rising. the notion that there could be some consolidation. >> ballmer's handwriting. he writes on his hand. i do, too. i was really pleased to see that steve ballmer does the same thing. thanks for watching power lunch. "closing bell" starts right now. > hello and welcome to "closing bell." i'm kelly evans at the new york stock exchange. >> i'm bill griffith. producer said we are at session highs. we are up 0.96 points. major averages near the highs of the session. strong earnings by microsoft. we have mcdonald's. we have a lot to talk about. >> how about dell component at&t

maybe nearing a deal to acquire time warner. the two sides are in advanced talks and the deal can happen within days. at&t is down about 3.5. >> he is literally working the phones as we speak. internet companies you probably know this suffering two waves of cyber attacks. the so-called denial of service tax affecting sites like amazon, twitter, spotify and several others. feel like the internet was going through molass s. today we will talk to security expert on who may be behind the attacks. sales force backing away from buying twitter. does it have its eye on any other company? marc benioff will join us. mcdonald's meng thaem.

courtney reagan is at the mcdonald's trading post right there. >> so you know ronald mcdonald may be in hiding because of the clown thing. shares up about 3.4% here today at post five. responsible for about 24 points on the dow jones industrial average. we had earnings beating expectations both below a year ago levels. strong global same store sales up 3.5%. that is the fifth straight quarter that those saw growth. it is a very important number for mcdonald's. all day breakfast and the new recipe for chicken nuggets at least really becoming very popular with consumers. microsoft is responsible for adding about 16 points or so to the dow as far as the upside is concerned. those shares are up by about 4.5%. michael santoli points out the market value is shy of its peak

back during the tech bubble. still it's a record day for microsoft. like mcdonald's both earnings and revenue beating expectations thanks in part to growing strength in microsoft's cloud-related businesses. what they add to the dow ge takes away. ge subtracting about a point or so impact. shares are down about a half a percent. global industrial player missing on revenues. it was power and renewable energy businesses. ge narrowing the full year guidance and adding four billion to stock buy back but not enough to excite investors today. now to new developments on time warner being courted by at&t. >> we could see a deal perhaps as soon as monday. it seems hard to imagine. hearing it come out of my mouth

seems amazing to think about. that is the case. people familiar with the situation indicate that advisers to time warner have been working for quite some time on a potential deal with at&t. this has advanced quickly. only this morning that we -- it was a real possibility that at&t could buy time warner but didn't seem to be quite as close. as we had more opportunity to speak to more people it is quite close. it doesn't mean it is going to happen. we don't know price though some people are speculating it could be as much as $110 a share. a couple of years ago when time warner rejected the advances of fox at the time which was offering around $85 a share there was a thought that it had to be triple digits to believe that there was something real worth pursuing there. he believed at the time and i remember having reported on it that in a few years down the

road there might be other potential suitors for time warner including the likes of at&t which it appears is willing to diversify strongly away from the core wireless business into the content business with what would be a huge deal with implications not just for at&t. shares are down about 3.3%. for many other media companies and distributors one key question who else would conceivably be there? time would be running short if they wanted to do that. the likes of apple which some said would they be interested in making a jump unclear that any of them at this point had the ability to do it but doesn't appear according to conversations the willingness to do it. verizon as you guys know has been active in terms of aligning smaller content offerings whether aol or yahoo. this takes the competitor in

wireless into a much different arena similar to our own parent company comcast which bought nbc universal. comcast not thought to be interested in part because it doesn't want to go through what would be a significant regulatory review. >> the 20-year history looks like what at this point? >> what's funny is you go back. i know you remember all of this. time warner was a combination of distribution and content platform and here we are -- >> now they come back and put it together again. >> back to the days where apparently there is a feeling on the part of those in the wireless business at&t and verizon that content is something they can lead with. hbo represents an important over the top platform that you can exploit. it is not clear what at&t is getting otherwise. cable networks we know, movie

studio, is that really something it wants? i guess so. >> you and i let's re-create the information we had about an hour ago. i could not believe the relatively small market cap at time warner represents these days. $70 billion. >> about 70 billion. any deal if you got to 110 a good amount would be in stock. it is unclear how much debt capacity at&t has on its balance sheet given where it is on leverage. you're right. disney is the biggest out there at 150 billion. let's call it more pure play content. comcast has a larger market cap. much value comes from cable and broadband. at&t is an enormous company. it is looking at business that is not growing that quickly. look at earnings from yesterday. facing a lot of competition. they made the decision to buy directv. some people questioned that. some people may be questioning

this. thus far the shareholders are not reacting too negatively given where the stock price is. >> at&t with directv is the biggest in terms of paid tv subscribers more so than our parent company. more so than charter. so what position does that leave them in relative to verizon and relative to the rest of the media landscape? >> that landscape is changing so dramatically right now. for a long time i sat here and talked about the unbundling, over the top opportunities that consumers have to access the internet as being very slow. things are picking up. it is coming more quickly now. you is to look at this. what will this do for their ability to retain wireless customers which is moving towards video. what does it mean for over the top offerings which they unveiled as recently as this week in terms of at&t and directv now and hbo has its own

products. this world is changing so quickly. i think there is a lot of different responses that will take place as a result of this deal should it actually get to completion. >> we'll let you go. i'm sure your phone is ringing off the hook. let us know what you hear. let's get to our "closing bell" exchange. joining us is renee, keith bliss regaling everyone with the details of the fish he caught the other day. he'll tell you about it. jack checks in from chicagoland where the cubbies lead my dodgers 3-2. that doesn't make you a bad person, jack. keith, if memory serves this is an expiration day either volume or volatility. we have neither again today. >> it is part of the continuing theme that we have seen since we hit all-time highs in august. we have traded into a bearish pattern of dow and s&p 500 where

we have a descending triangle formation that has played out. may not play out completely until late december, early january. it is there and it is evident. you see that when you have a down trend which we have gotten since august and decreasing volume. your point about today being expiration we expect outside volume as people right size their position against any of the options contracts that they have. these are bearish signs that we need to be aware of. at the same time we are about to come out of a weak period and get to a strong period in the first week of november coincide around the election time. i'm curious to see how the two will play out. i would expect more side ways trading with the bias being towards the down side as opposed to any break out. >> how are you guys navigating the markets? >> i think that markets are signaling that we are going to have a likely outcome. feeling a little more comfortable about getting back into the market.

i especially like financials right now. there is a lot of different things that are going on in that space that are making it very interesting. >> a bit of a contrar yn place. >> you are expecting them to raise rates in december? >> i was back on in september i thought they were going to raise it then. i think momentum is building for it to happen. there are a couple of things that i think are really interesting particularly with asset management companies, passive versus active management is a long-standing discussion. so we have had just in the last week two major asset management mutual fund companies that are planning to merge because they have to be able to leverage their profit margins and trying to align themselves with a broader platform so that they can survive. so janice just announced that last week. this morning calvert are merging. i think we will see a lot more happening in that space.

>> jack, david is famous for acronyms. you have a bit of analysis with your three es. >> it's all about the es. we have the election, earnings, energy. everyone is really missing the earnings picture. remember, just a quote, earnings are the life blood of the market. guess what the top revenues are starting to scare me. ge was a strong statement even though we had good news out of microsoft and others. we had about 20% of s&p 500 report these top line revenues have to increase. we have to see better numbers coming out of corporate america or we are too expensive. energy we are starting to see that strong correlation between what is happening in crude and what is happening in equities. i think that will stay that way until the end of the year. we have the end of the month coming up and this election.

and quite frankly it is starting to shape up to what i call a lose/lose scenario for equities. it is starting to feel as if there isn't going to be a clear winner as far as equity markets are concerned. they factor in a hillary victory but the question is will it continue to go up if hillary doesn't. >> going back to your point which has been a dominant theme about active versus passive approaches to this market, what is the mix that you guys are typically using here? >> we actually use passive as a core part of our portfolio. and then use some of the active management. even then it has to be low cost. our clients are asking for that. they are demanding it and now that we have this recent department of labor rule that is putting additional pressure on this space. so we use both of them but we are actively more involved with the passive side of the

investment. >> i'm curious your view of earnings and the quality of the earnings we have seen so far and the impact that may have on the market. >> you have a lot of things coming out. we will have six straight quarters of declining year on year earnings, six straight quarters of declining sales. you have stock buybacks being curtailed pretty substantially and you are moving into an environment where the fed will start hiking interest rates. all of those are negatives for the equity markets. that is why you are starting to see the beari isish formations. so to jack's point it is absolutely right. it is the life blood of the equity market. if it is absent and the market thinks it will continue for some time you will see equity markets pull back or at least stall out. that is where we are right now. >> thank you folks. appreciate your thoughts on today's market. have a good weekend.

>> 45 minutes to go here. dow climbing into positive territory after starting a session much weaker. it is up about a point. the nasdaq is up 14. >> coming up, marc benioff will speak to us exclusively. and if there is enough space in the cloud for everyone to make it. also head elon musk's tesla putting a brakes for ride sharing services like uber or lyft. phil lebeau has details next. you watching cnbc, first in business world wide.

this car is traveling over 200 miles per hour. to win, every millisecond matters. both on the track and thousands of miles away. with the help of at&t, red bull racing can share critical information about every inch of the car from virtually anywhere. brakes are getting warm. confirmed, daniel you need to cool your brakes. understood, brake bias back 2 clicks. giving them the agility to have speed & precision. because no one knows & like at&t. will your business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services

can help prepare you for growth at open.com. find out how american express cards and services theno one surface...out there. no one speed... no one way of driving on each and every road. but there is one car that can conquer them all, the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $369 a month at your local mercedes-benz dealer.

the dow is down one point. movies among the laggers in today's market. the credit ratings agency says the justice department is planning to sue the company over valuations it assigned to mortgage backed securities that led up to the financial crisis of 2008 and moody's says some state attorneys general have indicated their plans to pursue similar claims. the news overshadowed moody's earnings beat. the stock is down 5% right now. >> eight years after the fact. >> what took them so long? >> interesting. if you are working on a plan to use your self-driving tesla to make money as uber or lyft driver you better come up with plan b. >> tesla is developing self-driving technology so that its vehicles being built will be able to drive themselves

potentially in a couple of years. the hardware will allow them to do that as they roll out software. over the years software updates. what is interesting is there is a disclaimer on the tesla marketing website with regards to how people might want to use a self-driving tesla in the future. elon musk hinted at this that we are likely to see a network of self-driving teslas at some point. the disclaimer says using a self-driving tesla for car sharg and ride hailing for friend and family is fine but doing so for revenue purposes will only be permissible on the tesla network, details of which will be released next year. this comes as uber is working on self-driving vehicle technology. we were in pittsburgh, had a chance to test it out. they will be likely expanding the self-driving testing program beyond pittsburgh. meanwhile, lyft saying we are

not developing self-driving vehicles. we are a network but not developing those vehicles. as you take a look at shares of tesla and gm they both report earnings next week. keep this in mind. i was talking with a lawyer friend of mine and i said can tesla say if you buy one of these you can't use it for any other ride share companies except with tesla and he laughed. he said once you buy a vehicle whatever you do with the vehicle is your business. if you lease it from tesla that is a different story. if you buy it and you own it you can do whatever you want. you want a ride share program for creepy clowns go ahead and do it. nobody can tell you exactly what you can do although the disclaimer says they want you to use it as part of a tesla network if developed. >> that is a good one, ride sharing for creepy clowns. that's good. i mean, i'm the wrong guy to

bring this up because i'm not sure there is public clamoring for driverless cars. do you want to get into an uber car, an empty uber car. >> we're a long ways from that happening because regulators are likely going to require a driver in the front seat for many, many, many years to come. now, eventually somewhere down the road you might see that. but it's interesting that tesla is laying out the ground work that if they establish a tesla network they are going to expect you using teslas for that network and not for uber. >> thanks, phil. >> thank you, phil. about 38 minutes until the close. dow lower about seven points. s&p is negative 2. the nasdaq remains up 12. twitter is off the list. salesforce.com ceo marc benioff will tell us which company he is

i didn'ting for possible takeover. >> a part of the infrastructure attacked. a few sites affected. we will have the latest developments and who could be behind this troubling attack. stay with us.

today many are gathering in houston for the celebration of women in computing conference. >> our own julia boorstin is at

that conference. she joins us now along with marc benioff who was a key note speaker at that event today. please say hello to marc for us. >> thanks so much. i appreciate it. thank you for joining me here. you about to go on stage and talk about what you are doing at sales force to help close the gender gap in technology, a gap that is large. why is it such an important issue for your business? >> it's important for my business because it is important to my employees and my customers. it's important for my partners and therefore it is important to me. i will tell you that having a more diversity in our work force is extremely important to us especially gender equality. that is really important. and we have made tremendous gains in the last five years. we have seen the number of women in our organization rise but it's not just about that. it's not just about more women. it is not just about getting them great advancement. it is about something else which is pay equity that is women have

to be paid the same as men. and as we have seen in our industry and other industries that just is not true. we made a big decision which is to pay women the same as men and we made a reversal where we had to adjust $3 million so that we did pay all women the same as men. and it is something that i am very excited that we made this change. >> another great topic that everyone is talking about is twitter. twitter stock has been very volatile. you have been interested in buying twitter. now you no longer interested in buying twitter. walk us through your thought process. >> it is very simple which is that our stock holders heard that we were involved in a process. they made it clear that they did not want us to buy that company. very specifically we had to walk

away. i love the ceo and the company and the brand but our stockholders don't. they are an important part of our family and how we do business. >> is there a price at which twitter would make sense as an acquisition for sales force? >> no because you see that our stockholders are so against us acquiring it. they would have to have a change of heart for us to be able to move forward. >> there must be something fundamentally about the company that you think is a good fit for sales force. >> i think there could be a lot of possibilities. but what happened is the deal leaked. you saw that and when it did leak our stockholders -- i was at the dream force conference in san francisco including all of our major stockholders. we were in a room with 200 of them. they voted their displeasure. the reality is it is not my

company. i am a stockholder, i am a significant stockholder. our company is made up of many key stakeholders. they are one of them. i run this company in partnership with our employees, our customers and our partners and our stockholders, too. that is important because women are a critical part of what we do at sales force. that is why women are as important stakeholders as stockholder. >> i don't know. >> do you have sense of why? $4 billion worth of acquisitions this year. is it to compensate for slowing of organic growth? >> we have been extremely

fortunate to find amazing companies this year, companies that we didn't think we would be able to acquire, some of that are private, public, one specifically demand wear which is incredible. you can see the tremendous result that demand wear is having running commerce online. adidas had tremendous success especially just this last weekend with the new 350 shoes. that has been a great success. we are so excited to have demand wear as part of the family. we picked up amazing private companies including quip which builds productivity apps. it is quip. it is pretty awesome. >> always a salesman. >> give me the opportunity i'm going to do it. >> since your shareholders voted for sales force not to buy twitter do you think you need to buy something else? since you were last on those

e-mails about the different companies that you have been looking at are out there. >> what is exciting is -- i think this has been a good positive thing for us as well as shareholders is you can see we have a very disciplined process. we look at a lot of things. we walk away from almost all of them. only the best assets are the ones that we are going to acquire. we are willing to look at everything. i think we have an obligation to look at everything. that is something i told our stockholder. we have to look at everything. we have to look at every possibility and now you can see through these hacked e-mails that we do. we have a very disciplined, refined control process and we have made very good decisions over the last several years. >> i don't think you quite answered my question. how important is it to maintaining pace of growth so you are hitting your targets?

>> i don't think it is important to reach. that is not why we awire. we acquire mostly for innovation. we are committed to being an innovative company. you probably saw forbes magazine rate us innovator of the decade because we are committed to organic innovation and also very committed to inorganic innovation to bring amazing entrepreneurs and technology to our company. and the process is critical to doing that. inso much as that happens quite a few can take off and turn into amazing businesses for us. the fundamental point is we really do it for innovation. >> thank you so much for joining us. back over to you. >> thank you. time for cnbc news update. here is what is happening. we now know the identity of two

americans killed wednesday at an air base in afghanistan. 26-year-old sergeant douglas from fair view, illinois and a civilian were shot. three other americans are in stable condition in the hospital. g-6 interior ministers are meeting in rome today. topping their agenda, immigration, security and extremism. dozens of people in central pennsylvania are being evacuated because of flooding. heavy rains caused flash flooding. roads, businesses and some schools are closed and more rain unfortunately is expected. and take a look at this. carving halloween jack o lanterns is tough enough. divers at sea life are going one step further, doing it under water surrounded by sharks and rays and sea turtles and fish.

they are not your average jack o lanterns. they are all carvings of sea life that you can see in that particular aquarium. not spooky at all. that is the news update. >> that is one of the things where i would have loved to have been at the pitch meeting. >> i can't carve a pumpkin above the water. this is making me feel worse. >> what do you say we have a contest this year? >> i'm telling you you don't want that. >> do you have a secret carving -- >> it's a fun tradition. >> thank you, sue. see you in an hour. 26 minutes left here. this is amazing. we keep talking about the lack of volatility, the narrow range the markets have been in for weeks if not months. today we have neither volume or

volatility. we -- >> we will see what happens on the bell. sometimes we get those big moves. >> we'll see. a leading trader will tell us what he is watching. >> and we'll speak with top market technician about microsoft and whether mr. softee has room to run on the upside. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorsm's in-app chat.

it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade.

sara eisen. less than half an hour to go. there is one name everyone is talking about. carter worth joins me here at the chart at microsoft. >> here we are in the third friday of october. exactly a year ago microsoft's first got above its peak. >> when chwas? >> earnings beat. >> it is 1999 high. the stock gapped on earnings on third friday of october a year ago. here we have a gap on earnings exactly one year later. if you look at the chart what we know is there is your all-time high. it took 15 years to get back above. a year ago we broke above. here we are gapping again. in fact, the near term chart shows the gap. gaps are very constructive thing in charts.

>> let's look at the near term chart. a lot of people might say clearly i have missed the move. >> so if we look at this. that is a quarterly miss. that's a quarterly beat. and that we have a quarterly beat. gaps typically come in pairs. 13 weeks ago and then 13 weeks and 13 weeks. typically after a move like this you get follow through. it happened in october a year ago. i think if you want it you stay if not nothing wrong with paying up. >> thank you. appreciate you coming down. >> good stuff. 20 minutes left in the trading session with the dow down 16 points as we head to the close. the latest developments on this enormous cyber attack targeting major websites including twitter and spotify. we have had problems getting on the internet. we can talk about who can be behind the hack.

"game of thrones" may find itself in a new kingdom. the popular series may find itself as part of at&t. we'll talk to a former time warner executive about the possible deal still to come on "closing bell." chasing after short term returns. instead if getting caught up with the crowd, the investment managers at pgim take a long term view, teaming specialized active investing with risk-management rigor, to seek out global opportunities. we manage over a trillion dollars this way, attracting many of the world's leading investors. partner with pgim. the global investment management businesses of prudential

(ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store.

our next story is the stuff of mystery thrillers and action adventure movies. it is just very annoying. >> hackers are disrupting some major websites today. eamon javers has the latest. >> it all began a little after 7:00 with a major denial of service attack on one of the companies that provides infrastructure to major websites. that was the first wave of the attack this morning. take a look at some of the companies who had been affected by this putting out statements that their websites have been impacted. amazon web services, netflix, twitter and spotify saying they have been impacted by this outage mostly on the east coast. the company at the heart of all of this is a company in new hampshire that provides dns services, the infrastructure that connects users to websites of its customers. dine gave us a statement in the

wake of second attack saying our engineers are still investigating and mitigating the attacks on our infrastructure. i have talked to folks at the department of homeland security. they gave us a statement saying we're aware and are investigating all potential causes of this internet outage. the second wave of the attack began a little bit after noon eastern time and seems to be spreading to the west coast of the united states unlike earlier attack which seemed to be more centralized on the east coast. law enforcement and intelligence officials are not giving any indication of who they think did this or why they might have done it but it is very spooky stuff. as you say, if you are trying to send a tweet today that can be a little bit annoying. >> thank you. eamon javers with the latest. let's bring in chief technology officer for bit site which creates daily security scores for companies. thank you for joining us. do you have anymore information

on what is going on here? >> it's interesting to see this is impacting major u.s. properties. this is not a hack that a lot of consumers think of like yahoo. it's really attack on the infrastructure where services that allow the computers to communicate are overwhelmed with requests. because those are so overwhelming they are not able to fulfill the services that they have so it causes this mass disruption. >> so what do you do about that? there is nothing you can do to defend that, is there? >> this type of attack is almost impossible to stop. you can really only mitigate against it. you try to filter good requests versus bad requests or throttle which is i am only going to allow so much of a request. there is no stopping this type of request which is distributed denial of service attack. >> there were some indications from the tech community that this might have been centered on a major host based in new

hampshire that is a small player. i don't know how you say dyn. could that be the case, such a small player could end up affecting major websites and the internet frucinfrastructure tha are talking about? >> absolutely. something like this happened last year to netflix. it shows the interconnectedness of the internet. you see the risks of doing business and operating services on the internet that one company can impact many others. >> you know a lot more about this than i do. i was thinking about the relationship thrks commonality of the servers that are used by so many different companies. is there a way to diversify that? would that help to some degree? >> there are strategies and companies that provide mitigation services, different tools and technologies to do it. the real fundamental thing is that there is no stopping it.

when you think back there was investigative journalist hit with overwhelming around 600 giga bytes. stopping that completely isn't going to happen. there are only ways of managing. >> i will state the obvious. this shows how vulnerable we are in the world of cyber space especially when you consider the disruption to commerce. pay pal announced that people were unable to make payments because of this today. >> yes. and it's one of those growing problems. we have seen a trend if you look back some banks were targets of these types of attacks which stopped them from operating normally. it is a big challenge that people are trying to attack. >> that's for sure. thanks for joining us. we keep an eye. it's affected us, too. cnbc. >> we try td this morning.

i was just annoyed figuring that something was going on with the internet and it was. 13 minutes left with the dow down ten points. we head towards the close on what is an expiration day. we are not seeing evidence of it right now. >> i have been -- it has been 68 years since cleveland indians won the world series. this all figures in to the market acronym right after this.

there's no one road out there. no one surface... no one speed... no one way of driving on each and every road. but there is one car that can conquer them all, the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $369 a month at your local mercedes-benz dealer.

ten minutes left in the trading session with the dow down ten points. by the way, on cnbc's syndicated show "on the money" this weekend kelly is the guest host for becky who is on maternity leave. i would like to point out that finally i got kelly evans to take a dna test not only that but she does it on the air on "on the money." it's worth it. >> bill griffith is on to talk about the book. if you missed any of our coverage get up to speed. our friend david dars,

independent investment consultant. >> trying to put a child to bed and all she does is -- >> how many books have you written? >> 12. >> this written with your beloved daughter. >> this coming tuesday night will be the 112th world series baseball. and that kind of brings to mind the word series. we have this sedate and serene market. it is a calm that is eerie. the e is electoral developments. you have to be prepared to move health care, financials, oil, coal and the mexican stocks and mexican peso. they will move depending on the election. they have moved somewhat. i don't know that it is totally

baked in. the r is the rising dollar. that is not good for multination multinationals. it's not good for oil price, not good for exports and earnings. you will want to keep an eye on it. the dollar is up 3%. >> the euro is like -- >> amazing strength of the dollar gives the euro and to a lesser degree the japanese yen. the i is interest rates rising. there is another one. real estate investment trust. the telecom, utilities sector and gold mining stocks will be hurt if rates continue to rise. banks are up 3% this month. they have been a big beneficiary. the next e is earnings. from there we often speak in foreign languages in the show that the foreign language today is earnings are meh. meh is basically with a shoulder shrugging. and it means it comes from be

that as it may, believe it or not. it is a form of indifference. the earnings are somewhat indifferent. that leads you to the s which is small and mid cap stocks which have a domestic focus. that calls for selectivity in the small stocks. next week we have the consumer confidence, personal consumption and the chicago pmi. it is a full week next week. >> the edmology of meh. >> there is a wickapedia. >> earnings are kind of meh. >> i like that. thank you. we will take a break with the dow down 15 points headed to expiration here. the closing count down in just a moment. after the bell the potential time warner at&t marriage seems to be inching closer to the alter. we will talk about regulatory issues that the deal might face.

we will talk to a former time warner exec. you are watching cnbc, first in business world wide. it's not just a car, it's your daily retreat. the es and es hybrid. get up to $5,000 customer cash on select 2016 models. see your lexus dealer. [ that's a good thing, eligible for medicare? but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they could save you in out-of-pocket medical costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and virtually no referrals needed. join the millions who have already enrolled

in the only medicare supplement insurance plans endorsed by aarp... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. with all the good years ahead, look for the experience and commitment to go the distance with you. call now to request your free decision guide. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade. i'm in vests and as a vested investor in vests i invest with e*trade, where investors can investigate and invest in vests... or not in vests.

sign up at etrade.com and get up to six hundred dollars. "closing bell" is sponsored by e trade. don't just see opportunity, seize it. 2 1/2 minutes left with the dow down 17 points as we head towards the close where we are not seeing volatility or volume. courtney reagan joins me.

we have a five-day chart of the dow. i will be interested to see what the final result is because we were just talking again as everybody is talking about this lack of volatility. that looks volatile. that is a pretty narrow range. >> this morning we started down about 100 points. now we are down 18 points. it is not much. >> wti, oil seems like it has fund base now above $50. >> yesterday was more volatile than today. >> the ten year last year was flirting with 180. it has come back from that at this point as the more evidence of slowing economy continue to move lower this week down to 1.73. something like that. i can't read the red this far away. earnings is a big part of the story. we want to review a few stocks that had earnings that were both

very positive and some were not so positive. >> you have names like mcdonald's. that is a turn around story. there is a lot of focus there. it is really nice numbers and the stock responded in kind. microsoft, too. how often do you see a microsoft move? >> taken 15 years to get back to where it was in 1999 when it hit the $59 range. now it is $60. ge disappointed on the revenue side. you were highlighting skechers a little while ago. >> skechers down double digits. what is interesting is that they are talking about wholesale sales. that is when skechers sells their shoes to macy's or a retailer and call out specific names. what concerns me a little bit about what we can see going forward is other vendors that are selling. >> amd we had been watching that carefully. we are always watching chip stocks and the state of the pc market or other markets is. down 6%.

>> there are moves in volatility that you can find if you go looking at least today. you may not see it reflected it was there. >> down eight points on the dow to close things out. mining celebrating 125 years of business at the new york stock exchange and right to play ringing the bell at the nasdaq. stay tuned for hour number two of "closing bell" with kelly evans and company. have a good weekend. a little bell happy. welcome to "closing bell." i'm kelly evans. we are going out with declines here on wall street. we tried to climb into positive territory and stay there. the dow dropping 16 points on the bell closing 18,145. s&p looks like it is negative, too. keep an eye on options expiration. 2,141 the closing level. many people watching the 2,130

level. 2,141 today's closing level. the nasdaq managing to stay in the green today. adding 15 points up to nearly a third to 5,257. a lot of discussion about microsoft in particular having a strong day. time warner surging while at&t is falling as the companies are in advanced merger talks. a former time warner executive joins us with his take and how likely the deal is to get done. the shares up nearly 8%. at&t dropping 3%. joining me on the panel we have cnbc senior markets commentator michael santoli. also fast money trader davidceiverert. by the way, we haven't talked as much about it. oil on a five-week win streak even though it has been choppy lately.

>> it has been holding on to those gains. that has been under pin ag lot of stuff. the high yield market has not given way. if i look at why the stock market has been in the static phase you have oil pretty much holding steady. i think when you have corporate news you have the earnings beats and misses are offsetting one another. you have deal talk. i feel like this market is kind of staying well supported but without a lot of energy behind the buying. it feels like maybe it needs to try lower. >> felt like merger monday. not only was there at&t time warner talks but talks about apple being involved. it is offering control of reynolds and maybe alaska and virgin going another way. a lot of deal making. >> the deals quaalcomm and the

british american tobacco deal those deals make sense. those are kind of horizontal mergers. they take capacity out of the market. those are good deals. they aren't very sexy. >> are these the deals that happen in a no growth environment? you have to take cost out. the top line is not growing. >> the market overall is a big bowl of nothing. it's a giant snooze fest. >> were you impressed with microsoft? >> it is like day to day. i'm very much of what mike was saying the support for the market, not a lot going on. we have been in this $20 trillion holding pattern in the equity markets. doesn't mean some sectors won't do better. i still tend to favor the oil area, financials. i think the next move in order for things to go higher you need to see an understanding hillary clinton will be president, that there will be regardless of who controls the senate or house there will be a lot of fiscal

stimulus which should send treasury yields higher which should give a little more confidence to the market. i don't know that that is what will happen. >> ge today was kind of a microcosm of all of this. they have power aviation and health care all setting oil and gas and transportation as bob pisani was pointing out. they managed to chew some beat. they are as good as anybody. there is underlying that you can look at the positive side. united technologies today in the heels of that saying the division looked like something with a bright spot. otherwise i think earnings in general have been sort of blah. i think there is a lot of stretching. i leave this to michael santoli but when it comes to m&a there are deals that maybe don't strategically make that much

sense. look at the at&t sort of question whether or not they will buy time warner. that deal in my opinion doesn't seem like it makes a lot of sense when they can lease content versus buying it. >> when you say companies are stretching i think there is probably some way to substantiate that. stock prices are relatively high and industries are undergoing disruption. people want to pick their partner. i'm sure they will make the case why it makes strategic sense. does it make $70 billion worth of strategic sense? >> let's drill that into the earnings. not just microsoft and mcdonald's beat. we had coming after expectations had been lowered. a lot of them heading into the earnings season. a look at what is really happening. >> so beat analysts, you go back earlier expected earnings higher than what the latest estimates said and not just those

companies. 23 of 30 dow components had higher estimate a year ago for the q 3 earnings. a lot of market participants know the trends. analysts -- a year or two out. analyst analysts s&p only two thirds of earnings beat estimates of the day before. if you go back 30 days it is 50/50. this quarter seeing actual earnings from 1%. a year ago they already drop the forecast as the quarter gets closer. >> look at how you said we have been running in place for two years. the fact this has been going on in the meantime.

>> it tells me we probably have been fully valued for the past couple of years but there are very few real bargains for investors to get their teeth into. companies like at&t are probably a little bit desperate because they see the future and the future doesn't look like growth for them. they are going into other areas where they think they might be able to get growth. there is not real value creation. there is just value transfer from shareholders. time warner shares were up 7% or 8%. that's what investors expect. it is hard to see what the catalyst base for the market right now. when you don't have a lot of catalyst you don't have global economic growth you have a holding pattern. it doesn't mean the market will fall 25% tomorrow. it means you have to be in it for the long term. >> for some context we are going

to see the forward earnings. it shows lying on forward multiple because those probably have more down side than upside. we were here 17 months ago. the forward multiple seemed okay at 17.5. it was higher because earnings came down. now if we are not destined for five quarters it might not be as expensive. that is the trade off. >> thank you for joining us. at&t is in advanced talks to acquire time warner. shares were up on that news. sources saying the deal above $90 a share and could be announced as early as this weekend. can this deal get done? joining us now is hoffman, former chief of staff. one of the questions analysts raised is you have to start looking to who wins in november and the likelihood of this deal getting done. what do you think the odds are? >> those are all legitimate

questions. first of all, going to be dealing with a newly constituted fcc with the chairman who we don't know yet who that will be. let's assume that it is a hillary clinton administration and i don't see a democratic administration fundamentally turning such a deal away. certainly not a republican administration. let's look at what the real components of this deal would be, competition and distribution and content space. at&t has solidified the position as a distributor and now it is the content play. i think it gets through in any administration, this deal gets through because there is already ample competition in the space. look at charter. look at comcast which is the big play. i think it's a savvy move on the part of at&t to complete the trifecta, if you will. they have distribution.

they have broadband and now content play. so this is a long way away from any kind of regulatory review. i think they are looking at the second or third quarter of 2017 at the earliest and maybe a longer stem after that. >> i guess i would wonder what the components of the deal and strategy regulators might be looking at. our company has content and distribution in a similar way. what about the use of wireless? if you are at&t wireless customer you put an hbo app on there. ways of locking in ways that privilege your own net wworks c. >> that was a big sticking point. we also saw issues with respect to preferring your own content even with the charter transaction. i think that is entrenched in the regulatory landscape so that any provider, any distributor

cannot by law and by regulation prefer or favor its own content. i think one other component we have to look at here is how is this going to impact over the top? how will it impact new independent so-called diverse content creators and providers? that was a big point with the previous merger with the charter merger. i think that will be another interesting element to this transaction. >> let me bring in -- >> the fcc looks at a couple of things. it looks at competition and innovation and looks at the impact on consumers. after looking at this now the very early stage i don't see real red flags there. again, there is ample competition in this market. >> i don't see red flags. we have the washington research group. they came up with the same sort of analysis. i question buying content. is there a reason to lift

content like that? single source of distribution the best way to distribute the content for the content sake. i look at clrm buying twitter. just call twitter and twitter would be happy to sell the data. there is no reason to acquire the company. i look at this deal and say the content is very important but they can license the deal versus going out and buying the company. >> i think the one surprise might be here on the fcc side is if you have the democratic administration and a democratic house and senate or some combination. don't count out the ultraliberal wing just wanting to throw a wrench in the works to show that they can. having nothing to do with the underlying cause. >> briefly, react to that and then we will go. >> that is always a well card. the democratic members of

congress both in the house and senate are always going to land on the side of consumers. i think there is enough in this when you look at the mobile component and broadband opportunities. the main thing here is that will consumers at the end of the day have more choice, more opportunity for more content and potentially lower prices and if the answers to those questions is yes then this goes through. i think this goes through at the end of the day. >> appreciate you joining us. talking through the potential for at&t time warner deal. thanks for your time, as well. we'll let you go. be sure to stick around to catch the rest of the fast money crew. craig moffett saying he knows what the next deal may be. we will have much more on the potential acquisition of time warner. a former executive joins us

next. why businesses may be turning a traditional ly very red state into a blue one this presidential election cycle. you are watching cnbc first in business world wide. grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. and to think this one actually has a surround-sound stereo. the 2016 cla. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create,

not just wealth, but things that matter. morgan stanley

breaking news on another cyber attack. eamon javers, what is happening now? >> the company at the center of the cyber attack on the east coast is a company called dyn. they make the infrastructure pieces that connect i computers to websites around the country particularly affected today through the massive cyber attack that began just after 7:00 this morning. i just hung up the phone with the folks at dyn. they said there is a third wave underway. this is a massive cyber attack. they say it is well planned and sophisticated are the terms they use to describe it and say it is coming from tens of millions of ip addresses hitting servers at the same time. that is a big amount of traffic that is designed to slow down what dyn can do. they also say that they can confirm that one of the sources here is what is called a bot

net. that is source code distributed to internet of things devices. that is a new twist in the cyber security world. internet of things distributed attack. this is a new way of hitting these servers at dyn. they say they are working to mitigate this attack. they say they have been hit by a massive cyber attack. third wave of which is underway right now and say it is coming from tens of millions. >> a couple of questions which come up when people are seeing headlines. how do we intrpterate this? are we under cyber attack or is this viewed as a company-specific problem? does it have anything to do with the fact that we have seen headlines about the u.s. looking to launch a cyber attack on russia? how are we to interpret this? >> it is a little early to say for sure. i talked to folks at the

department of homeland security today and they are not offering any indication now as to who it might be who is doing this but clearly somebody very hosal is hitting dyn servers with this third wave of the attack today. not clear to what end or why they are doing it. it is connect today websites that use the systems or as this sort of spirals out. who is doing it and why, they are just not there yet. the department of homeland security tells me they are aware of this and looking for root causes but nothing yet from them. clearly there is possibility that this is a criminal act or state-sponsored attack. all of that will be looked at. this gives you a sense of what companies have to be prepared to deal with. >> all sorts of vulnerabilities. appreciate it. eamon javers with the latest. let's get back to deal news of the day. shares of time warner searching.

at&t is in advanced talks to buy the conglomerate, time warner closed just below that level and the deal can happen any day now. how likely is it to happen? does it make sense for both companies? let's bring in the ceo of bayworks and vice president at strategy. so strategically, what do you think? >> i came to time warner through the merger. i have a perspective that was very much informed by the merger. i think the bigger picture here is the merger of content and pipes makes sense. we are sitting at cnbc and comcast have proved with good execution it can make sense. whether this deal makes sense is a lot of good questions. we don't know a lot still but you have awesome content on one side and fundamentally wireless

company on the other side. the bet is long form video will be relevant and wireless. i think that if you look today at what is being used a lot of it is short form. so we have to see how that plays out and the execution of a merger this size. last time not so good. but the logic here makes sense. we are seeing platforms or content and pipes come together once again which we see about every eight to ten years. >> i guess from the at&t perspective what might be going on as the company looks ahead at its strategy and its positioning that might look at something like this? in other words, just to be a pure distribution player why is that not enough? >> at&t is in the business of selling traffic over their network. this is another way to diversify that. better growth and better staying power. to the extent that they can sell

that content on the wireless side to broadband and over the video customers, all the better so they can make the customer sticky. look at what comcast was able to do with nbc to the extent they say this makes sense for both of us, work out a deal. as previous guest said they can offer that to everybody else. to the extent that they can make their content it makes sense. >> can either of you give me the case for how value is actually created when there is value leftover after you done paying a premium for a company that already had a big run up in the share price. where does the value come from? does that not get in the way? >> i think the case is all about execution. it is all about how digital

media gets consumed on the wireless device. you can see whether it is snap chat or gifts which are being to messaging platforms or youtube. you don't see it with long term yet. there are few people watching long form content. you have to make that leap. there is a ton of execution because the front end services that people have on their phone that they use day in and day out are not services, apps provided by either of these companies. so there is a talk which is the innovation in the digital media world where people are creating aggregated apps to watch video. >> let me ask this question. give me the case how you look back five years from now and go wow, what a home run at&t hit. in the best case people go that worked out okay. they didn't do too much damage. people go at&t got this thing so

cheap. is that case makeable? >> this is different. comcast bought nbc at a trough multiple, one of the best deals we have seen. this is a much higher multiple. the way this would be a home run is if they can look back and say they took content and they were able to work that in with their wireless and their wire line customers and lower turn or expand the market share. if they are able to do that then this could be a home run. there is still a big question on that. that is if fcc claws back. they are very skeptical of content ownership and distribution being in the same roof. i think that is going to be the biggest challenge they have. hopefully this deal has significant clauses for break ups in case there is regulatory pushback. i think there will be a lot. >> i think the home run scenario here is actually -- you have in

china a platform that has a third of all internet traffic traveling through a single app. and they work together content services, payments, all of this into one experience front end consumer experience. >> a big leap from this deal to that. >> if the fcc does not -- >> there it is. thank you. appreciate it. los angeles, san francisco and new york have always attracted a fair share of chinese real estate money. seattle is the red hot spot. find out why china is taking over. you may want to sip your wine a little slower. world wine output is hitting a 20-year low. find out why and what it means for the price of your favorite bottle later on "closing bell." opportunities aren't always obvious. sometimes they just drop in.

cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. or the freedom to choose what doctor you want to see. so if you have medicare parts a and b, consider an aarp medicare supplement insurance plan,

insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, these let you choose any doctor who accepts medicare patients. you're not stuck in a network, because there aren't any. plus, these plans help cover some of the part b medical expenses medicare doesn't pay. so why wait? call now to request your free decision guide and find the aarp medicare supplement plan that works for you. like all medicare supplement plans, you'll be able to stay with the doctor or specialist you trust, or look for someone new - as long as they accept medicare patients. but unlike other plans, these are the only ones of their kind endorsed by aarp. rates are competitive. so call today. and learn more about choosing the doctor's you'd like to see. go long.

chinese real estate investors have been anything but sleepless in seattle. >> it is a perfect example of how government policy can completely upend a housing market. it happened in vancouver and then trickled down literally to seattle. home prices were overheating in vancouver up 32% in the last year alone largely due to chinese buyers flooding the

market. so in july a 15% property transfer tax on foreign buyers. it went from boom to bust. in early august sales plummeted 75% post tax. where did the buyers go? they went to seattle. i spoke to ubs. he said chinese buyers are flooding into seattle which was already hot to begin with. tight supply had home prices but are up over 11% year over year in seattle. it is still cheaper than san francisco. both income and job growth in seattle are strong. chinese buyers are apparently drawn to seattle because it already has a large asian population and there is no tax on foreign buyers. red fin reports a big increase in chinese demand especially for

single family homes in top school districts and condos with no rental restrictions. that is likely for investors who want to rent them out. >> here in new york i feel like they are missing some of this whether chinese or russians or whatever. >> coming from the other direction. it has definitely cooled off because it was tremendous supply. i wonder how seattle compares to vancouver in terms of how much more capacity there can be. vancouver has building restrictions. what about seattle? >> very much the same. seattle has very limited land and very restricted land because of the wonderful natural habitat. prices are very high in seattle. they are not as bad as san francisco. when you compare it to new york that is a whole other animal. we are talking luxury high end real estate in new york city. that is not what the -- they are

buying the $2 million homes mostly for schools for their kids. >> some new jersey places affected by that, too. time for cnbc news update with sue herera. >> here is what is happening. the airport serving london's financial district was evacuated after alarms sounded and several people complained of trouble breathing. 26 treated by paramedics. the airport has reopened follow ag sweep by firefighters and police. the wall street journal is offering all news employees all over the world the option for a buyout. reuters is reporting internal memo talks about seeking substantial number of employees. the gates surrounding the pulse night club in orlando have been opened today for the first time since the deadly june attack that killed 49 people. a new mural on which people with write mess mgs of hope in the world has been set up.

and prince's vault is open. warner brothers announcing plans to release more music from the late star's collection. thousands of unreleased songs are promised. the first album is due in november. back to you, have a great weekend. >> thanks so much. >> thousands of unreleased songs. the beatles had like 300 songs. prince has thousands of songs. >> constantly experimenting and working on stuff. a democratic presidential nominee hasn't won arizona since 2002. it could happen this year. we will hear from both sides of the aisle next. banks raked in overdraft and insufficient fund fees last year. we will discuss this and how consumers can avoid it coming up. its official, i work for ge!! what? wow... yeah! okay...

guys, i'll be writing a new language for machines so planes, trains, even hospitals can work better. oh! sorry, i was trying to put it away... got it on the cake. so you're going to work on a train? not on a train...on "trains"! you're not gonna develop stuff anymore? no i am... do you know what ge is? ♪jake reese, "day to feel alive"♪

♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪

presidential candidates donald trump and hillary clinton address the issue of immigration in this week's debate but not just a matter of securing borders but is affecting small businesses with just 18 days to go until the election contessa brewer joins us from phoenix, arizona with a look at how the

red state businesses are leaning blue. >> reporter: you know 30% of the population here in arizona is hispanic and their purchasing power is huge, nearly $40 billion. if donald trump were to deport all the undocumented immigrants here arizona would lose nearly $50 billion in economic activity and half a million jobs. and it's not just trump's wall that is not resonating especially with those who live closest to the border. trump's opposition to trade concerns locals that do a booming business with mexico. >> it's definitely concerning from an international perspective. we recently done some business outside of the country tlmpt is a lot of need to do more business outside of the country. it would keep 100% of jobs here. we would be supplying technology and services to other countries. it absolutely concerns me if he became the guy in charge to make decisions and follow through on threats that he has made. i see them as threats and that

concerns me. it worries me and can limit our ability to do that and could hurt our job creation. >> reporter: the head of the republican party told me he is not concerned about how trump's immigration policies will affect latino turnout because he said historically a small percentage of hispanic voters turn out. one recent poll shows nearly 83% of eligible hispanic voters plan to vote in this election. that could be one reason why hillary clinton is up five points on donald trump in this traditionally red state. >> in bright orange, contessa, thank you so much. contessa brewer joining us. let's bring in larry cudlow along with david goodfriend. great to have you both here. immigration is multi facetted issue. but it's become a simple banner

one with the wall and everything this time around. >> look, i think that mr. trump's campaign has not done well in this area. i think border security is very important. that's a good thing. i think most people favor that. i think catch and deport at the borderline. don't let them release. i think that is quite sensible. on the broader issues as the report just said the question of deporting all of them, some of them, will there be guest worker permits i think we could have done a much better job explaining that. i saw a poll at fox news poll regarding immigration. very interesting. first of all, immigration is about seventh or eighth down the list of most important issues. economy is number one. second of all, in rough terms my numbers may not be exactly right but over 70% want legal

immigration or some kind of legalized process whether citizenship or not. only about 20% wanted mass deportation. i think mr. trump is bucking the tide on this. john mccain is going to win easily in arizona. i think it has become a toss up state. >> it seems pretty clear at this point the way that not only the national thing is moving but have a state like arizona go blue is a pretty big deal. is it possible that come election day there is surge, a couple million people go to polls and vote for trump and surprise everybody or do you think this is pretty much a done deal? >> nothing is ever a done deal. people have to vote. i think that polls generally this stage of the race tend to be fairly good predictors. i want to say that i agree with larry. larry, i miss coming on your show. i wish they would give you the show back. it was a lot of fun joining you. >> we will get you on the radio. when your homeland security

secretary we will have you come on the radio. that is a promise. >> i don't want that job. i will tell you this. this is interesting because it goes to contessa's report. i just came back from arizona where i was doing volunteering for the clinton campaign and talking to local reporters and local papers and i got an education because as your reporter said, first impression is this is an issue that appeals to latino voters. that is certainly true. i met a lot of college-educated white voters who said we have heard it all before down here. we know this issue inside and out and we would like to hear sober, real practical talk. look at the two republican senators from arizona, john mccain. neither of them support donald trump. both of them were heavily involved in the compromise immigration reform bill that passed overwhelmingly out of the senate. they're pragmatists. you have to start with border

security. that is true. listen to the employer that was interviewed on your report. there are employers who just want to follow the law. you actually need an e verify system so employers can know who is in the country legally. that is in the compromise bill. >> let me just ask what happens now. we had this issue debated from different points of view. takes office in november or january what happens with immigration reform? >> that's a very hard question because i know mrs. clinton has a good lead and may win. it is not over. the presidential is not over. the house of representatives is split on this issue. i think the senate is more inclined if it lasts is more inclined to make a deal. i'm not so sure about the house. paul ryan would probably make a

deal. one point, david point that you can have border security, i'm not in favor of open borders. i'm opposed to open borders. you can have border security. you can have e-verify and guest worker permits. i don't think that has been made very clear. i think there comes the problem. i don't know this as well as i do. the immigration confusion issue, i will leave it at that, hillary is plus five in arizona, the latest poll from that newspaper. she is plus seven in colorado. she is plus four in nevada and plus seven in new mexico. there was a time in my lifetime and yours when those were republican states. they no longer are. i think immigration has to be one of the issues that turned those states sgm. >> we have to go. thank you both so much. 18 days to go. $11.2 billion, that is how

much banks made in fees last year. what you can do to avoid the fees is coming right up. the greatest population shift in human history is happening before our eyes. sixty to seventy million people are moving to cities every year. at pgim we help investors see the implications of long term megatrends like the prime time of urban expansion, pinpointing opportunities to capture alpha in real estate, infrastructure and emerging markets. partner with pgim the global investment management businesses of prudential. i'm connecting so we can share our amazing trading knowledge. why don't you just go to thinkorswim's chat rooms, where you can share strategies with thousands of other traders?

mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. romantic moments can happen spontaneously, so why pause to take a pill? or stop to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions

and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use. many men aren't aware their health insurance may cover cialis. contact your health plan for the latest information. $11 billion is how much americans spent paying bank fees. what can consumers do to avoid them? what kind of fees? overdraft? what is in this bucket? >> that is entirely overdraft

fees. i'm just trying to get my arms around that. if i can hold that in my bank account for a day i think i would be set. here is the other part of that. many of those dollars are unavoidable and the other part is 75% of that $11 billion went to 8% of banking customers. so it is a relatively small part of the population. >> people are using it whether they intend to or not as part of a line of credit. they are going overdrawn and paying these fees and paying a lot of money for a short term loan. >> not just that because we are talking about insufficient funds, fees as well as overdraft charges which may kick. our point is just a little bit of information and time spent on this issue can help consumers avoid this huge cost. >> lovely graphic there.

>> i'm dazzled by your graphic. we are basically talking -- how do they justify the $35 fee? is there numerical justification or basically stupidity charge? >> i was a serial overdrafting. it would be like $180 because i bought a starbucks, a pen at wal-mart and you know what i'm talking about. >> why did you do that? >> because i didn't know. when you are living close to the line, evan, who is on central park west, this is what happens. now the banks move to a different model which is making you opt in and out of this. how has that changed what happened? >> regulators force the consumer to opt in to the overdraft fee but the other part is there are people who essentially unwittingly or perhaps knowingly allow their accounts to charge

the overdraft fee, as well. so the bottom line is we recommend people take advantage of mobile banking. just about everybody has a smart phone. make friends with that mobile app and sign up for alerts that tell you this is going to be an issue, that it is happening so you can get ahead of it. >> just give me a thumbs up or thumbs down on prepaid cards? >> i'm not a big fan but for a certain segment of the population they are a bridge to the financial system. >> and they are a growing one. thanks for joining us. >> i have to talk to your dad about your overcharging. >> this would happen dozens and dozens of times. it wasn't just me. if you have a bank account that has your summer earnings in it, for example, or going back to school and you are getting a slice of pizza and it was crazy. i guess i shouldn't try to excuse it. >> the number is so big.

>> it's huge. >> i know. wine drinkers may want to rethink their beverage of choice. the potential price impact next. hey, jesse. who are you? i'm vern, the orange money retirement rabbit from voya. orange money represents the money you put away for retirement. over time, your money could multiply. hello, all of you. get organized at voya.com. as long as you love me, it's alright... shape the best sleep of your life. sleep number beds with sleepiq technology adjust any way you want it. the bed that moves you. only at a sleep number store.

calling all wine-lovers. soon you may pay more for the cabernet. bad weather has hit vineyards. how bad could it get. >> joining us is kathryn hall, her new book "a perfect score" how she and her husband went to the elusive perfect score. thanks for joining us at post

nine. >> and you were in politics before that, right? >> i was, yes, i was. >> i kind of want to come back to that. we'll take wine for a second. so what happened to the output? why is it -- is it weather in all this stuff? what's going on? >> actually, the production in the united states is up. so it's worldwide down. but up -- it's up, especially in california. i mean, but we're always subject to the vagaries of mother nature. that's one of the things being in this business teaches you. humility. >> and what about the pricing effect that's having? >> i don't think this is going to have a price -- an effect original on cabernet that comes from napa valley. there are a lot of factors that go into the price, but not so much -- we're not affected -- >> those look like very high-end labels. okay? if i wanted to buy a bottle of your red there, whatever it is. how much am i going to shell out? >> first of all, you've got to get on the list. >> oh, wow! >> no, actually -- these sell out quickly, because our wines are wonderful.

what can i say? and so the one on the right, the kathryn hall, is $160, i think and on -- >> those are very, very pricey. >> i like to think of them as valuable. >> of course. but i read all of the statistics where of all the wine produced in the united states, like on a quantity-basis, like 95% is sold at -- like, under 6 bucks a bottle or something. very, very owe so, like the high end, which is, you know, your products or a lot of what people think of as the wine market is actually a relatively small part of the overall global wine market. is that a true statement? >> it's true. but what's also true is the wine-buying patterns are changing. more and more people drinking up, which is great for people like me, because we're all about top quality. >> it's interesting. when people talk about the dynamics of the industry for generally for wine and spirits, it's actually the spirit side that has been -- i think people have focused more on, increasing trends of consumption of brown liquors and things like that.

has that hurt overall wine -- or demand for the tier of the market you're in? >> actually, not not all. people are drinking more wine, and especially in the united states, and drinking more expensive and better quality wine. so all of that is really good for us. >> okay. so what about -- it's all apparently going up. what about partisan differences? do republicans favor one type, democrats favor another? you know, can we -- can we glean anything from what people are choosing? >> we have not noticed any partisan difference. but i'll tell you, we see a lot of surge in the pinot noire consumption lately. we have two brands, hall, cabernet, and another walt, my maiden name, pinot noire. pinot noire is less expensive than cabernet. we can make a great pinot noire. we only have to age it two years instead of three.

>> there you have it. >> and also that film "sideways." they have had -- all about pinot noire. >> ten years ago. >> easily ten years. >> why are you picking on me? >> the newest movie -- >> it's not the new breast est movie. >> you should read my book, that will tell you why some wines cost more and also why they're better. >> good plug. kathryn, thanks for joining us. we're getting new information on the internet, crippling cyber attacks today. details when we come back.

there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.

thosthey are.sses? do i look smarter? yeah, a little. you're making money now, are you investing? well, i've been doing some research. let me introduce you to our broker. how much does he charge? i don't know. okay. uh, do you get your fees back if you're not happy? (dad laughs) wow, you're laughing. that's not the way the world works. well, the world's changing. are you asking enough questions about the way your wealth is managed? wealth management, at charles schwab.

. we're getting new details about today's wave of cyber attacks. let's get back to eamon javers. >> yeah, hi, kelly. nbc's pete williams talking to a senior u.s. intelligence official today and getting more information on this. the current assessment, according to that official, is that this attack today is a classic case of what you call internet vandalism. the official does not think at this point is any kind of state-sponsored or directed attack. a little bit more information here. it's impossible to say how long it will take to say who is responsible. so u.s. law enforcement, the fbi, department of homeland security, all investigating this. but pete williams reporting now it looks like from their

perspective, internet vandalism, rather than a state-sponsored cyberattack. >> we will wait to learn more, eamon. thank you. next week is going to be another busy one for earnings. visa reports monday, then apple, caterpillar, gm and chipotle, under armour out. boeing and coca-cola on wednesday. amazon on thursday. mike, what are you watching? >> i think mega cap tech gets headlines and consumer reports next week to maybe get a picture of how the third quarter shaped up. >> i think it's not really going to matter what happens at the earnings front. again, i think it's going to be -- in the next month or so, politics, bond market, people trying to look what's going to happen next year. maybe some stuff going on in japan and europe. that's going to be more important than the earnings. >> i was really surprised, the dollar -- we have talked about its strength relative to the pound. the euro is at 108, 109. >> yeah and the dollar index in general toward the top. not happening in the fast way. >> it's weird. the central banks are kind of done. >> we're at the end of the road.

i don't know what happens, but -- >> but what does that have to do with the euro being 108 versus the dollar? >> they can't control the markets any more. none of the central banks. the dollar and the euro are going to go where they're going to go. >> watching that one closely for signs of ripples. thanks for joining us. have a great weekend. that does it for us. "fast money" begins now. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. your traders on the desk, dan nathan, karen finerman, tim seymour and guy adami. at&t in talks to buy time warner. the man all over this developing story, cnbc's andrew roth sorkin. >> we have a deal that could be imminent perhaps before the opening bell on monday. the companies, both sides, working feverishly to try to complete a deal so they can announce something monday over the weekend.