barclays was able to pursue a solid foothold. we visited barclays trading floor, which of course was lehman's trading floor. the firm was doing well today. the asset management system was sold to blackrock, who becomes the largest manager of assets. the plays field has played quite a bit to fewer players, less ri risk, one year later, reflections from the street, and of course, larry and melissa, we're going to talk about what now? >> you know, in the tim geithner town hall yesterday, geithner said at least once, if not more, we must make regulatory changes to ensure and assure this will never happen again, quote/unquote. do you believe this will never happened again? >> no, i think as a society we get so comfortable with euphoria, and we just see bubbles happen. by the way, what's wrong with sort of, you know, boom and bust economies anyway. doesn't boom and bust economy, doesn't that introduce or open the door for people to make money? >> entrepreneurship. >> and the door for people to get in. >> that's a great answer. >> it lo

making barclays a formidable competitor on the world stage.s a strong foot for global deals, transactions worth $130 billion this year. diamond looks to capture more market share across an industry shaken to its core. over the last year, britain's barclays capital has integrated the pieces of lehman brothers it acquired. it was a prime opportunity for barclays, then its president to expand and grow internationally. i sat down with bob diamond to gauge his thoughts on where we are one year later. >> i think surprisingly the recovery began in china. earlier in the year. you and i talked about that. and that really lifted many of the stronger asian economies. but we've seen an economic rebound in france and germany and some of core europe before most people expected. it began in may and june. and i think when we get the figures for the third quarter in the u.s. economy, we'll see that the u.s. economy began growing again sometime around june or july. so still big challenges ahead in the financial markets, around what will happen specifically with

now behind the blue marquee of barclays capital.go it was under lehman's green logo that many unpacked their belongings, expecting they would not have jobs. but barclays would keep most of the 10,000 employees here, build its new network operations with senior personnel like jeremiah stafford. >> we prepared for the worst all week, watching the stocks slide. >> reporter: he was a bond trader, you recall, who spoke with us a year ago today unsure of what his future would be. but he remains here today. barclays ceo told maria bartiromo last week for many like jeremiah, this is a tough anniversary. >> for the people who work in barclays capital today who were part of the lehman operation, there is some difficult emotional when every single day you pick up the paper, turn on the tv and people are talking about the one-year anniversary of lehman in a negative context. >> reporter: as emotional it may be for those who remain, it's certainly to be a more difficult time for some 3,000 employees who were laid off earlier this year by barclay

fixed income, barclays capital emerges as a leader. barclays capital ranks number one in the market shares. number one in overall service quality in each of the component categories, which means sales quality, trading quality and research quality. i mention it, because one year ago, barclays acquired the lehman brothers assets. i just came back from their trading floor, amazing the prices that barclays has in the united states. >> that was a prime piece of real estate in times square, the video boards outside and the whole thing. >> the signs went up pretty quickly in times square. 25 minutes before the market closing. >> the dollar is at the weakest level in a year. is the dollar going to stage a comeback here today? is its weakness good for a global recovery, u.s. recovery? lots of answers coming your way. "closing bell" -- i'm rhyming everything.se lent times, you want a financial partner who promptly gets you... the information you need. at northern trust, our sophisticated technology... puts the most accurate information at your f

they didn't really want barclays to buy it. but all the element of a barclays rescue in the format of a bear stearns kind of deal were there. there were, you know, high level communications between british government officials and the americans if what they're now saying is is correct, then there was a shocking miscommunication, a failure of diplomacy at a very high level there because that i believe deal could have been done. >> rose: okay. should they have foreseen the consequences of not doing the deal? >> without question. i mean, i do... without question they should have seen it. and, frankly, in some cases they did see it and i don't think they knew what to do about it. meaning, going into that weekend going into... frankly, throughout the summer they were working and thinking about a lot of these issues. and yet clearly they didn't work hard enough. jim is absolutely right. when they hit that sunday, they ran out of options, but they only ran... they ran out of options because they decided that they didn't want to play a

it sold its investor global business, barclays global investor to blackrock. that's expected to close december 1st. now blackrock becomes the largest manager of assets with $3 trillion under management. we also talk about going forward. how are these guys investing now. where are the opportunities. certainly the playing field looks very different today. bigger government, less risk, less leverage. we'll talk about what change is going forward. don't miss our special presentation sunday night at 10:00 p.m. eastern time. on cnbc. we've got the closing countdown right after this short break.

lothar, it's a strange deal for barclay's, because they sit on the barclay's money, they're lending the money, what are they getting out of it? >> it smells of window dressing, really, to be able to account for these assets differently. they don't have to mark-to market. they lose the volatility. but thaimt, while they're not losing the downside, they're losing the upside. >> this is similar to what others have done, right? >> absolutely. this is what the determinan government did. so it's not completely new and bizarre. that is exactly how the german government plan worked a couple of months ago. nevertheless, it makes me a bit nervous. it's either that barclay's thinks they can use that money elsewhere or they're worried about the regulatory clampdown and they'll have to put up a lot more capital for anything volatile in their balance sheets. >> it seems now no one has any concerns about the banks at all at the moment. do you have any concerns at the moment? it's forced to raise the capital requirements in the u.s. and uk as well as european banks, which they don't seem to be keen to

what is barclays betting on now? not to mention citi's plans. goldman sachs, morgan stanley, and where they see the big opportunity. don't miss "one year later: reflections from the street." it's interesting to get their take. >> and also interestingly, it's sort of counterintuitive but you understand why almost to the ceo, they all even though wall street doesn't like regulations, they don't like to have anybody outside telling them how to do their business, i think they all recognize the need for some regulation because they don't want to go through that again, right? >> clearly, they feel and they would all admit, that the self-regulatory model did not work. there wasn't enough self-regulation, but i think there's also a concern, i think going forward people are not going to be taking on a lot of new hiring plans because they're worried about what's to come in 2010. cap and trade, higher taxes, and they're just sort of in this holding period to see what happens next. >> we look forward to it. sunday night, 10:00 p.m. eastern on cnbc. thank yo

i was going through barclay's accounts the other day. and if you have a look at their balance sheet, they've deleveraged by 25%. that's because there's quite a lot of money on the balance sheet has just disappeared through new regulations something called derivatives growth. i call barclay's ir. you can net one item up against another. that's my point about regulation. the problem is if they just introduce new rules, you can netting off the size of the balance sheet. we have zombie banks, that's accounting rule changes. it's fiddling at the margins and i'm in agreement with you, jim. >> hallelujah. >> julian pendock and jim rogers, thank you both so much for joining us. >>> president obama will speak outside federal hall in new york to mark the one-year anniversary of the demise of lehman brothers.. he'll be pushing congress to take action on regulatory reform in order to prevent another economic collapse. an administration official said the president will decry the hands-off approach to do irresponsible lending.g. president obama will b

sheikh hamad owns 12% of credit suisse and 6% of barclays. asked sheikh hamad about he felt about the state of the global economy. >> i think now we are done in terms of bottoming about the real economy i'm talking. i'm not talking about the market. the market could go 10% down, 15%. also what happened in the market was too much, too quick. that is little bit hesitating. i hope it doesn't go a whole lot down. we can see that settling, let us say settling market more. >> as this crisis has related to oil. earlier in the year we saw oil down to $32 a barrel and wild swings for gas as well as oil. what are you seeing in erm terms of demand picture right now? >> well, demand is there. what we don't want, speculation in the market. that is the big problem which raised the price to 150. i think if we go back to $150 we'll crash the market. if we go $35, we'll crash the oil industry and then we'll have a bigger problem in the near future in term of prices because demand is every year is growing. so it is very important we don't exceed the $100, we d

we heard from barclay's earlier on, barclay group, not barclay's. barclay telling us that they have seen the housing market stability continuing over the past four months of the year and that has sent shares of that company higher by 1%. amongsted the top gainers amongst the ftse 100 so far today. plus, bg group higher by 1.7%, in fact, at this stage. similar to the reaction sort of bp had big signs a few days ago. bg is performing pretty well today. patricia, how is it looking in frankfurt? >> it's looking better than earlier on. the chart behind me looks more dramatic than the actual move. we are flat line bing, but at least we are back into the green so far. it is a car sector rally and bmw is heading that rally up almost 6%, a as we speak, reacting to a strong buy recommendation to the commerzbank of scotland. it all looks quite good and they're coming to repay very quickly what they ever got from the estate funding and there are some flashes coming through talking about the regulatory environment of the future for the banking sector and i think

barclay's has agreed to settle at an early stage. these penalty res higher than what we previously knew of. maura. >> of course, we can get lots more news online or our who it. we have videos and blogs there today. go to cnbc.com. still to come on "worldwide exchange," european stocks pull asia higher on a flurry of the back of m&a deals. is now the right time to look for these deals? we'll find out. we're shopping for car insurance, and our friends said we should start here. good friends -- we compare our progressive direct rates, apples to apples, against other top companies, to help you get the best price. how do you do that? with a touch of this button. can i try that? [ chuckles ] wow! good luck getting your remote back. it's all right -- i love this channel. shopping less and saving more. now, that's progressive. call or click today. >>> hello. welcome back on tour our global equity markets with a roundup starting with rebecca meehan in london, adam in singapore and stephane in paris. becky. >> markets are up about 26 points, 0

we drill down on market action with larry cantor with barclay's capital and paul mccully. gentlemen, welcome. >> thank you. >> paul, how worried are you about the federal reserve so-called exit strategy? you are hearing people talk about the federal reserve winding down. what do you make of it? >> i don't worry about that scenario. what the fed is doing is appropriate, articulating the how of the exit strategy. they are not talking about the when of the exit strategy. the fed is going to be on hold for literally an extended period of time through 2010. so while the fed is talking a lot about the architecture of the exit strategy i'm not worried about that architecture being implemented any time soon. >> larry, what do you think? are you worried and how are you investing in this environment? >> yeah. i think it is a ways away before we have to worry about the fed hiking rates. i wouldn't necessarily say throughout next year but now through the end of this year and the first half of next year it is unlikely. in terms of inforvesting, that why we like u.s. equities. think abo

. >>> barclays says the feds will start hiking interest rates. that's cnbc.com news now and. >>> welcome to "the call." we're 90 minutes into the trading day. stocks continue into the green. we'll discuss whether stocks are a better play than bonds. >>> could there finally be an xat strategy from congress? this is "the call." we are cnbc. >>> stocks continuing to move higher as investors show no signs of being bearish. proctor and gamble, google, take a look at how they're trading. the dow is up 42 points. 9824 the last trade. the s&p up as well by about three points. the nasdaq also positive territory. >> we are slowly grinding higher. we're a point or so away from new highs of the year. how much cash is there on the sideline? you hear people every day coming on our air saying that. the answer is it looks like there's still substantial cash, but not as much as a while ago. how you quantify it, take the percentage of money market funds to u.s. equity capitalization. right now, it's about 30%. money market funds are about 30% of u.s. equity capita

we visited that barclays trading floor which, of course, was the lehman brothers. they did well after selling the global investor business, a asset management business of barclays to blackrock who is the largest manager of assets with $3 trillion under management. the playing field has changed a lot, fewer players, less risk and bigger government. as mohammed el erian calls it, the new normal. sunday night we look ahead to the opportunities in the next year. where is blackrock putting all of that money? what is they doing? don't miss our special frent tags, "1 year later, reflections from the street." now back to erin in washington. >> looking forward to seeing that, maria. thank you. >>> coming up, president obama's big stakes speech on health care, and how it will shape the path of reform. perhaps the single most important question facing our economy today. open up the harwood file. this is "squawk on the street." we'll be right back. >>> the single most important question facing our economy today, overhauling the health care system. there is no doubt about that.

. >> barclays, among the firms raising its estimates for gdp. where is the strength and this sort of positive spot within this economy, and where would you say are the weak spots, john? >> well, i think the consumer discretion probably has a little bit of upside from here, maria. the retailer has been pretty beaten down and they will be going into the fourth quarter with the spending season. i would perhaps stay away from the mid-size and smaller size financials. i think as larry summers of the white house would suggest, commercial real estate and commercial real estate related mortgage-backed securities still seem to be a little bit of a challenge. i think you want to stay away from the regional smaller banks. but the discretionary stocks may have a little bit more of an upside, because as confidence gathers momentum we look for consumer spending to follow. >> we have an overweight in health care. it's relatively defensive type sector. it has not performed as well. we're finding great growth coming out of those names. aller again and intuitive

meanwhile, rick, get this, barclays capital saying the market is underestimating the strength of the global recovery. in the quarterly report, i'm joined by larry on the program. we've been speaking with a number of world leaders during this week, where so many leaders are here in new york because of the cgi, because of the u.n. general assembly, and they continue to say this recovery is going to be muted at best. where are you seeing this growth that the market is underestimating? >> first we've already seen it in china and the rest of asia. if you look at every economic indicator out there, it looks like a v. we actually think that rapid growth phase is ending. in other words, you're going to see countries like korea slow down a bit. above-trend growth seen in europe now. the next place, believe it or not, is the u.s. the u.s. for the rest of this year is going to look much more like a normal recovery. >> i want to talk about the u.s. first i've got to get your take on europe here. because we did see positive gdp readings in both france and germany. >> right. >> a lot of people hav

i think some of your former colleagues are working with barclays, others are working elsewhere. what are you hearing from them? >> it's ironic that here we are on 9/11, the anniversary. i think a lot of the things that put us in a dangerous spot last year happened right before 9/11. and 9/11, you know, you had the fbi wasn't really coordinated with the cia, and the cia wasn't really talking to the alcohol, tobacco and firearms people. you had a horrible uncoordination in the bureaucracies of our government. i think the same thing happened here, where the fdic, wasn't really talking to the securities and exchange commission. when i'm talking to people on wall street, they really want a slightly stronger fed, instead, somebody has to be the quarterback of all these bureaucracies. hundreds of thousands much people in our government were supposed to be doing their jobs and they took their eye off the ball as well. >> the too big to fail has been criticized, obviously, with the government having to secure the lines of these firms. and yet some of the firms also are as big as they eve

barclays created a new index that include those rules. we're really just going with the best practices and index construction in managing index fund and really reflecting the fact that $1.25 trillion worth of mortgages and $200 billion worth of agencies have been taken of circulation and may be with the fed for many, many years ahead an the index should represent what's investable for investors. >> erin, one point. rick took out the dollar and shows it weakened on the statement. the value of assets priced in dollars, both bonds and stocks, went up on the statement. so it is not entirely clear if it is a negative for the nation of a whole that the value of the dollar should fall when the stuff you'd buy those dollars with also went up in value. just trying to make that point. >> and a worth while one. thanks so much to all of you. appreciate seeing you all on sunday. >>> we'll see if jim has -- we'll see what jim has to say about what he's buying. back with that and 230 miles to the gallon sounds great. that's what general motors says the

barclays ceo says lehman's acquisition has been transformational. >> for the people who work in barclayse part of the lehman operation, there is some difficult emotional when every day you pick up the paper, turn on the tv, and people are talking about the one-year anniversary of lehman in a negative context.t. >> as emotional as it may are for those still working here, it is tougher still for those 3,000 who were let go, many of whom are still looking for positions. but but clays arclays is startie again. they expect to add another 1,000 positions in am coulding months. back to you. >> that would be good news. tonight at 8:00 p.m. eastern a two-hour cnbc special event. one year later, the week that shook the world. we'll look back at last september's historical financial meltdown, where we are today.y. more importantly, where are we headed. it is a jam-packed two hours that begins tonight at 8:00 p.m. eastern time. >>> up next, european central bank president with some eye-opening comments. our steve liesman spoke with him exclusively. >> the dow has pared its losses. it's down about ni

this is barclays bank now so this is barclays that bought the remlants of lehman brothers of this is lehman brothersrading floor ed 745, seventh avenue. i am back at the scene, the same trading floor cry used to work in a notice than the corner office, i said who was tha man in the corner office? and steve said to me, that is bob diamond. i said bob diamond, the ceo of barclays capital? he caid yes. and palp things have changed. thingsave changed in the sense that you have lessons being learned hopefully. you now have the ceo of barclays capital right there on the trading floor with the best and the brightest, paying close attention to what is going on, not up on the 31st floor completely away fr the battle group and battlefield. >> i have one question. you may comment at the beginning this was the end of capitalism in america. what did you mean? >> not the e but capitalism has been changed forever because first and foremost you have this, the fed window, the federal government has now been assistinbanks through the imary dealer credit facility. in other wor you have investment banks

economist dean mi of barclays catal says that good news means it's "stea as she goes" for the fed. >> right now the fed's t priority is, is trying to wer the ra of unemployment. tryi to prevent deflationary pressures from developin we thinkhey will be successful on both frts. evtually, the fed will start to become more concern about inflation. but ght now the fed is really focused on fostering gwth. >> rorter: if you're an investor, low interest rat are good because they redu the cost of trading. if you're in the mket for a home, w interest rates mean lower mortga costs, and other stuff you buy on cret. but for most of us, healy economic growth mes companies adding to payrolls a that has yet to occur. still, eveon that front, economist jonathan bile of credit suisse, saythere are signthe low inflation-- low interest re environment is having a positive fect. >> we've sn a stabilization in labor inco in the last two employme reports. prior to tha you had ten straight declines this labor income measure which comnes private jobs a hours and wages. so tre's more than just the jobs and wag

i think i asked for a 20 to $30 billion bridge to get to the point where barclay's could go and do what bark clay's was around, moore, bank of america but they preempted lehman on that. the koreans were long gone by then. the fact that the fed came in and lent $50 billion that afternoon -- >> wasn't it secured by jpmorgan? >> no. that was bear stearns. the lehman had collateral that was -- secured the feds for $50 million. if jp was involved, i'm not sure but they lent them collateral. >>> we'll talk about the future and what he believes our responsibility is now given what we've been through to get this right and get into the real thing which just about on the edge we're talking about here, a resolution. why after bear stearns failed or nearly did we not come up with a resolution to handle something like lehman which was no longer unforeseeable. it was unexcusable then and unexcusable now to not come up with such a resolution regime. >> comments on that, e-mail us at squawk@cnbc.com. when we talk next, investing opportunities you need to watch with black rock's bob dole. center bridge

economist dean maki barclays pital says that good news means it's "stdy as she goes" for the fed. >> right now the fed'sop priority is, is trying tlower the te of unemployment. trng to prevent deflationary pressures from developg. we thi they will be successful on both onts. entually, the fed will start to become more conceed about inflation. buright now the fed is really focused on fosteringrowth. >>eporter: if you're an investor, low interest res are good because they rece the cost of trading. if you're in thearket for a homelow interest rates mean lower mortge costs, and other stuff you buy on cdit. but for most of us, hethy economic growth ans companies adding to payrollsnd that has yet to occur. still, en on that front, economist jonathanasile of credit suisse, ss there are sis the low inflation-- low interestate environment is having a positiveffect. >> we'veeen a stabilization in labor inme in the last two employnt reports. prior to tt, you had ten straight declinein this labor income measure which cbines private jobsnd hours and wages. sohere's more than just the jobs and wes

barclays has sold 12.3 billion of their riskiest credit assets to a u.s. hedge fund. they're getting the stuff off the books or things aren't as bad. so npls are contained. they're not in great shares, but that's what people are looking for, so going forward people can -- >> on a different -- no, i'm not laughing. i would never laugh at you unless you made a joke, and that was not a joke. but when you're talking about loans -- i don't think that was a joke. if you take a look on any other market day you would read the comments from stump saying non-performing loans, he didn't say they bottomed. the regions financial ceo said yesterday the second quarter was likely the peak for that, and stump did not. on any other market day the market would have taken that and would have gone lower. >> i think the quote was in the ballpark for the yankee fans that joe talks about in the world series and jorge pose dah, who guy was very proud of last night in his actions. but the bottom line is this company is going to show better earnings and what he's also saying is their cross-sell

barclays raising its u.s. gdp forecast to 5% in the first quarter of 2010. firm also expects first fed rate increase to occur not until the third quarter of next year. >> let's look at the market and the internals. dow up a third of 1%. nasdaq down a tenth. s&p up just a tad. so, what's market prep look like? pretty much what you would expect given those numbers? a little bit more losers than winners on the big board. and we should have a wider margin. about 400 or more on the nasdaq. >> all right. so coming from the corporate bond market about where stocks could be headed. let's check in with rebecca jarvis. >> as we all know, credit historically leads equities given what's going on right now. stocks are getting some very positive signals. we're seeing a flood of new corporate credit come into the market. a trend that's been in place since april after the haines bottom. the deal, the size of deals, it's growing and picking up, riskier companies are getting their fansing with spreads between the aaa and bbb rated desk below their 2001 level. if you take a lo

citigroup and barclays are offering to arecit financing. recovery may begin on wall street today.d quarter growth will be reported this morning. economists say the report will likely show gdp contracted at a 1.2% rate. let's look at stock index futures, indicating gains on wall street today. if you have a stranger knocking on doors, in my be a representative from freddie mac. they are now going door to door to try to help deliver borrowers in danger of losing their homes through foreclosure. the home fizzes will be focused on people that have not return letters or phone calls -- the home visits will be focused on people who of not return letters or phone calls. that is your business news. live at bloomberg headquters in new york, i am linda bell. >> it was good to see you in person yesterday. thank you for stopping by the office. >> it was wonderful to me you all. >> we will see you again next hour. >>> 5:27. >> still ahead, a double attack on a local student. >> it makes me feel said. i thought all these people were actually my friends. >> the victim talks about the attack. it wa

rbs about 2.75% higher, not far behind are barclay's and hsbc. crucially, all of those stocks are gaining by more than the markets. we should be watching ahead, just a note to the next week. bank of england meeting is due next week, so watch out for that one. patricia, how is it looking in germany? >> well, the dax is up about 0.8% at the moment. but nothing on volumes. about 16.5 million shares traded, but solid as a rock definitely today for daimler. up about 3.5% followed by deutsche and commerzbank by hsbc upgrading the price target. our financials are doing a little better. and then the usual suspects, really, on the downside, such as volkswagen down about 1.2%. why is daimler trading higher? we heard bulis comments coming through from the boss of daimler ahead of the err. we are likely to hear a lot more noise with regard to the car companies, the err is one of the biggest trade fares in that sector out here in frankfurt. and he said that basically savings targets for 2009 have been not only met, but are likely to be above that, that 2010 s

treasury at barclay's capital. we also have kevin giddis. kevin, treasuries are overpriced to overprotection. what's your take? >> i don't know if we're quite there yet. i think there is still such strong demand in the treasury market when you look around for available investments. we've seen the contraction of a lot of spreads, but treasuries continue to be the game in town. there's still great demand for treasuries. may go a while longer. >> michael, tell me about that. that was my next question. we did see good appetite for those two-year bonds yesterday. why are people buying so many? >> the fed continues on its mantra of holding rates low. we think that means to the second half of next year. that means their front ends could offer some value. it is longer at the curve will we see is risks, particularly coming from risks of inflation down the road. not over the next year or two, where the risks are towards continued disinflation, but fiscal policy continues. monetary policy, it will be difficult to implement the fed's strategy and those

you'll see barclays pop up there because that now is the company that owns that building. the financial world has changed over the past 12 months. the question though, is it still at rask? i want to bring in two wall street insiders in that story. lehman brothers vp mcdonald, author of "colossal failure" and now managing director of capital management and williams cohan, author of "house of cards" formerly of lazard and jpmorgan. david faber is going to be in this conversation as well. i guess i just want to start off with, do you think that we're done? i mean, i know we have massive issues for the economy. in terms of the crisis, the abyss, is it really as easys a we're okay now? >> pumping $12 billion into the economy and saying we're okay? i think that the crisis of confidence has been reduced. we pulled back. as bernanke said out of jackson hole a few weeks ago that it was really a crisis of confidence that got us into this.s. i think that's true. people are feeling a lot better about that. but there are huge looming issues, as you guys talk about all the time. whether

cisco up to overweight at barclays. i want to talk about juniper and qualcomm, both price targets raised at goldman sachs. let's go down to sharon at the nymex. >> we're seeing moderate weakness across the board on the energy complex. oil prices down about nine cents right now. but the sell-off that we saw last week, that 9% slide, really seem to have been stand by the news about iran and the news most recently that iraq n is te firing long-range missiles p. this after obama on friday accused iran of a covert nuclear facility. that it was building a second one, has been found. all of this has led some support to oil prices. john at the global saying it really stopped the slide last week in its track. that sell-off. after we got the news about iran. we continue to monitor that as well as number of refinery shut-downs that have helped put just a little bit of product prices. keep in mind we have plenty of gasoline and heating oil. really just points to the weak demand picture out there when you see a number of refineries

. >> i love barclay, it's based on the word terrible, he doesn't say terrible, he says terrible, that'sthing. where did the vowels go in the word. trying to find the home game of wheel of fortune, cons nents only. scrabble. trbl. what's that? terrible. that's a triple word score, you just got again, fool. i go from voice to voice. sometimes he makes sense, sometimes he doesn't. you try to figure it out when he doesn't know where he's going and boom. aeiou and sometimes y. >> i love the vowels. >> and i love the consonants, asia, europe. the george bush impression got you a lot of play, including in washington d.c.? >> yeah, you performed at i guess at congressional correspondent's. >> vice-president cheney next to me. >> what had a was that that? did he laugh? >> very surreal. >> he didn't shoot you? >> i was worried because i looked over and the president was supposed to be there. and the vice-president made fun, the president couldn't be here today, he's in cancun. and then i was like, good the president wasn't there and realized he didn't know what i was doing and vice-president chen

jordan kotick, barclays capital. we have about 35 minutes with a market under pressure worsening in the final day of this third quarter. looking at my screen, i think money is moving into technology. you've got a lot of red, financials among the leadership group on the down side. >> once again, we saw the dollar rally about 3:00 when we came on and stocks weaken again. that relationship, dollar up, stocks down and vice versa here. tech holding on to financials. industrials weak. up next, charley gas perino tells us why several brokerages about to battle. >>> with a market under selling pressure, take a look at the widely held names out there. financials are leading the market low with the exception of goldman sachs. stock is up back at $183.75. citi, b of a and wells fargo in the red. you see mostly weakness across the board with the exception of verizon. >> goldman sitting right near 52-week high right now. is the battle of the brokerage about to heat up? noncompete negotiations between bank of america and bob mccan

in the case of iran's leader, that will be the intercontinental barclay. the hotel the iranians settle on after being turned down by several others. colonel qua daffy libya has refused to find any has bed down in central park. he will bed down at the libyan mission a few hundred yards from the u.n.'s front door. that short journey will cost us all a great deal as new york cops escort the libyan leader throughout inevitable protests. we will find out on wednesday when colonel qadaffi addresses the u.n. whether he chooses to thank america for hospitality or continue the tradition of insulting the host. trace: jonathan, thank you. as i mentioned mujahideen has -- mahmoud ahmadinejad has claimed that the holocaust was a hoax. he questioned whether the killing of jews during world war ii was, quote, real. well, today president ahmadinejad pushing the envelope a little bit further, if that's even possible. he says he is proud that his holocaust denial has enraged folks in the united states and in israel. at the same time, he has also fired off more anti-western

fourth and final story, barclays raising $12.3 billion buying up assets. the same stuff that almost poisoned the entire economy just a year ago. next up, tonight's hero of capital with a twist. and big trouble for aig's ceo. no jet for you, sir. goodwrench... we roll out the blue carpet for drivers of these great gm brands. we can do the small things, the big things, just about everything... right inside your gm dealership. find out more at goodwrench.com. welcome to progressive.com. you must be looking for motorcycle insurance. you're good. thanks. so is our bike insurance. all the coverage you need at a great price. hold on, cowboy. cool. i'm not done -- for less than a dollar a month, you also get 24/7 roadside assistance. right on. yeah, vroom-vroom! sounds like you ran a 500. more like a 900 v-twin. excuse me. well, you're excused. the right insurance for your ride. now, that's progressive. call or click today. gm drivers.. it's goodwrench & go time. three great services: all in one place. all at one time. all for one price for most gm vehicles. but i

apollo, and barclays symbol, ari plans to invest in commercial real estate securities and corporate debt. foursquare capital plans to invest in commercial and residential mbs. mortgage loans and asset-backed securities. colony financial, managed by b of a merrill, morgan stanley and ubs, planning on commercial mortgages and real estate, looking to raise $1.4 billion in ipos. >> there's a lot of money standing on the sidelines. tons of money flooded in last week. you can look at the major reits in the country and they've done essentially rounds of new money raising, which will help them defer some of their costs. >> up 84% in the last six months. in that same time, 60 different reits have raised more than $16 billion in new equity, as for the decline in commercial real estate value reits can only take on 50% debt of their investments so they're not as hard hit by the declines. industry folks tell me these reits are looking to find the cheap distressed properties, and make the killing in the long term. the question is, with prices down already and so many getting in, are all the good deals

barclays we saw strength in american expression, boeing and bank of america, among the dow's big winners. tomorrow we have some key earnings news. walgreens reports before the bell. nike afterwards. and we'll get consumer confidence numbers along with the kay schiler home index. 964 million shares changing hands because of the jewish holiday. nevertheless, broad-based rally with the dow jones industrial average up 124 points. now back to my colleague, maria bartiromo. >> thank you very much. mary thompson. the nasdaq seeing a pretty good move on the upside. brian shactman manning the place at nasdaq. >> thank you very much. we finished up 1.9% up almost 40 points. slightly off the highs. take a look at the interday. we were up pretty strongly in the first hour of trade. it held up throughout the day. we had a tiny dip toward the end. a little bit of buying right at the end. almost got to 2% straight up. the top stories, apple up more than 2%. they're going to have the iphone m china and uk and 2 billion apps downloaded. the chips also very strong today. i want to point out the semiconduc

and barclays, it was at 4% to 28%. the analysts talking about the improved demand having an impact on other companies in the space. altera up #.3%. they're all getting a boost from that note. you want to know about the broad-based element of it? take a computer, the computermaker up 2.2%. what's inside the computer, intel, up 2%. what you drink on the computer, up 4%. that might be starbucks or a beverage of your choice. what you do on that computer, book a trip, expedia up 2.7%. research in motion, not taking part. it's just been a rough five-day stretch, down some 20% inside of a week for rimm after those earnings. down another 2.9% today. ouch. in terms of advances in the climbs, we are better than 3-1 at the moment. let's go to sharon epperson. >> we have a bit of a rally going on here in the energy complex as well. oil prices off of their highs of the session. keep in mind today, the oil rally had a lot to do with the strength in the stock market we saw today. as well as those missiles being test fired by iran and

up grated to overweight at barclays. it's up 5.4%. for this stock in particular that is a huge move right now. it's had strength straight from the open. i want to talk about the tale of two anti-bankers. apple is so much more than that. research in motion down 2.4% pipt had a massive selloff late last week on its earnings. analysts came out and said buy the disk. it's not happening. it continues to get weaker. well below $70 right now. apple is up 1.5%. 2 billion downloads in the app store. 85,000 applications. on top of that there is news the iphoill now be distributed in the uk and in china. it's going to be sold for more than $730 in china. but they want to go after that premium market. quickly i want to look at a few stocks. big names on the move, google up 1.7%. instel good for 2%. the whole chip sector doing well. microsoft up 1.6. quick on the chips, supply materials upgraded to buy at citi. that's good to the up site at 3%. just to go against the tech routine here quickly, goldman sachs chiming in on regional banks, especially

head of barclays capital. sarah from capital management. good to have you both on the program. >> thank you. >> larry, five days in a row. to what do you a tribute this market rally? >> hey, i mean, the economic recovery is looking a lot more normal. it's looking like a normal recovery. the market is behaving appropriately, i think. >> do you agree with that, actually, in terms of putting new money to work right here? because a lot of people, of course, are worried that perhaps this market has gotten a little ahead of itself based on the economic evidence out there. >> i'd say not yet. it hasn't gotten ahead of itself yet. remember, maria, i think a lot of people have really not participated in this rally. a lot of fund managers waiting for a correction to put money to work. and they're having to do that now. just look at where treasuries are at, how many people own treasuries, how much money is in money market funds. you cited the claims numbers earlier. those are critical if you're waiting for the consumer to get back in the ball game, it

if barclays is right, they sell a million iphones when they go over to china, holy smokes, giddy-up. >> and up and up. that is your apple trade. coming up next why harley which goes by the ticker symbol hog, a pork processor and the mccurry all made our list of pops and drops today. call or click today. >>> if you look over the stock, this is a 2010 story. options were heating up in september today. something's going on. >> pop for the mother ship. general electric was -- >> jpmorgan upgraded to an overweight. they said that basically, when you look at ge it's one of the last few stocks out there that is priced, or should i say relatively underpriced with the expectation being so low. ge does go north of 15, you can still own it. >> drop here for mcgraw hill. owner of s&p. down 7%. >> well, it could have been. david einhorn on "squawk box" this morning talking about moody's and s&p, losing a verdict that they are not allowed to use free speech as a defense for less than stellar research. >> pop here for -- >> it's mcdermott here. credit suisse upgraded today, raised the price target

disappoint on the trading side relative to a goldman sachs, relative to a jpmorgan, relative to a barclays in q3, q4. for gorman i think the issue that you have is you've got exactly the right man to run retail. >> brad, but look, morgan stanley is not -- is by no means a second-class trader. they are one of the top trading shops on the street. maybe they're not goldman sachs. but put your cfo hat on and go back to morgan stanley's second quarter earnings. people are calling them out for losing money in the second quarter where goldman made a lot of money. these guys, without the accounting related to their debt buyback costs, would have made money no? and are we losing sight of the fact these guys are getting taken down really more on an accounting glitch? yes, they were not as much as goldman but you cannot say this isn't one of the best trading shops on the street. and just because we've got a guy coming in there who's got a brokerage background that doesn't have to change. >> you do have mack. he does know the trading side. but i disagree with you on your characterization of q2. i thin

then amd yesterday of barclays, sending that stock higher. >> a week ago that got lost in the whole shuffle. you look at intel and everybody says intel's done nothing. well, if you look back and see where intel came to hold this numbers, maybe it's just basing right now. same thing could be said right for texas instruments. i think you've got to be very impressed with the chip sector. then you go over into the other areas of the networkers, you look at juniper, positive comments today coming out of their cfo, and then you look over at ciena. another name in the networking space. but this time they're much more directly tied to research in motion, to iphone, to all of the phone data sort of retrieval process. you've got to like the direction now of tech. they haven't reacted like in a monstrous way, but you've got to remember you look back to july where we've come from across the fmh, across the xlk to reaction, the fact that they're holding up here, people aren't willing to sell right now is a very impressive stat. >> and i think with txn's aggression the moderation or the conservative guid

if barclays is right, they sell a million iphones when they go over to china, holy smokes, giddy-up.nd up. that is your apple trade. coming up next why harley which goes by the ticker symbol hog, a pork processor and the mccurry all made our list of pops and drops today. he ran off with his secretary! she's 23 years old! - oh, come on. - enough! you get half and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah-- his and hers. - ( crowd gasping ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion. - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( crowd gasps ) - ( chirp ) joint custody. - phew! - announcer: get work done now. communicate in less than a second with nextel direct connect. only on the now network. , hard of hearing and an people with speech dischities accessac.sprintrelay.com. new anti-aging eye roller. reduces puffiness immediately -- and also helps with lines and wrinkles. not surgery. this is our way to do your eyes. >>> welcome back for pops and drops. >>> if you look over the stock, this is

alisyn: how did you figure out that barclay was hosting president mahmoud ahmadinejad since they have not confirmed that? >> early in the summer we sent letters to all the major new york hotels and said, look, please don't host president mahmoud ahmadinejad, it is a system of doing business with iran. we informally heard from other hotels that they are not hosting him. we also have some confidential sources, whistleblowers, if you will, that indicated that the intercontinental will host him so we feel pretty strongly that he's staying there. and the intercontinental refuses to deny it. i think you'll see him staying there. steve: i remember walking by it a couple of times when he was in there. it was hard to get within a couple of blocks of it. but part of the letter essentially says that by taking this money, intercontinental, you're taking blood money. >> when you look at the support for the nuclear program, you have a dictatorial bureaucracy. you have high oil prices but now low, providing the revenue. then you have western business that are effectively propping up that economy. no

barclays overgrading broadcom to overweight, there was a pop today up 2.8%. qualcomm more than a percent. just a look at big name laggards. dell is down. ebay down a full percent and amazon is down. this time lamar upgraded to overweight, advertising ticking up a little bit according to their analyst, up 7.3%. let's go to sharon at the nymex. >> dollar has been farming up since that consumer confidence number came up soil prices are falling as well but right around $66 a barrel right now. we have been focusing a lot on the dollar trade. keep in mind as we get into the end of the quart, we may see more volatility due to that than anything else. but also paying close attention to what will happen with inventories and the market is going to expect a another increase in overall petroleum supplies. ab analysts looking for a slight decline in crude supplies but increases in distillate fuel supplies and already looking at oil and gas supplies in the u.s. 10% higher than a year ago. distillate fuel supplies up 31% from a year ago and a weak cash market weighing on na