ia will beat kentucky tonight in actual basketball. no offense to your -- >> predictions. >> i do mostly listen on sirius xm 112 on the way home. >> i know you do. the ipo of the day, up 20%. >> that you know very much. "closing bell" starts right now. welcome to the "closing bell" on a thursday everybody. i'm kelly evans at the new york stock exchange. >> and i'll bill griffeth. a lot going on. so many moving parts and pieces. also major developments you may have heard in the crash of the germanwings flight 9525. it is now apparent that the co-pilot that we are showing you here as seen in a photo verified by a local german newspaper apparently intentionally took the plane down along with so many of those innocent souls on board. the question is why he did it.

that remains a mystery. but it is a mystery that a massive amount of resources are now trying to solve. we will have a live report and tell you what the next steps will be in that investigation. >> meanwhile, after a terrible day for equities yesterday, we have seen stabilization today. this morning the action looked pretty negative. you have a lot of people concerned. it might be three days in a row. we have gone out and looked week. we turned positive within the last hour bill. but the dow currently as you can see there, is down about 30 points. >> the saudi bombing in yemen overnight pushed oil prices sharply higher. they just spiked. pushed u.s. crude above 50 dollars a barrel. i think it got to $52. and pulled back. when it got that high that's when other markets started to respond. overseas markets were down as a result. but that has moderated a little bit as are our markets. we'll get to that coming up in a

little bit. >> with an hour to go yesterday we saw a bunch of selling pressure materialize at the close. equities fighting for direction. they have been up. they have been down. it is currently down 33%. exact same percentage in the dow and s&p 0.2%. 2057. nasdaq down 12 as people keep their eye on biotechs. >> let's get to "closing bell" exchange. jim lowell from adviser investments is back with us. anthony pell green know and scott fearon. he is author. you had a seven-year note auction that did not go well. the euro went down sharp today.

yields have gone up. what's the message here? >> the message for the fixed income market is the notion that it is delinked briefly from equities translateing into an instant spree of buying pushing down yields. we are down 16 basis points on the year on a 10. as everybody is probably noticing, it looks like we will get our first close above 2% since the 17th of march. i believe a lot of that is due to the fundamentals and quasi mixed feelings on what the fed may or may not do. but the easy answer on equities, as jack brought up yesterday, it's not only quarter end here it's fiscal end of japan. look to get back next week. i think the dynamic of different linkages between fixed incomes and equities isn't permanent but something to pay a lot of

attention to. >> could practically have been the headline in the wall street journal today. pointing out corporate debt issuancesis huge. there's tremendous demand despite rising rates or falling rates. what do you think of those dynamics? how is that impacting the market? >> i think reaching for yield it is hard to find investments that give you more than a couple percent of the year. the stock market is in limbo. they will shrink year after year and into second quarter. we will see a rate hike probably late this year. it's kind of a treacherous environment in which to be an investor. >> you think that's one of the head winds is the results of corporate earnings. jim lowell what do you think? what's going on right now could be attributable to some of the military and political issues going on these days. oil moving up as a result. or you can say that people are

just expecting some pretty lousy earnings to come out because of the strong dollar. what are you doing in the market right now? >> well i think it's all those things, bill. there are fears that stronger dollars negatively impact earnings. of course you won't know any details until alcoa kicks off in april. but fear definitely has had the upper hand. this week may have the upper hand next week. we think where areas in the market are sensitive to the economy and mainly consumer areas in particular, we're going to be able to if not chase yield, at least look for growth both in the u.s. europe and japan. we continue to see consumers in those three areas basically strengthening. and likely to continue to find ways to be able to spend and drive up earnings over and against all the obstacles.

>> anthony, where are you lightening exposure to this market? >> we are seeing right now. the dow has had triple digit losses eight times in the month of march a alone. coming off a six-year bull rally, we think the market is starting to run on wobbly legs. one of the things we're doing for our clients is positioning them. we have some hedge options strategies that are actually profiting in this type of volatility. we're up 5.5% fitter quarter this year, while the dow and the s&p are negative for the year. another factor that we're introducing are the newer fixed hybrid annuities because they'll put a floor beneath our clients's assets. >> fixed hybrid annuities. talk about that one. hedged options. so it sounds like the old kind of buy and hold the cheapest stock instrument you can find. it's not your cup of tea,

anthony? >> well let's take a look. how many investors in 2002 or 2008 were very well diversified and still experienced a 30% to 40% loss in their portfolio? so we're using these options for parts of our clients's asset positions to further the diversification. it didn't work well back in the 2008. we need to evolve right now. >> anthony brings up a good point. we are flirting with a negative quarter, something that hasn't happened in six years. and with you, among others saying that maybe earnings are not going to be up to snuff this year what are you expecting the stock market to do this career? are we in for a rough time? >> i think -- this could be a tough year for the s&p simply because we've had an incredible rally off the lows in 2008. and as i said first quarter and

second quarter corporate earnings are estimated to be down year over year. so there are some domestic companies that don't suffer from the strong dollar retail consumer service that you might want to invest in. but it's very hard to see an environment in which the s&p makes a double-digit advance this year. and i think it's not that difficult to envision an environment where the s&p has a down year. >> people are looking for noncorrelated assets why don't they just buy gold? >> i don't think gold is a bad asset to hold. i think in the big picture it's probably got a whole lot of stability associated with it. but as i go around and attend some of the seminars my sources put on it looks like alternative investments are an area to pay attention to. you have to have a strategy where nervousness is the underpinning to move into those areas. but there are plenty of things you can do. what you want to avoid doing is getting complacent or lazy as richard fisher said on air about a a week ago.

>> it's funny. speaking of alternatives, tia cref is one of the biggest owners of grape acreages and almond acreages in the world. >> bought forestry land. >> david swenson. >> jim lowell the dollar for weeks we were hearing the dollar is in for a long haul. got a bull market going on. ever since the last fed meeting when janet yellen discussed the dollar we've seen it kind of stutter step here. now people are questioning whether he will see this bull market continue. is this a pause to refresh or are we seeing a little top of the action here, do you think? >> i bet it's a pause to refresh, especially the next six to nine months. there are plenty of things to worry about, all of them material. this is going to be driven by earnings. they may come in a little bit

weaker than expected for q1. europe not only is not recessing, it is in fact growing as well. and japan is certainly growing on at least some measure. so we think when major economic regions are growing and jobs are still being minted rather than lost it will lead to better gains. by year end i think we still end positive. >> a quick yes or no. does everybody think volatility is going up in the stock market? >> jim lowell. >> yes. >> anthony? >> i believe so yes. >> you're hedging, so i would think so. scott? >> definitely. definitely. >> i bet you agree too, don't you, rick? >> absolutely. unfortunately we're shooting ourselves in the foot. a lot of the vol illiquid i did is through policy and programs we implemented. >> that's getting more and more attention. thanks, guys. 50 minutes to go in the session here. great to have your perspective. as we look at a market that is

down again, bill. the dow is only down 16 points. the s&p is off by two. more interesting than the size of those declines is simply the fact that it could happen again. we had a really rough session yesterday. again, more questions. >> again, we had a very rough open this morning. the market was down 140 points at the low. we will see how we do going into the close. coming up the nasdaq among 50-day moving average. is the worst over for technology? and we'll talk about biotech as well. live to the nasdaq markets. >> up next shocking revelations. the co-pilot of the ill-fated germanwings plane likely crashed into a mountain side. how piloted are vetted when we're back in two.

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very interesting day for the markets. a lot of things going on. the major averages sharply lower this morning. have come back. they were positive for a time. the dow is down 33 points. s&p down 4. the nasdaq down about 14 points. you look at the heat map of the

standard & poor's's all 500 components. this morning that virtually all of them were red. now you get a little more green creeping into the scenario as we head to the close with 45 minutes left of the trading day. >> reporter: kelly, we just received a picture at nbc news of the actual cockpit that was taken within the last couple of weeks. this is the actual cockpit that was where the co-pilot and the pilot were. and the co-pilot was by himself towards the end of the flight of the germanwings flight that crashed into the french alps. here's the co-pilot. so many questions surrounding this person. andreas lubitz. we have been told he is 27 years old. not 28 but 27 years old. french prosecutors say he deliberately crashed the

germanwings plane into the french alps. here's the last eight minutes of the flight according to french prosecutors. the captain gets up to use the lav. while there is a key pad outside, the captain cannot re-enter if it is overridden by the person inside the cockpit, which is what happened. no conversation in the last eight minutes. so many questions surrounding him. 27 years old. relatively new to the lufthansa family. 630 flight hours. joined germanwings in 2013. the ceo of lufthansa was asking whether their screening of pilots, including mr. lubitz going to make sure they're going to be okay in the cockpit. here's what he had to say. >> my firm confidence in the selection of our pilots and the

training of our pilots and the qualification of our pilots and the work of our pilots has not been touched by this single tragedy. >> by the way, carsten spohr went on to say that he was perfectly fit to be flying a plane. that said, there are reports out of europe that he took a break from his aircraft aviation training which was being done through lufthansa perhaps to deal with depression perhaps to deal with burnout. we put a call into lufthansa to get clarification about this and ask in greater detail was he dealing with depression was he dealing with burnout. we have not heard back from lufthansa. but that's one of the main questions out there. >> sure. phil, stay with us if you would. >> you reported in the past about a pilot shortage. we want to talk about the

vetting process. we're joined by former airline captain denny kelly. he's back with us. the mental health denny, allowed pilot toss take anti-depressants for the first time. should depression be i don't know how to put this nicely but should it disqualify somebody from being a a i pilot, a commercial pilot? >> well i think everybody occasionally goes through depression. but i think it depends on the amount. >> clinical depression we're talking about here apparently. >> i think if a person is clinically depressed and on medication, they should be taken off the line flying duties and treated until such a time as they are back to normal according to their doctor. >> just to be clear, we are not certain. as phil mentioned, we still have yet to confirm with lufthansa exactly the mental state of this

particular co-pilot and what shape he was in and how much depression played a a role in his life. >> yeah. and the problem is you cannot judge someone. you cannot talk to somebody in an employment screening. you can't talk to somebody when you're flying with them and see really what's in their head. they may be for six weeks, six years. they may be perfectly normal. and then all of a sudden something sets them off and you have a tragedy. >> phil, what is the status quo in this case both in the u.s. and in europe when it comes to evaluating pilots with depression? >> well i don't know about specifically for depression. but there are physical exams that are given to pilots every year. that's part of the certification process. so it's not as though once you get your license, kelly, you're free to go. that said, it is well-known not just in the aviation industry but in all industries. if you are dealing with some

type of mental issue or depression or burnout, there are a lot of people who keep that hidden. what's unclear is how well known was this? the ceo of lufthansa came out and say he passed all the screenings. he was fit to fly this plane. so he was very definitive in his remarks. the question now as investigators dig into the past of andreas lubitz is that create, or is there something else? >> there is an issue i want to quickly pwrepg up with you. i thought of this today as we discussed the protocol used over there. here in the united states, when a pilot leaves the cockpit, another crew member replaces them so there's always two in the cockpit. that's not the case in europe. norway today said they will change that regulation so there will always be two people in the cockpit. don't you think that should be changed throughout europe as well? what's your opinion on that? >> i think you can change it but i don't think it does everything. say is a flight attend ant want

up to the cockpit. how going to know this guy is doing something wrong? she's not going to know what's going on up there. she's not going to know he's not descending for a perfectly legitimate reason. plus you get a pilot that's 6'3" and 215 pounds and a flight attendant that is 5'1" 110 pounds, what going to do? all sit is window dressing. >> interesting. phil? >> bill, real quick, not only is norwegian air changing its protocol air canada and ez jet doing the same thing. >> wow. i didn't realize that. thank you for joining us today. >> thank you. >> appreciate it. as we continue to follow this major news story, vice has signed a big money deal with hbo to do news five nights a week, bill. >> julia is with shane smith.

julia, talk to us about that. and i would be curious how vice with this new news program would cover what we are covering right now with germanwings air. >> that's the big question shane. before we get to your big deal with hbo, how would you cover the news of this plane crash? >> the competitive advantage of vice, is we have so many offices around the world, so many contributors. we have 4,000 contributors. we like to be on the ground where things are happening. we don't want to be slave to the news cycle. if a story came up months afterwards we would continue to follow the stories. for example, a lot of our stories in iraq are after the news cycle ended in iraq. afghanistan, congo and the same with ebola. we just keep going and get to the stories.

>> the "new york times" today described advice vice's quality -- not quality but as squash buckling. what do you think it meant by that? how would you describe how your newscast will be different from others out there? >> well you know i think we come at things from a documentary film making standpoint rather than a straight journalistic standpoint of let the story tell itself. go to the place, press record. in many cases when we're live streaming we don't do any commentary whatsoever. i think squash buckling means we go in there, we get our cameras in there and press record. in many cases we stay until after the story. because a lot of times the story keeps going. just because the news cycle leaves doesn't mean the story doesn't continue. >> shane, a quick question from kelly here. i'm interested in how you guys are going to start covering news especially on an hourly or daily basis. that's a little bit more difficult than sending someone

out to do a feature length story and often involves making judgments before we know all the facts. what is your thought process for how and when you choose to do these updates? >> that's a great question. we've already been doing it is the answer. we have the largest news platform on youtube. we have been doing daily news on that platform. primarily because of the success of that platform our award-winning and groundbreaking coverage in the ukraine and crimea as that was going on obviously, with isis ebola coverage. because of our success with that, we walked before we could run. now we're ready to go primetime, if you will with that daily news coverage. >> now in addition to your five day a week 30-minute broadcast, you are part of the hbo now streaming app launching next month. what does that mean to have

live streaming news. do you think you'll get people to cut the cord if they can subscribe to hbo now. >> i think you have to go where the demo is. our biggest has been with snapchat. one of the top rated on their discover program. and hbo is doing the same thing. they are moving into digital as we are moving into terres tri al and features. we are learning a lot from them and they are learning from us. but i think what now is going after and you would have to ask hbo is they are going to go where they live that digital audience. you'll be able to get game of thrones, girls, vice all the great hbo shows through a digital platform. >> you have a dozen different deals now. snapchat. hbo, as well as rogers communications in canada. are you going to stretch

yourself too thin? >> yes. how do you want me to answer that? as you can see here, we have so many contributors around the world. we have edit suites all over the world. we do soup to nuts producing, editing, platform. and i think we have sort of been going through a building process over the past two years. we have been getting our war chest together financially. we have been aggressively hiring. we have been building out facilities. you can't just sign the deal and say, let's go shoot news. you have to build infrastructure first. >> are you going public this year? >> i don't know. >> you'll have to keep us posted. shane smith, ceo of vice. we're out of town. kelly and bill back over to you. >> all right. squash buckling shane smith. 35 minutes left in the trading session with the dow down 24 points. kind of holding steady. s&p down three with the nasdaq

down about 11 points. semi conductors and biotechs especially. what could be worth buying on these when we come right back. [ male announcer ] your love for trading never stops. so if you get a trade idea about, say organic food stocks schwab can help. with a trading specialist just a tap away. what's on your mind lisa? i'd like to talk about a trade idea. let's hear it. [ male announcer ] see how schwab can help light a way forward. so you can make your move wherever you are.

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welcome back. look at this. red arrows across the board. not by a lot, but by enough to at least make the headlines. we have had several days in a row now. especially yesterday. equities have really been under pressure. there's the dow with a decline

of 24 points and half an hour to go. it's below the 17,700 market. look at the nasdaq. 4,866. well below the mark. >> the picture looks brighter. nasdaq seeing a little bit more green at this hour. bertha coombs is standing by to update us all on that. bertha? >> bill we saw the ibb try to work into positive territory here. it seemed to have found support there. unchanged much of the afternoon. if you look at the ibb, it is off 9% from its all time high last friday. that is a humongous move as a lot of folks take profit in that sector. the worst hit sector yet is really the semi conductor index. it is off 7.5% over the last four days here.

we're seeing a little bit of buying on the dibs. that's really the issues for the tech stocks. are they going to start seeing slower growth? >> well let's raise that very question. thank you very much. let's look at what's driving the moves in tech. >> joining us is senior analyst at fdr capital markets and founder of disruptive tech research. thank you for joining us. >> thank you. >> dan, it's kind of was 50 years ago today that the decline started in the nasdaq that it saw 33% decline. i'm not suggesting that's going to happen. but what do you think is happening right now? this is the first concerted sell off we have seen. >> 5,000 was definitely the psychological barrier. what's happening here is currency.

we are seeing a strong dollar. 300 basis points of growth. it continues to be a bit shaky, especially in 1q. and think about a year ago. it was a bit of groundhog day. it is buckle the seat belt sharpen the pencils, look for the great growth numbers and i think you'll be awarded if you stay patient. >> do we need to get more specific? semi conductors biotech? what parts have you interested and what parts have you more fretful? >> no, i think it's funny. how spoiled are we with this bull market. 1%, 2% construction in 11 minutes and now everyone is running around henne penny the sky is falling. look for best of class companies. think mobile. doesn't matter what happens in eurozone, people will still be using mobile phones. and companies will be benefiting

for that. best in class in the rf chip market. nine consecutive corners in&double digit sales growth. the rollout of lt e! networks. we're just in the early innings of that. that is a no-brainer buy since november, december. i think you have to be add to go that as well. >> you're taking the bottom up approach. take sreufp stocksthe stocks that look cheap because of security. >> cyber and data. ford net fire. and big data names like tablo and barren. those are the two core growth areas growing 30%, 40%. you find the best of stock and

wait for the dip. >> dan, what would make you change your mind and think there was another sick cal or secular problem? >> i think it would be more fund memory. so far what we have seen is a strength epping in certain pockets. i don't think it's a rising tide. but these are multidecade technology trends that are going to be front and center. >> dan ives, and lou, good to see you both. appreciate it. >> thank you. >> time for a cnbc news update with courtney reagan s. hi court. >> hi. some of the relatives of the victims of the german plane crash visited the staging point in the french alps. they were told before information was publicly released that the co-pilot crashed the plane after locking the captain out of the cockpit.

ceo of salesforce is reducing its investment in indiana over outrage to its religious freedom restoration act which legalizes discrimination and allows businesses to choose who they provide goods and services to. americans bought less soda for the 10th straight year in 2014 according to beverage digest's annual report. coke remained the number one soda. the remains of richard iii, the last english king to die in battle were reburied today in leicester, england. bill back to you. >> that is so cool. i have a friend from college who went to england just specifically for the funeral. >> i was lucky enough to see richard iii when -- who was it?

oh, what's his name. the producer is trying to help me. kevin spacey played richard iii. it was phenomenal. if anyone can ever get to a staging of it, i highly recommend it. they made a dvd of it. >> there we go. we just sold a dvd for kevin spacey today. the dow is now positive. we just turned around in the last moment. it's that kind of day today. up 13 points now. the s&p is up a point. and the nasdaq if we sit here long enough before commercial it will probably turn positive as well. down just a point. and raising interest rates. two of the best minds on fed policy join us when we come right back. warns you about incoming cross-traffic. cameras and radar detect dangers you don't. and it can even stop by itself.

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and now we're negative again. just before the break, the dow turned positive. now down 13. s&p down a point. and the nasdaq down 6. the components of the dow jones industrial average. of the dow 30 -- yeah. ibm is the biggest gainer today so far. and express is the biggest loser. interestingly, technology leads the way.

ibm, intel, apple among the biggest gainers fort dow today. >> maybe it all comes back to the fed. economic data continues to flow. but it hasn't been a rosy picture. it leaves many to wonder how it will be affected. >> joining us to talk about it as we mentioned, two of our favorite minds on the fed. deutsche bank securities and greg yip. tell them what you just said during the break about the fed. >> well if they had a facebook status it would be "it's complicated." they are telling markets, we will be low for a long time. don't worry. rates are going to be at a low level for a long period. now they have moved to flexible. it's a word we didn't think we would have on the way. but flexible means they have increased volatility. this is increasing uncertainty

in a certain way on fixed income. >> are they doing the right thing in transitioning in an environment where they can raise interest rates here? >> absolutely. flexible means it's not a foregone conduction, that the flexibility will be used to raise interest rates. i think this last week or two will will just leave them to plummet. you have data on durable goods. it tells you the real side is doing quite badly. it will be a weak quarter. jobless claims, the labor market side continues to do very well. also weftd two very small upside on core eup tphraeugz. you net that out, and i'm not sure it tells the fed what to do. i think that's of necessity why they need flexibility. >> at least for the me the takeaway from stanley fisher's speech on monday is they are just itching to get started with liftoff to at least begin the process of normalization, that

word they keep using that would take us back to a normal set of interest rates. >> i absolutely agree. how many times did he mention "normal" in that speech. we heard from jim bullard. the more they stay at this the more they risk bubbles. they see the glass half full instead of half empty. some of this data could be taking a turn from the worst. that might be why the industrial sector is increasing. >> close to 300,000 is outstanding. how do you put that together. >> they are never going to get

their perfect scenario. >> saying in a speech on monday in new york well it's never sew it is absolutely clear this is the time we have to do it. he said earlier we never should expect rates to go up when inflation is 2%. still amount of things for us to talk about. >> lots of articles, greg. it is getting passed all over the streets. >> one last point. >> yes. >> i think the baseline scenario has to be that things do start to improve a little bit here. when the fed looks at the first quarter, they are thinking of richard iii and saying this winter of discontent will soon turn glorious summer. >> oh, man. >> that will be the key to start normalizing rates. >> i would go see richard iii with greg. >> weekend viewing. i love it.

i love it. a little shakespeare for you this afternoon. >> s&p down three. down 10 points. >> crude oil surging up. saudi air strikes in yemen. that has the potential to become something much bigger. we'll tell you what's at stake. don't go anywhere.

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welcome back. about 15 minutes to go here. look to go see if markets can turn positive on the close. yesterday, of course the opposite happened. we saw a lot of selling pressure materialize. not large in terms of points. we had red arrows across the board, bill. >> down two. you love this kind of market on the map today. >> there are so many different types of movers. accenture is higher. reporting top sales. thanks to its outsourcing business. negative impact of a strong dollar. red hat shares reported earnings that beat analyst estimates.

cloud commuting, data storage, software solutions. and we'll cap it off with sandisk. it lowered its first quarter earnings forecast. and withdrew its forecast the rest of the year. and sandisk acknowledged the headwinds facing it but said it still remains strong. >> 12 minutes to go here bill to the close. >> and the balance is to the sell side. $500 million of stock to sell into the close. we'll see if that takes us a little bit lower here. the major averages are taking it down to the wire, trying to avoid a four-day losing streak.

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about eight and a half minutes left. still hovering above the unchanged level for the dow and all the averages. joining us is pemco. as the fed takes out the word patient, investors need to become patient. this volatility has to be

racking some nerves. >> absolutely. if you look at where the rate will rise it is more likely we will see rates rise towards the end of the year maybe the beginning of next year. >> will that be good or bad for equities? >> i think, you know what growth is good for everyone. as long as the u.s. growth continues to happen and if rate rise happens sooner because europe is actually doing better that's good for everybody. >> bob, the last

we haven't had -- the nasdaq and seup is down. very rare in q1. only happened four times in two years. the trend has been down. >> so in this cautious market does it make you want to be cautious or do you want to buy some of what's being beaten down right now? >> look for opportunities going forward. what matters is execution. even in energy for example, people are asking is it the next big wave of distress. the answer is so fast. you want to be cautious there. >> all right. stay there. we're going to come back with these folks. as we head towards the close here. it looks like a little bit of sell side is happening as we go

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all right. about three minutes left here. let's review the last 24 hours. a lot happened in the markets. had implications for today.

this is oil the last two days. it doesn't show the futures markets that traded overnight. otherwise, we would have seen an even bigger spike in wti crude when world got out of the saudi bombing in yemen. that pushed our crude oil market above $52. it was a huge move. that took the wind out of a lot of sails of equity markets around the world overnight. and that spilled over into our markets today. this is just the dow today. but the features as bob was suggesting, down sharply this morning. it did cause a selloff. at the low of the day we were 140 points on the industrial average. a slight comeback as we meandered the rest of the day. one bright spot if you want to call it that that has been beaten down so much the biotech sector, this is the biotech index. that is kind of neutral right now. it was down sharper this

morning. positive going into the afternoon. not the case right now. energy, you mentioned earlier. are there other sectors that have gotten your attention that have been beaten down you might want to take advantage of here? >> the other opportunity, for example, is in europe. just not betting on the qe but actual green sheets. four-year high. we're watch to go see if that's more than just a blip. >> europe a lot of people like because of quantitative easing and the stronger dollar. >> we are looking for real fund mentals. . >> big story is that continue of rise in oil. oil was 45 and below a few days ago. now it's at 51. a remarkable move up. we should note how truly extraordinary it is.

joint actions there. this is pretty history skpeubg pretty remarkable. and i know the market has reacted fairly benignly at the close. but historically i think it's very, very important. and i think we need to follow that. >> by the way, the other thing is the yield on the 10-year back to 2% today. had a pretty sloppy seven-year note on the heels yesterday. is that good or bad for stocks? >> i think that's generally positive for stocks. at the end of the day, i think what investors want is to see growth. and it means that investors are going to see growth. >> all right. very good. good to see you. thank you for joining us today. bob, see you later. special report tomorrow. end of today, down from the dow. up more early o. we'll talk more about that in the second hour of

the "closing bell" with kelly and company. >> thank you. welcome the "closing bell", everybody. i'm kelly evans. a rough session on wall street yesterday. let's see how we did ted today. all major indexes were going out with declines. that is exactly what happened. the dow going off with a loss of 40 points. 17,678. s&p, down 4. 2,056. and the nasdaq down 13. michael is here from yahoo! finance and sara eisen and kirk greenberg in the house. welcome one and all. for more on today's action kevin o'leary from "shark tank".

herb, since you're joining us in the house, what do you make of this soft patch for stocks lately? >> it's natural. it's healthy. what are you supposed to say? you have a market that only wants to go up. every time it falls, people freak out. it's no different than the earth's crust needing to let off some steam. this is let off steam. sectors have gotten overheated have come back in. now we will reset the clock. >> we always worry about one thing. that is what are we going to reset the clock. and it's going to keep resetting and resetting. >> right. >> that's the falling knife theory. in this case right now, you have such dynamics. what's going on in the mid east for goodness sakes. that should be the one thing scaring the living daylights out of everybody? >> does it continue until those aoefpbgts mention a events resolve? >> i think the geo-political stuff is mostly noise. people said if we sell off because of these air strikes and because oil is popping, that's

probably one you want to buy. people thought it was going to get ugly today. people thought it would be a deeper loss. if it really does break, if we get a little panic, i want to buy. it never broke. honestly, i really feel like you don't have a lot of obvious support with the treasury yields going up. bond-like stocks are kind of soft. buyer tech stock going down. semi conductors didn't go down as much. a lot of leadership groups gave a little bit of a break. i don't think it's decisive. one thing that strikes me one year ago today almost exactly the same field position. flat for the year at the last week of march. bad january, good february. >> and where were we on the year? >> 13 for the s&p. >> watch what happens as we work through tax season. april 15th the deadline is approaching. the stock market performance means we will get a lot of capital gains tax income. that would help the budget. i don't know what that means for the u.s. dollar. but it stopped going up for now anyway. >> had a nice move stronger. a lot of people saying reload

the trades. most bulls on the dollar are sticking with their bullish forecast. barclays said you can see parody by the third quarter many took it up with the euro dollar parody. i think we have to wait to see for earnings. we saw lululemon get hit. and parent company of calvin klein. it's not a fundamental story for these companies. >> hold that thought. steve is joining us off the floor. what do you think is going on here? >> it is still all basically the dollar and it's still all about growth. if we're in a deflationary state, you have to sort of lock in your gains right now. and the market on a technical basis extremely weak. we're stuck right here at the 1 hyundai moving average. i don't think it's a necessarily

bad idea to sell stocks. >> to sell stocks. kevin o'leary. >> you know what's happened in the last few quarters is you get a tremendous amount of volatility between the positive earnings releases. and you worry about stuff like air strikes, the bad news we got on this german airline. anything to give a people a reason to sell. but then it's back on earnings. there hasn't been major disappointment yet in earnings. so i think buying the dips may not be a bad idea. i've watched volatility increase and yet ever so slightly step up step up step up basis. that sector is on fire. i think everybody is arguing it's overcrowded. i don't think so. these companies are growing at 10%% a year. i can't find it anywhere else in the s&p. >> one thing getting a lot of talk is we're in a buyback period. most of the s&p can't be buying

back stock. >> what does that tell you? >> that tells you all you need to know. >> there's always a mechanical buyer of stocks from somewhere. >> the levels have to be pulled is what you're saying. kevin was referring to the earnings season. it is the weather. and i brought this up earlier. >> the excuse? >> the excuse for the weather. this will be the quarter. use the weather as an excuse. >> or the dollar. >> or the poor congestion. >> look behind the blaming and look down at the financial statements and see what really happened. >> i'm going to go back to the point he just made. corporate not being able to buy stock. they are the buyer of this market since the lows in 2009. if you net everything else out. that's why this matters so much. >> also the reason they can do it is because the credit markets remain so strong. it is how the arbitrage gets played between strong credit markets and equities. if you think it's fundamental, that's good. >> but it goes back again to the

journal and others who have covered the fact we have had record corporate debt issuance. it goes back to the fed, steve. and whether it you would she riskier for them to move now or later given the dynamics. >> the fed is boxed into a corner here. because they don't have that slack, the 10-year versus the fed funds rate. normally they have 400 basis points. only 200 points of slack right now. they will create that inverted yield curve i talked about. so i don't see them raising rates. not because they don't want to. they do. they just can't. >> inverted yield curve. this is where things will get interesting the next couple of years. before we dive down there a little bit, we have had weak action in the tech space. older names. traditional leading sectors like semi conductors that you look to for signals. should we still be using the old playbook. weakness in the semis telling you something? >> it is telling us we're in a

little bit of a soft patch. i don't think it's something you want to extrapolate out. yeah, i think they matter. people love tech coming into the year. and the consumer cyclicals are still working. >> it's the end of the quarter and you're seeing window dressings. some of the strong performers rotating into some of the underperformers, which is energy and materials pretty strong. >> we will get alcoa in a couple of weeks. kevin o'leary, will you be paying attention to them as a barometer? >> i will. they're always firstment. we're into the third quarter of low energy input prices. and my anticipation for the next two earnings releases is that we're going to hear that that is a factor. that earnings is going to be bolstered by the fact that the major cost of energy is down

50%. it took a while to work through the system. watch it work. consumer stocks and industrials as well that have to use energy to create products. i'm very bullish that that is going to make the market move higher by the end of the next two quarters. >> what he is saying about costs is so critical. and it will be interesting to see, now that he's talk building it if idea that's a counter these companies use. you want to hear them saying that. of course if oil starts to rise here because of what's going on now, it will have been put a blip. people think oil prices rising is a blip. >> the durable goods miss was mostly price, not volume. >> it has been weak the last few months. >> it has. it has not been gripping strong. it is an interesting fact. >> but deflation as opposed to a drop in volumes.

look for a silver lining there. >> we'll watch for special job reports next week. with the market closed it will be interesting. >> whether it's oil, dollar or the market what are the key levels to watch? >> 2068 is your 50-day. that is definitely bearish. probably heading to the 2 hyundai, which would shock everybody at the same time, which is 2010. so a 3% move from here. what kevin was saying is it makes sense in a vacuumment the other side if there is slowing growth you have bigger fish to fry. sell some profits. >> we've got to go. kevin, jerry on twitter wants to know why you are involved in biotech. >> you know some biotechs pay dividends. phrma is driving the prices of biotech through the roof.

i have never seen multiples pay like i am seeing now. they are all coming to daddy. no question about that. i'm just getting ahead of those companies buying all these new drugs and new molecules. i love what's happening here. and i don't think it's over. >> got to have a tough stomach i guess for some of these moves. we'll leave it there, gentlemen. thank you. kevin o'leary and steve grasso this hour. coming up, the ceo of solar edge making its debut on the nasdaq today. guy sella. and saudi arabia launching strikes into yemen. that's driving the price of oil. and how it might change the entire picture for oil. why would the co-pilot of a tragic germanwings flight intentionally crash his plane? investigators are trying to determine his motive on the "closing bell". stay with us. i mean, come on.

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welcome back. some breaking news. a pretty big fire here in new york. sue has the details. >> hi kelly. that is indeed the case. 3:15 p.m. this afternoon, a call came in to the fdny about a

possible gas leak. they responded to that. now we have word that a building that was on fire has collapsed. two are on fire. the building is a multiuse building. there are reports that there was a restaurant on the first floor of the building. there are apartments above that restaurant. the address is 125 east 2nd avenue. that's roughly 2nd avenue and 7th street. basically, right now with that building cop lapsed the speculation is it might make it a little bit easier for firefighters. a short while ago there was bill lows of black smoke coming out of that building. now another part of another building has caught on fire. so we don't know exactly how many firefighters are on scene. but it is is now a seven-alarm fire. so that's roughly 200 plus fdny personnel on the scene. they have moved people away from that particular part of 2nd

avenue and 7th street as you might expect because they were worried about the building collapsing. indeed it did a short while ago. it was a pretty spectacular scene. the helicopters, i believe that's the fdny helicopter. we look at the east village scene. we will send it back to you and bring you more information as we receive it. >> sue, did we determine it was a gas leak at this point? >> no. that's the suspicion because the call came in at 3:15 asking them to come out and investigate a possible gas leak. that's the only link we have to the fact that that might be what caused the explosion and the fire. >> lord. sue herrera, on the latest. thank you very much, sue on that fire. crude is rallying for its second straight day with much unrest. hi jackie. >> good afternoon, kelly.

this is the wild card nobody was expecting at this point in time. even though traders did have their eyes on the conflict in yemen. a big pop in oil prices. we were up $22.22. over $52 at one point. this is all about saudi arabia. they are believed to be backed by iranians. saudi arabia does not want to see anymore influence in this region, especially in its backyard. it is the number one oil producer. that's why traders get concerned here. and on one of yemen's borders, ships 4 million barrels a day. and that ends up in europe. when it comes to transporting oil in the middle east even though yemen isn't a producer

it is geographically significant. even though production is ramping up here in the united states, we do import a significant amount of oil still. 8 to 9 billion a day. that is different consistency, used for different things. so we do care what happens globally with oil and supply. and also we have seen tensions flairing knupp libya and iraq. so this is all on the radar for traders. at the same time while they say they don't want to be short, they want to see how this develops before they say wti is going to a six handle here. certainly that's in the cards if things get worse. back to you, kelly. >> caught several people flat footed here. ken moore is executive chair of the global energy symposium. joining us with the rest of the program. a welcome to you. >> hi. >> mike was making the point this event shouldn't have driven people to reprise their sense of where oil is going or their fair

value. do you think it will have an impact beyond a couple of days before you move through the announcements of the air strikes. >> number one. >> i don't think we are looking at events over a framework of a couple of days. we are at the verge of what has to be called arab spring too. the real problem and the nasty thing coming in the region is that the sunni/shiite disagreement is now at the center of things. even though yemen does not have a major card to play in the exporting of oil, the entire region now is becoming less stable. and that is distance hurting. >> what about the conflict that brings to mind analogies to that period? >> arab spring or something like it has been building in the region for some time. the difference is that the first time most of the nations were able to avoid a sunni/shiite disagreement at the center with the exception of bahrain and

they were able to buy off antisocial programs and government benefits. well that was funded at much higher prices of oil. there isn't the luxury this time. the opposition is coming back. and the situation is less stable. >> one thing, kent that i don't fully understand as well as the extent to which people use yemen as a proxy for iran and saudi arabia. we're work to go some extent the u.s. is with iran in iraq right now. yet we are working with saudi arabia obviously with this situation in yemen. so does that leave us funding both sides of this conflict? >> essentially. we are not directly funding the iranians. we are, however, work with them against isis. the problem is that the huthy rebels are yemen. that is bringing saudi arabia

and iran back to the table as adversaries. king solomon is far more ins trance gentlemen than the predecessor and that doesn't bode well in the region. >> you're painting a pretty scary picture, kent. especially when we talk about two major oil producers. what kind of premium do you think that warrants on the price of oil right now given we are just drawing $50 a barrel on wti? >> it remains to be seen, kelly. we must remember the second stage occurs rather quickly. we have have an incursion into yemen. egyptians are currently mobilizing on the red sea to mobilize that effort. in terms of premium itself i'm looking at 62 to 65 by the time we get to july and 72 to 73.

anything is possible. >> especially this time of year. kent thank you for your thoughts. global energy symposium. we have an update i believe on that fire that has broken out in manhattan per the fdny. two patients transported to area hospitals. more on that story in just a moment. president obama, meanwhile, hitting the road to tout the economy. is there much to tout on economic data. robert wolf will weigh in next. he'll join us right here. and would requiring companies to disclose even more information home volatility in the market. levin capital strategy ceo says yes. he will make his case coming up on the "closing bell".

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welcome back. the economy front and center. president obama set to speak on the topic this hour in alabama. these are live pictures in fact. recent economic reports suggested we may be hitting a bit of a speed bump. joining me is robert involve 32 advisers. former fair man of ubs america. >> great to be here. nice to see everyone else. >> full house for you. >> always good. >> what's the president's message going to be? >> he's together to talk about the consumer protection agency what they are doing on payday lending and subprime mortgage, credit cards, and how they are making sure that people who are

taking out the high interest rate type of credit cards and stuff understand what they are doing and that they are being treated the right away. away from that, the president has had the same message on the economy. it is doing well but needs to do much better. i think if you would ask he would probably say the glass is half full. it used to be half empty but nowhere where he wants it to be. >> whether it's clinton or elizabeth warren what message do you tell them? what message will resonate the next 12 to 18 months. >> well i think the most important thing right now for us is infrastructure. >> you're not going to win an election on this juncture. >> i didn't say win an election. i stay in my lane. >> what's the central message. >> well the message is a little two things. it's economics and foreign policy. the economic message is going to be getting the middleclass going better. that's just a general message.

how that is so generic. it is how you do that. and i reason i say infrastructure. it is the fastest multiplier gdp growth. >> we love it. >> 1.6 billion multipliers. >> the numbers i saw, 47% of households have zero personal savings rates. when i talk to the smartest guys i know i say what about inflation. they say there is inflation at the high end. the apartments that are going from 80 million to 170 million. that's real inflation. when that falls, how does that trickle down? i almost think it is like a pyramid that is upside-down. a little wind comes over and the whole thing crashes down. >> trickle down commitments has not worked the last decade. what worked during the reagan era is not working today. >> message on corporate tax reform is not going to be the right strategy? >> i think there's a need for

business tax reform. corporate tax reform is incredibly difficult. right now you have to close an incredible number of loopholes to stay revenue neutral. it is just not happening. what is interesting today is we live in the land of volatility. i was listening to your show. what's going on with oil and in yemen. what you all talked about, are we going to have a new budget debate and debt ceiling debate. although you have been talking about it more than other shows, the strength of the dollar and the neck impact. i know sarah speaks about it all the time. but the negative impact on the economy. how it is hurting manufacturing, capital goods and exports, which is why i am a free trader. i'm a proponent among the export council, as you know. >> right. >> as a democrat i am pro free trade guy. i think it's critically important. >> you are starting to hear more complaints about it.

i think he was talk building china which has been the refrain on both sides for a long time. do you think there's support building from the business community and from politicians to do something about these currency moves? >> two-fold. one is absolutely business backing and congressional backing for free trade. it is more of the democrats who are not for it because of the impacts and unions. with respect to currency manipulation, i wouldn't agree with that. we have lived in the land of the lowest rates. whatever country brings rates lower, they've seen you know better consumer spending better exports, better fdi. and we were there for a while. >> why can't the president convince his own party to pass a free trade bill? >> well he would love to. first of all they would love to pass trade promotional authority. that's the most important thing so he doesn't have to debate each and every point. it would allow him to pass an agreement on behalf of the

entire u.s. that's the most important thing. i would say they have a good chance of getting it. i think it was 70% and now it's 55%. as you get more into the 2016 election, free trade is very difficult. the progressive democrats are very difficult for them. >> how is a strong dollar not a good thing? late '90s, walmart imports everything, it is cheaper passing it through. why not be an instrument of that much outrage. >> i'll tell you a few reasons. one, we are one of the lowest export countries in the world. it is 13% of gdp. exports is a real driver for our economic boost for economic manufacturing. number two, travel and tourism. people like to come here. stronger dollar. i would say we have not been around a strong dollar for a

very long time. i would think the jury is out whether a strong dollar is something that's going to help us economically. >> who do you think has the best message for the middleclass right now out there as you see it? >> well i haven't really heard that much messaging at all because it seems like right now you have 15 republican candidates. and it's hard to really decide what they are talking about each day. certainly i would like to think it would be hillary on the democratic side. and i hope she stays center left. i hope she is not pushed too far left. we have had this discussion before. i hope they stay center left. neither side can go too far one way. >> robert wolf please come back. >> thanks for having me. nice to see everyone. >> sue herrera joins us from headquarters. hi, sue. >> an update on that story we

brought you and is still developing. at least 200 firefighters are at the scene of a seven-alarm fire and building collapse in the east village of new york city. at least one person has been critical injured. two buildings are now on fire near 2nd avenue and 7th street. there were reports of an explosion before the fire possibly a gas leak an fbi expert told the jury in the trial of boston marathon bomber dzhokhar tsarnaev said the bombs weren't that difficult to build. instructions are easily found on the internet at least one person is dead after a semi collided with a simple texas overpass causing a beam to come crashing down on vehicles on the interstate below. the rig was too high to clear part of the overpass. traffic was halted in both directions. overseas greece will encourage investors as part of reforms aimed at reaching a deal with its learned by monday.

this is to unlock much needed aid for the embattled country. that's your cnbc update. back to you, kelly. >> sue thanks very much this hour. 150 people died in this week's tragic germanwings plane crash. the co-pilot may have intentionally brought the plane down but why? investigators trying to figure out the motive of this tragedy when we come right back.

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welcome back. germanwings crash has been declared a deliberate act by the french prosecutor. the fbi has been asked to assist in this investigation. phil lebeau joins us with the latest details. what have we learned? >> i want to show you new video we received from france that gives you some perspective on how much debris is scattered over such a wide area. in the past we have been way up high. we haven't seen this much detail. look at this. this is a very rocky and frankly it's going to take a long time for them to recover anything from this area. that gives you some perspective there. the questions center around this man, andreas lubitz who was the pilot, the co-pilot of the plane who was in the cockpit all alone, flew it into the mountain, according to french prosecutors. he's 27 years old.

or was 27 years old. he had 630 flight hours. relatively new to the lufthansa system. he joined germanwings in 2013 their subsidiary. they are looking at three things involving his past. reports that perhaps he might have suffered from depression or burnout going through pilot certification. he took a leave during pilot training. the ceo of lufthansa was asked about that. he said it's not unusual for a person to take five or six-month leave. but he passed the physical and mental exams afterwards and that he was fit to fly a lufthansa plane. that may be the case in terms of what the ceo believes. but many people will be asking questions about his background, mr. lubitz's background and whether or not he should have been certified to fly this plane. kelly, back to you. >> phil, thank you for now. we want to find out what his

motives were if in fact he crashed the plane on purpose. u.s. special agent david katz. david, good to see you again. >> thank you so much. >> your thoughts given what phil just laid out here about this pilot. >> what they are going to do now is check into every facet of his life. i'm sure they have been through his home their computer, they are probably downloading his hard drive. they will interview anyone who knows him, friends, associates co-workers and try to put together a profile of this man and state of mind. that's the first step. >> the fbi is going to be involved. so at what point are they trying to determine whether, you know this specific individual has a profile that points towards his behavior versus some say, look might have been just general psychological issues that kickback on to lufthansa and how they handle these situations or the airline more broadly. >> i think one of the things that will be illuminating, they will look at what sites he's

visited, who he communicated with. maybe he has researched mass murder or depression. you think about the things you suffer on a daily basis, that's your likes, dislikes and things you are thinking about. >> how hard is it going to be to find out what the motive was for this? >> we already had -- we have a report that apparently in 2009 he was suffering from depression. so that's going to be a focal point. as i said, you're going to talk on to people. what you hear now is he seemed like a regular guy, gregarious outgoing. you got a warm feeling being around him. but you're going to find someone who knows him better that says there's another side to him. >> you can say that about so many pilots and so many people. >> you're right. >> that's what would scare you. you wonder if there's this momentary just a moment that he waits for the -- we can speculate about this as much as we want. but, you know you can't do background checks into that. in other words you don't know.

is it a needle in a hey stack situation? >> well, you can keep track of a person's mental state as far as their medical care. there has to be mechanism if he was seeking medical care or treating for depression. >> but is it a risk? >> if you buy a firearm, you have to certify when you're making that, have you treated for this? i submit when you have the lives of hundreds of people in your hand that's under a greater level of scrutiny. you're right. you could be a bus driver. you can be a train operator. it's the same thing. that's the unfortunate danger. >> what happens when you're going with a sense of looking for a motive looking for suspicious behavior or worrisome, troubling behavior. how do you then ever know for sure depending i guess on the black box that can be gleaned. somebody might have been issues for example. he was somebody who

intentionally grabbed at this plane. >> i think we know now based on the recorder, the conversations, he refused the pilot access. he calmly piloted the plane into the mountain side. despite the frantic screaming and pounding. so that's a clear indication unless by some twist that we don't understand that he was rendered unconscious which seems unlikely he did it on purpose. >> does this bring a question into how rigorous the tests are, the checks by the lufthansa ceo. he passed them. do we need to have stricter tests or is this anything that can be testing for? >> as a federal agent you have to have your security clearance reviewed every five years. sometimes they're late but that's a process. and for persons involving really their judgment and state of mind reflects on the safety of the public. maybe every few years they have to be interviewed or do a psychological survey. >> i'm starting to see a response already.

david, thanks so much. global security group, david katc. >> kelly, the incoming cfo at google ruth porat was announced by a regulatory. she will earn $650,000 annual salary. in addition, google has agreed to pay a special one-time signing bonus of $5 million. that's prorated if she decides to leave within a year of starting at google. google will make equity grants a $25 million new hire grant to be made right after she starts and invest at the end of december and up quarterly thereafter. also a $40 million biannual grant starting in 2016 as well. so again, $650,000 base salary $5 million signing bonus, $25 million grant, and $40 million biannual grant from 2016 through

2019. also miscellaneous expenses. those are the details of the new compensation package at google. probably why she left to be one of the most successful people in silicon valley. >> this would seem an unlikely fit with that narrative. 12015, three months of volatility. one hedge fund said poor disclosure standards for public companies. he will make his case when we come right back.

volatility has been the name of the game for the market this year. my next guest said if companies disclose more information, there would be fewer stock swings. levin capital strategies ceo. welcome back. >> it's good to be here. >> are you sure it would help with triple digit swings? >> let's look at yesterday. all the biotech stocks had a huge swoon? was anything wrong with their particular drugs? some can't respond. my theory, and it's basic theory, the market should be set by competitive professional investors interacting. >> a quiet period where there's no information. what happened? volatility of rumors. computer driven.

and inside information of the people who know what's not disclosed publicly. >> we need to do away with quiet periods? >> it would help you out a tre men tremendous amount. the question is if you were to give -- you accessed information, the old way, that i don't have access to that same information. is that good? if they're going to do more disclosure, shouldn't it be broader disclosure? or do you want to get in there, have your analysts call them and basically get in and get the answer that the guy in the office isn't getting? >> fair point. i would rather have it open and more disclosure, everybody have access to it. i picked biotech for a particular example. it is not an example of what the earnings will be and the sales are. this is a two, three, four-year investment horizon where people just want to make sure what the

company said remains more or less true in a volatile world with computer trading and a rational and irrational market based on currency, interest rates, claims falling down and a million things. so i think it would be ferrer markets for the public to have more people with more professional information. >> mike? >> is it demonstrable that they move forward even though they move fast senator. >> i don't know anybody that's demonstrable. i'm not getting hook odd any number i can't prove. i will tell you if you sit there on a daily basis, it feels like it is about to be more volatile. that definitely affects people paying attention to the market. when it goes up it seems like it will go further. >> it goes back to the argument we have been having a year now, whether it's high-frequency trading, the points that you're making. how bad is it? how worried are you about the fund mental structure and decisions that are being made

every day? >> again, that's not my ability to answer that. what i can say is i think there are more factors, computer trading, currency trading, interest rate trades. a lot of stocks go up with natural gas. the programs are programmed against it or congruent with it. they are in the market and having bigger swings on a short-term basis perhaps because of these information factors. >> speaking of short-term basis, your view on activists and how long they should be required to hold sticks. >> bingo. a hot topic subject for me. first of all, what is an activist? my view is that an activist needs to be defined. just like somebody in the hedge fund can't get new issues. >> registered even?

>> i'll pick one just to get the conversation going. i think if you filed more than two proxy statements in a year attacking companies or three in two years, you're an activist. what that means to me or what i would suggest just to get it going, because reasonable people and unreasonable people also have different views on this subject and what to do. if you took my role you wouldn't be able to vote. if you're an activist for two years until you bought stock. >> two years. >> that is actually what i would call for a negative tenure rule. if you notice this week about 10 days ago, scott stringer of new york, with bank of america, filed a k and put in a remarkable tenure rule. as best i remember if it was up for between 1 and 20 shareholders own 3% of the stock stock

continuously, they could nominate, and i guess control and elect, 20% of the board. that is a tenure rule. and i think tenure rules are different kind of problem that would disenfranchise shareholders. i want to -- i want to slow down the activist process. >> almost out of time herb. but your thoughts? >> it makes a lot of sense on one hand except when there's really a terrible management team in there. and then you want them to be able to get in there and at least do something. but this point about holding it it puts it more in all shareholders. i think that's the point you're trying to get to. that all shareholders get the same benefit. >> exactly. >> and they don't get to come in and hold them hostage. >> john, come back and we'll continue the conversation. >> thanks very much. >> john levin of levin capital strategies. >> is there gold in them hills? cnbc seems the to think so. readers were flocking to one gold chart in particular, grabbing plenty of attention. it's on the hot list and we'll show you when we come right back. to 3d prototyping, biotech to clean energy.

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♪ ♪ i'm almost done. [ male announcer ] now you can pay your bill... ♪ ♪ ...manage your appointments... [ dog barks ] ...and check your connection status... ♪ ♪ ...anytime, anywhere. ♪ ♪ [ dog growls ] ♪ ♪ oh. so you're protesting? ♪ ♪ okay. [ male announcer ] introducing xfinity my account. available on any device. turns out if you put the term, "three black crows" and the word "doom" in a headline it gets cnbc.com readers clicking. adam waszler, isn't that the case? >> that's definitely the case. people have been flocking to this story all day long.

three black crows. what it is if you do a campbell chart, you will get three big black blocks over monday tuesday, wednesday this week because the s&p closed at its lows for the day. that's pretty rare and it's rare still to get three in a row. today, we did not get the fourth crow but still, it made traders all antsy and stuff and the readers just -- >> readers too, it sounds like. >> yeah in a big way. another one, gold. especially when the market is doing topsy-turvy stuff like it has been lately people flock to our gold stories. we had one today based on an interview with rich ross he sees a double bottom in gold trading around the 11.40 mark where it dipped down touched that, and bounced back up again. the gold bugs were all over that today. and then retirement another subject big with our readers. once again, we re-visited the 4% rule, you know where when you're retired, only withdraw 4% a year from your withholdings and you should be okay. maybe not. we have some experts in there

saying if you do that there's a 30% chance you will not have enough for retirement because of health care costs and the kind of returns you're getting on sort of safe assets these days. >> alan you're not invited back tomorrow unless you bring some better news. >> it's fun friday we'll work on it for you. >> thank you very much. with new turmoil in yemen and saudi arabia and the recent fluctuations in crude prices we'll be talking oil on "closing bell" tomorrow. in fact with a very special guest, the ceo of chevron, john watson will join us. you won't want to miss it. that's tomorrow on "closing bell." back with some final thoughts in just a moment. let me talk to you about retirement. a 401(k) is the most sound way to go. let's talk asset allocation. sure. you seem knowledgeable professional. i'm actually a dj. [ dance music plays ] woman: [laughs] no way! that really is you? if they're not a cfp pro you just don't know. cfp -- work with the highest standard.

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welcome back. you're looking at a shot live from 30 rock in manhattan over that building fire that we're now getting more details on. an explosion and fire in new york city with sue herrera. what else can you tell us this hour, sue? >> it's a very large fire as you can see, from that particular shot from the top of the rock. we can say that it is a seven-alarm fire at least 200 plus firefighters from new york city and surrounding areas responding. that picture kind of puts it in expensive. that middle shot that you saw there was the building that collapsed. the building collapsed and two other buildings are on fire. con edison was called this afternoon as was the fdny at

about 3:15. they were asked to come out and check about a gas leak but we do not know if the gas leak and subsequent explosion is what has caused this situation. it is a multi-use building, the one that collapsed, anyway. it is thought to have had a restaurant on the first floor and apartments above. it was a huge explosion. we have now 12 people who are injured, three are critically injured, kelly. so you're up to date. >> sue herrera, thank you so much, sue. and my thanks as well to the panel. everybody here for joining us this hour. time for "fast money" with melissa lee and the gang. melissa, what do you have on tap? >> hi there, kelly. an apparent quiet day on the market despite the reversal. we had a hot ipo come to the market here on nasdaq. solar edge a maker of inverters for the solar industry. that finished the day higher by 15%. we have an exclusive with the ceo coming up. >> 15%, all right. straight over to you guys. >> thanks. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square i'm melissa lee.

our traders are here. here's what's coming up tonight, downgrading tesla. a major move from outperform to underperform. we have the man behind that move coming up. and solar edge popping 15% on its first day of trade. we'll talk to the ceo in a cnbc exclusive. here's the one chart that really caught our eye today. sandisk closing down 18% after cutting its revenue outlook. the semiconductor index, which got whacked yesterday, closing down more than 1% space. dan nathan should we be worried? >> you should be. this is how it happens. when you look at the pc supply chain and the smartphone supply chain, we've seen a weakening for months almost for quarters in a way.