bob iaccino at the cme. we begin you with, bob. we got better than expected same-store sales for the month of november. draghi made announcement and didn't say anything. there was some perception later he might do some quantitative easing. what really held the reins of the markets today. >> you're describing the central bank that cried wolf again. how many times has draghi said with more information we're prepared to do what we need to do. i think the ecb council helped a little bit stating, certain members stating they would prepare a large package for him to look at in january, for him to look at. not necessarily execute on. draghi has been extremely successful jawboning euro down while doing absolutely nothing, keeping his powder dry. the market saw through that a little bit today. you saw some gyrations as opposed to a straight uprally, when the thought they might do qe came out. david: bob phillips, picking up on theme we heard about, what is happening globally, you admit, by the way, there is no growth globally outside of the

let's go to bob iaccino to see which direction ended today. bob. >> they had bs next to them.uyers coming in on the close. traders coming in on crude oil, how the fed will respond to crude oil. crude oil will not be the mushroom cloud that blows up the fed plans. they will stay the course and affect that in their statement. >> sound good, bob, looking to upside tomorrow. thank you, bob. >> i like how he put that. not be the mushroom cloud that blows up the fed. homebuilder sentiment, that declined slightly in december. government controlled mortgage giants fannie mae and freddie mac announced they will back mortgages with down paints of, as little as 3%. that is unbelievable. how risky a move is this? when will the u.s. housing market see the impact of 3% down? joining me now, our favorite housing expert, mbf highway founder hairy habib who has lived and breathed mortgages throughout the years. its is not new news that they will take 3% down unlike 25, 30% some of us have. let's cut through the details and find out how this will affect the housing market? >> it should be good.

let's bring bob iaccino right