december. >> dan, we left you hanging with one question. >> you're my best friend, sir. i'll see you again. >> thank you. >> a love fest. mobileye down. we'll give you the trade at 5:00. welcome to "closing bell." what a show which have today. i'm kelly evans at the new york stock exchange. >> i'm bill griffeth. this is the most important hour of the trading day. i saw it on twitter today. >> we have a rally on our hands in equity today. the dow was up 100. then back to neutral. now up 90. s&p is up 10. nasdaq up 35. oil has been an influential factor in today's trade. wti oil finishing up, finished

up in the regular session about 4%. it's since come back in the electronic session. that has been a big influence on equities today. >> for that reason we'll see how stocks do into the close. art cashin mentioned, there is a strong relationship between these two. t-mobile fighting back with its own plan. >> books shares falling despite strong revenue and billings they reported last quarter. ceo aaron levie is back with us. they just came public this year. >> we start with the markets. stocks are up, now futures were down earlier today. >> china with a big growth problem, brazil downgrade, russia a mess and india's okay.

a few years back somebody said these brick companies were great but when that brick is around your neck and the water is rising, that is not a good thing. you can drown with that brick. >> i'm not bullish because i have problems with earnings growth, problems with multiples, all kinds of problems so i can't call myself a bull. if we have a 20% correction, i would buy. >> we have to come to certain new realities. while they are adjusting to those new realities, there will be blood -- no there will be volatility. >> david has become an influential market prognosticator, just when he made those comments this morning on "squawk box" futures fell on his word he was not as bullish in the past. let's get reaction.

we have amy wu from rbc capital markets, luke tilly and jonathan corpina. jonathan, i'll start with you. this has been a theme. even though the markets settled down after the tremendous volatility the last few weeks, plenty of people, i would put david in that group, waiting for another shoe to drop. this volatility is the new normal. growth has not been as strong as we wanted domestic and international. earnings season hasn't added that buoy we've seen in our market. there is so much uncertainty what is going to happen with the fed if they don't raise rates next week, we'll continue to have this conversation about uncertainty. this is the new normal. we need to get used to it. i think this market does have

room for a pullback as the uncertainty continues with investors not putting money back into this market. >> did you guys increase or reduce your exposure to stocks the last couple of weeks? >> we maintained our exposure. we think the main source is the uncertainty about the fed. also uncertainty about growth in china's economy. we think risk assets are the place to be. >> amy, you measure the sentiment in the options market and what the expectations are. what's the market expecting here, much more volatility or not? >> things continue to remain quite elevated. i think that tells you that they continue to expect more volatility to come. i think part of it is, if you look at the summer things were so rangebound it took people by surprise. people forgot the vix could be where it is right now. i think it would be cathartic if something did happen next week

we would have one aspect of that uncertainty off the table. >> is the vix part of the problem? guy adami brought this up a couple of times saying it's some of the positioning we are seeing in the derivatives markets that enhances the moves up and lower. >> short term the answer is yes. on the longer term, more fundamental term, we are seeing investors considering selling puts. teper said i would be buying down from here. other people say committing to own 15% below these levels is not a bad idea. >> what role does oil play in leading this market or influencing it? is it a currency play or what's going on here, do you think? >> i think if you go back six months ago there was this correlation between market moves and oil moves.

it's become so disconnected now. the volatility we've seen in oil has shown us that the pull away from equities to that commodity is clearly in effect right now. the current play now is to wait for oil to come back down, hopefully buyers come in and buy on the dip and get back to the $ $50, $52 range. >> let's show everybody the sector board if we can. what is interesting how normal it looks. we are back to the trading patterns that prevailed much of the year where health care is out front leading the way. technology having a good session. are those areas attractive to you guys? >> we've been overweight financials and health care and technology. this far into the cycle may be counterintuitive. we believe the economy is strong and there is still room to run for the u.s. economy. we like those areas. >> why do you think when we

heard from citi's chief economist saying china will pull the global economy into a recession, more and more lining up saying they think we are nearing the end of a business cycle. why do you feel differently? >> it's been such a long, steady growth coming out of a deeper session. the fact we are past the average length of the average recovery isn't indicative of where we are. the slow, steady growth combined with economic indicator we are looking at indicate we should have growth the next nine to 12 months. >> there are the ten sectors in the s&p 500 index. health care leading the way there. we've got telecom the only one in negative territory. amy, you mentioned the rangebound trading. we broke through that range. are we going to widen that range or what do you see happening here? >> originally people would look at spreads. we are not talking about owning put options. one thing that would tell me,

people want to protect not in a range but for something extreme. that may be harkening to some sort of increase in volatility for the next couple of months. >> that is the other shoe. >> exactly. how unusual is that for people to be positioned that way? >> into year end, there is always positioning. i think it's the fact the type of positioning has changed to some degree. instead of spreads looking at payouts, i would be interested in tails. that is a subtle difference in the positioning and hedging to the down side we are seeing interest in. >> love it. >> good to see you. thank you for joining us today. >> let's talk about brazil. shares lower after standard and poor's cut its debt rating to junk status. >> finally, some are saying. our chief international correspondent michelle caruso-cabrera has details on the fallout. >> brazil's credit rating is the latest casualty of that massive corruption scandal that's been engulfing the state-controlled

oil company petrobras. that scandal led to dozens of arrests and destroyed nearly all of president del ma rousseff's capital. the prime minister nearly resigned out of embarrassment because he promised investors brazil would deliver a budget surplus. new budget comes out. guess what? big deficit. add to that the global collapse in commodity prices pushing commodity-dependent economies like brazil lower and leading to a slide in the country's currency, the real. that adds to pain for global investors. when you look at the brazil etf, it's down 54%. you as an american if you bought it, your real is lower, as well. in the past when an emerging market was cut to junk it often marked the bottom. ubs told clients not this time. they think there is more bad news to come, whether it's the

corporate bond market down there or the stock market. >> brazil is a huge story in its own right. the key question for most investors is how systemic is this? what are the linkages to other financial systems, ours included? >> when you look at the charts, they've been suffering for more than a year, right? if there was going to be some big systemic impact, we probably would have seen it. i say the one thing is that we know petrobras bonds in particular are very pervasive in a lot of the pension funds in the united states. people might feel losses in certain parts of their portfolio, but systemic crisis, it's not greece. >> is del ma rousseff going to stay in power? >> there was talk of impeachment. >> that is a big question. there is a big vote in october related to financial accounting. if that goes negatively, the chances of her getting impeached are higher. it could be she can't control the parliament any more and she is not going to be able to stay

in power. they'll have to come up with other new elections. she is in a lot of trouble. >> there was a debt option today canceled. is that because of the cut in s&p? >> market conditions is what they cited. that's being driven by the fact they were downgraded twice in a week they tried to borrow money. they tried to borrow locally in local money under local injures particulars. they didn't want to pay the high interest rates they would have to pay. they canceled the auction. shows how they are struggling to raise money. >> all right. thank you for now. >> thank you. >> michelle caruso-cabrera with another black eye for brazil. >> 50 minutes to go in the session. stocks holding on to positive territory. nasdaq having the strongest session of the three up 36 points. >> the ceo of a company called box aaron levee will speak with us. how he plans to stem the cloud storage company losses as they

raise revenue and growth estimates. but first, guess which airline ranked worst in the latest air travel consumer report card? bill? >> hmm. >> that's next.

♪a one, a two, a three percent cash back♪ next. there's gotta be a better way to find the right card. creditcards.com lets you compare hundreds of cards to find the one that's right for you. just search, compare, and apply at creditcards.com. everyone is looking for ways while to cut expenses.s unique, and that's where pg&e's online business energy checkup tool can really help. you can use it to track your actual energy use. find rebates that make equipment upgrades more affordable. even develop a customized energy plan for your company. think of it as a way to take more control over your operating costs. and yet another energy saving opportunity from pg&e. find new ways to save energy and money with pg&e's business energy check-up.

[is the staying awake part...t challeng( gun shot )your day sleep train has your ticket to a better night's sleep. because when brands compete, you save. through sunday, during mattress price wars, save up to $400 on beautyrest and posturepedic. get interest-free financing until 2018 on tempur-pedic. plus, helpful advice from the sleep experts. but mattress price wars ends sunday at sleep train. ♪ sleep train ♪ your ticket to a better night's sleep ♪ yesterday we lost our gains. turned into a big drop at the close. today relatedly, crude oil is rising after a report showing strong demand for gas. that is pushing crude up about 3.4%. it has been tracking stocks lately. that data overshadowing a report

that showed stock piles rising last week. >> i paid $2.19, that was the lowest i paid on vacation. >> still too high. >> it does feel high. let's check movers in the market today. lululemon getting crushed with investors focusing on the yoga apparel maker's softer than expected guidance. ever core isi downgraded lulu to a sell cutting price target to $48 from $53. earlier price target was $60. dollar tree losing ground with credit suisse downgrading to underperform and cutting its price target to $60 from $70. it's now at $66. the firm citing execution risks from its family dollar acquisition. the department of transportation unveiling its air travel consumer report card. let's get straight to phil lebeau with the details on who failed and who passed. >> july is the month we are looking at here.

generally it was a good month for people who were flying domestically here in the united states. here are the top five airlines in terms of ontime arrival. hawaiian, alaska, delta. we always see them at the top of the list. american and express jet. 78.1% of the flights were on time. some airlines didn't make 78%. look at the bottom five. spirit at the bottom. frontier, southwest, united and jetblue. all coming in below the industry average. overall, when you talk to people about the month of july in terms of flying, you probably heard good things because there were no extended tarmac delays. generally speaking we had good weather, fewer mishandled bags relative to the same month a year ago. customer complaints were up 31%. people said they have to love these low jet fuel prices. investors have been selling the airline stocks along with the

rest of the market. that's why even though the airlines will be posting big numbers for the third quarter, the airline stocks remain under pressure. >> do they break out what the complaints are about? what are are they complaining about, do we know? >> most of the time it's regarding scheduling, delayed flight or canceled flight. my favorite part of this report every month is they also track the number of compliments. there were more than 2,100 complaints. there were five compliments. five people said i had a nice flight. >> i was just going to say jokingly, you could count on one hand, but you literally could count them on one hand. i love that. >> in july i happened to have great flight experiences. i know this is going to come back to haunt me, i had good experience this whole year with being on time, no issues with bags. sometimes i feel like it is much too easy or more easy to complain than to reflect a positive user experience.

>> it's hard to say whether or not overall people are happier. when you look at the latest metrics in terms of consumer experience, most those show people are not as happy as they were a few years ago. that is because we have more crowded schedules. consider yourself lucky you had good experiences this year. >> i have a feeling luck is about to run out. >> you never know. >> phil, thanks very much. i love that. five compliments that whole time. we have a possible deal in the biotech industry. dominic chu with details. >> what we are watching are shares of zs pharma, about a $2 billion biopharmaceutical company. soaring by 28%. it's off its best levels today after bloomberg headlines said swiss drug atellion was to consider it as a takeover candidate and they held talks

some time last month. the story goes on to say it's unclear whether they had talks since then. also that etellion is looking to evaluate a number of different types of candidates for a possible acquisition. that's the reason why shares are higher. zs pharma based in texas specializes in hard to treat conditions, diseases, mainly around cardiovascular, liver, renal. a multibillion dollar company at this point. possibly a takeover candidate, so say some bloomberg headlines. that is the reason those shares are moving. we'll bring any more details if they become available us to. back to you. >> dom, thank you so much. >> i want to know what the five compliments were. 40 minutes left in the trading session here. an anemic rally. dow up 75 points. it's been all over the map led higher and lower at one time by

the price of oil today. >> the reversal today, shares of box falling on widening losses despite the better than expected results which initially saw shares up. box ceo aaron levie will speak with us at a first on "the wall street journal report" interview next. one of the visionaries behind verizon's latest move to attract more millennial users to their mobile device services. how verizon plans to make money from this free mobile streaming service. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep it all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. add new business services with at&t and get up

to $500 in total savings.

ahh... steve, other than making me move stuff, ces. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this.

the dow losing steam here. s&p 500 up almost 0.5%. nasdaq having a nice session up about 0.75%. here is the nasdaq 100 heat map. about 3-2 gainers outpacing decliners on the session. notably those decliners still include netflix. tesla, elon musk was on the colbert show last night. nevertheless, it's not one of those and wynn is the big loser. >> one day after apple announced a grand plan for its iphone, t-mobile has come up with a plan of its own that undercuts the technology giant.

t-mobile leading the charge. starting this saturday, you can preorder a new iphone for $20 a month or the iphone 6s for $24 or at the hand hand back the phone or pay $164 more if you want to keep it. you're paying $524 for a phone that retails for about $650. t-mobile says this special introductory pricing won't last long. they don't specify how long exactly. t-mobile's ceo john legere calls the deal a no-brainer. >> apple hoping to boost sales of its iphones introduced this new installment plan of its own. users can upgrade to a new phone every year. and choose the carrier whether it's at&t, sprint, t-mobile or verizon as well as get an extended warranty and the cheapest option is about $32 a

month for a 16 gigabyte iphone6s. priceiest option is $425. >> i feel as though this news almost got lost amid everything else happening yesterday. this is a big deal. suddenly apple is in the financing business and going direct to consumers? this is a big change. >> consumers have that much more flexibility. you don't have to break the contract and pay to have that much more money. it's interesting for the carriers. carriers have been switching from the contract onto stall model. carriers usually lose money on the handset so they are happy to has it off to apple. where they make money is wireless service until apple came out and said we are going to sell you the phone and service.

tim cook didn't announce that yet. >> i haven't figured out whether losing the two-year deal will save me money or not. i'm using the same data and paying for that. >> we need some calculator for th that. >> apple has been financing computers. let's get to sue herera for an update. >> here what's happening. ellen powell who lost her sexual discrimination lawsuit. she has been ordered by the court to pay the firm $275,000 in legal fees. democratic presidential hopeful bernie sanders says he is feeling pretty good after a new poll shows him up over

hillary clinton in iowa. he told reporters that his campaign will put resources into states beyond iowa and new hampshire. >> new york city's police commissioner bill bratton says he and mayer bill de blasio want to apologize to former tennis star james blake who was thrown to the ground and handcuffed by several officers in what authorities are calling a case of mistaken identity. radioshack has won court approval of a settlement involving gift cardholders in its bankruptcy case. 1/3 of the $46 million in outstanding gift cards will be paid in full. general wire life which bought radioshack trademark and more than 1,700 stores agreed to honor all cards for 50% off merchandise purchases. you are up to date. that is the news update. back to you. >> let's talk about verizon. they have a streaming service called go 90. if you want to watch a movie,

you turn your mobile device 90 degrees so it's horizontal. got that? it's free. eventually it will be for everyone, not just verizon users. it's part of this broader push for digital growth aimed at millennials. >> guilty. >> president of product innovation in new businesses at verizon. welcome to you. this is a content product or new delivery? >> maybe if i could start with just the industry trends and dynamics. if you take a look at viewership you know many are moving to a mobile first orientation. less people watching on traditional. millennials moving to their mobile device. many over 40% never had traditional tv.

you have advertisers and brands trying to reach that segment. we put together a social entertainment platform for a mobile first generation. it's about creating the best content, having the best of live on demand, merging content with the web. then creating a compelling experience around that content. we know that consumers use 47% of social media when they are watching content. so we created a sharing experience where you can cut and clip and share your personal favorites with friends and fans. so it's all about creating fans, not viewers in our product. >> you're using the ad model. you're not a subscription service. you are going to make money theoretically by selling ads for this, which is the old fashioned way. why did you decide to go with that business model?

we also know we need to create a compelling experience for consumers in exchange for that. we think we've done that. we do have aspirations at some point to do subscription. primarily it will be ad subscription now with the opportunity to do some premium content in the future. i have bill's mobile phone. i download this 90 app then what? >> you'll be able to follow the kind of content you want. you can follow friends and the kind of content they want. you can join cruz. you have the ability to clip and share the content to express yourself through the content you like. you can have conversation plus consumption of content on the application. >> are you pulling --

>> are you pulling social networks like facebook and instagram or more traditional tv content and allowing me to clip in and share and be a fan of it? >> the content is designed around the millennial segment. i would say gen-z. also the best of live. all of that content will be in the platform. in terms of sharing, you can share inside the application or soon be able to use facebook or any of the other methods you use to share outside the application, as well. >> the thing that got this baby boomer's attention, you are going to show nfl games on this. i know they are developing a subscription service for the games. how did you pull that off? am i going to be able to watch any nfl game i want on this service?

>> the nfl has been a great partner with us for a very long time. what i would say about the content partners, we had many dynamic partners who see the vision where we are going. this is unchartered ground for us. we had these fabulous partners come along and nfl is one of those. >> and a big game tonight. >> yes. >> marni, thank you. >> it's going for the millennials. >> thank you for having me. >> this could get us baby boomers to let go of rabbit ears finally. >> we are not so different. >> you and i are not that different, but apparently they think other millennials are. >> using these terms are nice way to describe shifts happening across our society. >> we're people, too, you know. >> the dow is up only 41 points. the s&p hanging on to about a

six-point gain. nasdaq up 26. >> a veteran traders tells us what he's watching as we roll through that crucial final half hour of this trading session. >> still to come, box ceo aaron levie will speak with us. i'm watson. and today hundreds of companies are putting me to work. i'm teaching watson to help your vet speak dog. you're a dog, right? i'm teaching watson to help you make healthy choices. i'm teaching watson to help design a vacation around your personality.

don't judge. i'm teaching watson to answer endless questions. how big is infinity? where do babies come from? why can't i have chocolate for breakfast? i'm watson and i'm ready to work with you. which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight! and enjoy a good cliffhanger while you hang from a... why am i yelling? the revolution will not only be televised. the revolution will be mobilized. introducing the all in one plan. only from directv and at&t.

we continue to lose altitude here. selling is picking up pace. dow up just 36 points. when kelly and i came on the air we were up about 100 and we lost much of that here. dow is up 36, now at 16,290. s&p up just five points. the nasdaq up 26. >> let's ask kenny, was it the imbalances? >> i think it makes sense. the imbalances today appear to be, if you do the math quick you come up with 700 million at the moment for el. that would kind of line people up and you saw the market pull back. we were trading up 1965 and backed off to the 1950 level again. that made sense. there is still time to go.

i don't think there is any reason to panic. >> volume has been lighter. are you seeing that? >> volume has been light surprising considering it's after labor day. these imbalances are a psychological thing. people are nervous about it. it speaks to the anxiety level out there i think you'll see the market back off the way we saw it happen. >> could be more until that fed meeting. >> thank you. >> thanks. >> we are also watching cloud storage company box. that stock has been under pressure today. what got the market's attention was the company reporting a 43% rise in revenue for the quarter.

it raised its growth forecast for the year. joining us once again we welcome back box ceo aaron levie to break down these numbers. welcome back. >> thank you. >> how could you characterize this quarter? you've only been public a year. >> this is our third quarter as a public company. was certainly a breakout quarter for us from a growth standpoint. we reached a $73.5 million in the quarter and raised our guidance next quarter and fiscal year '16. then reached 50,000 customers that now pay for and use the box product as their standard solution for content management and collaboration. great quarter for the business. >> it seems like investors see this as a double-edged sword. love the fact you are growing top line but think at the same time that means your losses are

growing, as well. what is the trajectory for you guys to turn a profit here? >> we will be achieving positive free cash flow the final quarter of fiscal '17 which is january 31st of 2017. about six quarters away. we are showing a clear trajectory of improvement on things like sales and marketing as revenue. our operating income measurement over time we'll see continue to improve. as we continue to grow, the business will show a lot more of those efficiency metrics. right now, we are focused on capturing market share. we are the leader in enterprise content management in the cloud. we continue to gain market share. >> we wanted to ask you about companies you're developing relationships with in a big way. one is apple. the other is ibm.

ibm will be selling your product in some cases. then you are able to use their data bases. is that a blueprint for future relationships or unusual circumstance here? >> ibm will be uniquely significant for us how we are investing in the partnership. together we'll bring joint solutions for the market. we are a partner-centric organization. we work with microsoft, apple, ibm. the investment they are making in that partnership is substantial and unique for this industry. >> why not just have them buy you? >> i definitely love ginny and think she is doing a great job steering ibm into the future. at box we are focused on staying

independent. we think this is the best way to capture the opportunity we see ahead. we see tens of billions of dollar market around content management. we want to stay independent. >> quoting a tweet of yours last week, for all future inquiries about the state of the tech industry and/or the world, e-mail tim cook, you said, a guy i see is also going to be speaking at your box works conference. yesterday showed us a little bit of the future. what is your interpretation of what we are seeing from apple here? >> apple had an incredibly comprehensive set of announcements yesterday. you saw everything from their most personal consumer devices like the apple watch to their more enterprise-oriented initiatives like ipad pro. now into the home with tv. apple is on fire in terms of the amount of innovation they are driving. that told a very broad story around what they are doing. at box works, we are excited to

have tim cook talking about what apple is doing in the enterprise. and how we are working together. >> what role will you play in their effort to make this ipad pro very business-friendly in the enterprise area? >> the thing the ipad and iphone have both done, it changed the landscape of enterprise i.t. used to be enterprise is focused on the personal computers that were inside a corporation. then all of a sudden with the iphone and ipad, those devices came out and dramatically changed the level of mobility, types of collaboration and huge cases businesses could have around using much more personal technology. box stores content that can be accessed from all those different devices. we have a complimentary relationship with apple. the more growth they see for mobile devices, the more we see for customers like general electric, toyota or eli lilly

needing a secure place to manage their content. >> we'll leave it there. aaron, thanks to you. >> thanks. >> aaron levie, ceo of box. 17 minutes lift in the trading session here. dow holding on to a gain of sorts. up 30 points right now. >> pay service square inching closer to an ipo. the impact that could have on twitter ceo surge next. to folks out there whose diabetic nerve pain...

shoots and burns its way into your day, i hear you. to everyone with this pain that makes ordinary tasks extraordinarily painful, i hear you. make sure your doctor hears you too! i hear you because i was there when my dad suffered with diabetic nerve pain. if you have diabetes and burning, shooting pain in your feet or hands, don't suffer in silence!

step on up and ask your doctor about diabetic nerve pain. tell 'em cedric sent you. hi mi'm raph. tom. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here.

the word on wall street is square could unveil its ipo by the fourth quarter. the mobile payment company shares a ceo, jack dorsey, with twitter. >> more on how that offering to impact twitter, let's check in with julia boorstin. >> that's right. sources tell me square is working towards an ipo, which depending on market conditions, could come in the fourth quarter. jack dorsey twitter's interim ceo is committed remaining ceo of square. nothing has changed since he issued a statement in june saying, quote, i am square ceo and that won't change." so unless twitter's board changes its tune, he won't get the permanent ceo role there. in june, twitter's board issued a statement saying the committee

will only consider candidates who are in a position to make a full-time commitment to twitter. with twitter shares suffering over the past several months, high-profile investors have come out in support of dorsey saying he could do both roles. the fact that twitter's board hasn't publically reversed its stance shines a spotlight on adam bain. of coarse even if twitter's board says they were okay with dorsey running both companies, investors at square might not be too happy with that. we'll have to see. square has no comment. back to you. >> thank you very much, julia boorstin with the latest. surprising we haven't heard yet from twitter who is going to be ceo permanently. >> it's taken a long time. 12 minutes left. art cashin walked by. $800 million to sell. >> that is in part what has taken some of the wind out of

the sail with the market with the dow up 41 points. >> we'll take you to the close next. later, jessica simpson lit up the new york stock exchange ringing that opening bell, making the rounds. find out what she says is her biggest money mistake coming up. equals great rates. it's a fact. kind of like shopping hungry equals overshopping.

at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.

dow up 49 points. that doesn't tell the story. dow has been up triple digits couple times today. every time we get up there, it comes back down. >> down 19,000, you believe that by the end of this year? >> it will be a stretch. third quarter earnings will be strong. >> s&p 2200. >> the thesis is i think all the fixation on the fed interest rate hike is kind of nonsense. you guys did a great piece on "squawk box." he nailed it. even the idea of 1% interest rates is so far from normalization we shouldn't talk about this. it's going to come down to democratic economic growth.

strong u.s. corporate earnings growth. all the trouble in the second quarter is behind us. i think the fourth quarter will be gangbusters. to see a 10% fourth quarter is not all that crazy. >> i read a report, i forget who penned it. their assessment was to underweight the u.s. market because two things. one, a maturing business cycle. number two, let's face it, the fed is going to start raising rates at some point. neither of those is very good for the u.s. equity market at this time. >> i would argue the second point is negated. let's say the fed raises next week quarter points. let's say they raise again because things are going wonderful in a u.s. economy in december. you're still only at 50 basis points. in economic terms that is ultralow interest rate. i don't think that slows us down. it gets us psychologically off that zero mark which is positive.

>> what about the business cycle? david tepper said they would be hard pressed to meet earnings goals next year. >> 2016 will be much more challenging. what you've seen over the last year, because the market has been sideways until last october has been a consolidation of sorts. having a spring board where maybe we overshoot again like we did at 2125 earlier in the year is probably very possible. i'm optimistic on corporate earnings. a lot of the head winds passed. you are seeing stronger labor markets and productivity. to the point of other people, the china fears are overblown at this point. >> we'll see if that's the case. thank you. >> good to see you. we'll be back with the closing countdown see how we do as we go out. market up 50 points right now. >> after the bell, from successful businessman to presidential candidate, we are not talking about donald trump.

it's john mcafee jumping into the race. he'll join us exclusively. keep it right here. you are watching cnbc, first in business worldwide.

so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep it all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. add new business services with at&t and get up to $500 in total savings. we have 2 1/2 minutes left before the close. mary thompson with me. we have this correlation between

equities and oil. this is a chart today of the dow industrial average in white, if you've got a color television. who doesn't have a color television any more? >> no one, i would say. >> crude oil in the yellow there. >> it did follow until the close. equities start to fall here while oil held on to that gain. >> signs of production pulled back. inventories were stronger than expected. the build was higher than expected. that is typically bearish. we saw that and weakness in the dollar helped to support oil and the rest of the commodity sector today. >> some of the better performing sectors in this market, health care was the leader there. >> technology. >> technology took it over. health care, energy interestingly -- that is a neglected group there. >> it is.

health care, one of the best performing sector this year. tech being helped by the continued strength this week. also contributing to the health care is a rebound in biotech today. energy followed the lead of oil and financials, there was another upgrade to bank of america by wells fargo. >> it feels like there's a lot of indecision in this market. i thought art cashin made a good point today. it follows oil but after a while, the market was looking for something else to follow. >> right. that's why you continue to see these wide ranges we've seen in trading. today was narrower for the dow. this volatility we see at the end of the day, do you want to be long, take money off the table. concerns continue to be what will the fed do next week? the percentages say they won't move but there are enough people positioning themselves in case

they do decide to raise rates. and china continues to be a question. >> always there. thanks, mary. see you later. >> we are going out with a gain, not a big one, but a gain. up about 80 points. it's strengthening in with the close right now. much more to come your way including controversial businessman john mcafee running for president? that's on the second hour of "closing bell" with kelly evans. see you tomorrow. >> thank you, bill. welcome to "closing bell," i'm kelly evans. stocks going out with a gain. looked last hour things were getting dicey. dow up 77 points. that is good for nearly 0.5%. s&p back up to 1952. nasdaq, the strongest performer adding 39 points to just below 4800. joining me on today's panel, cnbc contributor carol roth, stephanie link and guy adami.

welcome to all of you. guy, let me just start with you. is it crude? is it the market on close imbalances? we were still lagging in the final hour. at least we didn't see a repeat of yesterday with that big drop. >> that's it. at least we managed to hold on to some gains after yesterday. on the week still up, i guess probably 20 handles or so on the s&p. that is somewhat encouraging. 1970 on the up side has proven to be resistance. we need to go back and retest the 1820 level we traded down on october 15th. despite the fact crude had a decent day in terms of bouncing, that ovx, oil volatility index, is up on the day, still north of 50 which says to me, the worst isn't over in terms of down side for the price of crude oil. i don't know what it means for the broader market. that is something worth watching. >> we also had hedge fund

billionaire david teper with a not so bullish tone. >> i like to see when some of those big stocks with big emerging market components, their pes come down. so me that. show me when hedge funds aren't with this increased volatility and out of this last two-year range, show me that. show me where mutual fund cash levels are higher before these last two years. show me that. show me those things and maybe i'll jump back in the water again. >> it pains him to say not so bullish. would you take the other side of this tepper trade? >> i said we are in this period of volatility. i don't think we are geg oing t get through that for a while. we have to get through the fed and daily global analyzing of china and emerging markets.

to david tepper's point, earnings are the big question market. this has been a stock picker's market all year long. we are going to learn more about margins, growth, visibility when we hear what the companies have to say. we are getting a little bit of a taste of that this week during conference season. this is a stock-picker's market. there are pockets that are not expensive yet there are that are expensive. you've got to pick your spots. >> what were your thoughts? >> listening to him was almost like listening to guy adami. we've been hearing from guy, folks like myself now from mr. tepper that we need to focus on valuations and pe multiples. i think that is the big take away here. valuations really on an overall market basis got way out in front of what us sustainable for the realistic growth rate. nobody is saying we are not going to have any growth. everybody said we are going to have sluggish growth. the pe multiples for the market

needs to reflect that. i was happy to hear david say that. i'm sure guy adami was happy to hear him say that. >> not only happy to hear that, happy nfl football season is back. carol's fired up. starts tonight. i was happy to hear those comments. you can't be a champion of david tepper when he says all bullish things and discount him when he says things aren't as rosie as the market might make them appear to be. to stephanie's point, we are seeing knee-jerk reaction by central banks on almost a daily basis. on unprecedented scales. almost like definition that can't be constructive for global markets. >> guy, who are you long going

into the football season? >> i'm always long the football giants. i say the football giants despite the fact the baseball giants haven't been here for years. my heart resides in the meadowlands with them. >> emotion. he is investing with emotion. that is never a winning trade, guy. >> stephanie, tell us where to put our money in this market. you mentioned there are specific areas that look attractive. >> i'm rooting for the jets to let you know. it's been very hard the last couple of years, many, many years, anyway. that's a different story. i look at financials. some of the big banks are trading close to one times tangible book value. even the payment processors while not cheap, they've got the growth. they've got the secular drivers there. i really like those two spaces. today i was encouraged to see money go back into health care. that group lagged. it's only up 3% on the year now. after being up almost double

digits mid year. i think there are pockets in health care like pharmaceuticals which give you very good yields and are trading at good reasonable valuations. those are two areas i would focus. >> let's flip over to dominic chu. he will look at stocks for us that are still on the decline. we heard about the strength. what about the weakness? >> here is the thing. we are generally up. most of the s&p 500 is higher because the broader market is higher since those august 25th closing lows during the turmoil. if you take a look at the s&p 500, we wanted a screen for companies with negative momentum. if you look at negative performance since august 25th, those 500 stocks become 70 stocks. 70 stocks have not gained traction since the august 25th low. if you look at among those stocks how many are still negative year-to-date medium term, it goes to 58 of them. there is a select group of those stocks. take a look at some names that

popped out. they vary across all different industries. take a look at abbvie. down 2% since the august 25th lows. still down 9% year-to-date. wynn resorts and weakness in china, it's down 8% since those lows on the august 25th. still down 53% year-to-date. dollar tree, analyst reports didn't help the case. down 5% year-to-date. joy global, industrial, down 20% and 60% year-to-date. here is the interesting part. of the 58 stocks that are still negative year-to-date and have all those characteristics, 23 are in one specific sector and it's not energy.

perhaps they are not as attractive as interest rate yields creep higher. the relative attraction in utility stocks becomes less attractive. utilities lower since all the turmoil we've seen. that is a snapshot of some of the way the market looks right now. of course again, like stephanie said, it's a market of stocks and stock picking is work. these are places investors are looking as possibly maybe either a falling knife or bounce. >> guy, any of them look appealing to you? >> not those names necessarily. stephanie mentioned biotech and health care. look what gilead did today. yesterday mike cowan and john and pete nejarian talked about gilead and bristol-meyers. i think the space, the space is in play. that is what's interesting to me

to echo was stephanie was saying before. >> that is a challenge. winners and losers, it's hard to figure out who is going to be acquiring and who will be behind. you need to have a broad strategy and well-defended strategy. >> i think there are winners and losers as we talked about stock picking. if you look at dollar tree, they had problems. that was a poor acquisition they made with family dollar. >> very poor? >> yeah. it hasn't worked. so far. they overpaid. they didn't realize how bad in shape family dollar was in. both dollar general and dollar tree have come down. i would look at dollar general as perhaps getting out of this and being one of the winners as dollar tree continues to flounder. >> what is happening now?

is the pendulum swinging back to a walmart here? >> there is competition, no doubt about it. you had three players. i think dollar tree was very well run and still is and dollar general is well run. family dollar had issues. that got bought. dollar tree has to figure out how to extract growth and revive that brand. it's a company-specific area. i think you want to look at who is going to win. if dollar general comes down with the rest of the group, that might be one you want to take a look at. >> that is not an unusual story in mergers and acquisitions, unfortunately. it's something that happens more often than we would like to see. as we hear m&a as a potential catalyst for the market going forward, you have to think about who is going to end up being able to execute and make that merger work and have those culture come together and be a winner and who will suffer through. >> we are seeing a lot of deal

making. this is a sluggish growth environment. if you are seeing consolidation of weaker players, should you stay away from them? >> in a lot of cases, people are using their own stock for acquisition. they think their stock is expensive. use your stock as currency. if they think their stocks are expensive, maybe the rest of us start to look. i don't know what it necessarily means when mergers from equals, those things happen or somebody gobbles up a weakling. i never think it works. you had an interesting interview with the box ceo. you asked him why doesn't ibm grab you guys? he mentioned they've done a great job at ibm. what planet has she done a great job? i'm not trying to crush her, but it's disingenuous. >> warren buffett is buying it hand over fist. >> that is called chasing bad

money with good money. he can do it in perpetuity. ibm no longer has the clarity they used to have. it deserves an eight or nine multiple. throw a $15 earnings you get a $140 stock and that is what's transpired. >> i think the time horizon for warren buffett might be different than guy adami or stephanie link. they haven't executed as well. they've taken a long time in trying to transition to the growth businesses to cloud, data, analytics. if you go through their last quarter, they did pretty good, actually. they had growth. problem is they have a huge legacy business that is in secular decline that they were too late to address. we can talk about hewlett-packard, emc, there's a lot of these old line technology companies that were slow to adapt to this new growth

technology. that is what's going on. >> not a lot of them have been able to acquire their way out of it it's always come from an organic perspective. >> let's get to an earnings alert on restoration hardware. what can you tell us? >> high end side. restoration hardware on the high end furniture and fixture side of the equation. down about a percent. 114,000 shares trans yakted so far after the company came out with earnings per share that slightly beat 85 cents a share versus analyst estimates for 84 cents. revenues coming in better. $507 million for the past quarter. $503 was the average analyst estimate. they did report comparable store sales up 16%. that beats the average analyst estimate by 2%. their current quarter profits and current quarter revenue guidance was slightly below what analysts were looking for. shares down by a little over a percent on 124,000 shares of volume. the stock has been down about 5%

year-to-date entering this number and up about 11% over the past 12 months. >> we'll have more on this theme in a little bit. thank you. shares under a little bit of pressure. >> thank you, guy. >> stick around and catch guy adami with more on "fast money" at 5:00. talking to a hedge fund manager who has three reasons oil is bottoming. why the rental market could give a boost to nation home builders. >> john mcafee is running for president. the tech legend may be more outspoken than the donald. he is here first coming up.

my name is rene guerrero. i'm a senior field technician for pg&e here in san jose. pg&e is using new technology to improve our system, replacing pipelines throughout the city of san jose, to provide safe and reliable services. raising a family here in the city of san jose has been a wonderful experience. my oldest son now works for pg&e. when i do get a chance, an opportunity to work with him, it's always a pleasure. i love my job and i care about the work i do. i know how hard our crews work for our customers. i want them to know that they do have a safe and reliable system. together, we're building a better california.

welcome back. we have a news alert on the iran nuclear deal. >> as you probably know, there has been a republican-backed measure that is designed to derail that iran nuclear agreement. at this point, it has basically, in the u.s. senate voting continues. the measure to derail it has

been blocked in the senate. as you know, the president has gotten a number of key law makers on his side. right now, that is blocked. voting will continue. we'll keep you posted on it. does not look successful at this point anyway. back to you. see you in a minute for a news update. >> indeed. thank you. >> home builders may be the next big winners from the hot housing rental market. diana olick is here post nine. welcome. >> thank you. i've been getting to hear about this maybe two years ago. when i tried to do the story, everyone said it will never happen. housing was recovering, rental demand would go down. fast forward to today and suddenly those institutional investors who bought foreclosures to rent are buying newly-built homes direct from the builders. starwood waypoint bought over 16,000 foreclosed properties and is now buying new. they say today's renters are by choice, not by necessity. they will pay a premium for new and their demand is only

growing. >> in some instances, we are going in and buying the first 10% of a development. in some instances we are buying the last 10% of a development. what they are trying to do is build more homes and we are enabling them to increase their volume and their sales velocity. >> lennar which hedged the housing crash putting up rental apartments just signed their first -- or opened their first single-family rental community in sparks, nevada. i spoke to lennar ceo this week. he's a big believer in the continued rental demand. he didn't say he is selling directly to investors, but said lennar is already planning more rental communities. this could get much-needed builder volume back. i find this fascinating. >> oh, yeah. >> they said it would not happen and here it is happening. they are filling these homes. >> what do you make of it? >> my question is how much of this is being driven by institutional investors and how much is being driven by perhaps

the lay person on main street who has extra money who says i don't know what to do with it? maybe i'll buy another house and rent it out. >> i'm starting to hear that. that is always scary to me. >> you wouldn't believe how many people said should i buy a house when they heard about this story. a lot of folks are doing the mom and pop. that was the original single family investor play. now we see the institutional investors getting in on the game, that is where that volume for the builders comes in. builders didn't want their homes to be rentals. they didn't want renters in their community. now if they are playing with the institutional guys, that says something. >> the millennials that are renters now, will this completely continue longer than we thought? >> already is. >> we thought they'll grow up and start to buy. >> they will. i am not a believer millennials will never buy a home. their time horizon is different.

they get married later, have kids later. we see the baby boomers down sizing into rental homes. you have this demand on both ends of the spectrum and smaller time frame for homeownership. >> when we read your note about lennar getting involved, they are a class act operator. they are visionaries. >> they made money off rental apartments. >> right. if they are getting involved, they see the secular trends. >> diana, thank you. >> out to dominic chu for a market flash on starbucks. >> starbucks headline crossing out of the conference in new york city. scott ma told investors that starbucks isn't seeing any material impact on the number of transactions or profits or sales coming out of china, despite all those concerns we have about the market turmoil going on over there. he stated that starbucks plans

to roll out its mobile pay type systems, pay app nationwide by the end of the month. starbucks presenting at the goldman sachs global retailing conference in new york. interesting they mentioned china. near the top of their presentation during this particular conference. back to you. >> thank you. those shares having a nice session today. mcdonald's is about to start all-day breakfast. any thoughts on starbucks? >> if anyone should get a premium multiple because they were vision ris at tarvisionari. >> i did buy chicken mcnuggets with an apple watch. >> to stephanie's point, starbucks have access to big data. because they were at the

forefront of mobile app, you now pay with your rewards cards. they have so much data on the consumer, i don't think they've started to tap in. this is a company that seems not to be recession-proof but worthive its multiples. >> justice department planning to step up prosecutions of wall street executives. details next. >> jessica simpson at the new york stock exchange. what she says has been her biggest money mistake. stay tuned. this just in: 50 million customers' data was not compromised this morning in a security breach that didn't happen. wall street. not rattled. at all. no. not at all. not at all. i mean, look at the day. sir. sir. what went right? what went right? everything. thank you. with threat intelligence, behavioral analytics, and 6000 experts, ibm security will help keep you out of the news. my dad's company wasn't hacked today. cool.

nobody's hurt,but there will you totalstill be pain. new car. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgiveness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $509. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance.

justice department taking direct aim at wall street executives. eamon javers joins us from washington with the details. >> deputy attorney general laid down a marker today in a speech in new york saying corporations are no longer going to be allowed to simply write a check to settle civil charges when they don't also in many cases face criminal penalties for those individuals who actually committed the crime. yates said this boils down to a matter of fairness. take a listen. >> americans should never believe, even incorrectly, that one's criminal activity will go unopinionished simply because it was committed on behalf of a corporation. >> yates said in the past the department of justice had trouble making these kinds of cases, partly because of the difficulty of getting corporate insiders to cooperate and wear a

wire, and partly because the department of justice hasn't structured these investigations from the get-go to be going after individual executives now she says that will change. the department will change its internal procedures and change the rules for when companies get credit for cooperating with the department of justice in order to get that credit now, she said, the companies are going to have to name the names of the individuals who are involved. something they had been reluctant to do in the past. that can draw out the time frame for investigations, meaning it's tricky to get to the individuals before the statute of limitations for the crime passed. >> thank you, eamon javers from washington. >> andrew, i'm sure you'll say this is too little, too late? >> exactly. the timing is incredible. if this isn't the ultimate example of hutspa, i don't know

what is. after the statute of limitations passed, we are going to start to pursue these guys? it's too late. >> this is political theater at its finest. if we want to stop fleecing of americans and want people to have accountability, maybe the doj should focus on washington and k street instead of wall street. this sounds like political theater, a way to get more money, to make their political point. i think they are looking in the wrong direction. they should focus on government accountability. >> that is a big problem. when you impose these massive multibillion dollar fines, that's fine. that is eventually paid by shareholders. until you start indicting the senior executives for serious conduct. remember post 2008 we had the libor manipulation, money laundering by banks for terrorists and drug cartels. if this doesn't get an

indictment, i don't know what is. there is justice for guys on the street versus wall street executives. until those sorts of indictments go through, there is going to be a big problem our simulator reply isn't fair. that is unfortunate. >> what do you think the catalyst was for this to be announced? the timing is so strange. >> i think part has to do with eric holder leaving and going back to a defense firm that defends brokerage firms and banks. i think it's a classic example of regulation by headline. they want a front page story in "the new york times" and got it. in reality, this doesn't do anything. >> carol? >> exactly. it doesn't do anything. it's political theater. it's more government as usual. frankly, i think they have a lot more to do -- >> what about in their own ranks than worrying about what is going on on wall street? >> is there not something to be said for china? a lot is closing the barn door

after the horse left. is it to set up a better go after the guys in the next event? >> possibly. i guess that is a good development. if you haven't gone after these guys with some of the activity engaged in in the last five or seven years, i don't know what it's going to take. that is unfortunate. right now it's window dressing. that is unfortunate. >> do they have the manpower to do it? >> i think they have the manpower. i just don't think they have a stomach. a big problem is the revolving door between regulators and department of justice going back to the same law firms and banks these guys are supposed to prosecute. it's just really incestuous and nasty. >> andrew, thank you. >> let's get out to a cnbc news update. >> here is what's happening. president obama meeting with veterans and mothers who lost children during military

operations. he is discussing the iran nuclear deal and thanked them for their service and said the deal is a good alternative to military confrontation. >> sergey lavrov says his company will fly military and humanitarian aid to syria. israel's defense minister saying russian troops are in the country. mr. lavrov says the western approach is a failure. campbell's soup and keurig green mountain are rolling out pods that will allow consumers to make a cup of soup in their keurig machines. they recommend running a hot water brew cycle without a pod before and after making soup. >> the "tonight show with jimmy fallon" is back on top. during stephen colbert's debut, he crushed fallon and abc's jimmy kimmel, but last night fallon was back to being number one beating his rivals in adults aged 18 to 49 and total viewers.

that is the news update. back to you. >> thank you for now, sue herera. uber dealt another loss over whether its drivers are employees or independent contractors. first, he was once on the run from the law in belize. now john mcafee is running for president of our country. he joins us next to lay out his vision for america. when you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. at&t has the tools and the network you need, to make working as one easier than ever. virtually anywhere.

leaving you free to focus on what matters most.

the dow staying in positive territory. health care led the way today. nasdaq adding about 39. it was up 0.9%. crude did well. up 3.5%. >> let's take a look at what's happening with shares of zumiez down 18%. the speciality apparel retailer came in with earnings 11% per share, analysts looking for 12 cents. we do have commentary about the future. they see their current quarter

comparable store sales down 7% to 9%. analysts were looking for a down 1% mark. they did report their past quarter store sales were down 4.5%. they provided weak q-3 sales guidance. outlook falling short of analyst expectations. shares down 18% on a stock that is already down 44% year-to-date. finisar makes a lot of computer networking cables and equipment drich by optical technology. those shares are down by about 9% on 148,000 shares worth of volume. we are also talking about an interesting report overall. missing 23 cents a share. analysts looking for 26. $314 million worth of revenue. the ceo it company is stepping down. they gave weak second quarter

revenue and profit guidance. those shares reacting negatively to all that news. back to you. >> a couple of big droppers there. antivirus software pioneer john mcafee throwing his hat into the 2016 presidential ring. he plans to part as part of the new cyber party. jane wells joins us with the mcafee founder john mcafee himself. >> hi. john thanks for joining us. let me clarify. have you filed yet and have you started to raise money? >> we have both filed and started to raise money, yes, ma'am. we filed on tuesday. >> how much have you raised so far? >> i have no clue. i'll have to ask my campaign manager. i've been working 22 hours a day talking to the press and trying to understand the chaos around me. >> we are, too. why would anyone vote for john mcafee for president? >> well, i have a very huge fan

base. even a funny video making fun of myself a year ago got 6 million viewers. i don't understand it myself. the 18 to 35 year age group. perhaps they are rebellious and i've always been rebellious. i'm an entrepreneur. i run a multibillion dollar company. i am quick witted. >> you say proeivacy is approaching extinction. what do you plan to do about that? >> first thing is raise awareness among the american public. edward snowden notified us the

nsa has been spying on the american public for years using tax dollars i thought were to spy on our potential enemies. instead they are looking for enemies among the american people. that is a sign of paranoia and sickness. >> tech crunch says these are noble goals but you're the wrong spokesman because of these crazy allegations, unproven allegations of the murder in belize, the dui arrest in tennessee. some would say you have to be high to think you could win. is this about winning? >> of course it's about wing. i wouldn't be doing this otherwise. i am an entrepreneur. >> really? >> i wouldn't start a business if i did not think the business would succeed, i wouldn't start a business. if i didn't think this campaign would succeed, i would not enter it. keep in mind, there were no murder allegations. at no point was i charged with murder nor suspected of such. i was wanted with questioning in a third world country in central

america. you understand what that means. they string you up by a heels and pound it until your brain turns to mush. that's not the type of questioning i was interested in. i offered to answer any questions belize wanted in any neutral country. they declined. at no point was i charged. as to the dui -- go ahead. >> no. you go ahead. >> many that hasn't gone to trial. i was taking a legal prescription for xanax. i obtained that day. i had never taken it before it affected me negatively. no question about it. in the state of tennessee, if i have taken the legal dosage and had no alcohol, which i had none. i have a blood test, my lawyer assures me the case will be dismissed. even if it is not, does that invalidate my vision or my experience of my capabilities? i believe we have all made some

mistakes. >> who among the other candidates do you like? trump, clinton? >> i think they are all very brilliant. i think hillary clinton is very smart and a very gracious woman for having to put up with bill all those years. donald trump is smart and obviously a highly refined and confident entrepreneur. the only question i would ask him is, donald, what's with the hair? as to the rest, i don't pay much attention. i'm trying to reach the american public and find out what the heart and soul of this country is so if i become president i can lead it. as to my fellow candidates, i think they are all nice people. >> john mcafee, we've got to go. real quick. what is the campaign slogan or

bumper sticker, mcafee 2016 for? >> basically our website is mcafee16.com.our campaign slogan. we are based on the loss of privacy and free do. i truly believe our government is dysfunctional. somehow, a little bit sick in the head. >> john mcafee thank you for joining us. we'll follow this very closely. kelly, back to you. >> journalists will have their hands full. jane wells, thanks to you and john mcafee. >> independent contractor or employee? the question that landed uber back in a california court. the ride share lost the legal battle this time. could have a major impact on the company's business model. equals great rates. it's a fact. kind of like shopping hungry equals overshopping.

at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. uber losing another legal battle in california. kate rogers joins us with the details. >> that's right. another loss for uber in the ongoing fight over whether its drivers are employees or independent contractors. the california employment development department determined a former driver was entitled to unemployment benefits and deemed him an employee. the decision was first reported by reuters and applies to a single driver. the decision came out in august. it comes after last week's ruling if a much larger case against uber also out of california which drivers were

given class action status. uber says the class will likely be under 15,000 people. uber told cnbc in an e-mail message that, "this decision applies to one person. it does not have wider impact or set any formal binding precedent. many public bodies have found that individual driver partners are independent contractors, including unemployment and labor departments in indiana, georgia, pennsylvania, colorado, texas, illinois, new york and california." similar single driver employee rulings have been found in california and florida so far this year. those watching this issue say the news does bode well for the drivers in uber and lift. this could greatly impact this sharing economy as many of these start-ups rely on the independent contractor model. over to you. >> thank you for continuing to follow that. >> we have a market flash. >> puma biotechnology up 6.5% on

light volume. 6,500 shares after the company said they published a study in a peer review publication for one of their experimental breast cancer treatments that showed successful signs. puma biotechnology saying one of its treatments meant to address breast cancer showed positive signs in a study. they published those results in a peer review journal. shares up by 6.5%. only on about 6,600 shares worth of volume. a bigger move for this smaller cap biotech stock but on light volume. back to you. >> a great development. maybe someone there should run for president. she is known for hits like "with you" but built a million dollar retail empire. a billion dollars. jessica simpson next. you totalled your brand new car.

nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgiveness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $509. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light.

liberty mutual insurance.

she's a pop star turned power mogul. jessica simpson has taken her brand and turned it into a billion-dollar business. what is the key to her success? jessica sat down with me for that exclusive interview. >> i'm definitely a person that is all about taking a risk, and

everything to me is kind of a why not? i take an opportunity by the reigns. when we started, it was shoes and now it's so big and i'm counting my blessings. >> how do you know what people want today when it seems they are more interested in mobile phones. >> hopefully they are shopping on their phone. >> i think so. i shop on my phone. i just know how to embrace and understand a woman. i know what they want. i know what they want to look like. >> wearables is a category people are playing around with and what if i started, i know you might have active wear coming out. will that embed technology the way under armor and big brands are talking about?

is that attractive to you? >> with the zipper pockets and everything. >> so that's all still to be decided, though. >> in our first launch, we have stuff like that but we don't have the -- we don't have an apple watch yet. >> do you wear an apple watch? >> no. >> or a fit bit? >> i used to but now i know how many miles it takes to burn the kalecalorie calories. >> especially in the shoes. i wonder how you can trust in your partners. you do a lot of licensing agreements and had great people to work with and sequential involved with the brand and they can grow. >> they are making everything grow very large. >> but, you know, how do you know? how do you trust you're not going to get taken advantage of from top to bottom in business and the stakes are so high? >> i keep my business family. everybody that works on the collection, there's not really a

boss. we all are in it together, and we've created it together and i think that that's the biggest key to success is, you know, is loving everybody that you have around you and trusting in them and knowing that i definitely could never do this on my own, so it's team work all the way. >> what about with your finances? that's an area where loyalty and trust matter and as you're becoming more successful, who handles that? >> my business manager david leaven. we've been together for 16 years. he's one of the first people i met coming into new york city, and i trust him with everything. we've made really great investments, we haven't really had many mistakes. >> what kinds of investments? >> what kind? i don't -- can't really. >> do you talk about sort of? >> i trust him with all that. >> does he say look, your money is not stock market or invested? do you get specific? >> i always know where all of my

money is but there are people that i love that know. >> and you know where they sleep at night? >> yes, i know where they sleep at night. >> what are some of the biggest money mistakes you made personally or with the business that helped you grow? >> the biggest money mistakes? i don't know. for some reason i thought of my first marriage. >> that's actually a common answer believe it or not. are you guys cutting family? do you watch a lot of netflix? do you watch a lot of tv? >> we're definitely, i'm a potato when i can be. i'm always on netflix or apple tv. i have my shows. >> what are those shows? >> the weird thing is i actually don't watch comedy and i feel like i could star in a comedy but i'm more of -- i like the intense type of shows. >> such as. >> i'm a big "scandal" fan. i'm a "walking dead" fan.

i know everything about zombies. >> where do you think or hope to be in the next five or ten years? >> i'm ready for another billion. >> who isn't? my thanks to jessica simpson. so interesting, guys, i love what she said about fit bit, she wore one until she realized that's 10,000 steps amount to. >> wait until the new fit bit products come out. >> how about the biggest money mistake? >> i called that but what i loved about jessica simpson is she seems authentic and knows who that average american consumer is. her style is particular but resonates across the country to a wide variety of people, and i think she, i mean, she came across really well. >> as they tell us the first billion is the hardest, as she and pan expands, it seems like she has a lot of runway.

there is more on cnbc.com. investors are being bombarded. up next, we'll narrow down what's most important for your portfolio. we're watching cnbc first in business worldwide. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. technology empowers us it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours,

and that's time that we can invest in our athletes and changing the world.

which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight! and enjoy a good cliffhanger while you hang from a... why am i yelling? the revolution will not only be televised. the revolution will be mobilized. introducing the all in one plan. only from directv and at&t.

before we go, we want to pass on wedding wishes to christian. she's going to tie the knot next saturday departing today to put finishing touches on the plans. our very best. i hope she didn't have to do that graphic herself. christian and joey, congratulations. market volatility, a lot to keep your eye on. >> everybody is watching and waiting for the ped. if they go next week, that's a releaf. if they don't, that adds to more volatility. they are 17% of the s&p 500 waiting. i like them on any pull back. >> in terms of the fed they can go either way. i think that we're not getting past that uncertainty any time soon and certainly more news out of china. that seems to be adding fuel to

the fire here as making the fuel oil. >> we have tennis and football in the meantime. >> long time- >> great weekend. >> so fired up. i love it. thank you both. that does it for us on "closing bell." time now for "fast money". "fast money" starts now overlooking new york city's times square. our traders on the desk and tonight on "fast" quiet li something happened on the street that hasn't occurred since 2011, what it is and how you can protect yourself. a little watch, fit bit a turning point for one of the hottest ipos of the year but to the story of the day, oil finishing higher and crude rallying but energy stocks are not. so tonight, we ask is this a crude opportunity to get in? should we expect equities to catch up with what is