that we weren't sure and telling them it's on, and you better come in while it's on, i juice for bob bell, he tells 11 news it's been a roller coaster ride dealing with the cash for clunkers program with long delays from the federal government getting contracts approved. >> it's frustrating when you're trying to send in one deal, and it's taking two or three hours, and the computer shuts you out all of a sudden. >> now as inventory of clunkers pile up, word about the uncertainty of the future of the program. company cover the bases, contracts have been drafted up that he has customers sign so if the program is discontinued, then the deal is null and void. he's been told through emails from industry leaders that the program is on until further notice, so his motto, buy away. >> i mean, it's a once in a lifetime deal. >> another headache for the dealers might be collecting the money. dealers have been told that they will get their funds 7-10 days after the deal is put through. still, word is that the program is at least good through the weekend. if you've got a clunker, you could be in for

. >> in fact, it's been pedal to the medal at bob bell automotive. >> we can't even keep up with it. >> reporter: but if every silver lining has a cloud, it's figuring out all of the government regulation. >> i guess it's the salvage part, how we're going to dispose of the vehicles and so forth. and how much we're going to get for salvage to the customers and so forth. other than that, we're concerned about how we're going to get our money. >> reporter: keep in mind, it's the dealers, not the customers, who have to be sure to follow all of the rulesful. >> reporter: they're supposedly working all that -- of that out so you guys don't get stuck after thissa all over. they say that. but have you ever seen anything work that way through the government? [ laughter ] >> reporter: now, remember, just because your car is old doesn't mean she qualifies. at 38, this 1971 only oldsmobile cutlass isn't a clumplegger -- clunker, she's a classic. >> you can find out more about cash for clunkers on the government website, cars.gov. >>> tonight, americans working for minimum wage are making more th

. >> these are some of the clunkers customers have brought in to bob bell ford. hoping to cash in on a government program to put drivers into new cars. >> we actually have about 20 customers that brought their vehicles in, that have, basically, picked out cars. >> the program does not begin until friday but it is already driving sales. incentive? up to $4500 in instant rebates from uncle sam. >> on top of that, the manufacturer have rebates on it also. >> the catch? you have to buy something more fuel efficient than your current set of wheels. an appealing idea in this economy, as many drivers already keep a close idea on cass prices and cass mileage. >> i think it is somewhere between 18, 19, 20. >> about 24. >> so the 18 miles to the gallon, road traveling, is more like 28. >> not bad. but many new cars go even further. some hybrids get 40 miles to the gallon. making a trade in make sense. >> i think that it is a great opportunity for customers to get rid of something that maybe they are not driving much. >> not only will it benefit some drivers, the program sh

just ask bob bell. >> it's a once in a lifetime deal. >> bell says the program has pulled in a lot of business, and created new business, but that's really where the fun ends, mainly because of the program's success, the federal government is bombarded with requests from around the country, making it a slow and tedious process getting approved. >> when we originally went on line to submit some of the applications, you would be four hours to get through for one. >> then, factor in the latest news about the uncertainty concerning the programs future, and it puts the dealers and customers in a tough spot. >> i don't know that the government knows how many deals every dealer has. >> if i find the one i want, i'll drive it home. >> for tom mack, it seems to be worth the wait. he is not or rid, because it's a good thing for the economy. >> they're got going to let it die if it's that successful, if it helps me, and the dealers, and gets the gas guzzlers off the road, how could they not continue it? >> contracts are being drafted saying if the program is canceled, then the deal for the car i

welcome to "the closing bell," everybody. i'm bob pisani. it's 3:00. maria will be along in just a moment. let's take a look at where we stand right now. dow jones industrial average sitting right near the highs for the day. you can thank the financials. the key thing here, bank of america, jpmorgan, american express, our parent company general electric, which often trades like a financial. what happened here? meredith whitney upgrading goldman sachs. but read carefully between the lines. she's talking about them being a key trader on the government debt market along with trading those derivatives. that's a lot different than in the past when goldman was a big play on the global growth market. it's a different kind of call, and we're going to talk about that in the next hour. also the nasdaq sitting near the highs for the day. s&p 500 having one of the nicest percentage moves it's had in the last three weeks here. let's take a look at our team that's covering the market. all my friends in place. the nyse, the nasdaq, and the nymex. mary thompson is dow

. >> bob: well done. wally bell, 17 year veteran has the plate tonight. >> rob: as we said last night, did not have a good breaking ball, great fastball, worked it around, was able to get the win last night. >> bob: and we talked about this before, the san diego road uniforms. they don't go road gray, it's called sand. a tribute to the beaches out there. the trim on the jerseys and the uniform pants. and a bouncer out to short. nice big hop for cristian guzman and a good job by j.d. martin of getting that scoreless top of the first. pa announcer: final boarding call... all passengers... each with an average speed of 590 mph... almost as fast as you. nothing's gonna hold you down. grab your bag . it's on™west so our low fares stay low. ( ding ) book now at southwest.com. and i am the chief shoe giver at toms shoes. i operate my entire business from my phone. i need a network with great coverage, because for every pair of shoes that we sell, we give a pair away to a child in need. it would be impossible for me to do t

welcome to "the closing bell," everybody. i'm bob pisani down on the floor of the new york stock exchange. melissa, is it raining out there? because it is pouring down here. the sky is black. >> yeah, we lost power a little while ago. we're going to get washed away. i'm melissa francis in for maria bartiromo. no matter what happens with the rain here at cnbc global headquarters, in the market right now a choppy session on wall street. we've seen stocks trading in a relatively tight range for much of the day. however, we are seeing weakness falling. the fed's latest beige book report and the $39 billion auction of five-year notes drew higher yields than expected. as for the major indices, right now take a look at where the dow is trading. it is up -- sorry. pardon me, down 74 points on the session. .8%. the nasdaq right now is trading to the down side as well. down by about 16 points. .8%. almost a full percentage point there. and the s&p 500 is trading to the down side as well by about ten points. bob, what's on your radar down there

bob barnard. llini'la. xphy w  (bell ringing) woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! kobak. mr. miller (announcer) everyone's heading to arby's for the official $5 combo of summer. featuring arby's new bbq bacon cheddar roastburger with curly fries and a drink for only $5. big on bbq taste, it's the $5 combo done better. >>> we're following a still developing story in indonesia where powerful bombings rocked american hotels. we know at least eight people are dead and eight americans are among the 50 injured. police in the capital of jakarta say suicide attackers who were staying at the marriott and ritz carlton hotels detonated those bombs. fox's james rosen has the latest. >> reporter: a security camera inside the j.w. marriott hotel in jakarta captured these images after suspected suicide bomber and of the blast that rocked the hotel's restaurant friday. within minutes there was another explosion at the ritz carlton hotel next door. at least eight people were killed, some 50 others wounded. it is assumed that the attack that happened this morning in jakarta was carried out by

we thought sponge bob was reading the opening bell, but he's not. >> they're handing out colored ties and stars, and we thought he would be ringsing the opening bell. >> but, no. >> but, no. it's the closing bell. and i'm stuck with this -- yellow tie. anyway -- there's the big board. >> oh, well. all right. >> and the management of celebrating transfer. that's it's nasdaq. staples, and as we mentioned kicking off the back-to-school shopping season. >> all right. we are open, not fully up 50 foinlts. a higher open. see where we are headed. our reporters, bob, you first. >> the important thing here is general list across the board, yes, of course, intel, stocks like paradigm and sp micro on the upsite.. also other things are happening. china shanghai, a 52-week high, dollar lower. commodity stocks and commodity stocks trade over here moving to the up side. that's really your list. several prongs actually moving. not just tech stocks. capital one, david was just talking about capital one. june credit card chargeoffs, not as bad as some thought. delinquencies actually were not as bad as

i like apple but i want to see how they report after the bell and then, bob, i want to see the price action tomorrow and then also tonight after the close. and in the post market. >> you know this is the question i keep coming back to it, but on the demand i'd, if you look at ibm it's essentially back to its september 15th level. the prelehman bankruptcy levels right now. it's come all the way back. >> correct. >> i have to get back to this demand question. i know inventories keep dropping. i don't hear a lot about demand increase. >> that's a great question. again, i'm looking at the price action, the demand we'll see obviously when these companies start reporting especially apple today. my biggest concern of apple going in, is there a demand from the consumer? are we going to sell ipods, how many are we going to sell? on a technical basis, if i could buy ibm at 110, 1.0 , that's a level i'd be looking for. >> how much are you up for the year. >> i'm a prop trader. have you to talk money wise. >> money wise then. >> money. >> coming up on "fast money," instant analysis from apple. y

. >> reporter: an emotional bob belote talks about the terror on friday while the s.w.a.t. team moved closer in, a nightmare was happening inside the bell's valley view home where the couple said they have never endured in their 60 years of marriage. bob often leaves his garage and the door to the house open, easy target for someone looking for a hideout. friday than william spencer came to that garage door. >> with the pretense that his car was broken down and he wanted to borrow jumper cables. >> reporter: but that's not what spencer really wanted. >> and he walked in with the gun in his hand. he says, i want your money. >> reporter: and that would begin the couple's 7-hour ordeal. bob says the hostage taker didn't know his wife francis had a cell phone in her pocket. when they were forced in the bathroom, francis called 911. they had a sport conversation before spencer broke down the door. >> he tied me up with a telephone line. when he said well one of you can go, i said go, francis. go. and she didn't want to g. she -- she wanted me to go and her to stay there and i said no way, it won't happen. >> reporter: and half an hour spence

bell sounds for the day. dow industrials now down 40 points. bob, i'm not sure what you're seeing, but it's very much a mixed performance. in the oils -- actually, exxon was higher, it just turned negative. a number of banks are already turning negative as well. >> and we're sitting right near the lows for the day today. american express weaker. markets have been rallying the past two weeks because of better than expected earnings. but can it last? some answers in a moment. >> after the bell cnbc your home for earnings central will bring you the latest numbers on deck, qualcomm sxechlt bay out right at 4:00 p.m. eastern. >> dak a look at the most actively traded stocks, led by citi, but also notice pfizer's the there. >>> and you're looking at a shot of president obama about to come out. he's been meeting with the prime minister of iraq. he'll make some comments on that, i'm sure on health care as well. we'll be monitoring all that and more than likely taking you to excerpts from his comments. maria? >> so before we go to washington we're back on w

. >> bob: they might come with the closer heath bell. but it comes to mike adams, their set up guy. hurricane pitched that many innings and sets them up. and 206 e.r.a. pardon me. these are heath bell's numbers and one slide up further. 18 per game. and 1-1-3 e.r.a. in 16 innings. >> rob: the one thing that remains a mystery with macdougal, doesn't have a good second pitch. whether it as breaking ball or anything he could change his eye level of the hitters would be beneficial not only to himself but to the team. we know he could bring it. nine #, 97, every time and you don't have much to go with it. you are an easy read. and he has got one pitch. and sit it dead red until we get the one we like. >> bob: bard is one for three with a single. at dams misses. scoreless eighth on friday night. and three strikeouts. and he struck out zimmerman. dunn and johnson. and the padres win. 83 on the change-up. >> rob: the old frankie rodriguez stretch working. and puts them p. high behind his head like franky rodriguez. >> bob: 1-2 to bard and two change-ups in a row. and that one is off. hard s

we're going to talk with bob lutz later today. closing bell, 4:00 this afternoon, we'll talk about bob lutz' new role in the company with bob lutz. later this morning, ray young, first on cnbc, talking about general motors emerging from bankruptcy. it's expected to happen in the next couple of hours. becky, back to you. >> all right, phil, thank you very much. obviously, phil will be covering this closely. phil, we'll talk with you a little later this morning, as well. >>> and some of the world's biggest names in mead gentleman and others gathering in sun valley this weekend. among the personals, warren buffett, google boss eric schmidt, great picture of gates and schmidt running into each other. someone asked gates about the new operating system from google and he said no comment. schmidt was right behind the reporters and they kind of laughed and ook hds. a lot of meetings happening out there. julia bo julia boorstin catching up with us. >> reporter: good morning, joe. with over 70 consumer businesses, warren buffett certainly is in a positi

bell sounds. nasdaq composite under some selling pressure, bob, on the heels of those earnings from amazon and microsoft indeed, maria. up next the cnbc investor network. find out if low trading volume should be a concern and where the opportunities are in this market. re/max agents have the experience to get the job done. nobody sells more real estate than re/max. where do you want to be? has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". announcer: some people buy a car based on the deal they get. others buy the car of their dreams. during the lexus golden opportunity sales event, you can do both. it's an opportunity today. it's a lexus forever. special lease offers now available on the 2009 is 250. >>> focusing on financials and techn

bob ryan with the forecast when we come back. (bell ringing) woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! kobak. mr. miller (announcer) everyone's heading to arby's for the offialci5 combo of summer. featuring arby's new bbq bacon cheddar roastburger with curly fries and a drink for only $5. big on bbq taste, it's the $5 combo done better. >>> not feeling like canada out there anymore. >> july and here it is. outside the flowers -- one thing we would like to get is rain after that really wet period that we had. since then we have been on a bit of a dry period. folks have to water some of their happy flowers. our temperature outside, high temperature today, trying to get to 90. our average is 88 degrees. next week is middle of the summer, hottest time here in washington. 89. average high since june 21 when that pattern changed, about a half inch of rain. way below average. right now outside we got hazy sky for a change. sparkly blue sky. current temperature in washington is now 86 degrees. the dew point temperature is on the way up. 62. humidity is in the 40 range. but it feels

and bob is back with a look ahead to the weekend and the possibility of getting some showers. (bellringing) woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! kobak. mr. miller (announcer) everyone's heading to arby's for the offial5 $ combo of summer. featuring arby's new bbq bacon cheddar roastburger with curly fries and a drink for only $5. big on bbq taste, it's the $5 combo done better. >>> so many women love the high heels. we think they make us skinny and sexy and tall. well, now there is an exercise program making is easier to walk in the high heels and not injure yourself. ♪ usually pumps. >> stilettos. >> makes your legs look good. >> taller. >> you see them on the runway, red carpet walking down the street. high heels and higher than ever. but doctors say if you are out of shape you can end up in pain. >> usually, i am fine till i get home. then i will get cramps in my legs, calves. podiatrist dr. emily slickel special is in helping women who wear heels. most of the injuries she sees are women with chronic pain. >> years of wearing high heels. low back pain. just from, weak

they report after the bell and that stock is up 3%. >> thank you very much. bob and rick. and by the way, coming after the close and we had 50 companies today. as we said, the third we are seeing right now. better than expected earnings from the likes of visa and mastercard. they have some saying those are indicators of strength. they are captured by this magazine cover. you may not see this on your local shelves, but i was president and with the balloon, the recession said they are over, exclamation point. the president did see that and here's what he said. >> i don't know if any of you noticed that he was selling news weeks by the check out stand, but the latest said "the recession is over." >> he did continue to say tough times are not over and the question is what does tough mean. is the recession talks premature. jim bianco is the president of bianco research and a new face of cnbc and covers visa and mastercard and got the stories today. he is with me at the empire and before we get started, i mepged ken lewis is going to be speaking in chicago. they'll get deadly ab

bob: 1-2, to willie harris. and batting .230 chad fair child is the junior on the umpire crew. marty foster and bell.ng out now, toasty when the sun is blazing today. 90 degrees at game time. and with all the moisture we have had. it is quite muggy. st. louis underway up at philadelphia. rubber game. and scoring the run at the top of the first. and joe blanton and ted up there. and phillies have a six game lead in the east against the braves and marlins. mets are at houston. willie harris making lots of contact here and staying alive. >> and home run and construction. and still hasn't figured it out. after 66 starts. and lots of walks and 50, 50% of the time allow two runs or less and the other 50%. they get them. fast ball outside to willie harris, 2-2. and hitting .217 and the sinker in and slider away. tough on righty. >> bob: nationals today trying to win the 20th home game of the year. and their 30th game overall. it is a 2-2 to willie harris. and he jacks it and it is hooking. and willie will put a charge in the ball once in awhile. four home runs this year. and 24 in his major league career an

. >> bob pisani on the floor of the exchange. seconds away from the closing bell.ia talking about the fact that merrill lynch, one of the commentators saying the recession is now over. goldman sachs looks to be closing at the highest level since september. there's the closing bell. you know who's next, maria bartiromo. >> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the inform stock exchange. we're following at the close tonight, it was a seesaw session for the markets. down beat news on the economy outweighing strong earnings from some of corporate america's heavyweights. we're waiting on a handful of other earnings. leading the charge today, earnings from goldman sachs easily beating expectations. that was a bit of an anti-climactic event as investors set the shares on a tear yesterday ahead of the numbers. we'll check out all of the financi financials. a second quarter result from the world's largest chipmaker intel may very well set the tone for tomorrow. w

bob ryan will be there tomorrow. >> yes, he is going to play. >> i think so, yeah. >> very cool. >> coming up next, royal rumors involving prince william. (bellg) woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! woo-hoo!!!! kobak. mr. miller (announcer) everyone's heading to arby's combo of summer. featuring arby's new bbq bacon cheddar roastburger with curly fries and a drink for only $5. big on bbq taste, it's the $5 combo done beer. >>> well, money sure makes us feel good, better, and it actually -- i almost said it makes you feel bad. it cures what ails you. new research suggests money can ease pain. experiments conducted by scieists in minnesota and china kept coming up with same results. physically touching dollar bills or even just the thought of money affected how people thought about themselves and both physically and emotionally. scientists found that people who feel rejected or physically hurt have a higher desire for money than others. and researchers say their findings can help explain why some people become addicted to making money. >>> why you always want to go shopping when you feel bad. >>> one of the world's most eligible bachelors could

plus after the bell general motors driving out of bankruptcy in 40 days. gm vice chairman bob lutz with us explaining how the automaker can return to profitability, win customers, and when it may pay the government back since now the government owns an enormous amount of gm, some 70%. that's at 4:00 p.m. eastern. first here's where the sax on a friday afternoon on wall street. the most heavily traded stocks on the nyse led by citigroup once again, break 3g a share. back in a moment. >>> welcome back from outside the nyse on wall street. as if they didn't have enough going on, ubs now is looking for a head of its u.s. wealth management business. charlie gasparino has been reporting this breaking story today. he's on the telephone with more details. charlie, what do you know? >> how are you doing, maria? there's a short list and they are looking. i'll give you the short list of the short list. jim gorman who's at morgan stanley right now. i don't put much creed nens that. i think two names that are likely to get this are bob mccann, formerly of merrill lynch, and sally krawchuk.

bob: and that's low, 2-2. and we've got a 1500 umpires that are pretty hacked off right now. >> rob: i don't know what wally bell's thinking there. with sitting around for three hours waiting to restart. the pitchers have to get something here. runner goes on a 2-2. that's low. throw well late. into second base with his 10th steal, everth cabrera. >> rob: good pitch to steal on. breaking ball count. breaking ball down right here. see him go on first movement. never picks his head up to look in and easily steals second. still a good throw here by wil using the wet grass. >> bob: 3-2, you don't want to walk anybody with a big lead. >> rob: remember we talked about that earlier with j.d. martin. you don't want to give up a two- run home run and let the padres back into this ballgame. >> bob: here is kevin kouzmanoff who has power to spare, but against right- handers strikes out a lot. by the way, announced attendance we did have 21,834 here. a couple thousand here. >> rob: while we were in the rain delay, the cubs put ted lilly on the disabled list. that might heat up their trade talks for roy halladay. >> bob: i hea

. >> bob: by the way, we may hear bells ringing here in the ballpark shortly again.t two games of this series by having late leads. even though he did get some work in one of those games. there is a base hit by hart. verizon presents father x-ray. j.d. martin had an up and down afternoon. had a chance for a quality start but he gave up two in the seven. not good base running at times by the nats today. not real good defensive play a time or two against milwaukee base runners. we'll see why ray calls it an increasing four game series by pittsburgh. maybe ray's intrigued to find out who the pirates are going to put on the field after trading most of their starting lineup this year. jack wilson freddie sanchez departing yesterday. and now a wild pitch. second and third. nobody out and this game's about to get out of reach. macdougal tried to overthrow a little bit. talked about that a lot. you cannot what they call hump up and muscle the ball. got to be fluid and mechanical. >> bob: there's no doubt he's got a good, hard running sinking fast ball. but what does he have

talking with wally bell while the visitation is made by the kiching coach bob mcclure to the mound trying to change the rhythm here with greinke. >> buck: greinke has been off on his location. the home run to adam jones was meant to be a breaking ball down and away and it missed all the way across the plate on the inner half, and then that last pitch to aubrey huff was a fastball right out over the place in huff's wheel house. aubrey huff has hit greinke well. >> gary: we hope to keep that going. designated hitter as ty wigginton is getting the start at first base. 0-1 count. markakis on second. a strike taken on the inside corner. greinke ahead, 0-2. >> buck: that's what greinke is most effective, both to righthanders and lefthanders is elevating the fastball on the inside corner. that's the first pitch he's thrown effectively inside to any hitter here tonight. >> gary: there's the 0-2 delivery. and huff on nasty breaking ball down and in is a strikeout victim. greinke has 147 strikeouts and that strike out moves him to second place in the league in ks. >> buck: here's the last pitch to

bell maria. >>> house demes say they're hoping to bring a health care reform bill for a full house vote next week. they may stay past the recess to get the job done. >>> bob nardelli has returned to serb bris capital as an advisor. he was in charge of chrysler till they emerged from bankruptcy and former putnam investments chief executive charles heldman had been named ceo of freddie mac. i'm rebecca jarvis. >>> and there's a live picture of the floor of the inform stock exchange tuesday afternoon on wall street. stocks back and forth. higher by 31 points extending the rally of the last seven days as we enter the final and most important hour of the tradinging day. welcome to the "closing bell." i'm maria bartiromo on the floor of the nyse. we've been focused on ben bernanke for much of the day. a shot in the arm for the stock market, up 31 points. want to bring in bob pisani. i wonder what your thoughts are on the supply out there, just looking at trim tab's latest report here, new offerings set to accelerate here. theo logic reporting four deals totaling $3.1 billion already scheduled to price. what does that do to the moment up on the upside? >> it's g

bob lutz for joining us. thanks very much. phil, we'll see you later. now a look at some of the other stories we're following on the "closing bell" ticker tonight. and it is a busy evening. goldman sachs turning bullish on the hardware sector. they're raising their target on apple to 6160 from 145. apple shares tonight looking like this in sizable volume. dell, meanwhile, is goldman's best pick in the hardware center. the firm is telling clients they're upgrading to a conviction buy. new windows 7 operating system later this year. that should drive the new corporate pc upgrade cycle. and dell shares tonight flat really up 7 cents a share. thomas weisel upgrades dell tonight to a market weight from an underweight. hikes its price target on the stock to 16 from 11 because of upcoming organizational changes, and that may mean the internet search company more competitive and effective. yahoo shares tonight gaining 38 cents on the session. still to come here on "the closing bell" rich bernstein will be with me. he's not sold on the belief that emerging markets will lead a global economic recovery. spoke to the imf. john lipsky said engineering market

bells and whistles on walter cronkite. he was just a reporter. he was a reporter's reporter. people knew that and they understood that. and they appreciated it. >> bob schieffer we appreciate you joining us. we'll let you go. and joining us now by phone is don hewitt from his home in bridge hampton, new york. you were the producer before your 60 minutes fame before you helped launch that program. you were the producer of the cbs evening news in 1963, when it expanded from 15 minutes to a half an hour. how revolutionary is that? is that something cronkite pushed for? >> yes, he pushed very hard for it. and it was not a difficult sell. i think the corporation realizes it was time to do a half hour of news every night. >> you've dealt with a lot of huge egos in your long career, mike wall list and all of the other stars you've worked with. did cronkite reach a point, he was famous and on the cover of "time" where he got a little full of himself? >> no, he never got full of himself. america was full of walter cronkite. walter was very modest about himself and maybe the best news guy i ever worked with. >> susan, you talked a little bit about the cbs cov

. >> reporting earnings after the bell and should you buy ahead of the results, the liquidator. what gets the stock above. bob eyeinger talking about the plan and 27% investment in humohumor humoru. you stay out of the stock until you see that. >> joe has got it right. i don't foresee the stock and you can sell some calls. it's a good buy and a way to move higher, i don't know about that. >> time to go outside the stocks for what could be the most anticipated event of the week. nine minutes away. treasuries are falling as the government prepares to auction $28 billion in seven-year notes and the auction is part of a dead offering totalling more than $200 billion. that's how much the government is trying to borrow. let's get more on the auction and bring in rick santelli. yesterday was a dog with a d. this is a longer maturity. this could be worse. >> everything will be backwards and the try and true maturity will not be a comfort cap. maybe the long maturity with higher yield will be. i will tell you this, the when issued market and where the years are playing before they go to the public's hand in about eigh

bob, that he has an exit strategy. gentlemen, thank you so much. we appreciate it. >> richard hoey, nigel gault, we appreciate it. 35 minutes to go before the closing bell.dow was down 60 points and has come back rather nicely. >> up next a new study unveils the staggering cost of o'boast and the impact on the health care system. details when we come back. today there's a way to save more for retirement, with annuities from fidelity. turn your savings into income -- guaranteed, and get a retirement "paycheck" for life -- guaranteed. call... to get started, and learn how to secure retirement income that won't go down -- guaranteed. call fidelity at... for details about guaranteed income for life, and change the way you think about your retirement savings. >>> according to a new study from research triangle institute and the centers for disease control and prevention the medical cost of obesity is as high as $147 billion a year. more than 9% of all u.s. health costs were found to be related to obesity as of 2006. that's up from 6 1/2% in 1998. in tonight's premiere of "meeting of the minds:spt future of health care" michael milken says fixing the nation's

bob johnson, thanks so much. appreciate you taking the time. >> okay, see you, guys. >> see you. final countdown to the opening bell coming up. futures pointing to a strong open. announcer: some people buy a car based on the deal they get. others buy the car of their dreams. during the lexus golden opportunity sales event, you can do both. it's an opportunity today. it's a lexus forever. special lease offers now available on the 2009 is 250. special lease offers what's on the minds of independent investors? let's ask. when i trade, i want a straightforward price. they lure you in with a $5.99 trade, then charge you 15 bucks. you get a low price, but only if you make a ton of trades. at td ameritrade, every online stock trade is just $9.99. period. no matter how often you trade. no matter how much money you have in the account. i hate those hidden fees buried in the fine print. surprise! it's a maintenance fee! i hate surprises. at td ameritrade, you never pay a maintenance fee. you get low, straightforward pricing, so you always know exactly what you're paying. hey, that works for me. are you ready to declare your independenc

bob: and mike adams is warming up as fast as he can in the san diego bullpen. he jumped up, he has thrown about 7 or 8 pitches already. their closer is keith bellves of their 37 wins. cristian guzman has gone deep once tonight rob. >> rob: the guzmaner got that high heat up, up, and away. . >> bob: well the nats are down by four. two of these runners happened with two outs without the nats hitting the ball. and, i'll tell you, guzman is not up there to draw a bases loaded walk either, is he? bob. >> rob: no, he is not, he is a hacker by trade, a contact hitter, starting to feel it again. of course, hit the ball hard every time up tonight. don't help them. get a pitch you can drive. the breaking ball started on the middle of the plate, it will ride and go right down by the ankles. . >> bob: one career grand slam for cristian guzman. he is just going to have to fight here to get the bat on the ball. he is gone. so are the nats in the seventh. they have stranded six. and onto the eighth inning, the padres on top 6-2. úúxx÷ . >> bob: big friday night out there at the red porch. the potomac nats invite you to enjoy the weekend. see where it all star

reports after the bell today analysts are looking for earnings of 62 cents a share for the railroad company. for the second quarter it finished the session with a gain of just about 1 1/2%. bob, back to you. maria, sorry. here you are. >> i'll take that. >> come over here. >> thank you very much. we'll see you a little later. thank you. taking a look at the other business headlines we're following at this hour, moody's cut cit group again today. this is one of the biggest stories of the day. the latest cut coming because of what moody's calls the company's inadequate progress in improving its liquidity position. now, on friday cit said that it is in talks with regulators to bolster finances. treasury secretary timothy geithner says he is monitoring the situation at the company. moody's also says more ratings cuts may be coming for cit, citing concerns about the lender's ability to survive. a lot of talk about the possibility of bankruptcy. former stanford financial cfo james davis agrees to plead guilty on three felony counts in connection with a ponzi scheme. the deal making it tougher for allen stanford, who is charged with running the ponzi scheme, to maintain his own inn

bell. that one down 3 1/2%. over at the nasdaq, amazon, a big drag thanks to its earning story. that one down plus 8%. joining me to break it down, bob pisani. >> what i think is most important about the rally this week is normally, you get a rally and the s&p is up 3.8%. and one of the things you look at is how it goes against other indexes. >> right. >> there's an equal weighted index on the s&p 500. and normally that tracks very carefully the regular s&p 500. the s&p is the market cap weighted index. but that's not happening in the last few days. it's been an unusual out performance here of the equal weighted index. five-day of the s&p and equaut weight on the top of that yellow line. rebecca, what this means is there's a broad market participation that many, many stocks are moving up. and this kind of out performance, it doesn't look like much, is very unusual. it's a good sign. that's the point. it's a good sign. you want to broad as possible rally as you can be getting here. >> not only that, the volume pointing a good sign. at least a better sign, more positive spin on things out of yesterday's rally. >> the technical breakout

bob, we turned around, up ten points. that's good for half a percent. ten straight up days. we're working on our 11th here. there's optimism around the results from apple after the closing bellstocks up 4%. profits up 15%. huge demand remains for the iphone and macs. apple is having trouble meeting demand. you can see the turn around in the overall market from yahoo! even though the stock is down 0.10 of a percent. it's come back as well. weak online ad sales still remain a problem even though cost cutting helped yahoo! beat expectation there's. speaking of cost cutting, helped out starbucks. they beat their results better than expected. guidance was better than expected. stock was up 16%. added momentum into starbucks shares. pharmaceuticals was the one i referenced. up 26%. they had a positive study for the breast cancer drug. wynn is going to go for an ipo in hong kong at the macaw business. stock is up on that news. google is fractionally higher. research in motion though still remains a little bit under pressure. perhaps it's a little giveback there from apple. the iphone was so strong perhaps the street is looking at that at the expense of research and motion because o