. >>> ouch, alcoa.arnings season starts on a sour note, dashing some hope that the profit recession is coming to an end. > lasting damage? from the pinto to tylenol. is this different for samsung? those stories and more tonight on "nightly busine" r tuesday, october 11th. >>> good evening, everyone. and welcome. one of those days on wall street. oil fell, rates rose, the dollar climbed, health care, which had been a market leader, retreated. and the earnings reporting season got off to a lousy start. taketogether, it was a recipe for a down day, and that is exactly what we got. the mainly indexes all falling 1% or more. the dow jones industrial average off 200 points to 18,128. the nasdaq declined 81, and the s&p 500 was off 26. >>> a shadow was cast over the broader market when alcoa reported weaker than expected results to kick off earnings season. the stock fell 11%. its worst day in more than seven years. and this was the last report for alcoa before it splits into two. morgan bre dives deeper into

it's the same story with alcoa. united technologies really screwed things up with the lateness of their product. you know, with the gear turbo fan, which was so important to their profitability. greg hayes made that really clear. it hurt everybody else and hurt alcoa, but i think that we can find some good things in alcoa. i was disappointed. a small position, hope it gets bigger. three for one split so it stays in the s&p. i thought the commodity side wasn't as bad. i like the cat coal because i do think it's the cost savings. doug has done a good job. >> we'll talk to klaus in a few moments. we'll get cramer's mad dash, fake another look at the premarket. more "squawk on the street" from nyc is straight ahead. from long island to buffalo, from rochester to the hudson valley, from albany to utica, creative business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive. let us

lauren: alcoa expected to report its first jump in earnings in over a year. nicole: cleveland and his minions a step closer to the world series if they see that the boston box. monday night football field goal put the tampa bay buccaneers over the carolina panthers. >> tuesday, october 11th. welcome to "fbn:am," your first look at today's markets in the latest breaking news and what to expect for the day ahead. speaker of the house paul ryan saying he will not defend donald trump opting instead to devote his energy towards maintaining control of the house. trump fires back on twitter st. paul ranches spent more time of illegal immigration and not waste his time on finding republican nominees. republican national committee chairman says the rnc and the campaign are working well together in an emergency conference call, reince priebus told members nothing has changed in their support of donald trump. mark burnett, executive produc of the apprentice donald trump was hosted does not have the right to release under furniture in the reality tv show. mgm which owns

alcoa's most recent quarter was not as strong as expected. however, once this breakup happens, i think the newly created company could be a very intriguing story. on the eve of this big breakup, let's take a closer look with the current chairman and ceo of alcoa who will be taking the helm tomorrow after the split. welcome back to "mad money." i don't know if you agree with that characterization but i look at the company as primarily aerospace and some auto and a couple of other things. but the aerospace cycle we heard from being is very strong and we know from united technology it's strong. where does it play in the cycle. >> i mean this wouldn't exist if it hadn't been for aluminum. 90% of all aluminum alloys have been invented by alcoa. now we also play very, very strong on the engine. 90% of the components in the engine, we are making now. this is something that we've built up over the last years. >> fwhothere are many different plane companies. are you agnostic about which company? >> absolutely. pretty much we work with everybody who is

alcoa reporting third quarter results before the opening bell which is a big switch for alcoa. >>. >>alcoa's last set of results before the company splits in two. landon has all the details we're watching for. >> the street be expects alcoa to report earnings of 35 cents a share on revenue of $5.3 billion. beyond those numbers here are the three things you want to watch. first the split, alcoa plans to split into two publicly traded companies on november 1st. one called arconic. the second which will deem coulda name will focus on traditional aluminum operation. you want to listen for any additional information about that spin off. second aluminum prices, the u.s. midwest premium for the metal has declined materially. watch to see whether this will impact the company's primary metal segment. management guide higher profits in q3. global markets still facing headwinds specifically the supply glut in china. this comes as a senior aluminum official says last month the country would certainly build more factories to keep pace with its own demand and take a look at the stock. alcoa shares

. >> alcoa. so we like alcoa.t has really strong -- manageme has made some really good decisions in terms of splitting the company into two separate organizations that is going to -- should lead to good, kind of value play. going forward. unlock the value there. >> better it boy it now or wait until it splits. >> >> oh, no. >> now is the time to go. >> absolutely. >> you think this transformation is a good move. >> i a good move, and not just a commodity play. they are going to truly benefit from the growth in the aerospace industry. d that's a key component of their growth strategy. >> number two is a mid cap stock, we'll call alcoa big cap. it's called commercial metals. tell us what they do and why you like it. >> commercial metals primarily makes steel bars that reinforce concrete, masonry structures. we believe that it's a great they're also going to benefit from anti dumping tariffs that were leviedied this year against china so it's going to create a more level playing field for them here in the u.s. blocki

alcoa is interesting because it is splitting into two different part of alcoa. i don't like as much the commodity report but really got to dig down and get that story known by people. spend some quality time on it and let everybody in on it because my trust owns it, and i think alcoa is the kind of stock that the company has to come on "mad money" to really get the story told. all right. let's go to dennis in the virgin islands. dennis. >> caller: hey, jim cramer. i'd love to extend you a big >> i have to tell you, you know whose rum is great? wilfred frost brothers rum. i'm not kidding. i had it last week. it was killer. go ahead. >> caller: yeah, it's killer. actually on this island, we make our own rum. you can come here and buy it and it's duty-free to get it out of here. >> okay. it's called dummy rum or something. >> caller: you want to hear my question? >> no. i'm busy talking about rum. no, let's take the question. >> caller: let's take the time my question is viacom/cbs. wow, what an interesting story this is. this is my question, jim. is it a merger to

according to klaus kleinfeld, a slowdown on growth section of alcoa. melissa: scott, do you buy that? what is your market telling you? >> what i'm hearing and this is what i'm seeing, goes against what everybody is saying, how does that sound? for last five years we're waiting for second half recovery. every single start to the year we talk about the second half recovery. guess what? it doesn't happen, like we'll have four interest rate rises at the end of the year. at the end of the day they are guiding lower guidance. we don't have a strong enough economy. look what corporate ceos of america are doing. they're not expanding, not buying new plants, not buying new buildings. we don't see true growth. second half recovery, blame it on hurricane matthew, they will find a reason why. melissa: they're not just blaming it on hurricane matthew. a a lot of companies are blaming election. that consumers are waiting until january to spend because of the election? john, does that make any sense to you? scott i will ask you in a second. >> that seems like a ridic

we've got disappointing earnings out from the likes of alcoa, stocks deeply in the red. dow off 252 points right now. health care and energy companies are really a takinit on the chin. you have got the price of oil also falling, none of it good for investors. ashley is at the nyse with more. >> reporter: yeah, a lot of doom and gloom, perhaps. it's a tough day, as you mentioned, trish. the dow off 250 points. we know that alcoa came out with poor third quarter earnings which is raising concerns, but you mentioned oil. oil off, well, down 56 cents. we had a report out of paris from the international energy agency saying supplies are growing again and, of course, that's not very bullish for oil at all. also some officials in russia saying we're not really interested in cutting or even freezing production. so if you put those two statements together, the report and the statement from russia, this is what you get. the price of crude down only 1, only 56 centss, still hanging above that $50 mark. also let's take a look at the energy stocks, the big ones you know and how they'

alcoa stocks have dropped 10%. the aluminum maker reported andr-than-expected earnings revenue in the third quarter. the company has been closing down high-cost smelter the u.s. as it copes with low commodities prices sparked by a global oversupply. in november, alcoa will officially split its raw aluminum business from its faster growing sector supplying the aerospace and automotive markets. general electric has announced a more than $1.5 billion deal to power, a denmark toer of rotor blades used wind turbines. placerying to cement its in the fast growing wind power market. south africa's finance minister has been ordered to appear in of fraud.harges officials other investigated on allegations of misconduct when he was in charge country's tax collection service a decade ago. the be back in an hour with closing numbers on wall street. laura: we're taking a short break. do stay with us. úaaaaaa 10/11/16 10/11/16 [captioning made possible by democracy now!] amy: from pacifica, this is democracy now! >> look at the mi

alcoa, off by almost 5%.f 1.5% as samsung totally stopped producing its note 7 phones. it is a samsung loss and apple again? aluminum down 27%. third-quarter sales cut by $27 million, that stock getting hammered, dragging down peers as well. we heard from yet another fed president as trolls evans weighed in on what the central bank needs to do to satisfy the markets. -- charles evans weighed in. charles: i fluency communications will indicate that subsequent increases will be dependent upon seeing further positive developments in these inflation indicators. i believe this will assure the public the committee is seeking economic and financial conditions to support inflation and hitting 2% target. david: joining us now is mike's well -- is mike swell. monetaryo talk about policy. emco expects to were three hikes from the fed this coming year. what do you expect? mike: it's a bit challenging to forecast to par in the future in terms of that policy given there are so many variables. not only in how you forecast g

alcoa lowered their fath eed th quarter revenue guidance.alked about aerospace being slower here. you see both of them, alcoa is down, honeywell is down on friday, down again today. so is this a big problem across the board. right now, the street is saying they are quite happy with the situation, with the other sector. so energy, we're seeing oil over $50 a barrel. that's helping earnings ultimately. tech, super cycle and semis, that's helping tech stocks. health care very good earnings with pharmaceutical and services and financials. higher interest rates, expected to help banks in the fourth quarter. the hope is this will prevail over the problems with industrials. and look at these estimates for the fourth quarter. i'm talking the fourth quarter, not the third quarter, that's how the street is trading right now. we're expecting much higher earnings numbers from financials, health care, consumer discretionary, tech, believe it or not, even energy is finally expected to turn positive on the higher oil numbers, and the fact that the comparis

earnings started with alcoa that were disappointing.ot counting on earnings to be our next catalyst. have a wait-and-see attitude. liz: u.s. dollar at seven-week highs. we're looking right now at the overhang of a december rate hike which we're hearing might be at 70% probability, when you look at fed funds futures. while most currencies are weaker against the u.s. dollar, that certainly hurts oil. oil's retreating. larry shover at cme, you see all of these things crystallize and come together? >> the way i look at it right now. there are some things in the pile. we have earnings reports. the pile is growing bigger. we have sovereign yields that go higher. our yields go higher as well. we have to remember that's okay. we're seeing nominal growth. the dollar overshot but always does overshoot. it does affect the oil price. also traders are really worried about the growing chances of a complete 2008-style democratic rout of washington. it is okay if hillary clinton wins, that is built into the market but the market doesn't want complete d

and not just alcoa. the price of oil just went down. but deeper issues that could be lurking under the surface. that's why tonight we're going off the charts of robert marino. he happens to be my colleague at real money.com as well as publisher. he is furious about why the bulls might be losing traction. one of the worst days for the s&p. we have it look at this stuff. marino points out over the course of 2016 a bunch of high profile leaders seem to have fallen out of favor across a wide variety of sectors. every one we will cover. that's not a good thing for the market. even though this is a good year for stocks, marino point out that once beloved stocks like general electric, under armour, disney, starbucks, are all underperformers and all four names are learning what it feels like to be a lose per. what makes this worse is that marino fears that continued weakness in household name stocks could weigh on the entire market. why don't we start with one that everybody knows. let's start with disney. this is a weekly clart. this one years

and take a look at alcoa. missed estimates by 3 cents.ng to talk about that when "squawk" returns in just a moment. >>> coming up, hedge fund tighten leon cooperman gearing up for a big fight with regulators. the s.e.c. has charged him and his firm with insider trading. he'll tell us his side of the story at the top of the hour when he joins us here on the set. it's an interview you don't want to miss. right here on "squawk box." all the networks are great now. we're talking within a 1% difference in reliability of each other. and, sprint saves you 50% on most current national carrier rates. save money on your phone bill, invest it in your small business. wouldn't you love more customers? i would definitely love some new customers. sprint will help you add customers and cut your costs. switch your business to sprint and save 50% on most current verizon, at&t and t-mobile rates. don't let a 1% difference cost you twice as much. whoooo! for people with hearing loss, visit sprintrelay.com. >>> ever avoided scheduling a doctor's appointment b

the one two punch of honeywell as well as alcoa is pretty hard hitting. we know that long term travel projections are strong but we have a morass in the actual supply and demand of planes. both honeywell and alcoa recently told us that their near term adjustments to be made in aerospace, near term adjustments down in the growth rails. alcoa specifically talked about issues in the air frame and the aeroengine businesses and how they're not as strong as they were. now, you heard honeywell's ceo dave cote talk a more positive 2017 but it's a lot murkier than we thought just a few months ago. cannot lose this theme for long before you get a host of earnings disappointments and concomitant downgrades. could be some bad pin action coming up. in the last two days, china and aerospace have been laid out. what others have been challenged? how about cybersecurity. we've heard from both palo alto and prove point last week when we were in san francisco that cybersecurity is alive and well regardless of economic activity. then tuesday, forth net pre-announced a very d

industrial materials led losses after alcoa's weak earning results. the nikkei closed down 1.1% and the broader topix lost 1%. the benchmark has lost much of its gains with most sectors ending in the negative. following alcoa's weak results in the u.s., shares of steel makers in japan were also hit hard. both shares of jfe holdings and nippon steel and metal closed lower. the financial sector was also among the worst performers. ended in the negative. on the currency front, the dollar lost ground during tokyo trading hours. many traders were buying the yen as a safer asset. john ladue reporting from the tokyo stock exchange. >>> looking at other asian markets, the kospi ended up by just a fraction ending at 2,033. although samsung electronics continues to fall three days in a row, halted production of the smartphone following reports of it catching fire. in taiwan, the taiex closing at 9,252. some analysts say they may benefit from the stop of samsung's galaxy note 7 output. meanwhile the shanghai composite fell 0.2%. hong kong's hang seng also declin

alcoa impacting. >> bio techs got hit hard today. that didn't help.llumina and that index down today. >> we are expecting very good earnings results from pharmaceutical stocks, very good earnings results from hmos and remember discussion about possibility the house could go democratic. i think that is a possibility. hillary clinton said she wants more regulation of pharmaceutical stocks. we saw big farma names all down today. >> and what went up? how about the vix? did you see the big increase in the volatility index. a 16% increase. that is not even the peak that it hit today. we are at 15.6. >> we were talking about oil stocks. there is a big ipo tonight. first production stock we have seen in two years. they work over in colorado. here they are pricing over on the nasdaq tomorrow. we had oil over 50 is a big help for them. at the same time the market down today. this will be the first real test of the hot ipo market that we have had. >> down 190 on the close. proctor & gamble and save the children are celebrating international day of the girl. stay

alcoa. let's not forget alcoa. a great session. thank you todd, jeff and peter. jones industrial average as we speak is down 74 points. the early going this tuesday morning down 182. donald trump has got a problem with women voters. hillary clinton taking a big lead in the latest poll after his locker room comments. the double standard of the latch. the view cohost uses the word when discussing the women who accused bill clinton of misconduct. we will play you the soundbite. ♪ upgrade your phone system and learn how you could save at vonage.com/business stuart: done 69, almost 70 points back to 182. another headaches at the same for wells fargo. managers accused of passing stab to sell expensive overdraft protection. what is this all about? liz: is supposed to be a choice by law. when your checking account and strain in the bank steps in to pay 35 bucks on average. they're telling customers you're required to have as. what was happening, wells fargo, wells fargo is setting a bank account, summer fun putting money in the checking account unbeknownst to the custome

you could add alcoa too to the mix. what david cotte is doing is switching more to a software model, less of a hardware model. what he's add to go aerospace in 2017 should make it so it will not be as bad as the company that makes the fans for an engine, not bad as the company that makes the fasteners for an airplane. what's really important is that he talked up the turbo story, the auto story, which is very, very strong. i think he was very much lumped in by his own comments with the dover situation, with the ppg, with alcoa. but when you go through what was filed tonight, the documents filed tonight, you say, wait a second, they reshuffled this portfolio where they have a clear path to up numbers in 2017. i don't feel that way about a lot of the other companies that are mired in aerospace. >> this is a real shocker, jim, considering the market reaction to the initial presentation. what was your reaction when you first heard it? it almost sounds like the company is trying to save the stock a little bit. >> well, i thin

alcoa's stock sank 11% after the aluminum maker's third quarter numbers badly missed expectations. the dow closed down 200 points at 18,128 while the nasdaq was off by 81 points at at 5,246. this morning the futures markets are pointing to essentially a flat opening. chki now...in california -- the district attorney is ready to ....announce charges in the murders of two palm springs police officers. 26- year old john felix of palm springs is suspected in the shooting of officers jose vega and lesley zerebny on october 8th. officers were responding to a domestic disturbance call when they say felix opened fire... killing the two officers and injuring the third. a kinapped girl is now back with her family!rebecca lewis' father-- carrying her into a florida airport-- overjoyed memphis, tennessee-- recognizing rebecca and her abductor-- a former family friend.investigators say rebecca is okay. samsung - taking no chances. the company is sending fire- resistant packages to its customers as a precaution against possible fires from galaxy note 7's being returned. samsung says it is offeri

on tuesday, we hear from alcoa, official opener of earnings season. it will be a confusing quarter to say the least because the company is splitting into a proprietary engineering business and a commodity maker of aluminum. we own the stock in my charitable trust, and as we told subscribers earlier in the week, the breakup could bring a whole new class of investors into each segment. that should be positive. however, the concerns honeywell just raised about aerospace demand could definitely taint alcoa's biggest end market. i think the long term remains ultimately translate into aircraft orders. so any weakness derived from that line item might be a buying opportunity we also have the big yum brands analyst meeting on tuesday. now, yum is splitting into a fast-growing chinese business and slower-growing rest of world enterprise that i think will offer value and a potentially bountiful dividend. earlier this week, yum told you a story of subpar chinese growth, but you know, that makes the story a little less attractive. but i did think the company was

alcoa down 10%. bernstein initiates coverage of the airlines.tock in the sector they say to buy now. the blitz is next. across new york state, from long island to buffalo, from rochester to the hudson valley, from albany to utica, creative business incentives, infrastructure investment, university partnerships, and the lowest taxes in decades are creating a stronger economy and the right environment in new york state for business to thrive. let us help grow your company's tomorrow- today at business.ny.gov what powers the digital world? communication. like centurylink's broadband network that gives 35,000 fans a cutting edge game experience. or the network that keeps a leading hotel chain's guests connected at work, and at play. or the it platform that powers millions of ecards every day for one of the largest greeting card companies. businesses count on communication, and communication counts on centurylink. on a perfect car, then smash it into a tree. your insurance company raises your rates. maybe you should've done more research on them. for

just like alcoa.he railroads have been red hot, but after today's industrial disappointments, i wonder if the stocks haven't been divorced from the near term fundamentals. for example, csx, which reports after the close wednesday, has seen its stock climb from $24 to $31 since the middle of the june. got to wonder is that too much of a move? i bet csx is headed back down unless coal has picked up. key cargo. and that's a genuine possibility given how anemic the business has been so the comparisons could be very easy for csx. why bother to mention coal at last? because at last month's delivering alpha conference, david faber and i hosted a panel where one of the participants made a strong case for owning a company calls tech resources. that's a producer of what's known as coking coal, the kind that's used to make steel. prices have gone up a great deal for this type of coal of late. that only happens if we're seeing a pickup in demand, especially in chinese demand. you know what, that's in csx's wheel

earnings seasons kicked off today with alcoa with a bit of a disappointment.expect this is going to be another declining earnings season. i'm going to show you how investors are playing this through an etf called a smart data. it attracts certain features of certain stocks. this is a quality etf. companiesy it tracks that have the strongest of flow steady balance sheet. look what happens. we have a spike in july heading into another earnings recession. this has been 18 months of this recession. get those safe earnings from those companies. it's happening again which might be a bit of a bearish sign. here is 350ight million over the past seven days straight of inflows. has's the most of this etf ever had in its creation since 2013. mark: what a topical chart. can you beat it? thought i would give you something educational. it's really fascinating. of collection's in the united states and what interest rates have done and what the fed has done. in the last 30 or 40 years there have only been to election years where the fed has neither raised nor cut rates. int w

the alcoa number, kinds much saying the same thing. the fed wants to raise rates because it knows it will be out of ammunition for the next recession. >> 25 basis points to put back in the quiver? >> they have to start somewhere. i think brian is right and he touched on something important in this country. i talk to small and medium sized businesses. regulatory environment they are facing currently as well as the potential of tax increases if in fact we have a democratic president going forward is a big concern to them. charles: let's talk about potential form recession it's been edging up. it's not anywhere scary and let's not forget at least 1/5 of the country never came out of recession. but official recession, at some point it's got to be the real big a threat for the next president early on. >> with slow economic growth you only increase your odds. i think that's why the fed is so concerned here. they seat weakness and potential for this. they have got to have some ammunition. you can't count on the federal government with a fisca

the likes of alcoa disappointing. will that be a sign for the rest of earnings season?nd the pound weighing on sentiment. futures are called higher, pretty much flat but slightly higher. that may be because the pound rebounded. the fear that brexit could derail markets is helping futures this morning. we are up 1.16%. it comes after theresa may made a concession to parliament offering to let lawmakers debate her brexit plan. this is important to focus on. markets have rallied significantly on this. this is not a vote she's promising. all this move in terms of the pound falling, a lot of it related to the fact she's focusing on a hard brexit, not a soft brexit. if the rally is based on this, i think that's a slight overreaction. it's not a real concession, it's yeah, we'll discuss it. sure thing. if that's what the rally is based today, i think it's a slight overreaction, i think we found the bottom of the range either way. some kind of bounce back was justified. some kind of range or support level would be supported by investors given that we have seen massive depreciat

that's a nice versus say alcoa. i mean, look, alcoa, look, there's not a great quarter.y're splitting the company up which can bring up value, but if you said earnings season started today, you would be quite hard because j.p. morgan was great, citi was great, pnc was great, wells fargo was -- you know, not horrible, but i think that does matter. csx was very strong. i was shocked at how well they can do with coal being bad. and if delta follows through and doesn't add all the capacity, then you're going to look and say the bottom was reached in the airlines and you had to get in them, particularly southwest doing quite well now. >> traffic was well for september. >> yeah, i mean, that's important. >> citi's now the best performer on the s&p. >> really? >> along with bank of america, schwab, lincoln national, goldman, pnc. >> goldman? i've got to tell you, this bank rally is important. i've been very pro apple, we know that, right? i don't trade. morgan stanley is calling for a supercycle. that's the kiss of death when you hear that term. fourth quarter earnings raised w

>> alcoa had a bad day yesterday when they reported earnings. but, first of all, alcoa is not the bellwether that people like to focus on. but earnings warnings we have been -- the earnings warnings coming into this earnings season have been less than we have seen in prior quarters heading into the third quarter earnings reporting period. sure we had high profile names, but you see some high pronames giving an earnings warning. some will warn every year and they make the headlines. so if you go back every year, one of the lower numbers of -- >> we love alcoa. >> doesn't matter anymore. honeywell matters. honeywell rarely warns and that's what -- and then you have that backed up by the likes of an alcoa, by dover, by the likes of fastenal, by the likes of ppg. >> but those are all industrials. >> yeah, but -- >> it is a read on the global economy. 75% of the economy here is consumer. i wonder, what do you think? >> the industrial sector has shown -- has been an area of weak earnings since middle of 2015. technology is a sector where we're seeing

shares of alcoa after a disappointing earnings report.xpectations on the top and bottom line. stock is down 11 1/2%. making it one of the biggest one-day decliners into five years. that's the performance yesterday ahead of the split into two companies expected to be completed by november 1st. the latest e-mails of chairman john podesta, revealing a clear media bias. stuart varney joins me to talk about that. what did you make about the e-mail. stuart: it's not just media bias, it's unprofessional, low-end performance by our established media titans. did you know that cnbc's john harwood offered advice to the clinton campaign, he was a moderator. and veto certain quotes, hand over the writing to hillary and e campaign. did you know the boston globe coordinated with the clinton campaign how to put hillary clinton on their pages for the best presence in their newspaper. the list goes on and on. and it all revealed in podesta's e-mails about just how penetrating the establishment media was inside the clinton campaign. they helped it. they are

we talked a lot about honeywell and a lot about alcoa lowering their guidance.nd i think that's impacting them. but it's not spreading to other sectors so far. and of course utilities other than what's happening today telecom, real estate investment trusts and other interest rate sensitive groups overall remain under pressure. we had a very interesting ipo that happened over on the nasdaq, extraction oil & gas you mentioned earlier, 3.3 million, $19, wait the price talk was $15 to $18. this is the first exploration and production company in two years pricing above the range on a day when oil was down, on a day that was difficult for the markets. so with both of those things working against it, they still managed to price above the range. that is a significant victory for an oil and gas exploration company and significant victory for the ipo market which as you know generally has been performing better than expected recently. we'll see how that opens, it will be about 10:30 to 10:45 on the nasdaq we'll get you those first trades. meantime take a look at earnings

alcoa has a special technology. my charitable trust owns it in part because they have a very special technology that allows 3-d printing to be done in industrial instances. both of these are more promising than any of the consumer 3-d printing stocks that are currently out there. can i go to erica in california, please. erica. >> caller: hi, jim. the oracle of cnbc. i love you coining new phrases like people are cooky. got one of your books for my son james. >> thank you. >> caller: i missed the run up on expedia. for five days now, it almost went up 8% from below $117 to $125 today. is this due to the october 27th earning date, or did i miss important notes like increase in travel or other miracles? trading wisdom tells us not to chase a stock, especially after being up 8%. should i enter with a small position? >> you know, this is a very tough one because, erica, first of all thank you for the kind words. we have pushing this expedia nonstop that's because integral to owning inns in this country and hotels and all

alcoa starts down 11% after the aluminum makers badly missed expectations.arnings from eastern transport csx after the bell. the dow falling to 18128, the nasdaq sliding 81 to 5246. meanwhile facebook, twitter and instagram are pulling access to their data analytics company accused of selling information allowing police to track activists and hackers. the american civil liberties union says the firm allowed the authorities to sneak in through the side door to monitor protests. shares of samsung sharply lower this morning. now that it's been forced to halt production of et cetera latest smart phone. the galaxy note 7 was supposed to be a bestseller in the run-up to christmas, but some of the phones overheated, burst into flames. even replacement devices that samsung thought had been fixed seemed to catch fire as well. company losses could run into the billions of dollars. back to you. >> landon dowdy, thank you. >>> decision 2016 this morning. republican presidential nominee donald trump is fighting a two-front war with detractors on the left and within his o

i got a bunch of alcoa and don't know how it will shape up. >> i want you to buy more alcoa.t's at actionalertsplus.com. we own it for the trust. why? the split up is going to be good. i think that the aerospace side is not nearly as bad. they have some teething problems. i'm not concerned. mark in wisconsin, mark. >> caller: jim, my stock is bill barrett. >> no. it's a lagger. come on, man, we are much more interested in something like occidental which gives you the yield. i need to go to ron in texas. ron. >> caller: hey, jim. thanks for taking my call. >> no problem. >> caller: i just bought your book, get rich carefully. there's a lot of good insight in there. my question today is, jim, is i got some investments in ete and etp, and i'm considering selling or -- >> look, they're fine. we had an ete question earlier. etp is okay. my problem is i want more responsible management, which is why i send you to enterprise product. brody in utah, brody. >> caller: hey, cramer. >> yo. >> caller: booyah. i just want to thank you first by saying thanks for the opportunity. i'm callin

shares of aluminum giant alcoa fell 11% after the company reported earnings which missed estimates. a compounding effect also is the rising dollar and that's really on the back of increased expectations of a rate hike in december. but that's also rising dollar makes u.s. exporters a little bit more expensive and also a commodities price in u.s. dollars will be a little bit more expensive for any holders of other currency. so that's also compounding issues here as well. >> ramin, speaking of the dollar, we don't have a lot of data to go on this week, but tell us about where some of the key pairs are trading this morning. >> exactly. we have the ism manufacturing and services and jobs data last week. not that much to go on this week. but right now, dollar/yen, 103.41. up 0.8% against a basket of six major currencies on tuesday. highest level in over seven months. a lot of u.s. tech stocks get a large amount of revenues from overseas. and the stronger dollar may affect their bottom line. many are looking closely at how apple and the smartphone sector will perform in the light of samsun

then you get alcoa's numbers. we have seen a few other folks that have come out with numbers or projections -- >> honeywell. >> honeywell, and you start to feel a little bit less comfortable and then all of a sudden when we have seen the area that everybody has been piling into, technology and the selloff, that is a bit concerning. that started about three months ago. you look at some of the returns from some of the tech names, whether it's net app or go through seagate and all the various names and look how high they have gone so fast. you can understand that the rotation in the market is going to continue and right now seems like there is a big rotation, at least today, out of the chip names that have been on fire and out of technology that's been on fire. and been looking for other areas. energy had been very strong. little weaker today but wasn't as bad as the rest of the market so i guess you could hang your hat on that. that's where i have a lot of exposure right now. i looked at kroger's today. not because

however, the concerns honeywell just raised about aerospace demand could definitely taint alcoa's biggest end market. bright for travel, which ultimately translate into aircraft orders. so any weakness derived from that line item might be a buying opportunity we also have the big yum brands analyst meeting on tuesday. now, yum is splitting into a fast-growing chinese business and slower-growing rest of world enterprise that i think will offer value and a potentially bountiful dividend. earlier this week, yum told you a story of subpar chinese growth, but you know, that makes the story a little less attractive. but i did think the company was short on color about that disappointment. this analyst meeting could go a long way towards restoring faith in a breakup that i believe will unlock substantial value just like alcoa. the railroads have been red hot, but after today's industrial disappointments, i wonder if the stocks haven't become divorced from the near term fundamentals. for example, csx, which reports after the close wednesday, has seen its stock climb from $24 to $31 since the midd

earn season unofficially kicks off with the latest numbers from aluminum maker alcoa, the dow at 18329it is official, samsung is ditching its galaxy note 7 phone amid reports it catches fire, telling customers to shut the device down. the ceo says this is the worst cell phone crisis he's ever seen. but he says it's likely samsung will recover. apple stock is soaring to its highest this year in anticipation many samsung users will swap to the iphone. >>> 40 million americans have had their identity stolen, another 49 million know somebody who has. bankrate.com says many are putting themselves in harm's way with risky behavior. 42% don't check their credit reports on a regular basis. scott and laura, back to you. >> 4:48 right now. the republican party sticking by donald trump, but many top republicans are not. party chairman told members of the rnc they are fully behind trump. house speaker says he will not defend trump or campaign for him, but won't pull his endorsement either. trump says if more tapes of that nature are released, he will continue his attacks on the clintons. >> if the

alcoa's usually the unofficial start of the earnings season. that's going to happen before the expiration of that straddle. october is historically a fairly volatile month. you put those things together, add in maybe an election, and suddenly, you have a situation where it's hard to imagine that the market is going to be that range. here's the thing, though, folks, most of you probably already own stocks. you're already making the upside bet. a less expensive way to play would be to just buy that put. now you've got your straddle on. >> so carter, what do you see in the charts for the s&p? >> it's the same thing. we had that very tight range. 43 cents was not moving more than 1%. and then it was resolved down. we came in from labor day, straight down. now we're just back to the point after which we collapsed. i think we stay in the range. but regardless of that, it really is about asymmetry. there's so much more down side risk in my opinion than there is upside. >> and how much are you spending? >> 1%. >> that's kradiest thing. >> 1%. >> i star