at the bottom of the java sea. at the moment they don't know if the plane is one piece or broken up. the official could not confirm the report. reported by "the wall street journal" the plane was turned upside down. mary what do you think of this new information? >> well it is very important. very useful information. and what we want to hear is also that the tail portion of the fuselage is still on. which would give them the black boxes we hope. but the fact that it is upside down. may not be able to tell anything. obviously, if the plane haddynamic stall. it can fall to the earth like a leaf kind of belly first. or it could, you know could be spenting down. that doesn't really matter. once it hits the water, even if it caught one wing or the other could be turned upside down in the crash sequence. but with a large pieces like that you would think that perhaps it did, did fall. belly first. like that air france 447. and, and, absorb some of the impact with the water to have a big piece like that survive. >> mary re

the bottom of the sea. we are talking about certain depths and we'll get to that shortly, i want to go straight to the news conference. i understand some of it is in english. >> and any other type -- >> how is the weather condition for the search and rescue right now? >> right now? >> i think today the weather is good, but i will check. the visibility is good. >> is there an area for rescue or not? >> the last contact -- it is quite wide. it's not small. because we have many aircraft operations there. from singapore and malaysia. >> comparing to the situation -- >> sorry, i couldn't understand -- >> prepa >> comparing this to the situation of malaysia airlines earlier this year -- >> okay, hopefully we get -- because we have many -- >> any special look -- >> yes, i understand. as i have already -- that we e use -- near this point we have radar -- connected -- satellite. and this is only about 150 miles from -- >> live news conference happening there in indonesia, 10:05 local time in the morning, is a monday

welcome back to "bottom line."oday, president putin said that his economy would overcome the situation. when asked how long, he said in the most favorable circumstances it would take about two years. what about the most unfavorable circumstances? what should the russian people expect? >> it will be a long road for the russian people. the numbers in russia just don't add up. about half of the budget revenues, a quarter of the economy, and more than half of the export revenues are dependent on oil, natural gas, and other sources of energy. that, the sanctions are having a bit of a bite in terms of access to the financial markets. in addition to all of the economic mismanagement in russia, these external factors will put enormous pressure and it will take a very great deal of effort to pull out of this. >> this week, russia's central bank raged it -- raised its benchmark interest rate to 17% from 10.5%. the country has already spent $87 billion, about 17% of its foreign exchange reserves, trying to prevent and collaps

calling bottoms yourself can be a dangerous activity. you come in too early as so often happens, you're going to get caught. but sometimes the market will pretty much call the bottom for you, and that's what happened in 2009 when caterpillar reported awful numbers. the analysts eviscerated their estimates and the stock barely batted an eyelash. it may seem counterintuitive to buy a stock right after the estimates have been slashed, but when you think about it, that's what makes a great deal of sense. you want to wait until a stock has been derisked until the bad news is baked into the share price. then you can build a position that might lead to tremendous profits down the road. sure enough, caterpillar scored from that for months on end as business improved worldwide and the analysts had to steadily raise earnings estimates from levels that were far too low, particularly those 50% cuts. the big money was made if you bought an estimate cut, not an estimate boost, because cat earnings had troughed, and anybody could have caught this move

that's and it did bottom out.t will probably take a couple of minutes after 2:30 for it to settle. aboveoup, looking at back $100. an adjustment to the global energy costs, and then a $10 1%p below is almost a increase in gdp, through the end of 2018. pretty remarkable, mark. anddrops we saw in crude brent oil, the biggest drop in six years. >> commodities reporter su keenan, and we will have more with catherine, a strategist, coming up in about 10 minutes right here on "bottom line." black friday, indeed, for retailers. sales fell by an estimated 11%. our senior markets correspondent julie hyman joins us in the studio with details. what happened? >> well, you would think those oil prices and the falling oil prices that su keenan was talking about would have been positive. you would think the jobs situation would have been positive, but that did not happen, at least according to this survey, and as you said, spending down 11%. spent 6.4% shopper less, and traffic was also down about 4.5%. this is being explained i

>> from bloomberg world headquarters in new york, i am mark crumpton, this is "bottom line. -- bottom line." the intersection of main street and economics. to our viewers here in the united states and those of you joining us around the world, welcome. we have full coverage of the stocks and stories making headlines on this tuesday. su keenan tells us why crude oil prices are dropping again after a one-day bounds. matt miller tells us how discounts helped gm, ford, and chrysler auto sales. and peter cook is live on takata sidesteps demands for national recall. good afternoon, are we headed for a showdown at this point? >> it certainly seems like we're are headed for a showdown between the government and this japanese auto parts maker. today we had an interview with the ceo of takata, and he again apologized for the injuries related to the exploding airbags and said the company would go even further in their commitment to public safety, but he stopped short in committing to initiating of the national recall that was directly requested by the national trot affect -- national traffic high

this is "bottom line." -- bloomberg world headquarters in new york, i'm mark crumpton. this is "bottom line." to our viewers here in the united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today. -- crude oil dropping to a five-year low. shelby holliday tells us why printing -- plunging gas prices are a win-win for costco. peter cook is on capitol hill with new developments in the $1.1 trillion spending bill. those stories and more coming up. let's get you right to the top stories we are following at this hour. stocks are calling for a 30 day in energyoute producers. opec cut its demand forecast. there was a look at the dow jones industrial average at this hour, down 1.25%. showing we are down 1.25%. the nasdaq composite index is down nearly 1.25%. oil prices keep falling and opec made it clear that demand won't be rising anytime soon. cartel could its forecast for 2015 to the lowest level in 12 years. says the sharpt fal

here is the bottom line. stocks like sports are unfair sometimes. right now they are as unfair as i have ever seen them to which i say so what, to the victor goes the buyers. that is just the way it is at least through the end of the year. how about we go to aaron in my home state of new jersey? >> caller: booyah, jim, how are you doing? >> real good. how about you, partner? we ought to talk at least fishing. what do you got? >> caller: i'm considering buying ibm. i understand they won in some bank in the netherlands and leader of infrastructure and a lot of analysts are bullish on ibm lately. >> i don't want to beat a dead fish. i am not a buyer of ibm because i don't think they have the earnings momentum. people want the stock that is up the hugest and not the one that is down the most. given the earnings situation i don't blame them. why don't we go to steve in california? >> caller: hi, mr. cramer, booyah. >> booyah hook to you. what is going on? >> caller: i am experiencing a very unique thing here in lo

welcome back to "bottom line," to see you. the ruble has depreciated 38% against the dollar since june. are we witnessing a repeat of 1998 when the russian parliament defaulted on the debt or is the deal y better prepared to with this this time around. >> the biggest one is the on oil prices putting pressures on revenues and worries about companies and pay back being able to their debt. that's the same this time. what's different is russia is in a much better fiscal position. they don't need to borrow abroad their trade deficit. running a small budget deficit. a much more solid footing than then. it doesn't mean it will be easy for them, they're going to have a severe recession next year. the drop you're seeing in the ruble, are you concerned it could be the start of a contagion? >> we don't think so. another big difference that we ee in terms of the emerging market landscape and in 1998, a much more mature and robust then.se than we had russia doesn't make up much of the index and it doesn't seem to particular to what's going

a lot of people are trying to pick the bottom of the price futures group. bill clinton calls it very risky and he is not alone. check out this deal on the tricky question of corrections. >> we think of the house oil bottoms in the second quarter of next year as supply coming online that is already in place, but as you start to reduce projects with lower oil it gets bullish. i think of the market sees through that. you can show that the stocks are working for the earnings provision bottom and it is a bit of a gamble when you hear that oil is going to be higher in six to 12 months. >> a bit of a gamble indeed. off their lows of the session, but not by much. 63:30 off the bottom. >> that is not the only story we are following. we have some big swings in precious metal prices. >> gold and silver have been on a wild ride as well, due to the swings in oil and the dollar. for precious metals there is a group of volatility not tying in my roughly a year and in terms of price options we're looking at the highest levels in three .onths many investors betting on stimu

the plane is resting at the bottom of the java sea. the families of the passengers have been given the sad news at this point. our coverage is going to continue now at cnn center in atlanta. good night. >> thank for that, don. and hello, and welcome to our viewers in the united states and around the world. >> we are following that news out of indonesia where search crews using sonar have found the main fuselage of flight 8501. >> and it's on the floor of the sea. investigators are hoping to recover the black boxes. >> meanwhile, they continue to find wreckage and bodies. so far they've found five bodies and one flight attendant. >> let's now turn to cnn's gary tuckman. he joins us live from the international airport in indonesia. there's been so much new information in recent hours, but really, still no answers as to what happened. what are families being told? >>> first of all, i want to show you, right here as we're speaking to you, these are family members of people on the plane. and they just came out of a prayer service being held

this is "bottom line." to our viewers here in the united states and those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines on this tuesday. looks at the senate's report on the cia's and interrogation program. the republican party possible ratings. -- publican party's poll ratings. concerns over venezuelan debt. stocks dropped around the world on concern that tighter lending roles -- rules and china will slow growth. the s&p 500 is seeing a second day of losses and the stocks slid more than 2%. the shanghai composite index plunged more than 5%. larry think remains optimistic. he says the equity markets are cheap and that corporate profits are keeping pace. >> despite this dramatic increase in prices, we are fair value to modestly above fair value today. we are not at the levels we saw in 2000. we are not seeing the same pes where you had true bubbles. >> boeing is cutting production , thes 747 eight jumbo jet third cut announcement in less tha

the top officials say based on radar data the jet is likely at the bottom of the sea.jecture. >> it is. they're, working off the data they have and when they lost contact with the plane. you have ships and helicopter and aircraft from several countries now taking part in this search. now 28 hours or so after the plane disappeared. it was of course enroute to singapore after taking off from surabaya in indonesia. >> on board, 162 people. 155 were indonesians. shortly before communication was lost, the captain of the plane asked for a change in altitude because of bad weather. >> let's go now to cnn's paula hancocks who joins us on the line from indonesia, where some of the search is being launched. paint a picture for us what's going on there, paula. >> well michael, i've just landed here at the airport. and on the runway i can see there's three helicopters, there's one search and rescue one navy one army. we've been speaking to them on board, and they said they did one sortie today and didn't find anything. but they're refueling now and hoping to get back in the air ju

more bottom line after these words from our sponsors. >> welcome back to the second half-hour of bottom line on bloomberg television. thank you for staying with us. be joining a ld wave of israeli start-ups listing here in the united states. they make predictive marketing software for facebook, ebay and wal-mart. the firm's ceo spoke about its growth strategy. >> we have businesses of every kind and size from small to large. we help them search the intent of their consumers and create engine -- engagements in social. creating this view between what are the offerings of those advertisers and what are the buyers are looking for and creating conversion. meaning business coming into the companies is what we do for a living. >> how is growth? kenshoo has experienced tremendous growth. this company since 2006 when we started keeps doubling and tripling in sales over the years. we are now over 6 understood employees and it seems like it is getting brighter. any listing here where they are trying to target smaller and medium sized technology company? >> i prefer the question of where we are pla

to "bottom line ."et's get you some of the other stories we're following at this hour. nasa's paul ryan spacecraft made a bull's-eye splashdown in the pacific ocean following a test flight that ushered in a new era of human and ration aiming for mark -- human exploration aiming for mars. ♪ 1.5, 4, 3, 2, and lift off. at dawn. and a new eraion of american space exploration. and separation. separation -- [indiscernible] ♪ >> we are tracking straight down the corridor, on target for splashdown in the pacific ocean. 50,000 feet -- 15,000 feet until splashdown. we have splashdown. splashdown confirmed. >> president obama is calling ashton carter one of america's foremost national security leaders. the president nominated carter as the u.s. secretary of defense . he was the deputy secretary of defense from 2011 until 2013 and was the pentagon's technology and weapons buying chief. if confirmed by the senate, he chuck hagel who resigned last month under pressure from the president. the chair of the foreign rel

welcome back to "bottom lin --"bottom line." was going to start by talking about the nation's fiscal picture but i want to talk about what peter cook was talking about with immigration. there any possibility that immigration reform can or will be separated from overall funding issues? hashe plan that the speaker laid out for how you might separate funding the government for the rest of the fiscal year -- let's keep in mind this government should have been funded starting on october 1. we are already doing these ad hoc measures. i think the plan to separate the funding of most of government and leave the immigration fight for the next couple of months seems like a plan that is likely to succeed. i would certainly say i don't think we will have a shutdown. i do think fighting over immigration and the actions of the white house, in terms of moving forward on their own, we are going to see that come up repeatedly over the coming months. we would like to see bipartisan progress on immigration reform. it seemed like there was hope for

ladies, thank you for joining me on "bottom line." it is not a bottom line issue for you.on and about change. tell us about your company's mission. >> the idea is to support women and to amplify the voices of women who are actually making a difference in the world. so women who are creating businesses that are actually used for the greater good, for social purposes and for sustainability, like we'll is a for example. >> 30 years ago when you started, -- like melissa for example. >> 30 years ago when you started, who was there to help you? who was there to amplify your voice? >> i don't think anyone did, really. that is why this is so important to me. i had friends and a support network and that was critical. >> miss manning, what was your support network like for you --e named the eileen grant eileen fisher grant recipient. >> being part of this new community has really helped engender a lot of confidence and a voice where before i felt isolated. creativity, how has this new community amplified your ability to be creative in what you do? >> i think the best example is solv

that has led some people to believe that we're at a bottom. think this is still a not great quarter. why? because management's not that good. so why does my charitable trust own some? we think the stock has a bottom at 32. i think the company, you buy half before the quarter. you buy half after. the franchise is too valuable to be left alone. this company will not be independent if it stays in the 40s at this point next year. that's what i think. i want you to own it. i said it yesterday, i feel strongly that i'm going to be right on this. barbara in california, barbara? >> caller: hello, jim. i just wanted to ask you a question today about coors. i have 600 shares of coors at $91. should i hold or sell? >> well, as "the financial times" kind of intimated to me when they did a spoof of the show this morning, doesn't matter where it came from, it matters where it's going to. i think that you're in the wr g wrong. just witnessing what's going down there at canal street. i do like kate spade more than coach and more than i like kors. you have a g

and air france 447, whatever went to the bottom stayed on the bottom. the only thing that's going to stay object on the bottom in this area are the really heavy things the engines, landing gear the hard solid pieces of metal. >> what do you make of the fact that in the recovery zone we've found seven bodies and a few pieces of the wreckage. things that would float from the interior of an airplane. >> it's too early for me to say it's conclusive in any way. however what concerns me is there's not much debris here. all we see is the slide, the raft the -- >> do you think that means a mostly intact plane on the bottom of the ocean? >> i do. the fact that it's there means there was some kind of breach, but now we've got no debris. >> we talked about the depth. so the depth in the water, about 100 feet for 850 1. it's fascinating when you layer on the other crashes that have made news air france 447, 12,000 feet. air france in the case of this flight this flight just 100 feet. found in three days. you look at how long it took two years to find air france 447

the wreckage at the bottom of the java sea. we'll talk live with an aviation expert on what we're learning from thf latest discovery. stay with us. thanks. ♪ ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪ ♪ cut it out. >>see you tomorrow. ♪ ♪ >> indonesian authorities say they've found the location of air asian flight 8501 using sonar. they say it's at the bottom of the java sea, but they still don't know whether the main body of the plane is in one piece. we're joined now by an aviation expert from sydney australia. a lot of conflicting information coming out. we probably don't know everything. what do you make so far of what you're seeing, the pictures and of course the latest information that they might have found the main body of the plane? 4 4. >> robin, hello, yes. there's conflicting information. i do hope i sincerely hope that really is the body of the aircraft that they've located pen they seem to be quite positive about

search crews using sonar may have found the wreckage of 8501 on the bottom of the java sea.rief-stricken families were informed of the news by indonesian officials. overnight, the body of a seventh victim was retrieved from the water. it's still not known if the plane is in one piece or broke up while it crashed. right now, this search and recovery operation involving dozens of ships, dozens of planes is being hampered by bad weather. >>> publicly the obama administration is still blaming north korea for the cyberattack on sony pictures and says it is likely they had help. but cybersecurity experts are now telling the fbi that it is possible the big sony hack may have been an inside job. we get more from cnn's pamela brown. >> well good morning, christine, fbi officials we've been speaking with are adamant that the initial assessment that was publicly revealed that noshlg korea and solely north korea is behind the hack is still the case. officials say they're view has not changed. even after fbi agents in st. louis met with cyberexperts with the security firm called norse. a

here is my bottom line. the federal reserve and the oil futures have given the world some breathing room and the bulls rejoice while the bears got cut short in a rip your face off rally that as long as oil stabilizes or goes higher before resuming its decline we might see more upward pressure on our markets. may i go to bob in washington? bob. >> caller: love your show. a big booyah from our nation's capitol. >> good to have you as long as it isn't in the front page for business we are in good shape. go ahead. >> caller: good luck to your eagles by the way. what about bt, british telecom. it is up to almost 63 today. what are your thoughts? >> my thought is this, that is one heck of a home run. why don't you just ring the register? you came with all of this pressure on verizon and at&t you don't know where that is going to be. i want you to take the gain and go buy yourself a couple of nice cashmere sweaters. >>> let's go to eric in colorado. >> caller: hey, booyah here from littleton. thanks for having me.

that's the best case, and then you go to the bottom. there's every chance that we go below the bottom of the channel. >> got a question, send us a tweet at options action and for everything options action, check out the web site optionsaction.cnbc.com. here's what's coming up next. >>> what's more painful than this? >> stop! stop! >> possibly owning apple shares into christmas. but we've got a way to profit. plus -- >> you want to see something really scary? >> just look at the vix, you won't believe how high traders see it going by next month. we'll tell you how to protect yourself when options actions return. >>> stocks are tropg and fear is surging. the volatility index rocketing this week and some traders think the vix is going to go much higher from here. mike, what did you see this week? >> it was interesting. we saw about three times the average daily call volume in the vix but before we get to the trade we saw, i think we should take a look at the last year in the s&p for historical perspective. so if we go back and look, dan wa

. >> the early presumption is that the aircraft is lying on the bottom of the sea. >> it is really early to speculate speculate. >> there's a lot of indonesian families holding out hope for a miracle. >>> at the bottom of the sea, that's all we know this hour about the likely location of missing airasia qz8501 carrying 162 people. the plane disappeared sunday morning 42 minutes after taking off from indonesia to singapore. oily spots were ruled out as unrelated. when the sun rises in a few hours, a third day of searching will continue with about 30 ships and 15 aircraft from four different countries. the search area will expand for today's search containing at least four new sectors including ground area. this afternoon the state department eds indonesia made a formal request for u.s. to aid. they are still determining how the u.s. will assist. what caused the plane's disappearance is still an open question. yesterday dozens of passengers on board family began to wait where the flight began awaiting news. joining me now senior british officer who has logged more than 3,000 hours of flyin

that we could get to the bottom of this. >> so you don't have -- you haven't been able to get -- since they reported back monday, you don't have -- will you be able to share with us your -- what they submitted? >> we will dig in to all that information and we will be more than happy to brief you and the committee on what we find. >> what has been your response to the reports and the under reporting, 1,700 cases by honda as relates to how you all are supposed to function? >> my personal response was shock and frustration that honda has failed so significantly to follow the act. again, we issued a special order to honda to get to the bottom of this and to push them to discover not only about the 1,700 failures but what other failures are associated with their reporting of early warning data and information. we are -- our team has gotten back that information also just recently. we're digging through that information. and to determine -- they have basically admitted third guilt. now the question that we're trying to determine is how many different ways did they fail? how many different wa

and visibility is very bad because of the intense smoke from the fires, a number of oil rigs in the bottom of the ferry, and those have burned and they're trying very hard not to leave the ship too much. just keep the fire contained. get the people off and determine what they can ferry. >> the ferry still burning in the sea between greece and italy. appreciate it thank you very much. i'm poppy harlow in new york. our coverage continuing live coverage of missing airasia flight 8501 continues right now. >>> this is cnn breaking news. >> all right. top of the hour 9:00 eastern here and we are live in new york continuing to cover this breaking news this tragic news of another missing passenger airline. we're talking about a routine flight in southeast asia over the water, suddenly disappears without warning. so far still, no trace. let's reset, run down what we know at this hour. still a lot of questions, but we know that the search has resumed. the weather has gotten better for the search and rescue crewing. they were able to talk off again at dawn joined a coordinated effort on the air and t

sonar has located wreckage on the bottom of the java sea.s still not known if the airbus is in one piece or broken up. seven bodies were recovered overnight. those bodies include one of the plane's flight attendants. the first two of those bodies are now back there in surabaya. dozens of ships and planes have been involved in the search and recovery operation but that operation has been halted now. in the past half hour they halted that operation due to bad weather. cnn's gary tuchman is live in indonesia for us gary. >> reporter: christine, hello to you, surabaya indonesia, now dusk. an hour ago, the decision was made it was too windy, too murky, too foggy to continue safely with the ships and 30 threatens or so on the sea looking for those aboard the airasia 8501 flight. behind me the crisis center at the surabaya airport. this is where the plane left sunday. 100 family members inside the doors that is not open right now. the public is not allowed inside. what i've seen is family members determined to do right by this missing family member

here's the bottom line. do not trump the fundamentals and stocks can be dangerous whether they're owned long or short term or the valuations have gone to extremes. during those times, promise me please you can't base investment decisions on the tax man. pay it! barbara in new york. barbara? >> hello, mr. cramer. how are you tonight? >> i'm fine barbara. how about you? >> excellent. my question today is about iras. if i want to convert my traditional ira which has been funded by after-tax money to a roth ira. >> okay. >> do i make subsequent new contributions to this new ira or do i need to open a new traditional ira? >> for roth ira in questions these are personal decisions that you must make in consultation with your tax advisers which is exactly what i do. so i am not going to make a broad generalization because it's not the right thing for everybody. that's really important. personal decisions, accountants and advisers, i like them. all right. listen, you have to pay the tax man, but remember your investm

we got to the bottom of that problem, determine the problem and got those vehicles recalled. that said we find them not just once but multiple times and in that case we work closely with the justice department in an effort that ultimately led to fines of more than $1 billion. see back for the record i didn't mention the manufacture, you did not have to be clear. mr. chairman i appreciate it and i yield back. >> thank you. i recognize the gentleman from maryland for five minutes. >> thank you mr. chairman. i does have a question about your compassion is an agency and whether you feel that you have the resources you need to do the job and what your capacity currently is in terms of reinforcing public disclosure and urging greater transparency and looking at this particular incident that we are investigating and we are having testimony on today would enhance capacity, additional staff dedicated to the office of defect investigations to the early warning reporting and so forth. but that of assisted irritants in the simpsons and more broadly if he could speak to your capacity that

how crews spotted the plane at the bottom of the sea. >>> black box race. to find the plane's cockpit voice and data recorders. do they hold the key to what brought down the flight? >> grueling search high-tech tools combing the ocean floor in search for clues to the disaster. we'll talk to a man who helped find flight 447 on the bottom of the atlantic. wolf blitzer is off today. i'm brianna keilar. you're in

we bottomed out right around noon.he dow jones industrial average -- the dow jones was up 120 points and then fell to a loss in 30 minutes. 17,188 is the level. as we mentioned this morning on "in the loop with betty liu," strongly affected by moves in apple. importantly,e most though tom keene may disagree and interject that the ruble is important -- new york crude is down 3%. $56.07 a barrel. amazing to watch the cascading prices for oil, regardless of where you look. here you see new york coming down well below $60 a barrel. here and now falling even further today at $55.99. the national association of homebuilders, wells fargo builder sentiment index, lifted 257, up one point from 58 in november. sales conditions good rather than poor. the view of current sales conditions decline slightly. better than a stick in the eye, but not getting any better from there. adrian peterson and the nfl players association are challenging and arbitration decision upholding his indefinite suspension. the suspension came after peters

this is "a bottom line," the finance and of economics with the main street perspective. to our viewers in the united states and those joining us from around the world, welcome. we have full coverage of the stories making headlines this friday. the only one who knows what inside your medicine cabinet. phil mattingly reports on what some are calling a war on wall cook has theeter latest details on the spending bill as it reaches the u.s. senate. we will get to all three in a moment, but first, let's get to some of the top stories we are following this hour. the s&p 500 is headed to its biggest drop in two months as oil continues to sell off. the s&p is down as you can see more than .5%. thedow is falling and nasdaq is down fractionally. oil is under pressure yet again. crude is over 3% atthe red, right now $58.06. low oil prices are hurting the economy. what this bloomberg may mean for fuel costs. >> when prices collapse like this, it is a scramble. we de-hedge, in a sense, and then look for opportunities to read hedge when we can. when prices fall, overall, the airline ha

there were hundreds of vehicles in the bottom of the ship. and there were calls standing out in the elements. and as the rescue boats and the fire brigade was trying to put out the fire insides boat, they were spraying water, obviously, on top of all these passengers standing outside on the deck. they couldn't go in. there's no safe area to go in. so it's a terrible situation for the people waiting to be rescued. and they airlifted many of the women and children yesterday, and they arrived on its italian soil earlier yesterday. right now they're waiting for the first boat to arrive with passengers but even that they've had problems trying to dock in a harbor. they tried to dock at midnight local time last night, but the seas were too rough. so now they're moving their way up and expect to make landfall. so those passengers who are arriving by boat and have been rescued from that burning ferry. >> i tell you what the video that we've been seeing, i can't imagine what ift's like spending so much time on a ferry burning. there's no risk that thi

they should have been able to hold that fire, contain it in the bottom part of the ship. instead, it ripped through the ship. the 287 passengers are standing outside all huddled in the upper deck of the ship. of course, you have to think that the tugboats that put out the fire in the ship have, spraying water on the passengers and on the ship all day long in freezing conditions. it's got to be miserable for all of them involved. hopefully they'll get everybody off by morning is what they're hoping. >> let's hope that they do. we'll be checking in with you throughout the evening, barbie nadeau. >>> top of the007:00 teeeastern. i'm poppy harlow joining you from new york. this is our special coverage. >> this is cnn breaking news. >> this is our special coverage of another missing airliner. thank you for being with me. let me reset what we know at this hour. as i said, another airline missing, another commercial passenger jet has disappeared. these an anguished people in indonesia waiting on word. friends, family, on board this commercial flight from right over the java sea

i think if that has to be bottoming.n't live in their mother's basement, me excluded, forever. >> oil goes to 45 and the stock market would collapse if it did, and now you're saying that people buy houses -- >> but houses are based on where interest rates are. so if you don't fully -- interest rates are at historic lows. >> they're still not selling. >> but people are unsure about whether the economy is going at this appointment. at a certain point you're going to have to buy a house. this is not something -- you're engoing to rent -- >> not if you have a job. >> the job market seems okay. >> you have two different things going on. one is market sentiment. things can trade anywhere, any price. you're talking about the fundamentals of household formation, which i totally buy that theory, actually. that over time, i do think that's going to work. where it can go in the meantime? >> i mean, that makes that call today, a very interesting call, because again the markets are spooked across the board. we tau adnationalium about

this is not somewhere on the bottom of the indian ocean. this is the java sea, it is shallow, well mapped it is an incredibly bus eye travel route with planes and boats. we're now 37 hours into this. why has there not been any sign of any debris? why is this taking so long? >> well that's a very good question and you are absolutely right, john it's a very intensely traveled part of the world with aircraft and ships. first of all, yesterday the weather was foul as we know. terrible weather. therefore, that would have hampered visibility for other aircraft or other ships in the area. it would have hampered the ability of the searchers to actually sight this plane. then let's reference to air france 447 that disappeared in june 2009. it took them three days to find the initial debris of that airplane. and then it took two years more to actually find the plane at the bottom of the atlantaic. so it's not as easy as we'd like to think. and when you're traveling at 200 or 300 miles per hour across the ocean, things can sometimes be very difficult

stock is climbing off bottom of a channel, we're bottom fishing.like to see it close above 80. more conservative investors are knoll jump in until then, i think that stock will change hands at $90 a share. i like it long-term, it has greater than average volatility. >> a cheap stock. growing fast, peg is .54, this after market used cars this is the way to go, this is one to own, we have a $85 target. charles: do you? >> statement store sale could sales, best in case, if you believe in auto sales, this is it. charles: do bluff in auto sector? do you think that low hanging fruit is over. anyone ste skep skeptical. >> great holiday sales, that is one thing, you look at this weekend people are buying bigger cars. that is great thing about oil prices, big f-150s. charles: that new one comes out, ooh. >> with wages flat, many day-to-day costs going up there are a lot of ways for middle class to get squeezeed. i want to focus on what matters. you may have to give up things that don't matter. as a way of lifting your lot in life, you don't' to miss this. h

this stock, trading back near the 520 level, double or triple bottom on this stock, bottom of one year range, company that is not broken, company that needs a catalyst, it is 20 plus top line growth, 22 multiple, i can buy that right here. >> i'm long both of them. i'm long google and yahoo!. i feel -- >> you like both. >> i do like both. >> i'm longer yahoo! >> you more rather. >> i would rather -- >> okay. anyway. >> i think that you have a better trading opportunity with google because i think this whole downgrade is a really late to the game here. where is it in the process? i think you're better off, make risk $10 to the downside for a couple of head winds with google. i think you have a good upside here. >> next up, starbucks, big day of gains for the stock after opening the doorers to the starbucks reserve roastry and tasting room in seattle. billed as a megastore that looks more like a coffee candy store and hopes to capitalize on the high end. howard schultz speaking to cnbc moments ago about that roastry. >> we dreamed about this moment that we can open up a -- such an immers

this woman saying, from the bottom of my heart, i want them to still be alive. as for that charter flight that airasia was going to give family members so that they could pray for their loved ones over the last known location of the plane, that has been postponed, lester, so that they can focus on the search. >> katy, thanks. >>> a lot of the questions about what happened to flight 8501 including how the crew planned to circumvent those storm cells will be answered once the cockpit and flight data recorders, the so-called black boxes, are recovered. with more on that and what investigators will be paying very close attention to, is nbc's tom costello. >> reporter: if flight 8501 is resting at the bottom of the java sea, a priority for search teams will be finding the tail section that holds the plane's cockpit voice and flight data recorders. while the flight was thought to be at 32,000 feet, flightaware's radar image shows it at 36,300. the pilot had asked to climb to 38,000 feet to avoid bad weather but air traffic control denied the request because of other a

i think that to get to anywhere near a bottom, short-term bottom we need to see oil down a lot and then buyers come in and have some support. there was no support, sadly, and couple bucks down. it's painful. >> i think 1950 comes in for a number of reasons. in my world, a 50% correction of the october 15th low and recent high we made. 1950 comes into play on moving averages as well. feels as though that's where the s&p wants to trade. i've been in the camp that if the russell, if the iwm, can't get above 121 be careful. it didn't and now we're at 113. that feels like it wants to push down 108. those are the levels you to watch for on both holds the first down down. >> an interesting trade, the energy equities. you saw them try to remain positive much of the session. names like exxon which finished in the green today doing well. do you believe the thees sis equities will bottom before oil prices? >> a lot are talking ability that. the upgrade effects didn't hurt today when looking at the equities but yes, i mean if they can stabilize and actually show us that despite oil going further do

sonar is showing us what is at the bottom right? >> exactly. it's emitting that sound and then it interprets it in order to draw a 3-d image of what is on the sea floor. >> reporter: that will help the investigators mark the debris field so the process of salvaging as much of the plane can begin. and brianna, it is a very slow process, to say the least. what they have to do they call it mowing the lawn. over the search area they go back and forth, slowly over it over it and over again so they can build up this image and increase it so they can find the debris field and hopefully, hopefully locate this plane. >> yeah that is a lot of work. stephanie elam thank you so much. with us now, cnn analyst david gallo who helped discover the wreckage of air france flight 447. from sydney, australia, we have an ocean nagographer. david, you helped find air france flight 447. you had searchers finding wreckage there within the first week really within days. but then it took the better part of two years to actually find the majority of the plane. do you thi

early indications the plane is at the bottom of the sea.ships, planes and helicopters are searching. and families of those on board are anxiously awaiting answers. >>> we are following another breaking news. a rescue from a burning ferry off the coast of italy. nearly 300 passengers taken to safety. 150 others still on board that smoldering ship. rough weather has slowed the rescue efforts here. cnn's elinda labropoulou is here with us. we are talking freezing cold temperatures and very difficult as they try to choreography of helicopters to pluck people off the burning ferry two by two. it is taking a long time. >> reporter: choreography is pretty good way to explain it. the fire broke out 30 hours ago. the first ships trying to approach not long after that. it has been so difficult because of the weather conditions in the area. the operations are underway. two-thirds of passengers have now been removed from the ship. about 150 more remain. some of them have reached the port in italy and others taken to greece. there have been operations t

i think we're very close to a bottom. could it be 50?on't know, but we're very close, charles. >> truly a trickle-down effect as your sitting at the -- as you're sitting at the gas pump, realize the fact that we're having these issues is the trickle-down -- >> it's not going to be good for the market. >> and thend johnny come lately into the oil fields is now going to the bank, and the bank won't give him the loan. they would have given him six months ago. so what's he do? he calls up one of the early ones like marathon and says you want to buy my lease? because they're in there cheap, and they can last through this. charles: there's a deal with a canadian oil company, talisman, today. you're seeing some of the majors looking around, the guys who are flush, and trying to take advantage of this opportunity. but i've got the tell you, it's one of these things where it's just the uncertainty factor of it. and with everyone saying it can go and get a four handle, it feels now as a self-fulfilling policy because two months ago not one single

they care about their bottom line. and this is evidence of them.hen a person's in a car wreck and the insurance company is not reducing premiums, they're not saving you money off of how much you have to pay every month, they want you to use cheap, old, used parts, that's not fair to a consumer. gerri: rebecca, i'm going to give you a chance to get in here. he said insurance companies never have best interest at heart, is that true? >> as a consumer, i can always go to another insurance company. unless companies are conspiring with each other. i can pick a different insurance company if i'm not happy with mine right now. gerri: there are lots and lots of options, rebecca and eric, thanks for coming on the show. great to see both of you. >>> next, i'll be joined by the car coach, she's going to walk us through how the deadly takata air bags are supposed to work and how they're malfunctioning. >>> while many of you are dreaming of a white christmas, it helped to be prepared for the snow. we went to consumer reports to find the best snow blowers on the

"bottom line" continues in a moment. is the last "bottom line" for me in 2014.wanted to give a special thanks to my crew and our producer jimmy cowan. and our director michael vincent guerra. thanks so much. it has been a pleasure to do this on bloomberg television. as we head into 2015, we wish you good health, love, a very prosperous, prosperous 2015. and above all, peace to you all. thank you so very much for joining us. i will see you next year. >> it is 56 pass the hour. that mark crumpton is a treasure. it is time for "on the markets." forre seeing a rally today the s&p and the dow at least. the nasdaq is still trading lower. reaching 18,000 for the first time. we did get the gdp data this morning showing a growth rate of 5% in the third quarter. that was better than the initial reading. it looks like it will be a merry christmas for the retailers. the spider retail etf hitting anytime high today. as always, it is good to talk to you about retail. we are a couple of days away. things are looking pretty good. the readings we have gotten on spending so far h

you're talking about tradable bottoms. we know we have this fomc meeting on wednesday, the last one. they've floated the trial balloon about moving in a considerable time and some of the damage that might have been done if they had surprised with us that language on wednesday may be in the market right here. so no one has a vested interest in seeing this thing fall apart in the last few weeks of 2014. it's been a volatile year. that being said, the largest selloff that we have was october and it was 10%. prior to that there was about 5% so here we are down 4%, we have this event on wednesday, i think you probably -- if we continue to careen into that, if oil can find footing you'll probably rally out of it. >> really, into year end? >> yeah. listen, because no one has a vested interest in the thing falling azblart that's a huge call. you've got bulls sticking out. fantastic. >> you mentioned hedge funds blowing p. in terms of the ripple effects that we could be see, could we see hedge funds blowing up? and i assume commodi

one official says he believes it's at the bottom of the ocean.e you right. so hopes are fading here even though we had the vice president of ind feesia live hours ago. i asked him how optimistic he was. he says this is still very much in ra search and recovery mode at the moment but he did also say after 40 hours, it becomes increasingly difficult to see how people could survive, particularly if the plane went down in the sea. we reached 36 hours. it gives you an idea time now becoming absolutely critical. >> that search yielding nothing. there have been reports of objects being kroited by one of the australian reconnaissance planes that joined this search t. vice president said they weren't sure at this stage where those objects were linked to the missing flight 8501. >> that continues. it doesn't sound like a promising lead at this stage, mikaela. so again, we now look to the next day searching day two of the full search that is there are some 30 vessels of 15 aircraft searching for what is still a wide zone. and for the families of course here