arebeginning to take a little bit of bite out of that. prices have gone up. now you're seeing interest rates go up so the carrying cost on homes goes higher as well, and, obviously, refinances are down >> it's all about the monthly payment, and higher interest rates bites into that. thank you for watching "closing bell" starts right now. ♪ >> 2.941 on the ten-year it's creeping right up to that level. >> back up to geez >> welcome to closing bell, i'm kelly evans. >> i'm scott griffeth. the dow was up 303 points after the release of the fed minutes at 2:00 eastern time and all kind of other market moves occurred, but now they moderated since then i'm guessing that computers move the market after the headlines hit, and humans brought them

back again, but we'll confirm or deny it later here >> yeah. the dow's gains up 138now, and still across the board, half a percent higher, russell up more than 1%. bob has more on market reaction, and kayla is in washington with the highlights from the med fins, fin minutes. >> they acknowledged stronger growth than previously forecasted, but said its policy of gradual rate hikes would sustain the growth saying that strategy remained, quote, appropriate. one reason for the stronger growth outlook was the enactment of tax reform. minutes note uncertainty among several members about whether the corporate tax cut results in business and capacity expansion, but noting that it's the early days of companies deciding how to allocate those savings. as for inflation, the fed is shooting for the 2% target in the medium term and said a lower dollar spurs inflation, but participants noted signs of a broad based pickup in wage

growth keep in mind, the meeting took place in the end of january before the most recent job report showed that strong wage growth, and then the market sold off in the wake of that report fed members, though, forewarned about imbalances in the market beginning to emerge, raising caution about high valuations and high leverage. chair powell's first meeting as chair is not until march, but will address congress twice next week weal see we'll see if he addresses potential imbalances guys >> anxious to hear thank you. more on market reaction of the minutes with bob pasani back from vacation. what do you think? i mean, you get this major pop and we come back >> back on vacation is what i think. >> all right >> here's the problem. take a look. it's confusing. s&p 500 moved up 12 points over a course of several minutes, moving up 12 points right after the minutes. we came down 10 minutes ago.

it's a complete round trip the problem were the yes the initial move on yields and for the first several minutes, it was not 20 seconds to the downside, and then the yields moved to the upside. same thing with the dollar the dollar initially weakened and then eventually reversed what does that mean? i think kayla's comments are accurate initially, comments were perceived to be dovish the fed said few signs of wage growth that's what everybody cares about. is there inflation you'll see it in the wage growth the discussion afterwards was everyone understood that the fed meeting occurred before the jobs and the wage report as well as the budget that came out that, of course, the budget was significant in adding to the deficit. wage growth significant, and people felt if the meeting was held today, the fed would be a little bit more, shall we say, hawkish, than they were on january 31st when the -- that's

my explanation guys, back to you. >> thank you the nasdaq outperform other major averages lately, it's been -- almost completely regathered territory from the selloff. dom is at headquarters for names that drove this rise >> just a handful of stocks within the s&p 500 technology sector that recovered all losses from the recent market selloff among those tech stocks that hit record highs at some point today, you have the hottest semiconductor stock of them all over the past couple years, we're talking nvidia there's salesforce.com and adobe and intuit and cognizant technology solutions, so those stocks really hit record highs today trading today. as for the megacap drivers of the overall market, some notables are getting close to recovering some of their recent highs. we're talking about microsoft, apple, and google parent company

alphabet, each between 3%-5% or so away from their own record highs. while they are technically not technology, it's worthy to note amazon and netflix are close to record highs as well it's not all bullish some of the stocks that are ways away from the 52-week highs like chip makers, texas instruments, ibm, and amd they are well below 52-week highs. put it in perspective. the tech sector overall is neck-and-neck with consumer discretionary for the best performing s&p 500 sector in 2018, and also the most important because it's the most heavily weighted in the s&p. back to you guys >> all right, dom, thank you very much. look at this dow's up only 72 points right now, coming down from a 300 point gain >> nothing to do with computers. bob pisani subtly disagreed with me >> joining us to talk more about

the markets, cnbc market trader on set welcome, guy, and ian from web bush securities, welcome to you. these are a lot of changes since the minutes came out people still trying to make sense of what happened >> i do. first of all, great to be here i'm not here that often. thanks for having me >> you should see the guy -- >> like a mayor here >> such a rock star on the floor. >> stop. >> the only time i see this is when the swim suit models come by >> that's not me i think, i talked to a few of the guys, and the fed minutes came out and said, you know, forget that wage growth number from a couple weeks ago. that spooked the market. they backed off on that. i think that's why the market took off the way it did because a couple weeks ago good news was bad news and then good news is good news. wait, someone's talking about it interest rates go up fed is absolutely in play. i think that's what we see now >> just as you speak, the ten-year is 2.95%. ian, after the minutes came out

or before -- let's say we were at 2.90 pretty much flat now we're talking about a sizable move, 2.95 do you think that's responsible for the giveback in equities we are seeing what's your takeaway in. >> it's 100% the reason we are seeing giveback in equities. we are clearly entering a period where there's more and more uncertainty, and as rates go up, it's becoming more and more attractive, and that there is no alternative argument that everyone relied on for eight years becomes incrementally less attractive with each point the yields go up it's a logical quantitative reaction, and you're seeing some asset allocation that will take place as bond yields go up and move out of stocks >> you know, guys, the volatility a couple weeks ago was attributed to or blamed on the fear of inflation and high yields, which are the same thing essentially, so the yields are going up do you believe inflation is headed our way >> well, i think we have

inflation in all the wrong places, quite frankly. the fed inflation in place, health care, energy, education, for example, they can't get inflation where they want it it sets up for a very difficult -- how are they going to thread the needle they did a masterful job for seven years, but as brian sullivan said, the market tests new fed chairman his first day was monday down 1,000 dow points >> right >> they'll test him into this year, into the spring, and it's interesting to see how it plays its out. i'm of the belief, and kelly knows this, i'm not a fan of the fed. i'm on record saying that, and i'm hard pressed to believe the exit strategy they perceive to have will, in fact, be market friendly >> up 43, 41 points on the dow now. ian, let's say we breakthrough 3%, could happen any moment now, you mentioned this is a lot of kind of quantitative selling off because equities look less attractive may be the case for the trading session today or tomorrow even,

do you think that's the case for the year, though do you look back, like, it was good news, good economic news, it was strength, not a big deal for stocks >> know me i love bill, but i could not disagree more. it's not related to inflation. it's fears of the u.s. government and deficit yes. when i think quantitative funds do not see it as a one-day event. if bond yields rise, people continue to ask themselves, why? i don't see -- >> why would the deficit -- and i take the point on that completely >> i don't >> the dollar's been weird, and in defense of my good friend and colleague, why would the deficit all the sudden in the last, you know, hour and nine minutes be forcing stocks back in the red and pushing up rates >> well, again, it's -- today you can call it whatever you want to, but, to me, the move from 2.4 to 3% right now is largely based on the fact that we decided to blow out the deficit and people are getting

very concerned about that. i don't think it's inflation thanks to amazon.com, i don't know if there's ever going to be inflation again. to me, it's more of a lack of faith, plus uncertainty around the fed that's causing bonds to sell off, and that's what you're seeing >> all right before we go, put your technician hat on. >> wait a second - >> go ahead. do you have it >> yeah. >> we could go negative any moment let's talk news for the market >> for the technicians out there. i have to point one thing out. the all time high in the s&p, 2872, give or take that trough friday was 2531, give or take the levels now at the s&p is effectively a 50% retracement or correction of the entire move, so, yes, today matters in a major way with 50 minutes left if we close significantly in the red, there's a lot of armchaired technicians saying today is the day we are headed back lower >> some say we need to do. >> tony is one of those peopl wt

retest the low i can't believe we can have that tidy a correction and not retest at some point in the nearby future >> thank you, guys >> i'll be floating around here. >> that's true >> ian, good to see you, thank you. >> always good, thank you. >> even though i disagree. >> 49 minutes to go. speaking of pinatas, the dow is up 303 points. after the fed minutes came out, gave it back and then some, now down 28. >> the closing bell is just getting started. next up, two crucial numbers that may tell the tale of what the spring housing season looks like plus, one frequent cnbc guest with a unique trade he says is set to move higher this is "the closing bell" on cnbc, with kelly eva ansnd bill griffeth, live from the new york stock exchange

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here is what i love about markets, interesting day, but so different from the other interesting days recently. 2:00 is when the fun started, eastern time, with fed minutes

coming out, and stock market took off, and the dow was suddenly up 303 points the yield on the ten-year was 2.95, taking wind out of the sails of the equity market, and look, the dow was down 30 points, now up 17, and other major averages are struggling to remain positive right now. >> as well as the home builders. watching that sector into the close here after a double dose of housing data this morning, too. gives people a lot to think about as the spring home buying season starts here up a third percent now here's more. >> reporter: kelly, a big surprise in sales of existing homes, and not a good surprise january sales dropped over 3% for the month, and we're down nearly 5% compared to a year ago. that's the biggest annual drop in three years the problem is not the demand, but supply, down 10% from the year ago, and it's not all supply, it's entry level affordable supply. take a look where sales are falling. all on the lower end of the markets. steepest is homes priced under

$100,000 still down, though, between 100 and 250,000 homes. homes gaining on the high end, but half of the market is on the low end, which is a problem, especially because these numbers are from deals made before mortgage rates began to rise now, rates are up more than half a percent since the beginning of the year, and they are still headed higher. mortgage applications dropped again last week. we are on the verge of testing a new annual low in mortgage appations to buy a home. not a positive sign for this spring housing market. new entry level homes are sorely needed, but builders say construction costs are too high to do much there, and now the realtors say investor who bought all foreclosure homes in the recession should sell, but rents are still high not a chance of that, kelly. >> interesting they put pressure on them now to -- american homes, diana, and the rest of them, turn the rental properties

in they are doing well enough, i wonder if the investors would support that too >> reporter: well, why would now want to sell if you already put not only the money into the homes, but rehabbing the homes and into management infrastructure, which is going really well, and you have lots of good income streams why sell doesn't make any sense >> unless -- well, unless the demand is so high you get a bidding war -- but that's highly unlikely >> reporter: yeah, i mean, you could get a higher price for the house. >> exactly >> reporter: yeah, i don't see it when you have a long term income stream. >> i had the bad habit of locking in a mortgage, and this literally happened, locked on a mortgage on wednesday, and thursday, rates started dropping precipitously. >> we got kind of lucky. >> yeah. i mean, anybody who bought a house in two months feel good as rates go up here >> as my parents remind me, so low by historical standards. >> absolutely. >> not anything like what they dealt with >> first rate was 16.58%

>> oh. >> anything is good from here. >> thank you >> reporter: thank you as we prepare for the spring housing market -- and -- we have -- temperatures in the 70s today here in new york city. unbelievable >> to be outside >> barely positive right now, but we've had tremendous volatility again today the dow was up 303 points after the fed minutes came out, up only nine right now. up next, walmart off its worse day in 30 years after posting an earnings miss. shares down again today, even when the dow was up 300 points walmart was down 2%. we'll talk with a top analyst about what the world's largest retailer needs to do to regain investor confidence. later, one company reporting earnings after the bell, jumped neef ar 60% who has after "closing bell" returns.

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welcome back going negative again on the dow, down 20 points after being up more than 300 an hour ago. here's the sectors of the s&p 500 so you can see what's going on here. interestingly, financials are still leading the way with a half percent gain. >> rates are up. look at real estate. that's the weakest of the -- >> biggest decliner. >> you can see that just by looking at that, utilities red now too. walmart's down sharply today, worst performer of the dow two days in a row. stocks taking a hit on the

slowdown in online sales yesterday. >> walmart down 2.5% on top of yesterday's 10% drop able to compete against amazon, hitting $1500 in the session for the first time let's ask. the selloff, you see a company, okay, they are whacked 10%, rebound the next day walmart is still lower, head of commerce denying he's leaving. why do you think investors are nervous here >> i was surprised they were nervous. the release was fine, yes, only 23% growth online, and they toll us it would be up 40 again this year, though, and i believe when they say things like that, and then they really only missed on guidance for next year by 10 cents, really all tax rates. analysts had a better tax rate than walmart says they will have that was an analyst miss, not a company miss it's now 12.5% on the company

stock price? rumor this morning, of course, that mark lori was leaving, but now they said that's not true, and i think that would have hurt the stock, but i don't think that's true, apparently, so i don't know i think it's a bar gin now >> well, don't you think, though, that walmart last year became a momentum stock? i mean people looked at those growth numbers in the online sales category, and they were just booming, but then this one comes out, and now suddenly it's not a momentum stock people are bailing out here. >> 40% growth online was only on 4% of the business hard to imagine they thought walmart was a growth stock based on that. now 96% of the business in-store is up 2% store for store, good as it's been in a long, long time they had 14 quarters in a row of store sales. i think they're performing as well as you expect them to i think the stores look the best they ever looked in the 50 years i've been looking at them.

i can't imagine they are worth 10%, 12% less today than two days ago >> you're a buyer here, but what do you think would be more of a concern? what would impact -- they are investing quite a lot to ensure the e-commerce initiatives work. that's 4% of the business. is that too much hurting their gross margins? what's your concerns here? >> same concerns everybody does. compete with amazon, you have to be online, being online costs a lot of money, being online has low returns, and more of the business will be online going forward percentage wise than it is today at a lower return mark, butdidn't we know that two day ago as well? i don't think any of this is new. the only thing i heard that was news to me was the 23% growth in the fourth quarter when people wanted 40 or 45. >> they got 50 the quarter before that. >> pardon? >> they got 50% growth the quarter before that, so literally it was cut in half that's my point.

it's a very fine line, momentum players into a stock, the moment they sense momentum shifted, they are out of there. don't you think that's what's going on here? >> i don't try to guess the market or the triggers, but i understand what's going on with the business better than any of them do, and the business is working as well as it's ever worked and ever going to work, so if this is not enough toget you to buy it, you're right, you shouldn't own it, and i'm telling you, this thing's working pretty darn well >> i'm just thinking about the one other little detail in there was about their warehouses, january, and how because they had to get more e-commerce volumes through for the holiday season, they couldn't put toilet paper in there that people wanted to buy. does that point to the need for more investment to bulk up warehous effectively? >> growing at 40% a year, you have growing pains and have to spend money to fix those things and have choke points when you have a big quarter like they do

in the 40 quarter, and, yes, picked that? sure will they fix it yes. it's walmart they fix everything. they'll go forward and do it better next time that'll cost some money, but, still, walmart is an enormous machine with cash flow and can reinvest in the business they are not capital constrained. they have great credit ratings only problem with walmart is they compete with a guy with zero cost of capital that nobody cares if they make a dime. >> so far. >> so far. >> what could be wrong with that thank you very much. >> thank you >> in defense of walmart reminds me of, leave walmart alone. >> right we are seeing gains and losses here, dow with a tiny 3 point gain, nasdaq up 31, nearly half a percent same for the russell today could facebook's fake news be a boom for snapchat. why sthey upped the price targe

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welcome back we have a news alert now on google's youtube division. julia borsten has the details. >> bill, youtube admitting the

algorithm failed after promoting a conspiracy theory video of the florida shooting they said it never should have appeared base there was footage from an authority news source. it was declassified, removed from trending and youtube for violating the policies we are working to improve the systems moving forward, and, bill, and kelly, it's worth noting youtube says humans don't train the trending tab, but the algorithms >> the "wall street journal" reported twitter had fake news driven by the same russian bots that everyone's obsessed with over the election, saying walmart poisoned people with turkey the story that was completely false. this is just going to add to so much more heat on twit african-american twitter and google >> all three companies made a big point of the fact they are trying to crack down on fake news in the systems. the problem is, they can't have

humans review everything youtube explained that it has humans help inform algorithms trying to review videos, but if people are watching a video over and over and over, they identify it as trending, even if it's not real news. for lack of a better way to put it >> but we're sensitive now to a lot of this. >> yeah. i don't know if that's enough. you know, like, if you're aware that what hypi'm seeing may or not be true. >> you need skepticism >> you do, but the fact there was real footage included in this video was sort of throwing off the algorithm. they try to tweak it just because there's some real footage included does not mean it's necessarily real news or authoritative. this is going to be a process where youtube and others reiterate to ensure they are doing everything they can to crackdown on all sorts of fake news they are under scrutiny from this from consumers aregulators

>> as well as they should be thank you, julia boorsten. time for a news update, morgan >> this is what's happening at this time. hundreds of students rally for gun control legislation outside the state capitol in tallahas e tallahassee, florida, demanding to be heard and demanding change >> you adults have failed us by not getting a safer place for children to go to school, so we, the next generation, will not fail our own kids. we'll make this happen >> and the "washington post" the parents of the first lady have become legal permanent rez r-- residents of the u.s they likely relied on a process that president trump called chain migration and proposed eliminating. crypto currency site sold three bitcoins because of a system glitch

they agreed to nullify transactions and the company is negotiating with the last person one user said he was able to buy 20.4 trillion with a t worth of bitcoin for nothing during the period that's the cnbc news update at this time. back to you. >> morgan, thank you very much investors ride out the latest up and down, dow up 54 now. there's new notes detailing performance over market volatility and where stocks head next leslie picker has that >> reporter: the theme here is mean reversion, and it's about mean reversion in performance, einhorn saying one big growth will be out of favor and value will be in impaul singer's case, it's about reversion in the markets, essentially, the markets have been creeping higher, but will soon crash downward.

einhorn speaking for green light reinsurance business today called the 5.5% declines in january the firm's worst ever underperform the s&p gained 5.6% in the same period the prior worst performance came in march of 2000, which was a similar environment. >> while the environment remained difficult with growth stocks accelerating their outperformance against value stocks this year including february, we think reversion may be finally coming soon >> he's hoping this year will coincide with some changes that will help turn around the portfolio thanks to tax cuts and rising interest rates. elliot management's letter, on the other hand, circling for a few days now, is a continuation of the firm's warning about a potential crash on the horizon the firm led by paul singer pointed to debt levels, growth of passive investing, low interest rates, and the

confidence in volatility selling strategies as the key signals of risk guys >> yeah. and selling of risk just blew up in a major way >> it did. >>less leslie, thank you leslie picker. >> tremendous volatility this afternoon, just in the last hour and a half, signaling a dovish fed from the previous meeting. the dow took off, up 300 points, but at the same time, the yield on the ten-year up to a four-year high around 2.95 back a little bit now, but the dow has now retreated a great deal shawn is here from wittier trust, and peter costa from empire executions is here at post nine. rick santelli, starting with you at the cme in chicago because it would appear it is the yields and treasuries there and that bump up that caused this volatility in the equity market there.

what was going on? what do you think the treasuries heard in the minutes that pushed them higher? >> see, i think the treasuries are in a world of their own, but i do think that the stock market didn't like what treasuries did. i think there's a way to actually prove it, bill. let's look at intra-day of the dow chart, okay? now, if you look at this chart, right exactly at 2:00 p.m. eastern, like, exactly, the minute we were all on the air, we heard the minutes coming out, the stock market shot up okay >> yep >> now, let's look at the ten-year note yield chart. at exactly 2:00, it had already three minutes before that touched 2.91 at 1:57 it was coming back down. as a matter of fact, after the minutes, traded down to 2.89 what's the significance of 2.91? it was last thursday's high yield close for four years the minute the ten-year note yield creeped up and traded through that, that's when it got crazy because nobody in their

right mind goes home long treasury when it gets a new high yield close. that's when everybody reversed i think the treasury market, especially the long end, is in a non-fed mode it's moving higher the fed could affect it, but i think it's moving higher, and it's been doing so in a certain way for all of 2018. the stock market always had a love affair with the fed it's not surprising me the machines found a phrase within the minutes to propel stocks, but the real story, i think, is treasury yields have a mind of their own on the long end. don't believe me look how much the curve moved since wild days of february to where it is today, benchmarked how we close much flatter than it was, and today, alone, the curve is busy sometimes the outright ten-year note on any given slow day >> wow are you readjusting here what do you think the significance of the minutes today was? >> you know, the fed's minutes

today, they had the language of gradual or further gradual increases, and so we think we're going to see a quarterly increase for the rest of the year, which is not really a change from what we saw before, so in terms of our invest memen we're not seeing major changes on equity or mixed income, and we are long term investors, so we don't make changes based upon short term moves in treasury yes. >> but you do. >> yes >> i'm wondering what you think of the volatility today? >> the volatility is all related to the bond market you know, originally, when we saw the market go up, it was dovish statements, you know, and everyone says, all right, the market rallied because of it, and started what we felt, a lot of traders felt people read between the lines, typical of the fed any time the fed has any

statement, and that's why the note sold off. the market was based on what was going on over there. >> your picks here like cisco and broadcom do you think there are names investors own where they don't have to worry about if there's a turning point here with inflation, with interest rates, with growth, with fed policy >> well, we try to invest in stocks that will work whether the economy is strengthening or weakening, so we look for strong companies and strong industries, and scisco and broadcom meets those. with cisco, they returned to growth on the top line, and they are switching their business model over to one of recuring revenu revenues microsoft did that a few years ago, and their multiple went from 16 to 24. cisco remains at 16. >> okay. before we go, if we close sharply lower or if we -- what are you looking for here i had people coming by saying we need to go much lower to test

the lows >> i want them to -- i want them to test the lows i don't think you'll see that happen today, but i want them to test the lows. i think that's a reaffirmation we need that you test it, bounces from there, and rally in storeme mentstore i don't know when that is, but test the lows. >> well off the lows now >> we are. >> going down 7%, 8%, maybe more >> i'd like to see it in the next week or so to test the 200-day moving average again you need a secondary blowout normally, there's three. if you have the second one, it's a buying opportunity, again, a lot of people said that. i think we may not see that third one, but we'll see a second one >> all right thank you as always. thank you for joining us see you later. thanks we head to the close in 20 minutes. round trip for the dow now down six points, now nine points and more as we head towards the close. the other major averages hanging

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welcome back, let's look at a couple movers in today's market advanced auto parts seeing the best day sense november after climbing higher on the yields of a strong earnings report this morning, where it beat on both the top and bottom lines company says the tax reform has, in fact, helped them this quarter. that stock today up 8.8%, and foot locker is trading higher as well after increasing the quarterly dividend by 11%, and announcing a $230 million capital expendture program for the this year. foot locker was upgraded to k w neutral from underham at buckingham today it was higher earlier. >> wasn't everything >> yes >> dow up 303, now down 40 points according to a jp morgan reporter, investors allocate just .2% of the portfolios to commoditie commodities. we focus on that now with larry mcdonald, editor of the bear

trap report. calling it a short term opportunity to get into the space. larry, all right, you want us to buy beef, coffee, and fertilizer, right? why? what's the idea here >> well, if you look back in history, with higher deficits, a weaker dollar, and money that's flowing out of bonds, it's not walking away from bonds. it's running away from bonds right now. that capital has to go somewhere. about a trillion and a half dollars has gone into asset management strategies, risk party, and a lot of that is in bonds, and right now, that money's getting parlayed, and investors for the first time saw stocks and bonds together. >> this is not a long term investment, but short term trade, right >> short term trade in the first inning, but through -- the next couple years, should be doing quite well >> how well? what kind of appreciation? >> i think the risk-reward in the commodity based etfs like

the dba, agricultural, your downside is 5%-10%, but upside is 50%-70% >> inflation in play >> it's part of it you saw it already, soft ag is six to ninths behind the steel sec sore, for example. larry is spot on incredibly thoughtful look of the look at u.s. steel, a lot of these stocks make sense. john deere, for example, reasonable valuation, great earnings report, tape denying that work, and mosaic works, another one, cheaper than deere, came off a somewhat tempered earnings release, but you know what this could be one of the rising tides lifts all boats things >> it's predicated on inflation trade, which we described -- that doesn't happen, we get to next month, payroll report, wage numbers not great, it's -- i -- is there a case in -- such a

cyclical business. stuff changes up and down like crazy, so -- >> the futures market. >> so there -- there are risk factors that people have to keep in mind here the narratives could change. just to say it's inflation doesn't mean that's where we are headed >> we're coming out of an absolute grizzly bear market in commodities, especially if you go to the soft side, agriculture commodities, six years down negative returns could take awhile to play out, it may, but remember, since the sequester in 2011 in washington, we have not had any demand side fiscal stimulus. now we got a trillion dollar deficit this year, maybe next year, a trillion two, and for the first time, we got deregulation, and that stimulation is oozing through the u.s. economy, plus, with the weak dollar, there's a tremendous amount of global debt because of the weak dollar, all that dead globally feeding back to the united states, all

creating new demand side dynamics that should support inflation. >> it's fun. i go off, i talk to people, i come back, like -- >> welcome to stay there come back any time like ron howard did that >> i like ron. >> ron howard, went away, came back, calling the shots that day. >> i'm going to do that. >> we call guy a lot of things, thanks, larry. >> pleasure. we have a news alert on mark cuban to get to. here's the details >> that's right, kelly mark cuban, owner of the dallas mavericks, $600,000 today for his comments on a podcast with dr. jay saying his team's best option was to tank and lose games on purpose to get a good draft pick later you're not supposed to sigh things like that the nba did not like it. he made comments like this before telling a reporter the other day he expected to be fined by the nba, and so now he has that fine coming that's totally different from

the mavericks' situation with sexual harassment in the workplace, and that's been another story going on over the last 24-48 hours this fine today is just for cuban's comments on a podcast saying the team was openly and actively trying to lose games this year as much as possible. >> mark, mark, mark, never, ever, ever, ever, come on. >> i wonder, would the nba discipline him for the mavericks and the workplace culture there? is it like any other workplace where there's the boss, they find out what's going on, they come after him and do something about it >> well, that's another topic, right, the fact there's been a history of "sports illustrated" reported sexual harassment in the workplace, different from the tanking comments remains to be seen we'll see what's going on there. team's leading investigations as well and will be doing training. mark said he did not know about that you do wonder if the fine today is partly elevated because of that story, but i'm sure the league say those two things are

separate and unrelated just a bad week for the dallas owner there. >> yep >> sure. >> thank you >> thank you ten minutes to go here, dow down 37 points now, i mentioned a lot of this drama goes back to the 2:00 release of the fed minutes at the highs, the ten-year reached 2.97% >> when was the last time fed minutes had that impact? >> right >> like the beige book still to come, earnings results from cheesecake factory, pandora, roku, and jack in the box. up next, looking inttho e earnings crystal ball and how much stocks could move on their results when we return let's begin. yes or no? do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade.

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welcome back dow down 50 points, about 53, 57 now as we head into the close. here's a look at the 30 components of which seven are in the green, well, six - >> yeah, right >> and the worst performer today, again, walmart, down 2.5% >> what is the market saying about walmart? that's the question. the numbers that bad >> now 12.5% yesterday was the worst percentage decline in 30 years,

i believe? >> yeah, now on a day when the dow was up 300 points, walmart was still down 2%, stuck there today. >> in the green at the moment, utx leads the way at 2.5%. transports positive by 50 points mcdonalds higher, jcm as well. >> transports were up 200, though, coming back quite a bit as well. another exciting afternoon of earnings we could see big after hours action in the names reporting. over the last eight quarters, cheesecake factory moved on an average of 4% a year up or down after posting results, and pandora moves average of 7% after reporting, and jack in the box moved around 8% over the last eight quarters, and how is this for after hour fashion, following its first earnings report in november, roku jumps as much as 57% with a quarter

that smashed analysts' expectations who knows what it does today we'll bring you all the numbers and instant analysis as soon as tey hit the tape after the top ofhe hour. meantime, coming back with the closiing county don't dow down 71 points

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we have two and a half minutes left here. this is interesting. as we -- i'm going to bring bob pisani in on this now. set the stage here the dow after the fed minute came out at 2:00 eastern, took off, up 300 points briefly before pulling back. now we are setting lows with a down 136 points here >> what was interesting, you can say, well, the machines reacted to the idea that the fed said wage growth was well-contained in a sense, paraphrasing a little bit, but, actually, that trade went on for a long time. we were up for a good 20 minutes, the market moved up, and then just slowly moved south because the bond market. we saw an initial move down in ten-year >> show the ten-year we got that as well. >> bring it up there >> 2.91. >> just reversed yields just moved very quickly, within -- you can see that, takes 15-20 minutes, moved towards 2.95 very, very fast, moving the market down the dollar did the same thing. >> anticipating the same here.

look at this look at the move in the dollar >> what 25 years in the business does, folks. that moved the mark in the other direction. annoying and confusing, and we had the discussion, we said, this sounds dovish from the fed, but did not include the minutes or events from the jobs report, the wage growth we saw from the january numbers. >> you have to believe the fed is more hawkish now than it was when the meeting occurred. >> exactly the point we had the budget that the president signed as well significantly added to the deficit. >> give me the dow again now we are down 160 points again, people like art and peter and some of the other traders on the floor here are of the belief we need to retest the old lows that were set last month or earlier this month in order to get a meaningful launch again. >> then we saw today -- i

agree -- what you saw today was traders sort of talked themselves into the idea that, well, this is the way the fed should be looking at things if it's staying we don't have any actual conclusion that that is the case >> thanks, bob what is the market telling us? where are we going heading back to the recent lows? we'll talk about it, and those earnings on second hour of "closing bell" with kelly evans. see you later, kell. >> thank you, bill welcome to "closing bell", everybody, i'm kelly evans, a 500 point swing. dow up 300 points, and just in the last hour of the session, gave that back and then some we went out with a drop of more than 150 points. looks like a drop of 168 on the be bell, dow below 24,000 for what that's worth s&p down to 2701 with nearly a

15 point drop, and nasdaq composite was better, and russell 2,000 at 1581. it managed to stay positive, just under two point gain today. a couple things moving higher to watch. the ten-year yield, 2.957, the highest tick we've seen here lately, and what about the vix volatility gauge back above twenty after the last couple hours of trading dollar stronger too. with that going out, we have more earnings headed our way, and reporters are standing by. josh lipton has the roku reports, julia on pan ddorpandod kate has restaurants, and sema has hotels for us. see you in a minute. on the panel is guy, as we told you, he's back, thank you, guy, and david is here from hennessey funds. thank you. bill smead is here too

the biggest winner was united technologies managing to stay positive dow transports up 30 points today. the biggest loser was walmart, down 3% after yesterday's 10% drop the s&p 500 advanced auto parts the big egest winner. so, guy, first of all, what do you think about the close? that just got -- >> miserable a fascinating day. market rally, obviously, after the fed minutes, but rallied because the fed said, you know, the wage numbers for a couple weeks ago, take them with a grain of salt. people interpreted that or the machines, to bill's point, interpreted the fed's not into it, but people said, wait, inflation is here, fed has to move reverse, 2.95 on the ten-year, and we're back to probably the environment we should be in. the vix should be north of 20, and quite frankly, all the technicians out there -- >> north of 20 >> absolutely. >> because of the fed -- >> in the environment we find ourselves in, the vix at 20 is

cheap. people disagree, but i get it. for technicians, huge reversal day, seeing volume that's good. >> david, what do you think? >> i think the market's trying to figure out whether rates matter they have not mattered for a decade going down or it's 0, so now do rates matter higher they go, the more they matter, maybe they matter now. trying to figure that out. >> plenty of people say they mattered hugely, but they've been so negative that basically everything the fed's done was behind that. everything that happened with the economy was the story of the last, oh, so many years, and it's just reversing now. >> well, i think that's what the market is trying to figure out the economy, clearly, is strong now, but the question now is the next big market move going to be in response to a slowdown and not a pickup we already had the pickup. >> slowdown is >> in the economy. >> the next market move is looking for a slowdown >> if the next big move in the market is a big move, is if because of the market -- the economy gets stronger or weaker?

question there, the economy now is good, so how much better can it get, and rates move up and inflation moves up - >> feels like a late cycle >> market moves 20% or 30% >> sure. >> not moving up >> which way will it be. bill, weigh in, i know you're not calling the market so much as maybe reflecting significance from where you sit on the fact the ten-year is 3% this afternoon. >> as long as duration comment stock owners, we think that the next bear market will be there to cure the prior bull market. the excessive bull market are in the glam teches, therefore, we're in a correction. amazon and netflix, the glam teches, hold up better than an average stock. the major bear markets all punished the most successful

stocks in the prior error. this looks like a correction i wouldn't agree with the thoughts about the strengthening economy and weakening economy. the demographics are great for the economy, and a move up in interest rates to 3 on the ten-year and 4.5 on mortgage rates is a pimple on the face of humanity >> does that mean it's a problem or a small problem that should be dismissed some pimples are a big problem >> it is not the problem the next bear market will be centered in the fact that we have now aggregated most of the s&p, 25% of it, in tech and tech related security, which -- >> let's talk about that >> that's a dangerous -- >> yeah. >> that was a dangerous signal for the oils it was a dangerous signal for the banks back in '05. that's the danger sign, but

that's not the problem right now. >> let's show amazon for a moment, crossing $1500 in the session today. market cap around 725 billion. >> unbelievable, right >> yes does bill have a point it's been true for the last couple years, quite frankly. it comes home to roost eventually look at amazon's last quarter. they had operating margins coming in at 3.5%. this was almost twice what the street looked for. what's the point if it means amazon can turn that dial when they have to that's why you are talking about a $1500 stock. below that level, 1482 david, is that a symptom of an unhealthy market the performance the size of some of the big cap tech names? >> well, i think, the big caps used to be small caps, not long ago, and so it's not like the big caps have been around for 100 years like ge was or 3m or boeing these are new companies that are still being tested by the market, and so, you know, amazon, five years ago, ten

years ago was a nothing company and now is the biggest market cap with the most power in the world and only took ten years? took gm 100 years to get there, forp ford, whatever, so we are learning where the companies are going. >> bill, a quick response before we move on >> make up a list of every megacap company for very large s&p trading earnings, and see where the stock was five, ten years later. >> all right all right. again, today, we have earnings on pandora julia? >> reporter: kellys that's right. pandora shares moved higher in after hours trading after beating estimates. revenue at 395 million versus estimates of $376 million for the quarter. the stock's up nearly 10% in after hours trading. earnings, though, met estimates and they came in at a loss of 21 cent a share analysts expected a loss of 7

cent per share a couple other key metrics here, subscriptions grew 63% year over year to almost 100 million dollars, total subscribers, 25% year over year to nearly 5 partnership 5 million, though, a little lighter than expected, and total listener hours and active listeners, both numbers coming in just sthshy of expect. one other thing, company announced plans to reinvest $45 billion in analyzed cost savings to a key growth initiative a lot of talk in here about how they are moving towards more of the on-demand ad supported business back to you. >> so, julia, they missed on the bottom line, light on the subscriber growth, light on the hours, but beat the top line, shares up 10%. >> yes, that's right that's right some, you know, a lot of talk in the era about the growth in

both -- in both subscriber growth as well as revenue growth, and subscription revenue grew 6 p 3% and toe call subscribers at 25% they are managing to make more money from each of the subscribers, but what's driving the stock is the fact revenue beat steps >> 395, julia, thanks. >> makes sense to the point, they seem to be working more efficiently revenue ballet is significant, up 32% if you learn one thing over the last decade, stocks with big short interests, people get squeezed that's going on now. how long does it last? 10%. >> pandora over five bucks a share. hitting financials we talked tech financials best sector, obviously, we said ten year over 2.95%. i know it's not all black and white and not just interest rates go higher thanks to great -- it's not that simple, is it, david >> rates go higher until they

are a problem with respect to costs or credit, so now you're in the beautiful sweet spot where you are benefitting without any of the downside because rates are not high enough or low enough the financials from a valuation perspective, especially big ones, are not that expensive relative to the history and some of the other companies out there. >> more like there's lift from the necks because rates are not low anymore? >> that benefits them, but, again, you're hearing that, you know, mortgage applications are down because rates are up, and refinancing is down, so you got to be careful not to get too crazy. >> is that a reason for you to shy from the bigger mortgage names like wells or jp >> the big banks are actually in a great position because they've got a lot of ways to make money as rates go up, and even if the economy weakens, they've got such a -- so many things they can do internally to get better. there's a lot of cost cutting and efficiencies to do so there's a lot of businesses they don't need, a lot of caps they don't need, they have extra capital, plenty of earnings and

buybacks and dividends what's important is what's hurt, i rather own those companies than smaller banks because they don't have as many arrows in the quiver to get better >> what about you guys >> yeah. every quarter point fed raise puts loads of money into the pocket ofbank of america and j morgan and other banks pandora grows revenues, couldn't get money on shark tank, but 10% in the market. that's what you call financial euphoria at its finest people should be aware we're in a financial euphoria period. >> all right i'm going to have joe if he's a buyer here let's talk about roku's earnings that's out, josh >> reporter: kelly, roku reports a gain of 6 cent, but not looking to appear to compare to the street's estimate of a loss of .10 revenue up 28% to 188.3 million,

comparing to the 182.5 million that analysts looked for, kelly. as for the guide, roku says look for revenue between 120-130 million analysts had 132 million. light there. on the full year, look for between 650 and 690 million. the street was at 662 million. turning quickly to the segments, roku said platform revenue grew 129% year over year to 85.4 million. they said it's up 45% of total revenue saying advertising was particularly strong, player segment, sales of the streaming media devices in q4 units grew 8% year over year and highlighted a makeshift lower price product with price reductions, leading to 14% year over year decline in the average selling price. 7% year over year decline in payer revenue to $102.8 million.

back to you. >> josh, thanks. bill, shares down 15%, the market works this is a streaming company. this should be, like, you know, not able to go lower >> yeah, but some of those -- you know, nonprofit revenue metrics and customer growth things in the -- that's not what creates financial euphoria that report you just -- look at the difference in the two. that's the -- it -- this is -- >> i think i got ya. i think i got ya >> in three, four years, people look back at all these things and go, you know, what was i thinking >> i don't know. guy, real quick. >> i don't know what i was thinking tell you this, this is the other side of the coin look at this quarter, it's a miserable -- the quarter is not bad, but guidance for 2018 was not what the street wanted sometimes shorts are right you're talking about a company with a 43% shortage. >> wow >> they lean into this so goes to show, sometimes you're right or wrong, but when you have a company at this

valuation, your guidance for the next year better be better than before expecting, otherwise this happens. >> roku going back two quarters ago. thank you very much, guys, bill, pleasure, david, thank you for joining us here. big drop in roku shares. watching that. more earnings to come. a lot more is ahead on "closing bell." next up, a bold call by an analyst seeing a shift in social media. with money moving from the biggest players to the new kids on the block plus, the fast money guys weigh in on amazon's new milestone and walmart's new slide. the closing bell with kelly evans live from the new york stock exchange is back in two minutes. regularly with our ameriprise advisor. we plan for everything from retirement to college savings. giving us the ability to add on for an important member of our family. welcome home mom.

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the olympic winter games 2018 home to afton and every other hometown in america. welcome back breaking news on ford. phil lebeau is on the phone, what's happening there >> caller: shakeup in the executive rings at ford. the president of ford north america is leaving the company immediately. this is following an investigation by the company into complaints about the conduct of mr. nair. he's been with ford for 30 years, has been in charge of ford north america since june of 2017

the company is not detailing what the complaints were that led to the investigation of mr. nair, but in the departure, there's a quote from raj nair, where he says i have not exhibited leadership qualities and behaviors consistent with the conduct that's expected of the executives at the ford motor company, so, again, raj nair is out as president of ford north america following an investigation into his conduct kelly, back to you >> phil, real quickly, being president of north america sounds like it's one of the most important roles of ford, right >> caller: clearly one of the top roles at ford. now, is he at that very next echelon underneath the ceo no, but he's pretty darn close, and prior to this, he was in charge of product development, chief technical office, and at ford for a number of years putting this in context with regard to ford we know all corporations are looking at the conduct of their employees, not just their

executives, but ford was -- it was just destroyed by complaints from female workers at its plant in chicago who said, look, there's widespread sexual abuse taking place in the plant, leading the ceo to write a letter published in the "new york times" saying it's unacceptable, we're not putting up with this conduct, and we don't know that sexual misconduct is the issue here, but ford realizes in this environment, there's no room at all for any misconduct, zero tolerance, raj nair out as president of ford north america. >> bill, thank you phil lebeau with the latest there. there's a david versus goliath clash in the digital advertising space with twitter an snapchat gaining ground on heavy weights, google and facebook for advertisers, how much does size matter? joining us now, two chief

strategy officers interesting note you have out today, upgrading snap, thinking that snap and twitter steal share from facebook and google how much >> we believe about 15%-20 tailgate of advertisers really have gone on to the facebook platform are now really starting to dip their toe into the twitter platform potentially snap you know, i think part of it is the news that's a game changer in terms of what we've seen, but also these companies after a year of backs against the wall, you start to see better engagement, targeted advertising, and you are starting to seeit's not just a one-size-fits-all approach here. >> facebook and google issues right now, are well-documented, but snap and twitter have their own. snap, there's controversy about the redesign work, and twitter with issues about whether half of the hashtags are made up by russian bots going after people

indiscriminately are they in opportunity to take advantage of this? >> twitter is really the one this is the window of opportunity for them to gain -- i mean, you look at advertisers, you have 300 million-plus users, but engagement in ad growth quick throughs are strong for twitter. now you are starting to see more advertisers go to that platform. we believe this past quarter is just a first step in terms of what we are seeing in terms of snap, look, we continue to be positive on that, and that's why i think this quarter, even though the resign is definitely growing gains, and you are seeing that with the petitions out there with the power users, it is the right medicine at the right time for longer term growth that's what we see for advertisers to expand demographics >> talk about twitter the stock, though stock from 22.5 seemingly three weeks ago, trading 33 now. people think it's going down to 10 that was obviously not correct never talk about monthly average users. google doesn't what's going on with twitter is there a suitor there with the cash on hand

somebody setting up to buy twitter? >> in terms of m&a, twitter's definitely front in center for social media i also believe right now they are trying to figure out can they do it on a stand alone basis? q4 was a step in the right direction. you're right, not necessarily about user growth, but ad eng e engagement and growth. look at a lot of cash coming in, a lot of repatriated cash, twitter is front and center for m&a, but organically, the stock could go to the high 30s, low 40s. >> has to feel awkward after a while, a couple years now, all of these takeover rumors percolated and nothing happens maybe they are just that good at fending them off or people don't like what they see are they going to like twitter as an opportunity if they actually are worried, oh, wait a minute, the government's going to crackdown on them now conservatives tried to tweak the algorithms to clear out bots and cleared out legitimate accounts.

they have major problems to grapple with here. >> make or break year. 2018 weaving is another step back they need to prove organically they can monetize the platform and really start to gain at facebook's expense and a lot of the target advertising, organic chasm pa campaigns, video content starts the game there this is a pivotal time for twitter and snap, obviously, that comets to be kind of an average slight climb back to ensure they cannot be further than a one-trick pony. >> before you go, twitter? >> i think, listen, on a day like today with the market reversing in a major way, twitter closes higher. everything you said, has every opportunity to go lower. it didn't. there's something going on listen, again, i'm on twitter, i'm not a huge fan necessarily, but i see the value in it, and i think a lot of people are coming around to that, and maybe it was the best thing that happened to twitter they didn't get a suitor

at 25 bucks. now we're at 32% higher than we were >> 33, just like you said. see you in a bit thank you. >> thank you for having me we have a news alert on sinclaire, here's the latest >> broadcasters have plans to sell tribune tv stations in new york and chicago the number one and number three markets. ownership rules seeking regulatory the 3.9 billion deal. in the filing today, they disclosed plans as it looks to bring the combined company below the 39% cap on the national audience that one company can reach, announcing plans to sell some of the stations in the eight markets including seattle to comply with the station ownership rules. as for the question who buys the

station? fox talked to sinclair, but could not buy the new york or chicago stations because of what fox already owns back to you. >> yeah, julia, thank you. sinclair part of -- part of the ownership issues, consolidation, as we talked about for quite some time. we have an earnings report on cheesecake factory kate, how did they do? >> kelly, quite a few earnings here start with cheesecake reporting in fairly straightforward quarters here. eps of 53 sent in line, and revenues in line, and under a pressure now, down half a percent. comps down 0.9%, more than expected the street looked for 0.6% moving on to wendy's in line with 11 cents, revenue a miss at 309.2 million. north american comps up 1.3% increasing quarterly dividend

rate by 21% and added a $175 million repurchase program the stock is lower likely because guidance was below the 2018 eps estimations now to jack in the box, eps of $1.23 a share, above stimestimaf $1.06. revenue a beat here too of 294 against estimate of 283. comps up, and stock is higher at 1.3% back to you. >> you can have cake, wendy's, or jack? >> cake quickly. the stock is not cheap if you look at the comps, not great. their margins go the wrong way what's that tell you tells me the stock should go lower. should continue that way the jack in the box, right, the only reason in my opinion, and we love -- what's q'doba, getting rid of it. what's that mean not time to be in jack in the

box. i think jack is interesting here, but quite frankly, neither are sorpt ringing my bell. >> there you have it, jack up 2%, and cheesecake down 2.5% president trump opened some gun reforms. looi live in the white house next y.lmart down for a sec straight da the fast money trade on whether you should bargain basement shopping for the stock take advantage of special president's day offers now through the 28th, on the 2018 es 350. experience amazing at your lexus dealer. (barry murrey) when you have a really traumatic injury,g) we have a short amount of time to get our patient to the hospital with good results. we call that the golden hour. evaluating patients remotely is where i think we have a potential to make a difference. (barry murrey) we would save a lot of lives if we could bring the doctor to the patient.

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survivors from the deadly school shooting in florida are gathering in the state capital in toll has see urging lawmakers to pass new gun law restrictions >> you adults fail us by not giving us a safe place for children to go to school, so we, the next generation, will not fail our own kids. we'll make this day happen >> mean while, president trump is now open to the idea of new gun restrictions eamon javers has the latest. >> reporter: the news, the latest here at the white house is that the white house has begun its listening session, billed as an event for the public to talk with the president. they talk about school safety in the wake of the hideous school shooting in parkland, florida. the president is meeting with survivors of the shooting as well as other shootings today to discuss ideas what to do about school safety going forward.

there they are on the screen, offering observations. we had protests from high school students around the local area here in washington, d.c., protesting against gun violence earlier today. a lot of high school students opening their voices here. here's what one had to say >> can i have your attention please we need common sense gun control legislation now! no more waiting. no more thoughts and prayers tell me the last time thoughts and prayers saved anybody in these situations they haven't it's time for legislation. we need it now >> reporter: and, kelly, the political needle here at the white house is moving a little bit in terms of what the president might accept in terms of gun control i talked to a white house official earlier today who told me that the white house is open to considering a new approach to gun control, one in which the president accepts the blocking of sales of all guns for certain

categories of individuals, particularly those in and around the mental health care area. they described that as different than the previous approach pitched by democrats, which was to ban sales of certain guns to everyone like the ar-15 or assault weapons in general this approach, this white house official told me, was to ban all gun sales just to certain people and allow gun sales to a great majority of people to continue uninhibited, a new way to think about it, this official said, and simply considering a range of ideas here at the white house today, and open to suggestions that's a little bit different for a candidate on the campaign trail, president trump, who campaigned on the second amendment and campaigned on guns in a big way >> and that's the listening session. you can see that on the screens there, happening right now, eamon, thank you eamon javers for us. cnbc obtained a statement from the president of the

education association. the statement from the president of the union says, quote, i'm sure that most of florida's public school employees are as sickened as i am to learn that the state has invested some of our pension fund holdings in the maker of the ar-15, unfortunately, teachers and other school employees have no say in how florida invests its retirement funds, and says there's better places to invest public employee retirement money than in companies that make prung prun products that harm our children, end of quote they hold 41,000 shares, formally smith and wes sson. now, florida's pension system told us that, quote, it must act seoully in the economic interest of the apartments and beneficiaries. as primarily passive investors, they said, we essentially own the entire market. that's their statement we'll keep you posted on any developments let's get to the rest of today's headlines now with morgan.

>> kelly, so here's what's happening at this hour u.n. secretary general antonio d called for suggestion session of all war activities in rebel held section of damascus saying it's a human tragedy unfolding before our eyes >> i am deeply saddened by the terrible suffering of the civilian population in ghouta, the people that live there in hell on earth. >> the death toll from the bus crash in southern peru rising to 44 this after the double decker bus ran off the mountain cliff and tumbled some 650 feet, about two dozen more injured after a two-year absence, flu mists could be made available for next year. advisory committee voted to recommend the use. doctors stopped offering when

found to be ineffective, but now another says it's reformulated the product to make it work better that's the cnbc news update at this hour. back over to you, kelly. >> thank you, morgan amazon above the 1500 price earlier today, and up next, fast money traders say whether they buy the giant on this strength, adne ahollywood making the helis,nd sexual harassment a big deal for businesses on main street. details when we come back.

welcome back, a look at wall street, today very different close from if you checked in an hour beforehand. the highs up 303 points after the fed minutes released at 2:00 p.m., but gave it back, closing down 157 on the dow. half percent drop to the s&p down to 2701, nasdaq lower by a quarter percent, and russell positive by a point, and interest rates, ten-year yield a high of 2.957% dollar stronger too. here's a check on the names moving on earnings after hours today. cheese january cake factory down more than 5% roku down nearly 20%

has light guidance for 2018. wendy's down, and pandora at an 8% gain. we have another one. avis >> reporter: that's right. waiting for host hotels, but look at avis budget group. big beat on earnings, estimate for 22 citizens, revenue higher than expected. management citing terrible pricing in the americas as one reason fourth quarter earnings were better than expected and saw a fourth quarter net tax benefit. shares up 8% here in extended trade, and, by the way, up 12% over the past one year, despite competition from ride hailing apps like uber which i found interesting. back to you, kelly >> interesting story thank you. thinking of advanced auto parts -- introduce you, and then we can talkabout it. >> whatever you want to do >> amazon hitting $1500 for the first time in intra-day trade,

and walmart continues the slide. there's the comparison of the two. that was after yesterday, the worst session for wall market since 1988 where are we going here? amazon crossed 1500 today, walmart's weakness well-known, but still in that intense death by amazon trade or moving out of that after - >> it's nice to see you in a suit i didn't know you owned one. >> i do. >> walmart two days ago and amazon a couple weeks ago, essentially, walmart was taking back the space, treated -- started to get an e-commerce multiple, dare i say >> sure. >> they told you subdued, they are considering the consumer should be in great straits the fact of the matter, spending goes higher, better tax environment, in the middle of the guide on where they were, so that's a disappointment. >> do we talk -- talked about this earlier, guy, maybe it's good for wall market to be knocked out of the e-commerce

high flier basket and settle into 2% comps that were not terrible, but were -- we'll take it >> what valuation do you put on the company? >> exactly >> that's the rub. doesn't zperdeserve that valuat but going back to that, currently at 17 towards earnings, it's too rich. is that a high teens multiple? it terms of the technicians there, 90 bucks is what it's worth, topping out january 2015 and reverse and went lower previous, you know, resistance should be supported, and if the tape is going to roll over like it did, walmart -- it's not going to be impervious to this >> walmart is benefitting for things that get the tape to knock itself over. if there's inflation and there is in staples, that basket we see trickling higher, for retailers this is a good news, and same store sales might be the tonic. what retailers want to see

>> i have to go, but in a word, amazon here? >> not in this tape. i just think, look, it's a multiple, it's tough for me, although the company is totally executed >> i know it sounds crazy after everything i said, but you stay with tapson as you stay with netflix and those names. crazy, i know. madness. >> guy and timothy, very much appreciate it. it's not just hollywood and major sports team with sexual misconduct problems. next, shocking data from the latest poll of independent businesses well, have you seen her work? no. is it good? good? at cognizant, we're helping today's leading banks make better lending decisions with new sources of data- so, multiply that by her followers, speaking engagements, work experience... credit history. that more accurately assess a business' chances of success. this is a good investment. she's a good investment. get ready, because we're helping leading companies see it- and see it through-with digital. i'm not really a, i thought wall street guy.ns. what's the hesitation?

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hollywood grabbing sexual harassment headlines, but big new scandal in the sports world. mavericks owner, mark cuban, firing the team's vice president of human resources after "sports illustrated" released a story about rampant sexual harassment in the office described by an employee as a real life animal house. the ceo is the most high profile executive accused of creating the toxic workplace and other front office officials engaged in inappropriate behavior. the team is hiring an outside counsel to lead an independent investigation. sports, business, hollywood, all have been rocked recently by the scandals that spurred us to launch closing the gap, an area focusing on issues for the women from inequality in pay and gaps in leadership to the culture and how the me too culture impacted small businesses, the very small ones. kate rogers has the results.

>> cnbc and survey monkey looked at harassment in small companiecompanie at all the businesses polled, half have a sexual harassment policy in place for workers. the smallest business owners, which is key, they were much less likely to have an official policy in fact, only 39% of those with 0-4 employees have a policy in place compared to 85% of those with 50 or more employees. what's more, the country's smallest businesses, two-thirds said the owner is the one handling claims, and two-thirds say claims are handled by human resources. 15% of owners said claims are handled by the owner and two-thirds of those sent to professional 11% of all small businesses said they issued some company wide communications to remind their people of sexual harassment

policies and reporting procedures, 9% of them reviewed policies regarding diversity and gender equality, and 5% said they fired or suspended employees over misconduct. back to you. >> yeah. that's tricky. there's a lot less accountability as a small, you know, firm and the owner is the person you are trying to complain about >> yeah. >> kate, thank you >> definitely challenging. thank you. coming up, winning the gold medal in figure skating in the 1976 olympics, joining us to weigh in on tomorrow's highly an tis waited free skate after this clvp

♪ >> it is day eight of olympic

curling. the u.s. men currently are taking on great britain for a spot in the semifinals, and the women continue round robin play against sweden will the u.s. advance to the semifinals tune in at 5:00 p.m. eastern beginning in about ten 5:00 p.m find out that's ten minutes time. olympic figure skating women's short program last night three members of the women's team ranked ninth, tenth and 11th ahead of the finals tomorrow let's welcome in dorothy ham ill. >> thanks for having me. >> when i told people because i was excited you were coming on, the first thing they have said to me is you haveto ask her about the ham ill haircut. >> it's great, but with a little help from my friend. >> for us, it was the rachel haircut from "friends" that everybody had. wouldn't work for me, it's curlily. but for you, this was a big deal

at the time. everyone else had the bun and the pony tail. >> and the farrah faucet i had short hamplt my mother wouldn't have let me. >> you should have gotten a royalty. the ham ill camel. >> that was a version. >> what do you think about the skaters today. >> they are amazing. incredible i can't imagine what their training is like they are in a fish bowl living with social media. we had three networks in the old days and land line across overseas to communicate. so very different. >> they have a lot of scrutiny on them and a lot of pressure. >> they do, a lot. >> we had on the gold medal winner even lysacek last week the winner from 2010 he said part of the issue is peep are focusing so well on the jumps and how well an athlete can do them. so you have this roll of the dice where any particular person could win. you are a legend it is going to be the same today or as the nature changed so it's

harder to build that following and have success over longer period. >> it's hard to have that success and build it because the injuries are pronounced now and it's harder for people to reign and to stay at level i don't know i admire them. i just worry when they get older. my body is paying for what i did. and i'm trying to make up for that now but i just can't imagine what they are going to be feeling like when they get to be my age. >> and then of course there is the career issue of it what do you do after the games do you try to build on that? one of the questions we like to ask people who come through here is what the is the biggest money mistake that you have made. >> oh,money mistakes. >> spending it. >> giving them some advice. >> put it with people you know and trust. although i thought i knew and trusted some of my peeps. >> but they didn't turn out to be trustworthy. >> no. but you know what, you live and

you learn, and i'm really lucky i was able to turn professional because we were amateurs and i was able to skate in an ice show, many ice shows, so i had that you know, now, the good news is i've finally found people that are trustworthy, and i'm a little smarter as an athlete you don't learn all these things you are just focused on training, you know, and trying to now, working with ature's bounty, finding vitamins that help me with my physical challenges, i should say, and having a healthy life-style, since i can't train at the olympic level anymore, findings things that i enjoy doing. which has been a challenge >> what are some of those things. >> simple thing, walking, walking with the dogs. i like biking. nothing hard core. i ski a little bit

i try to find keeping active is a bit of a challenge thank you. >> thank you for joining news for people for tips on health go to natury's bounty.com, because i'm giving tip and help hadding people at my age stay alive. >> thank you for coming down here >> thank for having me. >> that's dorothy ham ill. meantime, olympian chris w rkt e joins us here ath neyo stock exchange as well. right after this

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imagine racing down a mile long slide with twists and turns at 95 miles an hour. you have got a 50 pound sled and a helmet chris mazdzer did it you won the silver you have the medal with you. >> i do. thank you kelly. >> congratulations. >> it's been a crazy experience so far. >> you have to be crazy to do the luge, by the way. >> no, no, you don't have to be crazy. but you have to be willing to take some risk

obviously, it's -- it is wild but you know what, it is a lot of fun. >> i am sure you are asked this all the time, can i hold it? it is a silver medal >> this is the silver medal. >> how heavy -- >> it's heavier than it looks. >> it's heavy. >> it's 99.9% real silver. what is the market value today. >> a couple hundred bucks, you know. >> i don't think i will. >> 320 is the scrap value of these silver medals. gold, higher bronze, sorry bronze >> if you need a coffee or something like that trade in your olympic medal. >> this really is quite heavy. and i know they change them all the time crazy for me is that you are sitting here you are supposed to be in -- you are going back, around you >> yeah, i came to new york for just a few days but i'm going back for the closing ceremonies. it's just such a great way to like celebrate with all of your team u.s.a. friends and -- >> are you on pure adrenaline right now? how is the jet lag those are 14-hour flights,

around they. each one but it takes a couple of flights. then there is a train that you have to take, a bus of it is adrenaline, it's coffee. it's just like this overall amazing feeling that i have. >> quick question for you, who would be your dream sponsor? one thing we have been asking the athletes >> who would be my dream sponsor? i think toyota, actually, because i love their toyota 4 runner and i love going off-road. >> soak. so after the luge, what are your plans? do they involve a, you know, off-road vehicles? or what now for you? >> actually, it's staying up with my studies. i'm studying to get my certificate of financial planning, cfp. >> how far are you >> in the second module. i have a long ways to go, i'm starting this process. i want to go into life planning, life fulfillment planning. >> tim ferris specialist

if you went to south korea, came back here and are going back again, you got the silver medal so you can ♪ ♪ at the gangneung curling center as the americans prepare for a critical game against sweden, this is a must-win for the u.s. hi, again shot rockers, welcome to an important da