i'm becky quick along with joe kernen and carl quintanilla. the economy is front and center today. the federal reserve starts a two-day policy meeting. the central bank is widely expected to leave its key target lending rate near zero. but market watchers will look for signals on the fed's other programs. at 7:30, we'll get the nifb aechgs small business survey. we'll get the findings live, complete with william did you thinkelberg's findings. 90 minutes later, we'll get the wholesale trade numbers. we'll see exactly how much employers were ringing out of their employees to try and make sure they made some of these profit numbers we saw when we got the earnings. >> the anchors in addition to earnings central, right, joe? >> i don't know how you want to call it -- >> work harder, cracking the

i'm joe kernen along with becky quick and carl quintanilla. one said carl quinn yesterday, did they? >> no. steve leisman did a report and there wasn't a single -- >> i didn't choose -- do you think i can play the deliverance? do i have a button here to play that music? do you think that's me? >> you openly begged the audio department to run that sound. thank you. >> i didn't. you just did. you brought it up. general motors. >> i wish i knew how to quit you. >> general motors is holding a highly anticipated event in warren, michigan today. how bitting that we played that music because that's where we find our own phil lebeau. >> is that some reference to me being from deliverance this morning? >> no, no. you weren't watching last week when leisman was up there. are you looking at the volt today, phil? it's fast, right? >> well, it's a prototype. this is a model of it. this is not an actual driving version of the volt. but that's why we're here this morning because general motors will be announcing the expected fuel efficiency for the volt when

i'm becky quick along with joe kernen and carl quintanilla. the fed is set to wrap up a two-day meeting this afternoon. it has a policy statement that's expected at 2:15 eastern time. the central bank is widely expected to keep rates on hold for now even though a growing course of directors is looking for the fed to upgrade its comments on the economy. different economists say we could be nearing tend of a recession. the fed is expected to announce a program to buy $300 trillion in treasuries will come to an end in september. >>> a new survey of the nation's economists find ben bernanke should be reappointed to a new term as federal reserve chairman. meantime, a majority of them surveyed say that the recession that began back in december of 2007 is now over. those who don't think it's over at this point say it will be this month or the next. on average, economists expect that the third quarter gdp will show a 2.4% decree in growth at a seasonally adjusted rate. key drivers include manufacturing partly helped by inventory adjustments and strong

i'm becky quick along with joe kernen and carl quintanilla. economic bellwether walmart is set to post quarterly results before the opening this morning. the retail giant is expected to earn 85 cents a share on nearly $130 billion revenue for the quarter. walmart has had strong performance and in his words would seize the moment to make even further strides with his business. but this is a more important number than usual. this is a huge bellwether for the entire retail industry, but we have not heard monthly sales reports from walmart. that leaves a few questions as to exactly what's happening. also on the docket we've got dr. pepper, snapple, auto desk and nordstrom. we'll hear about a lot of these consumer names today and try to get a feel for exactly what's happening with american shoppers. the thursdays every month where we hear from the retail stores have not been as exciting because you can't get a feel for what's happening without hearing from walmart. >> is there a name? walmart, the seek well. we favored it so well with the documenta

i'm joe kernen along with becky quick and carl quintanilla. on the jobs front today, 7:30, the challenger job report. 8:15, adp polled economists are looking for a drop of 350,000 private sector jobs. then at 10:00, ism nonmanufacturing and factory orders. finally, at 10:30, weekly oil inventories, which as we know have nothing to do with the price of crude. >> every once in a while, you get a bump or a drp. >> lately, anything that they say goes up. you can see the momentum, see the money. follow the money. here are the reports of the day from proctor & gamble, polo ralph lauren, cisco and prudential will report later this afternoon. >> let's get to the cme this morning. ira joins us to head up the day. >> thanks, carl. >> it's sort of a bit of a revisit to the last couple of weeks. in that, we're going to get a big dow component before the bell. expectations aren't that high for pg&e. but if the news is higher, there reason to restart the market after these past couple of days of mild trading? >> no, i don't think. we've had quite a run here

i'm carl quintanilla along with becky and joe.e of hours. futures here are negative. rough night in asia. china officially in a bear market down more than 20% since it hit that high on august 4th, futures will face some weakness in the open here. oil is down despite some bullish inventory data yesterday down $0.48 to 68.71. >> you talk about the highs on august 4th, we're not to the end of august and talking about a bear market. we think about major moves happening over a matter of months. going from a bull market high to a bear market in a couple of weeks, you've got to be in china for something like that. >> only in china you could argue. ten-year note having a back up. dollar a relative winner and yen as well as risk aversion back in the market against the euro and pound. stronger dollar, gold in the last hour or so was a little lower down four bucks to 935.60. not necessarily what the market is doing but in the newspapers, op-ed. >> the nation's investors say economy is on the path to recovery. warren buffett saying the govern

i'm becky quick along with joe kernen and carl quintanilla. and we hope you hear us now.key factors here include unemployment, gasoline prices, cooler weather than normal and consumers trading down that whole idea of trying to buy cheaper brands. all of this is happening while they're focusing on staple items, as well. also, you've got a later start to the back to school season and that likely means the parents are waiting for that tax free holiday to kick in this month as opposed to going ahead and buying all those items like they did in july. september is the month to watch because stores will be facing notably easy comparisons to watch. stores say they're not even stocking up on heavy inventories when it comes to christmas this year. a drop of 7% in line with expectations for costco. guys, we'll be getting these numbers through the day. the expectations are that the teen retailers are going to be seeing some of the biggest drops. the discounters have been some of the areas where we have seen consumers drop. they're expected to see drops of 6% to 6. 5%. you're talking a

i'm joe kern along with becky quick and carl quintanilla. the house has approved the occur for clunkers program and the senate has to act next. we have a live report from phil lebeau on the issue. >>> it all builds up to friday's big jobs report. today they're reporting on manufacturing. tomorrow, personal spending. wednesday is when the real build-up begins. we'll get the adp report, which gives us some hint at to what to expect on friday. on thursday, we get weekly jobless claims plus the interest rate decisions from the ecb and boe. on friday, forecasters are looking for data that could show the economy lost 300,000 jobs of last month. jason roeny is standing by. we're looking at the futures, indicating a gain of 100 points today. after all the gains from the last month. when continues to be the driving factor on the floor? >> it's a big week for european bank earnings. last night we started off with the big two. hsbc and barclays. both were better than expected. they were not able to withstand any futures stocks. that's building on the u

i'm carl quintanilla along with becky quick. joe will be back tomorrow.egins a two-day policy meeting tomorrow.. they're expected to leave their key lending rate at zero. market watchers will look for signals on the fed's other program, like the attempt to drive down interest rates on mortgages and other consumer debt, by buying u.s. treasuries. the so-called buyback program which expires not too long from now. >> september is when it will be rolled back. >> that will be a big one for the market to digest.t. >> we made it through most of the major companies reporting. the retailers report on a different calendar. this week is going to be a big week for them. on wednesday, we hear from macy's. thursday is an important day. we'll be hearing from walmart. walmart stopped giving out its monthly same-store sales. this will be the first time we hear from the world's largest retailer about what it's seeing right now. also, we'll hear from ur bban outfitters, nordstrom's and khol's. >> we'll look at the futures. we're looking at the asian markets, up on ten-month

i'm carl quintanilla along with amanda drury.guest host, rich bernstein, former merrill strategist, now cnbc contributor. and jim paulson, wells capital management chief strategist. a lot to talk about with these guys. a couple hours left to do it on a pretty interesting market day ahead. >>> first to mandy with some headlines. >> hi there. let's check in on some top stories. the fdic may need financial help itself. the agency will reveal today just how much is left in it's insurance fund which is running low because there have been so many bank collapses this year. now, if the fdic fund runs out of money it may have to borrow from the treasurepy. something that's only happened once. >>> elsewhere, microoff the is cutting the price of its high-end xbox 360. the new price at 300 bucks. sony recently cut $100 on the playstation 3 video game. >>> luxury home builder toll brothers is expecting a smaller than loss than previouslily expected. cancellation have also dropped. >>> accused fraudster allen stanford will make his first publi

becky quick and carl quintanilla. t's a very difficult name. >> it is a difficult name to spell, i know. >> did you ever -- >> think about changing it? >> yeah. >> i'm carl quinn. >> you have thought about it. >> that's good. >> no, no, i've never thought about that, to be honest. >> quinn martin productions. who is that in san francisco? >> never was even a passing thought. >> me thinks you protest that. you are carl quinn. >> trust me, i've not done it. >> i'm going to do it and you obviously like it. >> quick is my stage name. >> oh, is it really? >> no. >> what is your real name, mcgillicuty? >> no. >> in other news, besides carl's secret wish to be called carl quinn, the senate is expected to vote on a $2 billion cash for clunkers program. the name is not -- i feel silly saying it after a while. senate majority leader harry reid says he has the votes to pass the bill. senate leaders plan to introduce an amendment to it. if any of them pass, the house would need to pass the amended bill. the problem there is that t

i'm carl quintanilla. io is o joe is out today. he'll be back tomorrow.he markets under a fair amount of pressure. asian markets down sharply overnight. you can see futures here are well below fair value. china stocks suffering the worst fall since november. shanghai closed above 3,000 for the first time since june. the fettse and the cac trading down 3%. equities snapped their four-week winning streak. the s&p still up 48% from 12-month lows. retail sales not so hot and confidence down two months in a row. people beginning to thing not only is the market everextended but is the market going to be there like we were hoping it was going to be? don't expect people to start spending like crazy. >> every time the market starts to pull back, at least over the month or so, you'll see the buyers rush in. they've been thinking they missed that rally on the way up. we'll watch it very closely throughout the morning. oil prices also slipping overnight on worries about weak crude demand. remember, we are in hurricane season and watching the radar very closely. tropi

i'm carl quintanilla along with becky quick and joe kernen.are in session live in the nation's capital. in hearing room for senate natural resources committee. i don't know how you ever felt more vulnerable or more small in your life. >> i like it up there better than down here. wow. >> i was saying, please never ever call me -- >> we don't ever want to be subpoenaed. we gathered six senators this morning from both sides of the aisle to talk about america's health care crisis and some of the other hot button issues of the day buzzing around the hill. let's walk through the lineup. republican senator lamar alexander of tennessee, appropriations committee ranking member, republican, senator kent conrad of north dakota, budget committee chairman and finance committee senior member. senator kay bale hutchinson, senator bingaman, this is his room, senator judd gregg of new hampshire, republican budget committee ranking member and senator jack reed of rhode island, serves on appropriations and banking committees. senator bingaman, has anything like

i'm mandy joining carl quintanilla once again today. becky and joe are still off deserving some well deserved timeoff. this morning, we have dick aerm, freedom works cochair and former house majority leader and leaving his focus at the new york stock exchange this morning is art cashin from ubs today. >> good morning, guys. there couldn't be a better day to have these gentlemen with us. of course, with the top stories this morning about ben bernanke, at 9:00 a.m. eastern, the president will make a public statement reappointing ben bernanke to a second term. bernanke, we think, will, in fact, join him for the event. according to the text of his remarks, he'll say the man next to me, ben bernanke, has led the fed through one of the worst financial crisis that this world has ever faced. bernanke dealt with the crisis in his words with full action and outside the box thinking that has helped put the breaks on an economic free fall. the president will defend bernanke's actions as steps of necessity, not choice, taking together all of these s

carl quintanilla is here.da, a number of important -- was there a charles in charge song? >> yeah, there was. that was tony danza, right? >> scott beo. >> similar career paths. the important economic report today, as you would expect on a thursday, we have weekly jobless claims at 8:30 eastern. polled economists see claims expects to fall by 8,000 and continuing claims to fall by 141,000. stay tuned for leading economic indicators, also the philly fed survey, philly fed survey comin= out, right at 10:00. >> you can't wait. >> love -- >> i'm always like where is joe at 10:00? oh, he's waiting. >> i love philadelphia cream cheese, philadelphia cheese steak sandwiches. >> philadelphia freedom. >> i love philadelphia freedom. >> meantime, federal officials will be gathering in jackson hole, wyoming today for the kansas city fed's annual symposi symposium. steve leisman is on the scene and will be hoeld hosting a live one-hour special from jackson hole tonight. catch the fed, crisis in recovery at 8:00 p.m. eastern

i'm becky quick along with carl quintanilla.oe is off today, so mike holland is spending the day with us. federal reserve chairman ben bernanke is set to deliver remarks at the kansas city annual symposium at jackson hole, wyoming. standing by at the cme this morning is ben lichtenstein. ben, we've been talking this morning about what to expect from ben bernanke. probably a lot of people are not expecting big surprises, but will you be watching the words and his gestures very closely? >> most definitely. anytime bernanke is speak, we're definitely focused on the words. we're seeing the market digest a lot of information we've been receiving. and a little bit of housing data coming out today. the market right now is trying to touch on to these levels that we've seen, these upper extreme levels that we've seen, 1015 in the s&ps. we had a wide range in the overnight trading session here. so there's a lot happening right now and the market is poised for a move one way or the other at this point and it seems to be pointing towards th

i'm carl quintanilla along with mandy, who has been spending the week with us.en worth your time? have you had fun? >> i had fun. i want to get up at 4:00 a.m. tomorrow morning, as well, carl. >> well, you're going to do this next week, in part, right? >> and you won't be here. >> we'll see how the vacations work out. >> okay. >> and our guest host this morning we think will add even more, tony craszenzi. and jim iuorio. weren't you just giving us the data 24 hours ago? >> yes, i was. >> i know you're still miking up, trying to give us a mild heart attack. the dell number res going to set the tone, we can. the xeertmaker, a 28 cents, nickel better than expected. revenue did drop, 22 cents. did beetle st street. we'll talk to a dell analyst sometimes in the next half hour so we'll talk about what that means for tech and the market overall. taiwan rallied on the dell numbers. >> they did. let's take a look at the economic agenda for today. personal income and spending at 8:30 eastern time and then the university of michigan's consumer confidence number coming out

join me, carl quintanilla Ñ >>> take a look at european markets on the downside.t a great day but not terribly negative. i'm going to call it flat. why not. a lot like the dow, down 30 points.

don't know, but you were named one of the 50 most beautiful people in america the same year that carl quintanillaas. >> that was back in 2001, but -- >> well -- >> we're not even cute this year, that was back in '01. >> you're much more seasoned and handsome, thanks, paul. >>> today oil hit the highest level for this year, natural gas sank to a seven year low. if that's oil at a high, gas at a low, why the disconnect? what can we expect this summer from the energy sector? still with us, jim lacamp, don, explain to me what's going on with natural gas and with oil. because in theory, both are driven by demand. so why is one going up and the other going down? >> yeah, we look at them separately, though, michelle, they really are. crude oil rallying off a bullish inventory report, weaker dollar yet again. these are the two big drivers for crude, they have been, back up to $75 a barrel. meanwhile natural gas plummeting once again, up kind of a bullish report. the problem with gas is we have plenty of supplies still and we're not seeing a lot of usage yet. i think that could change this fall. >> why do

i'm carl quintanilla.ar oprah winfrey is one of the most well-known cultural and influential icons of our time. she has been named one of "time" magazine's 100 most influential people in the world. "the oprah winfrey show" is the highest rated talk show in television history with an estimated 44 million viewers a week in the united states. and those numbers translate into some big sales for the products oprah recommends. if you're lucky enough to create a product she loves, a mention on her show just might make you a millionaire. in this hour, we introduce you

i'm becky quick, along with joe kernen and carl quintanilla. july jobs report, it is now just about 90 minutes away. forecasters are predicting the economy lost another 275,000 jobs last month. the unemployment rate is seen rising to 9.7%. average hourly earnings are expected to tick higher by 0.1%. in advance of the jobs report president obama making a bullish call on the economy. >> i'm convinced that the actions we've taken in the first six months have helped stop our economic freefall. we're losing jobs at half the rate we were at the beginning of this year. our financial system is no longer on the verge of collapse. the market is up. housing prices are up for the first time in nearly three years. so we may just be seeing the very beginnings of the end of this recession. >> the president is scheduled to deliver remarks on the economy this afternoon shortly after 1:00 eastern time. the senate passing a $2 billion extension of the cash for clunkers program. the vote was 60-37. all the proposed amendments were rejected. that means the bill wil

i'm carl quintanilla. he's been called the liberal line of the senate. now the country is remembering senator ted kennedy. we're expecting a live statement from the president on the death of senator kennedy. about a half hour's time, mandy, we've been spending the morning talking about his legacy not just politically but what it's done for and some would argue against the business world. we'll talk more about his passing even as the markets continue to trade. we've got a lot of other issues on the table. >> we certainly do have a lot of issues. let's get you set up for the trading day. let's bring up the board for the future. they were looking slack, fell below fair value, a bit of a pause from the winning streak. oil prices did see a big drop after bearish crude data, saw prices jump in crude stock. we did a more than $2 drop below the ten-month high we hit in yesterday's session. at this stage sitting below $72 dropping further by 22 spents to 71.81. as for the dollar, check in on that stronger against the dollars, euro dollar $1.43. unchanged against

i'm becky quick along with joe kernen and carl quintanilla. we are live this morning in the hearing room for the senate's energy and signal resources committee. we are traveling down the northeast corridor this morning to the nation's capital. we'll looking for the real story on everything from health care reform and the debate. what's happening on the economy and cash for clunkers? we have a great lineup for you today. we'll be speaking with political strategist morris reed and new hampshire senator jean shaheen. then coming up at 8:00 eastern time, this is a rear opportunity to sit down with six senators at one time. we'll be having 6% or the senate right before us. on the list today, democrats including kent conrad, jeff bingaman and jack reed. we'll have judd gregg, lamar alexander, and kay bailey hutchinson. there's a lot hal happening here. as the senate has to tackle cash for clunkers, they've got a lot of things on their desk this morning. >> we are in the dierkson senate building. i don't think any live television program, other than

i'm becky quick, along with carl quintanilla. joe is out today. our top story is the markets.t this hour. a sell-off like we haven't seen in sometime. the futures down by 140 points below fair value. the nasdaq off by 25 points. the s&p futures down 16 points below fair value. talking about a major sell-off that kicked off in asia.. chinese stocks suffering their worst fall since september. sang high closing below 3,000 for the first time since june. you'll see that those markets, the cac in paris off by 2%. the ftse 100 off by 1.5% and the dax in germany off by 1.9%. some of that a carryover from friday. the s&p still up 48% from 12-year lows. >> triple-digit futures like that. shanghai, worst fall in 12 months.. hard to tell because of low volume or people having second thoughts about how far the markets have come. >> questions about the consumer too. we saw that with the retail sales numbers from the u.s. government and the consumer confidence number out on friday. a lot of talk about where this is going to go. very strong earnings reports from people and the companies repo

i'm becky quick along with joe and carl quintanilla.pproved a $2 billion extension of the clunkers program. the senate expected to act on the bill. the administration saying if the senate doesn't by tuesday, they're not going to honor the cars coming in. a report with phil lebeau coming up later on today. >> a number of auto sales. a number of key releases building on friday's big jobs numbers. that report on manufacturing tomorrow. pending home sales and wednesday, adp. challenger, factory orders and nonmanufacturing. thursday, we'll wind our way through jobless claims and decisions from the ecb and bank of england. friday, forecasters expect data to show the economy lost more than 300,000 jobs last month. who knows, with cash for clunkers and auto production that number could come down. >> you're nudging me. you are. we're going to be in washington tomorrow. >> we are. >> going to be in the senate hearings. >> in the capitol building with a bunch of senators. six of them? >> uh-huh. >> going down for health care. but it will be in the

i'm becky quick along with joe kernen and carl quintanilla. top story today has to be the jobs report. the july report is less than two hours away right now. about 2 1/2 hours away. forecasters predicting the economy lost another 275,000 jobs last month. the unemployment rate is seen to rising to 9.7% and average hourly earnings are expected to tick higher by 0.1%. this is a number that people have been watching because it's been continuing to climb towards 10% for unemployment. this time around, though, markets could be watching closely to see if that 275,000 number shows there is starting to show some pull back in the decline. >> we've gotten some clues this week. >> actually, the four-week moving average is down about 10% from last june, so people are pointing to that as an indication that maybe we're starting to see a -- >> well, now if you hit ten, you're hoping not 10.5, right? >> if you have someone like diane swank, the spooel she'll tell you that the shadow unemployment number is much higher. >> she's on today. >> she's on today and i

i'm becky quick along with joe kernen and carl quintanilla. we've been watching the futures. in morning after a bill sell-off. stocks are looking to bounce back after the s&p and dow both suffered their biggest one-day pullback since the beginning of july. the nasdaq seeing its sharpest drop since june 22nd. the risk aversion trade is back en vogue yesterday. the asian markets overnight, after a major sell-off again, these are the guys who led the way yesterday, right now you're going to see that they are in the green. you can check that out on the overseas. home depot is out with earnings right now. this is the dow component we've been waiting for. >> 54 cents and the estimate was for 59. revenue, i believe 19.1 versus 19.2. and we'll see what they say about guidance for the year, bup i do see, joe, that they see fiscal '09 sales down 9%, about 9%. >> yeah. u.s. comp store sales negative 6.9%. i wasn't here yesterday, but i guess lowe's was disappointing. and they missed their numbers. >> they trimmed their expansion plan. >> is this a home depot better report than lowe's ye

i'm becky quick along with carl quintanilla. joe is out today.he day with us in just a moment. our top story comes today from the mountains. fed chairman ben bernanke is set to deliver remarks in jackson hole, wyoming. he is scheduled to start speaking at 10:00 a.m. eastern time. following a year of emergency birminghams, bernanke is expected to talk about the challenge of pulling back without disrupting a recovery. so the markets will be keyed in over word this morning. our steve leisman is until the grand tetons with chairman ben bernanke and others. >> and you mentioned this reuters story that talks about sort of the color, what's going on and what it's like. being in jackson hole, there's not a lot to do, right? and while it's busy, reuters says the musical entertainment has been known to feature a beer emboldened television correspondent playing guitar. >> as soon as i read that, i started cracking up. i bet you that's steve. we're going to have him on and find out if he is, indeed, the beer and guitar wielding television correspondent. no d

i'm becky quick along with joe kernen and carl quintanilla. this morning, the u.s.this comes after a rough overnight session in asia. in fact, chinese stocks dropping by as much as 5% at one point. other major markets were higher amid fears about a correction to the rally that's been out there. shanghai stocks tuxbling to a three-month low. but the index has lost about 20% since august 4th. that matches most people's definition of a bear market. you'll see the ftse 100 is off by 38 points, cac 40 is off by 30 points and the xetra dax is off by about 63 points. >> so auto broad sell-off overnight. traders citing the sell-off in asia as a big catalyst. the data showed yet u.s. inventories unexpectedly fell last week. we'll get the u.s. inventories and see if that's bullish. crude, $68.87. >> as ford broader markets at this hour, we are expecting a little bit of weakness. what's the problem? >> people are trying to figure out, is this the beginning of a correction or not? >> griffith was showing a bit of volatility. they get narrower and then the vix breaks out and the

i'm becky quick along with joe kernen and carl quintanilla. u.s.pen this morning. you're talking right now those dow futures up by about 66 points above fair value. this continues a two-day winning streak for stocks right now. on the agenda today, we have a number of important economic reports. at 8:30 eastern time, we get the weekly jobless claims. polled economists see claims falling by ,000 to 550,000. continuing claims are expected to fall by 141,000. at 10:00 a.m. eastern, watch for economic surveys. >> meantime, fed officials will continue gathering in jackson hole today. fed chairman ben bernanke will be speaking tomorrow morning and we'll be looking for other officials to be speaking out. our steve leisman is on the scene and will be hosting a live one-hour event tonight at 8:00 p.m. eastern time. if there's a nature backdrop, if there's fishing going on and economic speak, you know leisman is there. >> kansas city fed in welcome. >> it's chopped up. >> they don't havehotels in kansas city? there's no football or great baseball? they've got

>> you know, i love what carl quintanilla said on "squawk box" yesterday.ou want to put the guy that guy that disarms the bomb. i think that says it all. >> thank you for joining us. appreciate it. >>> up next, "because you clicked." las vegas sands. the stock up more than 900% since my bottom. should you bet the farm now, or if you're all in, take your winnings off the table? >>> all righty. in this morning's street cap, mortgage applications rising 7. 5% last week. the mortgage bankers, even as the 30-year average mortgage rate increased to 5.24. u.s. investigators are looking into how 42 southwest airlines jets wound up with unauthorized parts installed. whoa. that's a confidence builder. "wall street journal" reports the boeing 737 contain hinge fittings that were not approved. but adds they do not pose an immediate safety issue. >> they're not twist ties or anything like that, duct tape. we don't know, though. >> toyota will cut production as it tries to match capacity to current sales levels. fourth largest carmaker is making 7% of car production. >>

. >> i'm carl quintanilla, the great divide, oil prices soaring, but natural gas diving. what is behind the split and what does it say about the economy and the markets? we will drill down on that, the spread to which oil is trading. we haven't seen anything like that in a long time. >> i'm michelle caruso-cabrera. is goldman sachs giving big tips to clients and rushing the rest? we will go inside what is called the trading huddle. here is what else is on the menu. >>> i'm phil lebeau are you clunked out? if you are are you are not alone a lot of dealerships around the country are clunkered out, they are stopping clunker sales well before the 8:00 deadline tonight. what are the implication for dealer stocks? talking about that in a little bit. >>> i'm hampton pearson in washington. 81 bank failures and counting, fdic strategy for stemming that tide be a greater role for private equity firms in details coming up. >>> i'm darren rovell, peyton manning's brother eli makes more in salary but peyton pulls in more in endorsements. next hour, we will ask the colts quarterback wh

carl quintanilla is off today.st, still miss, miss ivanka trump. >> i think it's breaking news. in case nothing else important happens today, i am getting married in october. >> you're getting married in october. >>> less than 30 minutes from the cpi. future at this hour are -- have improved a little bit. now they de-improved. that's okay. down about six, as you can see on the dow. that would be up about 14 points from where fair value is. so could be a positive opening at least at 9:30. >>> let's check on the morning's top headlines. treasury secretary tim geithner sees some guide signs for the economy and financial markets. he gave an interview to "the wall street journal" where he promises the obama administration will not allow wall street to go back to hold habits like taking on excessive risks. all of those plans, he says, they are on track. >>> "the washington post" reports that the obama administration wants to make banks with more than $10 billion in assets pay higher regular fees while smaller banks might

i'm carl quintanilla along with joe kernen and becky quick.stone advisory services. a lot to talk with byron about. it's good have you back. >> good to be here. >> we'll get a check on the market. if you're waking up and wondering if yesterday is as bloody as yesterday was, not as bad. futures are up. asia had a reasonably good day overnight. german consumer confidence bouncing a little bit. so, the pain yesterday? >> going to be undone to a degree this morning. >> typical of the pullbacks we've seen recently. one day. remember, about two weeks ago we had one. we were like, you houh-ho and t went right back. one day it will be the beginning of a ten or 15 percenter. you -- is that metal? >> yeah. >> sit down. go ahead. >> 15% down. what do you think, byron? >> 10% to 15%? maybe you're not in that camp. hopefully you're not. everybody is. you're not in that camp? >> byron, everybody's saying the same thing, fundamentals don't justify the current valuation. every person comes on and says that. it's just too pat, isn't it? >> why do you think fun