s&p capital iq's matthew miller upgraded the stock today to a hold from a sell bumped its price target by two bucks to $12 a share. matthew joins us live from denver. matthew, great to have you with us. >> thanks melissa. thanks for having me. >> was carl icahn the tipping point for you? >> that was part of it definitely. i think that the announcement from freeport mcmoran to cut capital costs and also reduce their copper supply costs by curtailing some of the higher cost production was just as much of an aspect of the decision to upgrade from a sell to a hold. and also increase our target price by $2 to 12. >> what do you think or what do you want carl icahn to do? it does seem that freeport was acknowledging some of the troubles it has facing it and therefore cut its capital spending and et cetera et cetera. what do you think carl's going to do? >> that's a great question. i think that what i see in the stock is really that for me this is as much a call option on the recovery, the long-term recovery in copper prices and oil prices. and i think that carl icahn can accelerate the right

home of matthew miller. wall street is trying to gain its footing to get

home of matthew miller. wall street is trying to gain its footing to get back on solid ground. stocks advancing after the steepest losing streak in four years. let's check the boards of the s&p 500, jumping at the open after a 3% rally on tuesday, evaporated in the last hour of trading. right now the broader market is up eight point 5%. the dow jones industrial average is also trading higher today, up 260 points at 15,900 25, a gain of 1.6%. the nasdaq is also in the green on this wednesday, up nearly 1.5%. nymex crude today is flirting with the $40 a barrel mark. at $39.13. it is down almost half a percent , trading at that level following yesterday's recovery from the lowest level since 2009. brent crude of a quarter percent. ignorers continue to gold as a safe haven, the focus instead on the prospect of higher u.s. interest rates. goal down one and a quarter 1001 hundred $24.70 and outs. at bonds in look the u.s.. a continued selloff here. the two-year yield up 0.66%. the 30-yield at 2.9%. basis points. take a look at currencies. some dollar strength against a bigger basket.

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>> matthews challenges miller's position in front of a live audience. >> i wish i was over there, where a little closer up into your face. >> this idea that somehow his face in my face would be somehow intimidating. and then -- somehow that would be almost a -- a aggressive move toward me. it was really hilarious. >> you believe, senator, truthfully, that john kerry wants to defend the country with spit balls. you believe that? >> that was a metaphor, wasn't it? you know what a metaphor is? >> i said a metaphor for what? metaphors have to be for something. what are you actually saying here? and he just got very angry at me. >> i think we ought to cancel this interview. >> well, i don't mean -- >> playful banter explodes into an old-school challenge of honor. at 20 paces. >> get out of my face! if you're going to ask me a question, step back and let me answer. >> senator -- >> you know, i wish -- i wish -- i wish we lived in the day where you could challenge a person to a duel. now that would be pretty good. but don't ask -- >> i need that, senator. >> i got the feeling that he was serio