morgan stanley's adam parker will tell us what's behind the conversion.ng his target prices up. >>> also, nfl teams are getting ready to make big investments in college players at next month's draft, but the league is about to make its own investments that could score a big return. a top nfl executive explains why the league is kicking off this partnership with a private equity firm coming up later on the "closing bell." [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fid

among them, emilie parker killed by adam lanza. an extraordinary meeting, robbie parker and his wife sat down with adam lanza's father. he joins me now. before we talk, i want to reppla video you just released in memory of emilie. it says more about the creative, charming, beautiful young girl that she was than any amount of words could do. ♪ >> okay, emilie, tell me what your favorite color is. >> pink. ♪ ♪

i didn't that like so many of the loudest bears out there like adam parker, nice guy, morgan stanley, have just turned bullish. it did bother me that alan greenspan came out last week and said the markets do not reflect irrational exuberance, making fun of himself during the '90s when he said there was irrational exuberance when the market was going up and the market proceeded to rip again. wrong before, wrong again? i didn't like that meredith whitney widely known as a bear on the banks came on air and said she liked them very much. a couple of people who went negative on our air admitted they were wrong and got more positive after a big move up. not what you want to see. look, let's accept the fact that all these are about investing with irony, the idea that the wrong people getting positive might mean that the right people should skedaddle. not very scientific. more anecdotal. last night i said ben bernanke should stay easy because he didn't want to repeat the mistakes of the 1937 after we had nearly worked our way out of the great depression. he seemed more concerned than most tha

adam parker, who's been a real bear, comes out and looks for 1,600 now. that's why the market is pausing, in addition to cyprus. you never know what the reason is going to be. i'm light in exposure now. but if the market does sell off, i'll add back, or it stabilizes. >> joe terra nova, bernanke has your back. a real buyer today of the stock market? >> am i a buyer of actual equities, yes. i am long. am i seeking protection send sunday night via of the derivatives market? and as we set here, i'm getting stop the protection. back to bernanke. i think what's important is when is it exactly the 85 billion monthly qe purchase program will end. i think you will see an acknowledgement the economic data has been much better in march than the last meeting on january 30th, when it was actually decelerating economic data. in terms of risk assets, i don't think it will reverse the uptrend in the dollar. i don't think you'll see a large move in u.s. tenure treasury yields. and i don't think it jump-starts gold. >> we had the scare yesterday. maybe the scare isn't of

i'm reminded yesterday, a high-profile bear on wall street, adam parker, has turned bullish now. and his reasoning is that the fed's impact on the markets was just greater than he anticipated. is that what's going on with your work as well? that the fed's monetary policy, very easy, has wreaked havoc with your analysis of this market? >> absolutely not, bill. i don't feel that way at all. in fact, i think i called you one or two days after the interview, or sent you an e-mail saying, this is a long cycle. this is 2 to three years. it's been rather exacting over the past century, but the cycle actually goes back to 1836, bill, 25.3 years. so we're within a half a percent margin of error right now. to me, this whole federal reserve thing is fascinating. because it's like, i don't think i've ever seen a greater disconnect between what's happening in our market and what's happening in our economy. >> exactly. >> who said "exactly"? >> i did. exactly right. >> kenny, yeah? >> let me ask you in, in terms of today, for example, mid-cap stocks hit act all-time high. transportation's down

in fact, your guy, adam parker raised his s&p target. >> he's looking for 1600, year-end.re. basic change has been in a p.e. multiple, not so much in the earnings. we say buy mexico. we say buy japan, hedged equity. we say buy health care. we say buy the housing stocks. look at this chart here. >> you have a new report out. >> now, the housing stocks have come up. these are the stocks, maria, that have come up 150%, but they're still 50% below their old peak. so we think the low-hanging fruit's been picked, but go and pick some mid-hanging fruit now. >> what about earnings? are we going to see disappointments like we saw this week? oracle, fedex, and does that impact the broader market? >> it's very interesting you say that, because the options market would say probably yes. fedex is a pretty big surprise, right? and ahead of that, we saw a lot of people positioning with put spreads, positioning with hedges, and now people are asking about the overall industrial sector? is that something scary? we're seeing people hedge on that and on energy, too. >> fedex really surprised

would assume that most morgan stanley clients would be interested to know whether or not you and adam parker had lunch occasionally, or if either one of you will ever be able to persuade the other that this economic up tick is real, or that the bear case for equities remains intact. how is that going to shake out? >> hey, i've got the office next to adam. we talk all the time. and i think, you know, he did. >> what's he saying, talk to the hand? i mean, you know -- you sound a lot more positive than he's certainly been over the past 13, 14 months. >> look, i think in retrospect we got more kick in the equity market from quantitative easing. the kick coming forward is from a better view on the macroeconomy. >> steve? >> well, what i think, by the way be we didn't talk about this with the traders, is that the market might assess this out ahead of time. they may have been following the optimistic data and seen -- they may have been really on this number, looking for 1% growth. vince, the main issue i think right now is sequester. you can't take money out of the economy the way we're doing and i

of course the context to this all when you focus on amorgan stanley is adam parker had been probablyiggest bear on the street now becoming bullish. are the strategists getting it wrong at this point given the news out of cyprus? >> i think they probably are. i would have to say yes on that. i bet most of these were done well before cyprus hit this weekend. probably had all their models done last week, it happened to come out. so -- >> dp they were to run their models again and they put in the cyprus -- >> no. i don't think -- my point is that they wouldn't have probably put those out tomorrow. in other words, if the information came out. i don't think you can put something in a zero or one for cyprus at this point because we don't know what the outcome's going to be. it's bad in general but we don't know how it's going to filter over o'to the u.s. >> but is it a testament to the fact that nothing matters except ben bernanke? >> and that's what's scary about this. the s&p going into friday was at historic highs and volatility was at historic lows. if you look at implied vol, below 12,

big bear, at morgan stanley thrown in the towel, adam parker, to 1600 up from 1424.g the bell at the top? doesn't feel like emotionally wide trading ranges we're feeling with the markets right now. ashley: yeah. >> doesn't feel like so much of a white-knuckle ride right now. tracy: no, it doesn't? >> are we operating in a air pocket? we'll talk about that. most unreconstructed bears are saying, uh-oh, we may have miss the i had roo. they're feeling kind of bad. tracy: economic data blows my mind. i can't be the only person feeling this payroll tax. i just can't. i feel like the surveys say i am. ashley: we had people say consumers just brushed it aside. >> taking it in stride, right? yes. i know what you're saying tracy. tracy: i'm not. >> for a lot of families out there, i hear about it. we all felt it. hey, the numbers are coming in. tracy: god bless everybody else, emac, thank you very much. >> sure. ashley: elizabeth, appreciate it. more now on consumer spending. more feeling better about the economy as well. could it signal a pickup in economic growth this quart

among them, emilie parker killed by adam lanza. an extraordinary meeting, robbie parker and his wife sat down with adam lanza's father. he joins me now. before we talk, i want to play a video you just released in memory of emilie. it says more about the creative, charming, beautiful young girl that she was than any amount of words could do. ♪ >> okay, emilie, tell me what your favorite color is. >> pink. ♪ ♪ ♪ somewhere over the rainbow way up high ♪ ♪ and the dreams that you dream of once in a lullaby ♪ ♪ oh, somewhere over the rainbow bluebirds fly ♪ >> emilie says the hardest thing about being a kid is cooking by herself. when she grows up, she wants to be a cowgirl. ♪ happy birthday to you happy birthday to you happy birthday dear emilie happy birthday to you ♪ >> i found that unbearably poignant to watch earlier as i did just now. i can't even imagine what it's like for you. yet it's so powerful because as with all the children that lost their lives that day, it just brings it home, what happened that day. >> these were just yo

. >>> still to come on stock, adam parker.ness courtesy of where are fib's bill bunkerberg. but squawk is next. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's th

and musical performances by bryan adams and graham parker.of paul simon. >> we're going to show a clip? >> jimmy: we're going to show a never-before-seen clip from "this is 40." >> it's something that got cut out of the movie, which is robert smigel and annie mumolo having dinner with leslie and paul. >> jimmy: all right, very good. here's a deleted scene from the "this is 40" dvd, which is out this friday. >> i have to go to the bathroom. >> honey, you're a big boy. you can go by yourself. you know what to do. >> you can go by yourself. >> you told me if i go to the bathroom alone, i'll get kidnapped. >> not here. no one's going to steal you here. this restaurant is zagat rated. >> yeah, but i have a weird feeling. >> like what? what kind of feeling? >> poo feeling? >> like poop? >> poo feeling? >> like it's coming? >> no, i think it already came. >> you pooped just now? >> just now? >> right here at the table? is it one piece? how many pieces? >> is it like a ball? you know, a little hard ball you can throw? >> it's like water. >> okay, you

alissa parker met with adam lanza's father - peter - and talked to him about his son's medical historye newtown shooting massacre joined the vice president and new york mayor michael bloomberg today. vice president joe biden is pushing an assault weapons ban and limits on ammunition capacity. one parent reacted to tuesday's move by senate democrats to drop the bill from the gun-control package the senate will debate next month >> my son's life was taken from an assault weapon that no child deserves this. quite honestly, i am really ashamed to see that congress does not have the guts to stand up and make a change to put a ban on these types of weapons and no personal background checks. >> catherine: earlier this week, senate majority leader harry reid said an assault weapons ban didn't have enough support to pass the senate and would not be part of a larger gun control law. it still may be voted on as >> on day two of his middle east tour, president obama took on the deadlock in the israeli-palestinian peace process. he spent time with israeli prime minister benjamin netanyahu and pales

mother alyssa byrne parker met with adam lanza as father peter lanza for in our hour and asked about dical history and other issues. the parkers six year-old daughter, emilie died in a shooting rampage. the senate has passed a huge spending bill to fund the government through the end of september. the bill will avoid a partial federal shut down at the end of the month. about today in the house with the measure to the president for his signature. it includes funding for the day-to-day operating budgets of every cabinet agency and another $87 billion for military operations in afghanistan and iraq. >> recordings have surfaced of an anti-gay tirade by boat musicians michelle shocked. it was during a sunday night performance intemperances go. >> i am sick of christians and filled with hypocrisy hiding behind a symbol of all crossed. >> after the ranch, the clubyoshi's pull the plug and ended the shows. since sunday, at least 10 venues around the country have canceled shows, saying they disagree with shocked comments. stock issued a statement. >> california's lieutenant governor is weighin

emily parker was one of 20 gunned down in connecticut in last december. he talked about meeting adam when you walked into the room and there is the father of this young man who took your daughter's life, what goes through your mind? >> one of the main reasons that i wanted to speak to him, i wanted to speak to him as a father one father to another father and i understand that despite the circumstances he lost his son and that he needed to grieve that as well just as much as i needed my daughter so i wanted to express those condolences to him and i felt we were able to do that for each other. >> wow. today in newtown, connecticut, more than 60,000 are expected to gather for the sandy hook run for the families. money raised from that run will benefit the families, victor. >>> new video surveillance video has been released of jodi arias from 2008, this is during the inteogation interview, cameras were recording arias' movements the moment she found out she was being charged with the murder of her boyfriend travis alexander. listen to this reaction. >> the grand jury indicted you. >> it'

recently the father of six-year- old victim emhe lee parker sat down with the father of the shooter, adamanza. >> i wanted to speak to him as a father, one father to another father, and i understand that despite circumstances that he lost his son, and that he needed to grieve that as well just as much as i needed to grieve my daughter. >> a spokesperson for the gunman's father, peter lanza, says he was touched that the families of the shooting victims are reaching out to him. he says there is a deep level of appreciation. >>> major league baseball is planning to honor the victims of the deadly elementary school shooting massacre in connecticut. the organization says all teams will dedicate their opening day to everyone impacted by violence, players, managers, and coaches will wear a special ribbon patch and stadiums will observe a moment of silence for the 26 people who lost their lives. >>> the search for a gunman on the university of arizona campus has been called off. tucson police got a 911 call yesterday about a man with a rifle in the administration building. officers evacuated stud

parker's daughter emily was among the victims at the sandy hook elementary school. now he's talking to piers morgan with his emotional meeting with the father of the shooter, adam lanzais young man who took your daughter's life, what goes through your mind? >> one of the main reasons i wanted to speak to him was i wanted to speak to him as a father, one father to another father. and i understand that despite the circumstances that he lost his son and that he needed to grieve that as well just as much as i needed to grieve my daughter. and so i wanted to express those condolences to him and i felt like we were able to do that for each other. >> what a heartbreaking story. you can see the full interview "piers morgan live" later tonight, 9:00 p.m. eastern only here on cnn. >>> up next, we'll be making a bit of a turn. some scientific comparisons? wolf's ncaa brackets put up against the president's picks. let me tell you, it is not pretty. ing customer needs... to meeting patient needs... ♪ wireless is limitless. [ female announcer ] from finding the best way... ♪ to finding the best catch... ♪ wireless is limitless. to prove febreze can keep this car fresh, we loaded i