star dermer, nancy richard , billy cashin. thinkd me last night "i we are going to be all right, manchester." the wholethank teaching family -- keating family. they are laced throughout the cloud. .ony karam we got more votes in claremont than the rest -- next three people put together. [applause] i want to thank my dear friends from arkansas, who have been up here for so long. thank the first, john and jan pascal. [applause] >> i want to say a word of profound thanks to mitchell the whole headquarters and all the young people who worked hard. [applause] >> i want to thank my wonderful friend and senator david prior. i first met david and barbara 26 years ago and i don't know who is more surprised about this night. all of you from all across new hampshire and across this country to fight for the future of this country. this has been a tough campaign but at least i have proved i can take a punch. [applause] >> i will tell you something else. when you look at the results of this evening, however it comes out in the later hours,

two numbers, 1812, what everybody is watching on the s&p and art cashin told kelly and me if the dowloses below 15,666 that could mean a dow theory sell signal. all of the numbers are being put in perspective here today. are you watching those as well? >> absolutely, i'm not going to buck art on his numbers and his levels there. clearly that 1812 level we have been watching, i like the music you had on the intro to come into this but that is a significant level there. we did -- we have tested it many times, we did break below it and it's amazing to me as soon as we get below there, we get this oil headline that comes out. market is now selling back off as we're starting to realize there is not enough weight to the oil headline that's there. if we come back down and start testing the 1812 level, there's not much below there. we have to take a step back and see where is there any support? we'll get down to the 1760s and hopefully we get there quick. it needs to get flushed out. >> are you buying into this market as it continues to sell off? >> we know our managers are clearly buying in

art cashin is with us from ubs.ood morning to you. >> good morning. >> a lot of talk about the january barometer, as goes january so goes the rest of the year, which has a strikingly high percentage rate. >> yeah, it does. it's up in it the high 70s. the point is that we're behind the 8 ball. we will start out -- oil back at center stage. you came off the lows when wti began to circle the wagons at 32. drahi is speaking at 11:00. not expected to say anything big. but you can always get a surprise out of him. far more importantly, stanley fischer at 1:00. we'll see if he talks about multiple rate hikes this year, or whether he backs off it. that could be important. then the possibility surprise tomorrow out of iowa. not to disagree with larry kudlow, iowa's history is not in making a candidate, it's in breaking a candidate. you have people who were leaders in the national polls, howard dean, rudy giuliani, newt gingrich, even hillary against obama, and they all did not do well in iowa, and with the exception of hilla

what about the cashin the envelope? legit. he was chapter treasurer. he likes to bet at the track,but it was all of his own money. yeah, but this does. i checked the register at the convenience store. it's an hour fast. it could be an accident, or it was monkeyed with to run a lottery scam. it still puts him at the storean hour before the murder. we can still tell a story. the guy workeda few doors down. he knew the code to the locks. a 30-year-old who likes to gamble. whose financial situationis bad enough it forces him to move home. uh, i appreciate that we're trying to find a fall guy, but putting this on an innocent man? isn't that how our client got into this mess? we're defending our client. bailiff: all rise! the honorable francis flamm presiding. well, good morning, everyone. it's good to see you all here again. oh, and i see we've grown by one at the defense table. yes, we have, your honor. i've been so movedby the plight of mr. dolan that i have decided to lend my assistance. well, it's great to have youin my court, ms. lockhart. and i unders

. >> i heard art cashin earlier saying the market will start focusing on who is leading, more and more focus on what's happening on the campaign trail. jim grant sis the fed is apparently unshamable, quote, and we'll discuss that. >> love jim grant. >>> let's start with janet yellen's comments on capitol hill this morning. you saw it live here on cnbc. steve liesman was monitoring it word by word. what were the key takeaways for you? >> from the apparently unshamable fed chair to threaded the needle, i would say, between the hawks and the dove who wanted never to hike again. that's pretty much ever. so yellen maintained a positive view of the labor market. inflation would reference ilmove toward the goal. most important she stuff to current policy that the next likely move is a hike, not a cut. the -- will inflation will take long other. the outlooked. hawks have to think that after this testimony that march is unlikely at this point threaded the needle there, too. >>> i am not aware of any -- anything that would prevent us from doing it, but i'm saying that we have not fully investiga

art cashin, director of floor operations with ubs joins us here at post nine.to see you this morning. >> good morning. >> we were talking about the action on friday. you said the bears got beaten badly. how bad? >> well, pretty badly. the problem was, as good as the action looked on friday, the new highs were at multi-month lows. it may not have been as broad as some of us perceived originally. >> now, we got this report of this agreement to freeze production to january levels. how important is that? >> well, if it were effective it would be very important. i have my doubts about it. but we'll see. the market will benefit from oil being up. that correlation continues to work. i think half of the gains we're seeing today are catch up from the holiday. the other half are about oil. so, keep your eye on crude if wti goes negative, i think you'll see some of the bids disappear. >> what about the chinese currency, we saw a big turnaround in that currency. >> that was a major surprise to many people including some of us who thought that they might be looking to deval

. >> art cashin still telling it's it's $900 million to sell. is down 80 points right now. >> up next, march madness is coming but we're not talking hoops, we're talking markets from peter anderson. he's going to give us his forecast for march after this. v, i invest with e*trade, where investors can investigate and invest in vests... or not in vests. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade. >>> the dow is down 98 points as we head towards the close. peter anderson from congress wealth management. after a rocky start to the market last year then spring time came and it was off to the races again. you're expecting more volatility as we head to march, aren't you? >> i am, i talked to clients day in and day out and they also feel very unsettled about this market right now. and there doesn't seem to be any real catalyst to make us think that that's going to go away any time soon. that isn't to say you have to

of their betting on the horse that's not likely to win but it if it wins well you know you really cashin. it's kind of a gambling situtuation there. i think we need less money in litics it's gogoing to be tough to do it with the supreme court ruling but it alalso showshat you can't buy elections. tonight just as much a story for not doing well we got chris christie the establishment candidates that are performing so poorly in tonight's caucuses which echoes the ntiment that we've been talking about the full election c cycle of this antiestablishment feeling that people have. and it also shows with marco rubio that a lot of establishment republicans seem to be focusing on him as the best horse to bet on to become the establishment candidate and maybe take on you know the renegades of the top. that's interesting too. you thinink that'swhy ted cruz is all of a sudden puttinup his negative ads against marco rubio? when really he wasn't doing so well in the polls? i think so. they do a lot of internal polling private polling we don't know about and they may have had some numbebers there that

let's get more on the selloff, director of floor operations, art cashin onset.oil down, you have europe fallingot of bed. but shanghai closed. where is the relative stability? >> that's part of the problem. this whole european thing, about 4:00 this morning. people started speculating on the problems with the banks. and the german dax fell out of bed, and you're futures which had been better, fell out of bed with them. and we can't get out of our own way. simon talked about the bail-in aspect of the banks, and that can be a little bit of a smoldering fuse here, because if you've got your money in a european bank, and if they have trouble, and you're going to have to lose part of what you have there, as part of the bail-in, your response is going to be to take the money out. so they -- the ecb could accidentally be dancing with a little bit of a run on some banks here. >> is the fear around the banks founded at this point? is it because they have too much exposure to energy, to emerging markets, or that they just haven't had the equivalent of ta t.a.r.p. to get t

art cashin joins us here at post niep. is this broader stock move about energy?way it is. we're at a really critical juncture here as you pointed out. it's important that it stay up in that level. that's also taking the s&p up to what looks like some critical early resistance at 1920, 1925. >> is it a good thing that we're seeing consumer discretionary, industrials, financials take the lead, the really cyclical stocks tied to the economy? >> it's good. yesterday's rally was rather brought and that's helpful, but they did manage to rally the things that have been battered the most. so that tells you some of it is short covering, but we'll take any kind of buying we can get. >> in the meantime the safe havens no longer in demand. are you a believer or is it a bans from oversold conditions? >> we've taken it forward. i won't declare in until we talk about 1950. >> but if you've put a floor on oil because materially that has changed. there has been a meeting between the saudis and the russians. but clearly there is a discussion and potentially a framework moving forw

then come out and take over -- >> all right, thank you very much, art cashin, thanks very much. we have the closing bell and we have lucky rice ringing the bell. summit financial ringing it at the nasdaq [ bell ringing ] >> welcome to the closing bell. here's how we're finishing up the 1st day of feb. only the nasdaq managed to pull it off on the bell, up six points and s&p closing down by 1. we'll make sure that doesn't change as things settle out and dow looks like lower by 19 points. the tone here, we're looking from a difference from the sharply negative tone we saw in january and we are waiting on key earnings just moments away. joining today's path, mike santoli and winter storm kayla as we're calling her this week. and for more on reaction, we have lee droeg an here and fast money trader tim seymore. mike, does it matter so much that we were negative or positive? >> i think the fact that you kind of came back and as we were just saying bond equivalent stocks doing really well. people seemingly wanted to get involved in the stock market after friday's big 2% move up, clear

this morning we were talking about in ideas art cashin and others saying that this shorter term average price for market has been this area of stalling out, this momentum killer but it seems like we've blown through that. the question becomes whether or not that positive momentum carries. the flip side is a lot of traders still tell me the volumes haven't been all that robust. >> weeks that's been the case, yeah. >> in fairness to the bulls we've been talking about low volume for the past few days and the market keeps on melting high higher. >> just before 1:00, they started to go vertical, pretty much from a flat level. it's hard to say which led which. >> what's interesting about the way this marngt is setting up, we're heading into the last trading day of the week tomorrow, it has been strernth in utilities, if we want to see leadership, don't want to see it straight from the defensive sectors, we know interest rates are low and know they've been that way for a few weeks now. arguably, for the past few months. but whether or not that continues, financials will still be a key. the sec

. >> art cashin said after a day like today, what would you think would be the closing here?actually know. it's paired off. it's neither buy nor sell but we're down 52 points as we head towards the close. one year ago the average price of gasoline nationally, $2.26, today the cost is 25 cents below that and it may decline even more. our next guest says this could still be a big boom to the u.s. economy and the consumer and he'll talk to us when we come back. i'm in vests and as a vested investor in vests, i invest with e*trade, where investors can investigate and invest in vests... or not in vests. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade. >>> joining us, our friend, ceo, asset management. clearly we've established the drop in the price of oil is not good for many industries and the stock market wavers with the price of oil. you still pound the table this is good for the economy overall and consumer. >> we forget the united states is a

stock favorites like those tech names that have gotten hit hard and bob joins us here along with art cashin're not necessarily seeing a lot of rotation from those into other areas. >> this is the day they took down all of the high pe names. we had guys gathering around tableau and earlier linkedin, standing around, not even with orders, like tourists saying is that right, 40% down the open? people were mouths were open at this point. these are high names even with linkedin. the main problem today and ongoing problem, is there is still too much supply in the market, too much willingness to sell into any rallies and not enough demand, not enough people willing to buy any kind of dip. remember the rally last week, 400 points? it's gone. two days and it falls down again, no interest in coming back in. >> it's a market without a memory. >> we did dodge one bullet today however, there's some important support in the s&p at 1868, 1871. we manage to stay above that. if you break that, there's a good chance you're going to go back and retest the lows. >> 1812 is the january low. >> intraday low. we

. >> art cashin saying 200 million to buy on the bell could be helping us, the long time investment pro will join us when we come right back. at ally bank, no branches equals great rates. it's a fact. kind of like vacations equal getting carried away. more proactive selling. what do you think michal? i agree. let's get out there. let's meet these people. go to ziprecruiter.com and post your job to over one hundred of the web's leading job boards with a single click. then simply select the best candidates from one easy to review list. and now you can use zip recruiter for free. go to ziprecruiter.com. [martha and mildred are good to. go. here's your invoice, ladies. a few stops later, and it looks like big ollie is on the mend. it might not seem that glamorous having an old pickup truck for an office... or filling your days looking down the south end of a heifer, but...i wouldn't have it any other way. look at that, i had my best month ever. and earned a shiny new office upgrade. i run on quickbooks. that's how i own it. >>> the questions in the market, join us to answer them, david dars

and art cashin just stopped by. no sell or buy bias, they paired off.s that an indication what the market is thinking about? >> that's an indication -- >> sit on are their hands right now. strategic research partners says there are clear signs the economy has slowed down ahead. he'll be explain next. e*trade is all about seizing opportunity. so i'm going to take this opportunity to go off script. so if i wanna go to jersey and check out shotsy tuccerelli's portfolio, what's it to you? or i'm a scottish mason whose assets are made of stone like me heart. papa! you're no son of mine! or perhaps it's time to seize the day. don't just see opportunity, seize it! (applause) seize it! do you know what i over at dell.com shipping is free. go ahead ask me where. anywhere in the u.s. they can ship here. they love shipping to these. they can even ship here. that's steve. he's a good boy. dell.com loves shipping everything for free. they'll ship here, they'll ship there, they'll ship over there. they'll ship all over that whole area. there's free shipping at dell.c

ten minutes to go here and art cashin walked by saying there's $600 million to buy on the bell but we haven't seen a ton of movement. it's a plateau just sitting there up 1.3%. >> with all of the indexes up and in the green on the heels of the solid week last week, are blue skies ahead? two of wall street's best join us with their views after this. it took dozens of prototypes. hundreds of crash simulations. thousands of hours of painstaking craftsmanship. and an infinite reserve of patience... ...to create a vehicle that looks, drives and thinks like nothing else on the road. the all-new glc. the suv the world has been waiting for. starting at $38,950. e*trade is all about seizing opportunity. and i'd like to... cut. so i'm gonna take this opportunity to direct. thank you, we'll call you. evening, film noir, smoke, atmosphere... bob... you're a young farmhand and e*trade is your cow. milk it. e*trade is all about seizing opportunity. >>> seven minutes left with the dow more than 200 points and holding up. joining us right now, chris from riverfront investor and anthony chan at post n

. >> i'm distracted because arthur cashin was just telling me right now -- >> few other people on thealance is $300 million to buy. i'm holding to that -- >> that's my story and i'm sticking to it. >> to ring the closing bell of the new york stock exchange. i see what you're talking about there. >> just over there at post six. that event to happen in 12 minutes' time. >> what is this magazine of which you speak sp. >> sports illustrated, swimsuit 2016 and we've been told in every -- >> it has been advertised, hasn't it? >> a little bit of excitement there. some excitement in the markets too where the dow is up 200 points on the session. we had relief in overnight sessions in asia and europe. s&p up 26 points and nasdaq up 88. >>> the argument over whether or not the u.s. is facing recession does continue but bob kaiser says as long as we avoid the r word, there are a few sectors that he finds attractive in the equity market and he'll talk about it after we come back. i'm in vests and as a vested investor in vests, i invest with e*trade, where investors can investigate and invest in ve