bob pisani takes a look tonight. >> reporter: ipos were big in 2014 and may even be bigger in 2015. 2014 saw 275 ipos, the most since 406 companies went public in 2000 that includes the biggest of all time alibaba. health care led by biotech and technology where words like cloud computing and big data and social media all became common terms in 2014. what about 2015? the ipo market's simple. what's happening now. wall strt wants to take companies public that are growing. where do you find that in 2015? technology some of the big names may include uber airbnb pinterest, spotify and that's just in technology. other potential candidates include first data an electronic payments processor, r roku univision, a spanish language based media company and finally ferrari, a spin-off of chrysler. in consumer business fast casual did well in 2014 so good chance that smashburger may go as well. cancer therapies of any kind were offered practically every week. is anything in trouble? with yields potentially rising that makes yield-oriented names like master limited partnerships or mlps less attractive

back on the floor is kathy wood for us with our bob pisani. what are guys on the floor saying about this? >> the main story today is if this -- if this would have happened a week ago, and oil was down again today, the mark wet have taken a him. the point is, oil down, not dramatic but the's down and the stock market is essentially ignoring that again, this is an options expiration and futures expiration, it may be options related, gains we're seeing here in the last hour, but still, i think this is very impressive and maybe a sign, maybe, kelly, we are finally starting to decouple from the oil stranglehold, i think that's not too strong a word. >> the dow up 05 points. >> wow. it's great. yeah. i think there's another thing going on in terms of this good go nation, i call oil prices down good deflation. there's a lot of good deflation out there because of all the innovation that is taking place. there are tremendous breakflus technology, so we are seeing the technology cost curve at work throughout various sectors and i think the market's begin

bob pisani, happy monday. >> let's take a look at the s&p 500. we are lower as oil moved to the new lows. not that much lower. i think the market is holding up fairly well here. you see us off of our highs. s&p still positive. dow went negative a short while ago. we did see oil stocks move down. look at the exploration and production index. oil started moving south a little before noon when we started moving into negative territory. energy stocks mixed today. they all just move negative. positive a short while ago. trans ocean also lower. most of the group is in negative territory. broader implications like the hyg here. that is what you want to watch. that is the high yield momentarily a few moments ago moved into negative territory but had been positive until five, six minutes ago. the broader indexes holding up pretty well. we have a swath of bank etfs, home building etfs, metals and mining etf on the bottom remaining in positive territory. my point here is oil is effecting the market but not that dramatically not the way it used to. as for th

bob pisani is on the floor. >> that is quite a change. a few days ago, indications for the price talk was $10 to $14, $10 to $12. up to $12 to $14. it priced last night at $15. right now indications $21 to $23. why are we waiting so long for it to open? there is a lot of demand. this is a very public auction. lead book runner is morgan stanley. morgan stanley is assembling a book. 58 million shares they have sold. goldman sachs, credit suisse, various institutions will be allowed to start selling those shares this morning. they are putting together a book indicating how much demand of people who want to sell and who want to buy. when there is a lot of demand, it takes longer. that is what's happening right now. >> they just bumped it up to $22 to $24 right now. you can see various officials standing over there. renaud is standing next to tom farley. there will be another one going next week. individuals who might have very high credit card debt can consolidate that credit card debt. maybe it's 14%, 16% and sell to investors for 7%, 8%. >>

google will buy it and combine it with google wallet to ward off applepay. >> well, let's bring in bob pisanior a closer look at the predictions now. >> wow. >> bob, which one do you feel like you're really going out on a limb here? >> default? >> look. i think the russian default, all we keep hearing is this is not 1998 russia. they have bigger reserves. a different country. blah, blah, blah. what i see is the same problems, big drop in oil in 1998. big drop in metals and still basically the same mentality. export driven completely reliant largely on commodities. i think it's a very real possibility. look guys. we know there's millions of prognosticators out there and most of them are wrong. my attitude is, at least be a little bit bold in the predictions and at least try to make it interesting and that's what i try to do. >> they did say that making our predictions for 2015. be bold. i don't know. i'm starting to rethink the dow 25,000 for next yore. >> 118,000 is the new high and extrapolation, bob, if the rally continues. >> it will go on forever. i like the idea of the whole google deal

before that bob pisani on the floor. >> the leadership has changed notably since the open. you look at the board in terms of sectors which is the right by a way to look at the market quickly. tech, healthcare, industrial, fms, hey these are the rigight names to lead the rally. and certainly good they are holding close to where they were in the highs. all ten sectors in the s&p 500 are on the upside. when i started here at 9:30 on the air energy was far and away the leader. look at the xle. the energy etf. the simple way to own the s&p energy sector. 's been straight down seanince open. the problem as you might guess is oil. oil has been just all over the place the last two days. up and down and up and down. we started on the upside and it's been straight down. hitting the lows for the day right now skma haes what's been pulling energy down. ask anybody down here what would help the stock market other than the dovish fed and they will tell you some stability in oil please. so you saw oil back in october. 55, 56. better than 40% drop. this doesn't lend a lot of confidence to

here is bob pisani on the market now and in the year ahead. >> ipos were big in 2014 and may be bigger2015. 2014 saw 225 ipos the mest since 2000 including the biggest of all time, alibaba. health care led by bio tech and technology where words like cloud computing and social media became common in 2014. 2015? it is about technology again. some of the big names that may go public include uber, pinterest, box, spotify. that is just in technology. other potential candidates include first data, rocoo. univision, a spanish language based media company. and in the consumer business fast casual did well in 2014. smash burger and shake shack made go public. bio tech will continue to be hot, as well. in 2014 cancer therapies of any kind were offered in ipos practically every week. bob pisani, cnbc business news. >>> elsewhere a lot of buzz about the sony pictures movie "the interview" opened yesterday. are you planning to see this movie? go to cnbc.com/vote. weigh in yea or nay. as you know the movie has been released online and at 331 theaters in the u.s., mostly independent theaters. so far

bob pisani joins me on the floor of the nyse for perspective. >> 321,000 everybody went whoa. you could hear the air out of the room. >> upward revisions. >> and wage growth on top of that. let's look at what is moving the market today. might be surprised because my guess was industrials would lead the way, not quite here. it is actually financials as well as materials and health care modestly on the upside here. i want to point out we have a lot of new highs in financials today, regional banks are strong right across the board here. a lot might say why are regionals and banks leading the way here. i think a lot of people are betting consumer is looking a little better and with a little more money potentially good signs for the banks. these are new highs on regionals. even money center banks and big financials so all at least 52-week highs. not surprising i think we are seeing weakness in interest rate. not much. 1% down in utilities. telecom, if this was a year ago you would see a lot more panic. i think it is a sign the market is maturing a little bit. i want to point out an

bob pisani is with me at the floor. >> high yield to the down side.we are seeing weakness on the global growth story parallel to the decline in oil there has been a separate story of weak global growth. the sectors for the s&p. i want to emphasize you have the right idea here. materials are performing much worse very much exposed to the global economy much worse than even energy. energy is fourth worst sector out there. see the big names in energy. you can see chevron, exxon, usual big names are down today. it's not a great day for them. it's not as bad as some of the declines in the materials names. this is the slower global growth story. those are the names that work a lot out to the united states. another interesting thing seems to be mild panic going on. the vix at the top there at 20 is higher than the futures vix out several months from now. you don't see that very often. what that means is that traders are sort of panicking short term but not long term. i find this interesting because the s&p is only down 2% so far this month. i told my old fri

come on in, bob pisani. you and i both said it the same time a couple of seconds ago this is one of the weirdest days that i can remember in a long time. >> screwy is the way i would describe it. volatility has been amazing today. the market can't describe what it wants to do. it is volatile. we have the oil up and down. it doesn't know where it is going. we have uncertainty with russia. we have a meeting. traditionally the markets are up the day before an announcement. we have a quadruple exploreration. let me show you what is going on here. oil. there is the big story. oil goes up $2 throughout the day and then suddenly it goes up $2. now it is about even. let me show you gold. gold starts around 7:00. it just falls apart, goes down 35, a two-day chart that you are looking at. it can't decide. germany at the open thisern moing goes down 1% and then all the way back, ends up 2.5%. that is a little strange. tyler had it right with dow going down 100 points and then moves up 250 points. now it is kind of some

let's get the trading action with bob pisani. i feel like i should be wearing my santa claus hat or something. >> i know. my heavens. you're saying why are we up so much? that's why here we're. there's three reasons. i think oil is really trying to stabilize in the mid-50s. secondly, of course, as sue said, the fed is helpful. here's the other one. europe is really all in on u.s. stocks. how do i know that? because i watch the markets. look at the s&p futures. 3:00 a.m. in the morning, suddenly s&p futures which are normally fairly quiet went right through the roof. that's 3:00 a.m., that move up. that's europe. that's germany opening, pouring money into u.s. futures. that's how we know that's happening. xle here, take a look at the energy sector. oil started moving down. we had a little test midday. as soon as the stock market opened, oil stocks went negative briefly but then moved sideways. that's a very important test here. we're trying to deconnect -- disconnect from the oil sector. sectors are on the upside today. very rare,

for "nightly business report," i'm bob pisani at the new york stock exchange. >> let's turn to oil exexperts. costrich at black rock and eric wiigan for private reserve. russ, let's begin with you. how much do you think this selloff might have to go? >> i think we can certainly see more volatility, primarily because we've had such a big move over the last six weeks. you think about the move in the s&p 500, or about 14%, we were up 14% up until the last couple of days. it's a very big move in a short time. the index got back down to about 11. there was a lot of complacency. i don't think it's all about oil. we see more issues in europe rather than slower growth, it's completely possible there's more selling to be done. generally, i think the fundamentals of the market are for the most part sound. >> eric, let me ask you about oil prices. why should lower oil prices be bad, presumably if you have less energy costs, this should be good for company stocks going forward and their earnings. what do you think? >> we would agree particularly with regard to costs coming in and a benefit to the consum

bob pisani. >> joining us shortly. >> bob santelli in chicago.coombs at the nasdaq and our panel of experts over here. what stood out to you, bertha? the dow and s&p with brutal weeks and brutal for nasdaq, as well. >> it was but it was a relative outperform. not down as much as the blue chips. but, you know, you take a look at the like apple for example this week. technically weak note back below a one-month low and people not just doing tax loss selling but selling the winners it looks like maybe to preserve a little cash, take a little bit of cash off the table. at the same time, where you're really seeing the pain is in the small caps, small caps, russell 2000 is now fractionally negative for the year and what you're seeing there is some of these small cap names in energy in particular getting sold off although they don't have a huge weighting down some of them as much as 90%. and you're also seeing the regional banks, particularly the oil exposure selling off. small call industries tells me that people are worried about expansion and growth.

back to you. >> thanks, bob pisani. >>> we talked a bit about it earlier. always fun to focus on these battles between the distributors and content providers. in this case, another potential shutdown nearing with cbs and dish unable to negotiate a new deal under which dish would carry the cbs network. they set a 7:00 p.m. deadline to go dark on dish's 20 million subscribers. not the first time cbs found itself in this position. most famously 1 1/2 years ago when it battled with time warner cable. time warner cable lost having suffered significant subscriber defecti defections. football seems to be one of the key weapons here. i talked to john malone and we talked about the bundle you pay in programming. sports is the key to that bundle. it would be the key to many of these disputes. the nfl games that will come up on sunday, including the denver broncos on cbs being a key puzzle to get dish to say come to the table. they haven't been talking. cbs sent a team to denver but their key negotiator wasn't there. charlie ergen who controls dish focused on the spec

let's get to bob pisani on the floor with what's moving this morning. >> "the art of happiness" by the dalai lama. >> yes! >> i read that book. it's not a lot of religion. it's how to be happy. i was moved by that. i highly recommend it to everybody. we had a strange couple of days, folks. it is a very rare occurrence when you get the s&p up more than 4% over a two-day period. let my turn to kensho and show you what happens. this only happened 11 times since 1990 when we had back-to-back gains. three months later the s&p has been positive 8-11 times. two times it wasn't positive was the dot-com meltdown in 2000 and financial crisis in september 2008. this is a strong record. talk about the markets. we have materials, energy, financials doing better. tech lagging. energy is still holding on. we were all positive more notably a few minutes ago. it's slipping a little bit. the gains have been so dramatic in the past few days, people were taking a breather in the energy space. oil is to the up side. earnings, you talked about red hat did well. carmax did well. nike was down early on. this

bob pisani has more. >> i want to pick up my theme on the top of the hour. on a day where it doesn't seem much going on professionals seem to be buying regional banks and metal stocks. in the regional banks if you look at the kre, the etf for regional banks the highest level since april. modest accumulation. look at pnc, a large regional bank trading about 13 times forward earnings. quietly in the last couple of weeks the stocks have moved up almost every day. 13 times forward earnings not cheap but not expensive. key corp one of the big northeast regional banks. slow accumulation on these. 13 times forward earnings not cheap but not very expensive looking forward into 2015. bb&t. same situation. on days when there is nothing going on you get modest moves up day after day and suddenly you have a trend going on. investors are buying these on the hopes that interest rates will move up and yield curve will steepen. that is obviously what is going on right now. the other sector to watch is metals stocks. good examples, free port mcmoran. it started turning aroun

bob pisani on the floor. >> if it wasn't for chevron and exxon we'd be down about 80 points. they are about one-third of the decline. and there is your weakness. the spider, this is the biggest etf out there. everybody play this in and out. volume is not particularly unusual. so what we're seeing is lack of buyer enthusiasm. but remember you can go broke on low volume. what is significant on volume is high yield etfs. these have had among the highest volumes of the year. that is a new 52 week low for the gyg. the other one, we've told you many times about 16% the composition are shale place. and that is a major reason we're seeing weakness. new lows all over the place. commodities are also -- other commodity names are also among new lows. we all know how terrible a year it's been for some of these names. particularly iron ore like vale have not done well. costco keeps firing on all cylinders. fee income up 6%. earnings were decent. comparable sales up 7% overall. the loyalty of these customers really make a difference. that is new high for costco. here is the biggest problem

let's go down toe1 bob pisani f a coupleni at new york stock exchange. >> no pressure, brian. >> i'mut you are your ugly face on tv, say something interesting. here's my three predictions. i think russia can default on the debt in 2015 and the chances of this happening much higher than anybody thinks. i think 25%. that's why i'm sticking my neck out. i was here in 1998 when it happened. oil from 18 to 11. i saw the russian stock market drop 80% and i think the circumstances are a lot more similar than people want to acknowledge for 1998. that's number one. number two, despite the russia problems, there's a chance that european stock market will outperform the u.s. stock market next year. i am not saying the european economy is going to come roaring back but i have watched estimates come down on earnings for european companies for years and i think we're very near bottoming in that process. i'm talking about earnings bottoming for european stocks. finally, do like to make at least one big stock call so here's the one big stock call. google could buy paypal. i think they want to ward o

bob pisani's on the floor. >> a bit of a rally going on but it's selective rally. leading the market, carl. but seeing weakness in health care names, possibly on the announcement of abbvie. ands in energy stocks. point out the usual names, to the downside. west texas intermediate, down 1.5%. your usual big names here in exploration, drilling, anadarko, devon, national oil well, apache, all down 2%, 3%. i want to point out, we haven't talked a lot about natural gas, what's go on there. look at that number. down 8.7%. this is today. so this is a new 12-month low. in fact, 15-month low, i believe in natural gasp and while natural gas is down 20-some percent this year, maybe 27, 28%, that's not as much as west texas down 42%, it's getting a lot of attention. and attempts to distinguish between gassier plays or oily plays is not playing out very well. we're seeing notable double digit declines in names that are even more associated with natural gas at this point. look at some of the gains. these are more gassy names, you might call them, range resources, encana, chesape

bob pisani zwrojoins us. >> you get to see on the floor new companies coming into existence and 2014t a terrific year. i had a lot of fun down here. let's just show you the numbers. the 275 ipos in 2014. most since 2000. 85 billion raised. a quarter of it was one company, biggest ipo ever, alibaba. 22 billion. a quarter of all the money raised this year. 2015, trying to name a few names here. company that is people are talking about or made indication. uber, pinterest, yodle, palantir, airbnb, box, spotify and others floating around for a while now. first data, electronic payment processor, roku shlg, univision ferrari is out there, too. that's a spinoff of chrysler. we are ending the year with a bang. juno therapeutics, they love cancer treatments this year. i covered dozens of bio teches in this area. listen to this. 11 million shares at 24 and the price talk earlier 15 to 18 but they priced at 24. $36 right now. this is a bit of a misprice but up 50%. this may be the best ipo first-day trade. >> i don't understand what replaces alibaba? do you think 2015 we can top it or need a co

joining us ben willis and our own bob pisani. i know you're watchers like i am.ome of the viewers, they love it when bill starts talking technical analysis. i have a one-year chart of the russell 2000. we'll show you that. there you are. all right. you got that one? >> okay. yeah. >> one-year chart of the s&p mid cap index. ben, don't you see the same reverse head and shoulders i do? are we headed for a rally or something or what do you think? >> i only hope that. that's the -- russell 2000 is missing puzzle for the market move we have seen so i'm with you. i believe that we need that to confirm the bull run i think takes place into the end of the year and continue. >> gee, that's odd. i see a duckie and a horse sy. >> thank you. >> just trying. straining my eyes. >> how much is oil still calling the shots here bob? >> you know what? i'll tell you. today was an encouraging day. i think we are finally starting to break that correlation with oil. not only that but the greek election coming up didn't rattle europe that much. and now we had oil at new lows and while

now to the new york stock exchange where bob pisani is standing by. >>> want to talk about china. did you see what happened overnight? up 3%. that is a big move. we are talking 15-month highs. the chinese domestic market. in the middle of the year they started moving up. two things going on. chinese real estate dropping so investors taking money out of real estate and into the stock market and people's bank of china talking stimulus. the shanghai stock exchange 31% up this year. that's hong kong 1.5. look how crazy the difference is. that is because of what is going on in domestic china. mainland china getting easier to invest there. large cap etf the biggest and easiest way to invest in china 30 stocks that trade on hong kong and other places up 3%. the shares that invest in domestic china up 19%. you have to be careful what you are investing in. hopefully these crazy price discrepancies will go away as people make it easier to start investing in mainland china. we have been talking about this for a while now and now able to invest in mainland china if you can have a hong kong of

over to bob pisani at the nyse. coming back a little towards the close of trade. bob? >> a crummy day. not a horrible day. show you the market, an idea what's going on, mandy. advance decline line 3-1 declining to advancing. should be declining to declining. not the other. not a great day but really bad ones this week. worse than that. borrowing from the heavy side, heading towards 2.5 billion shares. 3 billion in a single day. . 30 new los is a lot. the most important thing to show you. over 20 today, very unusual. the cash index, current price, is higher than futures contracts out in december, january and february. that usually doesn't really happen that much. now, that's an indication traderses are in short-term panic for the next few weeks. why is this happening? fell you what i think is going on. most traders have gains for the year. most figures, only 12 trading days left. i may not make money going into the 12 trading days, but a chance i could lose a lot of money. that means panic. that means traders going out saying, oh, my heavens. i have to buy protection no

bob pisani on the floor with mor. >> there are not many alternatives and possibilities out there. i got all sorts of questions. the obvious move is the cruise lines here. and we have seen modest moves in royal caribbean and carnival. they are up. and elsewhere companies in latin america that trade here in the united states that are available. there is carnival and the royal caribbean. copal holdings. that's been moving modestly. coca-cola femsa is a colombiumo bottler. t problem is without lifting the embargo it is going to be tough to expand the investment universe. and that is the issue right now. >> thanks bob. we're getting a statementing from carnival that says there is great potential for the cruise possibilities for cruise opportunities with several ports already open for business there. >> dow is up 180. s&p looks like it wants to reclaim 2,000. we're at 1999.75 and this is led primarily by energy. we've got energy stocks on a tear. looks like a short squeeze. and a lot of names have been battered. looking at the best day in the energy sector in about three years. >> sligh

our bob pisani joins us now.ting the "wall street journal" copy of what russia may do. >> i found headlines of ukraine going. i thought that was fairly optimistic. i personally think that they're jawboning on the crew yukraine listening time. there's pressure on russia. this is a strange day. i don't just mean the dow. germany down 1% and then up 2.5%. oil and gold going up 23 and then down 35. very, very strange day. the market's really trying to figure out russia and oil right now. >> bob, there is this apparent "wall street journal" report of journals saying liquidity of russian markets evaporated and leads one to believe that this story which dominated the headlines in the overnight and early morning could be back with us yet again tomorrow and the market may have another issue in how it feels with it. >> art cashin talking about 500 million on the downside on the close here. >> yeah. look. it's simple with russia. i think this morning we had a discussion about this. they've got a certain amount of reserves l

dom, stick around for the continuing coverage of the selloff and add bob pisani.e bond pits at the cme. bertha coombs and the panel here. bertha, let's start with you because little notice is a fact that the nasdaq was the underperformer of the session today, was it not? that's my fault. bob, let's start with you. bob? >> yeah. what we saw today was obvious collateral damage of oil and the canadian banks hit and russian markets and commodity markets around the world get hit on oil and also more importantly slower growth concerns were the issue and i think that's by and large the bigger issue with all of that said i'm not in the camp that thinks lower oil is a disaster. the s&p just off historic high. off 30% in the market today? >> that's facts. rick santelli, what are the next levels to watch? >> well, i think when it comes to oil, you know, anybody who looks at a 10-year chart of oil, only two spots to pick. 40 or 60. it isn't whether you hit them on the dime. it is about what the mean of trading will be pricewise two months from today. the mean closer to 40 or

. >> with our bob pisani, when's the mood? >> energy. again.en you have high dividends and real livety high capital expend yours, credit issues. s&p came out, waiting for them to say something about the oil names, european oil names. all talking about, listen, debts, high, dividends, high, oil main asset dropping, you could have credit problems a s essentially what they were talking about. isn't this the time to buy energy? in theory. the problem is the earnings expectations are still very high. anadarko nearly 30 times 2013 earnings. exxon 19 times 2015 earnings. these are not cheap right now. they're still going to have to come down more here. dominic mentioning chesapeake. some of the shale plays are starting to look very cheap. probably 13 times forward earnings. a lot of names i could put up a bunch of them, now, guys, you are starting to interest me. back the you. >> all right. bob, thank you for now. that's bob pisani on the flor. >> the dow up 113 points right now. the rally continues from last week. ever since the fed meeting. >> yes.

bob pisani is in the new york stock exchange. the under and over of us saying market today is 17.5. >> the road was a short one. july 3 at dow 17,000. take a look at the chart. we had a nice roller coaster ride. september, october, we dropped almost 8.5%. since then come roaring back. it is a nice broad rally. take a look at leaders by percentage. you can see home depot, nike, intel up about 20%. you have retail, financials, tech with intel, health care in there. nice broad move to the upside from the overall market. speaking of health care, it is a rough day for health care etfs. pharma, nasdaq bio tech. all of them to the down side. some of this is the deal. i think there is very little liquidity in etfs out there approaching the end of the year. that might be a bit of an issue. >>> the word of the year may end up being an oldie for our viewers. it is hopium, mix of hope and optimism about the economy and the stock market. we started talking about this 3 1/2 years ago. david tepper saying remember in 1999 the s&p went to 30 on

bob pisani is back with me at post nine. it has calmed down considerably. the vix spiked but now that is moving back down. >> about the collateral effects of the oil drop. brent as well as west texas started moving to the down side. russia is the focus of all of this. how does russia pay for imports? almost half of export revenue is oil-related. that is a big issue. here is individual stocks that trade right here. all of them down. this is just on a one-day trade here. commodity countries are also weak again. you can see brazil, peru, south africa all down 1.5% to 3%. the odd thing about this on a day when oil is moving the markets the oil stocks themselves big oil in general is up today. chevron just went negative but has been positive most of the day. here is about tomorrow. one thing about the fomc meeting. starts tomorrow. there is a lot of trader lure about how to trade that and a lot of talk about that. i want to show something about our partners that sort of indicates that we have a positive trade generally on the date of tomorrow, the day before the

let's get to bob pisani standing by at the new york stock exchange. the dow is on the rise. >> the important thing is the s&p has been moving. the problem is energy. when you get 2% down or so in oil and then a 7% drop in natural gas you have problems. take a look at the xop. this is the etf to watch. both oil and natural gas are to the down side. you can see it started down and stayed down 3.5% and hasn't been going anywhere throughout the day. big names like chesapeake and range resources on the down side today. bio tech also weak. we have disappointment over at gilead. not picked for an important drug. tech stocks moving, old school tech stocks doing very well today. intel, ibm, cisco systems, texas instruments on the upside. people are moving a lot of money around internationally. we are seeing some of the international etfs with a lot of volume. look at one of the ones around the europe africa far east. the rest of the world x the united states getting a lot of volume. the symbol is efg. you want to take a look at that one, as well. finally let's

bob pisani joins me on the floor of the new york stock exchange. just the under pinnings of the market don't feel good today. >> look at chevron. 50 of the 150 points in the down side. that is exxon and chevron. there are dozens of new lows in the energy sector. here is a few including chevron down about 3%. that is a big move to the down side. we are sensitive to the markets but today there is actual news out. opec reducing growth guidance. iran talking about oil. and weekly inventory levels higher than expected. there is actually news around oil here and a reason we are moving lower. the tape is very sensitive to oil. i want to point out the stock market has done darn well. oil dropping 40% this year. there is the s&p 500. we are just off historic highs. dropping oil overall has not been any disaster for the stock market despite the decline in energy stocks. airlines great movers today. jet blue good metrics for november. american did, we had good news overall. the airlines are going to make more money in 2014 than they thought and more money in

bob pisani with jimmy gmaguire and the art cashin. >>> talking about the release out of sony with paulplans change at the last minute all the time. but this certainly got a lot more notice. >> yeah this is remarkably unique situation. and we've had a great relationship with sony and all the distributors. it is the independent that struggles at times against the chain theater. and in this case, you know, to be elevated and for us a group of independent theaters to take a position and to sort of be treated in the fore front as opposed to the background, it is good for independent cinema and good for expression in different forms. a lot of independent theaters are able to show films that the box stores can't show or don't show or won't. and this just happens to be the most unusual independent house movie in a long time. >> in the immediate aftermath there was talk of a potential streaming deal deal. sony working with netflix or another platform to bring this directly to viewers. have rereached to point where a release on the internet can reach the point where one isn't cannibalizing the o

. >>> stay with us for just a minute because bob pisani is here at post nine. number of traders down here are talking about some rather unusual moves in some key stocks. accompanied in some cases, not all, by increased volume, as well. >> they are notable because the volume spikes are unusual and secondly they don't appear to be related. let me show you a couple of things and give you ideas about what i think might be going on. a number of people have noted that infrastructure stocks moved late this morning. now, that might make a little bit of sense. president obama was out this morning very aggressively talking about expanded infrastructure. some traders have said that would make sense to see them rise on that. that is maybe true. i think there may be some of that but it wouldn't account for other stocks moving, as well. take a look at best buy. their stock kind of spiked. we saw a move to the down side on rather heavy volume. that was a little bit significant. still trying to recover. take a look at campbell soup. another stock not directly related to infras

bob pisani on the floor. is bob mcafee later than we would have liked given the events in sydney. welcome. >> i'm thinking back to three months ago, you got very cautious on the markets and it's looking smarter and smarter. >> well, you know, i think the issue that we face is that there's a lot of turmoil in the world, a lot of chaos, and i think things we can't anticipate are happening almost daily now and as investors we have to be kau us some because we've been in a long, long bull market and you don't want to be a pig at the trough when it's time to make the bacon. this is one of those times where i think caution is totally appropriate and anyone who is fully invested has to ask themselves the question, what is going to give them the lift to take them to the next level. one thing i do believe, it's possible we can get a speculative blow off from here but the conditions you have are fully valued and an awful lot of reasons why cash is going to feel more comfortable than equities. >> anyone who doubts you di

let's get out to bob pisani on the floor of the new york stock exchange.emember yesterday, yes, people said it's a great rally going on and what people were cheering is decoupled from oil. stocks higher while oil went lower. today, of course, we have both stocks and oil going higher. >> everybody's getting everything they want. this is a real santa claus rally for sure, here. we are moving up here. we were flat largely this morning kind of ambling around and toward the highs now and moving up around the time president obama began the press conference and maybe due to the very positive comments on the economy. this is what i'm talking about there. that is expiration day and huge amounts of volume pushed through and has been pushed through in the market and hard to separate it out. there's a positive effect of the roll going on in the options and futures market and let's move on to sony. you were talking about that. the president saying there's a response and modest move up a few cents. didn't say what it would be and sony's hit hard there. two or three cent

let's get down to bob pisani in the nyse. earlier there was what you call an interesting push and pull between the economies getting better. how is the market feeling now? >> it is trying to split the difference. i have been saying all day if this were a year ago that would have been down 200, maybe 300 points. the market is taking it in stride. i thought industrials would be the leaders today. it hasn't worked out that way. a lot of people are surprised financials are leading. we have new highs on all big financial names. regional names like pnc, five or six other regional banks on highs on that nice gains as well as super regionals like wells fargo and money center banks all at new highs minus declines in interest rate but not much. at least the equities part of the market taking the concern about potential higher rates very much in stride. we are at the door of 18,000. the real moves have been off of the october 15 bottom when we bottomed on that day. look at the sectors that have moved. we have strength in health care sto

bob pisani and rick santelli in chicago. looks like the stock market is liking what they heard. >> look at the s&p. we moved up eight, nine handles on the s&p on this news. the key one as you heard from steve there the fed can be patient and beginning to normalize the stance of monetary policy. a great move there they kept the considerable time in there. that's only one of several things i was watching. on the first paragraph on the economic commentary i continue to see comments that the economy is improving, under utilization of labor resources continues to diminish. third thing, did they say anything about foreign risks or try to introduce that or concerns about what is going on overseas? saw nothing at all in that. fourth one is comments on the inflation. it was interesting to see them call the effects of lower oil prices transitory in nature. look what we have here. they are patient. the economy is clearly improving. they don't have comment on foreign risk. energy drops transitory. we have long-term rates remaining low f

bob pisani, the official start of the so-called santa claus rally is actually this wednesday. history is on our side. >> we are up 1.5% on the santa claus rally. this one is really good. last five days of the year, trading days and first two trading days of the new year, last 60, 70 years led to 1.5% gain on the s&p on average. today oil down 2%. nat gas down 7% means ugly day for any kind of exploration and production name out there, chesapea chesapeake, nabors, particularly anything with a gassy end to it so to speak. a lot of people say bob it's cheap. shouldn't i buy oil stocks? here is the problem. the earnings estimates have collapsed. look at this. maybe $4 next year. it is an $80 stock. close to 20 here. meantime people say why is the dow outperforming so much today? because old school tech is doing well. ibm had a four-year low the other day. intel and cisco had great years overall. >> thank you very much. >>> what a year it has been for technology stocks. the nasdaq set to end this year with the fifth double digit percentage gain in seven years. let's get to bertha c

now, quickly, bob pisani, wait for the job report estimates, 200, 220,000 for tomorrow?228, thanks to our partners, we looked at what happens when the market tends to do a little bit better, jobs report is 20,000 or more above expectations, the s & p does trade up fractionally on that day and industrials tend to outperform, makes a little dissent. gold and gold miners underperform, you do the opposite, less than 20,000 or 20,000 below expectations, then you tend to get gold and gold miners doing better and the s & p 500 move to the downside, makes intuitive sense, but we can now quantify any of these changes. that's what's exciting about this. >> thanks, bob. we will have that job number tomorrow morning, 8:30 a.m. eastern time, right here on cnbc. that's the first hour of the "closing bell" with the dow finishing down about 18 points. here's the second hour now with kelly evans and company. i will see you tomorrow, kell. >>> thank you, bill. welcome to the "closing bell", everybody, i'm kelly evan, no record closing high bracket today, looks like the dow is going out wi

bob pisani, as you can see, is next to me here on the floor. he's tracking rally and dominic chu on the etfs riding the rally overseas. bob, you go first. >> who would have thought, mainland china dead for years, been roaring back. 4.3% today. almost vertical since the middle of the year. let me show you y.take a look at ahsr, a retail that invests in mainland china stocks being opened up to investors outside. mainland china really for the first time, one of the few funds that could own it before november when the opening happened. what we're seeing is a huge increase of volume of foreign investors going into mainland china and the stocks are going up. that sector there, that's up about 38% this year. now look at the fxi. this is a basket of 30 big chinese stocks but they trade in hong kong, not in mainland china and 80 yards outside of hong kong. it's only up about 8% so mainland china is what's hot right now. take a look at chinese oil stocks. they have been battered like all the global oil stocks. had a terrible time, but today those stocks a

. >> and downstairs to bob pisani. i noted at the top of the program, what a difference six weeks makes. you were down there. you remember that thoen on the floor and then here we are about to push through 18,000 on the k dow. >> and very different things goin'. e boebola was a big issue then. the economic news has come to the forefront. i think the key is the way the market's reaction, scott. a year and a half ago you would have seen numbers like this. the dow would have been down 150, 200, maybe even 250 as people were terrified the fed would raise rite rates sooner than later. it is certainly possible but you see the muted reaction of the stock market, particularly in financials. today the yield curve is flattening. the short end is moving to the upside. normally that is not great for financials but everyone is looking at wage gains, the .4% increase, slightly longer hours and saying this is improving. we're buying into banks on that theory. a real sign of a change in attitude. >> what is your attitude here as we wa

. >> talking of ecb and mario draghi, i'm sure your good friend bob pisani not there with you now bute scenes and i think a 2015 prediction is european stocks to outperform u.s. stocks. what do you think about that? >> i think europe yees a great place to put some money, especially next year and especially if the ecb starts to support. i think you have to be careful and wait until you get more of a direction. i think investors given mario draghi a hall pass up until now and jawboning the markets higher. i think in january he's going to have to do that. if he does it, then i think you will see european markets really take off. >> what's going to be the black swan event of 2015? could it possibly be like a red swan in the form of russia or china or not really care what's going on over there? >> no. you know, it's funny because you care when you care. right? >> right. >> when all of a sudden when the market decides to care about it, it cares about it. people put it in the back burner and realize it's kind of happening in the background but as long as it doesn't affect them here at home i

bob pisani joins us live from the new york stock exchange floor. as dow hits 18,000 we have hedge fund worried about the market in 2015. >> i want to point out it is a short road. dow 17,000 was july 3. let me show you stocks that have moved the dow from 17 to 18. this is a very broad rally. we have home depot up 24%. there is your health care. visa your financials up 22%. nike, your consumer discretionary. intel up about 20%. there is your tech. it is a broad rally in terms of sectors. we will talk more about that in the next half hour. today having a little trouble. the reason the nasdaq is under performing everything else is because bio tech is getting clobbered. another second day in a row where the deal hit gilead yesterday, a little bit of follow through here. that is why the nasdaq is under performing. we had disappointment on new home sales following disappointing existing home sales numbers from yesterday. and the home builders are fractionally to the down side today. you mentioned david tepor on with an e-mail exchange this morning. here

let us bring in bob pisani. how much of today's lower stock move has to do with oil? >> a lot of it does. the energy sector is down 3.5%. energy is maybe 15% of the s&p 500. chevron is at a new low. that is probably 50 or 60 points. the reason the dow is declining. with all of that we are just off historic highs with oil down 40% on the year and the energy complex notably down on the year. despite all of that we are just off of historic highs. today clearly is effecting the stock market but if you had to look at it on an overall level i say this year clearly the decline in oil has not dramatically hurt the stock market, maybe net positive and even including the decline in energy stocks. >> we did show you a chart that we had made that shows we tend to correlate maybe not immediately. here is my other connection. the vix is up 50% since last friday. the vix is seen as a measure of fear and volatility. if this was purely just an oil story i'm not sure the vix would have surged this month. what other stuff is being sort of whispered about? >> the important thing is the c