affect banks. liz: google down a percent as we head into the close. [closing bell ringing] we're waiting on earnings has to be one of the most zigzag marret days we've seen in a long time. david: 70 points, it has gone 70 different times through the up and down mark on he zero line but we have ot a mixed decision on the both dow and nasdaq showing different moves. pretty much close to the flat line. the thing to remember with days pretty flat linish you usually don't have high volume. today we had a lot of high volume. there was a lot of buying and selling going on. it was practically dead-even. a split decision on all indexes. we want to bring attention to the small and mid-sizeed caps in russell 2000. look at this, one 1/4% increase on the russell. that is significant. we'll talk about that and a lot

of other stocks including google earnings coming up. "after the bell" starts right now. liz: major action driven in part by headlines today, but as david mentioned, pretty seth volume. so a lot of conviction behind what happened today. let's get to the action. brian parry from hennessey fund will tell us why the recent selloff is the opportunity to get in and buy. rob frost of frost and frost wealth management here with3 sectors he really likes right now and scott bauer in the pits of the cme. i will begin with you, scott. this morning looked like we were dropping once again. more than 200 points on the dow. a nobody voting fed member, james bullard of st. louis, came out and made comments and look at the session. what was it like in the pits? >> you know it was extremely chaotic actually,,which we

haven't seen a lot of recently. the market changed on such a dime today and everyone was looking around what just happened what just happened? we found out about these cooments of bullard. i also like to think that a lot of this was maybe the emotion of what hhs been going on, the fear of what has been going on, kind of got swept aside for the moment. the economic news of the day. the jobless claim number this morning. maybe people digested that at the same time. on ordinary day where we haven't had volatility we had, a number like that would have come out this morning and we would have ratcheted skyward. i like to think that was part of it. the fear and emotion part of the trade today kind of got sit in the background a little bii and we kind of gained steam a little bit throughout the day. volatility is still high, compared to where we've been over last six months. obviously not as high as it has been the last couple days. the key you guys were just talking about, was the volume. for a flat line day, but we know

it wasn't a flat line day but at end of the day the market is basically unchanged, considerable, considerable volume. that tells me we're at a point in this marketplace where buyers and sellers are at a point where it is pretty evened out now. it is not, we're only sell coming into the market. we've -- david: let me go to rob frost. rob, discuss all of does all of this mean the selloff is over? have we bottomed out? >> i don't think necessarily means the bottom is over but it sure was an exhausting day today and i think as your other guest said i think there were some encouraging signs. at the end of the day people were taking in some of the really good news and trying to put it all in perspective. let me give you an example. your kid comes home from school with d on algebra test. on surface it is bad but you realize he has been a and b on other tests and realize he was out to 1:00 with you at walmart.

it not the end of the world. we have serious problems in europe. ebola is obviously a very serious concern i think investors realizing what we're experience something much-needed pause in the market. we need ad selloff. we've been calling for it for quite some time. i think investors at end of the day saw really good, positive things in the economy. liz: brian, rob makes a lot of sense here, i now my 10-year-old would say, what he said. don't get mad at me when i don't do well on the tests. the market waa looking for an excuse to sell off a llttle bit, the balloonnwas stretched so tightly, some air had to come out of it. now that it harks what you guys at hennessey fund that looks like is discounted to you? >> what we really expected, i saw fear and greed kind of coming along and people getting a little bit more scared, i thought it was interesting today, the russell kind of led everything higher.

the small cap stocks have underperformed versus their -@large crap brethren for a significant time. you kind of see that reversal. liz: can i interrupt you, i'm so adam shapiro has them.numbers. how did google share. >> street was expecting $6.53. now the revenue picture, let me go through this ith you, total revenue 65.2 billion -- 16.5 billion. ex-tac, the amount for traffic acquisition. if you track that from revenue, but numbers we're reporting again, 16.2 billion, liz. the street was expecting 16.57 billion. cause per click rate, the paid click growth up 17% year-over-year.3 the street was expecting something like 20% growth. david: but not helping the after-hours numbers. we can see the slide after-hours, ended day, 536. now trading 515. it has come off the bottom of

after-hours trading. rob what do you think of numbers from google. >> not surprising. google has missed six out of the last nine quarters. i think investors realize most of google's money is made from advertising, 90% of it. i think investors are encouraged to see google start to diversify their business. i think that is the reason why even though they have been missing quarter after quarter, if you look at their stock price say over the last 12 months, they're up almost 20%. over last five years they're up almost 100%. i think investors still like google. liz: i'm looking at a bid and ask look as lot lower what we have on the screen. can somebody in the booth check on that because i have, you know what i think that is correct. google as we look what is oing on right now, it is not entirely embraced at the moment but as you side what exactly is happening here, brian, why is this not a name you would add to your funds at this point? >> well, i mean we actually own

it in one of our funds, in our hennessey foccs fund. it doesn't fit into my strategies because i tend to run mid-cap and this is not a mid-cap stock. so, it is a company that we do own though and we do like and we think longer term they have got some real, some real viable businesses and if they can monetize kind of the mobile marketplace, we think that there is going to be a switch from desk stop to mobile and they're going to be -- desktop to mobile and they're going to be one of winners. david: when you look at all the clicks going on google about ebola and isis and all other things, surprising they're not getting more of a pop after-hours. we'll continue to follow google. scott, i ant to move on to oil because we've seen it drop, actually below $80 for a bit. it got into the $70 range. then it came back up and ended the day up at almost a full percentage point. what is happening with oil? why the comeback? >> you know, i think we're3

seeing same thing as what i talked about earlier, with the market this morning. we're now seeing a level that all the people that were in, had to get out and had to get out and make margin call and look at supply and demand. we're more of equalibrium level. @his $80 level, whether a magical number or technically which it really is kind of a support level, that is the number where you see people get back into the marketplace. you're seeing high volume there and you're seeing much more of a balance and equalibrium here. until we see any sort of news coming out of the middle east on any sort of supply cutback or anything like that we are going to trade, i believe, in a very tight range. when i say very tight range for oil, i'm talking about 2 to $3 range over the next couple weeks. normally that wouldn't be a very tight range but given where we've been over the last several weeks i think that is a tight range. i think 78 to 82 area quite frankly we'll be give-and-take unless we see some big supply

chain news comiig out of the middle east. david: okay, brian, rob frost, thank you very much. scott bauer we'll check back% with you to see how futures look when the s&p futures close there at the cme. liz: we want to hear from everybody out there watching right now. do you think today marked a bottom in the markets or is it just a pause before we during another leg down? you can send us a message on facebook or tweet us @fbnatb. david: meanwhile dallas county officials meeting to decide whether to declare a state of emergency in the area as fears of an ebola breakout intensify. we'll talk to the mayor of dallas, texas, about what he and his administration are doing right now to deal with the crisis. liz: one of the top forecasters in the nation says market volatility may be so difficult to stomach but it is better than what she sees as the alternative. diane swonk, misery financial chief economist. also an advisor to the federal reserve. david: perfect person to ask

that of. what do you do with $127 billion with assets under management during so much volatility? what do you teel your clients? we'll ask bob doll, nuveen asset management about economy, markets, everything of concern to your wallet coming up. ♪ yoy friend a a master of diversification. who wod havehohoht the eese lasagna wod go with chocolate cake a ceviche? the same guy who thought tt all caps and bond funds ulith a merging marks. it'a masterpiece. ow what's our strategy.you . with the fondue? diversifng your portfolio? e*tre gives you the toolss an.

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and a free0-tablet trial. dad,thank mom for't said thisfoe oftprotecng my future.u. thanyou fobeing my ho and my d. military filies are uniquely t, thlegaf usaautorae coulbe . mif you're e current or former, miembeor their family, t an auto inrance ote ansewhy % of our members an to stay for life. david: google shares falling in after-hours trading following the third quarter earnings report. liz: let'' head back to nicole

petallides. nicole what did they see that they didn't like here? >> first thing so visible is a miss, a miss and a miss. a miss on earnings per share and a miss on revenue. earnings per share coming in $6.35 a share. that is weak every than what the estimates were for $6.53. then you have the revenue numbers are to the ticker ex-tac, 13.17 billion, versus estimates of 13.20 billion. also weak there on the revenue. now you are seeing google shares to the downside. they were down about 5%. they closed at 536. they're in the 523 range so you're seeing to the downside about 13 bucks. what about paid clicks? that includes clicks related to google owned anddoperating properties. those are up 24%. the online advertising rates that had been slipping showed signs moved rating some that is good news there. but the big picture here, liz

and dave. they have a miss, stocks to the downside. likely unpressure in after-hours. tomorrow we watchhthat. david: things, nicole. liz: s&p futures are closing in one minute. scott becauser is in the -- bauer is in the bits pits the cme with a a lot of volatility and a lot of volumee >> actually towards the close we're seeing lots of volume. we're seeing heightened tensions with traders. some people caught off-guard on the reversal and maybe carried ittin towards the close. volume is huge especially tomorrow with options expiration. i see big volume going into tomorrow. the volatility is not over yet but i think we'll trade in tighter range. david: scott bauer, thank you very much. liz? liz: seems like the global economy is n a bit of a rut. everything from isis to the hong kong protests, remember those? isis, eeola, market volatility. market fears of a global slowdown. you might have to ask what is

next for global economy. and will it take a toll on u.s. if it comes down to it, will the federal reserve save us from, dare i say the "r" word, david, recession? diane swonk, mesirow financial. right off the bat, james bullard, not a voting member. it was hard to really decipher his comments but they sure brought markets up off the floor. what did you hink of his comments and how should the viewer right now see what happened at 10:22 a.m.? >> this was two days in a row, john williams of the san francisco fed yesterday in very reassuring way, not% necessarily meaniig to open the door and say they will do additional quantity quantity but that's what the markets took from his comments. today, bullard said, well, he wouldn't use quantitative easing exactly but he said, bond purchases which is quantitative easing. liz: exactly. >> that we would do that again of and so, what the fed is saying is, you know. this is the soot of fed put. i won't even put a name on it

anymore. this is what the market is counting on, the fed to provide some semblance of sanity amidst the insanity. and some way of calming fears. the reality though is that the fed does plan on ending its current bond purchase program on october 29th. the 85th anniversary of the october 1929 stock market crash. what a day to pick. they will make clear that of course, if conditions aren't it, they're willing to go back. they have already said. that this is affirming it. i think markets are take it a little further. and it's a way to fill the void left by maaio draghi, the presiddnt of the ecb, who has a lot of words but never backed it up with a lot of action. the fed has used a lot of action and the markets appreciate that that at this stage of the game. liz: what do you think, diane? yes we had a very rough patch over what, past 19 sessions. you can't make these decisions based on stock market volatility. we had a cruise of a time over

past five yyars, straight moon shot to the upside but now when you start talking about, do we need more quantitative easing? we got non-farm payrolls this morning that looked really good. we've had improving data, not great but improving? >> right now we don't need it. this is something the fed, the fed needs to keep the powder a little dry. it doesn't have a lot extra. the federal receive has been very clear, especially people will be voting next year, made it very clear they don't want to move too soon. this s something in the hissory of the financial crises, the central banks moved too soon, derailed to the recovery and unnecessarily.sion we seen it happen in europe different points of the time. we seen it happen in the u.s., 1937 japan with two decades of deflation and stagnation. they want to divert that outcome. they want to keep their powder dry. they don't want to monkey around with their balance sheet getting larger again but if need be they

will. you're right the economic data today was fairly good. the jobless claims suggest we're well over 250,000 in october. on jobs. that is what it suggests for the october number. industrial production up. manufacturing sector down with revision to august still very good..3 auto sector is still there. all of those things are very good news going forward. liz: the u.s. looks like a very good thing going comparatively -- >> comparatively is the operative word. very good is relative. liz: volatility up 91% for the vix since the year began. so with vladmir putin and in february starting to enter crimea to snatch that up, there is a lot this market endured. does it mean that we might sse the "r" word again, recession because of what happening overseas? could that drag us back in, diane? >> that is clearly the risk and a strong dollar, we think, wow, great, strong dollar, it means import competition, it means less exports and slower

inflation that something fed wants to avert. i think we'll avoid. that i think economy is strong enough to avert that. i think fed will postpone things so it doesn't precipitate it. this is the wrong time. fed would like liftoff on rates. we're looking for additional weakness. we don't want to be infected so many ways, ebola, europe weakness. we don't want to be infected by that. that said we don't want to live that is important to take into account. that is whh everyone is so scared. feaa factor is high. that is why we shot to upside. u.s. corporations what do balance sheets look like? non-financial balance sheets are strong. liz: good point. >> that is good news and we made money overall so far, not as much as arkets were pricing in. liz: let's end on that one. >> we're probably too far down now. liz: i will end on positivee diane, great to see you. >> thank you. >> diane swonk of mesirow financial. david? >> they were just talking about

it, the ladies, ebola crisis hits more hospitals in the u.s. they will suffer more with lockdowns and strange on resources and lawsuits. help may be on the way. we're talking to one company offering ebola insurance. officials in dallas meeting right now to decide whether to declare a state of emergency. dallas was the site of the first case of ebola in the u.s. we'll in moments speak with the mayor of dallas, immediately following their decision. if you're looking for a market bottom, one money manager says there are three things you need to watch for. what are they? bob doll, nuveen equity loot about this. he will joins us in a oment. ♪ eception guermagroup is growing.

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liz: in wake of start of ebola pandemic, american hospitals are losing millions of dollars due to ebola-related quarantines and loss of potential patients. david: one insurance company is rolling out new insurance to help hospitals deal with ebola-related losses. with us, william gallagher, health care associates practice leader, peter reilly. peter, thank you very much for coming in. have we ever, you had a lot of experience in the industry. has there ever been a meddcal problem that has tested the insurance industry the way this has? i can think of just thousaads of different liabilities that hospitals and various doctors could have as a result of this. >> there are challenges facing health care industry and

pandemic potential existed with other super virus, ebola virus is something different beeause we know so little about this time how it is spread and potential impact not only on hospitals but health care industry as a whole. liz: talk about interrip shun insurance, business interare up shun insurance. we could see areas of businesses being shut down. intel, they have a whole plan in place, they always have. especially considering sars in 2003, which 44 people died mostly in canada and asia. >> exactly. liz: there could be business interruption. who needs this type of insurance? that we have designeddwithduct various syndicates at lloyd's of london is designed primarily for not only hospitals but other health care provide earns outpatient facilities or large physician practices. you may have patients coming to

the facilities looking for treatment. they may not know yet whether they have ebola but ultimately are found to be infected. those fa shipment the people come through the door are potentially exposing everybody in the facility to that illness and that pandemic setting. almost any health care provider in a position of a primary care emergency treatment could be facee with particular business interruption they're in need of considering this type of insurance coverage. >> how do yoo price insurance for something you know so little about, as you just said? @> that is indeed one of the challenges and really where folks at lloyd's of london i think have done a fantastic job. you basically have to guess what the cost may be for not only the treatment and amount of resources that you would have to utilize to treat these patients but you have to have some projections which hopefully are done in a crisis management plan

well before this happens, as to the cost overruns for not only potentially quaaantining your staff but stockpiling supplies, vaccines, and having the people there to treat not only the initial patient but those who kay come after them who think they could be exposed. liz: great point. >> open-ended potential. so the pricing is real challenge and there is no exact science to it just yet. liz: peter, have your phones been ringing off the hook? what kind of stepped up activity have you had at your offices? >> we have had a number of and, ringing off the hook is not quite accurate but we have probably had more inquiries via phone and email in the past 24 to 48 hours about this type of pandemic contingent business interruption than we've seen in the last decade if not longer. it has been very busy. david: peter reilly, william gallagher associates health care. peter, thank you very much. good stuff. >> my pleasure. david: speaking of ebola, dallas

officials are meeting right now to decide whether or not to declare a state of emergency. we'll talk to the mayor of dallas immediately following that decision. liz: and, he has got 127 billion in assets under managements. he says the wild trading session may session may actually be a good thing. why? bob doll, nuveen asset management chief equity strategist will tell you. david: google with earnings moments ago. we have the latest on that. why is it trading down after-hours despite a huge increase in the price per click? we have got answers coming up. ♪ synchrony financial paners ver two hured thound busisses, from fashi retairs to heaare oviders, from jelersto sporting, to help their customers get wbanking. loyalty. analytics.

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and get a documenthredder free. call the number on your r scen right now. david: with so much volatility many investors are asking themselves what will it take to hit bottom? how will we know if we're actually there? liz: our next guest might have some answers. bob doll nuveen asset management senior portfolio manager with 127 bill with assets under management. are we silly talking about a bottom, when the market run up exponentially since bottom of 2009, we might have so much more to go before we do hit at least a plateau? >> you're not crazy at all. market from bare market bottom went up 200%. now we have minus 10. in school of things i will take plus 200 ffllowed by minus 10

every day of the week. i think yesterday was very key day and beginning of the bottoming process. the horrendous selloff early in the day on big volume, the rise% secondary test, with lower low and less enthusiasm, less of a parade if you will. that is good sign and positive divergence. that doesn't mean the correction is over but it does say we can begin to look for the end of the correction as opposed to being free fall form where we were until yesterday. david: bob, let's talk about today. let's talk about something very specific today. oil turned around today. does that tell you anything about the market? >> it does. i have a christmas santa claus wish-list. i would like to see oil go up. like to see interest rates and inflationary expectation, cyclical stocks, defensive stocks. david: you know what they say, bob, be careful -- >> that i feel the correction is over.

david: be careful what you wish for. you want inflation to go up. interest rates to go up. it could go up too much. >> i don't think we have the problem just yet. maybe we get there eventually. i will take them back to where they weee a week ago. people realize the world is not going to end. we don't have massive deflation problem which certainly haunted market on this decline. lizz you have so much experience, you're a font of quality information. but also calm thinking in difficult times. you've seen all kind of problems october is traditionally rough-and-tumble month. what do you make of ebola headlines? you are having to admit affecting headlines moment by moment. should people be tuning that out? >> tuning out is a little strong, liz. maybe have we talked about it too much and overdramatized it? possibly. having said that i obviously haven't a clue where this all will end up. i think no one does.

that is the uncertainty. markets hate uncertainty. we have it. we know how many more people die from the ommon flu than the case with ebola. so lots of consternation. it hit the airline stocks for example. airlines are benefiting from massive decline in oil prices over last few weeks. but ebola trumped that. airlines are pretty interesting buy. liz: that answers that, interesting buy. what else would you be looking at right now? first of all, if i did not own stocks and i had money on the sidelines, intended to put in stocks, waiting for a pullback, what more can we wait for? doesn't mean we've seen absolute low. i would nibbling away on weakness. like we saw this morning. like we saw yesterday morning. i would lean to the cyclical side, technology stocks, industrial stocks. stocks that enbenefit from improved ecoi don't think theree

lot different in the u.s. toddy than where we were couple weeks ago. we're looking at it from different lens. when thingssare goiig down seem worse than when markets aae going up. david: one thing we don't have to speculate, bob, concerning the economy. that most americans haven't had a raise in about six years. that affects the economy. that aafects the markets. is that going to change anytime soon? >> yeah i say three things. one most, real wage growth after inflation come in the second half of business cycle. there are fewer workers and more employers want more workers. that's when we get it. i think we're halfway through the cycle. that is probably around the corner. while we haven't had wage gains we had massive decline in interest expense and debt service on back of lower interest rates. with decline in energy prices,

the amount people pay for energy is way down. the discretionary income after the necessities has gone up despite absence of real wage gain. david: bob doll, nuveen asset management. great to see you. thank you very much. >> thank you. liz: david let's cheek google shares once again. they continue to fall in after-hours trade. the company missed on both earnings per share and revenue for the third quarter. yet rising number of smartphones though helping the economy report a pretty healthy 17% increase in paid clicks but that was still short of what the analysts were looking for. 20%. the amount google got paid per click fell 2% in the quarter. google does not break out mobile ad revenue from desktops ad revenue. analysts say it is how the see how the company is handling the shift to smartphones and tablets. david: we have breaking news. meeting just moments ago, in

dallas, deciding not, i repeat, not to declare a state of emergency in texas. coming up we'll be talking to dallas mayor mike raw links on the very latest. rawlings. liz: oil prices tumbling to the lowest levels early every this week to the lowest levels in two years. how is the industry weather a -@crude price slum? we'll talk to a oil ceo. that is next. it's justm a lit. what's wrong with trying new things? feel that your muscles? yeah. i do... try a neway to ban where no branes equals t rates.s? hard it n ...h ...to eathe with copd? it can feelike this. copd iludes ni bronchitis and emphysema. spiriva is a once-day inhaled... ...copd intenance treatment... ..t helps open my airways a full4 hoururs.

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david: oil rebounding today after falling below $80 a barre% for the first time in more than two years despite reports that opec is still pumping out oil like crazy, adding even more to the current oil glut. so what is opec up to and how is that affecting domestic producers? joining me is phil flynn, price futures group and fox business contributor. phil, good to talk to you. >> thanks, david. david: what happened today? why did it turn around today? >> i think combination, the stock market came back up. we had those comments from fed bullard yesterday and we definitely rebounded. we did have an inventory number today. we saw a big build in crude supplies. we sagas lien demand jumped. draw down in gasoline supplies. the combination of stock market not falling off the face of the earth coming back brought back oil prices at the end of the day. david: what is opec up to? >> i think this is their big gamble. think i they're going to try to

bury the u.s. energy producer. some people think, oh, maybe they're going to try to bury russia or try to bury somebody else but if that were the case, why would the three biggest producers in opec banning together? you've got saudi arabia obviously, saying very clearly they're going to raise production. iran is going to do that. iran is very friendly with russia. that is not their main goal. then iraq. i think naimi got the guys together and said we have major threat to the cartel right now. if we want good times to continue we have to break the back of the u.s. oil producer. we've done it before. we did it back in the 1980s. they buried texas oil producers after prices collapsed and put them out of business for years. i think now they try to play the same gameplan. you know what? this is not your daddy's oil market anymore. this is new era. david: much more diversified

than we used to be. phil flynn, thank you very much. so how is industry weathering the crude ppice slump? joining me, gary evans, magnum hunter resources chairman and ceo. gary you just heard phil say it is not about them trying to kill off domestic produce is. it is more about other things. >> i've been in this business 30 years. this is my fifth cycle. when i started in the business in '85 oil hit $11 a barrel. we're complaining that oil is at 82. the one thing the united states has got going for it, we have the shale plays. the shale plays continue to have lower finding costs. if opec thinks that they're going to break the back of the u.s. oil industry, think they got, they're taaing a really bad gamble. i really believe it has more to do with russia. i also it i believe it has more to do -- david: let me stop you there because we know the u.s. has been making incredibbe strides competing with saudi arabia, competing with all the other oil

producers. it does cost us a lot oo money to produce compared to what it cost saudis to produce but that overflow of oil that we are putting on the market has caused them some problems, has it not? wouldn't they like to kill off u.s. domestic producers? >> sure. they want to continueetheir monopoly but this is a world% economy we live in today. to think they'rr going to cripple the u.s. oil industry which is today, oil and gas in the united states, we produce @ore product than any other country in the world. so thee're going after a gorilla. it is just not going to happen. now their own economies can't even support this price. so, if this price stays at this level, six months, nine months, they will starr having their own problems in their own countries this is short term -- david: today it turned around. do you think we bottomed out earlier today and from here on it will be up towards 90? >> i can't say that. i think what will happen in november is the opec countries will come together, they will make a decision to cut back

production, a million, million 1/2 barrels a day. i don't think they have a choice..3 david: how high do you think happens, if they agree to cut back the production? >> i think we're in 75 to $100 range for a period of time. david: isn't there a level, i heard the $70 level being mentioned quite often, at which point it becomes too expensive to frack for oil? >> it depends on the basin. there are certain basins in the united states that have higher finding cost, a higher lifting cost and there are certtin basins where there is basis differential where the crude oil, maybe the price is 82 but there is $4 negative differential for that crude. so certain basins have a lower limit than others. david: but at $70 a barrel it would cost concern companies to cap their wells, right? >> what they would do is stop drilling. existing wells will continue to flow. that would flow at $20 a barrel. new wells won't be drilled.% what would happen the rig count would begin to reduce.

service companies would be released and until prices came back. happens manies times. ddvid: very quick last question, have those service companies been suffering over the past couple months. >> not yet but it's coming. david: good to talk to you, gary evans. thank you very much. appreciate it. liz? liz: david, dallas officials as you reported deciding not to declare a state of emergency just yet despite the fact that 135 people have been identified as having had contact with various ebola patients. we're talking live to the mayor of dallas. that's next. warren buffett says, he has made a huge mistake. what is that? coming up we'll tell you which stock berkshire is regretting. >> hi, everybody, i'm gerri willis. coming up on my show at the top of the hour the latest on ebola and the federal government's response. former new york governor george pataki will be here. i will also speak with one of the leading republicans in congress who grilled the head of the cdc today. that is one of the big stories

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anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you in out-of-pocket medical costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. david: just moments ago, dallas officials deciding not to declare a state of emergency in texas to handle ebola. liz: joining us now dallas mayor mike rawlings. thanks so much for getting in the chair for us.

why did you decide and how did you come to the decision of opting out of emergency state? >> let me explain first of all, that was not the city of dallas. that was dallas county. we havv two different groups of government. that was on the county side, they decided it was a right decision to make because we have to use the right ttol for the right job. that was not what we needed. we needed something i advocated overnight and trying to work on to make sure that we keep all the individuals from the hospital that had contact with this patient in their homes away from the public. we can do that in other ways besides creating a state of emergency. david: we're looking at pictures of the texas health presbyterian hospital. the texas health services apologized for initially misdiagnosings at the facility the condition of thomas duncan

who died of ebola. what about protocal oo workerss3 that worked with him, now two which have ebola? was it a mistake that was made? remember over the weekend the cdc seemed to be blaming some of these health care workers saying they didn't follow the right croat call. were they following the right protocol or not? >> look, i believe we all made mistakes in this ffom day one. we lost one patient. we have two othees sick. we have not done this correctly. hopefully every day we get better. i can'ttspeak exactly what subpoena nag icu and isolation because i'm not there. i know across the board we need to do beeter. that's why we're establishing this new a new protocol outside of the hospital. david: let me focus in were you or were you not following protocol given to you by the cdc?

>> the hospital basically said they have made mistakes. what itch heard are and i'm getting into secondhand the hospital was working with the cdc on that protocol and it. the cdc strengthened that protocol and i think correctly so. liz: mayor, you're running a very, very large met trop police right now. at best this is a headache at worst a terrible concern. i believe 75 or so people mmy have come into contact with the sick people. keeping them away from the rest of the population what is the number one thing you feel your city need to do? >> is exactly that. we can blame people and look back. now to make sure those healtht care work remembers safe and that, they are, kept away from the public in case for some

reason people would spike at that point and people say they got it. you can't unless you come in contact with bodily fluid of someone symptomatic. we don't want any self-doubt. the people have to be there and take their temperature twice a day. we have to keep them awaa from airports, airplanes, movie theaters and public places. david: is there any sense, i know you don't want to encourag3 it by answer yes. i know people in the dallas area. they're very worried. i don't know if i use the "p" word, panic. but they'reeconcerned at a high level of anxiety let's say. how do you calm that down? >> well you don't. look, it is natural to be anxious. you should be n this case. but what you can do is be honest with people and tell themm3 exactly what is happening, as much as you can. tell them that a plan is in place. we have a plan in place for

these hospital workers. just like folks with contact with eric duncan. we implemented the plan. if by the end of the weekend no one is symptomatic we're out the woods. we''e talking to people all the time. that is why i'm talking to you. we have a plan in place that focuses on those david: thank you for keeping us posted. thank you for the time informing our viewers. we appreciate it mayor. david: thank you. >> thank you for your interest. liz: warren buffett cutting his stake in one big holding, calling the investment a huge mistake. david: which one? liz: we'll give you details coming up. david: one big event could move markets hugely tomorrow. tomorrow's trade today. you want to know about that coming next. go aheadnd put your bag rit re.

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berkshire hathaway sold 245 million shares of british supermarket giant tesco, bringing holding less than 3%. tesco revealed a $400 million accounting issue earlier this month. legendary investor said the investment in the supermarket giant was a huge mistake. shares fell 3% but the stock is down 50%. david: by the way, wasn't the dallas mayor good? liz: terrific. great leader. david: we asked you on twitter and facebook do you think the market hit a bottom or is there more pain to come? ed said there looks like a pause before the rop. that is bad because i put a few bucks back into the market to try to time it right. >> liz: matt, says it is a small drop. techs look ready to suuge. david: lisa says as long as people are affect bid ebola market will continue its losses. >> number one thing to watch

tomorrow, speech by fed chair janet yellen. it is a big one. listeners will listen to comments on strength of the -@economy or timing of rate hiks following this week's selloff. david: we'll watch google stocks to see whether that continues to fall. "the willis report" is next. gerri: hello, everybody, i'm gerri willis. cooing up today on the show, ebola is spreading in the u.s. that criticism coming from heated hearing on capitol hill today. >> people's lives are at stake and the response so far has been unacceptable. gerri: we'll have the latest from texas to ohio.eadly vvrus up down, all around the markets failing to find directions today. we'll look what investors are trading on. apple hoping to halt a slowing demand for tablets by unveiling a thinner, faster ipaa but is it enough? "the willis report" where consumers are our business right now.