down? >> maybe because everyone expects them to. >> nobody cares? >> maybe because the zbikkestbiggest markets have been contra going in. >> with that last word have a great rest of the day. "power lunch" is on now. >> hi everybody. tyler mathisen here. rally on, stocks are up and have been all day. i would put it this way. it's in green ahead of st. patrick's day. the industrials up about 17%, 17, 923. little the accept accept also along for the ride. the russell lagging just a bit. a monday jump as you see there. look at the etf trade mirroring the indices. the dow etf, spider and so

forth. look at oil, brent down and look at west texas, down. major historic lows on a 2% slide in oil. there's the euro/dollar trade. the euro and the dollar inching ever closer though the year row is euro rowe is up. sara iverson is in. hi sara. >> hi. the british, german and french markets all up nicely. let's bring in bob pisani. >> what's up? normally we have that knee-jerk reaction. that's not happening today. let's take a look at the s&p 500. this is pretty strong rally that

we've seen. it helps to have euro weaker -- euro strongering dollar weaker. this is one of the rare days. that's helping here in the united states. we take a look at europe though. that knee-jerk reaction. you'd think they'd sell off europe. another high for germany. that didn't really happen. obviously when you have q.e. occurring that trumps everything. as for the stocks here in the united states, look at the dow movers slightly the expensive tone. you've got united health and stocks leading overall. still pretty good. far more advancers than decliners today. i think it's very important that we've got to big oil on a day we hit new lows on oil. the big oil stocks have all turned positive. exxon, chevron, schlumberger and

conocophillips. they're getting slapped around. slightly higher rates right now. buying rates are low, sara. that doesn't seem to be an awful lot of worry going into the bond market. >> we've had a few data misses as well. >> a number of data misses and they may factor that in. >> bob pisani thanks very much. tyler? >> sara thanks very much. the oil rally has run out of gas and how. crude prices now hitting their lowest level since 2009. quite a reversal. there you see the prices at west texas, that's the one that hit the multi-year low. bertha coombs on the trading floor. hi bertha. >> it's like that scene in "life of brian" when the undertaker keeps coming by and he keeps saying, no no not yet. when we're getting a little relief of the dollar we're hitting post financial crisis

lows particularly when it comes to wti crude. part of the worry is perhaps there's something that will come back in the market but really the issue here in the u.s. is about the oil glut. when you look at where we were back in march of 2009 well wti is down at the same levels. wti production is way up. we have nearly doubled production. and the most recent numbers go back to december 2014 from eia. we've nearly doubled since that time. that's a lot more coming onto the market from the u.s. that's why wti has not held up as well as brent crude on the international market. back to you, sayre. >> thank you very much. watching the oil trade. new clues to housing. diana olick is in washington with the latest read for us. diana? >> well, that's right. despite the warming weather the march home sentiment is not a

good one. sentiment is down two points to 53. 50 is the line between positive and negative. it's better than 46 which is where it was a year ago, but this is the third straight falling build of confidence which started at a high of 59 last september. of the three components current sales conditions fell. sales expectations held steady at 59. so builders can continue to expect good things. they're just not seeing them. in this survey builders cited supply chain issues and shortages. i spoke with one mid size builder in maryland this morning and he said it's not picked up and he calls himself in the, quote, not excited camp. you would think builders would be so thrilled with so little homes for sale. demand is not as stromg as it is for those cheaper existing homes. sara? >> thanks very much.

it follows on what we've seen diana, in a string of misses. meanwhile deutsche bank is the biggest trader. when they make a call on the maria, certainly wall street listens. which is why the forecast has it falling all the way down. certainly it's caught everyone's attention. deutsche banks' chief currency strategist joins us now. you must have been caught by how fast we have moved lower at this point. >> i have to say sara, we didn't revise our forecast by too much. we were at 90 cents before. 85 is not the biggest revision we've made. i think we'll test the old lows. 2 cents or thereabouts. >> are you concerned that wall street is catching up with these bearish forecasts? i haven't heard anyone say they're not expecting parody.

you try to look at what up the fundamental features are. you still expect the u.s. rate story to be very persuasive in talking the dollar up and we're looking at the rate spread story being up in the next three to five years. >> you don't think they're going to be worried about these levels in this short time period? >> yeah it will have some impact. they'll look at the dollar which certainly is retracting from financial conditions. it will look at bond heals and equity market as well. if you take a look at all the factors, there is going to be some slowing coming. >> slowing of the economy. >> yes. >> and financial fallings. >> yes. it will become a factor. i don't think to a point where she's going to put it in a statement but she'll talk about it at the q and a. >> what does that do?

cool off the dollar rally? >> i think it cools off the dollar rally. it will probably continue retracing. >> many people don't realize this that the euro has been as low as 82 cents in its lifetime back in 2002 after it initially launched. do you expect we'll see a retest of the all-time lows? >> i think so. i think we're going to see a pause here. a lot of this has been hedging of foreigners who have held european bonds and equities. i think that's going to slow somewhere around parity and somewhere on the face will be this year. >> who is on the losing end of this trade? who has not been betting? >> i think some of the real money and of course the central banks typically are turning a super tank around. they're holding lots of euros as well. >> dollar, oil, stocks. obviously they're all making big moves right now.

is the currency going remain in the league? >> certainly, yes. weaker dollar is absolutely in the mix but from an equity standpoint i think if the currency could stabilize so it doesn't go day in and day out and week in and week out, i think actually we can see a much more favorable environmental. obviously european stocks are doing very well. >> little bit of a pause and a stronger dollar all the way through the 80s. alan ruskin thanks for coming in. we go to dominic chu now. >> good afternoon, sara. wall street is getting a pop in the day as app announcement that it's going to be joining the nasdaq 100. it's going to join the others as well. walgreens will be replacing eeeing

eqinax. back over to you. today, the ceo lays out big plans to pivot the tech company away from the pc and into faster growing area. but will investors buy into it? >> plus one red-hot brick in the market, up 30% over the past one year. the man behind the country's economic plan speaks to cnbc about how he plans to keep inflation in check while we listen to ed sheeran and drive 7% growth. gins] ♪ we are one, we are essentially the same regardless of where we come from. um, there are definitely things that are different about us culturally and everything else but at the end of the day we are the same and we really need to start seeing the world as a place that was gifted to us. [thunder and rain] [thunder and rain]

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. welcome back to "power lunch." instead say lex is choosing to accept a higher takeover bid from val yans. shares of xilinx is up. >> taking private deal with leonard green and partners expected to close in the third quarter this year. the stock is up more than 60% since last august. as you can see right now it's up more than 5% on top of that. >> mcdonald's files complaints in 19 cities talking about hazardous working conditions. they're the same filers seeking a $15 an hour rage.

salix is one of the best going. it showed lower death and stroke rates. it's already available in europe and edward says says it expects approval. back to you. >> thank you. we're watching microsoft this hour. they're looking to move it away from the pc and into the cloud area. josh lipton with more. josh, cloud is one thing. they've tried mobile before and not terribly successfully to my recollection. >> you know, tyler, it's interesting. he was in atlanta this morning and he demonstrated the range of products and services to help companies use their data more effectively, and he know this is a very fast growing area of modern corporate technology. research from iec says the big

data market reached $17 billion in 2014. it's going to surge to 22 by 218. they've been reminding business owners and investors that they're making this transition booming to capitalize on it. but some investors don't seem so sure that microsoft is moving fast enough. that stock firmly in the red this year. it's now down nearly 20% from its november high and dramatically underperforming in the s&p 500 and the nasdaq. they lowered their expedition tags on microsoft due to the demand. despite that they said they would be bullish and talking about management showing strong erratic expenses. if it lookeds attractively valued

we're going to learn more if it's payinging off when the company next reports earnings on april 23rd. sara, back to you. >> thanks very much. josh lipton. check out ooh major india etf. up between 5% and 7% this year alone. the real man to watch may be the finance minister and our seema mody had a chance to talk with him. hey, seema? >> hey, sara. if you follow modi's moves closely, you'll find it's his right-hand man who is tasked with transforming into the business trustworthy nation that

mow mody has been addressed. he discussed whether it's too high. >> it's better than you and me and therefore investors when they assess the steps which have been taken, there are more realistic missions of the market. >> but some investors are concerned india's markets have run up. they say at one point valuation will be a concern especially if they don't show signs of improvement but the bulls continue to show signs of positive. i was told the cost savings associated with lower oil prices has been used to fund infrastructure projects. if prices continue to fall that will give the government additional capital to allocate toward rye building the country.

just today they got the endorsement from christina lagarde that it's the bright spot. >> thank you very much. mass protests in the streets against the leader. michelle cabrera russo. >> billions of dollars have gone up in smoke and they're calling for the itch peachment of the president. massive, massive scandal. more details on that after the break. ahhh- ahhhhhh. liberate your spine... ahhh-ahhhhhh......aflac! and reach, toes blossoming... not that great at yoga. yeah, but when i slipped a disk he paid my claim before i knew it. ahh! so he had your back? yep. in just one day, we approve and pay. one day pay, only from aflac. [duck snoring] e financial noise

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welcome back to "power lunch." railroad operator union pacific the shares are on the rise. that's after the analysts of a quarry updated the shares from a neutral site evaluation given their underperformance. they did lower their price to $132 a share. it was $134. there you can see other rails in trade today. back to you. >> is there a crack in the brick? >> many are calling for her impeachment impeachment. michelle caruso-cabrera with more. >> there was nearly a million people who tripped through the streets calling for tim peachment of the president. she is facing a wave of discontent over the stalling

economy and the massive scandal involving the state controlled company. a draft investigation has led to racketeering and others. to give you a sense of just how much money may have been stolen one third tier when arrested immediately offed to give back $100 million which he had stolen. it's now unclear what the true value of petrobras's values are regardless of what easton theon the books. they could pour billions or face some kind of restructuring as well. moving on to another oil dependent company which is a mess this one in venezuela. venn someday ya's

venezuela's parliament. in case of a u.s. invasion that he's worried about. addressing his supporters he spoke in english directly to president obama demanding that president obama repeal the executive order when he imposed sanctions on venezuela. >> repeal. obama, repeal. >> something tells me that president obama isn't it going to do it that. >> and he's doing it. >> he says where are all the guys when the murder is happening. they're so lawless in the country at this moment. >> i have a feeling united states has more important things to worry about than venezuela.

>> maria, thank you very much. sara. >> gold is rebounding off a near three-month low. a nice lift from the weaker dollar. >> yeah. the dollar pulled back to easing helping to lift metals. gold could see a bit more of support in the months ahead with good news coming out of india. if you see india lift its tariff on gold, that could lift it there. they also have an industrial component and today it is the best performer and in fact one of the few metals features contracts that for the year is now fractionally positive. tyler? >> thanks a lot, bertha. let's find out where things

stand with rick santelli at the cnbc. hi tyler. >> hi rick. you never know what they're lining up with the end of zero interest rate policy. in the old days fed weeks were bullish for stocks and trudgeries. take a look at interstate ten down 4 basis points. look at the year-to-date chart. let that simmer a minute and go to the long maturities the. well when rates move up it's no surprise this one is moving down in price. why? there's a mass exodus. higher rates, no one really wants them except the feds because they need to normalize for the next business cycle.

the ideal scenario you want the stock market to be going up because the economy rates are up and they're in harmony. the other is the last fed chart. when the euro is late and the dollar is down you know what happens. triple digit ups in the equity mark. sara back to you. >>'s exactly what we're seeing today. rick santelli the dow up. and oil continuing to be it for the investors. so which stocks and eetfs getting the most? >> we're going to look at march. that's coming up up next right here on "power lunch." keep it right here.

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hello, everyone. i'm sue herera and here is your

cnbc news update for this hour. jurors in the boston marathon bombing trial saw the riddled boat where dzhokhar tsarnaev was captured by police. they walked around outside the boat and inside where they could see the bloodstained notes tsarnaev wrote. one blew up when they were tasked with fighting isis militants. general motors has received 4,300 claims for compensation related to its ignition switches. that's according to kenneth feinberg who is overseeing that. they say 102 are eligible for payment so far. a massive help effort on its

way to vanuatu. back to you, sara. >> thankings for the update sue. we return to the market. the dow's up 180. 1% gain for the s&p as well. the nasdaq lagging behind but still up .85%. let's get more on the trading action. bob pisani down on the floor. bob, what stands out? >> what's important is what's going on. strong euro and weaker dollar. that's not happened in a long time. that's not helped only the united states but helping europe. just off the highs. look at the s&p 500. essentially we started strong and have stayed strong. we're just at the highs for the day. we saw oil at new lows but i would note that's of course generally good news for refiners. you might be surprised. more surprising is to see some of the big exploration and production names. this was a big surprise today. eog was positive virtually all days and even the big guys.

they have also now moved into positive territory. that's very encouraging for the overall markets. not surprising we've got oil bound. your airline stocks are up. that wasn't that surprising here. you've got jetblue and delta and american airlines on the upside but the rest of the airports are doing well. fedex also on the upside. it doesn't help when you have a big story that china has been dumping steel stocks. it's been a horrible year. that's not a typo. olympic steel down and also schnitzer and cmc. finally, it's st. patrick's day tomorrow. we asked about the beer distributors. anheuser bush is up 1.1% up. it's been up every st. patrick's

day since 2010. it was back in 2008 2009. good day for them. good week for but f budweiser. back to you, sara. >> that was a good tidbit. two traders on the rally today. we've also got gordon. here's the theory i have. currencies matter a lot more than commodities, mainly oil for the stock market right now. true or false? >> today true. the fact of the matter is oil is at a multi-year low. >> faw months ago that would have been cause for a selloff in stocks. >> and it might resurrect itself at the end of the corner when you see how it's played out. at this point now it's all about the dollar and i guess the one

sidebar is everyone is taking it easy until we hear from the fed. >> is that what it is? >> i think that's much more the story. also the dollar backs off off a little bit. it's a convenient conversation out. i think they've been looking to stabilize in here. >> coming off three down weeks. >> but the energy names are up just kind of tells you overall people are not that concerned there's going to be this complete collapse in oil at all and that they're looking for bargains. >> this is a big fed weekend not just because we're expecting a change but also because we're going to take q and a. how is the market for it? >> i think the market is ready for it. i think the fact that people are so hyperfocused on it borders on almost stupidity, number one. but number two, take it out and let it go. the fact that they create this

angst by leaving it open is what gives the market all the anxiety. just do it. >> they're trying to be transparent. they're trying to signal that a change is on the way. >> i hear you, but they never, ever pull the trigger. >> there's two sides to that. even if they do something and they think it's precipitous and they decide to reverse course there's nothing that prevents them -- >> right. they're going to be patient. >> right. really the dollar to me is really the fulcrum of risk globally at this point and it seems to me when it gets weak people are more inclined -- i want to put a caveat here. we're seeing low rates and futilities. is that a worrisome signal? >> no i'm not worried at all. the feds are going to keat rates low whether they leave it or or leave it in. it doesn't go anywhere. >> it doesn't tell you that the economy has all been misses. >> has been weak. >> yes. >> it shouldn't surprise you at all to see utility stocks doing

better. >> i think the more important thing is bobas bob pisani says he hopes -- >> how about that anheuser busch goes out every time. >> every bit of the time. >> tyler, that debunks your whole theory. at least we know that bud turns out to be after the holiday. >> budweiser is a good bet any day, folks. all right, stocks rallying today but despite moves for oil stocks, oil does continue to be a trouble spot for the market. crude prices hitting a six-year low right now as you see there with west texas at $43.32 a barrel. donovan chu with what dominic chu with more. >> he's absolutely right about the comments about oil. here's the thing. we've seen this bounce or

attempt to bounce twice before. investors out there, you may remember, the middle of december we saw that bombing out and it bounced back. a month later it bounces back. the question is whether or not there's a head faik. you see it a little bit bouncier only to sell off again. if you look at the s&p 500, this is just month to date, mind you. we've seen that pullback in the s&p overall and more specifically with the energy sector which is down about 5%. far outpicking the declines in the market. it's the worst performing sector in the s&p 500. if we look ahead at some of the etfs that are tracking with the energy market you can see here the month of march again. xle is down 5%. the exploration of production companies overall tracked by the sop. that's the ticker that tracks those companies there, down by 7.5%. and there are pockets of

industry taking it worse than err other others. those might be places. now, among those major stocks right, exxonmobil. you see it down 5%. you can see a bit of a pop here today. also looking at some of the other stocks that may be catching a little bit of a buy here on this dip. occidental petroleum, it's down marginally here today. then the single worst performing stock is noble corps up 1%. you see it getting a bit of a dip. still down 18% almost in the month of march alone. if you watch what's happening with oil prices these are some of the stocks investors may be focusing in on. remember, oil prices may slide further. nobody's got a crystal ball here but go to cnbc.com. we've got five reasons why oil prices may continue to slide and why those reasons might drive oil stocks in the coming days and months as well.

back over to you. >> thank you very much. shares of sotheby's getting a bump but he's not from the art world and that raises more concerns. he comes from msg, madison square garden? >> it's kind of the rangers meades roth co. the art worth may take a little convincing. it's tad smith which owns the garden, the rangers, knicks and others. he was named ceo of sotheby's. this is months after a search. now smith has no experience in the art world or the auction business. he was head of local media for cable vigs before msg and before that at read elsa veer. now they tell me they're a little surprised a media and sports guy was put in charge of

the world's most storied auction world. the beauty, though, is in the eye of the shareholder here. in the year at msg, their stock was up by more and that a third and sotheby's cold hold it. even though we're in one of the biggest art boons in hichtd, the profits and margins have been shrinking and it canceled that special dividend last month. smith acknowledged he's new to the art world and said he's a quick study adopting new technology, and creating a sustainable organization. he said that at his core he's a brand guy and the market for collectibles is quickly evolving and i think our core strengths are unrivaled. give us an excellent foundation. very surprising that sotheby's

at the center of the art world, not an art guy. >> his first move if i were him to auction the entire knicks roster what's carmelo worth? >> sara down to you. >> we're watching stocks rallying ahead of the big fed meeting this week and the question is will the fed stop being patient or at least using the word when it comes to low interest rates. how will you trade it? plus an eagle claiming the world record for highest flight and it's all captured on camera. you've got to see this unbelievable video. we'll show it to you next. sal khan: khan academy is a not-for-profit, with a mission of providing a free world-class education for anyone anywhere. if you look at a khan academy video, they can cover everything from basic arithmetic

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welcome back to "power lunch." that's on the heels of the report that they're exploring a possible sale or ipo of some of its beauty products portfolio which include herbal essence and cover gill makeup line. last year remember it was selling off its duracell battery business and also petsmart. >> you've got to check it out. an eagle setting the world's highest flight and capturing video at the same time. this was part of the effort to spread the word on eagle conservation from the group freedom conservation. they equipped the eagle to fly from the top of the tallest tower in dubai. flew down. it wasn't the eagle's first attempt to land from urban

structures. he's flown from historical buildings in europe and flown st. paul's cathedral in london. here he is in dubai soaring over in what is a world record. and we understand, tyler, that he made a safe landing. >> yeah. we just saw him land. >> on his arm. you saw that. >> he's so beautiful. he's spectacular. he is coming down pretty fast i have to say. >> makes me a little nauseous. >> look at him land beautifully. nice. >> there you. stocks they're not doing an eagle's dive today. they're going quite opposite. turning positive once again for 2015. nasdaq is up nearly 4%. there you see numbers so far. joining us allen gayle and bob past flick, chief market strategist. welcome to both of you.

is the fed going to lose its patience this week? >> we think that they are. you have both the doves and the hawks flying in the same direction. you just have the doves flying in a little bit lower. they want to send in a message that the feds want to northerlialnortherly al normalize the policy. >> are you in the same camp that we in the media have been poring over for months tirelessly but ultimately what does it mean for when and by how much the fed might raise interest rates? where do you come down on that one? >> first of all i do agree with alan and i do agree they're going to take out the word patience this week. it allows the feds to get back on track with normalizing interest rates. i don't think they're going to show the kind of strength that

warrants an increase in june. i think it's going to be a buying opportunity because the market generally performs well before a first rate hike and it generally performs quite well after the first rate hike if the fed isn't producing increases at each meeting. i think what you're going to have to do is pay attention to the weak economic dollar and earnings. it's going to create a bit of a buying opportunity as people are going to be focused on q1 earnings, a rate hike and a dollar and that's going to be your lead into the stock market. what you want to do is position yourself for growth. >> my question to you is let's forget the hand wringing. let's look at corporate earnings and how that bodes for the stock market. you've got this strong dollar impact that could hurt corporate america. you've seep it.

you've got the economy underperforming and disappointing. why do you think that stocks ss go higher in that kind of environment? >> let me say first analysts have been taken down too far too fast. you've had rate earnings estimates cut in the past but never to this extent. so i think you're going to see a better q1 earning season than a lot of analysts are expecting. not for oil or for the energy space but for the rest of the overall market. the dollar is a little bit more of a concern as far as it goes to the multinationals, but i think the growth that's occurring in the united states is going to be able to pick these companies up. the first quarter has been impacted by the negative weather weather, this severe weather they saw. you saw a strong second quarter and a strong third quarter. i think you're going to get a repeat of that and i think that's what's going to help list the market and carry it to about

2265 this year. people worried about a rate hike is going to give you a buying opportunity in this overall market. >> alan, let's say bob is right. do you have to at least shift which industries or sectors you're looking at here? obviously utilities are outperforming today and have been but in this economy they should be. >> i would say with the allocation strategies, i'm looking first at valuations and then we're looking at macromomentum and then the market technicals. from our perspective, i do agree with bob that equities are reasonably valued. that said we believe there's a better story overseas. we think the stocks are cheaper and we see a catalyst for quantitative easing. so i've been -- for the last several months i've been moving money out of the u.s. where i've

been overweight for quite some time and moving it overseas. >> alan one last question. you say you like technologies. which of those do you like, quickly, and how if at all worried would you be about some technology companies like cisco like intel that sell a lot overseas getting whacked by a stronger dollar or are their basic business fundamentals you don't have to worry about? >> from our perspective they're still very good. we're finding value across the technology space. so we're continuing stay involved. again, we think from an economic growth standpoint we think the business psych sl gaining some traction here. it's gaining traction overseas and when that happens we expect to see some mer capex spending.

>> bob and alan we appreciate you being with us today. go to powerlunch.cnbc.com. right now. that's powerlunch.cnbc.com. hack attacks pushing them into the mainstream. they're staggering to buy new policies as protection. plus invasion of theants. why researchers are trying to double the size -- yes, double the size of ants. you have to see this. there's nothing more romantic than a spontaneous moment. so why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms

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smartphone or tablet from comcast. visit comcast.com/wireless to learn more. let's take a look at this half hour. alan ruskin says deutsche bank is going to settle off. telling our seema mody that investors know the india market benner thant most and will assess the realistic conditions of the market. and crude continuing to fall to a six-year low.

if you missed any of the stories in the past hour you can visit our site at powerlunch.cnbc.com. sara. >> the kind of insurance sweeping the land. do you need to get in while rates rise? and we're still trying to cure the common cold. don't worry. scientists are working on doubling the size of ants. we'll explain when we come back. ...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.

coming up in the second hour of "power lunch," new stats on how low crude oil really has fallen. the one word all of wall street is really focused on and battleground tesla. is this a stock only for traders, or should long-term investors also get in? top of the hour. but first back to tyler, sara, and a bunch of ants. >> yes. that's just where we're going, brian sullivan. researchers at the university of illinois doubling the size of florida ants by chemically modifying their dna by dousing ant larva in compounds designed to limit the way dna shuts down specific genes. scientists actually produce larger ants. so these guys show up at your picnic, thank you to science.

no idea why they want do that, but if they can double the size of ants maybe humans are done. >> people have done a good job of that. >> we've done a big job of that. >> it's called steroids. >> or obesity. >> there seems to be no recourse but more and more businesses are getting into the science of cyber insurance. mary thompson with the details. >> as we say in this business, this is a story that has legs. demand for insurance continues to grow. cyber attacks like the one on sony and health insthurerurance company anthem. first-time buyers of cyber insurance has rose 32%. big burns with over a billion dollars in revenue increasing their limits by almost 23% and

so seen are prices up almost 3% for every $1 million of coverage according to marsh. according to chubb and others it could represent a huge market, one, though that might be difficult by the writing of these policies. >> cyber insurance could be one of the biggest opportunities in recent memory for the insurance market this is an center where most of the risks are fairly well defined. the challenge likely is going to be that it's a complicated risk. it's going to require a lot of underwriting and due diligence by insurance companies. >> it's going to be expensive. they try to self-ininsure by beefing up their department measures. a wider swath of industries are buying the protection. the ones driving the growth industry, hospitality and power. >> all right, mary.

thanks very much. congratulations to notre dame. >> i know it's great. >> that will do it for the first hour. sara, great to be with you. now let's go to brian. >> we've got three members here -- i don't know where sara went. >> to college? >> it's not in march madness. >> it's out of my bracket. >> we're not either. thanks very much. it's a little too much. it's 2:00. i'm brian sullivan. milliliter melissa lee joining us. dow having a down day and oil is tanking again. oil is where we begin. hitting a new six-year low. most of the big energy names are getting slammed again in the stock market. in fact, every single related oil stock downon me screen down today. things might get uglier from here. listen to what bp ceo bob dudley

told cnbc over the weekend. >> this is a huge shock for our industry. cost structures are going to have to move and change. taxation is going to have to move and change. it's going to be very painful. >> some ceos agree with dudley. others don't. take a listen. >> there is the potential for there to be further pressure on the market for a period of time and i think people kinded of need to settle in for what is likely to be a bit of a volatile line. >> everybody agrees there will be a recovery. everybody has been working on let's get our market down and then we're in a position to ramp up at the time of the recovery. >> if we look at a global decline rate of about 2.5% per an um on 90 million barrels of production we get the market balanced by the end of the year. when the market gets blapsed, that's way good for laboratories. >> a barrel of oil sold for the

lowest since march of 2009. but let's not, melissa, forget about inflation. ite note the same as six years ago to. be at that price we would have been at $39.30 back then so if you want to compare ams, we're really below $40 in 2009 dollar terms. >> i think that's great, brian. at the same time, companies don't plan for what the real price is with the price of adjustment. they see it's much lower than forecasted and that's making projects not ekconomical anymore. so the reality is a decline in oil is enough. it doesn't matter if 39 and change is the inflation adjusted level. >> thank you, melissa. slamming houston even more. we reran the numbers today of the 30 cities that make up or pcis. houston, the worst performing. dallas also negative on the year. dallas, not the j.r. ewing days.

it's being supported by many nonoil names like texas instrument southwest, and dr pepper and snapple. mary with news. >> the company's ceo releasing its annual letter to shareholders and in the letter h doesn't make any changes to the company's earnings outlike for the coming year. he goes on to say they're creating a more comfortable gdp. it is its finance arm. it says ge is an industrial company first and foremost. they must enhance that industrial competitiveness, not detract from it. they have ge saying it's going to trim down ge capital and to that end they say it will depend on regulation, competitiveness as well as returns because they say they have to improve returns at ge capital which were below

the capital at cost of capital. he also speaks about one other industry that's in focus for ge. that being oil. it has great exposure to the energy industry. he expects oil prices to recover over time and sees it as an opportunity. he also introduces the idea of a ge store which allows all of the business units to share information and technology which in turn should make ge he says, more competitiveness. lastly he talks about changing ge's culture and they're putting a premium on speed and competitiveness and lastly he ends on a personal note. he says he's become a better risk manager. melissa, back to you. >> mary thompson, thanks to you. >> lowering its price target down to $380 from $480. ken see na is the managing core director. good to have you with us. >> thank you. >> they have to spend, spend

spend because of conflict demands. the return going to be uncertain at this point. isn't that the argument? why will it come home to roost now? >> well, i agree and i think netflix as assumed it and they've done a very good job of it busy it, busy awe you look now you can see it gives you good video app, video quality. wait does is opens up the door to start to leverage these new distribution channels and i think it starts to create some pressure and i think net flick has handled that well today and as they look at international as an opportunity to scale and way to scale i do agree that it's the right strategy. you have to give credit it to the fact that this is a defensive need. as they do so you have to look at the evaluation and say, well, is there a guarantee you're

going to see an outsized return on this investment or given the fact that it's invested in the next couple of years, you want to give that. >> snapchat's new platform you hoo, yahoo! and the list goes on. do you think it's going be an either/or situation? why can't they grow subscribers? why can't it continue to grow? just because there are these other options out there that they're not going to grow as well. >> no, no no. i think we cut our subscribers by 2%. as netflix goes down that path it's going to be important to deliver that quality to that effect. i think what the others are trying to do is provide a better proficiency than they've been getting before and that is for

the more current buyers to say we need to get our over the top act together, make sure we're leveraging all the choices and generally i think that drives the price up for premium content content. as you look out, the value might not be quite as high from a profitability standpoint as we previously assumed. >> thank you very men. ken sena of everycorp. brian. >> thank you. for the past few years fed meetings is have been relatively predictable. formulaic. the fed may signal higher interest rates ron the way and it may do it by taking out a certain 12-point scrabble word. patience. >> i'm impressed. well done. >> that side ho does the fed

get from moving the word patient to patience to a rate hike. >> what we did is a fed decision. so if it removes the word patience, the inflation is at 2%. then we go to the next one. you can see that. that's what we'll do. are they at the 2% target or not? and i think they think they're near maximum now. so the big question is are they near the 2% inflation. the next phase is if they're right. you've got your rate hikes there on the right. if not if one of those is not correct, then they're going to hold off and don't be patient, brian, while they may remove them. >> so if the word patience is still in the fed statement. >> then you've got another two meetings. >> until it comes on. >> exactly. stay right there. let's bring in jimmy euro rowe. also cnb kre contributor.

do you believe the "p" world will be taken out of the fed statement on wednesday? >> i do. i love a good flowchart, steve. so thank you for that. nobody likes to be held hostage to the market. to a certain extent they're being held by the oil market and dow market which is all the same thing. i don't think they're going to tighten in june but at the very least they're going too take out the patient word. they're going to couch that and bubble wrap it. but i do think pay sheshlt coming out. >> i love jim. he's great guy and a great restaurant owner. the problem with oil is not demand. you know, jim, as a restaurant oil, if's 100 burger and only 0 people want burgs what do you do to the price of the burger?

>> i get in the argument with people all the time. i do think it exists but i can show you 20 charts that have similar downward trends. the dollar and euro rowee is in that equation, there's no doubt about that and the fed has made mention of it. you don't think the oils have anything to do with it? >> you guys are arguing about the right thing. that's why we put up that flowchart because the bottom lean is the fed needs to be confident. we're heading back to the 2% target. right now the dollar and oil take us further away from that, so it will not be likely until the summer when, brian, we figure out is the fed confident enough to raise rates. >> first off, two things. it would have been about whale oil. number two okay the dollar and the fed, jim, here's the issue. everyone says oh the dollar move is going to impact the fed. don't we think so much of the dollar is moving because of the

fed? i think we're putting monetary cart before the horse. >> okay. yes, realistically when you look at japan and europe yes. there's the anticipation of a fed rate hike but that doesn't mean it can't get to a comfortable level and spook the fed. remember they're nervous about this. the one time they mentioned it looked like they were going to tighten it -- >> you're right about that. the differential in policies is what caused the dollar to strengthen, but you're wrong in the sense that i don't think the fed is actually able to control the level of the dollar or the level of oil and the impact on inflation. >> the producer said i get the last word. >> oh, it's in the contract. >> no. he said it steesh you get the

last word. >> thank you. appreciate it. scrabble game soon. all right, the next few days are going to be huge leading up to what may be the biggest fed rate meeting on thursday. you can catch us all right here 2:00 eastern time on wednesday. all right. let us set the menu for the tloeft hour. we've got a long way to go. analysts say you've got to bet the other way. if you've been holding big oil stocks because of a dividend. uh-oh, you might be on the neat for a big change. and tesla getting step for a big week as well. more "power lunch" coming up right after the break. you can find a new frontier. there's nothing stopping you and a lot helping you. technology that's with you always. this is our promise. it's never been better to wander

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not a good day for avon shareholders. not a good year. it got booted from the s&p 500 after being a part of that index for 50 years. it simply got too small because the stock has been one of the worst performers in that index over the last couple of years. in fact down 64% since 2013. all right. time now for a happier time. street talk. five stocks you must absolutely po actively hear about. you ready, melissa? >> let's go. >> this is an opportunity if you're on sh short side because they say sell the stock. they cut it to underperform.

they're concerned about customer demand. they cut their target to 73 bucks. ly say this though melissa, they tceo bought about 100 share. >> they've been out of favor in the last couple of months. 's eastman chemical. stock number two, here this is one of the new all-time highs, jetblue. it recently added bag fees. there are revenue initiatives and as much as the airlines have been a winning trade overall, jetblue has been an outstanding performer, up 116% over the past 12 months. brian. >> it's a little bit of a weird time for the upgrade. i guess my question is where was that upgrade earlier? >> at a market perform.

>> there you go. number number number three underwear, hanes. they like the free cash flow story and think there's m and a. buy other brands. >> you were talking about the pain that avon is seeing. haynes brands is going to it. graduating up if you will from the mid cap 400 inthe dex. stock 4, winn reports. we should note it is down 47% already from highs. morgan stanley citing visa restrictions and the smoking ban coming in the fall. >> you wonder when does the

bleeding stop. czr has done worse than win. it's down 39%. guess what? live by macau, down by macau. it's taken a huge hit. and fran chess ka. inventories are improving. they bumped their target 20% upside from here. >> the market cap is a little over $600 million. the other important part is more rational commotions. that's what the analyst wants. >> that's good that yoz hit the market cap. you would not want to skirt the issue you. let's get to dominic chu. >> tesla is up toward the highs up by 3.5%. amidst the state of new jersey

passing legislation allowing it to restart its sales of cars in that stace. governor chris christie still needs to sign the law. he said he will review it in normal course which mean 45s days from now to act on whether or not to semifinal. you may recall he ran into legal challenges for selling directly to customers rather than using the auto division. still ahead putin pops up. where's he ooh ben. plus we have a nice rally on your hayden. they're up higher except for today. we'll be right back.

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the dow is up. again we're up positive for the year. up 0.7%. disney one of the best performers. intel and coke each the worst. in fact, they even had a rough month. down more than 7% just this month. let's get more on today's market action.

kollin', approaching half a million bucks. with oil being routed and the oil stocks being route vd you taken any of that 500 or so billion and bought energy or oil-related stocks lately? >> i would be starting to think about it. i do think that the response on the oversupply has probably been a little slow coming for reasons of either the nature of the fracking business here or the pressures on budgets overseas but ultimately that will come as there are new expectations built into the stocks now. it's probably a good time to think about it. >> colin, are you concerned about the stronger dollar and the impact on the weaker earnings in the tech industries. we've had barclays down and head wind in its warnings and today there was a trimming partly on

fx concerns? >> yeah. i am. if we look at earnings expectations in the u.s. now, we're looking at sort of flat to low single digit if you exclude direct energy companies, whereas, because the expectations were so low in europe you're now getting fairly major positive revisions and i think that will affect the two markets. i was talking about the idea that you might want to be long japanese skporders and perhaps long u.s. small caps again, that might be the way to think about how to play the foreign exchange role. >> colin, finally, do you expect them to raise federal interest rates and if so can stocks overall go higher even in the face of an exceptionally now rare rising interest rate environment? >> timing i agree. ite going to be later in the year. i heard the previous segment

about the changes in the wording. i'm less focused that. i think we'll have to see about that. but not just the employment rate but the level of household income is going to be critical to that. so if we're raising rates because we're really seeing that increase in income and we're then seeing that transition from household spending that money that's a positive message and the fact that it could be a popular signal for the market as well. >> it's not the what. it tees why. colin moore. thank you very much. appreciate it. it is a big day on "power lunch" because we are today kicking off a new exclusive segment called "trading nation." it's a look at stocks, bonds, currency commodities. we're going to do it every day on the show. we even also got two segments

online at trade being nation.cnbc.com. they're up there right now. go there and check it out. it's all about big oil. and speaking of oil the final trades of the day are about to close. we're heading down when "power lunch" returns. ♪ ♪ ♪ (under loud music) this is the place. ♪ ♪ ♪ their beard salve is made from ♪ ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing

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i'm sue herera and here's your cnbc news update at this hour. the american worker who contracted ebola is now in critical condition in the maryland hospital. they've recaptured three cities outside kirkuk. they've been in militants' hands since 2014. meanwhile iraqi troops have been battling to take the northern city of tell krit. mcdonald's workers from 19 cities have filed 28 health complaints with state and federal regulators concerning health concerns. and starbucks is bringing a

new product to some of its stores. on march 31st it will launch what it's called starbucks cold brew, coffee steeped with cold water instead of hot waeter. that's your cnbc news. i'm not sure how it's different from iesd coffee. there you have it. >> i don't either. doesn't sound good to be honest with you. another tough day. crude oil closing around a six-year low. let's head to the imax. bertha coombs is there. another day, another route for oil. >> that's about the only thing that they're sure about here on out. looks like we're getting file trade around one dollar above the lows of the session. the big issue really is about supplies here in the u.s. a concern that we are producing so much oil each as we pull back. we're running out of storage. so the storage options are becoming much more expensive, as

this becomes more painful in the monthly report today they say they think u.s. producers will cut production in the second half of the year. if you take a look at where we were back in march of 2009 just after the financial crisis when we hit bottom there, you see that opec's price is actually -- or the brent price is higher than the wti price, and part of the reason is oh peks production is about the same as it was back in march of 2009. but when you take a look at u.s. production, it has doubled since then. therein lies the problem. back to you. >> all right, bertha. thank you very much. meantime chevron pushing deep into the gulf of mexico. after several weather delays the company has successfully launched its $4 billion big foot platform. it will take eight to ten days to reach its new home 220 miles

south of new orleans. the oil platform will be in a field estimated to contain over 200 barrels. listen up. just look at energy names like bp chevron, and conocophillips. in some cases their dividends for the year are actually larger than their expected earnings. our potential dividend cuts ahead. welcome, everybody, to the ee inaugural edition of "trade inging. which may be at most risk of a dividend cut? >> look. i don't think the big u.s. domicile kun kompanys are in any way at risk here. i think chevron and chevron have been very clear. i think that's going to stay put. they've got plenty of cash to support that. you're starting to see cutting there as early as friday.

you saw them making cuts. it came down from 8% down to 6%. roughly two times that of what the u.s. companies are out there. you have expeditionxon. british petroleum at 6.5%. a lot of wiggle room. i think europe is risk but the big companies, i think it's safe and they've been clear it's safe. >> okay. david says safe. stacy, look at the options markets. they're betting they'll be able to hang opt their dividends. >> there does not seem to be any indication in both price and traiting that either one of these is expected to cut the market this year. we're looking for names that are implying a potential for a drop here and if we would have gone back a couple of weeks ago there are a couple of names that were

implying a couple that were played out over time. there's nothing right now currently suggesting a cut of those magnitudes looking at two-thirds to three-quarters of what their differ deblds svidends were. in 2015 does not apea to be suggesting any type of cut right now probably partly because the ceo and the company has continually stated how important that dividend is to them. looking at to 16 it's a small price cut here. by small cut we're looking at between 10% and 20% bp. nothing like we've seen in the drillers but definitely some smaller names out there. >> dividend. thank you for being a guest in the inaugural "trading nation." >> you can go online.

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scary video from a drag race in florida. larry dixon's car basically breaks in half flips into the air and slides across the track. the best part larry dixon walks away on his own. he was doing nearly 300 miles an hour when that happened. phil lebeau joining us know. phil, some tweets about a battery issue and ending range anxiety from elon musk.

what's the deal here? >> those are the tweets. that was the tweet yesterday. he just sent out a tweet. there's a lot of speculation if the stock has moved higher that elon is perhaps once again pushing the stock higher by teasing out an announcement. he responded by saying some people seem to think i tweet to affect sheer bryce. this is false. a brief rise in shares of tsla. the stock does obviously no good for tesla or for me. he went on to say as you take a look at shares of tesla that from his perspective, the idea here that neither i nor the company are selling shares. even if i were i wound do this. it would be wrong. our long-term results are what matters. all of this stems from the tweet he sent out yesterday morning. this tweet says basically, look i'm going to have an announcement later this week. he says that on thursday there will be a press conference at 9:00 a.m. that's pacific time. during the press conference

they'll be announcing an over-the-airsoftware update that will end range anxiety. that will be a good deal if they can make all model ss have much greater range than 285 miles, and it brings up the question, what is he tauing about on thursday? what kind of ota software update are we looking at? the current rairj is about 285 miles. most believe we're talk battery management software being the type of upgrade. they would do that over the air if they are successful. it would allow them to increase the battery energy output allow the drivers to use the energy coming from the battery much more efficiently. but, again forecast you look at what again, if you look what elon musk has been talking about, tweeting about, look at the history over the last couple of years. whenever he sends out a tweet it gets the speculators going. a lot of times you see the stock

responding immediately afterward. for example last september -- we were with him in reno. look, the stock prices are kind of high. what happened the next day? it was down 3%. in october, he tweeted out, about time to unveil the deed. the stock was up 6%. they've unveiled the model "d," it went down 13%. in december he tweeted out that the roadster upgrade promises a 400 mile range. the next day the stock was up 2 2.5%. and today the stock is higher. again, he just tweeted out. you saw his tweet. i don't do this for effect. i'm not pushing the stock higher. that said, this is a momentum stock and any time a ceo makes that kind of announcement you're going to have those momentum swings. >> i bet after that the stocks will sell off into the news. that seems to happen time and

time again. >> it does seem to happen. look. melissa. i'm already hearing from the haters and supporters saying we've got it completely wrong. >> sure. >> of course. >> that's what you get with that. >> it's a battleground stock. let's look at this because it is a battleground stock. musk tweets and the stock moves. >> i don't know. you give everybody the equal playing field. i know he's not trying to move the stock. i wonder if you're an airline pilot or teacher. you can't be online all day. >> but you're not trading either. >> that's not my point. it's just that musk says everything and should save it

for pre or post. >> it wasn't over the weekend. >> just now. >> that didn't move the stock now. the initial tweet over the weekend -- well it didn't. let's talk about the news. i ice the over the airwaves ota. the $65 price target recently out with a note questioning the value program in which owners can turn in their vehicles after three years and tesla would have to buy them back. the namt argued the residual value of a tesla, who knows. this really challenges the argument. you can update any tesla. >> i wish there was a secondary market. i'm down a car due to contact with a large urbovoir.

>> you can buy a secondary tesla. >> i know. i'm just too cheap pretending to be better than i was. on deck big news out of the cardiology conference. also where has vladimir putin been missing in action for nearly ten days. what does it mean for anybody putting money into russia or wants to. we'll dig into that. we're back in two.

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purchase any new verizon wireless smartphone or tablet from comcast. visit comcast.com/wireless to learn more. for the past decade boston has owned the sports record. now it's set another record entirely different. bean town has had its snowiest winter ever. 108 inches. that's a foot shy of the height of a basketball rim and get this. more snow could fall on friday although here's the good news boston. technically friday is the first day of spring so it wouldn't add

to your record boston. we feel for you. we love you. we're sending out a group hug. vladimir putin finally appeared in public after ten days where no one had seen him. did he look sick? did he look well? depends on your view. michelle with us. >> it happened roughly search hours ago. vladimir putin walked into a room outside of st. petersburg to meet with the leader of kurd. putin as you said hasn't been seen in public for more than ten days which is what led to all the speculation. in fact we didn't know he wu going to show up for this meeting today until 20 minutes before it happened. that's when the creme limb said indeed he was going to show up.

all of the rumors that he was sick, that he was off to see his love child, more than 45,000 russian troops as well as warplanes and submarines started military exercises across much of russia. one of the biggest shows of force across the country in years. russia called the combat fleet to full combat readiness perhaps to dwarf the drills being conducted in neighboring norway. you saw him. what do you think? >> i thought he looked pale and sweaty but he's alive so that's all that matters, i guess. i don't care. >> did they discount the story about the gymnast or is that still out there? >> a lot of new york papers ran it page one. it was the most interesting angle. >> weren't there pictures of tractor-trailer trucks rolling into the kremlin that still haven't been explained? >> no idea. >> all the questions. questions swirling. >> very mysterious place,

russia. >> he's recharging his tesla. >> mcc, thank you. >> tweeting about it. let's continue talking about russia here. tyutin telling reporters life would be too dull without rumors but it seems rumors are driving down the rsx, the largest russia exposed etf. it's down 4% on rumors of putin's health although he made an appearance as we showed you today. let's talk to the managing director of raymond james. jeff, you would be short the rsx. it's already down 17% in the past ten trading days. what's going to continue the leg lower here? >> well i think there is something going on. it's impossible to know what's going on inside the kremlin, but for him to stay invisible for ten days i mean his press secretary came out and said he was working hard. well, he was either working hard, he was sick or he's in trouble. and it seems the rules of the

game have been changed inside the kremlin ever since the assassination of boris net sov. there's been an unwritten rule that you didn't assassinate the competition and that broke that unwritten rule. things are up in the air right now. there's rumors that the doves are fighting with the hawks over the ukraine, but i think the major overriding theme is that putin looks like he has less control than before. >> all right. so let's play this out then. let's say putin goes away for whatever reason what happens to the rsx? >> well, you know russia is in trouble. the drop in the price of oil, the statistics i have seen suggest that russia needs $102 a barrel oil just to maintain their current budget so russia is on the verge of a depression and they need higher oil prices -- >> i get that jeff. let's say oil remains exactly where it is and putin is gone.

he needs to be replaced. what happens to russian stocks? >> russian stocks probably lift on that news because you bring in that chechen guy that looks like he's rising to power. >> okay. so that could be the fly in the ointment to your bear case in terms of going short rsx. >> yeah that would be it. >> jeff, we're going to leave it there. thank you for your time. jeff saut raymond james. >> and a big story, meg. >> absolutely. it's a big story about cholesterol drugs. lots of names, lots of big moves. i'll have the list on "power lunch" two minutes away.

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broadband network and people committed to helping you grow your business. you get a company that's more than just the sum of it's parts. centurylink. your link to what's next. take a look at shares of regeneron pharmaceuticals popping after positive data for its cholesterol drug. that's just one of the stocks benefitting from news coming out of the big cardiology conference. >> not just regeneron but amgen, both up on data presented on their competing cholesterol drugs over the weekend. they both show they reduce levels of so-called bad cholesterol or ldl cholesterol by 60%. but the really exciting finding was they cut the risk of heart attack, stroke, and other card vascular effects in half. the drugs are expected to be approved over the summer and

they could each draw $5 billion in sales. next we're looking ats a tra zen ka. they found a drug lowered a risk when taken over the long term over aspirin but it raised the risk of bleeding. astrazeneca is trading up a bit today. and edwards, medtronic, and boston scientific are the ones to watch. jpmorgan declaring edwards the winner out of the conference with data out on its heart valve. boston scientific getting a boost from fda approval friday of it's device for atrial defibrillation. >> going back to the cholesterol lowering drugs this is a huge market for these companies. and already there are so many estimates out there in terms of how many billions of dollars it could be. any word on what the pricing could be? compared to current statins, they're pennies per day. >> lipitor the biggest selling drug went anyericgeneric.

>> these are injectables. it's less frequent. we're looking at $12,000 but that's been one of the big questions. these could cost they say $100 billion to the u.s. health care system. the drug industry says no. >> in terms of the side effects so far, the days are early in terms of the studies on this but it looked like the sanofi regeneron drugs had worse side effects. >> they look similar. one of the things people worry about are neurocognitive effects with the heart drugs. there's some question of how severe those are and they're going to be continuing to look at them over the long term. right now sfoex arefolks are focused on the efficacy. >> brian? >> i was just saying i know that meg can't hear me but i'm going to pose this to you, melissa. a lot of people talk about "b,"

the bubble word. i don't know if there's a bubble in anything but i will say this. as you talked, i ran a screener quickly. i have 40 biotechs on my screen with market caps above $500 million, 32 of them are higher year-to-date and 15 of them are up double digits. what a run for biotech. is there a bubble? i don't know. but it's been stunning some of these moves. >> i think a lot of experts will tell you that the last bubble we saw in biotech was around 2000-2001, and that's when all sorts of valuations were just insane. they weren't being driven by sales or data. just excitement over the human genome being sequenced. a lot of the data now is really real. >> i hear you. melissa, i guess i'm getting old. every time i hear the this time is different, i feel like we're doomed. >> you roll your eye approximates. >> every time it hasn't been different. >> the ivb, new high in today's session. meg, thank you. >> brian tonight on "fast money," solar. we have an exclusive.

since reporting earnings on march 4th it's up 29%. i'll see you tonight with that. >> you have an exclusive interview as well. thank you very much for watching everybody. we'll see you on "power lunch" tomorrow. welcome to "the closing bell," everybody. i'm kelly evans at the new york stock exchange where the week, bill, is starting in rally mode. >> i'm bill griffeth. yes, it is. this is whey love about the markets and the economy. it's never predictable. it's like trying to pick a winner march madness. >> very good. >> you saw what i did there with the braksckets all picked. >> uva. >> i wasn't going to mention your pick but you just did. oil was sharply lower, and lately when that happened stocks would be sharply lower. we're at a six-year low on wti crude but the dow is up 232 points. >> go figure that one out.