the company's ceo filed that over the past couple of days he had purchased around five million shares of his own stock. again, the sprint ceo saying in a regulatory filing he has bought about five million shares of his own stock over the last couple of days. that current price is around $25 million. back to you. >> okay. thank you very much. a really big buzz today about this dress, folks. a social media debate raging over exactly what color it is. is it white and gold? is it blue and black? is it something else? people are seeing both. what do you see? >> i call it white and gold. >> i do too. i see white and gold. definitively.

however, it's definitively not quiet white and gold. it's actually blue and black, and was it worn this morning by a model on the "today" show and i believe the original dress, ty was worn by the mother of the bride at a scottish wedding. >> what is going on here? i mean that is as blue as it gets right there. >> it is as blue as it gets, but obviously it's optics and lighting and shading and people see things differently and all that kind of thing. nonetheless, there you go. it is. >> what color is this suit mandy? >> purple and orange of course. what are you talking about? >> all this discussion about what colors you see gets us to this. what do you see in the market? green or red? up or down? just like the dress. you can see what you will in this market. bob pasani says the market is feeling red to him. market analyst going to weigh in on that but, first, bob, why red and not green. >> i can see yesterday that

we're stretched. we're well above their 50-day moving averages. when you get that far stretched, the markets tend to take a breather. i want to quantify that. i want to show you what's going on. take a look here. right now the s&p is 1.7 standard deviation from 509-day moving average. it just shows you how far you are away from a mean. point is it doesn't happen that often. on t only happens 9% of the trade days. when we look at how that's happened and what's happened immediately after, the markets have tended lower 78% of the time. i didn't say a number how much but it just tends to tend lower. absolutely down. a little more down. the point is it's stretched. here's the second thing that worries me. earnings are coming down. now turning negative to the first quarter. this is for the s&p 500. last quarter in 2014 the same period $27.99. it's below that. same thing with the second

quarter. these are estimates, but it's below the second quarter of 2014. i'm saying that this is a reason to start taking the look of the overall market and it's not just oil. the oil is the biggest contributor to the decline. guys back to you. >> that was certainly one of the things that you were just muttering a moment ago. >> muttering? >> yeah absolutely. >> let's bring in cnbc analyst kenny. what color are you seeing? red, green? maybe another color. flashing orange. i don't know. >> no, no. i see red here. >> i have to tell you, today like bob said it's a relatively quiet down. it's the end of the month. people are kind of positioning. he has made a number of points in terms of how the market feels tired and exhausted. there's really no reason for anyone to be really really let's go get them bullish because some of the macrodata continues to be a little bit unexpectedly weak so it's just a time for some caution and let the market catch up with itself

because a market that turns lower over the next couple of weeks, like bob said doesn't have to be down 10%. it could be a 2% 3% 4% pullback, which is healthy in that range. >> we're seeing even this week in the last few days market has been very sort of flat and slightly down trying to consolidate those gains. 5% up in the s&p this month. two guys who can rock a red strapless. you too. right there. you can read bob's full article at cnbc.com. >> also this hour, ty, google just relives lesion a batch of renderings from mountain view, california. the tech giant is working with a london-based design firm heatherwick studios, and danish architect that came up with the designs that would be home to its more than 20,000 employees. google plex, the nickname for the company headquarters will include bike and pedestrian paths. it still needs to get approval for the highly divisive project for the government. looks beautiful, doesn't it? with executive -- is jamie

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welcome back to power lunch. the house of representatives is having difficulty passing the three-week funding bill for the department of homeland security. members are scrambling to try on the republican side to try to round out the votes. democrats are holding out. we're going to have to watch this drama this afternoon to see if they can, in fact avoid the shutdown of the department of homeland security with republicans that said they wanted to avoid. back to you. >> thank you very much. john howard. well hockey with a heart. private equity pros and wayne gretzky wannabes took to raise money for pediatric cancer group band of parents and msg's garden of dreams foundation. it's the second annual play like

a pro benefit. >> standard charter naming bill winters says its new and next chief executive ann sdash long line in jamie. >> it's the question -- inside now from two people who know him and know him well former harvard business review editor suzy welsh who was a baker scholar at hbs. her fourth coming book "the real life mba" was co-written with her husband, jack welch, a legendary mentor to future ceos in his own right. also with us the award winning journalist and author duff mcdonald, whose biography of dimon is called last man standing. welcome back to both of you. suzy, let me begin with you.

is the notion that jp morningan chase and jamie has minted several ceos now at standard charter, at first data at visa is that a sign that he is a great mentor or that he is deficient at finding ways to keep and retain key and talented executives? >> i think it's a sinl that he is a great leader. i mean as leaders, what you really want is to grow people and to make them into leaders themselves so that they can bring up people underneath them and i think that every leader gets -- every good leader gets really turned on when their people grow and sometimes that means that they grow and stay with you, and, of course that's what you want. you want your place to be where great leaders stay but sometimes they reach the top, and they're not going to be ceo, and so for people who want to be ceo, youment to celebrate them when they go out the door and to their next place and stay friends. i think this is a sign of what a great leader jamie is. >> it's the same question as to whether this is a sign that he

is letting people get away and specifically were any of the three individuals that i mentioned there, were they possible heirs apparent. >> i'm not sure any of the people there, bill winters, cavanaugh, frank or charlie sharp who is now at visa were really he irs apparent. i think it's a sign that he is a good leader. i think it's also a sign that he is running a giant company and hiring the best people. like, if you look at infantry the business units at jp morgan right now, anyone who is running one of the major businesses there is essentially running the equivalent of a fortune 100 company anyway. the investment banks is the biggest of the country. their retail cars and branches are the biggest in the country. gordon smith or daniel pinto, they are effectively ceos, the biggest of their kind anyway. it's the curse of size and success. you want to hire the best but these people end up getting noticed by people outside the company. who is not going to try and pick

them up? >> suzy to duff's point, some companies have historically been known for, a, hiring the best and the brightest and for being ink baiters of future ceoss. jack's general electric has been one of them. many executives have left there to go and run companies. they've been known famously for people that have come out of. google and microsoft the same. is it something in the culture of the companies as well as the leadership of the person in the corner office that mean -- that makes this happen? >> look, as far as culture goes, you want to create a culture that is incredibly exciting and it actually makes people want to stay there. okay? you want to create a place -- the basement of the cool kid, everybody wanted to be in that basement of that house. you want to create that basement where people want to stay. you raise up these great leaders, and, look you want to have a culture that makes them stay, but also you have a culture. it is -- i wouldn't call it a

curse as much as it's a pair docks that you are creating this great culture to make people want to stay but if it's a healthy culture and you are growing leaders and other leaders get turned on by the fact that other leaders are growing up around them then very naturally some of the people are going to have to leave because otherwise, they become blockers. if they've not been identified as the people who are going to be on the ceo short list then they have to be able to be set free, and you wouldn't want to keep them with them feeling like as frustrated as it can be to know that you have no growth. >> and indeed, duff mcdonald, jamie dimon himself was let go at the old city by sandy weil his patron for so many years. he then went out and ran bank one and comes back eventually as the head of chase. sometimes leaving is the best thing you can do career-wise, right? >> yeah. >> certainly was for him. >> yeah. i think with respect to sandy and jamie, you know that's a little different from what we're seeing at jp morgan now. you know sandy clearly felt

threatened by jamie, who is emerging as a very significant and well known factor on wall street back then. today -- jam where i was ready to take the reigns. today, you know jamie is not going anywhere. the board wants him there. he likes his job. he is good at his job. he feels he has work to do. if are you one of these people underneath him and you are sitting underneath sxwramy dimon, you want to be ceo, you probably are better off looking somewhere else because that seat isn't opening up any time soon. >> duff thank you. great to see you again. always terrific to see you. we appreciate it. >> thank you. well, twilter is going after bullies. is buying a new car a bad move, and college recruiters pursuing the son of lebron james, who is 10 years old. should that be against the rules? the power rundown is next.

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they can do it by phone number verification. you got a lot of haters on twitter. is this too little too late? >> it's interesting because it prevents people from becoming auto bots. they can't say one name and then it gets block and then it's mandy two and three and four. et cetera, et cetera. this might be an easier way to police this. if you are an enterprising bully, you'll always find some way to get around this. >> beverage give people your phone number? >> have i no idea. >> i don't remember doing it. i think the problem with twitter is because it's an anonymous place. you can be a meany and a bully. >> the minute you drive a car, a few car off the lot, it loses

20% of its value. >> my -- mandy, never buy a new car because the minute you drive it, it's going to deappreciate. that's why basically he bought me for my first car a $7,000 gemini. that's what you get. >> you don't see manufacture those. >> mine was an 1984 toyota corolla. my last car was a new car, but when i buy a car, i drive the thing into the ground so my car is 10 years old, and it's got 125,000 miles. it's going to keep going until i somehow -- >> my first car, folks, was in 1969 malibu. >> you win. >> yeah. i buy. >> lebron james calling out for recruiters for trying to recruit his 10-year-old son and saying it should be a veelgs. is it any -- is it any surprise? a lot of other countries, people are -- >> china still does it from an

early age. >> we've watched the number of athletes become younger and younger and younger. now there's pro-run camps for junior high schoolers who are playing football. i mean this is neftable. it could be better to see regulations in place that protect some of these kids before they really are exploited. >> mind you, mr. james is not completely blameless. he is saying -- he is saying i want my kid to be a kid for as long as possible. however, he also tweeted out a video of his son playing in a tournament back in december, which, of course fuelled -- >> draws attention. >> draws attention to him. >> some of the superstars' kids have not turned out to be all that great. michael jordan's son was not a tremendous -- >> sometimes living in the shadow of a famous parent. >> snoop dogg's son was highly recruited going to ucla. >> thank you very much. mandy. >> okay. a 73-year-old veteran shoemaker is changing his game to indicatetory celebrities. you have that story for her us, kate rogers? >> we'll tell you how he went

from meeting orthopedic shoes to these. >> this is going to be around 2,000. this sold for $12,000. about $4,500. you get both shoes. you get the left and the right. >> that story next on "power lunch."

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>> coming up at the top of the hour oil's magic number. crude oil really sent us away from seven straight months of declines. we're going to count you down to the oil close at 2:30 eastern time. also, traumatic new video of clashes on the streets of athens, and melissa and i will reveal stocks of the week. it's coming up at the top of the week. first to manned yea and tyler. >> he went from making orthopedic shoes to making custom sneakers for celebrities. >> 73-year-old who really is changing his game isn't he? >> he is. >> after working with him since i'm a wrung teenager and i'm still here. he is now a go-to for shoes made

of exoticlets and the kind that sneaker enthusistists have for thousands wresh fwot into relevant custom tiz urging of his son, john and the technology that they needed was already in place to make that switch. >> the stitching we have here with the machines and the operators we have here allows to us do this intricate stitching, and so it's this intricate stitch and the ability to perform and make stuff of this kind of quality that's allowed us to make the segue into the sneakers that were -- >> necessity got a pair of kicks on jayze was who was photographed wearing them at a game with beyonce, of course and more orders started coming in. the redesigned sneakers can cost $2,000 to $10,000. he is gaining clients like justin timberlake, 50 cent p. diddy and even an arab sheik. more importantly, an entrepreneur in his golden years is having a ton of fun. >> it's kind of like the story

line of kinky boots, which is also based on a true story. >> his story is amaze, but the best part is he was wearing new balance sneakers from marshalls. he is not drinking the cool aid. >> $5,000 $10,000 for a pair of sneakers? >> it's the leather quality. it's all expensive imported stuff. >> all about -- all right. kate, thank you very much. >> thank you. >> that will do it for the first hour of "power lunch." heading over to brian. take sir. >> you guys have a great weekend. okay. it is 2:00 on wall street. 11:00 in l.a. the dow and the nasdaq are down slightly, but right now oil is the story to watch. in less than 30 minutes, crude oil trading will close to the nymex. your magic number $48.24. if we hold above that level, it will be the first monthly gain for crude oil since last june. oil right now right in the low 49s. $48.93. last half an hour has always been wild the last few weeks. especially on fridays. we are watching that closely. oil, though is down 50% over

the past year. if you haven't heard this before, you are going to hear it right now. this is the fourth fastest and steepest oil price drop ever. let's dig into that. the macroimpact and much more. melissa joining us. we have dan greenhouse chief global strategist with btig and, dan, as our viewers know we have said there is a negative side to the oil price drop story. it's not just all good news. you've had a lot of economic data the last few days. how is it playing out? i'm sure that's not totally unrelated to the drop in oil prices.

>> it's undeniable that energy investment energy employment and the like has been a positive for the economy over the last few years, and i'm not sure how to quantify it yet, but i just find it hard to believe that -- >> i'll do it for you. 2% of all new jobs in america the last five years have come from technical texas, which is 9% of the population. >> i mean -- >> not all oil-related, but believe me it's a derivative effect of the restaurants, everything. >> sure. this debate and discussion with clients. i don't know that i endorse the full-throatedness of those numbers. i think things are a little smaller than a lot of people are arguing. there's no doubt that for texas and so on and so forth, the energy would be positive force for investors. >> what is so remarkable is that so many ceos and conference call advisory said that they weren't seeing the impact of lower gas prices floating through to

increase spending. >> they're translate it to activity that will fuel the economy, or is it simply that they feel better? they may be driving more because they can afford a couple of gallons more of gas. >> this is seen most acutely in the now infamous comments from visa where the ceo talked about how consumers haven't really ramped up spending and in response to -- it's as good as the quarter was from consumer spending standpoint we haven't seen the full thrust so to speak in terms of consumers responding to the decline in oil prices. >> when will we see that? at this point we're seeing -- we're seeing the price of oil seemingly -- they're trading at a $10 range for this year. >> listen we in the market move much faster than the broader economy, obviously, and i think for consumers a lot of it probably has to do with whether or not this is going to be perceived as a permanent drop or not, and if oil prices shoot right back up then consumers tend to not change their behavior. this is sort of the idea behind

those -- something i will not bore our viewers with. it tends to show up three, six, maybe even nine months. again, i just -- it's very hard to do the math and not believe that oil stays down. not necessarily only at these levels, but down in general that the consumer ultimately won't benefit. >> they will but the consumer has been burned. i mean, you don't have to be a market genius dan, to figure out that we have been burned before. we have been here at low gas prices. you turn around six months later. they're up at $1.50. you can forgive the american population and consumer for being just a touch cynical about the economy. >> that's fair. it's been a tough recovery. something we talked about was a major topic of conversation. how manufacture the big energy strategists. ptig doesn't forecast energy prices but manufacture the big energy analysts say the banks all think that as inventory

accumulates off shore on ships and the like that there's ultimately another leg down for oil prices chshgs will in turn influence gasoline prices to the down side further. so there's a lot of uncertainty, not just on main street but on wall street so to speak. again, ultimately all else equal lower gasoline prices are good for the consumer. i don't find it difficult to agree with that idea. >> all right. dan, strewned. let's turn to housing. pending home sales hitting the highest level in a year and a half last month. as you may or may not know pending sales a signed contract that has not gone to closing yet. while today's report could foint a strong selling season one factor is really keeping the market from booming. diana has a story. diana. >> and boom is the operative word. baby boomer in fact. the biggest roadblock in housing today is not enough of these. scarce supply. one reason the suburban baby boomers are not downsizing the way we thought they would because they're getting sticker shock from urban condos. we met betsy freelander and mike

clipper. they raised their two sons if their 3,000 square foot bethesda maryland home. now they want to down size and move to a more walkable urban wrar. they searched for over a we're. >> we were shocked because we thought, well, you know we would be able to sell our house. maybe put a little money in the bank and buy something that we could be comfortable in. >> maybe some new construction. well, their house, mind you, would list for well over $1 million. they were willing to make a lateral move. forget putting that money in the bank. what they found for their money was so small. they just couldn't stomach it. they're stale put. it's been happening all over the country. it's part of why inventory is down 9% from way a year ago. that according to realtor.com. one agent we spoke with james bearweather, said at least half of her boomer clients would want to move and are having this problem. she tries to get them to picture what rooms of their big houses they actually live in. the answer is usually the kitchen, the family room and the bedroom.

added up, it's the size of a condo, but boomers, she says they just still are not convinced. back to you, guys. >> all right. stick around, though. we have dan with us as well. we want to get both of your takes on this. this is a fascinating new report from trulia that pretty much blows a hole into the common wisdom that young people don't want to buy homes and that they also want to live in these little tiny shacks. okay? trulia found that of those surveyed who want to own, they want to own a home that is either the same size or bigger. in fact dan, no group wanted a home bigger than the current home they live in now than the millenials. does this prove that the housing market will be alive and well ten, 20 years from now? >> listen, it's clear at this point that you've got a bift a secular decline in the homeownership rate. that's been going on for a couple of quarters now. at the end of the day -- i'm on the outskirts of that millenial generation, but i do -- i am young enough to remember my desire to not want to live at

home with my family for even one minute longer than i had to. i don't think -- >> and their desire for the same, no doubt. >> yeah. i don't think the recession, as damaging as it was to many aspects of the economy, i don't think it's changed the desire of 20-something-year-olds to live by themselves. >> diana, what do you make of that? all you hear about is you know the young people of today. they want to ride their bicycle to the beard shop and, you know live in a tiny little urban environment. actually, trulia has reported saying people want big giant homes. >> no. wait. >> you are going to dispute trulia? >> no offense to them. no offense. i don't buy it. i talk to millenials every day and they are debt-averse. they do not like the big homes that their parents lived in. so many of them that i talk to, they want to live in the urban walkable areas. some want to live in the suburbs when they get a family. they say that but they don't want the huge houses. they don't want the huge taxes. they don't want the huge debt burden. also, they're not living in these crummy tiny houses. some of the tiny house that is

are a big movement among millenials and even smaller apartments, they're very high-tech, and they're very social because they have these common areas. that's what they seem to like right now. i don't see the mcmansions coming back. i'm sorry. >> it's okay. you can read this a couple of ways. listen, if your current residents as mine was in brooklyn performs a 325 square foot single apartment that anything would be bigger than that. just bigger than your current residence. if it's the closet in your grandma's basement anything is going to be bigger. diana, thank you. >> sure. i would like to live in a bigger house too. >> dan, thank you. and to your parents for throwing you out so you can become the man you are today. >> thank you, sir. >> have a great weekend. let's take a look at some of the big u.s. homebuilder stocks and how they have done over the past year. it's pretty much the biggest of all the main home builders. lennar up 13 wrerz. pulte up 6. california, air, a texas. look at these stocks this year.

toll and lennar up double digits. kb homes down. >> dom has a market flash. dom. >> melissa, shares of southwestern energy are among the worst performers in the s&p 500 today. knee been lower all session long. they're down close to 6%. the oil and gas exploration and production company had a missed earnings report. it's planning to cut investment spending in 2015 amid what else, falling energy prices. brian, you can see there those trends to the down side today. now down by about 4%. back to you. >> thanks very much. check out the video coming into cnbc.com. greek protesters taking to the streets of athens. they're lobbing firebombs at a local shop. michelle, we've been here before in 2008 2009. what's going on this time? >> well, what's key about these protests is that those conducting them are those who supported this brand new government of alexis that came into month an month ago because he said wee undo the bail-out program which has impose aid lot

of tough conditions. budget cuts, et cetera. after he mounteded a big fight against the country's lenders, all the other countries in the euro zone seekers of his team had to back down. the program and its tough conditions they remain in place. the trigger has government is going back and some people in the party are upset about this. now, keep in mind we have covered a lot of greek protest on cnbc. this one is small by comparison but it does mark the first public disorder against this new government which, remember was elected only on january 25th on this promise of writing off the country's debt and ending the painful austerity measures. >> you know, michelle as an anecdote, i was at a different network. you and i were probably there at the same time. did you get a chance to walk by that area where the school is? i think it's a technical college and the graffiti and -- >> with the hammer and sickle and all the -- >> literally the graffiti. i have pictures of it. i should probably tweet some out

this weekend. it's literally burn wall street to the ground and irts really -- it was a really -- i was told don't go there in a suit. >> it's a pretty leftist country in general, actually. i have interviewed people who have told me i support president obama even though he is a right wing president because by vir use tu of being the president of the united states in greece you are seen as being right wing. >> de facto right wing. >> yeah. you have to that area too. it's dramatic. the graffiti is not fit for a family program like this. thank you very much. aig, announcing in the past hour that its former ceo robert berchmosche has passed away. he was 70 years old. steve liesman covered benmosche during the financial crisis. i know aig has a stained name because of the bailout. benmosche came in. he was already sick. he risked his own health to help the u.s. taxpayer and the company. >> i think that's a good way to put it brian. this was the you got to be kidding me story of the financial crisis. remember the aig bailout

happening a day after the leman bankruptcy on the 16th of september, 2008. there were four different kashdz the government had to come to the rescue of aig. . it was really thought to be a massive hole and then benmosche comes in in twooirn, and these very focused in terms of how he gets the company on track to really reorient itself back towards its essential business lines as the primary business lines, selling off assets or raising money and understanding the only way back for this company was to repay the government. it did so in 2013. it did so with a profit of $20 billion on a total of $180 billion. here's what benmosche said when he fulfilled the obligation to the government. >> what's important for this company is that we are a company that makes promises and we're a company that you have to trust, and, therefore when people look at how we behave and act, the

government gave us this support, and we have paid back that support, but without it we would have had -- we would not be this strong today. >> brian, that focus is especially remarkable because, as you remember and as you really pointed out at the beginning of the session, what was swirling around aig, seen as one of the worst companies ever. a pariah in the national mind. >> maybe the cause -- some view aig -- >> that's a nice way to put it, yeah. >> the way they insured parts of this market, many viewed aig as almost the root cause of it because they enabled by backing certain instruments to make bets. >> the bailout was seen as a bailout of wall street as well. there was nothing good about any of this and the only possible good that could come out of it was the government getting its money back and i think benmosche will be seen as being instrumental to that. >> thank you very much, steve liesman. >> all right. so let us set the menu for power

lunch. alaska air up 48% of the year. wall street yes wieing in on the stock with a big call today. we'll tell you what that is. harold ham talking about the divorce and the giant check that he wrote to his ex-wife. is this really over? maybe not. and the key russian etf down 30% in six months. all the bad news there, though is this the exact right time to say dah to investing in the russian stock market? we're wack after this.

sfloom you know we do this every single day. five stocks the best recommendations. we're going to do it earlier. same great concept, though. just a couple of minutes up. first up, alaska air. raymond james upgrading to a strong buy. their target $80. they see $15 of up said. they say domestic demand is healthy, and costs keep moderating. >> in the past month the airline advisory really been losing a lot of steam. this one is down about 8%. maybe this is to make up for that down side that we've seen most recently. up next here i'm watching live nation entertainment. jeffries raising it to $3 a share. jeffries does see traction in secondary ticketing. expects a solid concert year this year brian. >> 30 a little more bullish. the average target is about $28.550. you have $1.50 more up side.

i will say this brian adams, 30th anniversary tour called reckless is launching this summer. could be a big one. you and i, front row to heaven cuts like a knife. anything? >> sure. sure, brian. let's go. >> canada baby. next up ross. sterne raising earnings. they cause ross a rare retailer in this earnings cycle. the only weird part of the call is despite it's a bullish research report the target goes to $1.05. sflooits a mixed earnings report. the stock a little bit of a surprise. first quarter guidance of a little bit muted, although the full year was within consensus. the stock hit a new high in today's session, and it's up 6.25% right now. the next stock cyber art. this is not an analyst call but it's worth pointing out. news of a secondary offering. secondaries give existing sar holders a way to sell ahead of lockup expirations. there's one coming march 23rd. weshgd point out there's big holders. jerusalem venture partners owns

a 36.6% stake and goldman sachs. could be a lot coming on. >> when you flag this i knew we talked about it recently. i went back and looked. the stock is up this year. then i noticed the average price target is only five analysts but the average price target of those is $45.08 a share. the shock is almost $61. the current wall street consensus is about 25% less than the current price. >> a lot of momentum there. see? the last few weeks. >> either they got to raise their targets accident or somebody is really wrong. in today's under the radar name it's info blocks. the ticker blox. i tried to figure out exactly what they do. i'm probably not smart inform. basically it's data analytics, networking. analysts raise their target. >> in addition to that upgrade we had a number of firms on the street raising their price targets. there's a lot of optimism

surrounding this one. >> mcdonald's was up and then it was followed by another 2% move. a lot of analysts are taking a look at mcdonald's and saying we found some stability. a bottom in the stock as we are expecting this new ceo to come in. there could be some technoligical innovations which could improve the margin on this. also, of course there could also be upgrades to the manual. improve the burger. maybe people would actually buy it. mcdonald's, stock of the week for me. >> mine is o'reilly automotive. it's been outperforming most of its compatriotses this year. however, i did notice that the chairman founder david o'reilly sold about 13 million worth of stock two days ago to be part of a regular selling plan. i get it. just note there's been some insider selling on what has been a very hot name. it is down .4%. up next why you have 974.4 million reasons to stick with

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zimplt the most famous chef isn't quite cutting it. robert is here to explain. >> hey, brian. well, harold ham says his divorce is over but his ex-wife, well she has other plans. appearing on "squawk box" this morning, ham, the billionaire ceo of continental resources, said that that famous $974 million check he wrote to his ex-wife sue ann, marks the end of his contentious divorce. let's take a listen. >> that became a famous check that got the job done. >> it did. so it's taken care of? >> it's in -- that's in the rearview mirror. sfwroo actually not quite. ham's ex-wife, sue ann cashed the check, but she is appealing

that judgment saying she deserves more than that $1 billion. in a statement sue ann's attorney said mr. ham may hope the job is done but the oklahoma supreme court not mr. hamm will determine when this matter is concluded. now, hamm is also appealing saying he paid too much. if he wins, key get some of that check back. if she wins he may have to write a second check. it will all be up to the courts brian. >> this is the story that just keeps on giving. >> what would it be like? let's bring melissa in here. what would it be like if you call your bank your balance is $1 billion -- a withdrawal of $20 was made on -- can you imagine being able to write a check like that, melissa? >> when you take a look at the check it barely fits. the little box. >> that's a good problem to have. literally just goes into the

back. how about a $97 check. >> if she thinks she's being treated unfairly, the guy is worth a whole lot more than $1 billion, more power to her. go appeal it. >> whatever you think about the divorce, whatever, but harold hamm is not winning any friends. how many ceos privately are going to slam this guy? not the divorce. forget that. the fact that he came out and said that my success was all luck and that is -- so she doesn't deserve money because it was luck. there's no skill involved in becoming successful. all these other rich successful people are, like damn you, hamm. the final oil trooidz trades are crossing for the month. the number to watch $48.24. oil above that now. $49.74. we've had crazy last few minutes. sometimes on friday. some of the computers. we finish here it will be the first monthly gain for oil since june. do not go away. the oil close coming up after this quick break.

hi everyone. i'm sue herrera, and here's your cnbc news update at this hour. the white house says president obama will not let the department of homeland security shut down and will sign a short-term bill to fund that department if offered. that funding is at risk over a congressional showdown over the president's immigration actions. this morning president obama held a bilateral meeting with the liberian president in the oval office. he said the world has made strides in driving back bowl due to the efforts of both countries. ebola killed more than 3,000 people in liberia last year. bill cosby's lawyers have asked a federal judge to throw out a defamiliaration lawsuit filed by three women accusing the comedian of sexual assault. the women say that cosby's reps publicly branded them as liars. the cosby's lawyers say the actor was merely acting in self-defense. and robert benmosche, the former president and ceo of aig has died of cancer. he was 70. he headed the company between

2010 and 2014. he had undergone treatment for lung cancer since 2010. robert benmosche, dead at the age of 70. and that is your cnbc news update this hour. back to you, brian. >> thanks. well oil rallying into the close. looks like it's going to break a seven-month losing streak. let's get back to jackie deangeles at the nymex and, boy, the buyers are really coming in here. >> that's right, brian. we mad a run for $50. we didn't make it past that critical level. we were positive on the day, and as you mentioned, it's the first time that we've had a positive month since last year in june. that is when oil prices started to take the turn south. psychologically, investors could be looking at this and thinking that we may be sort of bottoming out here but, of course i'm going to give you some other data to consider as well. now, what was interesting intraday is when the recounts came out from baker hughes, we it see a decline of 42 u.s. rigs. we paired some of our gains for the day there, put then we went

sharply back higher into the close. two things to watch for here. some real evidence not just recounts, but that production here in the united states is slowing or conversely the point that we made yesterday, that this supply glut is getting materially worse. that will take the prices down. of course, i do want to talk about the products. they were also higher today. arbot gasoline up 20% in one week. up 40% in one month. very significant. u.s. gas prices $2.33 is the average. that's up 9 cents just this week alone. back to you. >> what's going to happen to the price of oil? >> francisco, head of derivatives research with bank of america, merrill lynch. jackie deangeles made this yesterday saying once storage is full, they expect -- or this one guy expects that prices could go

into the 20s. my question to you to start is how close are we to literally filling up all the storage in america? >> we are. we are pretty close. we think we are probably six to eight weeks dloes that point. something that could happen by the end of april or sometime by the end of march or maybe early april. we are really close, actually and i think what's really holding the market at this point is diesel and heating oil, which has been really strong. you were talking about petroleum products. both gasoline and diesel being very firm. that's held the markets up. particularly told which is the expiring day for the heating oil contract for march. >> so when the storage is filled up, assuming we get there, one with only assume that the only oping the oil producers have is going to be to sell. everyone will know that and prices can't hold up. is there something we're missing in the thesis? >> that's the thesis been holding for a while.

frankly, for wti we see those pressures being very pronounced over the next few weeks. we do think it's going to be very close to full capacity. brent is a bit of a different story. the market internationally has held up a little bit better. there are a couple of reasons for that. first is that libya has actually gone back to producing very little oil because of the domestic perm owl, and iraq has faced also some disruptions because of weather, so we've seen some less oil being produced out of opec for unexpected reasons. the market is still pretty over supplied. >> so fran chifko, just to connect the dots then if you think they can hold up better than wti and in six to eight weeks we're going to be at capacity when it comes to storage and, therefore, there could be another leg lower, where do you see the spread going. it seems like it could widen much more beyond where we're seeing right now. >> it could widen.

we do think ultimately that getting close to full storage in the u.s. is also going to impact the international market. we are seeing obviously inventories filling up in other parts of the world. they fill up in the u.s. we're going to see that spillover effect into other regions. for sure we could still see the brent ti spread pretty frail over the next few weeks. remember, the differ enshall between april contracts and may contracts is very very wide for wti. that's exactly kind of the next few weeks when inventories completely fill up. >> all right. fran sifk xwroe, we'll leave it there. thanks so much. >> francisco. >> take a look at shares up slightly after getting an upgrade from capital markets raise it to an outperform. it's raised by $2. they think csi will raise prices. csx is up 12% over the past six months, and that is a trend where oil has fallen losing half

its value. the dow transports have risen about 8%. take a look at some of the best performing dow transport stocks over that time. up 50%. united up 38%. >> melissa, thank you. well that big drop in gas prices is beginning to reverse itself. especially in the golden state. yes, gas is still cheap compared to recent years, but prices are starting to go up. jane wells joining us now. jane, no doubt, listen i understand there are people listening on the radio right now sitting in their car on the 405 in west l.a. saying sullivan you idiot. tell us something you don't know. we know we're paying for gas, but so tell us why this is happening. >> oh, you idiot, sullivan. >> i've heard that. >> here's the numbers first. the average price of a gallon of gas in california has gone up 43 cents since that refinery explosion here last week. the average in california is $3.23. in l.a. the average is higher. $3.40. here it's $3.57.

in the last 24 hours in l.a. there has been a 15 cent a gallon jump. now, even before there was that explosion of the exxon refinery which makes the special california blend of gasoline prices were going up. one thing we're transitioning from our special winter gas to our special summer gas. according to triple-a california regular unleaded in one month has jumped 78 cents. l.a. now has more expensive gas, the most expensive gas in the country. more expensive than honolulu which usually holds that title. >> it has gone very high and i did notice in the last three, four days. >> every year it seems when there's been the increase as far as the change in the blend, there also seems to be a plant issue that they're cleaning a plant or something is broken down, and i have kind of concerns about why that seems to occur at the same time. >> corporate greed and politics. you know? they do what they want.

>> we need horses, bicycle, and buggies. >> typical. let's all just ride bicycles in l.a. on the 405. good luck with that. the news could be worse. the gas now is 50 cents a gallon cheaper on average than it was a year ago here. it is way off the record $4.70 for unleaded regular we had back in 20120. about $1 cheaper off our highs. back to you. >> i miss l.a. just all those -- the third guy definitely abides. it's them. it's politics man. >> you got to love this town. you know? you know what, we -- we pay the highest gas taxes in the country on top of everything else. >> yeah. wshlgs you got to rent the sun. we don't have any back here. okay? i'm not -- no one is crying for los angeles, swran. it's warm. thank you. netflix releasing season three of "house of cards" today. frank underwood, is he enough to keep other competition on the losing end? plus, as real estate in san fran

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cnbc's julia joining us now for what the return of "house of cards" means for netflix. how big is this? >> well it's pretty big. "house of cards" is back on netflix. it's season three. >> david wells say the new season will be responsible for the addition of as much as 150,000 new domestic subscribers, but the show is even more important for cementing netflix as a must have subscription. it's facing more competition than ever from amazon investing more in originals. a stand-alone hbo service, health insurance in the works, and the new sling tv. and netflix is losing dozens of titles from its library next month. now, netflix needs buzz generating exclusive shows like house of cards and marvel's

"daredevil" which is launching next month, to help keep subscribers. those original costs are one reason the streaming service raised an additional $1.5 billion earlier this month. up from the $1 billion debt raised it had previously announced. in a world where content is king netflix needs that money to produce more must see exclusiveives like house of cards. >> how much will shares get of house of cards. trading lower by 1.5% but up nearly 40% year-to-date. lead intrnt internet analyst outperform of netflix. a $ 550 price target. good to see you. >> this is one series but how much does this do to subscriber members either shortly before or after? >> probably doesn't have a dramatic impact on near term subscriber members. original content is what caused them to go up materially, and

the companies on record saying this is going to be a much bigger content year. not only house of cards three, orange is the new black three, but a couple of new original shows including daredevil that will come out this year that should boost close to last year's levels and maybe even higher. content matters new original content matters helps drive substance. good for net politics. fwloo it sounds like netflix has fwot to spend a lot more money in order to keep the pace of growth up. i mean this year we're expecting 20 pieces of original content versus eight pieces in 2014. it's more than doubling that. i would imagine the spending is going up which is always a concern of investors. are they getting that same bang for their buck mark at this point? >> it's hard to know that. this is a flywheels company. the more subs they get, the more revenue they get, the more money with which to buy content and that begets subs. it has worked for them the past couple of years. we think it will continue to. they made an interesting comment saying that their costs for original content per viewing

hour were lower than costs of license conat the particular time. they essentially told hollywood and the studios we don't necessarily need content. we can create our own. they've actually had more cost leverage when it comes -- >> so at this point, as we have pointed out, what is the next catalyst? they don't really -- release numbers on how many people watch "house of cards," and we're not going to get a press release saying this many people watched the whole series. >> i think that the catalyst year has switched. we used to focus on domestic streaming subs. now i think we're focussing on international subs. that was the inflexion point from the december quarter print that netflix gave that caused this 40% spike in the stock. they've said that they're going to launch a bumpl of new markets this year. probably japan is in the works. there's success in the new markets, including germany and france. that's probably going to be the next trig other stock up or down. >> mark, thanks so much. have a great weekend. >> thank you. >> meantime the city of oakland, california,'s long struggle economically.

it also has the highest robbery rate in the state of california for any big city. that has not deterred many start-ups for flocking. oakland, josh lipman live with the rebirth of the east bay, huh? >> well you know brian, i'm here at the headquarters of captricity. that's one of the many start-ups based in oakland. really an alternative for start-ups looking to cut costs in silicon valley. the average asking rent here in oakland is now $34 per square foot. that's about 50% less than san francisco. when you talk to start-ups here they'll say in addition to just to the cost of doing business they also appreciate the sense of comrade rayry, they say, of the tech community here. >> you also get a tight knit community. we have parties here on our patio for the local start-up scene. the mayor is supportive of oak labor day start-ups. you have bigger companies in

town like ask.com and pandora, which is just next door. >> now, where start-ups go vc's positive. venture capitalists invested more than $1 billion in nearly 100 companies in oakland last year according to the money tree report. that actually made oakland the seventh most popular spot in the country for vc investment. oakland has a challenge before it becomes a tech hud, including crime. oakland has the highest robbery rate in the state of california. this is according to the latest available data from the fbi. when you talk to start-ups here they will mention the public transportation system the relatively cheap office space, and they'll say silicon valley might have stanford but oakland has uc berkeley right next door. melissa, back to you. >> all right. josh lipton thank you. >> a stock in a company you likely know getting absolutely slammed today. we'll explain why. plus, are there opportunities in chaos? how can you invest in russia?

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hammered, down 34.5%. the biggest one-day drop in its history. the drop in the last three months even bigger than that. down nearly 60%. the company reported a double digit loss in subscribers or if ersrs for in-person meetings and online. a so far cease fire with crew ukraine has failed to stop any fighting and the rsx which is the biggest etf that tracks russian stogecks is down 30% in the past six months. we ask does all of that make it the perfect time to invest in russia. we're joined by conrad soldana. you're supposed to buy low and sell high. the risk in russia could be that it's low and going lower. you obviously disagree with that. why? >> yes. for us brian, it's more about finding the right stocks and in

russia we're finding that. high quality businesses joining good cash flow. the risk with all of that is that the ruble has been weak and lost almost 50% of its value over the last 12 months. so for me i don't want to paint a blanket picture that russia has got some challenges and it's not all good but you can find some good interesting opportunities on a stock basis for us to take our positions in russia. >> do us a favor and give us good interesting stock opportunities for our viewers and listeners to invest in russia. >> we've invested in magnate, the largest food retailer in russia. very cash genre tiff player in russia. closer to 15% plus in terms of food retail so it's a great place to be in the russian context and it's very cash generative. >> wouldn't inflation just

destroy the grocery store business in russia. food prices start to go up and up. people will buy less and less and less. >> in fact i'd say to the contrary. if you look at inflation is good for food retailers generally, not for discretionary retailers. food retailers it tends to be positive. so actually deflation is the worst outcome for a food retailer. we're seeing the opposite of that in russia which means that you can price turnovers very quick in terms of the asset turnover and they've got almost a negative working capital. >> give us a second pick, if you can, that our viewers can possibly play in russia conrad. >> sure. another name we own is yandex. it's the google of russia. it has 60%-plus share in terms of search and it has its challenges from an economic

standpoint, but you're still going to see a contextual search up 15% in the first quarter and we like that business a fair bit despite, as i mentioned before that the economy in russia we're looking for it to shrink this year five points. still you should see growth coming through fromy yandex. >> reminding us sometimes it's darkest before the dawn. thank you very much. >> thank you. >> there's a big sports conference taking place in boston that has little to do with actual sports. eric chemi is there. what's going on? >> well what's going on coming up next on "power lunch," how this little device installed in shoulder pads on all nfl players is changing the way we understand the game measuring player performance. that's coming up in two minutes next.

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start building your confident retirement today. we all know there are fewer women ceos than men but in tennis women are tops. new data shows global tv and digital ratings for women's tennis is up 22.5% last year compared to 2013. the u.s. open women's final rated higher than the men's in each of the last two years. the women's tennis association recently announced a record half a billion dollar deal with the media company perform to produce 2,000 matches on tv and digital platforms by 2017. go to powerlunch.cnbc.com.

>> thank you. technology and sports mixing at a big conference at m.i.t. eric chemi is there profileing the new way to judge jumps, runs, and pure power. >> we have jason from zebra technologies here. you have an rfid tag installed in every nfl shoulder pad. >> we're tracking 2,000-plus players every game and using it to enhance the broadcast, to enhance the fan view. >> it means i need to get that data instantaneously. how fast can you show me this data getting collected. >> let's show you how fast. charles come in here. we have a sensor. hand up and let's jump see how high you can go. >> and it stopped. so right there. >> 23 inches right away. and you can get that data instantaneously. can we do it again? >> calibrating. >> there's a little calibration. you calibrate while you talk about it. he's calibrating. that's pretty quick. >> right. and so the data is coming in real time very accurate and

like i said every player. we're getting multiple data points, not just vertical. >> you can see how fast they're running, how close. you can figure out which players are actually the best on the field. >> that's correct. >> are you jumping again for us? can you beat 23? >> we'll see. >> let's see. >> oh 25 1/2 inches. is that combine material? >> i don't think so. >> i don't think so. i think i could do a better job than that but we would probably save that for another jump. i'm not doing this. i'm not jumping. i jumped earlier and i was almost at that level. no, i'm not going to do it. unless you guy kansas city do it fast enough. my producers want me to try to jump. do you want me to do it. here we go. calibrating. >> stand by, stand by. >> am i jumping? >> stand by. and jump. >> here we go. how high did i go? 31. top five! i'm the fifth best person here. >> you crushed it. >> i don't think you could beat that. >> no way you got a 31-inch

vertical, chemi. >> the computer says so brian. >> the computer told him. and also started a war with russia playing a video game with matthew broderick. >> eric thank you. see you tonight at 5:00 on "fast." >> thanks everybody for watching. have a great weekend. "the closing bell" starts right now. hi everybody. welcome to "the closing bell." i'm kelly evans at the new york stock exchange. bob, as we finish out what could be a historic month in the making. >> i'm bob pisani in for bill griffeth. the dow is in the red. we'll need a big rally today. s&p 500 also lower. dropped down just about the time oil closed at 2:30 though it will likely close within its largest monthly gain since october 2011. >> and