but wait until january 2nd or something. ahead of the holidays. >> tricky. beats all the layoffs in general in tech. >> or too much hiring during the pandemic we'll find out morgan, see you tomorrow >> yeah. >> see you tomorrow, all right. that does it for us here thanks for watching "power lunch. "closing bell" starts right now. stocks have been gaining steam pulling back in last hour following the best week for the s&p since june welcome. this is a make or break hour for your money "closing bell. i'm sara eisen in the market up 79 points or so on the dow s&p unchanged. energy today, industrials, consumer staples in technology all solid. in the red, real estate financials, consumer discretionary and ultilities nasdaq falling spent most of the day higher

ten-year note yield higher, could be why we're losing team thek cheese out this hour. a flavor what's americaing merck, johnson & johnson, health care stocks on the rise, amgen adding most to the dow along with j&j. coming up on the show, speak to bruce richards from marathon asset management oversees $23 billion in capital and has been bearish lately find out where he's looking for opportunities now in the credit market. plus, speak with the ceo for a read on food inflation just how many consumers are willing to pay now at the grocery store. straight to the mashgds abc with senior markets commentator mike santoli as always. put on steady after a giant rally last week. >> sara, that's the observation. market's holding on to nearly 6% gain in the s&p. last week second day in a row. right at the 4,000 level

briefly got there friday trading a little above today interesting to me in part where it takes us back to. this market come down since january. first crack below 4,000 in early part of may. when the fed stepped up its rate of tinting to half a percentage point at the may meeting, early may. got an april cpi report. 8.3% causing another round of fear about tightening and inflation which is what thas all been about this year yet we're at that level again after another three percentage points of fed tightening and inflation recently only starting to show signs of backing off look at that two different ways. one, markets about zord a lot of bad on the way, point to point over the last six months and not lost much. the other hand still face those pressures and maybe a matter of time before it succumbs. we'll see. the most volatile, etf known to low relativity one

six-no chart was 4,000. thursday and friday another bursts liar in the risky high beta stocks. often lower quality heavily shorted. in this case a lot of tech and a lot of consumer discretionary. not a lot of things like energy and staples. we've seen this a few times before the big jump in june another towards the august high. always backed away we'll see. even today starting to see mentioned health tear strong a turn-about from friday one of these rallies risky stuff finished sixth see about this one. >> one catcatalyst, the big inflation and now fed talk, trying to walk it back some backing it up it doesn't feel like there's a lot of movement retted to the fed rhetoric sort of used to it at this point. >> no yet, that's true interesting, i remember saying last time, maybe we just heard

this before and when the fed comes out -- ten fed speakers this week. he know that it will have an impact in a period doesn't seem as if there's one big scary thing or one bing promising thing directly ahead of us on the cle calendar the market figuring can we absorb what we've already taken? the season's rally in place? do people have underinvested. >> mike, thank you see you soon. turn to geopolitics front and center president biden holding extensive talks with xi jinping in bali. kayla tausche, big take aways. does this have to do with relations what >> depends who you ask conquering a lot of ground in today's meeting. policy officials no breakthroughs expected and no breakthroughs tliverred in part

of an important motion to keep communications open. most feared scenario of a possible cold war or invasion of ukraine didn't see that. >> i absolutely believe there need not be a new cold war i met, we met many times with xi jinping and we rewere candid and clear with one another across the board. i do not think there's an eminent period on the time with china and our poelicy has not changed at all. >> no sign trump era tariffs are going away and curtailing beijing's access to chips. precursor to more former hawkish moves. building walls and barriers

pushing for decoupling runs counter to principles of economy and undermines international trade rules. president biden made clear he would defend american interests but certainly, sara, still a lot that did not get worked out today. >> i guess on the plus side at least talking. something. investors like that, and pay attention to what about, now we know democrats will keep the senate learned that over the weekend and republicans likely still get control of the house by a smaller margin what does it mean for what investors can expect on policy, if anything? >> heard it called the most consequential lame duck snegs a generation at least. over the weekend, aneed ta dunn, said keeping the lights on for the federal government there's a funding deadline that runs out in mid-december trail try to add additional covid and "ukraine funding on to that package and a question

whether any signature social issues will go forth, codifying abortion rights, and president biden asked and said at least in the new congress there won't be enough votes in the house toe do that then finally, issue of the dell, majority leader said overt weekend wants to take it up sooner rather than later dunn wants it to be bipartisan the white house believes that. seems like it's up to congress to bring up the debt ceiling and decide when to cashew that believing the republicans should be on the hook for that as well. >> kayla tausche, thank you very much. joining us to talk how it shapes the market outlook, global market strategist scott wrenn. what does this mean for investors more excited about a red wave doing in? >> yes, sara the key, still have split governments having an affect on new spending and things like

that it didn't turn out a be -- most polls will continue to show. should republicans retain the house, i think they will, it's going to be a very, very narrow margin. >> what does that mean as far as expectations around -- >> i think as far as -- yeah as far as the market goes, you know, typically after these election the results for a couple weeks but quickly get back to what are earnings going to do? what's the economy going to do we are very quickly going to be back into that, because the question stilg remains, you know, is the fed going to make a mistake. we think they will because we'll have a recession mild, moderate or a severe recession? we think moderate. how deep the recession, how high the fed's going to hike rates. those are the questions that people are going to move quickly on, once he wet past this house

final finalization. >> sounds like about the fed and not so much the politics. >> it is. >> two quotes getting the most attention from fed speak in the last 24 hours. fed governor waller, really poured cold water on the better reaction to the weaker inflation number saying market seems to have gotten out front. gotten wait ow in front over this one report and cautioned there's a lot more work to be done everyone should take a deep breath, call down and have a -- talking about the need to moderate interest rate hikes soon probably appropriate soon to move to a slower pace of rate increases and sound the a lot more dovish. what do we made of these conflicting signals? >> as far as my old brain goes, absolutely no surprise

the market expects a slower pace, and i would say to the other one, -- we know they're hiking rates a few more times here probably 50 then a couple quarter point hikes. sara, those do sound a little bit add odds i put more weight on what was said today and think we have a lot -- >> i think we lost you lost him >> are you there, scott? >> i am. okay we got you backant. >> even though sounds mock liar hall. >> for sure. speakers, mike mentioned, a lot of fed speakers and start to get clarity. if seems odds 50 and slow the

pace into the new year a lot of opportunity for those comments to started to get in the market this week, a and think that's probably going to happen >> you're still telli i ing cli more down-side risk and not to get in. >> no. this is at 4080, 200 day moving average. above that big trim line off the record high. hard to get through that unless the marx perceives market's coming um and -- milder -- >> scott -- our loss lost your shot and the connection have you back on, thoen, of course. up neeply 10%. talk to the company's latest read on food inflation and outlook on consumer spending as w dow's holding on

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software names like servicenow, snowflake, data dog and huge decrease in koud crowdstrike down 28% year to date. keep in mind the filings are for third quarter and september 30th ending my birthday. do not disclose short positions. >> everyone wants to know about the ftx holding anyway in that series see you around of course. thank you. take a look at utz, snackmaker outperformed since start of the year despite rising food inflation showing persistence in the latest cpi report consumer demand remains healthy for this company last week posted better than expected earnings and guidance joining us outgoing ceo. welcome back to the show how high prices can consumers tolerate here? >> sara, thanks for having me back and thanks for the nice intro, and yeah.

definitely seeing a lot of inflation and pricing the entire subcategory, pricing to essentially try to overcome that inflation. it's been yog going for quite some time. as you note, the elasticity and the resilience of the consumer is very high especially in snacking something going on for at least 25, 27 years i've been at utz. >> are consumer pricing going to keep ridesing in food? are you still hiking prices? >> i'd say we put a lot of the increases that we have done, in 2022 don't have list price increases slated for 2023, although we do have inflation that we are going to see in 2023 especially around some of the commodities like cooking oils and stuff. we have lapover benefit of some pricing from earlier, in 2022 that will benefit in the 2023. i think across the industry at

least for snacking entities and companies, there is still a lot of inflation interesting to see exactly how much pricing lacks year over year also any new introduction of pricing as well. >> in other words, you don't see it coming down rapidly here and some are getting excited about with overall inflation amp getting that weaker cpi report last week? >> yeah. i don't see it coming down it's important to note that as opposed to, you know, buying a house or buying a new truck or a large ticket purchase for the consumer, snacks are a very, you know, inexpensive treat that one pick up and reward themselves or their family with a snack. it's not a very large purchase decision. there's a lot of other things that ways we look at to take out cost, to increase our productivity, to pass that along, also to try to ensure we're reinvesting in the brands,

innovation and distribution and things that help us to continue to grow. going into 2023, a little interesting to see what happens. >> yeah. typically during recessionary periods, we see consumers at the grocery trade down into private label, away from bigger brands. shrink the size of their shopping carts are you seeing any of that kind of behavior? >> not yet traditionally, private label, in salty snack category a relatively low market share. a lot of it has to do with a route to market people like utz and some of our peers or competitives used to go to market for this high-volume snacking entity that takes a lot of time and effort to get it on shelf and keep it in stock there's not a lot of private label penetration, but invariably to think there won't be into the future is short-sighted. after some time you'll see increase in private label.

typically the branded players like ourselves if we keep up our premium branding and premium quality, our excellent route to market will be fine as we look forward into 2023 and beyond down the road. >> doing a deep dive on inflation and talked about food and commodity triprices what about other, labor costs going up supply chain issues. are those things getting better, worse? the same >> they're getting better, in pockets for sure i think it's funny even in early 2022 when you wouldn't have thought it was going to be a concern, we having trouble getting certain supplies just to meet demands we don't spend a lot of time today talking about the lack of supply right? inputs we would need to make our products, and freight markets have lessened up a little bit, which opened up some ability to ship more on time.

labor markets are getting a little less tight. more people are returning to work definitely seeing that track that in a bunch of different measures and across the board most are slowly improving. i do see some of the non-commodity aspects of inflation abatesing a little bit and then hopefully that will allow us to not up the price more in the future and return some of that to consumers and in future pricing and future offerings. >> all right that's something i guess people -- the cheeseballs are too good that's why people are willing whatever for them dylan, thank you. >> thanks for having me. much more on the state of the consumer and food inflation tomorrow got an exclusive interview on the show with the cha ipotle ce on to gains. coming down a little up 12 points on the dow. s&p 500 turned negative. real estate financials, consumer

discretion, technology and staples all red in the market. health care holds strong small caps down about 0.4 of 1% underperforming. after the break, magic coming out of one toymaker today. there's your clue. hitting the stock hard revealing the stealth mover next. then later, don't miss our interview with bruce richards, head of marathon more thanes 20 million under management the best environment this century for one specific type of investment find out what that is. ten-year note back to selling off after a big rally last week. remember, the bond market closed friday yields remain under 4% even though ticking higher today. tesla is down. amazon, despite word of layoffs from the "new york times," under pressure got amd with a double upgrade. helping that stock bitcoin ntngo ff. coinui tsuer we'll be right back.et is te

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check out today's stealth mover. hasbro stock not having a fun day for investors. down grading to underperform from buy implying more than 30% down side from here. analysts there saying hasbro is overproducing magic, the gathering cards. making long-term value of that profitable business disappear. when we come back, marathon asset management ceo bruce richards says this is the best environment for investing in credit this century. he's going to reveal the opportunities when "closing bell" comes right back.

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call 1-866-336-3448 today and feel confident you have all the benefits you deserve for 2023. you can receive extra benefits for a zero dollar monthly premium, like dental, vision, hearing and prescription drugs. call 1-866-336-3448 and make sure you're not missing out. stocks spending most of the day in the green s&p turned negative. nasdaq losing a bit of steam in the final hour, but, of course, all after last week's gains that saw best weekly performance for the s&p since june ten-year yield back on the rise a bit. so is the strong dollar. joining us now exclusively bruce richards ceo of marathon asset management and, bruce, you've been bearish pretty much all year long. has anything changed for you as a result of that softer inflatin

read that got the market excited? >> hi, sara. how are you? two more hikes left in them and going to take fed funds from 4% where it is now to 4.75 percent ps , 5% range all next year 5% fed funds rate, sideways in 2024 pivot yes, i think inflation is rolling over to your point stuck and not allowing fed to pivot. markets are underestimating the lag and impact from the fed tightening, because by q2 of next year recession. q1 starts earnings recession, base declines by 8%. next year from 220 earnings, to 202 and 202 times 16 multiple takes you somewhere around 200 3shgs 300 s&p down from 4000 where it is now. called for 20% decline in equity

market and dedplin bond marketing coming into the year seen that and remains somewhat defensive. despite the better tone we've seen last few days, i think a lot of that is technically driven and fundamentals will follow through in the coming quarters, and we think we'll see with that a little higher rates as the fed continues to raise rates as well as, you know, lower equity markets. >> why do you think, bruce, the market is refusing to price in this earnings recession? or deeper economic pain that you're describing? that's really what it is saying rate picture priced in, right? but the economy. earnings picture will deteriorate while the fed has to stay pat >> i think every time, there's something that pushes the markets, the fed's there for a plug fed's there to lower rates back down, but this time is different from inflation, and so unless if you're hopeful inflation will

roll back to 2, i think that powell does not want to go down as arthur burns, more like paul volcker in terms how he's remembered and i don't think he wants to ease too soon which will up-reig -ignite inflation. the bubbles created and some of the security bubbles created back then and what we saw in this most recent run is a lot to do with printing of money and fed bringing rates to zero this activity, which is actually detrimental to long-term capital preservation and long-term capital growth in our country. >> so you were right to predict the pain for stocks and bonds this year. no doubt about it. and still expecting the stock market to fall into next year. what does it mean for bonds? is there buying opportunity here now if you are expecting recession? >> yeah. i wouldn't say right now right here because rates recently came down how i would phrase it. when rates were zero coming into this year, we could lend and

earn 6% race, 6 base points over that risk-free rate. today the spread widened to 700 base points. over the 5% rate gets you 12%. rather than invest in the same credit and 6, soon earn a 12 rate of return in the public credit markets, leverage loans high-yield bonds, structured credit, buy those security yieldy 9% with ten points of upside lice of price depreciation and current yield bit in making this the best investing environment for credit, and if you look at long-term growth, equities market, say 7%, can earn 9, 10 in credit markets, biggest return credit to equities recently hearning 3%, 4% 5% on your debt coming into this year. >> and what are examples of company debt?

that you like? >> there's -- look at toyota, for instance wall street has hung with $13 billion a debt 60 cents a dollar, an attractive piece of paper look at the fact that, who was it blackstone, probably pays for fees to wall street than any other, you know, investment firm, wasn't able to get financing done when they bought the ericsson spin-off and they bought that -- they bought that division so they had to go to private credit martz and pay about a 12% rate and a big latin-american place sovereign offshore debt pays 12% cash flow at 20, 30% to par. lots of examples of strong double -- >> high yields. >> credits yielding in douuoubl

dump its and our whole portfolio shopping list waiting for the right time to buy. a lot of dislocation not a lot of liquidity and we're able to extract pretty high lending rates as a result. >> how risky are you willing to get? what about distress? you've been expressing a distress psych toll pile up. go to carvana, or bed bath & beyond >> i think a lot of industries, we should talk about, and i think it's across every industry that you're going to see distress i don't think you'll see so much in the energy sector and some in commodity companies but basically every other sector from technology-based companies to you know, most interest rate sensitive companies are the home builders i think, you know, with interest rates having gone up a few hundred basis points, mortgage rates go up. companies like dr horton, len

knorr, kb holmes doing well used experience to get leverage way down don't have the big land banks of the part and have lower debt that finances their operation in terms of debt to ebitda. building product companies floors, doors, windows, aluminum siding, bath tubbs, bathtubs, p. highly leveraged companies 30 to 40b o 40 of them look at open door. open door is in a very bad way innovation homes, the biggest home rental company that there is and rented all of those homes. open door has all the homes and unrented because they sisimply fwaut to flip it, higher costs, equity down 90% when the company that actually owns their homes

and have long-term locked in financing innovation homes down with the s&p i'm for hard assets and income producing and cash flowing all day over some of the more speculative tech-based companies, and also you see a lot of noise, i think also, in cable and media. another industry that stocks are getting hammered, and business models are being questioned right now. >> that's all another segment for another day. bruce, appreciate the xarchls, though thank you very much. >> pleasure. on what you called the greatest opportunity for credit in a century bruce richards from marathon. up next a new survey suggesting could be a rough toll lay shopping season for retailers. the big picture which names could be the big winners and could be the big winners and losers, straight ahead. sier.

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in today's big picture, we are now in the fourth quarter. meaning holiday spending is upon us it with all mixed economic signals lately what exactly can we expect from consumers this season a new survey out from stifel, in the mood to spend but warning signs. so-called spending intentions for november stay positive. near the average since may dig down deeper consumers earning less than $75,000 a year anticipate spending 27% less this holiday analysts say it doesn't bode well for jemerchandise. 40% spending modestly above and gas prices aren't as big a drag on spending assess summer

months, back in june, for instance 63% of those surveyed say it is having an impact on spending now, including at upper-income level. up shot here, costco, walmart and target in this environment, consumers opt for value and groceries keeping them from lower traffic sales. investors looking to see how strong the consumer is and how promotional these retailers are after inventories were bloated research consultant like dollar general, dollar tree, costco coinbase may be getting crushed. that story, plus amazon removed from a top pick list and bio keoue making big moves when w

ta y inside the "market zone," next.

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with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity we are now in the "closing bell" "market zone" commentator mike santelli here to break it down and on the impact of a new alzheimer's drug study and talking about coinbase pick it up, mike, seeing stocks fade in the final hour nothing extreme. s&p down 17 points, 0.4 of 1%. weakness in energy, stocks

holding crude prices down. and real estate consumer financials and utilities all weaker what is your read on this market reaction after such a stunning week last week >> i would say fomostly digestin modest in degrees of a minor pullback still only isolated in some stocks that overshot a fair bit last week. i think there is, though, you know, probably a fairly comfortable consensus among people who have been trained by the market this year to not believe fully in any rallies i think there's a general sense out there the next 2% to 5% higher in s&p is probably a low-risk sell or short an interesting dynamic in the stronger seasonal part of the year see if the market can challenge that and maybe overshoot it so it seems like a little less of an obvious trade can assume the down tern is in place. >> amazon joining twitter and meta as the latest tech giant to announce it's cutting jobs at least reports it is cutting

jobs "new york times" reporting that it will lay off approximately 10,000 employees in corporate and technology roles starting as soon as this week. largest round of job cuts in history for amazon shares lower today after bank of america removed the stock from its u.s. one list though analysts maintain add birating amazon in late october gave softer guidance for the holiday quarter, a sign ecommerce spending spree during the pandemic would be waning mike, not getting rewarded for job cuts, saw that from disney as well on friday after hours. what do you make of it >> yeah. obviously it's a theme that's going to wash over a lot of these larger companies especially those coming out of an aggressive investment phase 10,000 jobs is significant in absolute terms rel tative to the 1.6 million employees. not so much. figuring where to become

overextended in terms of closing logistical centers, things like that bigger picture, the stock underperformed s&p now on a four-year look-back basis. go back five years to get to a point where amazon has outperformed and yet you still have 90% buy ratings on this thing. it's not like the street turned on it. it's been a little bit of a, sense of complacency out there because it was such a long-term winner and amazon itself trained investors and analysts not to worry about short-term quarterly results. an interesting dynamic here in terms of people figuring out form of maturity amazon is entering now. >> the other implication, the jobs report in november. we have yet to see any impact of these tech layoffs after meta and twitter now amazon that's gawk to hurt. ship in it >> it's going to be an undertow for sure how much is actually going show up, a question, in numbers right

away in terms of payroll surveys and even in the household survey a lot of times you're eliminating a position that might or might not be filled a lot of times a runway and tech jobs only a couple percent of employees. >> good perspective. watching a number of biotechs today after roche says its alzheimer's drug failed to slow patients' decline eli lilly and buy biogen showing promising results. bring in senior biotech analyst a bio rating $325 price target on biogen. was larouche news a big surprise >> the roche trial of the three big trials, eli lilly and the roche trial, of course, this was

the riskiest one of the bimunch haven't seen any promising phase three data prior it was a longer trial. could have gone either way we're not terribly surprised by the news you know, there was a little bit probably we'd say in consensus numbers for roche. >> does it make sense biogen would go up on the news from a competitive position i know theirs is faring better, in terms of trial data a question about the size -- there's a ton of demand, in other words. >> for sure. a positive for biogen i would say probably on two fronts here. first one is obviously that we wipe out a competitor from the space. right? one of the key questions investors are trying to figure out at the moment what is the size of the alzheimer's market and how does it eventually get split up today's news removes one of those variables from the picture

here in roche's, roche now has a, you know, a horse in the race i think the second question here is obviously, what does this mean for biogen? a company there is a growing thesis on the investors base, in terms of acquisition if roche is out of the picture would they be interested in a company like biogen? >> hyou think a potential deal t happen here? >> look, it's a growing thesis among some biotech specialists we speak to roche and biogen coupled on a couple other projects if roche would like to stay in alzheimer's, an avenue they have enough purchasing power toe do such a deal if they wanted to. probably issue a little stock for that sort of thing this is something that amongst the larger alzheimer's -- remember, this is a company, a company here where alex denner,

prominent investor on the board of biogen once sold genseim, part of that and chris, newly appointed ceo, you know, to s santee and some of these things, is there something behind closed doors discussed in terms of dual tracking something here keeping biogen as a stand alone or signing the company within the next couple years. >> my broader question where we are in biotech right now ibb, had a great month obviously rebounding double digits and actually outperformed the s&p 500 this year, although coming off a rough stretch where are we in innovation, m & acycle making this group a goo bet right now? >> look, 2021 and 2022 have been tough years for biotech

investors. it's rare we actually see two really bad years for the biotech sector my particular view sheer that we bottomed in the summer of this year in terms of decline and pressure on the sector. as we go into 2023, you know, we would think folks become constructive again we now have two broad themes in biotech. one is obviously alzheimer's the other is obesity both of these newly create $$10 billion-plus categories in the space. i wonderge generalists, drug prices discussions addressed especially. >> we've got to leave it there appreciate you joining me. >> thanks so much. >> thank you very much. got bitcoin. other crypto stabilizing a bit after a wild week and weekend of ftx

headlines. many losers in the ftx downfall, of course, our next guest see as clear winner joining us, reiterated a bull case for coinbase. market is not taking this as a bullish sign for coinbase. why do you disagree? >> yeah. so last week was a week that for the crypto markets, some time i think put on a note today trying to gauge early read-throughs of how the ftx bankruptcy impacted broader centralizes exchanges across the market. we saw coinbase has taken early share along with some other regulatory compliant players in the united states like gemini and kraken i think when you look at that contrast to some of the global players that are less transparent, that, know, similar to sort of, not say ftxs, but offshore operating -- you know, regulatory compliance.

their volumes declined prior to the turmoil we saw with ftx. early read-throughs there. and -- you know, again, i think -- our view is that investors underappreciated coinbase and secure crypto globally and think that was legitimized to a certain extent last week. >> but it's, isn't it overshadowed by the fact there's a huge trust problem right now in the entire ecosystem? even if able to pick up market share from ftx i think there's a real re-think of crypto given how prominent and institutionalized in a way ftx was? >> exactly right look, this doesn't necessarily imply three days of market share, doesn't necessarily imply that coinbase will grow volumes this quarter i think broader crypto drawdown will weigh on the transaxes lefting there. i would say we see positive

catalyst on the horizon. one being derivatives business and getting regulated and potential for regulatory authority a catalyst helping that bring liquidity back into the united states. investors have to remember vast majority of liquidity in these crypto o o markets is happening offshore what they can get back onshore is a benefit to coinbase long term and businesses, liquidity and expense management remains sound in this environment. $5.6 billion liquidity on balance ending last quarter and just hit another round of layoffs the other week. >> yeah. just announced it. >> highlights that they continuing to prudent and executing on product in a multiyear downturn >> all right no we've got to leave it there. wrap up and go to the bell an interesting provocative theory and hope to talk to you again. at session lows down 188 on

the dow. less than two minutes to go in the trading day. only higher sector is health care. >> softened up quite a bit 50/50 through noon terms of up and down volume and weathered, gotten profit-taking here. basically 2-1 declining to advancing volume look at the new 52-week highs versus lows on the new york stock exchange not many either way, but twice as many highs as lows showing you short of peaked for now in terms of lows halting the vix. and a pullback and the fact this being monday looking ahead to potentially the market hitting just a little short-term resistance around 4,000 in the s&p. >> softened up indeed down 200 points on the dow. selling off in the final few minutes or so. hasbro and dominion energy new lows both stocks haven't seen since march 2020 right now a lot of gains disappeared just

in the final hour and final moments. i mentioned health care is the only sector looks like that will close higher s&p down almost a full percent here at the close. nasdaq falling off harder. down more than 1%. perhaps thawing in treasurertries buying on the dollar back to those trends not helping stocks out more than 200 at the close. that's it for me on "closing bell." now into "overtime" with scott wapner. >> sara, thank you. welcome, everybody, to "overtime. i'm scott wapner heard the bell just getting started from post nine at the new york stock exchange in a bit speak to a top technician however this bounce can go the meaning of today's sell-off into the close is, if anything also expect new filings this hour from some of the world's biggest investors. good chance to see what the so-called smart money is buying and selling in this current environment. we begin, though, with our "talk of the tape" despite the late session drop, the market's