president, bob pisani with cnbc, mr. president.t to backtest an entire portfolio of stocks. market experts show you how through fidelity's extensive trading knowledge center. and fidelity gives you free research from 15 independent firms, with accuracy scores... to help you decide which analysts to trust. find out why more and more active traders are turning to fidelity for a smarter way to trade online. trade like a pro. trade with fidelity. when thistheir employeect addebenefits package,ment guess who became the new teacher's pet? aflac, aflac, aflac, aflac, aflac find out more at... aflac! for business.com and the duck says... aflac! >>> welcome back to our special coverage of the president on wall street. former president george w. bush was here at the new york stock exchange. he was actually the last sitting president to visit the nyse. that happened in january of 2007. in fact, president reagan was the very first to visit back in march of 1985. well, bob pisani, he wasn't there in '85. he was there for the 2007 visit with pre

let's send it down to bob pisani on the floor for your reaction so far. >> hi. consumer confidence, four 30i7b9s below expectation, that cost us eight points. we're at 1006 right now. nonetheless, specific news in certain sectors, all helping those specific sectors. let me show you, for example. the newspaper industry, gannett's surprise gave positive guidance for the third quarter but there were chublgs on the street as they noteded much of the gains were due to lower n s newsprint cost, the physical cost of printing the papers were lower but that helped a number of newspaper, "the new york times" with a nice move today. same with the drugstores, walgreend earnings above estimate, stronger pharmacy margins helped boost their gross marches. sales up with in the quarter thanks it a rise in prescription same store sales. finally, the case-shiller numbers helped the home builders here. three consecutive gains in home prices. once we've had a chance to look at the numbers more carefully. good breadth, not just california or florida. we saw across the board. only two

bob pisani has all the action. >> hello, maria.he important note here, existing home sales weaker than expected. that's what moved the markets earlier in the morning. the important thing here, stocks are again beholding to the dollar. it's not just existing home sales, but those moves up we saw in the dollar again today, hurt the markets overall here. dollar strength equals stock weaknesses. not just commodities like oil,

that in addition to the fact that the president still in new york, bob pisani, who knows whether that means he comes here or not, but he didn't after his speech. bob pisani and art cashin are with us. >> it's funny, the speech itself curiously did not elicit much interest from the trading community. the general feeling was the reason it happened is health care reform is totally overshadowed financial regulatory reform.. i think the important thing is there is an awful lot of support for financial regulatory reform amongst the general population. a lot of the more savvy traders think the president is setting us up for a push on regulatory reform later after health care passes. i guess art, the question i have is how do you do regulatory reform when it's not even clear what form the banking industry is ultimately going to take?? it's a tricky thing to accomplish, isn't it? >> looks like we have an issue with art's microphone. we'll work on that. bob, as we do, what is the gossip on the floor that he didn't come over and visit? people want to read something into that. he could still come

bob pisani down on the floor of the new york stock exchange. a few seconds before we ring out the final trading session of the week. three down days in a row. a little bit of disappointing economic news which we will discuss on the other side of the closing bell. >>> hello. 4:00 p.m. on wall street. do you know where your money is? welcome to the "closing bell." i'm michelle caruso-cabrera. here's what we're following at the close. stocks ending lower for a third straight day after a mixed bag of economic data. consumer sentiment hitting its highest level of july of 2008. new home sales were not as strong as wall street had been forecasting. durable goods orders dropped last month as well. oil recovered a bit today, topped $66 a barrel. growing tensions over iran's nuclear program, new revelations there. for the week, however, crude is off 8%. the biggest weekly loss in more than two months. >>> here's a look at how we finished the day on wall street. the dow jones industrial average lower by 40 points. the s&p 500 lower by 6. the nasdaq compos

i'm here with bob pisani. we got the latest data. i know that two months was up, not much market reaction. that's not really the point. the point is we had a feeble attempt to sell and it hold. >> the philly fed really was better than expected. >> the market dropped ten points. >> 4.1 was last months. 14.1, that's clearly a trend improvement. but you're right, four days in a row we have started the market off immediately they try to set the market off. it drops to just down a little bit or flat. and then it rallies right back. there's no selling pressure. there's no follow through. there's no power by the sellers to bring the market down anything more than a few points. and it just moves right up again. here we're still in positive territory. we are 20% above the 200-day moving average on the s&p 500. laszlo pointed that out this morning. that is a rare occurrence for that -- that means you've got a steep curve upward. we're up now nine out of ten days. >> does that mean, you know, technically that you're in for a little bit of a --

so is a little bit of a mixed bag there bob pisani with me on the floor. i haven't seen you in a while. >> haven't seen you at a while. a conference in california. you look terrific. >> thank you, so do you. >> everybody is freaking out about this 2% decline that we have hurricane the s & p 500. the rally's over. we have been here. do you know how many 2% declines in the s & p the march rally began? i mean, at this point, the average rally, the average decline is 2 to 4%. we have had no correction, 10%. no correction at all since the s & p 500 started moving since march. >> people haven't bought into this rally. we are now quite a few months into it, and yet there is still sort of a crowd out there. >> the important thing is that suddenly, krengss are only 2 to -- corrections are only 2 to 4%. the worst one we had was in june or july, 9% decline.4%. the worst one we had was in june or july, 9% decline. there are analysts out there ned davis one of them, a huge following, his feeling is we will continue to get rallies but may be a little more moderate. the

that's a sign of weakness again. >> bob pisani, thank you very much. so we'll watch that s&p. d, of course, bob will be here throughout the day doing that job for you. >>> all right. let's get to the nasdaq. and what are you looking at there? i was talking about, we're struggling to be up here, but you're down. >> we are down about 7 1/3 points. 0.3%. one of the most interesting stories i'm watching today, research in motion had a reversal here in this early trade. they're going to come out with earnings after the bell today, erin. the stock has been on a tear. in the last or year to date it's up better than 100%. the stock was up yesterday quite nicely, about 3% or so ahead of this earnings report. it was up off the open about 1 1/2%, 1 3/4%. but it looks like the profits are being taken out of this stock. that was probably the most interesting thing that we were going to be watching for today is how the stock would react to an earnings report that i think many analysts and people on the street expect to be fairly good. the other big story here is electronic arts shares are gi

we kick it off with bob pisani at the big board. time really flies when you're having fun, huh, fwob? >> one year. it's not the regulatory reform speech the president that has people talking, it's the tariffs on chinese tires and potential retaliatory action that is getting much bigger play down here. let's talk about what stocks are moving p financi moving. financials, they underperformed last week. once again today, they're underperforming the major markets. big names are down 2%, 3%, 4%. did you notice that nationural is up big here today? they have announced that they are again issuing new shares. they stopped on concerns that the future commodity trading issues might stop it. but the funds are trading at a premium to natural gas and that premium appears to be largely collapsing. we want to know what we've been talking about, sprint/nextel report that deutsche telekom hired them for a bid for sprint nextel. a lot of speculation and thinking about this down here. financial risks associated with that. demand a premium that will co

bob pisani, what's going on? >> well, first time home buyer tax credit juiced things up so the national association of homebuilders is lobbying to have that extended. likely, you will see it will be. let's talk about the s&p here. down 2% from the intraday highs for the year. what was that, three days ago? a lot of whining and concerns? folks, 2% declines, give them two days of disappointing economic news on existing home sales and durable goods, no big deal here. let's talk about the whole last six months. 54% increase. s&p is 20% above its 200-day moving average. that is a very rare occurrence. it's a bullish shine for the signals for most of the traders i talked to still we remain on the bullish side. let's talk about homebuilders. kpb homes, more importantly, the kb homes observation. earnings reports were out. not as bad as expected but very, very cautious for the next several months. still they said it will be some time before we see meaningful improvement in the economic conditions p. that's the ceo of kb

i'm bob pisani. hi, michelle. >> bob, good to see you. mixed day on wall street. let's take a look at how the major indices shaping up. making a move into positive territory here. momentarily, right now, lower by 3/4 of a point. 9706. holding on to the 9700 level. the nasdaq in negative territory as well. below the 3,000 level. dropping below by 9 1/2 points, 2,097. excuse me, the 2,100 level. the s&p 500 lower by two points. 1,048 where it stands right now. also trying to come off the lows of the session. bob, a lot of moves responsible that kevin walsh was saying today. >> i tend to agree with steve liesman saying he voted for a statement, or the op-ed that he put out today and speech that he gave, michelle. the good news is we're even today. the bad news is we've had two tas of sort of downside economic news in terms of existing home sales, new home sales. and pressure on the economically sensitive stocks, two days of bad news, or disapointing news on the homes front, home sales numbers has really put pressure on housing stocks. we're seeing a bit of a downturn

bob pisani with me on the floor with more reaction to these numbers. >> i think they're holing up and the markets are holding up well. the jobs number doesn't thrill me. i've been away. >> do you ever work anymore, bob? >> let's take a look at where we're at. that number was the most important of the day. it was broad-based. not just california and florida. i didn't like the number because the percentage of people saying they couldn't get jobs was still high. earnings here, have you been watching the analysts reports? i'm seeing strong revisions upward for the third and fourth quarter. >> that's incredible. >> a big, leading indicator to me. >> one of the big fears out there is that maybe we will see a double dip recession. when you see earnings numbers looking to come in strong, that starts to quiet some of those fears. >> and often that's the good indicator of where we're going. look at what's going on in europe. in england, new highs. france. u.k. three of the four bricks are at new highs. brazil, russia and india are at new highs today. only china is holding back. global markets a

bob pisani. >> up about three points on the futures here. it's quadruple witching iks pir rags. it's been an odd expiration. we've had volume in the last two days but not a lot of volatility in the indienindieend indices. dow chemical, may say's, our parent company, ibm had a terrific day the other day. it's tln elsewhere, homebuilders are up. kb homes up 3%. jpmorgan upgraded them. also, procter & gamble upgraded at kriciti group. they're talking about their ability to win back market share in the near future. barclays raised their first quarter 2010 u.s. gdp profit to 5%. tradertalk.cnbc.com. brian, how are we at the nasdaq? >> looking better than at the close yesterday, bob. interesting earnings report. all over the place was palm. positives and negatives. they lost money but lost less than expected. smart phone shipment was above consensus. that's good. q2 guidance, low. full-year guidance, high. goldman sachs is going to handle the 50-year share. it's up 0.9 of 1%. amazon makes private label products like 1,000 of them from outdoor furniture to chopping blocks, and they aqu

bob pisani at the new york stock exchange. >> every day, folks. up 20, 30 points in the dow doesn't seem that exciting. we're up 200 points this week on the dow. it's a lot of talk about cash on the sidelines come ng. is there cash on the sidelines? there is, but not as much as before. the percentage, the ratio, money market funds, u.s. equity capitalization, right now, 30%. in march, it was almost 50%. the answer is there is cash on the sideline, but there is not as much as there was in march. still plenty of powder around here. how about the movers this week? the big names were all flat, but had great moves this week. lot of international exposure here. and again, you get individual days where the stocks started to move to the upside. we've had a lot of interesting housing related news and airline related news. fortune has some good comment this is week. brian, we're up on the nasdaq for the week as well. >> we just turned negative for the day, although very, very slightly. it would make it eight of ten weeks to the upside. research in motion bo

we get all the action right now from our on the floor of the nyse as always, bob pisani. >> every day we go up. >> 2.5% on the week, bob? >> exactly. but every day about 40 points to the dow. you'll notice behind us, folks, that's citigroup, the crowd around citigroup, because citigroup is being rebalanced to the s&p 500, because they had all of those ads in their common stock from the preferred throughout the quarter. this is a big day. >> recently, no exception, because of the rebalancing act. >> they're still waiting to close that stock out now as they are a couple of other ones. this happens every quarter, folks. the s&p 500, when you have a significant change in their share count, they rebalance at the end of a particular time. let's take a look at what happened here. the big winners for the week, the out of favor stocks three months ago, airlines and reits, all those groups did really well this week. we had big volume this today, but not a lot of volatility. not much happened in the terms of the move up and down. but volume was terrific. 2 billion shares right here. it will be c

joining me all hour, bob pisani, the action behind those numbers. bob, what do you know?ain. important thing here today, the dollar, moving stocks around. look what's happening in the last hour of trading on this thursday. again beholding to the dollar. the meeting came out, the results, statement and we saw the dollar rally dramatically. that's happening again today on the existing home sales numbers. dollar strength simply means stock weakness in this particular environment. kotd miss and financials notably weaker here today. on the existing home sale numbers, as we got them

we start it off with our own bob pisani on the floor of the new york stock exchange. >> what's important here is we were down a little bit in the middle of the day. that hasn't happened in quite a while. let's look at where we stand right now. we are off of the lows. remember something, we've had a series of days all throughout this week where the markets rose throughout the middle of the day. we have come off the lows here lately. the important thing is the leadership groups we've seen, the gold, home builders and even to a certain extent the regional banks are all on the weak side today. those would sell off first if we had some kind of pullback. you think you would see more volume. these events have become more and more non-events as time has gone on. let's look at some of the big names here. first the gold stocks. big, big names. 15, 18, 20%. all of them to the down side here today. gold hit an 18-month high today. down here today. let's talk more about some of the other stocks, the home builders, same situation. 15%, 18%, 120% # # # # # 20%. the same situation in some of the regiona

up in chicago, we begin with bob pisani, on the floor of the new york stock exchange. >> i know it doesn't look terribly exciting, folks, but it's very significant. markets in the last hour, big volume today. quadruple, not a lot of surprise. not a lot of volatility. the big story, folks, aren't you watching? we're up every day. eight out of ten days. i know, it doesn't look like much, 20, 30 points on the dow, all of a sudden the dow is up 200 points this week. the best showing in almost two months here. we're sitting at new highs for the year on all the major indices. we're getting a rebounding this afternoon. we had it in europe with some of the indices over there. the daq, ftse in london rebound. a little gyrations in the stocks in the middom of the day. the trade over in europe as well. budweiser, anheuser-busch, gyrated around 11:30 eastern time, the stock went down, and up. all of a sudden right in the middle of the day. novartis had an interesting move here. trust me, the big story here at the close is going to be some of the big names like citigroup which is rebalanced. they had b

. >> thank you very much, bob pisani. i thought our producer, lu luchange was going to say, who? brad pitt just walked by. taking a look at the business headlines, we'll tell you who's sitting next to me in a few moments. the jobless claims unexpected fell by 21,000 last week to a seasonally adjusted to 50,000. it is the third straight week claims have actually declined. the number of americans continuing to collect unemployment benefits, also down to 6.1 # million. the national association of realtors, reporting that existing home sales dropped by a larger than expected number. that was 2.7% in the decline, ending a four-month winning streak on that date. and where the movement in the housing market is right now. and where it is coming to a dead stop. nintendo is cutting the price of the wii video game system to $199, by 20% in the united states and japan. following similar price cuts by sony and microsoft. >>> joining me now to talk more about the economy, and the markets, retired u.s. army general wesley clark. he is the former nato supreme allied commander for europe. as well

bob pisani and brian shactman are manning the floors. >> i like this starbucks instant coffee. i thought it was terrifically. i'm pushing for a lighter roast. let's talk about the markets. the big story is what's going to happen with the hmos? we are expecting the vote on the public option maybe sometime this week over in the house, maybe the senate debating it. since this has come back up, the public option in the last week and a half, all of these hmo stocks have been moving to the downside. once again today we see wellpoint on the downside and they have probably dropped about 15% in the last week and a half. same situation in all the other big names like aetna, all slowly moving down. until we get some certainty, the instinct is to sell them. there is positive news. in newspapers and drugstore companies. you've got gannett up nicely today. they had positive comments. they raised their guidance. news print costs are dropping. gannett has been moving to the upside and all the newspapers. the drugstore companies have been moving as well. brian shactman, we still can't get in po

bob pisani has joined us on the floor there. let me bring you in very quickly there. michelle heard some groaning on the floor there as the president's speech was under way. we've seen no action to speak up in the stock market today here. >> i'll tell you why. there's a general impression that regulatory reform has stalled and taken a backseat to health care reform. the big debate down here, a lot of people think the president is unlikely to make a dramatic play, put in a lot of capital for regulatory reform, given the issues that he has with health care.. remember, energy is coming up as well.. yes, you'll get a banking reform. you'll get a systemic risk regulator. you'll get some kind of reform. but not a lot of the more radical reforms that some of these people want. >> steve liesman, we were having that conversation during the commercial break.k. >> the cynics at the table here think he's just making this speech because it's the anniversary. >> well, there's not much new in the speech. >> there's nothing new in the speech. geithner put out a document earlier today

bob pisani kicks it off at the new york stock exchange. first increase in household net worth since for a long time. is that going to help out the market? >> it's good news, but it's not moving the market. particularly for real estate and equities situation. folks, nine out of ten days, we've only really been down one or two days in september. right now, the s&p 500's got a great record going. about 5%. straight up here. airlines are having one of the best weeks in a long, long time and we've had good news here. united and delta raised guidance. they're getting serious about improving profitability. we've had great moves up today and throughout the week on the airlines. fedex, while their earnings were in line with the guidance last week, the revenues were $20 milli million on the light side. trader talk. how are we looking at the nasdaq? >> just turned negative. just about a point here. we've been up and down over the flat line. not too much convection either way. yahoo! is off the highs of the day. up about 12% in a week's time. that's a

bob pisani kicks it off at the new york stock exchange. bob? >> a day here where names, mcdonald's, cokes, procter & gamble doing better, industrial names, big interlos angelesal names, caterpillar, united technologies, alcoa weaker today a few groups moving. michelle mentioned the airlines. remember, they have had big capital raiseds recently and very successful ones a big note this morning out, ubs talking about all that, where it might mean and upgraded bottom line they upgraded a couple of big airlines,morning out, ubs talki all that, where it might mean and upgraded bottom line they upgraded a couple of big airlines, qb homes down, did get earnings, while they did have a loss not as bad as expected, cautious comments from the economic outlook from the ceo weighing in on that sector. trader talk.cnbc.com, down 1 1/2% on the nasdaq this week. >> not helping, down two-thirds of a percent, techs are weak. rim down 16% or so, the number of upgrades goldman off the conviction buy list and deutsch putting it to a sell. apple weak, google weak, ci

pisani. >> indeed, we do. >> thank you, bob. >>> we're trying to come up for a name with this indicator we'reort of developing right now. anecdotal evidence from you folks directly, what you're observing about our economy as opposed to the statistical numbers that we get from the federal government. all kinds of suggestions today that you're e-mailing to us. here are three more. this one from doug, which i kind of like. how about calling it the "power lunch" indeindex. >> i'm all over that. doug, you are brilliant. >> that's about branding. ma marie has how about the working american index? paul says how about the nail gun index. here is a guy who is a contractor, which is a key indicator of the economy right now. >> i like that. >> i think we could run with the "power lunch" indicator. >> we have more to show you, plus we will be talking on the phone with a correspondent, a guy on the front lines, we're calling him hot dog man. we'll get his take on how things are doing in his part of the country as well. >>> wrangling continues on capitol hill over health care reform legislation. mandatory