bob pisani, how about that yelp today? >> i just want to be a yelp insider, is that too much to ask? >> are there any? >> $24 and change. insiders own it at $1.12. that's not a typo. that's not a misstatement. $1.12. at any rate -- >> successful ipo. as porter pointed out earlier, they only sold 10% of the company. >> you've got to admit, it's worked for a lot of these tech ipos so far. control the amount and the price holds up. we're going to eke out a very small gain on the week on the s&p 500. i'll tell you something that bugs me. the russell 2000 is down 3% this week. small cap stocks are rolling over a little bit. that means the leadership gets very narrow into the big cap stocks. we've been talking about that for a while. that's the one thing i don't like about the markets. >> thank you, my friend. see you later.

remember, follow me @bob pisani on twitter. the best part about this whole thing?took a year to do this documentary. the best part was being able to go underground in the deepest mine of the world and see how dangerous gold mining is. a new found respect for the gold miners. i had to sign a release that said if you don't come out when you go into the mine, don't blame me. tough sell but it was worth it. >> look forward to seeing it tonight. bob pisani's never been seen look inside that secret fault backing the spider gold trust 100,000 gold bars all in one place and that one place is tonight as well. only on cnbc 9:00 p.m. eastern and pacific right here. don't miss that. next up on the halftime report, the battle between samsung and apple heats up in china. tim seymour is on the fast line with the best way to play it. [ leanne ] appliance park has been here since the early 50s. my dad and grandfather spent their whole careers here. [ charlie ] we're the heartbeat of this place, the people on the line. we take pride in what we do. when that refrigerator ships out th

bob pisani, a very narrow trading day today.ortant thing is the market is up but it is up for reasons that traders don't particularly like, up because of defensive names a day when utilities are up, staples are up.

bob pisani? are you telling me bob is not good? he's sitting right next to me. >> bob pisani is standing right here. >> do we have him or not? >> bob pisani is here. >> i insist that i'm here. >> maybe i'm not. >> give me the latest on what's happening not only in bats but in apple. there's two stories of the day. >> two issues, separate but related. number one is the bats ipo. bats did go public today. it priced at $16. that was below the price talk of $16 to $18. opened at $15.25. and immediately it was halted. now, why was it halted? that's part of the problem we're trying to get at right now. apparently there was some kind of system over load that happened there. the system itself crashed. now they're only allowing trading on the bats exchange itself. they weren't allowing trading on other exchanges. that may have been a problem. somehow the system got overloaded. there were a lot of trades literally in pennies. those are all going to be canceled. >> they still don't know what happened. that is the bottom line here. on its very

bob pisani on the floor right now. and kelly joins us from our headquarters. bob, is it all about greece, or do you think there's also optimism ahead of these jobs numbers before? >> a little bit of both. put up the s&p 500. have you noticed, we spiked up just prior to 3:00. get a closer shot of this, i want to show you this. right here is what you want to look at. all of a sudden, boom, you see that? some of that may be the fact we're closing on the psi deal. there have been vague unconfirmed reports of a greek television station saying the participation might be 95%. i find that incredible. i don't know how they're getting to that number. i think that may be a factor as well. everybody's wondering, how do we get anywhere with the stock market right now. remember the key pillars of what's going on, why the stock market have been going up. number one, the stock market and the u.s. and economy here is going to be improving. get a tight shot on this, because everybody's wondering why are we holding up so well. these are the three reasons. number two, europe is in

thank you so much, bob pisani. the other business headlines we are covering tonight. >>> boeing loses a round at the world trade organization, the wto ruling that boeing received $3 to $4 billion in illegal subsidies through federal research grants and local tax breaks. u.s. trade rep ron kirk calling the decision a victory for the u.s. because the wto panel ruled last year europe provided $18 billion in subsidies to airbus. kirk says that today's ruling shows that european subdid siddys are far larger and more disruptive than anything the u.s. does for boeing. >>> ford taurus the subject of safety investigation. the national highway safety administration reporting it has received 14 complaints from drivers whose throttles became stuck in the opens position. government is looking at cruise control cables in 2005 and '06 ford tauruses that allegedly became detached. the agency did not cite crashes or injuries related to the issue. >>> the u.s. job market is mending. the american transportation association says ameri

bob pisani on the floor of the new york stock exchange. a little weakness in the last half hour as we drop below the lows we hit earlier in the day. but the market's not that worried, because most of the weakness is in consumer names. put up procter & gamble, you'll see what i mean here. sitting at the lows today. johnson & johnson, this is why the dow turned negative. it's mostly the consumer names that have been down on the day. then we've got companies like coke as well. also having kind of a tough day. see that sitting near the lows? and merck, looking very toppy. and has been for a number of days now. there it is, sitting at the lows for the day. >> bob, thank you very much. stocks steadying now as mixed economic news keeps the market in a holding pattern. is the u.s. economy self-sustaining at this point or not? and if so, shus investors be putting new money to work into risk assets? >> chris is chief investment officer at u.s. trust, and liz is chief investment strategist with charles schwab. thank you so much for joining us. your c

bob pisani here. i want to put up the vix.tle weird this week in general, but we dropped down to about 13.7 here. the lowest since 2007. the vix measures the near-term. if you look at the vix curve, look at vix futures, you see around 27, go out to september and 21.5 in april. this is a more realistic way to look at things. i wouldn't pay that much attention to the cash. maria, look further out on the curve and you'll see there is still concerns about higher volatility out there. maria? >> thanks so much, bob. coming from the post of diaggio, trades under the symbol deo. we're looking at action in the stock here. the drink maker's brand includes walker and guinness. the company is teaming up with the new york city department of transportation for a month-long safe rides home campaign. to promote responsible alcohol consumption. free pre-paid cards, $18, will be distributed at various points across new york city. the city's 13,000-plus taxis participating, as well as ticketing machines and public transportations including the n

bob pisani down on the floor of the new york stock exchange. modest gains in the markets today. why so modest considering we had nonfarm payrolls better than expected and the greek private sector debt deal concluding. but we had the rally. it's already there. up almost 9% for the year. a very simple answer, we've been moving up on those expectations. financials, a pretty good day overall. certainly no bis disappointments in that group. most of them were up fractionally. same situation with the home builders, which have had three big up days on the indications that the spring home buying season at least has been as good as expected. and in some cases might be a little better than some people anticipated. most of the major home builders hit 52-week highs. for all the worries in the middle of the week about a china slowdown, most of the major indices ended up fractionally. >> take a look at the business headlines right now that we're covering. the u.s. employment picture continuing to improve with employers adding 227,000 jobs in february. that's the third straight month of job gai

davidson, and our bob pisani.im, the three stocks you're going to center us on are mead johnson nutrition, tyson foods and constellation brands. there's a beautiful dietary progression from infant formula to the chicken fingers to the beer. >> i like your style. >> yeah. why staples today? >> well, i think we're seeing good growth out of some of these names. and the valuations are compelling. at least in terms of tyson foods and constellation brands, which we have buy ratings on. so they're kind of garpy names, growth at a reasonable price. mead/tyson are so on fire in china. people want high-quality american infant formula there. they're willing to spend money for the big brands. >> and tyson? >> tyson has figured out they need to follow the yum! brands of the world and the mcdonald's of the world. those people really care about food safety issues and quality and traceability of ingredients. and i think tyson is going to end up earning margins that are double their domestic margins in china because they're provid

we'll begin with bob pisani at the nyse, bob? >> tyler, the important thing is the stock market is being affected by what's going on in currencies and the bond market. in a sense the stock market is really a peripheral bystander, here is what is important, the dollar index, month to date it's basically straight up, we are at new highs for the dollar index. this is a basket of the dollar, six other currencies. what is that doing, well, it's the sign of an improving economy to a certain extent and better interest rates here in the united states or potentially higher interest rates, but today it's putting pressure on commodity and commodity names like freeport-mcmoran, for example, and gold stocks are down rather notably, in fact, and many of the gold stocks are at 52-week lows. mining, one of many gold stocks, been a miserable six months and alcoa to the downside, the other factor is the interest rates, the ten 10 and 30-years are higher. this is all affecting thinking in the stock market. finally want to know the big player in the

bob pisani, thank you again. >> march madness is underway. but you already knew that. what you probably didn't know is all the big numbers when it comes to the business behind it. that's why we have a sports business reporter, darren rovell, looking at all those numbers. darren. >> yes, i am working and watching at the same time, of course. i'm going to start you off with zero. that's the dollars that the players earn, of course. they are amateur. zero dollars up top right there. then i'm going to get you to number eight. eight is the number of consecutive champions who had the color blue in their uniform though 2003 syracuse had a little bit of blue. you might be able to extend that a little bit further. $10,000. that's what current vermont coach made when five years ago he accepted the job as director of basketball operations. he now makes $170,000 as head coach and won last night to get in the field of 54. this is a crazy number. $253,731, that's the price cbs and turner play every in-game minute. and then $27.8 million, that's the disparity in the revenue between d

bob pisani tracking the action on the floor of the nyse. what you got, bob? >> hello, friend. big volume on a quadruple witching. not a lot of stock price movements, but it's been a very, very important week. let's look at our screen and see what's going on. s&p 500 and the dow jones industrial on track for biggest gains in 12 weeks. so the s&p 500 is up nicely for the week. a little over 2%. also treasuries, the big story here. look at the treasuries up 14%. that's the u.s. 10-year yield. that's the big story. normally if that would have happened, people said stocks wouldn't have moved so much but improving economy is the important thing. dollar flat to up here. and gold down. strange, strange week. things are changing. money's coming out of the bond market. the question is is it going heavily into stocks? i wouldn't say yet. a lot seems to be in cash. look at financials. can you say more money going into financials. higher dividends, buybacks and a steepening yield curve. very important for the banks. bank of america has just about doubled in price in the last few weeks. sun

bob pisani is at the big board, and sharon epperson at the nymex. clear this up, sharon. it seemed to me it was a matter of semantics whether there was an actual agreement or just sort of a wink and a nod about whether or not there would be a coordinated effort to release new oil to the markets. >> all you needed was to hear that there might be a release of emergency oil reserves and more supply of oil on the market to see oil prices tank quickly. we saw about a $2 or $3 move, depending whether you were looking at the wti or brent contract, in a matter of minutes. of course, as we did learn more of the details, or lack of details, the fact that perhaps it was a coordinated effort between the uk and britain, and the white house refuting that, we did see oil prices start to come back. the fact remains that we have an oil embargo going into effect in july. and that will take about 800,000 barrels of iranian crude basically off the market, or at least going off to the west. so there are many that believe sometime between now and july, we will see emergency reserves tapped, wh

i want to get straight to bob pisani. you know, u.s. stocks seem to be the place to be relatively speaking if you forget china and the eurozone slowing down. >> the question, mandy, how serious are you about the slowing down story? the chinese seem to be interested in not bursting the real estate bubble, they're not raising interest rates and don't seem to be concerned about a consumer slowdown. but, mandy, there are a lot of consumer stock in the united states have very significant u.s. exposier. coke is half its revenues here in the united states. hershey gets most, pepsi half. costco, here's a real play, 70% of their revenues are in the united states. that's why you're seeing some of these hold up better. >> i'm going to ask you a bit about what jim cramer said last night. whether or not the retail investor is jumping in with both feet. the retail investor has been so noticeably absent. >> they are not. but i'm going to tell you something that might change their mind. wait until they get their quarterly reports, mandy. put up somethi

bob pisani, quite a reversal. >> we did. thanks heavens it was the material stocks and big energy stocks which have had a sign of slowing down. peabody, for example, today, this is an intraday chart. there you can see what is going on. coal stock moved up, energy stocks have had a tough time. they have been rolling over recently on low natural gas prices and declining oil prices as well. halliburton, for example, all of the oil service names had a great move to the upside. that's what i'm talking about. this is the last hour of trading and only big international material stocks, the iron ore stocks, for example, like cliff natural, that's an intraday chart that we're looking at. a real nice turn around and global growth names. >> we've been covering the ipo story. more ipos today. are we in a hot ipo market or what? >> i would say we're in a warm market. it's not particularly hot. millenia media, it opened essentially at $25 and held right throughout the day. look at that. that's a straight line. that's a hit. that's a big h

bob pisani on the floor of the new york stock exchange.verybody's waiting for better economic news. maybe we'll get it tomorrow with the nonfarm payrolls. better news from the home builders. reporting decent numbers, some spring home sales, or at least it looks like we'll have a decent home buying season. all the home builders were up. people anticipating 25% to 30% gains from the same period last year. we might be getting some kind of numbers along those lines. it's still a little bit early. elsewhere, when you get the euro up, the dollar down, you get at-risk assets right across the board. very good day for commodities as well as commodity based stocks. all the major names were to the upside today. even the financials, again, a lot riding on whether or not we'll get decent earnings from the financials in the second half of the year. so far that happened, jpmorgan had its numbers raised by morgan stanley. >> bob, thank you very much. let's look at the other business headlines we're covering tonight. mortgage rates revisiting record lows a

bob pisani on the floor.that and it's very simple, five straight months of contraction in manufacturing, people are saying perhaps there's legs to this story about china slowing. from the moment, in the last few days, china is a big play on energy. they consume about a quarter of all of the world's oil. that's the weakest sector on the financials also on the weak side. guys, back to you. >> all right. bob, thank you so much. meanwhile, mortgage rates jumping to five-month highs today. that tops business headlines. freddie mac says the average rate of 30-year fix climbed to 4.08. the effective higher rates should be minimum as long as the increases are limited. weekly jobless claims, number of americans and the moving average for claims also dropping to a four-year low of 355,000. rose to .7%, the economists say that this year's wild winter has contributed to economic recovery. >>> jim skinner has announced his retirement from mcdonald's and the stock has done well under his tenure. making his time the most su

joining us is bob pisani and simon hobbs from new jersey. we're focusing on weakness in europe. >> yes, we are. it was really quite broad base. some of the indices, like italy, we have an eruption of selling on the italian and spanish bond markets. raising the question really as to whether the honeymoon that we've experienced may be coming to an end of the first quarter. of course, risk assets have rallied substantially of a trillion dollars. tomorrow we have the spanish budget and there is clear nervousness ahead of that. and what was interesting was that as the bond market sold off, some of the italian banks which of course have profited hugely from fwiing italian debt soared in value it's fair to say we have warning signs flashing importantly from europe today. >> bob, here we go again. suddenly we're going to be focusing as we did last fall on the spanish budget. >> you know, i want to get simon's thoughts on this. they are trying to reduce the deficit to a certain percentage of the gdp but it's going to crack. we've heard numbers 22%. y

we've got bob pisani as always, on the floor of the nyse, and kelly evans looking at profits. courtney reagan standing by at the nasdaq. bob, what's behind this big sell-off in the markets today? >> two issues. first is concerns about slowing global growth, and second, of course, is what's going on in greece. the issues about slowing global growth have been with us for a while. my sense is china, 7.5% gdp, i think that the issue is, they've beaten that many times in the past. 7.5% is not a hard landing. i think you're going to find that will go away in the next few weeks if china can further stimulate its own economy. the other issue about greece, my take here is, maria, if you get the greek debt deal closing thursday night as advertised and get a decent payroll number on friday morning, and i'm talking over 200,000, i think a lot of these concerns we've got will go away right now. >> ty, one of the issues here is greece, whether or not they're actually going to make that bond payment as bob is discussing. i think there is a fair amount of people out there who are expecting a d

bob pisani is our man on the floor. you have to look at the earnings picture, the fundamentals which is what the market went back to. >> we had a great quarter. we're closing out the quarter and s&p 500 up 12% so far in the quarter. we had a mixed day today. financials under pressure. i think it's over in europe, spanish ten-year yields coming up again and that's getting their attention at this point. but 12% -- >> 18% on the nasdaq. >> that's the biggest quarter that we've had in ages and ages here. i'm looking at the numbers. we're waiting for them to settle out. the best quarter we've had since q3 2009. it doesn't get much better than that. how much more are we going to have to push us into the next quarter? >> technology has been the star performer and cloud computing. you've got another ipo being priced tonight. >> >> we're going to trade tomorrow at the new york stock he can change. imagine a company that takes information on your digital life and markets all of the things that you do, you're on the web, on the cl

bob pisani on the floor of the new york stock exchange. small declines today, but big gains for the big cap indexes on the week. tuesday, big day, the day we're going to find out about greece and whether or not they're going to take that psi exchange. we'll find out how many private bond holders accepted that offer and whether or not any collective action clauses are going to be triggered. how about wednesday, what's up with apple. are they going to launch an ipad 3 or is it just going to be a somewhat fancier version of ipad 2. apple, $400 at the start of the year, to $525. let's see if the payroll can stay over 200,000. dow basically flat. there's something i don't like to see. the russell 2000, the small cap index down 3%. we don't have any leadership from small cap stocks. that's a concern. back to you. have a good weekend. >> bob, you, too. we'll see you on monday. what a weird day for shares of wynn resorts. up sharply this morning, then the stock was halted for quite some time over confusion about a regulatory filing. let's get to j

bob pisani on the floor of the new york stock exchange.t happens if you have an ipo and no one trades? they've told us my question of the year what exactly happened before the close, if not, over the weekend we've been talking about our producer just telling us that the dow has been trading in a 20-point range for the last 2 1/2 hours. unbelievable. >> and in a low-growth environment where investors have the greatest return on their investments? chief investment at bmos, he continues to like the dividend play and he's going to give us top dividend picks today. >> and also, by the way, jpmorgan is expecting companies to increase dividends and buybacks by as much as $250 billion for 2012. >> right into your play there. >> right into it. >> chief equity strategist gentlemen, thank you for being on the program. there was criticism about the dividend play last year. >> right. >> but it's piling into dividends and the performance was not fair. do you think the performance will be there as well as the dividends? >> i think there's a lot of intere

let's go to bob pisani. we got disappointing europe's manufacturing numbers. early this morning with the euro dropping rather dramatically, our futures dropped and we never recovered. it's pretty simple. what side of the global growth story are you on? today the glass is half empty. transportation index, the worst day that we've seen in the year so far you can see all of the concerns on slower global growth. and finally a big ipo. put up the exact target. priced at $19, opened at 23. look, closed right at the highs today. $25 and change. the other one is vanta. that price at $19. excuse me. 17. start trading at $19 and change. look at that. never really looked back. two big ipos. two of them closed on very strong terms. maria, back to you. >> bob, thank you so much. let's take a look at the other business headlines we're covering. president obama is pushing federal agencies to speed up a 485 mile pipeline. trans canada says it hopes to complete that $3.2 billion pipeline next year. the president is on a four-state tour and is defending his administration's ene

let's get to bob pisani and figure out what went on in wall street today. i know that the oracle numbers were in focus but a big focus was the iron ore story. tell us about it. >> and oracle up just in a second as you made the announcement. you would have thought that the world was ending. a bhp billiton official estimated that iron ore would drop into single digits. it's been huge, over 20% for the last decade and have been slowing down for the last couple of years but we saw a big drop in transportation stocks. some of the shipping companies like xl, iron ore, eagle dropped dramatically. the markets had negative reactions overall. we saw transportation companies down, iron ore companies down and materials around the world dropped. i think it's a bit of an overreaction given what is going on with the overall markets. >> bhp down, arch coal as well, the coal company, steel companies across the board. i should point out fex -- >> coal shipments, iron ore shipments affect transportation stocks. all of the rail roads went to the downside today. >> bob pisani,

bob pisani on the floor of the new york stock exchange. on the surface, it was another good day.an't complain. take a look at the major indices, the s&p 500 is at another multi-year high, so is the nasdaq.re's the problem, th leadership is getting kind of narrow for my taste. really in terms of new highs, there's two groups, retail stocks, which had a great february retail same-store sales numbers, and technology stocks. that's basically it. a lot grout there that aren't leaders anymore. home builders, airlines moving sideways for a month. steel stocks have been going nowhere. the russell 2000, that's been going nowhere either. for the last month. bottom line here, maria, is, i'd like to get a little broader leadership in the markets right now. >> bob, thank you. shares of td bank, the second largest canadian bank and tenth largest in the united states rising today modestly after the company reported earnings lower than a year ago, but they did beat analysts' expectations. announcing an increase in the dividend. what's the rest of the year going to look like. joining us to talk a

get bob pisani, man at floor. bob? >> on the day we started weak, dow down 85 points, look at the dow jones industrial average, again, the middle of the day, yes, this was the big drop right here but this was well before apple and seema will give you more on apple but you notice this happened almost every day this year. do you know the dow jones industrial average has not had a trim-digit down day all year, not since december 28th the dow down 100 points. put up the dow leaders. it wasn't the big names that you necessarily see with the exception of ibm. ibm, another move to the upside there exxon mobile, travels, verizon, defensive names move the market forward. the question now is the fundamental story wit market has risen this year still intact? is the fundamental story still intact? show you the three main points, four maybe. china, of course, issue there cutting the growth targets what is going on today, most of the time today, a tight shot on this make sure everybody see it is carefully, china cutting the 2012 gro

. >> on that note, brian is with bob pisani. >> we have exact target, indianapolis based company are 19 was the price, indicates 22 to 24. bob, an exciting dual ipo. >> exact target, we call them cloud computing but they're really a marketing firm. cross channel interactive marketing. >> best buy, reward zone, you get the e-mails. >> let's be more specific. imagine if you could combine everything in your digital life into one database, all your e-mails, all your twitter accounts, all the stuff that you do that you buy online in a database, that's largely what these guys do. you'd know an awful lot about your life. my google calendar, you know about who we are and the whole game is about marketing and making sure what you do online is turned into marketing efforts here. the bottom line is they leverage their data to send personalized e-mails to the individual. the important thing is for example travel updates, you get travel updates from priceline, changing your itinerary, that's what they do, they're in charge of doing that. you get the customer service tweets from toyota or from auto

let's get right to bob pisani. >> this was a fascinating day. now, i know it didn't look very exciting because the stock market didn't look like it moved up. but the action, folks, is not in the stock market, it's elsewhere. it may be impacting the stock market. put up the headlines for today, because this was all about the bond market today. get a close-up of this here. money is coming out of the bond market. but gee, where is it going here. stocks and commodities were weak all throughout the day. i'm saying weak, 3-to-1 declining stocks. the dow industrials is not a good way to look at the stock market. higher yields, is that hurting stocks and hurting commodities. it seems fairly obvious, look at the tlt. get a close shot of that. this is going back six months here. new lows here. of course, that means yields are moving up. big volume here. that means people are selling these longer-term bond etfs, getting out of them. there's your getting out of the bonds. the question is, where else is it going. the dollar has been stronger. look at the big

let's check in with bob pisani at the nyse. you've said it, bob. moan all you like about the low volatility and the low volume -- >> i'm over it. >> but we're sitting here at multiyear highs. >> i think the important thing is what side of the global growth story are you on? where are you? right now the people are arguing the global growth story is going to be a little bit better than expected are the ones winning today. the cyclical names, the transports, the cyclical index, have been underperforming the more defensive names like the consumer index and the pharmaceutical index. but today that's reversing. transports, cyclicals are all doing a little bit better. elsewhere, did you see what happened? two things about the fed. did you see what happened with the nikkei today? the bank of japan came out and said they're not going to be adding to their quantitative easing program. look what happened. boom, right to the downside. the nikkei was up 1.5%. ended up just up fractionally. the other big question is inflation. gasoline prices have been up since

i'm looking for bob pisani, not sure where he is going to be. > here he is there. >> coming through the end of trades. final thoughts? >> the important thing is the growth story is not extinguished, china maybe at 7 1/2%, below expectation bus remember, they are talking about promoting internal growth at this point. a good thing for china, they need to do that. not bad name for the materials thing, all which sold off. energy weaker as well. if you look at the dow, what moved it up here was the more defensive names, your travelers and your mercks and your telecom stocks, i don't think the fundamental growth story is off the table right now. >> where are people saying that next they think they will get traction? >> i think the important thing is if you look, there's still plenty of room for growth in tech, still plenty of room for growth in the material names, if you look at the world capacity, it is still pretty low out there. i mean, nobody is -- the expectations are not particularly high this year and i agree and say the surprise, potential surp

bob pisani our man on the floor. we saw a lot of sell-in bounces in the last few minutes. >> that's a very good way. there's a little art down here at looking at the buy and sell. when you get the dollar value of the sells. that's a going signal for how the close is going to look. we had numbers that were pretty high. that's why we ended near the lows of the day. >> what happened? any catalyst that sent us -- >> no, there wasn't. occasionally you'll get this. that's when you get these drups in the last 15 minutes. >> let's talk home builders, bob. we're going to talk to toll brothers' ceo. >> that's a great guy to talk to. they're a higher end builder, but thank heavens lennar had numbers up 33% on their owners. they expect the home buying season to be pretty good. they expect their orders to be up 20% to 30%. lennar came up higher. that's a good sign. kb home was a little bit below that. so far spring home buying is looking good, but about in line with what people were expected. >> all right. so no surprises in term

so, bob pisani, here's my question. i was scratching my head over this. how does that happen? if retail investors are taking money out of equity funtds, who's putting money in? >> it is a bit of a mystery. look here. we're up 12% for the quarter. this is one of the best quarters in a long time. so if the retail guy isn't, pension funds aren't in a big way, doesn't seem like a lot of insider buying, who's doing it? the answer is cheap money that's out there. fed is providing cheap money. and corporate america's going out and using some of that money to buy back stocks. there's your answer. stock buybacks have been active so far this quarter. about $40 billion have been averaged per month going back to about august. that's according to to trim tabs. one thing that bothers me a little, look at the buybacks in march here. banks around some of their stress test, apple announced a buyback that won't happen until 2013 and the others 44 billion. we still have the average, mandy, but the number of people of companies announcing buybacks has dropped a bit. so just when we've got a big n

speaking of hot topics, bob pisani is at the new york stock exchange. bob, as brian said a moment ago, it's less than an hour to go until the big fat greek deadline. let's hope it has a happy ending. if it doesn't, what's going to happen to the market? >> i think a hard default where the psi literally just falls apart, that is not priced into the market. the psi is with or without the collective action clauses getting triggered. so, look, remember the whole theme here basically is we get through the greek psi, the deal gets done and tomorrow you get 200,000 plus on non-farm payrolls, u.s. economy is in tact or at least improving. that's why you get one down day on tuesday and two big updays in the last couple days. s&p right near old highs. i think 1374 was the old high. that was on march 1st. we're ten points from that. >> indeed it's been a nice two-day rally. let's see how much longer it can last. thanks for that, bob pisani. >> tomorrow is payroll day. the expectations are up as is our economy. but can this hopium hold out? rbc just releasing its lat

i want to get to the trading floors more detail from bob pisani at the nyse. hey, bob. >> hello, brian. on the surface, folks, things look pretty good. three to one advancing to declining stocks. you like to see that. volume is fair. number of stocks hit new highs nicely expanding. in fact, we're doing fairly well. and a nice little eclectic group of stocks at new highs. i love when you get a financial at a new high, a tech at a new high, pharmaceutical at a new high, consumers and discretionary at new highs. nice diversification of new highs. here's what worries me, guys. i don't like it when i see things like problems in the housing market. for the last week now the data's been a little bit weaker than anticipated. so what's up with pending home sales today? below expectations. then we have new home sales below expectations, existing home sales, housing stocks, all this from last week we bow expectations. the housing stocks have been rolling over. it wasn't just what we had with kb home on friday, which surprised everyone with numbers way off expectations. pu

. >> let's head over to bob pisani here on the fourth floor. what's moving this morning, bob? heck happened to kb home, folks? we have a problem. the entire spring home buying season was supposed to be significantly better than last year. specifically we've been working under the assumption that orders would be up 20% to maybe 30% and so far the early inkags were that is exactly what's happening. i've been saying that for a couple weeks. kb home comes out with the report today not only were they profits below expectations, forget that. we're worried about orders. down 8%. what? where did that come from? we see average selling prices down, declines in the southwest and west. no, we're not suppose today have that. we are supposed to have orders up 20% to 30%. i need to make a lot more phone calls on this and there as lot of head scratching on the street obviously. home builders are getting killed this morning. as of this moment, i'm calling this an outlier, a little bit of a presumption, but this is way, way off from what everybody else was expecting on the street. so let's see

. >> i'm bob pisani in for bill griffeth. stocks losing a bit of steam in the past few minutes, after greece defaulted, as expected. that just happened moments ago. we'll talk to an isda official in a few moments here. and we'll look at what's today's notes, what it might mean for investors. stocks on track for their best three-day run since february, tas marks the three-year anniversary of the multi-year lows since 2009. jobs report helped spark an earlier average. the dow jones industrial average just off its highs. as you can see there, we dropped, oh, maybe 30 points or so. as news came out just prior to 3:00 eastern time that there was a credit event in greece. take a look at the s&p 500. lost maybe three points. we were at 1273 or so. nasdaq also dropped there. put up the s&p 500. that's the key one here. we were at roughly 1273. now as you can see, excuse me, 1373, now at 1371. you see the little drop right there. maria? >> yeah, we certainly did see a significant move just in the last ten minutes or so, bob. what do y

bob pisani down on the floor of the new york stock exchange. this is a very tricky day.hat we know for sure, money's come out of the bond market, particularly the treasury market, but where is it going. it doesn't seem like it's going into the stock market or commodity market. s&p 500 doing nothing here. but more importantly, declining to advancing stocks on the new york stock exchange. that's not strength. here's another issue, the big kahuna, apple, around 1:30 eastern time it goes from $582 to $595, and then just drops down. is it going into corporate bonds? a lot of people think that's going to be a very favorite little sweet spot. doesn't seem like that's happened today. the big corporate bond etf that's out there, and there it is, the lqd, down 1% today. bill and maria, that's a big, big drop. looks to me money's going into cash because they're not quite certain what's going on. this is an inflection point for the overall economy now. >> thanks so much, bob. dow hanging on to positive territory by just a fraction. it is on track for the best six-day run since july

straight down to bob pisani at the nyse. i don't know which is the biggest clunker today, i know on your radar screen, bob, the ipo of bats and the numbers out of kb home. >> the housing numbers were disappointing and all the home builders are down on that. i think that's a bit of an outliar. want to hear what lennar has to say on tuesday. then we'll find out whether the disappointments is really for the whole industry. i want to focus on bats because let's just call it an embarrassment here. bats is a stock exchange competition with the nyse nasdaq. we're young, fast, efficient, we have better systems. so they go public today. ipo $16. comes out first trade that happens in the morning $15.25. that's a disappointment, but what's really a disappointment. put it up. there was effectively only one trade. the initial trade. after that the system crashed over there. we're trying to figure out exactly what happened, mandy. frankly, we don't know. i tell you, there was only one trade right there at 15.25. th series of trades at penn

bob pisani is at the nyse. rick santelli is in chicago. d you've been all over our screens today, bob, talking about the reallocation trade that is finally occurring. >> well, i don't want to make too much of it. something has changed. when you get bond yields of 14% and cyclical end of the stock market rallying big-time, i think something has changed. now, i think a lot of money's coming out of bonds and into cash right now. not necessarily stocks. but let me show you something. it's at extraordinary week when you have bond yields up you'll see when you have 14% yields up and bank stocks rally big-time. there's the 10-year. look at that move up for the last few months at the highs here going back to october. but if you put up the groups we've had this week, bank stocks, housing stocks have rallied dramatically. transportation stocks have all rallied dramatically. that's fairly unusual situation when you've got kind of thing going on. there you go. transports, industrials, remember the s&p 500, mandy, up only 2.5%. all the sectors outperfor

bob pisani is here with me here at the new york stock exchange. and steve liesman joins us. the headline seems like nothing has changed, except maybe a slight change in the view of the economy, right? >> i think the way to think about this, bill, fitting a jacket. they removed a button, maybe they let a seam out here and there. but the jacket, the overall policy statement by the fed remains of the same material. that is to be easy until late 2014. a tweak to inflation. hey, what we expected was going to happen, sort of in the near term, is going to take a little longer. some upgrades to the employment outlook. soup upgrade to business. a very grudging upgrade to what's happening in the global situation. but i want to read you a note here from our friend dan greenhouse over at pdig. he says, nearly every optimistic note was book-ended by a caveat. so bill, i think the story is, a begrudging fed acknowledges both a changed inflation environment and a changed economic growth environment. but not changed enough to change policy. >> and bob, the fear was, early on, that if the fe

bob pisani. we have big news today in the financial services sector for sure on the jpmorgan increase in the dividend to 30 cents a share. up from 25 cents. the major averages closing at multi-year highs. we saw a market first today, the dow closing above the key 13,000 level, and nasdaq closing above 3,000. our next guest is the co-manager of the rainbow fund. it holds regional bank shares. the fund has about $1.5 billion under management. also with us is vadim, chief market strategist at alliance bernstein. thank you both for joining us. are you expecting the company to raise their dividends? where would you see the next dividend increase take place? >> obviously there's so much cash that companies have been holding, and they haven't known what to do. we're calling this a gridlock recovery. nothing's going on in washington so people feel safe to come out of the woodwork. i think that's one of the reasons jpmorgan can raise their dividend. the financials are sitting on a lot of cash. they'll be

thank you very much for that, bob pisani. no sector feels the pressure of high oil prices quite like the airline sector. and today was no exception. phil lebeau joins us live from chicago with a look at that sector in particular. what are you seeing, phil? >> mandy, in the middle of the day there was a flurry of activity especially as there were reports coming out about potentially the united states releasing the strategic petroleum reserve, as we all know that is not going to be happening. but look at the spike in the airline index when that report first came out, it was a huge shot up. and frankly it's been holding ever since even though the white house is coming out saying we are not releasing the strategic petroleum reserve. all the airlines see a bit of a spike about an hour and a half ago. they have come off that a bit. but they are still up. here's the reason why, mandy. when you look at jet fuel over the last six months as it continues to move higher, the bottom line is that the expectation among investors is that at

we start with bob pisani at the nyse. >> the important thing here is, i know greece is getting a good part of the blame today and it deserves it. but the other major part of the story is about slowing global growth. put up the major headlines we've dealt with today. the important thing, when you see brazil with declines here of 2.7% or 2.7% gdp growth, that wasn't supposed to happen. all the brazilian stocks are down today. that's not just on greece. that's on concerns of global slowdowns. q4 gdp is down in europe. parts of it in a recession. we talked china cutting its growth target yesterday. and anemic growth here in the united states. take a look at the s&p 500. what do you do here with the s&p 500? you pull back and wait, maybe you wait for a better level. 1,325 perhaps instead of 1,343. maybe 1,300 would be a better level. you wait to see where you get buying interest. a lot of people are waiting for a pullback. we're only down 2.5% from the recent highs. that's not a correction. that's not anything right now. that's just a minor retreat for the overall markets. take a look at t

let's bring in bob pisani.he highest level since august. a great week for german stocks. the confidence numbers were high. we're all thing closing right now another hour, close to highs in august. uk is kind of mixed. speaking of the uk, british prime minister david cameron is going to be here in about an hour and a half. he's having a private meeting with george soros. we don't know what is going on there. he won't be made available to any of us. come down on the floor, mr. prime minister. say hi, shake hands. we would love to meet you. >> interesting comments on oil in the that's 24 hours and a few other things. >> i imagine they'll be talking about europe, the regulations, the environment in europe. here in the united states, let's call it a status quo day. the ten-kroer yield we have been so concerned with at 2.27%. kind of holding steady. that's the big story. the dollar is kind of steady today. gold only up fractionally. the big backup in yields has sort of stopped today. elsewhere, same situation. the do

back with pisani. bobcumentary airing tonight on gold, and you got it first hand. >> we promised and here it is. this is what's called a london good delivery bar. it's about 400 ounces. precise weight on it. it's about 400 ounces. that's about 25 pounds. current dollar value? about $700,000 per bar. together here we got of two of them. about $1.4 bhl million in gold. the important thing here, this is the international standard for gold. cold 1a london good delivery ba. it's not the manufacturer, it's got a serial number. this identifies the bar and, of course, indicates the purity and the value of it. and that's the important thing. you've got to have some kind of international standard. we're going to show where this gold came from, showing the largest refinery in the world and, of course, the largest private gold vaut in the world. that's 9:00 p.m. eastern time tonight here on cnbc. don't miss it. >> can't wait foir it, bob. >>> when we come back, disney dropping $250 million to make "john carter" gettin

for more on yelp's first day of training, let's turn to bob pisani live. >> good morning. the hometown boys made a big splash down here. jeremy was just effusive and a great guy. he brought his mom with him. brought the employees. they're all so young. and did i tell you, they're making a lot of money today. look at this, yelp is behind me. priced at 15. it opened, marla, at 22.01. it's trading at 24 all throughout the day. so they were all here, all employees shaking hands and taking pictures of each other. met the mom, met jeremy. we had a wonderful time. it's not clear how long the price will hold up like this. hopefully it will for a while. the company's got to prove they can generate profits not just increase revenues. they've been doing the revenue part. they've got to start making money right now. >> bob, any insight into the fact that it was supposed to open between 12 and 14? >> yeah. well, the price talk was 12 to 14. the price talk means this is where they go around, they do the shows with all of the brokerage firms and say, we think it's probably reasonable to

joining ross and i, bob pisani and kelly evans. good to see you, kelly. thanks for being here. bob, let's first talk about this goldman note. goldman basically saying all in on equity, once in a generation opportunity and we're not seeing a reaction. >> why couldn't this happen 2,000 points ago is my only question. we're only 5, 6%, are we not, from the historic high in the dow jones trials average. i appreciate the call. i happen to agree with the idea but i would have liked it 2,000 points ago. i don't think it's moving the markets because i think that investment in the stock market has been low. there is not a lot of interest in the stock market. it bothers me, baffles me, frankly, 3 1/2 new year highs. still motivated as you've noted with the low volumes. >> bob, let me back away for that second. jim o'neil, last year, in the beginning in january of this year, said that is he expecting that the u.s. is going to look like the best house on the block and he was saying back in january that you want to really be buying stocks in the u.s. so this i feel like is a continuation of

meantime, i think we want to go out to bob pisani once more. it is more than a double right now. bob? >> the important thing that's going on, we're all very happy. we hit 26 preside$26.94 for mil. of course, the important thing is we had been debating whether or not we had had a hot ipo market. based on what we see in the opening, i want to get over here by rex northward that's trading at 19 and change, i'd say the market is definitely heating up. i want to see a little bit more about what cafe press is doing and how they're trading right now. melissa, did you get a number on cafe press? >> it's not open yet, bob. >> bottom line, the market is heating up. if it's not hot, it's definitely getting there. i think the fact that they've gone ahead and priced the pharmaceutical company, the biotech company at $7 is an indication things are heating up. >> institutions are beginning to buy and hold these deals. why? because they want an allocation and the next good deal and there are some people who are already gaining facebook who say, you know what? if i put in for this and i keep it,

. >> well, let's talk about that volatility because bob pisani is always talking about the vix, but he says it's important to look at the vix curve because we're trading at low levels reits now, but as we go out in the coming months, the levels seem to rise. do you worry that the volatility will increase and come back into the market? >> well, first of all, going out in the curve, it's like any other product or commodity. prices out farther will be naturally high are because of expectation of what possibly can happen. so that curve will come in just as it does in any other commodity or market. am i concerned when i look at the markets, i would hope that volatility would come back in, because as a trader, i want vol ilt, it makes it easier for traders to make money. as an investor, he you love a market that has no volatility because the market grinds higher because dull markets by themselves tend to go higher. but looking out this to the curve, i don't think that it's any concern at all and volatility, the vix right now at about 15, it looks like it's going lower. actually truly trading