if we can get above there, it benefits freeport and i think freeport catches up to the rest of the s&il then i'm catching up with freeport. >>> herb's take on why green mountain and starbucks is playing nice. looking for a better place to put your cash? here's one you may not have thought of: fidelity. now you don't have to go to a bank to get the things you want from a bank. like no-fee atms -- all over the world. free checkwriting and mobile deposits. now, depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. [ dog barks ] appears buster's been busy. [ man ] yeah, scott. i was just about to use... that's a bunch of ground-up paper, lad! scotts ez seed uses the finest seed, fertilizer, and natural mulch that absorbs and holds water better than paper can. looking good, lad! thanks, scott. ez seed really works. so, how come haggis is so well behaved? 'cause he's a scotty. o

freeport mcmoran and newmont mining fell.the indonesian government cut how much foreign investors can own of mineral and coal mines, from 80% down to less than half, 49%. it could be foreign mining companies will have to gradually sell part of their stakes. both newmont and freeport have interests in indonesian mines. we saw oil refining stocks heat up while crude oil and gasoline were higher. tesoro jumped 4% after receiving an analyst upgrade to neutral from bank of america merrill lynch, expecting shares to benefit from the price differences between crude oil and gasoline-- in other words, the profit margin. fellow refiner valero was up as well, rising more than 7%. this is valero's highest price since late may. volume doubled on the rally. in commodities, we continued to see selling in the grain markets, where corn fell another 2%. wheat was down 3%. and that's tonight's "market focus." >> tom: three trends expected to continue until election day so says tonight's guest. we welcome kyle harrington. kyle, it's nice to see

is that why you're looking at freeport mcmoran as well? >> this chart looks very vulnerable.s not reversed. it really has not recovered from last august. it also is trading in a consolidation pattern, a bearish descending triangle right on top the 50-day. if that patterns confirms, the target is 35, it looks like it could drop to that level pretty quickly. >> jon najarian has been looking at copper as well. >> what about bloomberg saying the stockpiles have dropped to the lowest levels and the four-week rally is the strongest that copper has seen since october. >> the rally when i look at it technically is bit a little bearish, and it appears to be creating a rounding top. i read something today talking about how inventories are buildings. right now, though, i think it continues to look vulnerable to the down side. >> abigail, thanks so much. see you soon. >> thank you. >>> freeport mcmoran was the proxy in essence for the copper for years. you now have cper, which is brought out by uso, same entity brings it out. cper. so i think some of the buying that freeport mcmoran was

same with copper play freeport mcmoran, which has been trading like copper turned green for days now. alcoa has been stopped in its tracks. and it still looks very weak. most important, the oils, which ceased to trade in tandem with crude two weeks ago, you know, took a real header led by national oil of arco. the rig maker that trades like a hedge fund play thing. something we saw writ large in 2008, when n.o.v. traded from $90 down to $17. pretty much in a straight line. >> the house of pain. >> hedge fund is always fighting the last war. we're savaging this one on the way out. it's now plummeted 18 in the last two weeks. don't forget, some guys were getting out ahead of this, which is why the market had started to be funky already. now, it didn't help by the way that the straight up charts led by apple had an ugliness to them. here's what's so intriguing. first, as we're finally saying around here, this is not 2011 where a china head slap would have hit everything we had. today, we had lots of stocks that did go up. the defensive stocks. they've been knocked around, on the ropes, f

alcoa, freeport-mcmoran or newmont mining? now the payoff.lcoa. >>> welcome back to the "closing bell." i'm courty reagan in times square. well, we are lower today, like the rest of the market, tech failing to outperform as we've seen it do most of the year. a far cry from nasdaq 3,000. it looks like we might close around the lows last seen around february 9th. however, some retail names are sliding. not all tech down here. lu lu lemon from buy to hold. where there are losers there are also winners. just a handful. some names in the green, shovel master, a casino gamemaker acquiring another company. shares higher on that news. maria, tyler, down to you. >> 20 minutes before the closing bell sounds for the day. the dow jones industrial average down 215 points. major averages posting the worst losses in about three months on renewed concerns coming out of greece and the eurozone. the nasdaq down 44 points. it erased 50 points at the day's low. the index had been down a bit more earlier. so we're basically just stabilizing at 2107. lighting fuse

group out of cleveland ohio you have freeport roll head out of phoenix arizona microsoft panasonic fatality you have no cio motorola being questioned about a culture. that's used and their cell phones can go anywhere from sixty four to eighty percent of the world's reserves of coal plant three letter conducted and it's found in almost every cell phone in the world and in almost every electronic device so these are some of the corporations that have been involved in benefiting from the cargo while on the other hand we have countless people dying to the tune of fifteen hundred a day forty five thousand a month five point four million in the last ten years hundreds of thousands. women rape. what really discourages you is to see a patient you treated in two thousand come back five years later with a rape or and even worse than the one she had before oh and this is terribly discouraging it's like you know what gives us courage is the capacity of these women to fight. if one person is brutalized in front of if war but it's time that ends everyone in that area i'm going to take their baggage and l

. >> my question on freeport. we have seen the growth but as china changes that mix of infrastructure spending doesn't it need less copper? there's a vulnerability than in the other raw materials. >> i agree. i think you are absolutely, absolutely right. there's also a lot of buying at year end to make you think that they could maybe hold their breath for a while. china, biggest story in china today internally is that they're trying to change the structure of domestic demand with less real estate, less capital spending, less manufacturing and more service industries which, of course, don't use as much copper. infrastructure spending is how they played the stimulus program a few years ago and now trying to do a bit less of that so i think that construction in particular which gets to copper is going to be one of the less favored and so it's maybe not as exciting as the others. >> one of the traders that called in today to make a trade adding to the shorts on cater pill pillar. i know that it's in your portfolio. yo

freeport is a huge company market cap of $36 billion. apple is $540 billion. 18% the size. and bhp one of the biggest material companies in the world, they're not in the s&p 500, maybe $120 billion. that's 20%, 25% of the size of apple. just giving you a sense of how big apple is compared to the companies that i talked about virtually every day, mandy. >> bob, i'm going to call it viewing the world through the apple colored glasses. thank you very much for that, bob pisani. no sector feels the pressure of high oil prices quite like the airline sector. and today was no exception. phil lebeau joins us live from chicago with a look at that sector in particular. what are you seeing, phil? >> mandy, in the middle of the day there was a flurry of activity especially as there were reports coming out about potentially the united states releasing the strategic petroleum reserve, as we all know that is not going to be happening. but look at the spike in the airline index when that report first came out, it was a huge shot up. and frankly it's been holding ever since even though the w

and that had the effect of pressuring mining stocks like freeport macmoran. shares fell more than 3.5%. volume spiked with shares closing at their lowest price of the year. caterpillar shrank 3.5%. this puts the stock below the low of its sell-off earlier this month. it's now at a ten-week low. investors had a big appetite for organic bunny crackers and mac and cheese. food company annie's sold stock to the public for the first time, and it was big. the stock priced higher than expected thanks to plenty of demand, and it continued climbing from there, closing up almost 90% for the best first day of trading for a new stock in ten months. >> aaonsur, ilove the products. but i'm not ready to invest after this huge pop. a look at it as a public company first. also, vu to ask yourself when you're investing in anything, do you believe the organic food revolution will continue to enter the mainstream and become a larger part of every consumers purchasing habits. >> tom: the new stock offering market has been decent this month, with 11 out of 12 new stocks introduced

giving up on freeport, they feel there's too much comer. i get to differ. the stock can go to 45. ford auto. bingo, i like the way it's played. now we're going to brandon, my old home state of pennsylvania. firing up the energy here. brandon. >> caller: how are you? my five companies are bank of america, dr horton, ford, st. joe company and solzon. am i diversified? >> wow, people sure do like ford here. two housing plays, we'll deal with that in a second. solzyn experimental biofuel, bank of america. bank, auto, real estate, real estate and let's call this biotech/oil. i want to get rid of st. joe and insert here, let's go to honeywell. let's put a diversified manufacturer. i think honeywell is a terrific situation, even though it's right off the 52 -- two points off the high. john in california. john. >> caller: jim, booyah from the stock club in sacramento, california. i loved your seventh anniversary show yesterday. >> i was at the intersection with my car but i love sacramento. >> caller: okay. at&t, cirrus logic, emerson electric, phillip morris and r

we have freeport-mcmoran, louisiana pacific, allegheny tech, u.s.rnational paper all reporting losses today. >>> looking back at the performance of the u.s. banks from september 2007 to august '09, companies were hit hard. 38.8% of the market value. but let's take a look at the counterparts to the north. losing an average of 16.6%, where's the best play right now in financials? the u.s. or canada north of the border and toronto. we have david baskin and south of the border in rochester, new york, president and chief investment officer at menden capital advisers. thank you for spending the time today. >> my pleasure. >> so let's zero in on what went so well in canada. what makes investing in canadian banks a better bet for u.s. investors than buying u.s. bank stocks? >> we're well-regulated, low competition, and high return. dumpb f duri during the crisis, banks fell sharply but then came right back. because in the end, no canadian bank had a losing quarter, cut its dividend and each of them, in fact, now has a higher dividend than before the financi

growing growth, moving on, the other big losers include material stocks within that group, minor freeportacmoran. from the country for mining and, of course, steel. you can see both of them under pressure. u.s. steel off 6 3/4%. even if the economy slows, people want to spend money on food and drink, specifically alcoholic drinks. shares of the bourban maker are leading in consumer staple stocks. maria. back to you. or bill, i should say. maybe i had one of those drinks. >> they tend to buy those alcoholic drinks when time gets tough. a classic defensive play, maria. all right. we're heading towards the closing day. just off the lows, we were down more than 90 just a moment ago. >> we want to talk about volume next, bill. how are these low trading volumes impacting the exchange space? we're going to speak with the chairman, terry duffy. he's live with me in an exclusive interview. we'll get into it, next up. >>> also, a huge management change in mcdonald's. how jim skinner's retirement could affect the stock. >>> and then, should you run and buy nike's shares ahead of the earnings? nike r

it's still lagging behind its piers like freeport-mcmoran. >> thanks, maria.es but they're make their presence known. brian shactman, he's got the end-of-the-radar stocks. >> i talked about it earlier. the s&p small cap index touched an all-time high. the stock with the best performance in 2012, headwaters, right? it was at 100 earlier. it was at 99.5% year to date. they make building materiels. for profit education getting absolutely crushed today because of the troubling enrollment guidance. corinthian is still up. that's the second best year to date. a couple other stocks to talk about. neurocrine. skechers are down. inventory overhangs, weak sales of new products and foreign exchange. i whammed to follow up on -- one of my big things with this seg management and others we tend to do a story and forget about it. carrols restaurant groups. it's up another 9.5%. last week 24rks%. back to you, bill. >> thank you very much. bryan murray is still counting it up it's just accounting. >> after the bell, he missed out on a more than $300 million game by selling his

. >> freeport -- >> this company spoke at a conference this week. talking about still tight demand for copper. >> the golden boy/heartthrob is no longer just a baby, baby, baby. today, his 18th birthday. i remember when pete had hair like that. >> i was 18. >> that's right. grasso, you're a fan, listen uptown from the exchange after work. >> can't be a hater of bieber. he's successful. i got four kids who love him. >> who said i was a hater? just said you liked him, that's all. next up, the -- may be the biggest apple bully of all time. >>> plus, the european economy that may be good for your money. ♪ ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ oh, oh, all the way ♪ oh, oh [ kareem ] i was fascinated by balsa wood airplanes since i was a kid. [ mike ] i always wondered how did an airplane get in the air. at ge aviatio

there's places -- i think even freeport mack.ou have seen great companies get to levels where you wanted to buy them. that's what erverybody's doing. and let's be ready for this next move. >> and we had an analyst today on the half-time that was saying, in fact, with walter cutting back on production pretty significantly, same sort of thing that natural gas players like audrey mcclendon have done. it's their way of holding prices or get a bounce. i think they'll get it out of coal. it didn't run straight to the upside on nat gas. but you did find an end. >> talking about production cuts, consol energy announced production cuts. mike, you've got options trade on consol. >> this is more of a met coal story. the thermal coal story remains under some significant pressure. there will be some switching for natural gas purposes. tim can probably speak to the fact that seaborn coal, we might be looking at the bottom end of the range for met come prices. so one of the things i would say is that even though there are some headwinds, you mi

think about freeport, cheaper and it's got potential to have a higher yield. why?se they keep raising the dividend. i'm going to nick, also in my home state of new jersey. nick? >> caller: nick from wayne, new jersey, boo-yah. >> boo-yah to you, partner. >> caller: jim, sony has been trading relatively low, do you think it can pick itself up again? >> do you use a walkman or an ipod? come on, my friend. >> sell, sell, sell. >> don't buy. >> sorry to be so in your face. let's go to richard in illinois. let's go to richard in illinois. >> caller: boo-yah, cramer, my friend kevin is real jealous right now. my question is about the stock sohu, is it going to make a comeback or should i get out? >> we don't recommend chinese stocks! other than baidu, i'm in sell mode for the whole country. why not? let's go to bob in texas. bob? >> caller: boo-yah from bob in corsicana, texas. jim, my wife, son and i love watching you daily. your insights and witticisms. what are your thoughts on deluxe corporation? >> i've got to tell you something -- >> don't buy. >> needs a catalyst,

i think it's getting oversold based in freeport. but i still look at fcx as far too cheap. there's plenty of upside if you believe the economic decisions are getting better. >> i thought we were in times square. >> you go down there often. >> i'll bring my moraccas tomorrow. former executive greg smith slammed the firm's culture and identified in a "new york times" article this morning. lloyd blankfein responded soon after. i look at the bottom and see he's worked there 13 years yet never became a managing director. he quit after his last bonus which obviously wasn't very big. >> fair. i would say this and i read it completely different. i read here's a person that cares deeply about a firm he's been at for over a decade to write something like that fully realizing what the ramifications of that would be. nothing like a jerry mcguire moment. i don't think this is a disgruntled employee at all. i think this is someone who cares about the firm. i would agree with him. i think the culture is nowhere near it was when i was there from '95 to 2001. i think by definition you can't

a lot of news out there about freeport. this stock traded great. the gold miners finished up.rades that i'm in and trades that i believe in because they are valuation-based. the negativity on china couldn't be any worse than what it is and when you see the property prices in beijing and across china, we're getting some data that says that numbers are better and property prices are up a bit, that transactions are up. >> right. >> you have some of the stimulus. the only thing people know about china that they believe in is the policy, and i think you're actually going to get that. >> let's move on and talk about one stock that was a big winner in the first quarter. that, of course, apple. the stock down after a boutique research firm said new ipad sales might fall short of wall street's lofty expectations. let's welcome the man responsible for today's report, and you say it's time to get into the sidelines, and you say the new ipad is simply not as hot as prior ipads. >> correct. >> tell me the degree to which it's not as hot. >> the first thing you know you can walk into any ap

freeport-mcmoran showing how much the miners are getting hurt, down 4% and cliff's natural down 3% for coal. we haven't talked about yelp today, right behind maria, if you saw the logo behind her, down more than 10%, almost 11%. you have to remember, priced a 15, opened at 22, now below that open price. ibm, flirting with 200 a share, now above it by 11 cents, earlier hit 201.19. also talk about first solar down 6%. in the last year, down 80%. bounced off a little bit of a new low of 27.50 but still down 6%. consumer staples strong all day as simon mentioned, walgreen, jeep mills, at tree ya, cost co-. is 1% cost for at tree ya. i want to keep an eye on pandora. they make money at stifel nicolaus, could make money, it is up year-to-date. >> thank you very much for that. treasuries posting modest losses today as we wait that key employment data later in the week we spoke about. cnbc's rick sap telein chicago with the details on the trade. hi, rick. >> hi, simon. you look at these bench mark yields, i top to speak, a two-year, ten-year in the u.s. or ten-number boone number overseas, all

freeport-mcmoran, eaton, caterpillar, alcoa. you want to see the market's moving story, you have to resolve the global growth issue. what side of global growth are you on? what side of china gdp are you on? 8% or below 8%? this is where the battle is being fought right now and today the global growth forces slowly improving are the ones that are winning. the consumer index versus the cyclical index. the consumer index, one year, the big drop about european concerns, consumers have outperformed the cyclicals on the bottom line. they tried closing the gap back in january. and now looks like they're trying again to close that gap. that's where the battleground is being fought. i get calls about the vix. you'd think it was the most important index in the world. here's a two-day chart of the vix. yesterday they were out buying protection in the middle of the day. today, there's a little less interest. but notice the vix has been going up here mid-morning as we have seen the stock market go up, isn't that interesting? the correct way

freeport-mcmoran. >> it's a great company. here is the china story's been overblown as far as the pullback in the stock. everybody's talked about a hard landing. the company has pulled back. if anybody can make money in copper, this company can. they restructured debt and, again, a great entry point. and this thing could move. >> real quick, end of the quarter now we've seen a bit of turn, reshuffling of portfolios the last few days. moving to the second quarter, what kind of gains do you think we can get? do you think they've been front loaded essentially for this year? >> i think their front loaded but you can't argue with the steam that this economy has. so i think investors are going to be between a rock and a hard place. i think we'll have great economic data, but a slowdown in fundamental earnings. so i think we'll see a few more percentage points but nothing like the first quarter. >> stick around, tyler. we're not done with you yet. we thought we'd take a gamble on big risk stocks that maybe could have a big payoff. or

think it matters particularly when it's reinforced by the trade in commodity stocks things like freeport-mcmoranhich is pressing its lows of the year, it's also those commodity companies that are trading miserably, i think it matters. >> final trade next. cortez, thanks. our machines help identify early stages of cancer and it's something that we're extremely proud of. you see someone who is saved because of this technology, you know that the things that you do in your life, matter. if i did have an opportunity to meet a cancer survivor, i'm sure i could take something positive away from that. [ jocelyn ] my name is jocelyn, and i'm a cancer survivor. [ mimi ] i had cancer. i have no evidence of disease now. [ erica ] i would love to meet the people that made the machines. i had such an amazing group of doctors and nurses, it would just make such a complete picture of why i'm sitting here today. ♪ [ herb ] from the moment we walked in the front door, just to see me -- not as a cancer patient, but as a person that had been helped by their work, i was just blown away. life's been good to me. i fee

you have alcoa and freeport-mcmoran, but most steel stocks on either side of positive or negative. and most of the big mining names are down. coal stocks generally down. you saw brian talking about alpha natural resources. sue, bottom line is, yes, market's up, there are some things to praise, but i see a little wariness elsewhere in housing and global stocks. back to you. >> we'll talk more about that with our market guru in just a few minutes, bob. thank you. first let's switch on the "power lunch" power surge and drill down on the stories driving the day. stocks rallying on mr. bernanke's speech. he's not ready to abandon his easy money policy despite an improving jobs picture. kelly evans has the fallout. >> the fed chief certainly seemed to leave the option open saying more stimulus to boost the economy may be need today keep the unemployment rate from staying permanently high in something that's known as historysis. >> further significant improves will require more rapid production and demand from consumers and businesses, a process that can be supported by continued accommod

. >> what do you do with a bhp or a rio tinto, stocks that are -- >> or freeport -- >> anything that's affected in the copper trade? if the world's largest user of copper is going to slow, you want to stay out of those names? >> i think you do. i think you take pause on that i've seen much of the price rise here in the fall of 2011 early in 2012. inventories are tight. but we've gotten the move in terms of price action. the risk right now to staying aggressively long. i don't see it. >> scott, let's give a little credit to abigail doolittle on friday. we mentioned the breakdown, it was obvious when you looked at the chart, but no one was calling for this type of a pull-back this quickly and that's what happens with these markets. obviously you get a little whiplash. but still the chart looks very challenging. >> what happens is, is grasso, you know this as good as anybody. it's that the technicals can tell one story, right? when you get the technicals and the foifrt fundamentals lining tell a similar story, that's when you get a potential real move in some of those names. >> the other

when we look at big cyclicals which are short something like freeport, people say i buy it because it's cheap. you don't buy a cyclical when it's cheap and margins are coming down like this. before you know it the stocks are getting down when it get more expensive. >> where are we for the week? stocks are on track for the worst week of the year. equities are still intact and you can find the proof by checking the charts. let's bring in michael harris, director of trading at campel & company. michael in, terms of what you see for the s&p 500, where do you look first for clues? >> our systematic trend following models have three distinct time horizons. as i look at chart, the first thing i see is the one-year lookback which is firmly in an uptrend and has been for some time now. if you circle in on the three-month trend, it's even stronger, and can you barely see the one-month trend, but it's almost in line slope-wise. the key here is that all three of the lookbacks are all pointing to the upside, so this is a strong trend, and we see it to continue. >> is this highly unusual to see this

potentially higher interest rates, but today it's putting pressure on commodity and commodity names like freeport-mcmoran, for example, and gold stocks are down rather notably, in fact, and many of the gold stocks are at 52-week lows. mining, one of many gold stocks, been a miserable six months and alcoa to the downside, the other factor is the interest rates, the ten 10 and 30-years are higher. this is all affecting thinking in the stock market. finally want to know the big player in the etfs the one that everyone is talking about, the tlt, the long-term bond, the prices moving down here to the lowest levels since we had back in october. that's what's moving the markets today, tyler and michelle, back to you. >> bob pisani, perfect segue to the breaking news, $30 billion of 30-year bonds up for sale. how is it doing? >> the yield, 3.383. it's straight up 1:00, pretty much right there 3.38 that was the high-yield, low price of the day, it came in right where it was tradele. indirects 39% versus 31% ten auction average. bid to cover a little above average, 2.7 versus the ten auction average of 262. i give

vanished somewhere between freeport, bahamas, and the port of palm beach.erson to see her, this man, her boyfriend of eight months. he says at 1:00 a.m. he that's saw her at a gift shop while he went to the casino. he went to bed after that. he searched the ship himself the next morning when she wasn't this the room. by 8:00 a.m., he let the crew know she was missing. her sister believes that he may not be telling the whole truth. >> i don't think it was accidental. she didn't drink. she couldn't have just stumbled and falling off board. >> reporter: police have not named him a suspect. the woman herself had consulted a private investigator. >> she said her boyfriend was extremely controlling and need to know every move of every minute of the day where she was. >> reporter: her sister says that her family never met golshani. this cruise was to be a final litmus test for the couple. the fbi says it's on the case but won't comment. >> we're struggling to understand what's going on. >> reporter: golshani has not spoken with the family. he said i haven't open s

then a walking tour of freeport with neil johnson. and on american history tv on c- span 3 sunday at 5:00 p.m. eastern from barksdale air force base, a look at 9/11 and a history of the b-52 bomber. also, visit the founding fathers autograph collections at the louisiana state exhibit museum. and from the pioneer heritage center, medical treatment and medicine during the civil war. shreveport, louisiana, this weekend on c-span 3 and 3. -- 2 and 3. >> if you had said in 2006 the world would be begging for the u.s. to use force in the middle east within three and a half years, everybody would have said you were crazy. >> robert kagan is not only an adviser to the romney campaign but also serves on secretary clinton pose foreign-policy advisers aboard. >> what i have been writing for years is that there's a lot of continuity in american foreign policy, a lot of a broad consensus. i think what you are seeing is the kind of consensus that exists in the foreign-policy community and there's a lot of overlap between the two parties. >> more wi

if you take a look at what's happened to the big cyclical names this month, freeport, eaton, caterpillarthe market leadership? why have we had this fairly flatish move sleer? if you look at consumer stocks, the more defensive names have been the ones that have been moving up this month. pfizer, safeway, pepsi, colga colgate-palmoli colgate-palmolive. we've got to resolve that conflict. is there going to be fairly decent global growth? here's how you can watch the whole thing play out. this is the consumer versused cyclicals for the year. there's your cyclical index that's dropped in the middle of last year, concerns on global growth. specifically on the great slowdown in europe. there's your consumer names and that's the gap that's been going through, we've been playing all out with. it narrowed a little bit in january when there was some optimism on global growth as we've been a little bit uncertain about just what direction are we going on china, on europe, and even in the u.s., that gap has stayed very wide. we've got to close that gap if we're going to get any real kind of growth her

. >> freeport bounced the other day. it's a charitable trust.ook, copper is the lme, the london metals exchange, copper inventories are lower. do i want to say this is a great opportunity ahead of china cutting? i think in a few months, maybe in a few weeks we will. the great rallies we've had in the united states have often been the precursor has been the fed saying we have to have rates come down. >> melissa you referenced the european numbers. i'm more concerned about a european slowdown. china is still a poor nation, average income about $4,000 a year. gnp per person is 125th in the world. europe is what worries me. >> isn't the notion that the eurozone is going to enter a recession or severe contraction, isn't that a known fact. >> there's two eurozones, germany and somebody else. i'm going to throw france into the privilegecy this. >> you're throwing them under the bus? >> l'autobus. >> they're saying this is an opportunity maybe there will be growth sometime in the future and also a check on fedex, which reported its numbers. i want to ke

copper may be sick but there's a wall street firm that likes freeport. >> i think this stock can go higher did something with ebay sorta kinda. >> there was a short-term buy list. >> is this a sell? >> no, no. >> but they took it off the short-term buy list. >> i would tell you once again that this is a paypal plight. work the company. >> look, peot to own a drug stock that has a good yield so they seize on that one. they have a good buyback. >> how j bill circuit does. >> a lot of people felt this quarter was weak. it's all about the expectations. the expectations were darn good. >> and you've got the ceo on "mad money" tonight. what's the main topic? >> research in motion. they have got a telco business that's not so hat. john hamm right there. >>> existing home sales examining 10:00 eastern time, that is in moments. "squawk on the street" returning with more home sales data. and jim, he's handsome. stick around. ♪ when your chain of supply goes from here to shanghai, that's logistics. ♪ ♪ chips from here, boards from there track it all through the air, that's logistics. ♪ ♪ clearing cus

you want to be in the freeports and american express. >> in the old days, the only reason to buy a stock to get dividends. raised at 12% a year and like six years the dividend -- >> ahead of inflation. >> and then suddenly -- >> hopefully the stock would reflect that. >> the big share repurchase plan sort of came back in the '80s and '90s, tax rates and dividen dividends. it's been very badly exercised. you don't get the cash. you have to wait for management to release it to you when they feel like it. so we're putting a lot of pressure on our companies to make those dividends happen. >> you are? >> absolutely. >> if you think about it, let's stay a stock doesn't pay a dividend, buying 1 billionth of a can company that with no cash throw coming, that's a big leap of faith to owning 1 is billionth of a business. hopefully they're reinvesting t it. why would you even buy it if there's no hope? only if you could sell it to someone else for a higher price. >> apple. >> i'm thinking about apple and things like that. owning a billionth of a share. >> are you convince that had will be a dividen

on a range, six-month range between these two stocks, relationship freeport has been oversold.a fair company. next pair trade, in russia. you want to be maybe country neutral. maybe even em neutral. buy vmp. sell mtb. mobi people are looking for these inefficiencies, mel. we're stock pickers. this is twha we look for. we look for opportunities where we can play on fundamentals but also have some of your downside hedged and find great opportunities to get the dispersion. >> the other pair trade as a gold miner, buy gold fields. sell harmony. if you buy one copper miner and sell another aren't the concerns, for instance, concerns about china slowing, don't they hit all the miners across the board? how are you hedging if you're exposed to two miners on a long and short side. >> this morning's comments by bhp about china hit steel miners, iron ore, coal. i think the gold miners are getting hurt by something different, global strength. dollar strength. gold as an asset class is getting hurt. the metal is down. miners have underperformed. again, buy the miners and buy them relative t