it's going to change some of the equations for business even more than it has already. >> i wonder if this will change our behavior it has not in the past unfortunately, too many of these events -- >> this is -- >> -- in america obviously will go on. >> we have trucks drive into things, now shooting from above. it is really a different kind of threat. >> thank you for watching "power lunch," today, everybody >> "closing bell" starts right now. welcome to "the closing bell," everybody, i'm kelly evans at the new york stock exchange. >> i'm bill griffeth we start with the big breaking story. you've heard it by now, the largest mass shooting in u.s. history. a 64-year-old gunman firing at that music festival on the las vegas strip last night officials say that at least 58 people are dead. more than 500, incredibly, have been injured and we get right to cnbc's jane wells who has been in vegas all day. she joins us now with the very

latest jane >> reporter: guys, we're starting to learn more about the gunman police believe he was a lone wolf who had no connection to any terror groups, but nbc news is reporting that stephen paddock's father was once on the fbi's most wanted list in the late '60s. a serial bank robber once diagnosed as a psychopath and while paddock was born in l.a., his father was first arrested here in las vegas. he had nicknames like big daddy and chrome dome. does that have anything to do with what happened with his son here last night as paddock opened fire from a 32rd floor hotel room onto a concert across the street mowing down dozens of people as you said, more than 500 people ended up needing medical care here's audio of what it sounded like on the first responder alert system [ gunfire

>> what is it? >> i don't know. >> reporter: hear the police radio audio later. the first responder system telling everyone that there was a mass shooting going on hours later this part of las vegas boulevard is still not open people trying to get back into mandalay bay from this area can't. we talked to two guys earlier who were staying here who were on the casino floor last night and had to be rushed out as they came in, they were coming back trying to get their stuff. listen. >> i called the -- my host who basically takes care of me at the mandalay bay, wee hours of the morning, give me a call when they allow me access to get in, get my stuff, actually get my jackpot. >> reporter: how much is your jackpot? >> $15,000. >> reporter: how easy do you think it would be to get several guns into a hotel room in mandalay bay >> apparently it's pretty easy which is sad. >> reporter: all you have to do is show your key. >> yeah, there's no metal

detecters, no security checking bags, but i think after this, they'll probably make some changes. and it will be safer for everybody in the future. that's my biggest hope >> reporter: you afraid to come to vegas now >> no. no >> reporter: boy, that's what the city sure hopes. las vegas based allegiant air is offering free flights to family member bs coming here to be reunited with loved ones, trying to find out where their loved ones are there is a reunification process going happen at the convention center starting at 1:00 local. i flew in from the first flight this morning from l.a.x. on southwest. we left at 5:40 in the morning the flight was packed for a monday going to vegas. most of the people on the plane and the crew didn't seem to know what had happened here guys, back to you. >> okay. what about the other hotels on the strip? apparently, you know, the strip is closed right now. are they -- do they have to shelter in place >> reporter: here. >> what's going on there >> reporter: the strip is closed from tropicana south so this area here, which includes mandalay bay, is where you can't get to

once you get north, the other properties are open. but i have to tell you, there have been all kinds of crazy rumors about shootings today which have not panned out. there was one this morning that there was an active shooting in the luxor. that wasn't true there was a report there was a school shooting. that wasn't true people are very, very on ropicap it is open one reason this part of the strip is closed is they may not have removed all the bodies yet which are right along the strip on the east side is where they had the venue for the concert, it was right on the strip. >> jane, it's been three hours since we last got an update from authorities. any word of another one coming yet? >> reporter: no, they are giving warning, but they aren't always saying when they're going to have more. i think, you know, this is the sort thing where they're trying to determine how many people are actually dead, if the deaths were caused by this or something else we learned earlier that not all of the dead and injured were actually in the concert area,

but perhaps around that area and then there's the issue of these over 500 injuries, one has to wonder how many of those were caused in the chaos afterwards so i'm told that there have been victims that have been sent to five different hospitals there are surgeries going on i mean, some are still in critical condition it has been, you know, 14 hours now since the incident, and we're still -- you know how it is the first 24 hours. you're just trying to learn. things evolve so quickly >> all right, jane, thank you. we'll be checking back jane wells there in las vegas. >> let's bring in our kayla tausche now in washington with the white house response to this shooting kayla? >> reporter: kelly, the white house last hour held a moment of sty lens on the south lawn the president, the vice president, their wives, surrounded by the white house staff, took a moment to remember those 58 victims and offer their thoughts to the more than 500 who remain in the hospital sarah huckabee sanders, the white house press secretary, also said that the president is

receiving updates regularly and constantly, northeast of whimoss happening by chief of staff general john kelly in the press briefing that took place last hour sanders was asked specifically whether the president thought it would be appropriate to offer a policy response as he did about 16 months ago immediately in the wake of the shooting in orlando which at that time was the largest mass shooting in american history she said that then he was a candidate, now he's president. things are different and the nation is still mourning >> there's a time and place for a political debate, but now is the time to yinlt unite as a coy there's currently an open and ongoing law enforcement investigation. a motive is yet to be determined it would be premature for us to discuss policy when we don't fully know all the facts or what took place last night. >> reporter: democrats in congress are already calling for action congressman seth moulton of

massachusetts boycotted the moment of silence on capitol hill today because he said he wants real action to actually come out of this then you see three democratic senators, two from connecticut, who are calling for specific gun control legislation to be introduced, one using particularly color language, senator chris murphy of connecticut saying congress needs to get off its ass and do something. there's minority leader nancy pelosi, the top house democrat, who tweeted earlier today saying, even if you don't get legislation, at least set up a committee. that was her beseeching speaker of the house paul ryan saying it's time for action, congress must create a select committee on gun violence. kelly and bill, we often see this type of response, as sad as it is, that it is now becoming a regular routine after events like the ones that we've seen overnight. whether or not this scale of this will produce anything politically is still too early to be seen we'll see what happens when the president visits las vegas on wednesday as he announced today that he would do

>> all right, kayla, thank you kayla tausche there in washington and earlier today, clark county sheriff joseph lombardo addressed the all-important security issues. >> this is an individual that was described as a lone wolf i don't know how it would have been prevented if we didn't have any prior knowledge to this individual the mandalay bay did a great job of hiring police officers. they had sufficient staffing for the concert. and when this individual decided to fire upon the crowd, which was approximately 22,000 individuals, it's very difficult to manage that size crowd. >> but could this have been prevented with increased security at hotels joining us now are john chote, former executive director of security for winn las vegas. and steve, who chairs the public safety working group at the security industry association. john, i understand that you have direct experience as head of

security for winn and encore are you surprised somebody was payable to enter the hotel with ten rifles and not raise any alarms >> i would say it's a bit surprising but not unreasonable to see how something like that could happen he was a registered guest. he'd been there for a few days prior and, you know, if you just assume that you take your roller bag that you go onto an aircraft with, imagine what you would put inside of that >> i mean, if he had enough -- if he had enough certificates, you know, that he was able to carry that many firearms, would he be questioned coming into the hotel? >> absolutely. i mean, all of the hotel -- >> i mean, it sounds like a naive question, but i'm just curious. >> sure, but this also presupposes is he walking into the hotel and checking in in it a tactical firearm bag that's emblazoned with camouflage or does he have it in a rather large roller kit that, you know, might as well be stuffed with a

dozen of pairs of underwear and bathing suit. >> right, he'd been there since thursday, so thitheoretically, don't know, we're guessing, he was probably going in and out many times, maybe took one each time he went back in there steve, i'm curious, are we to the point yet, do you think, where hotels are going to need metal detectors for people going in and out of the hotel? >> well, bill and kelly, thank you for having me on, they will not have to. there are actually technologies that end users and law enforcement are just starting now to deploy where you do not need metal detecters, but you can actually use visible light cameras together with thermal imaging cameras and actually get in realtime the ability to see if somebody is wearing a firearm or -- >> just not over the weekend at mandalay bay, obviously.

>> yeah, and what's really interesting is that the gaming industry is doing a really great job in accepting in of these advanced technologies, like facial recognition and what we've done over at the security industry association, i want to just kind of make a plug, but not really just a plug, but an opportunity for anyone there that is listening, this public safety working group is available to work on a public/private partnership to anybody that wants to try out these technologies so it's not a question of cost anymore. >> uh-huh. >> it's always a question of cost, or it's a question of regulation i mean, john, how much would systems like he's describing cost and what do you understand is the effort by casino owners to install the latest and greatest technologies like these right away >> so, thank you for the

question the -- look, the great piece that we're talking about, physical security, as opposed to the catchphrase of the past several months which is on the cyber side and in order for physical security, to be able to mitigate physical threats, when they come into any particular arena, a perpetrator has to be there then they have to have some type of a firearm, weaponry, some type of material in order to effect what their end state is technology is something that helps augment security forces. the critical piece is actually having the correct people with the correct processes if place i can only speak -- >> i agree. >> -- with specificity in a very limited fashion, obviously because of confidentiality aspects, but -- >> okay. >> -- i think mr. -- >> i get that. the facial recognition assumes that law enforcement already knows about this person. >> right. >> and what we're hearing about this guy is that he wasn't on anybody's radar screen so he

wouldn't have raised any alarms by simply walking into the hotel, would he? >> agreed. it wouldn't have done anything i think that if you do a root cause analysis on this, it's very simple, which is that if you go back to tsa, they're very, very good at vetting persons that are actually going onto aircraft. imagine an environment where that's all they do but there's no inspection of the bags that go into the belly of the aircraft i don't think anybody's going on that plane flight. the problem, though, is that that's a much more closed environment and something that was obviously readily adopted post-9/ post-9/11. this is one of the critical incidents is what can people put in these extraordinarily large roller bags and other luggage items that now exist you have the boston bombers -- >> john, let me ask you the question i asked steve, what's wrong with a good old-fashioned metal detector both in and out of the hotel i'll tell you why the other reason you want to put something like that in there is to reassure people going to las vegas or any place else that it is in place. it's nice to have these, you

know,er surreptitious programsn place, it's hard to go unless you actually see the ma vechine in place what do you think? >> that's the first, outer circle of any type of security process which is the deterrence component which is you don't take on the appearance of the low-hanging fruit. the metal detector component is great, and i can tell you, again, within certain left and right boundaries that those types of efforts are already in place. at least at some locations i think what this comes down to, though, are it is the detection components which is where it's augmented by technology now, as far as vetting what people bring on to property for their bags, no different than vetting vehicles, which, you know, look at the sheer number of vehicle attacks that we've seen in the last year. and then the number of

pedestrians that are on the strip in las vegas >> so what's your point, john? that this kind of beefed up security is coming or impossible to actually excutecute? >> it's very possible to execute. in some locations it's already being executed as unfortunate, awful as this is to say, largely in the security world, lessons learned after action reports, they're written in literal and figurative blood. >> yep that's unfortunately how that works. all right, guys. thank you. john choate, steve, thank you for your insights today. >> thank you, sir. >> thank you, steve. 45 minutes to go until the closing bell today keeping an eye on markets, meantime, the dow's up 134 points, up 142 at the session highs. we're looking at record levels across -- >> i mean, first day of the fourth quarter, new money is coming into this market. >> we've seen that play out this year. >> yes, we have. >> october continuing that trend.

we got one trader saying the energy sector which is one of the year's biggest losers could be the key to closing out 2017 on a high note we'll break that down ahead. and later, spanish stocks and bonds under pressure at violence erupts between the police and those voters in spain's catalonia region just ahead, we'll bring you the results of the independence referendum and what thvoe te means for the markets. coming up.

stock prices may be higher today, in fact, we're having our best rally for the dow i'm told since september 11th but oil prices are down today on signs of a rise in drilling here in the u.s. and higher opec output a reuters survey finds that opec output rose by 50,000 barrels a day in september, mainly as iraqi exports increase they're coming back online and production edged higher in libya, and in fact, energy stocks have been among the laggards in today's trade in the stock market >> wow, some pretty big moves. stocks still on a pace for a record-setting day, though let's get to our "closing bell" exchange, joining us this afternoon, steve grasso here at post 9 eddie perkin and rick santelli from the cme steve, we're opening the fourth quarter today. as bill mentioned, maybe seeing

inflows here. >> right. >> these are pretty big moves. >> so? you look at what we talked about last week, it was quarter end, month end, adjustment of rotation out of large cap tech, to bill's point, you open up the first day and see energy sort of lackluster performance sthat going to be the horse that rides you into year end? and people when they -- you see the analytics, data points that a good time to invest is the fourth quarter, on average 80% of the time it's higher, 4% is the average. if you look at it, i think it's very healthy that large cap tech really isn't carrying the weight as of late it's been that rotation. materials, financials, energy. so i think it's very healthy for the market upward, higher, seems to resistan resistance. >> eddie, with that in mind, do you stay the course with the groups that have gotten us here to this point or do you look for new opportunities maybe new groups still to lead us higher in the fourth yaquarter? what do you think? is.

>> i think you want to value the -- what's been driving the market in the last month or so is the expectations for tax reform that's helped push interest rates higher it's pushed the dollar higher. that's led to the value part of the market, smaller cap stocks performing better. i think that continue. i think the market is not fully pricing in a tax cut the obvious beneficiaries of that on a year to date basis have still lagged. i'd look for those more domestic value-oriented sectors to invest in. >> rick, overseas we had a lot of violence, hundreds energied in the catalan independence vote yesterday. is that rippling through global bond markets at all? >> a little bit. there's been a little more volatility to the upside in y l yield in some of that spanish paper. also keep in mind there's other paper that's not as good a credit as germany and the boone curve. that's also moving up. and part of the reason may be some changes, perceived changes through some of the microphone activity by the ebc and officials, this morning, i'm

paraphrasing, you know, make markets will be less volatile with regard to the outlook of balance sheet because they'll probably buy less for longer i'm not sure what's kbroiis goi happen on the october 26th meeting. i don't think it's going to lay out anywhere near the specificity we have with our fed on balance sheet reduction think there's going to be a long period of microphone activity. that means there's going to be spread activity. maybe the southern economy's yield widen against the better credit of the bund sovereign rates, good quality has not moved up but not in an aggressive fashion just think, if you'd have told somebody at the end of last year that stocks would be up as much as they are by the end of the third quarter, yet we'd still be ten basis points lower in yield, the end of 2016, usually when you get a good starock market, o get higher rates there's something amiss. all the buying done by the ecb,

bank of japan, bank of england rates are starting to see a sea change there and slowly floating higher. >> and there are those who feel -- i'll name one name, at least, peter that feels as though the fed does begin to unwind its balance sheets slowly in the beginning and picks up pace, he says, look, it's been monetary policy in part has gotten us to where we are in the equity markets can't keep going higher if they're going to start taking it the other direction. >> i do agree with peter, very bright, very cerebral. the problem is for he and all of us that try to interpret the fed's moves, it's not going to be at a certain defined pace the fed can always back up the fed can always say, you know what, we're not going to do this, we're going to change it, x, y, and z. >> right. >> that keeps the bears on their heels. it's going to be impossible to sell this market and wait for one of those unexpected news conferences, or an unexpected bullet point out of miss yellen. >> it all right. eddie, just real quickly before we go, your thoughts on what rick mentioned here?

the fact bond yields are so low, stock prices are so high is that sustainable. >> reporte >> i gragree with rick. the fed may be tightening but the rest of the world's central banks have not been. you have coordinated monetarying easing that's still in place and that puts a bid to equities. >> all right, guys, thank you, all. appreciate your thoughts on today's market action. see you later. 36 minutes left in the trading session here pretty good rally. the dow up 138 points to start the fourth quarter off all the major averages are in record territory right now as a matter of fact. coming up, facebook says it ran more than 3,000 russia-connected ads before and after the 2016 election. it realizes that now and ahead we'll tell you what the company is doing to crack down on those who are violating its advertising policies. and later, it's been nearly two weeks since hurricane maria hit puerto rico and the situation on the ground remains dive we'll head there live to see where residents are still living without basic necessities.

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let's take a look at some of the stories impacting the business world today first up, spanish stocks and bonds are under some pressure with spain's ebex 35 following today amid clashes in spain. hundreds were injured

yesterday's in spain's catalonia region police and voters clashed on the day of the independence referendum 2 million residents, 40% of cat lona's voting population turned out to vote with more than 90% voting in favor of independence. spanish prime minister mariano rajoy called the referendum illegal. the eu writing it would, quote, find itself out the european union. next up, uber's uk boss is stepping down. the news comes as uber works to stay in london after that city's transportation regulator said that the company was unfit to continue operation there and as uber's london drama unfolds, former ceo travis kalanick surprised the company's board by appointing two new directors, ursula burns and former cit group ceo john thain well known around the new york stock exchange as well. >> that's right. sticking with tech, facebook is hiring 1,000 employees to its

ads review team as facebook works to make ads more transparent and tighten regulations on advertiser content. this as lawmakers explore ways that russia they have influenced the 2016 election. facebook shares down half a perce percent, bill. for all the platforms investors have loved is whether having to add all of these people dimini h diminishes the -- >> i don't know if you saw this but the chairman of the senate intelligence committee said that they're going to release some of the ads. in a few weeks here. that facebook turned over to them just so we can get a sense of what they were doing, what kind of advertising we were talking about to sway public opinion that should be very instructive. >> yeah. let's go over to tyler mathisen now, he's got the latest on the las vegas mass shootings today tyler? >> kelly, thank you very much. it is a developing story, the death toll now stands at 58 after that gunman opened fire at the music festival on the las vegas strip last night 515 people have been hospitalized

deadliest such shooting in u.s. history. president trump and first lady melania along with vice president pence and his wife holding a moment of silence on the south lawn of the white house. earlier the president called the shooting pure evil adding the nation must stay unified. the shooter identified as a 64-year-old stephen paddock. he killed himself in his hotel room, apparently, in the mandalay hotel, before police arrived. senior law enforcement officials say he had gambled heavily in las vegas casinos in recent days the fbi says the shooting is not linked to terrorism. >> as this event unfolds, we have determined to this point no connection with an international terrorist group. as this investigation continues, we will continue to work with our partners to ensure that this is factually, thoroughly and absolutely investigated to be able to bring comfort and peace back to this community >> kelly, bill, that's the latest at this hour. back to you.

>> all right, tyler, thank you very much. and in fact, nbc's jay gray has more now from the ground on last night's deadly attack. jay? >> reporter: hey there, bill, kelly. i want to give you an idea what's happening right now along the strip. as you see behind me, we're at the intersection of tropicana and las vegas boulevard. just over this traffic, which is crossing las vegas boulevard, but nobody going south right now on the strip because there's a police barricade here. just beyond that barricade is where the attack took place and it's where a massive investigation is now under way that includes the fbi, as well as homeland security, it includes local and state police. as you move across this area, what you find is all of those law enforcement officials mingling now along the rest of the strip and it's not what you normally see and not what you think of in las vegas, not a lot of people out. those that are, very somber. it's not the party atmosphere at this city is so famous for and

not a lot of people moving in and out of the casinos, restaurants and bars here along the strip. what do we know from the investigation? we know that the man accused, stephen paddock, was actually in his room on the 32nd floor at the mandalay bay hotel and casino for four days leading up to this attack and he shot out two windows inside that hotel room to get two different shooting positions on the crowd below. what led tactical officers to his room was a smoke alarm that was going off apparently because he had fired hundreds of rounds in that room and filled with smoke. you talked about the gambling transactions his brother says this is something that was normal for him. so that $10,000, $20,000, $30,000 a day, that he fancied himself a bit of a professional gambler playing mostly high-stakes video poker. one other thing we know, more weapons found inside his home in mesquite, nevada, and that two cars have been confiscated

again, investigators looking for any evidence they can find bill, kelly? >> all right, jay, thank you jay gray joining us from las vegas with the very latest there. take another break, here with about 28 minutes left in the trading session. we got records on wall street, as we begin the fourth quarter here the dow just off the highs for the session. the s&p, the nasdaq, look at the russell. up 1% today. >> in intraday highs for all of them. a > coming, we're going to take look at what shooting in las vegas could mean for the tourism industry and live events business stay with us when "closing bell" continues.

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the deadliest mass shooting in american history last night is raising new questions about the future of live events. julia boorstin has more for us jul julia? >> reporter: hey, kelly, live nation, the world's largest concert company, which managed the event where the shooting occurred last night issuing a statement saying, "while we are stunned and grieving over this incomprehensible act of violence, we know that this is a moment we must come together to prevent more tragedies like this from occurring." yesterday's tragic shooting at the route 91 harvest festival is the second major attack in a live nation concert this year, after the attack outside arianda

grande's concert in manchester in may take a listen to what this expert had to say. >> vulnerable because there are a lot of people and we know there are going to be a lot of people in a confined space so there are a lot of soft targets, if somebody is intent on making a lot of casualties, concerts are pretty easy. >> after the manchester attack, live nation outlined new security measures for all its events including bag searches. no matter how much venues beef up their security, it is hard to s secure the area immediately outside these venues the attack on the manchester arena was directly outside the venue, and outdoor festivals do bring additional security risks. the shooter last night was across the street. as for the question of whether people will change their concertgoing behavior, in june, after the manchester attack, a gallup poll asking americans if they're less willing to attend events with thousands of people found that 60% said, no, they're not lesswilling. we'll see if the poll numbers

change ahead of the big global events ahead including winter olympics in south korea early next year followed by the world cup in june in russia. >> julia, maybe we can show the figures again. 60% of people said it wouldn't affect them. over time, is this having more of an impact than it will over the course of a month or two >> interesting because gallup first started doing that poll of the 9/11 attacks so if you see a 9/11, 69% said that there would not be any impact on their interest in going to these big events attended by thousands of people and so really an interesting trend to see, but, you know, as of -- as of this past june, 60% say they didn't expect to have any impact on their behavior, so i think this is one of these polls that's going to be redone over time and i'll be curious to see what the latest result of those polls say and also what

kind of security measures we see taken publicly around the olympics as well as the world cup. one thing that's interesting is a lot of these venues do a lot of things they don't want to talk about for obvious reasons but they're all really working with the most high-tech devices and technology to make sure that they're attendees are safe, but, you know, there are some real risks here as we saw last night. >> at least on the margins, it's growing as well, fewer people are going to the mall, public places like a mall, a movie theater, you know, summer box office was suffering this year. >> if 38% of people say, yes, it is changing their behavior, that's a lot. >> that's still a cig carnet numb significant number. >> maybe they start to think about am i going somewhere that's more secure versus less >> julia >> people may think about these events very differently. that gallup poll specifically said to an event with thousands of people. when you think about going to the movie theater, that doesn't feel like an event with thousands of people. you're in a room with maybe a couple hundred people at most.

so i think that there is a sense that these events that are massive crowds are really trying to figure out how to secure the area i did a story earl eaier this y with technology used for live events there are companies putting up effectively force fields around stadiums and arenas to keep drones that aren't imnvited fro flying overhead of those areas and see drone companies that are working to do surveillance from the air. so a lot of different ways technologies are being used here >> and just yesterday, as i mentioned, we were at this nascar race, same thing, it's right next to a casino hotel. >> right i know that one. >> that overlooks the track. the whole point is to say to people, you can have this experience to try to secure an area like that all around, perhaps, bill, that's a place where you could easily put metal detecters in the hotel. >> the only time you get that kind of -- the necessary security is when the president of the united states shows up. >> yeah. >> right then they check everywhere but they don't understandably because of the costs they can't do it on a venue like

this julia, thank you see you later. very, very, very frustrating 20 minutes to go dow looks like it wants to set some new highs again for the day. we're up about 150 points. when we come back, how last night's mass shooting in vegas could affect that city's crucial tourism industry. later, we'll hear from security experts on protecting soft targetsikco le ncerts and shopping malls stay with us i used to love golf. wait, what, what happened? i was having a good round, and then my friend, sheila, right as i was stepping into the tee box mentioned a tip a pro gave her. no. yep. did it help? it completely ruined my game. well, the truth is, that advice was never meant for you. i like you. you want to show me your swing? it's too soon. get advice that's right for you. investment management services from td ameritrade.

welcome back on the first day of the fourth quarter, all the major averages you see there are setting intraday highs the dow is up about 150 points a moment ago, with about 15 minutes left until the close. thesla is sending hundreds o power packs to puerto rico to help with the humanitarian aid effort in the wake of hurricane maria. the battery is an in-home l electricity solution it could help bridge the gap in some areas as for pr wopuerto r to repair the power grid which some say could take several months. meantime, back to las vegas, of course, as we know one of the nation's top tourism spots seema mody has more on the tourism impact at last night's tragic shooting could have seema? >> reporter: bill and kelly,

still too early to tell as to how las vegas tourism will be i78 pact impacted in this tragic event. short-term, x-ray screeners and metal detecters. longer-term, hotels will have to re-evaluate security procedure and whether to copy methods used by many hotels in europe and asia which includes not just security at the door but increased surveillance as well las vegas is one of the most popular tourist destinations in the united states. ranking number six on world atlas' most visited cities, seeing nearly 43 million visitors in 2016, contributing $60 billion in economic activity to southern nevada now, warm weather and entertainment have made las vegas a viable destination for co corporate events as well currently the number one trade show destination bringing in 6.3 million delegates in 2016, that's up. 7% from a year ago. wynn resorts, las vegas sands, mgm resorts, owner of mandalay bay, in focus today.

in a statement released earlier, chairman of mgm resorts international saying "our hearts and prayers go out to the victims of last night's shooting, their families and those still fighting for their lives. we're working with law enforcement and will continue to do all we can to help all of those involved." bill and kelly >> seema, it's interesting you mentioned some of the security in europe and asia, and perhaps it is coming to u.s. hotels as well certainly in a place like las vegas. >> reporter: yeah, exactly, because we have seen similar shooting events that have taken place, not just in mumbai, but istanb istanbul, paris as well. wea we've seen a lot of security measures taken by hotels in those regions to make sure customers are safe but also try to really analyze or review the customers that are coming in, the customers that are coming through the entrance to ensure that weapons are not being brought in >> i mean, i'm glad that they are coming up with high-tech solutions that we don't see or know about, but i -- i'll go back to what i said at the top of the hour, i think we need

things that are visible so there is that intimidation factor in place, and a reassurance to those people who are going in and out of the hotels, whatever the public venue is. >> reporter: that involves security personnel at the entrance, but at the same time you have to wonder how effective that is when a lot of hotels including mandalay bay have so many different entry points. have to wonder whether the hotels have to rethink the architecture and layout of their whole hotel if security is going to be a prior it i >> couldn't agree more seema, thank you good food for thought there. as we head to the close with 13 minutes left in the trading session, holding on to these gains. the dow up 141 the russell is up 1% right now the dow posting its first eight quarter win streak in 20 years, by the way we'll talk to mr. cashin, himself, art today's trading coming up. executives from equifax and walls fargo head to capitol hill next week, we'll talk to former fdic chair sheila bair on what

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welcome back stocks are on pace for a record-setting close joining us to talk a little bit more about the markets, first day of the fourth quarter,

arthur cashin, director of floo operations at ubs financial services. >> the real guy here, not just the animation here. >> yeah, that's right. >> is this about the beginning of the fourth quarter, new money coming in, what do you think is going on here? >> a lot of things going on. it's new money to the new month and the new quarter. seconda secondarily, as i wrote in my morning comments, doug ramsey did a study, september is supposed to be the weakest month, but we have had septembers where we made record new highs. and whenever they were accompanied by highs in the advance decline line, as they are now, the balance of the year was fine in fact, 80% of the time you went higher. so you're getting that going on. and then not to be too cavalier about the terrible tragedy out in vegas, the market has determined that this is probably a lone wolf and a one-off, that there will be no follow-up there's no connect iivity to it.

as horrible as it is, you're not going to wake up tomorrow and see major changes. you put most of that stuff together and some of the old favorites rallying here, we're up at record highs again and it looks like the last quarter is going to be good. >> what do you think, arthur, to flip this around for a second, the impact will be on a lot of retail investors this has been a banner year. if were to end it here s&p up 14% total return. i don't know how many people are it in if we're starting to get to the phase anecdotal anecdotally, talking about more accounts being open. what do you think the impact of this dramatic year so far is going to be? >> so far it's got to begin to make people feel reasonably well pumping money into the system has raised asset prices particularly in the stock market so people should feel more relaxed. what's really going to be interest to watch in this final quarter is will there be an impact of quantitative tightening now, as peter points out, in the

last quarter, it's going to be only a token amount. >> right >> but it hasn't taken -- when we had the temper tantrum, they hasn't even done anything yet, they had threatened to taper markets can react to what they think is coming. >> you know, yields are starting to creep higher here noticing as i get ready for the countdown that the ten-year yield is at the highest level since middle of july, okay at what point does that start to crowd out the equity market, do you think? >> well, i think we've got to get a bit higher you got probably up around 3%, you start to get everybody's attention. 3% on the ten year. >> right. >> i think you'll start to hear that in the conversation more and more. >> that said, interestingly, going back to. what rick santelli just said, we have low, low bond yields, high, high stock prices. that actually makes perfect sense together it's just that, you know, if bond yields don't go up a little bit more than that, does that mean stock prices can keep

shooting higher? is this kind of it for the cycle? if so, what does it mean for financials it is kind of an odd thing to watch playing out here the ten year is not budging. if anything, it should be much higher given the gdp number than it is now. >> i've been doing this for over 50 years and i've never quite seen anything like it, so you're right, it is rather odd. but we'll have to see. right now, europe's doing all right. emerging markets are okay. and maybe they're not going to take away the punch bowl that quickly. so we'll see >> it's what keeps us coming back even after that amount of time thank you, arthur. see you later. art cashin joining us here at post 9 we will come back with our closing countdown in just a moment here. >> after the bell, we will go back to las vegas for a live update on last night's concert shooting and discuss whether companies should be spending more money on security stay with us

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all right. here we go so, we're coming up on the last three minutes of trade here. we begin the fourth quarter where we left off the third quarter. you know, all these traditions, platitudes, we always say, september is one of the worth mon worst month if not the worst month for the stock market we get to october, we all have bad memories of what happens to the stock market yet we continue to power higher. market seems to be on an automatic pilot. all-time high territory as the dow goes up another 146 points 22,000 beginning of this year was the best-case scenario remember, jeremy siegel saying 22,000 by the end of the year. we're already there. we'll see what happens in the fourth quarter technology among the leaders, intel was the best performing stock today for the dow. and energy one of the losers

exxonmobil one of the biggest decliners. here's why on the oil thing. oil down today with more talk of u.s. drilling increasing, opec we saw increases in drilling exports from iraq and from libya. so oil down, but still above that critical $50 a barrel level. and yields continue to creep ever higher. as i mentioned to art cashin, the yield on the ten-year now at a level we haven't seen since about july 25th. bob pisani, back to 234. that takes us back to the middle of july. >> remember, we had the best month for oil since april of 2016 we were up 10% you can't see that with oil. that's a real rarity, folks. that was certainly maybe a little bit of profit taking in addition to quhafs goiwhat was with the supply level. i want to point out the momentum stoc stocks are really big and back again here high data names are back bank stocks moving today. >> as yields go up. >> that's right. semiconductors back big recently here this is leading to the momentum

trade. here's two etfs at historic highs. these are momentum plays mtum, companies that have been moving very strongly in the last several months then the high beta names these are companies that tend to move in the market -- tend to move a little bit more than the market normally will move. these are both at historic highs today. they include companies like boeing and bank of america, those high beta names are doing really well. the one company i would point out today, still not doing anything, is apple still down today >> so if you ask where is the momentum names, they're all up there. you can talk about boeing and j pr morgan, but apple just isn't there again today. that's the one little thing that's been kind of falling back in terms of -- >> we often talk about the volatility that happens after a product launch at apple. this one's been rather unusual >> long time >> this staggered launch doesn't help i'm sure as we still await the iphone x. >> i think you're going to find the numbers on the iphone x are going to be strong, this is me talking because i'm interested in the

iphone x i think that that's going to help stabilize apple obviously, they've been a little bit more of a wobble than people thought here with this introduction to the iphone 8 >> thank you, bob. off to a strong start on wall street to begin the fourth quarter. golfer, stewart cink, winner of this year's humanitarian award at the pga tour winning today's closing bell at the new york stock exchange stay tuned to the second shower of the bell with kelly evans and company. see you tomorrow, kell thank you, bill, welcome to "the closing bell," everybody, i'm kelly evans. after setting intraday record highs across the major averages today, looks like we're setting records on the close as well dow gaining 154 points to close at a new high of 22,559. the first time the dow's closed above 22,500 today it's a better than 2/3 of 1% gain led by intel up 2.5%. the s&p 500, 4/10 of 1%.

that's a new record high for the broad index there. general motors one of the outperformers with a better than 4% increase in the s&p nordstrom down sharply nasdaq composite up 1/3 of % first close above 6,500. a record high. small cap russell 2,000 up 1.25% today. it has been on quite a run of late 1,509 for the first close above 1,500 for the small caps today, also a record high we'll have much more on all of these market moves in just one moment. but first, the day's top story, at least 58 people are dead and hundreds more wounded in las vegas after the deadliest mass shooting in u.s. history. jane wells has the latest from the ground jane >> reporter: hi, kelly just within the last two minutes, they opened up las vegas boulevard here you can see it now people are able to get to mandalay bay and even further north on the strip which i would assume means they have cleared

the crime scene and have removed all the bodies which were on the east side of the strip where the concert was last night the gunman there on the left side of the strip in mandalay bay, all the murder and mayhem on the other side of the street. just in the last few minutes they started to open up the street as far as russell road so people can start to get in and around mandalay bay. now, the effects of this horrific event are starting to ripple throughout the industry, blue man group canceled its events tonight its concert tonight. cirque du soleil canceled its shows and will offeree funds it has been 15 hours since police say stephen paddock opened fire from the 32nd floor of that hotel. across the street, look at this, the 22,000 people who were attending the concert last night, a three-day festival, they say paddock was armed with at least ten rifles. he managed to get into his room. the sheriff says nothing seemed amiss, even hotel staff who went into the room and not noticed anything suggesting he'd been there for more than one night, and here's what the first responder radio call sounded like >> is there a unit down? >> just be advised it is

automatic fire fully automatic fire from an elevated position. take cover >> reporter: all right as you look at the image we have of stephen paddock, as for motive, unknown, but nbc news has learned that he placed very large wagers in las vegas recently, tens of thousands of dollars. not sure if he won or lost other reports he was known here as mandalay as a vip gambler and his father was a bank robber in the late '60s once on the fbi's most-wanted list and considered armed and a psychopath who even escaped prison before being captured again in oregon although he was first arrested here in las ve s vegas. mgm resorts which owns mandalay bay is asking for certified trauma counselors to help, set up a special phone number for victims' families to call. right about now the convention center is starting the process of reuniting families with loved ones, helping families find out where their loved ones are and uber and taxis are providing

free rides for those people. kelly? >> the president ordering flags at half-mast today had a moment of sigh lenlence e today. a las vegas victims fund raised nearly $1 million on gofund me. >> reporter: yes. >> started by the clark county commission chair he says the funds will be used to provide relief and financial support to victims and families and there are many still trying to determine if their loved ones are among them >> reporter: yes there are people who've taken to social media, where is my loved one? again, mgm resorts has set up a number, the police have set up a number, but five different hospitals, it's going to take a while to find them and when there is a call out this morning, we need blood, hundreds, hundreds of local people lined up for hours at blood banks to donate. >> yeah. and as we understand, the need was great. that at least is good to hear. jane, thank you. jane wells in las vegas for us turning to markets now as we mentioned, the markets have closed at a record high today to kick off the start of

the forth quaurth quarter dow, s&p, nasdaq, russell, set fresh highs. here to discuss, michael santoli. david catz, chief investment strategist at matrix sandy pomeroy on set with us, equity income fund portfolio manager at newburgher burman michael, striking how strong broad based these rallies are. >> very much in quarter. when all else is equal, that's what -- what's interesting, what's been going on for weeks, what's coming to the front of the market is the cyclical sectors, ones that benefit from a stronger economy for six months the citigroup economic surprise index was at negative territory, just turned positive today guess what, all those sectors are coming to the front. it seems as if that's the dynamic going on in the markets. all the almanac stuff that says when the market's done what it's done this year, the remainder of the year tends to be pretty good, i think has people, the procrastinators putting money into the market come october

>> the exception might have been energy turned tout be the worst performing sector today. oil was down a couple percent. sandy, what do can you guys make of that? >> well, it looks like oil could be making a cyclical low here. we're sort of interested in that we look at the sectors and market that have performed hosh horribly this year, retail which has been bad and has strk chuuc issues that could be more persistent oil seems to be making more of a cyclical low demand is strong we've seen recent disappointments out of the shales in the u.s. and if we continue to see these dis appoiappoin appoinappointme bode well for energy prices in 2018 so as we look to position ourselves, we try to get more exposure to the energy area. >> michael, some expressed that earlier, since this that out -- >> that's one of the things going for it, right, not just that it has cyclical benefit but been a laggard, been a market where it just rotates, whatever hasn't participated gets picked

up and that's what's been going on in this, very low volatility, grind higher. >> sandy, total is your preferred way to invest? >> european integrated stocks are interesting especially for an equity income fund. run an equity income fund, looking for not only good dividends but dividends that grow over time this one in particular looks like it can benefit from rising energy prices as well so it looks interesting from that standpoint also because the environment for these companies y ies has actuay improved from a cost perspective, oil services costs are down, even countries are thinking about lessening terms on future projects making the future returns for these companies sort of interesting. and so that looks like an opportunity for us. >> and that's an opportunity in energy as i mentioned one of the worst performing sectors on this strong day financials, meantime, were leading the way that they were one of the best performers sector underperforming the s&p on the year. you have a few you like in that sector, yes? >> we do like the financials go back to the election, the financials have done well.

been a rocky road. they started the year off pretty miserabl miserably. the last few month have been better pretty early on in a good period our favorites would be wells fargo and bbt, we also like jp morgan although that's done better thanmichael, where are y thinking about the financials? >> i think the financials are ben dpefiting in the moment in e last couple weeks, three things, started going down, didn't have to go up much -- the fed seems like it's determined to move in december almost regardless of what the jobs number says this week and all the rest. also they've been a laggard group. that's been that benefit of money rotating into the areas that haven't participated so i kind of have felt over the course of this year that they were a little bit overloved. people thought we would just basically be this magical trade for a while. >> they were rock stars. >> i think we're in a phase where they can pick up some ground. >> david, if this sunt gain traction for you, what are the alternativ alternatives, where would you go >> things that haven't done well

this year poised to have a better fourth quarter. talking about energy we like energy companies occidental, exxon, good businesses paying nice yields. consumer staples had a poor first quarter. these levels are startinging to get pretty good dividends, start to trek back into that area. general mills, kimberly clark, good companies pepsi was off today. that's good for president nethe months. >> speaking of pepsi, sandy, equity income, we have consumer staples, where do you guys stand on those >> that's an area we've been a little bit more concerned about just because you're not seeing the growth and they are so impacted by all the destruction that we're seeing with amazon, walmart, is walmart and amazon really going head to head with each other you have the entrance of aldi. we think a lot of these businesses could be challenged here in order to, you know, be competitive. they're going to have to lower prices and that's going to lower profits. >> and michael, perhaps the most notable thing paabout when we s today, had names like general

motors, while amazon was weaker. you put it well earlier, said it's the smaller value plays in lieu of what's working so hard, the big platform companies. to plant a flag in that, all the issues facing facebook, regulatory. >> exactly the faang names and related big growth stocks have been places where people felt they could hide if the economy wasn't really accelerating, and that's getting unwound a little bit here. i wouldn't go overboard. yes, now all of a sudden you have to worry about facebook having margin squeeze because they have to get less virtual and more hands on with their business that is coming into play gm is fascinating. the stock has broken out considered to be a play on the future, not the past because of the electric vehicle stuff na that's been an interesting move to watch kind of a goose to the replacement cycle obviously after the hurricanes. >> that's where we stand on a day where, again, the dow over 22,25 22,500 for the first time. nasdaq over 6,500 for the first time russell over 1,500 for the first

time sandy, david, thanks for joining us. >> thank you. >> thanks a lot. >> appreciate it. the mass shooting in las vegas passing appall around the country, raising familiar concerns soft targets, hotels, concerts, parks, continue to be the subject of concerns for security experts and civil liberty activists. we'll take a look at some of those challenges next. president trump set to visit puerto rico tomorrow after hurricane maria devastated the island we'll head there live to find out just how much progress has beenadinheebldg forts. t ruiin 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. ( ♪ )

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quk bawelcome back we got some newsen to tesla, here with phil lebeau in chicago. phil >> reporter: third quarter deliveries are in. tesla delivers 26,150 vehicles majority of those being model "s," model "x. what's most interesting is the reaction of the market to the number of model 3 deliveries in the third quarter. coming in at 220 that's a little bit lighter than some analysts were expecting tesla saying that the model 3 production was impacted due to what they call production bottlenecks. so it was less than anticipated according to tesla the model 3 production the company then goes on to say, "we understand what needs to be fixed and we are confident of

addressing the manufacturing bottleneck issues in the near term." so, again, tesla delivering a little over 26,000 vehicles in the third quarter. 220 of those being the model 3 kelly, back to you >> all right phil, thank you. quickly, michael, tesla shares only down 1%. >> they are well off their highs, recent highs of 380, so i think people have grown a little bit concerned. look, it wasn't about this quarter but still you have to start ramping up year over year gains in production if you're going to justify where this stock especially now that the incumbent are starting to -- >> all going elect -- this is the trade today. general motors at a recent record, tesla shares down about 1% after hours. we've got news on ge let's get to morgan brennan with that morgan >> reporter: hey, kelly, that's right. a leadership change at ge. effective today. jeff immelt is retiring as a director and chairman of the general electric board you'll recall that immelt

stepped aside ceo. john flanery took over october 1st. immelt going to remain chairman until year's end now we got a press release from the company saying he's stepping aside, flannery is going to take over as chairman according to this release, i immelt's determination that the ceo transition has proceeded smoothly and flannery is ready to succeed him as chairman of the board. also worth noting immelt is retiring as director and chairman of the board at baker hughes, now a ge company lorenzo simonelli, president and ceo of baker h er hughes is goio succeed him. take a look at shares of general electric, they did close the day up slightly higher again, immelt is stepping down earlier than expected as chairman of ge back over to you >> yeah. moving a bit higher on that, too, morgan. thank you. opens him up to do other things here, mike b l, including lead uber. >> slightly accelerated handoff

for the chairman's job ge does not have many ceo transitions. people should keep this in mind. they have long-tenured ceo. >> first one in 17 years. >> 17 years. welsh was 20 years or something before that. they're careful about it yes, given the fact we now know immelt is open to other opportunities makes sense to hand it off sooner. >> all right that's the latest there. now to last night's attack at a concert in las vegas, the deadliest mass shooting in u.s. histo history. eamon javers has more from washington on those protection efforts. eamon? >> reporter: yeah, hi, kelly, that's right the soft target is the security term for the places where we spend most of our lives, churches, schools, workplaces. they're so madingly difficult for security experts to offer any real solutions for in terms of preventing any attack like this because you can expand security perimeters as far as you want, but there's always going to be an area just outside of that security perimeter where people are lining up to go through and that area will always be vulnerable the fbi did a study of

shootings, mass shootings between 2000 and 2013 looking at sort of where they took place, and it's the locations of our daily lives. take a look at these statistics. businesses represented 5.6% of the locations of active shooter attacks in that time period. places of education, 24 plus percent. government 10% open space, 9.4% that's pretty much everywhere we spend our lives as americans it's very difficult to secure everything all of the time and the advice that security experts give you on what you should do individually if you find yourself in one of these situations is also a little bit frustrating and grim pp three things, run, fight or hide the best option you have, run and put as much speed and distance between you and the source of the gunfire, source of the danger as you possibly can they overwhelmingly advise you to run first if you can't run, hide barricade doors if you're inside a workplace or a school. turn off your phones play dead if the shooter is in

the room with you to avoid any attention from that shooter. and then as an absolute last-case scenario, kelly, they do tell you, you might have to fight if you're confronted with an active shooter and there's nothing else you can do. throw heavy objects. get something into that person's face and very aggressively commit to your action and see if you can get that weapon away from that shooter, but that is an absolute last case. best option in any kind of situation like this is to run. tragically, what we saw in las vegas is even running didn't do that much for those people because this shooter had such a vantage point and such a wild field of fire that people who were running could still be cut down as well there's almost no place to run to for those people in the very dangerous zone kelly? >> not to mention the stampede risks as well. eamon, still, thank you very much eamon javers let's talk more about how to protect some of these targets with larry barton, instructor and threat management at the fbi academy and professor of public safety at university of central florida. also with us, lou polo many,mbo, director of a private security firm

thank you for being here larry, what's so chilling what about we saw in las vegas, three options eamon described basically wouldn't have helped you, the shooter was so far away it's one thing in you're in close quarters, could even make the argument for being armed and able to shoot back and defend yourself hide and so forth. but what happens when somebod s somebody's, you know, what -- to me, looked like a couple of blocks away, 30 stories up what are people supposed to do to defend themselves >> well, kelly, the best thing you can do is what you heard which is to run. obviously this was an unprecedented attack to think about the amount of time and effort, even the mentally ill and to commit this kind of act, you have to by fact be a mentally ill individual the amount of time and preparation to get the weaponry in that room to have two different room rooms. this is part of the issue in terms of a challenge for police officers but especially to your good point for the 43 million people that come to las vegas oar go to a movie theater tonight in miami, basic safety one of the fastest things i can tell you, if you're ever in one of these situations, act quickly. survivors, we interviewed

survivors at the pulse in orlando, san bernardino, be you, bill and i talked before the people who survived moved quickly. that's incredibly important. >> lou, one sort of side note, an important side note to moving quickly, though, is the sfam peed ri stampede risk. we can't know what happened in las vegas. even sometimes when there's not actually a shooting, jut tst the threat of it would you recommend to people to case where you are, suggested earlier there should be kind of an exit plan that everybody's aware of if you all of a sudden need to exit quickly without causing that kind of panic. >> is wewell, it's very difficuo teach people not from the law enforcement community or military background to become comfortable with this concept called situational awareness i don't think i want to put the responsibility of safety and survival of events of this type on the backs of our population i think it falls to the private security sector, and most importantly, to the law enforcement community. they have to come in and start

to make better plans and implement procedures that will further enhance the safety of these environments and it can be done >> larry, hotel or casino is in a way kind of uniquely vulnerable in a sense that people freely come and go all the time whether they're guests or not. you don't check necessarily in advance unless they're going to an elevator. are there ways in terms of surveillance, in terms of techniques for trying to have more of a technological awareness of what's going on, be oriented in the direction of looking for potential threats inside >> oh, great question. here's the reality of hotels i've worked in the hotels in las vegas for 30 years the priority of their security for the 125,000 rooms in that city is first the vault, secondly is the information security, and third is the cage. it's about the robbery that's how their security -- that's the architecture, that's the chassis. they do care about the guests. that's obviously the thousands of cameras they're there primarily to watch to make sure that there's no robbery at the property.

you are your own director of security that's why it's important that wemention this so in terms of the hotels, what we really have to do, you just heard this very nicely said, we have to redirect our resources so that we get the properties to be part of the solution. that they rehearse these situations they're more than ready for a robbery. steve wynn's daughter was kidnapped several years ago. that property managed that with great discretion the media was supportive they know how to manage a robbery. it's this kind of opportunistic crime that anywhere, a stadium, a theater, we don't in society have the public/private partnership. i was shocked to hear the mgm admit that they need trauma counselors really you're running one of the greatest largest hotel chains in the world, you should have had those trauma counselors, gone to the ministries, gone to the mosques, gone to the synagogues, known your own eap program this is when we -- >> what's eap? >> -- we look to an employer -- that's an employee assistance program. mgm has that for every employee. guess what, every employer in las vegas also has an eap.

there's where trauma counselors could have come in from los angeles overnight. i'm shocked to hear a great company did not think about some of the basic resources they have can i just mention one more thing quickly? i got this ten minutes ago you'll be the first network to know this. the good people of uber called me to tell me they picked up the perpetrator and girlfriend on september 9th and september 20th, guess where they took them to the mandalay bay. this is a good example where overnight this fell out of fortune. i suggested to uber, you need to call the fbi and give them that information. >> that's what i was going to say, too. >> we need to be better at data collection and behavioral. how are people behaving when they go into a hotel, check into a room what was the story with room service? did he have a do not disturb sign in the two rooms he was renting? there's a lot of this that's monday morning quarterback guess what, we've been talk bing about this for 30 years. let's ramp it up and keep people safe >> lou, you know, you also mentioned that you think the responsibility here falls to the

private sector and law enforcement. what kind of responsibility do you mean by that is there something unique about this instance that makes that a particular challenge or should there have been obvious points at which more, you know, more of a -- which more scrutiny could have prevented this pr happfrom happening? >> i think what we need to do is a bit more proactive and start to come to terms with the new norm we no longer have the luxury of having hotels, shopping malls, movie theaters, churches and academic environments security-free. you need to have armed assets in place to address any type of threat number one number two, and just to mention this, i ran the security for the golden globes for 14 years proudly without incident after 9/11, we implemented a completely different approach and plan with the support of the beverly hills police, the los angeles county sheriffs and the fbi. during the event, and if anyone's familiar with the beverly hilton property, it's a large horseshoe that was used

with a big red carpet to introduce all of our celebrities and publicists and 3,000press people, and basically what we did was we prevented anyone from renting a room that overlooked the red carpet, and in addition to that, we had snipers in place. when you hold the high ground, you control the environment below. we need to be more proactive as a law enforcement community, and in a private sector. not to contradict this gentleman, but i think it's a tremendous responsibility to ask someone to come in and start to profile guests coming into cities like las vegas with the volumes of people. they are not clinically backgrounded nor experienced they're just trying to get through the day themselves we need to be more proactive, spend a little money because we're on a whole different footing here the thing i also want to say to you about this, this event isn't an anomaly the reason it caught our attention is because of the body count. we're at the point in this society where we have these incidents and when there's two or three people murdered, we gloss over them. kind of like what transplaced in

europe -- excuse me, canada. because of the body count, this caught our attention there are ways to protect these environments each environment stands on its own merit. each event in these environments stand on their own merit you need to go in -- >> just ten seconds on your good point, though, about security. and i think it's important, kelly -- >> last one. we have to go. larry -- >> sure. real quickly would be this let's remember, we're not asking people to be behavioral scientists but putting a gun in every teacher's hands or have surveillance cameras in every part of the workplace is not tenable. >> i don't think that's what we're suggesting, larry. i'm not talking about giving teachers guns. i'm talking about giving going into the private sector with companies that have prior or current law enforcement agent who have been properly trained not teachers and not private security people without law enforcement background we've turned a corner in this culture. we need to wake up and address our new norm this isn't the wake-up call. we've had the wake-up call we've just been ignoring it. these hotels --

>> this is the fire alarm. >> -- movie theaters -- that's exactly correct. movie theaters, shopping malls need to invest in armed security excuse me. properly trained and equipped to assess situations spontaneously and neutralize threats spontaneously. >> okay. gentlemen -- >> we've had shootings inside the cia and the pentagon, we can have them anywhere. >> thank you. >> larry barton, lou, that's also a very good point appreciate you being with us we'll take a quick break. when we come back, we have big hearings still to come on capitol hill later this week wells fargo and equifax. we'll talk a little bit more about that stay with us if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have. i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig.

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welcome back let's get the latest details on the shooting in las vegas with sue herera. >> here's what's happening at this hour out in las vegas the death toll now stands at 58 after a gunman opened fire at a music festival on the las vegas strip last night 515 people have now been hospitalized it is the deadliest shooting in u.s. history there were 22,000 people attending that concert las vegas authorities appealing to residents to give blood saying there's an urgent need to treat some of the hundreds who were injured people have responded. more than 1,000 people lining up at one of the two locations in the city in washington, former representative gabby giffords who was grievously wounded in h 2011 by a gunman joined her

husband outside the capitol this afternoon, she raised her fist saying the nation is counting on you. the two say congress must pass legislation to keep deadly weapons out of the wrong hands meantime the suspect, 64-year-old stephen paddock, killed himself at the mandalay bay hotel before police arrived. authorities found at least ten guns in his hotel room including assault weapons. his father was a notorious bank robber who tried to run down an fbi agent with his car in las vegas back in 1960 he was on the agency's most-wanted list after escaping from federal prison in texas in 1968 a still developing story, kelly, we'll keep you posted as events warrant i'll send it back to you >> sue, i was just going to say "the new york times" is reporting he had 19 rifles in his hotel room two on tripods and hundreds of rounds of ammunition. >> right. >> according to an official. >> there's a lot of -- there's a lot of kind of wiggle room in some the numbers it depends on from what nbc's

pete williams has been reporting, depends on whether you're talking about the assault weapons, whether you're talking about rifles so it's kind of still in flux, but needless to say, he had an enormous cache of weapons and the questions out there are now how did he get them into the hotel? but keep in mind, the gun show is coming to las vegas in just a couple of days so there are people who are bringing those sorts of weapons in and out. so, hopefully we'll get it cleared up sometime soon, but it's still really a developing situation out there. >> all right, sue, thank you >> you got it, kelly. >> sue herera. how could this impact las vegas tourism? joining us is rick harrison, owner of gold and silver pawn, leading tourist attraction in las vegas, rick. we're glad to have you with us as a local what's it been like for you today? >> i went to bed early last night and i left my phone in the kitchen so when i woke up this morning, i had over 100 text messages and it's been a pretty crazy day. i just found out that my

14-year-old son, two kids from his school just got -- were shot so, i mean, this was hundred -- it's just not the people who were killed, it's affecting the entire community >> of course i mean, i wonder what are they doing at the schools are they having classes? is it -- what are they doing >> my son's -- he goes to a private school they're all in class today and it's -- it's a religious school so they're talking about it at school it's -- go ahead >> go ahead. >> well, i'm just saying it's something you really, really need to talk about it's when if you lock yourself in your house and you don't want to go out no more, they've won and you just -- i mean, i -- people have to face the fact there is -- there's evil in this world and this was it. and i don't know if this could have been avoided or not but i think the best thing we can do, when we see someone acting

really, really bizarre, call the authorities. >> i know. you wonder because now "the new york times" saying this guy had 19 rifles in his hotel room. they say that there were hotel staff in and out we'll see if anybody noticed anything if anybody did and didn't speak up, i'm sure they're thinking about that now ir it sounds like cirque du soleil and a few things have canceled shows tonight. i understand the concern, but do you think that's the wrong thing to do? >> i think it's business to business what they're going to do it's -- i mean, your last guest was just saying basically arm everybody on the planet. i don't think that's the solution i don't think we -- you know, i mean, we have to carry on. and it's -- it's something we have to deal with in life. i hope this doesn't happen again. i mean, just everyone's got to keep an eye out. if you see someone acting weird, call the police right away it's not one of those things, you know, i don't want to call the cops on him if he didn't do anything, just call them,

anyway >> yeah. and rick, you know, it's hard to necessarily handicap exactly how this might effect, if at all, the willingness of people to visit las vegas, gather in crowds, go on vacation to a place a lot of other people are. we're sitting here a few blocks away from the site of 9/11 attacks to the world trade center and flocks of people come in the immediate aftermath, people say, wow, nobody's going to go near tall skyscrapers anymore. what could you expect vegas built on to a large degree people coming from elsewhere to play, what do you expect the impact might be? >> they won't have open concerts with the -- right in front of the casinos anymore. i mean, we have a lot of other venues they could be at. it's sad, but i don't think that will happen for a long, long time and, you know, the -- i mean, joe lombardo's done an amazing job. i mean, instead of talking politics and everybody that a lot of people are talking, we just need to get everybody --

let's everybody just come together and pray a little bit and get over this in a few days and let's try and come up with a solution after that. i mean, you know, everyone's talking about there was a news report for 20 guns, 30 guns, 10 guns all that really doesn't matter right now. if you know somebody was affected, if your kids are upset about this, talk to your kids. you know, tell them -- that's what needs to be done right now. a lot of talking, a lot of healing then we'll figure out how we can fix it in a few days. let's get over this first. >> yeah, rick, thanks for joining us really good to hear from you >> thanks for having me. >> that's rick harrison of the gold and silver pawnshop by the way, if you want to give to financially, the las vegas victims fund set up on gofund me by the county commission chair, raised over their $2 million goal. next, we'll head to puerto rico, their recovery efforts there and when the island could begin to see its infrastructure

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welcome back started off the fourth quarter

with a big rally on wall street today that set records across all four major indexes the dow up 150 points. it closed above 22,500 for the first time the nasdaq closed above 6,500 for the first time with a 20-point gain. the russell closed above 1,500 with an 18-point game. the s&p added 9 9, also an all-time high. news alert on equifax. >> equifax announcing cyber security firm has concluded forensic investigation of the incident that is affecting the credit reporting agency that potentially an additional 2.5 million u.s. consumers have been impacted by this security breach that happened back during the summer that brings the total number of u.s. consumers that have been potentially impacted, sensitive data being stolen by hackers, up to 145.5 million people so according to this release

from equifax, the newly appointed interim ceo saying that he wanted these results to be promptly released and that, "our priorities are transparency and improving support for consume consumers," that he will continue to monitor progress on a daily basis. of course, this latest disclosure coming ahead of what's going to be three days of testimony by equifax's former ceo, richard smith, on the hill with lawmakers throughout the rest of this week. so, again, equifax saying that their forensic investigation has been concluded, additional 2.5 million consumers potentially impacted back over to you. >> morgan, thank you we'll speak more about this in a moment with sheila bair, former fdic chair get her thoughts on what's been happening there ahead of the testimo testimony. take a look at nordstrom now. one of the worst performers in the s&p 500 today. encountering challenges to go private. toys "r" us may to be blame. share down 6% today. "new york post" reporting the high-end retailer has been

unable to severe financing for a deal because the toys "r" us bankruptcy has been causing anxiety in the narcot the marketplace. reporting that leonard green would provide nordstrom family members with $1 billion in funding to take the store chain private, michael. >> i don't know if it took the toys "r" us bankruptcy declaration to inject anxiety into this area i mean, toys "r" us, over a decade ago, it's known to be kind of a zombie in terms of the capital structure but the potential for take bing nordstrom frist has beprivate, retail deals. >> as hot as the credit markets are -- >> they're areas they don't want to touch exactly. up next, we're going to have more on the las vegas shooting tragedy. cnbc's jane wells is in the shadow of the mandalay bay hotel in vegas we will get the latest meig bk.wets from here when co rhtac ngs season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to

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so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. las vegas has more hotel rooms than any other city in america. and now those hotels face new challenges in the wake of last night's deadly mass shooting from the 32nd floor of mandalay bay. jane wells is on the southern end of the vegas strip with that hotel lies and joins us with the latest now jane >> reporter: hi, kelly the police are supposed to update us around 3:00 p.m. local with new information, but new details do continue to come out, for example, the "ap" is reporting the gun flman's broth claims he was a multimillionaire who was a real estate investor

"the new york times" is reporting as you said that he had 19 weapons in his hotel room at the mandalay bay behind me, two on tripods the sort of amazing thing, as we showed you pictures of what the hotel window looked like when it was knocked out. this is where he set up apparently the guns with his sites on tripods we saw that as we were landing from our plane this morning at las vegas airport. 19 weapons which he managed to get into this room the police say hotel personnel were in there, housekeeping, room service and presumably didn't notice. that is the sort of thing that every property up and down this street is discussing today what to do to make sure that doesn't happen again and is certainly on the minds of patrons like shay davis who was a bit bedraggled when we found him today. he was forced out, had to fend for himself and was trying to get back in. how easy do you think it would be to get several guns into a

how he hotel room in mandalay bay >> apparently pretty easy which is sad. >> reporter: all you have to do is show your key. >> yeah, there's no metal detecters. there's no security checking bags but i think after this, they'll appreciable ma appreciab probably make some changes and be safer for everybody in the future that's my biggest hope >> reporter: well, we will be staying at mandalay bay tonight. interesting to see what the situation is like in there. i know one hotel team which mass been meeting to reassess its policies do you put up metal detecters in vegas, do you check bags is that really going do wto worn a place like this? in the meantime, all kinds of companies trying to help out, americanairlines waiving change fees here. allegiant air offering free flights to families and victims trying to get here and get home. back to you. >> it all right. doing what they can at this point. jane, thank you very much. our jane wells. president trump is heading to hurricane-ravaged puerto rico tomorrow then he'll be going to

las vegas. up next, we'll go live to puerto rico to see what kind of reception the president may receive after entering into a war of words wh itthe mayor of san juan over the weekend, when we come back

president trump is set to visit puerto rico tomorrow as the island struggles to rebuild. contessa brewer is there with the latest >> reporter: kelly, there are still problems with the supply chain. there are still long lines at the atms here and long lines at the gas stations island-wise as well almost 70 percent of the nation have fuel up and running some have lifted the ration

limits food distributor plaza provisions is moving food and water to walmart and costco, many others. it has so many big orders, though, that it says it can't fulfill 16% of its trips today, even though it's operating on a 4:00 a.m. to midnight schedule electric power still a big prong. unbelievable damage driving the island this weekend. crews are working on transmission lines, but right now only 5% are connected to the grid lufthansa sees the lack of water and foos, communication as a big problem. the airline flew in 80 tons of good from frankfurt to keep its nearly 400 employees at the airline facility going here. it's a repair facility they're still waiting to fully account for all their employees. i have to tell you, throughout this island, i saw so much self-sufficiency and teamwork, and just a personal taste of what it's like to be out and

about. my photographer victor came to the island not knowing whether his sister, living in their childhood home was even alive. watch what happened when we finally went through the town where she lives. >> oh, my god! oh, my god jr. i have three letters for you three, sending help, help help help oh, my god oh, my god, it was terrible. >> oh, my god. >> it was terrible, junior it was terrible. >> were you alone? >> i was alone with my dog inside the house the house trembled, we saw the cyclone and everything it was like -- look at it. >> i'm looking at trees. >> what trees? it was like -- >> reporter: you know what there are so many people hoping

for a similar reunion, too we're hearing from them on twitter. thee asking, did you go through my mom's town? what does it look like so much desperation for communication here. >> we've heard stories like that around here, too we were glad everybody was okay in that case contessa, thank you very much. contessa brufr for us in puerto rico the former ceo of equi -- and sheila bair tells us what to expect from that three-day testimony, after this. what started as a passion...

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welcome back news from equifax just breaking. cybersecurity firm mandian found 2.5 million additional u.s. consumers may have been impacted that brings a total to 145.5 million, top execs from equifax, including rick smith, former ceo, will head to congress to try to explainened and maybe defend the hack. sheila bair is former chair of the fdic thanks for your time. >> happy to be here thank you. >> number of people affected the sense that somehow the executives are somehow getting

off scot-free, we may see a lot of demands for claw backs, do you expect equifax have to do that >> it seems completely appropriate. the board has said they are considering it let's hope it's meaningful i think he's going to have a rough time, as you might expect. i read his testimony earlier today, and i think he's striking a good tone. thinking back to john stump a year ago, he's not belisling his employees, but thanking his employees, supporting his team i thought really striking a very humble tone. he made a lot of commitments about improvements in security let's hope that's all right. these government investigations will determine how much they have helped here and made progress, but overall, i think, you know, it's a bad situation they're probably making the best of it that they can. >> it's become common to heard the credit reporting agencies referred to as an unregulated piece of the financial industry,

even though they're at the center of a lot of it. >> yeah. >> i wonder -- there's obviously hose scores can be used, but is there anything more to be done >> yes, and i think thisunder scores some of the issues. there are in oversight in terms of how they interface with customers in terms of reporting, making sure when they report their credit that it's accurate, and way toss correct that when it's not accurate. that's been a problem in the past but the primarily focus, especially for the cfpb has been in that process, looking at them in terms of data collectors, holders of large amounts, obviously very sensitive financial information about million of people has not been a focus, not a clear mandate they're not a regulated bank regulated banks have layers and layer of guidelines and requirements and multiple lines of defense, and supervisors coming in and taking a look, so i think more bank-like

oversight, at least on that piece of it really would be -- i think we also need to empower consumers, too i think they did take a big step in the right direction by announcing this credit lock and encouraging the other two do do it as well this is nod a credit freeze, it's a credit lock you have your credit report locked up. they can still sell your data for marketing purposes, so maybe we need to figure that out, too, but that's a good step in the right direction. >> thank you, sheila that does it for "closing bell." "fast money" begins right now. >> i am brian sullivan in tonight for melissa lee. tragedy on the strip 58 people killed more than 500 injured after the deadliest mass shooting in history. more questions remain than answers. we'll have details from the ground as they develop. th