low. it's not just freeport mcmoran, glencore was down 26%. >> i wonder if they will step in and buy more freeport. >> melissa, have a great weekend. >> you, too. >> thanks for chg with a, everybody. "closing bell" begins right now. >> and welcome to the "closing bell" on this friday. i'm kelly evans here at the new york stock exchange. >> tgif. i'm bill given. a lot of news hitting stocks. the broader market under pressure, oil declining, pulling down energy stocks for the second day in a row and weak died ans from cisco sent shares of that dow component lower by more than 6% and there are many other stories as well. >> oh, my gosh. retail wreckage in full force today. take a look at nordstrom, also jcpenney. fossil, all getting hammered. we're talking down about nearly 17% and 35% respectively.

>> wow. >> this on the back of earnings numbers. more companies are set to report next week. we'll break down which ones are especially worth watching. >> meantime biotech a standing strong today and investors are getting ready for what could be one of the biggest events of the year for the biotech sector. we have the ceo of serepta to discuss his company's plans to treat a rare form of muscular dystrophy, our meg terrell doing that in a little bit here. >> general motors making cars in china reportedly to sell here in the u.s. we've got the latest on this developing story and all the potential implications coming up. but we begin with cisco. just getting clobbered. bertha coombs is covering that story in times square for us. >> it just cannot get up off of the mat today, cisco having a pretty horrible day overall after beating on both the top and bottom line yesterday, then you saw that guidance that was just weak and the real issue

here is currency. chuck robins on "squawk on the street" this morning saying enterprise business is pretty good, it was even pretty good in china but ex china and the rest of asia in europe it was weak. clearly you're seeing currency headwinds there and for the week cisco down about 8%, one of the worst performances, that's its worst week in a couple of years and it's dragging down a lot of its peers today, overall tech under pressure because of cisco, bit of a cisco skid, if you will. f 5 hitting a new low and for the week tech is the second worst performer behind energy down over 4%. back to you guys. >> all right. bertha, thank you. despite the earnings beats we got from some of the retailers this week macy's, nordstrom, fossil all cut their full year guidance and they are not looking for as good a holiday season as they were earlier as well. they cut that guidance, too. >> as we get into crunch time. next week will be another big week for the retail sector.

urb urban outfitters, home depot and walmart among those big names. let's bring in eric beader from wonder lick at the new york stock exchange. eric, this is a slightly different kind of group reporting next week, especially home depot and walmart but we still do have an urban outfitters. do you expect this theme to be taking root against brick and mortars that they're struggling to keep up with the consumer. >> a lot of these players ratcheted up inventory to be ready for fall and that was a mistake. we're going to have to see them come clean, get ready from holiday and clear aggressively. >> we had bad winters the last two years so they were suggesting that maybe they would have a third one here so they got ready for that. so tough being a retailer these days. what else is going on? what about this change in the nature. especially after the nordstrom number came out and disappointed

there, maybe we are seeing a shift in the consumer right now. what's going on? >> i think when you look at it the consumer really sees no reason to shop. they've become much more buy it now, need it now, get it now and really that's not driving business here. i think you also have leakage into online players. i think what's going on here is the consumer is segregating themselves, they want unique product, they will pay for unique product, but if it's not unique they don't frankly care. we're going to see it in some of the apparel players that announce results. >> we mentioned urban joe ut fitters that could be one. let's talk about home depot and walmart. these are huge cap names. in some ways walmart has been on a little bit of a turn around story or at least trying. home depot is maybe the place we're hearing people talk about as where kns consumers are going. >> when we look at walmart that's what happened is that investor expectations have reached the point they can come out with mediocre results and

it's okay. what we've seen in q 2 and q3 with low expectations doing well. i think it might be okay for the street. i think home depot is a different story. people will have higher expectations and we will have to see if the consumer still shopping for the home depot product. >> what about the amazons of the world, are they the beneficiaries? >> what we've seen is this switch from brick and mortar to online and that has not slowed up, if anything it has increased. people are going to have to work and really kind of get their product to go online because the customer feels much more comfortable and every year gets more and more comfortable buying it online. >> in the hudson bay told us you have to have an online presence to survive in this world even if you own saks and lord and taylor or especially if you do like he does. who else has an en line game strong enough to win in this environment? >> you want to have the strong brands that drive the products in.

oxford industries, very strong brands, a significant portion on line. urban outfitters 30 plus percent of their business online. it can drive upside, we're waiting to see for brick and mortar to make that claim. >> a couple great names there, eric. thank you. >> let's get to our "closing bell" exchange for friday. joining us peter anderson from congress asset management. steven grasso from stewart frankel and that's rick santelli of course in chicago. so, steve, this will be the first down week for the dow at least and i think for the s&p since going back to late september and we're really right now seeing lower commodity prices and now retail wreck that's causing a lot of this selling. is that what you're seeing? >> exactly. you know, it's a pretty symmetrical selloff here. when you look at where we were october 22ndish right about there we ran out to november 3rd to the level 2116 in the s&p cash and we ran right back down,

skidded right back down in just as many days basically. everyone is selling everything at this point indiscriminately, it's about growth or lack thereof, it's about the fed raising, commodity prices signifying that there isn't any growth anywhere, signifying this isn't any inflation anywhere. there's not a lot of places to hide because the breadth has been so bad in the overall market. >> healthcare that had been leading hit the skids as of late. you talked about leaving your valeant position, biotech has been on the skids until today. where if anywhere in healthcare do you like right now to look for a place either to hide or find growth? >> well, you know, i have really just been trying to be in bunker mode frankly with what i'm holding. if you ask five people where we are in the business cycle right now i think you're going to get actually ten different answers. it's a lot of uncertainty right now and especially on the retail side of things and in

healthcare, that probably is a good place to look once we figure this thing out about interest rates, but so far i'm on the sidelines with healthcare. i'm a select holder of a couple of retail names and they have gotten killed today as you mentioned earlier, but jcpenney really disappointed me in the market, but not necessarily in its earnings release. i thought the numbers were excelle excellent, i thought the outlook was pretty strong. sure they didn't increase their same store sales horizon, but still very, very strong, especially compared to the other peers that we've seen this week. this is a week of a lot of puzzled investors, i think. >> you are not alone in that. various traders on the floor were telling us this week they were looking at some of those retail stocks that got hit very hard as possible opportunities on a contrary basis to play that. let's look to rick santelli to explain this interest rate thing that's going on right now. we saw a rise in long yields this week as the market starts

to absorb the idea maybe you are going to get a rate increase next month. >> yeah, it seems that the market was buying in and fed fund futures are still somewhat in that mode, the dollar index still in that mode. we did see a turn around in treasuries, we're down on the week in yields and if you look at the current yields twos, threes, fives, sevens, tens and 30s all yields are going to close at the low yield of the week, they are all comped into the thursday before last from i's big job report. that makes sense. as far as what the fed may or may not do there's a lot of market indications that the markets think they are going to go and the one area of course we all agonize over is how nasty are stocks going to be and can that potentially change the fed's decision. well, i get e-mailed lots of info but one of my sources e-mailed me the easiest one of all and it's easy. 2130 is the s&p high, we're trading 2024 right around there in the cash, actually it's

higher now, 2026, we're down 5 rs from the s&p all time highs. when you put it in that context or look at where we were when we stopped qe 3 in 2012 at 1360 in the s&p all of a sudden the notion of 0 to being quarter to 50 doesn't look so shocking. then you look at what's going on in energy, what's going on in europe, what isn't going on in china and japan and you get the other side. i don't know how it will turn out but i can tell you one thing, next year is an election year, there is a whole lot more discussion by many of the presidential hopefuls about the fed, i think this is going to be a bigger and bigger story. americans know very little about their central bank and central banks around the globe have gotten much more powerful and their boundaries have expanded dramatically since 2008. >> you mentioned energy. steve, when we look at the dollar index sitting on 99 now, when we look at oil that's testing 41 and even $40 a barrel to the down side today, how do you invest in that environment

and where? >> it's almost impossible to he be vest in that environment. to your point i think you have to look at two names, nike under armour. when we started out this week nike was up 35% year to day, it's now up 27% or thereabouts, under armour was up 47% year to date it's given back 13% in just the last couple days. we know consumers are still buying sneakers, jeans and home depot there's no way you're buying 2-by-4,on line, an zon is not going to steal their nu thunder. >> it's been one of the worst performersen o the dow all week. >> sell first, right? if you have any profits, if you're lucky enough to have them as we said we've been talking about this year, it's been a small group of stocks that have led the charge higher in the s&p that have accounted for their gains while the s&p is now

belowground basically. so when you have a gain in the stock, you don't want to lose it before year-end, you always sell your winners first, it's human nature, you fall in love and think it's failure if you sell your losers admitting defeat, you sell the winners first and that's what we're seeing today. i would be buying that winner nike and under armour. >> sometimes it is ready, fire, aim. >> thank you, guys. >> thanks. >> have a good weekend. we have a news alert on staples and office deep poe right now. seema mody has details on that. >> we are looking at staples and office deep poe shares higher on this dow jones report they are seeking to apiece fdc's antitrust concerns with the intended merger. they are currently in talks to transfer $600 million worth of contracts to ascend ant, this transfer -- this would transfer corporate accounts owned by minority owned resellers, we are looking at office deep poe up better than 1.5%, staples also higher on this report.

kelly and bill. staples now -- staples struggling to stay positive. i was just going to say when was this deal announced? it feels like it was years and years ago. taking their time. by the way, the timeline has been stretched out. this came to the fore with some of the bank deals but even with a lot of other mergers that the government may or may not prove here. >> it's been going on so long back in the early days of this deal they were faxing each other, the technology they were using at this point. >> they probably still are, the regulators. 45 minutes to go, the dow is down 171 points, we talked about cisco weighing on the index especially today, it's down nearly 1%, but the nasdaq is doing even worst, down 1.2%. the vix back above 20, up nearly 2 points, the dollar index sitting at 99 and we're watching crude as well. >> the vix just on wednesday the vix was at 15, it's already jumped that amount to get to 20, the yellow flag territory. we will take a break, come back, talk about why public offerings

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the nasdaq is the hardest hit today. let's see where the strength and weaknesses are this week. these are the ten sectors inside the s&p 500 index. >> for the week. >> for the week. >> nice. >> and our friends the utilities. >> look at energy. i'm sorry. >> no. no. utilities are the one in green up two tenths of 1% look at energy. >> down 5.8%. by far the worst. the consumer there, consumer discretionary hit hard as well. >> from hot to not initial public offerings are facing a colding climate as the year draws to a close. let's get to bob pisani on the floor with a special report. >> the ipo market is fizzling as we come to a close in 2015. home depot became the latest company to pull its ipo citing,

two problems, first the stock market is not behaving very well and when that happens ipos have a lot tougher time going public. there is a bigger problem, investors are tired of ipos pricing at the high end of the range and then fizzling after going public. you know what's happened a lot this year, here is a few examples, etsy down 44% from it's ipo price, amplify down 42%, party city down 24% and blue buffalo down 8 prks. now, the average ipo was down 8% from its initial price through the end of august. everybody got tired of it. starting in september ipo investors started demanding lower prices and there have been 32 ipos since then. do you know what's happened? on average they have priced 18% below the mid price. look what's happened, the average return of those 32 ipos has been 8.7% above the ipo price. that's good. ipo investors are actually starting to make money again. so cutting the prices has

resulted in better aftermarket return. look at the deals that priced last night, this is in structure, a cloud based software company, they priced 4.4 million shares, $16, look what it's doing, the bottom end of the price 16 to 18, look, it's $17.28. cut prices, better trading. now, the ipo traders have a lot of hopes next week for the online dating service match group that has one great virtue, they're profitable, good news, also big hopes for the payment provider square, they have outstanding very good standing room only crowds at the road show i've heard, the concern is over valuation, the price has been discounted about 35% below the last round of private funding, that's what investors want to hear. price cuts, the question is is it enough? we don't know, we will soon find out. these are going to be the one ones left for the year. >> let's dig deeper into the ipo apartment.

>> let's do that with dennis berman. it's been a lukewarm year for ipos. >> not so great, bob. really put us very well, those prices are coming down, it has to back up into the private sector valuations. that's what we're seeing right now. >> some high profile examples, you wonder if it's just about market conditions. albertsons was going to list the way that all the grocery stores got whacked, neiman marcus, do you take neiman marcus public down. >> in order syndromes down 18% or so. >> is that a secular trend or one where you can site market conditions with a sense of this is all going to pass? >> sometimes i don't understand the market conditions idea. if you're investing for the long-term three to five years why do you care what happens on any given day. nonetheless, these are the markets. i don't see how you you could buy nordstrom ipo -- >> nieman. >> me nan, sorry. when we talk about ipos we almost always talk about tech and there the prices as we've

seen from the late sector valuations via fidelity those are coming down. >> it's not just those that are about to come out, those that have been out for a while fallen angels now as well. maybe the highest or lowest profile would be gopro. >> that was such an incredible stock in 2014, 2015. again, there is sort of a tech premium built into these shares. i personally felt that gopro was one of those stocks that was a very refined product, great product but ultimately things would outrun it and the market conditions have shown that that's the case. beyond that i want us to look at some of these private ipos or private companies and their ipo pockets and there was a great story in the journal about a company called zenafits. >> and what's so interesting on this as well, we're seeing rational zags in the market,

investors are demanding a lower price for the growth that they see or don't see. how does this all end, dennis? not in a dot-com way? what's different about the tech boone or bust? >> we want to live our lives through analogy but they are maybe not always the same. here is how i will answer your question. i think that these companies are worth something, they have great growth, they can scale tremendously, taking value from big incumbents, maybe they are not worth as much as some of the late stage investors say they are worth. is it worth what last valuation said, probably not right now. >> anything you're excited about? >> i asked you first. yes, sir. >> uber, that is going to be the question of 2016. is that going to go out and at what price. is it worth 60, 70s, $8 0 billi? just a number and a multiple of ten, that to me is going to be

the ipo story in 2010. duke it comes down in 2016? >> you are the expert. i'm watching either that one or airbnb as well. the valuations on that one just keep getting -- >> right. there again, you have truly global businesses, with some pretty impressive margins, huge cost but you see sort of the idea of it that it's a global business that scales really fast. >> we have to go but i'm thinking if it's the late stage venture capitalists that get hurt the most here, i don't think -- i don't see anybody crying for them, do you? >> no. if you were going to invest in a round n for a venture backed company perhaps it's time to scale back the excel spreadsheet. >> we asked our viewers what's the opposite of a unicorn and my favorite one was the unic corn. >> dennis berman of the "wall street journal." >> 37 minutes left in the trading session here. now down 200 points setting some lows for the session on the dow, the s&p down 23, the nasdaq down

1.4% right now. >> i should mention so as not to be too flip i looked up the merger news date for staples and office deep poe, it was february of this year so it was not two years as it sometimes can be. coming up the ceo of sarepta, our meg terrell has the exclusive interview you don't want to miss. 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. there are no medals won for earning a living. it's just what you do for family.

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down nearly 200 points today, we're keeping an eye on the vix, on the dollar, on crude oil moving lower and a host of indicators and sectors that are weighing on the market. >> it is setting up to be one of the biotech industries biggest events of the year,. >> it is one of the most closely watched races in the biotech city, two drugs are approaching fda approve for muscular dystrophy a disease that puts kids in their wheelchairs and is generally fatal by age 30. the other drug made by sarepta is behind it. >> it feels like everything we have all been waiting for, a diagnosis it was an incredibly hopeless feeling and the idea

that albeit a small population of kids with duchen could possibly be being treated in 2016 and we have been a part of it. >> her kids are taking sarepta's drug. joining us is sarepta's ceo dr. ed kay. so it is bio marin's drug that is approaching the fda first but tell us about the significance of this for us guys. >> well, i think it's obviously there are two products trying to go for the same indication. and i think it's helpful to be able to compare the two products head to head. so we will have in two months an ability to show what our drug is able to do, the safety profile, and so i think it's an opportunity for us. also having bio marin go first gives us an advantage of what some of the concerns might be from the advisory committee and allows us some time to prepare as we go ahead. we're looking forward in january

tentatively for an advisory committee. >> is there any concern that the fact that you guys are two months behind in the regulatory process. if that drug gets on the market does that mean some of the urgency has been taken out of it for sarepta? >> i think the community really needs two different compounds and i think based on what we know about drugs when you have different chemistries and different backgrounds chemistries really the efficacy and safety can be different. there is a need for patients to be able to choose which drug that their boy and patient can tolerate. i think that urgency still remains and certainly in this space there are currently no their piece that address this particular did iz. >> both of these drugs have the same mechanism of action, they do have different chemistry. how if your drug gets approved do you differentiate is it to doctors and patients from the competitor drug. >> that's a very good question. it really is based on a lot of

different things. one of course is the efficacy that we have now been able to show over three years with a number of different clinical endpoints that it has a very durable effect. the other thing is we've been able to demonstrate that the cause of the disease, which is a deficiency of the disbin protein in the brain is produced after treatment and the safety profile is different based on the backbone chemistry. that gives us an ability to compete very well in the marketplace. >> let's focus on dystrophy is a key pro feen to ducenne muscular dystrophy. how much is the fda focused on that protein and your ability to create it. >> well, it's a challenging protein to try to quantify and it accounts for .002% of all of the protein in the muscle.

so none of the methods that we use are perfect but we've been able to demonstrate by three different methods, chemistry, rcpcr that the protein is there. it's important to demonstrate to the fda that the drug is working as we think it is and the mechanism of action that we've been able to replace the protein that's missing. that i was go us some credibility and comfort to the fda to say that the drug should have a benefit based on that it's producing the dystropmen. >> it's a been a long road and tough road getting to the fda. do you get the sense they want to approve your drug? >> one of the things that have been very helpful in this whole ordeal is really the health of the patient population and the physicians. we have had so much help from the advocacy community, from physicians who have supplied data and supported our trials that i think it really is this

combination of three different groups working together to try to find a cure for really a terrible disease and the need to get it done quickly. >> dr. kaye thank you for joining us. we really appreciate it. >> thank you. >> guys, i should mention we did reach out to bio marin as well, they are in front of the fda sooner but because they are so close they couldn't come on and join us today. >> thanks for doing this, meg. let's send it over to as much. we have a market flash. >> shares of ericsson are moving higher on this report according to a swedish newspaper cisco is seeking to buy ericsson. keep in mind recently the two companies announced a new partnership to build nextgen produc produc products. now, on this report we are looking at shares of ericsson higher, they were higher by as much as 10%, now hire yer by around 4%. we should point out also moving on heavy volume. bill, back to you.

>> all right, seema, thank you very much. time for a cnbc news update with sue herrera. sue. >> hi, bill and kelly. here is what's happening at this hour. the supreme court is taking on its first abortion case in eight years in a dispute over state regulation of abortion clinics. it will hear arguments over a texas law that would leave about ten abortion clinics open across the state. a utah judge reversed his decision to take a baby girl away from her homosexual foster parents, this after his initial ruling caused widespread backlash, his ruling is temporary for now. nothing will continue to shroud parts of eastern china provinces. this morning is disrupted traffic with visibility as low as 200 meters. the heavy pollution began monday following the start of the heating supply season. last night's game between the new york jets and buffalo bills featured the teams wearing

green and red uniforms, but color-blind football fans, especially those that are red and green color-blind had trouble distinguishing between the two. the nfl said it didn't account for color blindness when it tested the jerseys on television. and that's the consumer just update this hour. red/green color mind is the most common. >> it was hard to watch and i'm not. a friend of mine who is a golf pro tweeted out that he was going crazy because he is red/green color-blind. i tweeted back to him and said that's tough for a golf pro to be red to green color-blind. >> my brother is red/green color-blind and he had a hard time when he was learning toer drive with the lights. >> did nobody think to ask why do we do it this way in the first place? did it never occur to nike that red green color mind -- didn't they know? >> it's occurred to them now. >> they heard it now. >> thank you, sue. >> see you next hour.

>> sue herrera. 25 minutes to go, dow down nearly 200 points today. this week the weakest sectors have been energy, consumer discretionary with retail misses wearing on this market. a leading trader tells us what he's watching into the close for today and the week. bob lutz tells us why he thinks it's a good idea for the auto giant to sell cars it makes it china here in the u.s.a.

speaking of the recent crop of ipos, fit bit falling to its lowest level since it began trading in june, it's down more than 13% today, the action camera maker pricing its secondary offering at $29 a share, not action cameras so much as wrist bands, fit bit reducing the size of the offering to 3 million shares from the 7 million it previously planned. again, bill, shares having some indigestion. >> yes, they are. we've got 22 minutes left in the trading session here with my friend gordon charlip. the dow fell through its 200 day moving average, retail has been weak, commodities have gone lower. what are you expecting going into next year?

>> a lot of joy in the mack ma nare ra household, happy birthday tommy and jays mack ma mare ra. we were trading today and looking at that support level. you got a sense there was a little bit of look out below. even though the retail numbers weren't all that bad the guidance was negative. >> this is the sector everybody had been look to go lately saying they believe in the consumer, they want to go with consumer staples certainly but consumer discretionary was even on their list and that's gotten killed this week. >> as the american consumer goes so goes the global economy. as you get into, you know, spending season, holiday season the fact is people are a little leery and what we have seen today -- room for caution. the question really becomes what is the risk profile going into the end of the year and what is the price of oil really doing and commodities all over. >> that's what you need to keep an eye on. >> it really does. they start taking this thing

down below 40 all of a sudden the paradigm shifts again and we have to recalibrate the feasibility matrix all over again and figure out exactly what that means. >> we will all try and do that. >> thanks, bill. happy friday the 13th. >> and to you, i think. general motors, this is big news today, reportedly planning to start seg made in china cars here in the u.s.a. it's the buick envision, there it is, and the "wall street journal" says it could be on america's roads by early next year. buick telling cnbc, quote, we do not comment on speculative reports, china is currently the only market we sell the envision and demand there has been very high. on the heels of talks with the auto unions and a final deal happening any day now would this be the great move for gm? let's bring in bob lutz. great to see you again. >> food to be here. >> what's interesting to me about this is by picking a specific model that will be made in china it will be quite clear to most american buyers, won't it, the providence of this car

and is that going to be enough to keep them from doing so? >> i think if the car is good it's going to be fine. and the product -- product quality in china of the vehicles made by the major manufacturers like gm, volkswagen, so forth is outstanding. to complement a certain niche in the buick product line it's the intelligence thing to do. another forget that gm north america since around 32, 33,000 vehicles a year to china. it's a two-way street and i think it will be fine. >> it makes sense in that fashion, but prwise gm is going to have to be able to sell this concept at the same time because every car that's made overseas in china is a job that's not done here in the united states. you have to agree that they are going to have to have a pr campaign to make sure that everybody accepts this car the way you think it should be

accepted, right? >> loom, if we were going to reject imports on the basis that the other country doesn't take our product we should not be buying japanese cars because they're totally hostile to foreign cars, with china it's a two-way street. china takes u.s. built cars, it looks buick enclave, cadillac sr xs and so forth. if the u.s. has -- if north america has jobs related to the export of north american vehicles to china, we also have to accept that the complement to product the line occasionally we will take something in from china. >> what about the timing on two fronts, bob? one is this agreement with unions, it is more expensive to make a car here for the u.s. manufacturers, they did just get a bail out from the u.s. government several years back, there's a certain sense perhaps among the public they might owe us something in return and with the election heating up next

year and the rhetoric we're getting from donald trump and others about the nature to which china is manipulating us and taking advantage of us, is now the right time to launch this? >> well, i think the right time is when the car is right, the cost is right, the market is right. gm saves investment by doing so, doesn't compromise any american jobs and it makes good business sense. i mean, you can't have world trade and say we're not going to import from china. if we were going to be hostile to chinese imports we would empty out kmart, walmart and most of the big -- most of the big box stores because, let's face it, china is the number one producer of consumer goods in the world today. so we have to be careful that we don't get knee jerks stupid on this. >> bob, thank you. >> thanks, bob. >> not the last we will hear from this story i assume. bob lutz former chair of gm. a dow that's slightly off the lows, down 181 points at the moment. >> up next, we will talk about

the tough radio week for crude oil prices, go live to the nymex, get the damage assessment. >> later getting fast food to your doorstep, it's sparking a lawsuit in california and our jane wells has the low down on in and out case against door dash. stay tuned. if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from,

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crude oil finishing off one of its worst weeks of the year and it's opinion a pretty bad year but keeps getting worse. >> jackie deangelis with the damage assessment. >> we closed today at $40.47 but intraday low was $40.22. so really flirting with that key psychological level of $40 a barrel. it's key to note here within recent history we have only gone under that level twice for significant periods of time one was during the financial crisis one was earlier this year in august. if it happens again and we stay there for some time, a few days, whatever it is, it will be significant. having said that this is a situation right now where crude is going down for real fundamental reasons, the iae out with its monthly report saying there is a world oil glut. it's not like we didn't know that, but 3 billion barrels in storage that is a new record. serious reason for concern right now along with the rising

dollar. back to youer >> we will keep an eye on it. obviously it is impacting the market, it has been all year. we've got 12 minutes to go with oil under pressure, energy under pressure all week the dow is down 180 points. >> art cashin just signaled flats, we have no bias either buy or sell going into the close for this this friday. when we come back it's friday of course and that could only mean one thing, the man himself, david darst here at the stock exchange, he will put this week's downturn into perspective and tell us what he's watching for the week ahead as well. stay tuned.

let's go back to seema mody for this market flash. >> on that cisco ericsson story we are looking at shares of ericsson coming off their highs as cisco denies any intention to buy ericsson. cisco telling cnbc we outright reject press reports we are looking to buy ericsson. earlier this week we announced a strategic partner but are not buying ericsson. shares of ericsson were high as much as 10% on this report, basically slightly lower now on the day. >> seema, thank you. again, this partnership you

read about it, it involves such an integration of these two companies that it's understandable if there was some speculation about a deal being done maybe this happened instead for either economic or regulatory reasons, but an interesting move by these two companies because the speculation has been around for some time. >> we have eight minutes left in the trading session here and of course since it's friday serendipitously that means we are visited by independent investment consultant david darst. welcome, sir. >> thank you so much. >> the group -- i was saying this to gordon charles a little while ago, the one group that a lot of money managers lately had been hanging their hat on, the consumer, you know, the consumer discretionary, the consumer staples they said they believed in the consumer at that point and that is precisely that group that disappointed this week. >> the retail sales have come in light. i think you've got the makings of a stronger consumer. the jobs market, to me the best part of that was the average

hourly earnings number up 2.5% year offer year. >> tell that to nordstrom, macy's, jcpenney. >> i wasn't preparing to say this, but 630 billion was the total retail sales in the united states holiday season last year. the national retail federation this morning's journal says it's spo he issed to be up 3.7% for the holidays, the average is 2%, last year it was 4.1%. listen to this, of the 630, 100 is now online. so more and more is shifting over there to online. to me you've got the ingredie s ingredients. look at the latest numbers for the consumer credit. all time highest, $28 billion of new consumer credit was taken out last month. you have a little bit better feeling about jobs, housing is okay right now. >> right. >> the things that hold the market back are the same old things. oil down, dollar up, and a little bit of worry about china's economic flow in week, although their retail sales on

singles day were up 130 p. rs for jd.com and 60% for alibaba. >> and we've got to go. those things that you just mentioned, dollar up, oil down and whatever the other department was -- >> china. >> china. exactly. how do you invest in this market, then? >> buy japan, buy europe. that's been like a mantra, buy japan, buy europe. i think you can nibble at some energy companies on the way down. if you're going to put 100 of something into energy, put 25 or 30 in with it down like this. the biggest european oil company yields 7.87% now and they've never put their did you have depend since 1950. you know which one that is, royal is the first word. okay? roich dutch. >> remember they always said home prices never went down until they did. >> you've got -- you could go into 30. so what? i just believe that this is -- this is -- remember we had three years with no correction.

this is a time part of the correction that once we get past people are going to be surprised at how the market lists from there. >> there it is, the selling continues right now. david, as always have a nice weekend. down 200 points right now. we are coming back with a closing countdown review, what did and did not move this week. after the bell a leading grub hub exec weighs in on a fast food lawsuit being waged out in california. you're watching cnbc, first in business worldwide. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year.

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all right. heading to the last two minutes of trade bob is here with me for the closing countdown weekly charts. here is the dow, okay until thursday, then we head south for the week, down 3.7%, down 200 points today. the high profile group that we've been talking about, the retail sector, the s&p retail etf here for the week down 8.5%, today down 3.9% alone. wti commodities were lower as well, wti crude we've talked about that with jackie deangelis that's down 8.4% this week. copper, mr..coulder the most economically sensitive of the metals for the week down 3.5%, down to 216. what went up this week, bob? that would be your friend the vix. >> volatility. >> volatility index is back in

that territory, up 41% just this week and that was just the last two or three days. >> that's when you want to start paying attention when it's over 20. this is the week they gave up on department stores. jcpenney had a decent report nobody cared. as we've been talking about the kids are a buying appraisal, they're going to century 21, they're going to h & m, they're going to -- >> someplace else. >> stop buying it at jcpenney or macy's. we've had a lot of damage done to big names this week. i don't know if we can put up for the week some of the big dow movers. when you look at cisco, apple, nike, caterpillar. this isn't dot-com stuff here, these are big stocks with big market capitalization behind them. it's been a generally ugly week. any earnings report generally had problems this week. let's hope next week is better. >> we have more reports coming out next week. in the meantime our first down

week in the last six weeks for the dow, we're down 203 points on the close. ringing the bell we have preferred apartment communities and at the nasdaq it's the pancreatic cancer action network. stay tuned, we wrap things up on the second hour of the "closing bell" with kelly evans and company. have a great weekend, kel. thank you, bill. welcome to the "closing bell," everybody. i'm kelly evans. a tough day again for wall street, the dow giving up 201 points at the close as we finish this week where energy, consumer discretionary have been the weakest performers today and the dow and cisco helped to take a bite out of that index, the s&p 500 down 22, the nasdaq finishing down living up 71 points. a lot of themes, a lot of names. oil, consumer, a lot of thieves retail names to get to here in just a bit. on the panel joining me a mike santoli and contributor and

private investor -- for some reason i want to say private inn investigator. adam new adam new newmark. >> we've round tripped the year. i mean, it's been the same story for most of the year, kelly. you get excited, i know you -- you know, dow down 200 points. >> hey. >> thank god it was down 200 it was if it was like 170. >> you do like round numbers. >> look, you know, oil retraced a lot of the gains that it made in the previous month or two, i still kind of like oil, i still like materials, i still think there will be a reflation trade for the global economy. it's just going to take a while. i think that's going -- it's going to be the story. it's going to be a grinder of a market. >> i like that point about the

reflation trade. after the jobs report you might have thought this was the time, the consumer names were getting bit up, then you come into this week and that all gets whacked. >> you have another slow moving growth scare. just for context yes we round tripped the year but what we also did was gave back almost half of the october rally. that actually can on a chart look like an orderly thing up 12% in a straight line in october then you go back 4, 5% and i think you have everybody raising the exact same thing you're saying is this all all over again where you do have these whole sectors essentially just getting battered all at once, like retail and media did back then in the context of a world that doesn't grow as fast. >> we have oil for the first time since august potentially going below $40 a barrel. david see berg, what do you do with all of this? >> look, today we saw a tremendous amount of short determining and that's what you're seeing, frig going into the weekend, repositioning going on. ultimately you follow the commodity. i think it's going to go lower.

i think there is a tremendous amount of supply, iran sanctions coming off it could be a lot more supply on the market. i look at it and say in general i think oil over the longer term will probably end up going lower although we are at the bottom range of this mini cycle we've seen, maybe with he stall out here for a little bit. >> it's interesting david brings that up, from my point of viewer if you are a longer term investor which i am and you take a two, three year time horizon i love the fact that this week i saw a report that said the most hated sector is the energy sector. >> iea saying -- >> and if you are a longer term investor i like to see that. if oil went down to 38, 35 again and the oil stocks went down i would be back in like i was over the summer. >> go ahead, da i have had. >> let me make the point on this. two to three year time horizon,

i don't have two or three years to sit back and hope that a sector recovers. it's going to take a very long time, very long time for some of these equities to actually move to much higher levels. i mean, supply is drastic and it's going to stay drastic for a long period of time. so the companies that are really, really levered up and have good assets in the u.s., i understand at some point in time maybe you can make money in the debt side there when these guys are ready to go belly up. at the end of the day i would not put money right now into some of these names in energy. i think it's going to be a long time before it works out. >> it's interesting, mike. this is what the market does, it takes people who are more long-term like evan and short term like david this is where you get price discovery because you have all of those elements. >> what the energy and crude market has done is grinds and chews people up along the way and gets people in long they have value and goes up and hurts the shorts and that's what you're seeing. slow moving process of basically

mutual exhaustion happening in crude. >> we talk a lot about the supply forecast for oil and the demand forecast but it's not happening in isolation. if you look at copper, aluminum, if you look at zinc zinc. there are plenty of other metals we are seeing difficult market conditions. >> again, there are two ways of looking at it. if you are a trader you look at bhp right now which is kind of nearing, you know, five, six, seven, eight year lows and you go, i'm not touching this thing. >> right. >> the thing is paying a high dividend, some question as to whether or not they're going to be able to -- they're going to have to cut the dividend. whereas if you were an investor and you go, look, commodities have been a one-way ticket down since 2008, really the end of 20 -- 2007. >> they went down, traded back up and came down again. you know, you would go, you know, at some point, i don't know when it is, but what is being priced in here? are you guessing basically pricing in a global recession for the next few years? if that's the case when do you buy? if you are a trader you will not touch this stuff until it goes

up 20, 30%. >> what we have to do is disengage the commodity prices from any real clear tell on what the economy is up to. if reminds me of semi-conductor stocks in the early 2000 bull markets, if semi has can't rally the committee must be horrible. you had this massive super cycle it's over. we are not reading through from here to the state of the global economy. >> this is an important part. it goes back to the fed and stock market. david, let me ask you on this general theme how do you read where interest rates are going? how do you read the general strength of the u.s. economy? >> well, i mean, look, i think in general people have -- i mean, rates are going to move higher, kelly, i'm in the camp that they're going to move them, you know, come december. i know that that sort of not necessarily consensus right now but here is the deal, it's going to be timeline effect now, how quickly do we move on rates? you look at the banks and say the banks retreated over the last couple days. they came back a lot because

they figured the fact -- investors have figured out the timeline is going to be much more gradual. it's going to become timeline focused versus a when and if they do. it's much more dangerous scenario to be in. >> evan. >> you know, like i said, i think the market is assuming and unless something drastic and horrible happens the fed will raise rates then it's a question of what is the profile for continuing to raise rates and the duration of that and again, as an investor i look at it and i go what is the consensus money doing? all the consensus money and the traders have been piling into the finance because that's the trade. the trade is, you know, oil is going down, get out of oil, you get into -- and that's -- from an investor perspective i always like -- i tend to like to be going against the herd. >> fossil -- >> no. no. >> nordstrom, macy's. >> no. there is a big difference. retail -- i joked at the end of last week i said there hasn't been a good earnings quarter for

retail in 15 years. i think there are certain sectors that you shouldn't -- because they are secular in nature, retail is dying, everything is dying except amazon. >> i agree with that. i think the big problem for the market is nobody has a bright idea of how to play the demise or at least the shrinkage of traditional retail except piling into amazon. what you see today amazon down more than 2% for no particular reason except that all the big leading growth stocks were getting hit today, they were being exchanged for cash. >> how else do you play this aside from piling into amazon? he said he liked urban outfitters, an oxford industries that through those channels should do quite well. then you look at what's happening with under armour and nike and saying wouldn't these be two categories for doing well no matter what this market s do

you agree it's a sell what you can in this environment? >> today in particular, yes, it was very broad based. i do think what i'm looking at is what was positive within there. you had traditional industrials outperforming today, the russell 2,000 out performing. at least short term panic for just a 5% down move from the highs. >> retail this quarter is very much akin to what happened with media names last quarter. on that note let's take a look at what's still happening with the turmoil in the media space. you have julia boorstin with the latest details. >> hulu approached time warner and the two met for preliminary talks according to a source close to the situation. bringing on time warner as an owner and a provider of content along with disney, fox and comcast, would make hulu a more formidable opponent to netflix especially now that hulu has an add free option. netflix would have less access to time warner content. hulu did not comment but it

could use an infusion of cash to invest in original and licensed programming. a report says getting access to time warner content earlier could help hulu, with about 10 million u.s. subscribers close the gap with netflix which has 43 million. so my source tells me talks are not joen going, time warner ceo jeff bewkes has identified new investments that could weigh on long termg earnings but drive long-term growth. hulu threatens its parent company's core about is. >> they are the cord cutter stream. if keeping you on cable and satellite is those new shows from the big broadcast networks. >> if i was an owner of current cable networks i would not be having hulu be my can bl eyeser. >> michael morris said in a report today charging $12 for

hulu's ad free version is too low, having time warner on board would give hulu valuable french. back over to you. >> so let me bring in david sea burring here. some things on what you have just heard, david. >> look, i think it's interesting. look, i'm a big netflix nan. we came out of the gate very positiver on the stock, john black ledge has an amazing call on the story. i think that this is interesting. right? look at the subscriber base, you're talking about 10 million u.s. versus netflix 40 some odd million. globally netflix is going to exit this year i think in 200 countries. you're looking at a user base that's much more substantial. to catch up with going to be a big feat but the most important thing you have to remember in this entire game for netflix's content they're going to be driving it by content, original content. when you talk to companies like lions gate films and they say netflix is ruling hollywood right now, every writer, every producer, everybody wants a deal

directly with netflix because they are the it brand in hollywood right now, they are going to collect the best original content period end of story and they are going to run the end game. >> those shares, evan, down almost 5% today. >> the parallel for me is netflix/amazon. you know the trend, the trend is going to be towards cord cutting, the question is how do you make money. you have netflix which i could argue is ridiculously overvalued like amazon but you also have these other, the old line media companies who will struggle that's why they're looking at hulu. >> viewing habits, my viewing habits, i'm a 50-year-old man and my viewing habits have changed, can you imagine my son, he is 15, we he doesn't -- we barely watch cable anymore, barely. >> i think david could be absolutely correct it is no contest on netflix versus hulu but hulu could still make life is miserable for netflix. they have vertical integration with the content providers giving them stuff and netflix

underprices its product. hulu troo id to sell -- the owners tried to sell the company three years ago, couldn't get a billion dollars, here they're inviting time warner at a 5 to $6 billion valuation. clearly this whole thing is moving prely fast. i don't see anybody demonstrating why netflix should be better at picking and developing original content than disney and everybody else. >> right. quick last word, david. >> well, you know, look, mike, i agree with you, i think there's room for both. there's room for both, hulu and netflix. netflix can own the original content, much more movie, if you will, directed and you've got hulu that can be much more mainstream from the standpoint of live streaming tv at some point having the on demand feature to it. i think there's room for both. i do. >> all right. fair enough. guys, thank you. david, appreciate your time this afternoon. that's david sea burring there's more coming up with him and "fast money" and the crew at 5:00 p.m. we have breaking news on fanduel now. >> i can tell you reuters is

reporting that fanduel says that it is starting the process of limiting access to users in new york. fanduel says it will stop allowing new deposits on the site from new york as of today, however, the company says the full slate of this weekend's contests across all sports will be run as scheduled and fanduel says users in new york will be able to withdraw their money. this of course follows new york state's toernl general saying that in his opinion fanduel is illegal, it is gambling in his state in his mind and fanduel although they said that they are going to fight that says that they are going to start the process of limiting access to users in new york and they will not allow new deposits, but new yorkers can withdraw their money from the site. so it's just another volley in this particular story, kelly, that has been picking up a lot of momentum this week. >> it has, sue, thank you so much. sue herrera with the latest there. mike, you better get your kids

in quick. >> obviously they weren't going to outright refi this order but they are going to fight this thing hard. if you look at their complaint it looks like there's -- >> you're looking -- now this is -- this is going out of the hands of the company, the places and with the politicians and lawyers for the next two or three years. >> we will have much more on those developments coming up just after this. first the ipo market fizzling into the end of the year, loan deep poe becoming the latest casually pulling its offering. what does that mean for square's ipo that's expected to be in trading next week? that's straight ahead.

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square still set to price its ipo next week, but we've seen some highly anticipated ipos like albertsons, neiman marcus and most recently loan depot delaying their pricing due to poor market conditions. joining us right now is cnbc's ari levee and jon fortt. are you priced this is still going forward? >> i'm not really surprised that it's going forward because square has to get this out on

the market. they've raised so much money on the private market, raised it as we know at difficult terms and so if this thing were to delay too much farther we know they're burning a lot of cash. if you get to the point where they've got to raise money then terms would be really difficult. so they really need to get this out there now where they still have some leverage, even though there's going to be some challenges because there are a lot of questions about the business model. >> how many other go to companies are there out there wanting, needing to go public? >> there are probably a lot that are nowhere near going public yet. i think those are the companies that are really going to experience a crunch in silicon valley over the next few months, it's a question of how long can you hold your breath. it's an environment as ari pointed out in his story where if you don't have to raise money you don't want to. if you don't have to go public, similar thing. so square, though, is a company that doesn't have everything figured out, it's largely based on risk, they have taken on more

risk off of their retailers, their sellers trying to grow. it looks to me like the sort of is company that is going going to have even more risk heading into next year. now they want investors to take on that risk. probably better for them to pull that off sooner rather than later. >> mike. >> i just wonder, maybe ari can speak to this a little bit. what are people thinking about the business prospects for this company once it's public with a ceo thank you also ceo of another company, twitter. how are they evaluating it, what are the key questions in terms of do i want to invest in this this i think today? >> that is a really critical question. i don't know if we can possibly give enough attention to that. it's not just that justice department -- jack dorsey is running two companies, he's running twitter and square which are both equally -- if you're considering the twitter ipo you have to be wondering what kind

of attention jack can give -- if you're investing in square you have to be considering what kind of attention jack can give to the company and you also have to be looking at the bench and how strong the rest of the management team is. but, you know, the question coming up on the road show has got to be, jack, what's your schedule going to be like. >> jon. >> also very different companies as far as the challenges they face. twitter its challenge is how do we get users, ordinary people to use twitter more, to engage on it more. square is pretty much abandoned its consumer focused strategy thus far. it's not about the wallet, it's about merchants and its ability to underwrite the risk in individual merchants. can it see clearly enough what the cash flow is on an individual merchant to front them cash and for that to be a good deal down the line? very it different companies and this one guy managing big risk at both. >> evan, bob pisani made an interesting point as well which is maybe it all comes down to price and if you look at the

company who went public today, it lowered its price to $16 it did okay. is that enough here to sort of salvage the story? >> i think the issue is less about getting an ipo out. if you cut the price enough, you know, people will buy stuff. so if they cut the price they'll buy it. the issue you have is more that these are both twitter, square, they're not -- you know, they're not like google, they're not like facebook, they're unlikely to be like that. you're asking the investors to take a leap and there's this whole psychology around it about momentum and everybody buying into the story and the problem you have with a company like square is you keep on cutting the price and all of a sudden the story doesn't look at sexy. especially when i read ari's piece about the ratchet. when the company starts doing ipos and has to worry about making certain investors happy it's a bad recipe. >> and there's much more in the piece. ari, thanks for joining us, jon

fortt as well. we will keep an eye on what happens early in week with square. fanduel is beginning to limit access to its site in new york. the latest details are next. later, why your seemingly vanilla retirement fund may actually contain risky investments in startups like snap chat. stay tuned.

welcome back. we begin with sue herrera and some breaking news. sue. >> indeed. this is out of paris. two incidents we do not know if they are linked and authorities are not necessarily linking them

together, however, they happened very close at the same time. we have explosions heard just north of paris at a stadium during the france/germany football match. separately from that in the right bank of the river sainnes. police say there has been a shooting. two police officials confirm the shooting for the "associated press" but they are not saying how many people may be wounded, however, they are saying that there are other casualties. so far two people reported dead. the restaurant is reported to be le bell ekeep and two main rail stations are on the right bank and those restaurants many of them are gathered around those

two rail stations. the two main railway stations are located there, we have had a shooting at a bar/restaurant on the the right bank and then separately we have heard those explosions from a paris stadium during the france/j erm knee football match. kelly, we are going to continue to monitor this situation for you. back to you. >> thank you very much, sue. we will give you more everybody, of course, as soon as we get it. just a few motion alg fanduel reportedly will begin limiting access to players in new york after the state's ag took moves to shut it down. this just hours after hundreds of fantasy sports players came out to protest that decision. this morning our eric chemy was in the mid of that rally. now we have this latest twist. >> it's interesting to see how it's changing hour by hour, day by day. today the news a lawsuit was an interesting thing because a couple of days ago the new york state attorney general fanduel

and draft kings to say we don't want to be shut down we're going to force the courts to shut us down, now a couple hours after that it was never mind we won't take payments in new york. what's happening is reduced advertising, they were the number one advertisers in america a couple weeks ago, a couple months ago, bigger than geico and bigger than warner brothers. parts of that is what drove everyone crazy. they are now scaling back. they are actively taking out their signs from stadiums, the report said they're deferring payments to some of the nba teams. they don't want so much attention on themselves and they have to start paying for lawyers. draft kings just hired david boies he is the buy who represented al gore against gorge bush, he represented the nfl against tom brady in deflate-gate. of course the protests were there really across the street today. only about 250 people, 100 of

them were fanduel employees because they are headquartered in union square. there was a big crowd but only for one block. schneider man should focus on real problems, what's the definition of a real problem. we just heard about explosions and terrorism in another part of the world. some people might say let it go. if you think it's gambling and you are thor state attorney general you have to stop it if you believe it's illegal. >> i'm greatly relieved about the television advertising -- >> thought you didn't watch table. >> only for sports events. >> you're busted. >> i'm so not busted. openly for football games, that's true, that's the only place i can get them. look, i think this whole thing is going to enter a new phase which is going to be pr, lawyers, politicians, regulators -- >> you're for getting lobbyists. >> what i find so interesting is that, you know, a lot of big boys are playing, a lot of big

media companies, jerry jones, bob kraft of the patriots. >> and universal has a stage in fanduel. >> all the media companies. the payment processors, paypal is the company that's funneling the money to draft kings and fanduel. one of the smaller payment processors today already said we're out, we don't want to get caught in something that might be illegal. >> that's the way they choked off things like online poker is basically through the payment fire wall. i think the advertising you can't straight from this whole i wish issue because it seems to brazen. if you are somebody who is secretary of state of new york and you have a law on the books that says you cannot gamble in our state and every commercial break they say you can win millions it looks like a? you be. >> people may have a few hours left to play on a draft kings and fanduel. >> this weekend's events will still go on. if you are already in their system you might be able to play. if you try to log on now as a new person you might not be able

to. if you are in downtown manhattan maybe the gps thinks you are in new jersey and are able to get in? >> sounds like words from a man who has played. >> i know how the business works. >> a friend. eric, thank you so much. kfc the latest fast food chain to test delivery service. we will look at which other companies do want to bring food to your door and how it can shake up the restaurant space. can drones be the solution to i think bring americans and people around the world access to healthcare? that's later on the "closing bell." t predict... the market. but at t. rowe price, we can help guide your investments through good times and bad. for over 75 years, our clients have relied on us to bring our best thinking to their investments so in a variety of market conditions... you can feel confident... ...in our experience. call a t. rowe price retirement specialist or your advisor ...to see how we can help make the most of your retirement savings. t. rowe price. invest with confidence.

an loose is a management led by david pepper is out with t r their third quarter. liquidate add its alibaba stake and their stake in bank of america as well as mohawk, lennar and dr who are ton. we have a new position in all state of 625,000 shares, a new stake in southwest airlines, eagle materials, nike and ingersoll-rand. they also saw an increase in holdings, including delta by 1.8 million shares, nse

semi-conductor as well. they did decrease existing holdings in general motors by 6 million shares, reduced its position in goodyear tire by 4 million share and reduced its stake in apple by 1.08 million shares, an loose is a also reducing its stake in kbr and united continental. back to you. >> we will see if that moves those stocks around, david tepper reiterated his support for gm in an interview not long ago. >> the dow did decline 202 points, this week energy by far the weekest sector, consumer discretionary not far behind, 1% declines across major indexes, the s&p down 22, nasdaq 77. yum! brands one of the new big restaurant stocks higher today. back home in the u.s. the company is testing delivery of its kfc brands. jane wells, did you get some? >> i've not some of their taco bell, we'll talk about that in a

second. there's a whole bunch of restaurants that are using these services, some like delivery, some don't. as you say, door dash is a very popular app, tech crunch says it's raised $60 million in funding. started delivering taco bell earlier this year in under an hour for a small fee. yum! liked it so much it's letting it try kfc in experimental tests on the west coast. i tried the taco bell early in year, the burritos did arrive on time and were still hot. legendary california burger chain in and out is suing door dash, you can't pick up someone else's food, the problem is trademark en fringement they claim that door dash is using a knock off logo to make it look like in and out and door dash have a deal when they don't. >> consumers will probably believe that in and out has some involvement and control over the temperature or the timing of when the food is deliver and that the experience of the

consumer when they get the food will be similar to that if in and out was involved when in fact it's not. >> you can see here is your typical line at an in and out, like this all the time, you can see why people would want delivery if they can get it. in and out is seeking unspecified damages, door dash did not respond to our request for information but it could be facing double double trouble. kelly, you were out here you would be laughing your you know what out. >> i get it. i was in a line worse than that in a las vegas in and out burger earlier this year. delivery is a game changer. thank you, jane. let's drink in stand chia, et cetera the senior vice president and head of delivery at grub hub. welcome. >> good afternoon. >> so if a company like in and out doesn't want somebody else delivering its food, making it look like they endorse it does somebody feel like they still have the right to do so?

>> i think from our perspective at grub hub we believe really, really in partnering with restaurants. when we provide delivery services we are really partnered and integrated into the restaurant with tools and technology that help them manage their work flows a little more efficiently and ultimately drive a superior experience to their diner. >> you guys have been doing this now and building out the business for years. what about a lot of new startups, even a somebody like union uber which is offering a messenger delivery service to say we will get you whatever you want and that happens to be the nearest fast food items. that takes away some of your business or potentially infringes on the restaurant -- the restaurant's control of its delivery, doesn't it? >> you know, i think with when we look at it we are uniquely positioned here in that we are really, really focused on food. we have a singular focus it's all about food for us, we want to make sure that the restaurant and diner has a superior experience. every way that they interact with us from the website to how you we do order confirmation in

the restaurant so how we manage our deliveries is he can to used on food and i think that speaks again tots theme of partnership and ultimately we are so focused on a superior experience for both the diner and restaurant. >> mike santoli here. i wonder about when you go to a partner or start doing business with a partner how much do you have to be sure that that restaurant can basically fulfill its obligations to deliver these food. in other words, if a fast food restaurant is running near capacity based on its drive through and walk up traffic and are staffed for that cuff assurances that you're going to get people what they're demanding which is quickly delivered food? >> i think we try with technology to make sure that we really understand the situation both within the kitchen and both within the delivery network. i think we're able to have really good understandings of what's going on and part of that is through the integrated technology that we provide. we understand what's going on behind the scenes and that allows us to stand by the commitments that we make. >> stan, what's your holy grail? what's the one food item you want delivered that they don't

do right now? >> you know, i don't know, i've got to tell you we deliver almost everything, that's one of the great things when you have 6.5 million active diners, 35,000 restaurants, we have a lot of stuff on the platform. >> what about that kronus? there's always something. you can always pay somebody enough money to go get you whatever you want as you well know. thanks, stan. many americans who had trouble watching last night's football game between the jets and bills had nothing to do with their tv reception. first we will hear from a leading voice behind the push to deliver better healthcare through the use of wearable devices an drones. stay tuned. s random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement.

there's no way to predict that. for all the confidence you need. td ameritrade. you got this.

welcome back. we have more breaking news on paris. sue herrera, what can you tell us? >> it's an ongoing story, kelly, still develop in paris. basically here is what we know. there have been explosions north of paris and gunfire in paris. police officials in france reported a shootout in a paris restaurant and and explosion in a bar near the paris stadium where france and germany, where the stadium is located. there are conflicted reports on where the shootout occurred in reports, there are some reports that -- this is the french media direct live feed that we're watching from paris. bfm television reports several dead in the restaurant shooting

which is on the right bank of the river seine, it is also not far from where the two main rail stations are. at the stadium de france north of paris, 30 minutes, i believe, north of paris, mr. hollande has been evacuated and the interior minister who were both attending that particular match have been evacuated and headed back towards the interior ministry to coordinate the events. it is an active situation in both areas. officials right now are trying to get the latest developments to the news media. police are just basically saying there are probably three, but there may be more incidents going on in paris right now. so we're monitoring the situation, kelly, but just -- if we could go back to that live feed, you can see just a short while ago you actually saw police walking down the sidewalk

in paris, guns drawn, and so it's still an active situation. there is one report out there that police have said that people should stay inside. that has not been confirmed by nbc news at this point, kelly, but right now we have at least two, possibly more ongoing incidents in paris and just north of paris. the attacks reportedly are still under way. kelly, back to you. >> sue, just to clarify here as well and i'm reading the "associated press" copy on this, they're saying shootout in one paris restaurant, an explosion in a bar near that stadium that you mentioned. so far have there been reports of any gunfire or explosions in the stadium itself that the president reportedly was evacuated from? >> not in the stadium itself that we have right now, kelly, but they were close enough and loud enough apparently to drowned out the cheering and if you've ever been to a soccer match in europe you know how

passionate the fans are. they were so lo you had that everyone knew that it wasn't just fireworks. hang on one second. alex, what were you saying to me? alex? okay. kelly, dow jones now reporting that dozens of dead in these two incidents. we don't know of course where the fatalities would have been in terms of -- we know there was at least two at the restaurant, but we don't know about the stadium. so numerous deaths reported in the separate paris incidents. once again, those attacks are still under way. >> the most recent ataxic think of in the area is what happened on that high speed train in august when it was -- i believe those young americans who interfered with what could have been a mass shootout. >> absolutely. keep in mind this area of right bank reportedly is very near the charlie hebdo newspaper head quarts and of course we all know the incident that took place several years ago in paris when we had those mass shootings at the charlie hebdo situation.

keep in mind we have the climate summit coming up in about two weeks in paris. they have heightened security dramatically ahead of that because of course we have heads of state coming to paris from all over the world. >> yes. >> so they have already ratcheted up security, but apparently not enough given this. >> that summit that you mentioned, sue, as well, is going to be something like the united nations on scale, they are expecting to have 180 countries or more involved descending on this capital. one of the shootings appeared to have taken place near the train station. >> no, not near the train station but that area is near -- that's where the two main train stations are located. we don't know exactly how close that restaurant/bar is to it, but a number of wire services are pointing out the fact that the major transportation hubs in paris are located near that particular area. we now have police saying -- paris police saying that they fear dozens are dead in the paris attacks. i do not know whether or not

that means at the stadium or whether that means at the bar. we only have a confirmation of two people who are dead in the shootout at the bar. >> sue, thank you. our sue herrera. we will continue to follow the story for you and have more on the violence in paris when we come right back.

welcome back. attacks in paris. the capital of france. sue herera has more on the developing story. >> there is an on going incident. several in paris and north of paris. that is live -- a live feed, you could see the troopers walking down the street. they are heavily armed. associated press quoting police saying at least 11 are dead in the shootout. they are citing other violence around paris but not being specific about that. it happened a short while ago. police saying that there was a shootout in a paris restaurant in the -- in the tenth arisement on the bank and shortly after, if not simultaneously, we heard of one, maybe two explosions north of paris. half an hour north of paris,

stadium of france is the tran legislation, where france and germany were holding a match. french president holland was at the match along with the interior minister. both were taken back into the interior ministry is what we are hearing. nbc has not confirmed that particular fact. they are trying to coordinate the efforts on that. so what we know right now is associated press quoting police sources as saying at least 11 dead in the paris shootout in the attack. and we don't know of any fatalities at the stadium north of the city. keep in mind, the attack comes as france has heightened security considerably because they have this upcoming climate summit coming. and it is about two weeks away. so they do have a number of heads of state coming into paris. but right now there is a hostage situation reported at the paris concert hall. now, it is very fluid. we now -- this may be the third

incident, kelly, that they were talking about. but that nbc news has not yet confirmed. want to stress that. but plus were quoted as saying there were three incidents so that would mean the bar/restaurant, that would mean the concert hall and the stadium north of paris. so there are ongoing, very fluid and obviously extremely serious and deadly situations going on right in the heart of paris and just north of paris, kelly. >> and the french government we understood recently did announce a cyber security strategy, sue. and actually, even as we had blowback to the nsa data collection, in many ways there they are ramping up because of the attacks in august on the train and in january with charlie hebdo and the groceries. >> that is exactly right. and kelly, let me interject that bfm television, which is live french television, and again you are watching that feed live, said there is a hostage-taking

operation under way at the paris concert palace. basically that is all we know on that particular situation. so that would be the third situation that was described by paris police. so once again, it is north of paris at the stadium. a bar/restaurant in the tenth area of paris and then the concert pal ace. and most of these, according to police resources, took place simultaneously or closely together. so we do have paris -- really being hit by several terrorist attacks at this point, kelly. and you are right, it does come as they are ramping up security, cyber security as well, monitoring the different feeds from all over the world to see whether or not there were any leads or any indication that there would be an incident, a terrorism incident because paris of course has been hit with that -- as you mentioned, a number of times before.

kelly. >> yeah, and obviously, sue, it is a moment everybody is going to reflect on what is happening with the migrant crisis at this moment overtaking all of europe. the concern is not just handling the population influx but a change in culture, a change in civilization and paris itself is a far, far different city than the paris it once was. whether that inflamed the tensions will depend on anybody who takes responsibility for this and how the thors respond to it and how people feel as though they have been protected or not. >> absolutely. and kelly, nancy ing, with nbc news in paris, saying police in paris now confirm 18 dead in the incidents tonight. it is not clear how many incidents but obviously there have been several. there is a nightclub shooting that is ongoing, according to nbc, with hostages reported there. in addition to that, as per nancy ing of nbc news, police say the explosion near the soccer stadium took place at a mcdonald's.

that is what the police are telling nbc's nancy ing, i should say. that the explosion near the stadium was at the mcdonald's. the nightclub shooting is ongoing with hostages reported. 18 dead in the incidents. and according to bfv television, we have hostages also at the paris theater. >> sue, just because i know this is fluid and still ongoing, are there three incidents or four now? as you mentioned with the nightclub situation? >> we're not sure. it is at least three. but we had heard from other sources, but nbc was not able to confirm, that there were four. so nbc is going with three right now. but it could be four. we are trying to confirm that. at least three. >> to bring everybody up to speed on what is happening here in paris. a live situation. a restaurant shooting now apparently reportedly a mcdonald's not far from the -- the restaurant shooting and the

tenth arondizement and then explosions heard outside of a football match happening, the french president evacuated there. you could see the stade defrance north of the city and that was the second situation. the third, apparently the hostage situation at a paris concert hall, the concert palace. and then unclear as to what is happening with the potential nightclub shooting. and that is just what we know at this moment. >> that is all we know at this moment, kellych and as you could see from the live feed, it is a chaotic situation. obviously there is a lot of police androt gear police -- riot gear on police. they are heavily armed and trying to secure as much as possible. if you look at police officer crouched by the police car, it is an ongoing situation and they are treating it as a quote, unquote, live situation, which is what they call it when -- when -- 26 okay. what is the source? okay. so tell -- kelly, associated

press saying 26 dead in the violence around paris. >> 26, that is compared to 20 dead after the attacks on charlie hebdo this year. i just want to bring in olivier revel who is a former fbi counter terrorism chief. how would you handle the situation and what are authorities trying to do at the moment. >> they are trying to get a handle on it. first responders are still at risk. they are trying to get the crowd under control so they could in fact neutralize what is remaining of the four-prong attack. there are -- i think undoubtedly it is a terrorist attack. they won't call it that until they have proof but all indicators are that is a coordinated terrorist attack. and especially the three elements. you have the group -- the gia, the armed islamic group that is out of north africa and they have been carrying out acts in

france for many years. they've become now affiliated with isis. and then you have the -- the situation with al qaeda in the arabian peninsula which was connected with charlie hebdo. so you have a number of potential suspect groups and you have the first responders and the -- by now they'll have the specialist groups, they have very good ones in france that will have responded and i think will fairly quickly get it under control. but if are hostages, it may be extended for some time. >> after the downing of the russian jet over the sinai is that people were acting in the sinai on behalf of the islamic state but not under their orders. if you were a crowd source kind of terrorism. this event being as coordinated in terms of the timing as it is, does that lend you toward a different kind of organization, of an organizational approach?

>> i think that isis is under pretty heavy pressure right now and i'm just offering an off the cuff opinion, that it might be inspired by isis but it may well be one of the more traditional groups in place like the gia that has the people in place, the wherewithal to plan and train and know the terrain rather than something spawned in syria and brought into france overnight. >> olivier, what about the security situation in paris generally. this would be the third tragic incident this year. i should add though that august attack was meant to have multiple casualties. it did not. it was thwarted, so this would be the second of the scale. much larger than what we saw in january. and that shocked the world. what would you say about the timing of these three events and all of this taking place in the french capital? >> well, the french capital is -- is no more