some improvement for the likes of disney and caterpillar, helping the index.he nasdaq still down 0.8%. the vix was still up at 37, back down to 36. still a little jittery this in this markets -- a little jitteryness in markets. the european close is next. this is bloomberg. ♪ vonnie: stocks finishing up the day in european trading. it has not been pretty. if you are in europe you saw losses. we were off the lows of the session when we did come to the european close. much a 3.8%down as one point. the cac 40 down 1.9%. the ftse 100 down 2.9%. a mix of earnings data and the pallor of the economy. we stood up one day to go. the british economy -- it was better than anticipated, but still not a good picture for reopening, which is what economies are trying to do. given the transport commissioner yesterday talking about guidelines -- even the transport commissioner yesterday talking about guidelines for salvaging the tort season. -- thets of companies tourist season. all sorts of companies writing off quarter after quarter. the euro stoxx 600 down two points and and

and then there are caterpillar is that it's. beliefs and then us can impede the growth of the tree when pesher arrive on the scene trees defend themselves by pumping toxins into their leaves. amazingly neighboring trees do the same even if they're not under attack forestry expert peter bolaven explains the trees talk to each other and you can understand them by listening in on a born horse there and. does that mean that trees are some kind of language and what exactly do they talk about. it turns out that oaks emit odor signals in response to pest into stations and those molecules trigger a protective reaction in adjacent trees although it's not clear how this works so but what if the neighbors are on the wrong side wind wise are they then not party to the conversation. that's where the would wide web comes in trees send signals to the fungus nestling around the roots which relay them via the underground network. this rapidly puts the other trees on alert so that they can prepare their own defenses. but does that count as a lang

>> i would do raytheon but my problem with caterpillar is you never buy caterpillar going into a recession so you certainly wouldn't buy it going into the depression. how about jayman in texas? >> hey, jim. i have a quick question on right now a lot of companies are work from home. and that's a new norm. what do you think about cybersecurity company and also what do you think about fire eye? >> i like the cybersecurity company. i think you got to go with fourth net we got palo alto next week i expect a good quarter but stocks up a quick 40 let's go to robert in tennessee. robert. >> i'm here. jim, hello. >> robert, what's happening? >> not much. was wondering what's your opinion on jacobs engineering >> i know it much better than all the other enc companies. doesn't matter i don't buy engineering/construction when we are going into a definitive slowdown let's go to marcus in florida. marcus. >> how you doing, jim? love your show watch every day. >> thank you >> my question was about ino. >> i've known ino from plymouth meeting which is right down the bayou. here is my problem with ino. the

are not feeding the world which is a big lie the sun coming behind his back to me you becoming caterpillar to them to heal. bread has become basically in spoons of sugar and it doesn't taste like bread anymore. i last week you hallux it up on my shoulder you can look a little jay in our south not going to come home to your. food. but also all i know could help bills out that i never have the both are fairly. low sugar. lows are left to me oh yes this is going to be a good lad to read i'm going to have veto boy i'm called there to hold. it no it's for the for not going to be on which you can i come in from annapolis and think i'm going in with my kid with a not a lady in this thread fi movies that are in the media here and booted but i do you have a then that's in the city being a modern method and all but then on is that i feel have been haiti and have be sauda in am accepted without it but i.d.'s were figured out and know if nothing was not annoying i need to know ugh why bother to look my body shannon balladeer enough to know it if i love him and by the army. and listening thought it in

is that actually true researchers suspect that when a caterpillar nibbles on a leaf that is registered by pressure we set is with. literally then pumps a substance into the leaf that renders it an appetizing and quickly spreads it around to protect the other leaves from the predators well within the tree the relevant information is transmitted electrically as in a human body feast but feeling pain is not just a question of registering and reacting it's an experience it has to have in humans and other animals that involves the brain and scientists have yet to discover the equivalent in trees. trees do indeed respond to injuries even if they do not feel pain now back to remain here. the environment itself though. between the 3 the. mostly 3 and 400 the involved and the moving. the project started about 10 years ago. in europe's few remaining primary forests scientists selected research plots to focus on these are circular areas roughly the size of a basketball page they now have over a 1000 plots in 9 countries they've taken just under 40000 would samples the groups archive is the larges

these women are feeding caterpillars leaves from the forest soon they will enter the people stage the kenya wildlife service ensures the butterflies are raised sustainably only 74 species have been approved for farming and some may only be read at certain times of the year. we go into the forest in groups to collect the butterflies. and when we return home each of us really has pupae on their own. working on plan how much we earn depends on the type of butterfly and the amount of work involved. but we can earn between $20.00 and $50.00 a week. the project supports 1500 people in the community the work takes skill but doesn't require the ability to read or write or if the coordination is managed by the keeper peo butterfly project if it was here the people higher being sorted before they're sold the butterflies and moths won't emerge from their chrysalis isn't cocoons until they've reached their destination. after we get the pupae from the farmers we pack them in special containers boxes that are extremely lightweight. then we send them to customers in the united kingdom and turkey. pi

population i'll leave it with this just to get your reaction to this according to the washington post caterpillar stanley black and decker pretty household names levi strauss the jeans maker office furniture company steelcase and yes the world wrestling entertainment have paid out a combined $700000000.00 in cash dividends to shareholders while at the same time shattering operations and laying off employees during this covert 19 pandemic that says a lot that they're paying off shareholders we've been laying people will. follow the money. people are eager to go back to normal whatever that is 19 drastically changed the way we do business and manage our daily lives everything from church and shopping to school and the way we work has been up ended and not everyone is happy for weeks now parents have been pseudo homeschooling their kids as primary secondary and collegiate schools are shut down though they are doing their level best the stress of being a working parent and a 1000000000 teacher is taking its course remote learning was supposed to be the answer but it's wrought with problems like steve

he's like, so it will be rock quarries, caterpillar sanctuaries and then maybe in a couple years gymss i don't mind not seeing old guys drying your crotch with a blow-dryer hey, want to watch the rams game later? my, god. what's happening all right. spin it again. >> jimmy: your topic now is murder hornets. murder hornets exist >> murder hornets, man. let me tell you something. regular hornets are no day at the beach but all hornets suck no one is ever like, i wish we had the good hornets here hornets are the worst. yeah i don't even like to be around the charlotte hornets. >> jimmy: let's do our final topic. are you ready? your topic is mike tyson comeback did you see this >> this is real. mike tyson he's on the heavy bag. >> jimmy: we both did that that's how we fight. imagine if we fought each other >> it would be like rock em sock em. >> jimmy: oh, god. >> he is a little older. it will air on pay-per-view on tv land i want him to fight. i want tyson to fight fauci. let's give him an eas one right at the beginning. >> jimmy: do you know who he's fighting? >> yeah, dr. fauci i would

for example, the dow has seen moves by caterpillar, not the worst in the world.pretty bleak. boeing also leveraged, and that's dragging the dow as well. in the s&p 500, even though the quarter wasn't great, a strong rebound in china, that pushed an individual stock higher. it's the best performer in the s&p 500 right now. las vegas sands had such a difficult ride over the last few months, today down 3.4%. under armour is not having the best season at all as most apparel manufacturers aren't. guy: tough place to be. let's talk about another particular stock in the united states, ali baba falling more than 4% today in u.s. trading. its worst day in more than two months. investors are concerned about the company's revenue growth, understandably, as well as the potential for the u.s.-china tension to disrupt the business. joining us now to discuss all of this, let's start to talk about the numbers. we don't get a lot of what many people call accra data in terms of the chinese economy, but alibaba is probably a neutral indicator as to what is happening. what can we de

value stocks that will work but only if they become growth stocks i don't mean to sound like the caterpillar from alice in wonderland but if there are companies that find a secular source of growth and the health crisis we're going through will facilitate that, that's one category of way that some value stocks will work i feel like those moments are very fleeting. we get these two and sometimes three day stretches where growth takes a break or sells off and there's a big resurgence in regional bank stocks or small cap pharmaceutical or companies that make helicopter parts it's a very tough trade. a lot of money is on that side of the boat. it's a long time coming if it ever does. in the meantime, lot offense value is being created in growth names that are perfectly poised for a scenario where consumers are a captive audience not much else to do other than work out from home, watch video, order things to eat, et cetera i don't know what put a stop to it >> before we get into some individual names that all of you are looking at, volatility let o let's pull up the vix. how would you play volati

stories like that or the own suring of production that will favor a company like scatt caterpillar. >> to your point, there is money continuing to go into technology they say monday of this week saw the fifth largest single day in flow to tech since 2011. megan, the bets continue to be made along technology. do you think it's there to stay or is there going to be a longer, lasting rotation into a beaten down, if not cyclical areas of the stock market? >> it's a great question this is typically the time you would expect that rotation to occur meaning you're at the v of the recession you're at the worst of the economic da ta in the bottoming process you see the lower quality name, value type of stocks tend to out perform. i don't think it's an either or. it's important to have the high growth companies that are generating their organic growth and long term is likely to be a low term environment as well as those cheaper, names the leadership is still narrow we're likely to see if this is durab durable. some of those name will pick up the ball and run with it the chasing is dangerous that

caterpillar is down 28%.'s just one example. 3m is down about 20% they're having a lot of trouble getting traction boeing is the big problem because that's a high priced stock in the dow and that's down 60% this year. 6-0% this year and going nowhere in the recent rally. as far as the outperformers, yes, the health care is doing better united health has been trying to break out. it was almost near a new high. 304 was the new high but it stalled out as well. that's a big problem same with proctor. apple's has a fantastic run it was 290. that's a great run so it's about time it paused a little bit but thatere's your big outperformer. i think we're reaching the limits as to how far we can push it without even better news. guys, back to you. >> thank you we've got breaking news now on uber and grubhub david faber joining us now with the details. david. >> well, sara, we've been keeping a close eye on shares of grubhub ever since bloomberg broke the news they had been approached by uber and there were talks design

air, united air, delta and american a downgrade over at barclays all the big industrial names, caterpillar, boeing, all to the downside the leadership group all the work from home stocks benefiting in the last couple of months so walgreens, walmart, home depot, apple and microsoft. back to you. >> thank you >>> gearing up for earnings season with 150 companies in the s&p giving the quarterly numbers. analysts expecting first quarter properties down 14% this year from last year let's talk more about this, about some themes that bob mentioned, joined by hugh johnson and paul christopher hugh, there's a bunch of different places we could go but i want to start on your kind of theme or idea here which is that we need three conditions before we have the all clear for the stock market and how many of the three have been met so far >> not much of them. you get -- moving in the right direction. first thing you have got to have is good performance, bull market-type performance from the equity markets and we're not seeing that yet. yes, the s&p is going up but when you take a look at sector performa

caterpillar had a great and ge, the retailers, heavens, kohl's had a good week. that's what i mean of broadening out of the rally where are they getting the money? tech names, mega caps not doing well this week overall netflix, facebook, amazon, apple to the downside. a wag this morning called it zoom fatigue the stocks of zoom and docusign as market leaders are finally moving to the downside it's terrific news for the overall market. >> bob, we were talking about the floor reopening yesterday. do you know when they'll let cnbc and other media people back in the building? or -- i mean, is there any talk about that >> oh sure oh sure. they don't say it but there's a timetable. they'll see what happens they'll see if trading goes fine make sure there's no reinfection and obviously an issue for that and probably two or three weeks to be discussions with the designated market makers and that have the post we know all about will be pressure on them to say, okay, are you interested in coming back there's legal issues involved. there's medical issues their own people ha

bigger when it comes to, let's say, trade-related, trade-sensitive stocks, everything from deere to caterpillar was that the fear was that we would start to see yet another trade war or that the phase one of this trade war was said and done, over. we didn't hear that at the moment. as i mentioned, now look at the dow jones industrials. it has now punched into positive territory, up 11 points, after having been down more than 300. i will say because we were all watching it that when the president began speaking,, the dow was down 145. it went as low as a loss of 280, but certainly it's important to note we don't see any red at the moment in the major indices. you're looking at i shares and etfs of chinese-focused names, up one and a third percent, china internet stocks up three percent. blake burman was there in the rose garden as the president unfolded, i guess, a list of things that really didn't sort of meet the rhetoric that had really been ramped up, but the markets as you see are recovering on the notion that we're not seeing what could have been the start of yet another cold war. the pres

cyclical, industrial stocks, energy stocks, bank stocks chevron, caterpillar, raytheon, boeing and jpmorgan. banks having a tough time of it. wells fargo. this is a nine-year low for wells fargo. goldman talked of increasing loan loss reserves and saying that loan loss reserves likely to increase. back to you. >> under 25 bucks and 9-year low. striking thank you. >>> terrible april jobs report sparked a debate between stock market bulls and economists about whether layoffs have peaked steve liesman is here now to explain. steve? >> kelly, thanks an interesting debate has broken out. everybody agrees that the number of 20.5 million americans losing the jobs is absolutely horrific but a question of what it means for the future the optimists point to the 18 million on temporary layoffs saying these folks tend to come back very quickly, at least the way of prior recessions. jpmorgan writing over the weekend almost all then crease in unemployment is ranks of temporary layoff the bls classified anyone who said that they did not work because of the coronavirus and unclear they will have jobs to re

has his fingers in so many pie, suboptimal caterpillar rolling orders retail sales plummeted 22% in the last two months, 27% drop in north america. ouch in a serious downturn i'm worried about the balance sheets and dividends in the group you know what would save the troubled stocks? bingo, a vaccine yet the possibility much a vaccine seems more remote by the day. officials keep talking about 12 to 18 months they were talking about 12 to 18 months in march. so doesn't that mean 12 to 18 months -- if it was 12 to 18 months in march, shouldn't it be 10 to 16 months? no, they're still talking 12 to 18 months. what is worth owning here in the small universe of what's left? you want stocks that can thrive in a world that looks a lot like today because that's the world we live in that's why i created the cramer covid index a trillion dollars i left out target. put target in, i'll take something else out they've been roaring they all got slammed today they got hit with the froth. some people thought they were frothy that's okay. they will get unfrothy when it gets unfrothy, good ones get back

raf flight engineer during the war and was shot down twice but survived, earning his place in the caterpillaryou so much. proudly displaying your medals today. you joined the raf as soon as you could, you were just 18, weren't you? yes. and i think you always really wanted to fly, you said from a really young age. yes, always! why did you have that desire? well, i suppose it was the time i was born. i was born in 1923. the great war was still in everybody‘s mind. i was always taken by the fighter pilots of the first world war. ball and mcmanus and those locked. they were your heroes? yes, of course. by december of 1943, about a year after you signed up to join the raf, you were assigned to a squadron, so tell us about that group of men you flew with.” squadron, so tell us about that group of men you flew with. i flew with six other chaps for most of the war. we were crude up in 1943. we just started flying together. —— we we re just started flying together. —— we were crewed up. until september 44, were crewed up. until september 44, we we re were crewed up. until september 44, we were like a

see that if you take a look at the laggards on the dow jones industrial average today, chevron, caterpillar, boeing. investors weighing opposing forces connell hopes for a coronavirus vaccine and states reopening, against china's move to impose new national security laws on hong kong that would cramp its autonomy that is adding to already high end u.s. china tensions as you can see here steep losses for chinese stocks that list here in the u.s. , andluckin coffee down 30% and oil fell for the first time in seven days closing at 3,347 but for the week it is up almost 13% as all 50 states have started to reopen their economies. look at this major averages for the week up at least 3% the nasdac up almost 4%, and the russel 2,000 a measure of the small cap stocks, to show you how this rally has truly broadened, the russel 2,000 is up almost 8% on the week, connell back to you. connell: lauren thank you. now, as you mentioned all 50 states have started to ease up to some degree on these pandemic restrictions that had been in place, and president trump is actually now calling on churches to reope

ca caterpillar, lockheed has had a great week and remember those retailer -- all of those formally washed up big box retailers, the macy's nordstrom's, gap, kohl's, they've all had big weeks. that's the xrt, an equal weight index of about a hundred retailers and breaking out to its highest levels since early march. very broad rally in retail this week the weakness in the megacap stocks you see f.a.a.n.g. today all down that's led to some downside moves, some big volume in some of the heavy etfs with the nasdaq 100, qqq, the internet index fund, fdn, these all hold f.a.a.n.g. names in heavy proportions. they're down they're being used as a source of funds to buy some of the stuff that's rallying. so if more etf edge, sit tight we'll talk about it. our live show starts at 1:00 p.m. eastern time. we'll be speaking with doug yones, we'll talk about the state of the industry, emerging market etfs. and the new normal for low-volatility index >> good stuff. looking forward to it. that's bob pisani. we'll see you at 1:00. . do you think it's going to be n minus 20, 40, 60 if you think we're back

lowe's, caterpillar, chevron all the banks. the banks have been sticking up the drum for a long time fewer bad loans. every cyclical had its day in the sun today. steals, real estate, shopping malls, freight forwarders, fedex. and home builders had incredibly strong new home sales for april. really shocked people. down 10%, they were up slightly. big part of the rally. it was screaming higher. move a ton of merchandise in duty-free stores seemed dead on arrival not that long ago, now trying to pack them in. what's happened is extraordinary. these companies were right smack in the middle of the covid blast zone but they were able to access the capital markets they needed to thanks to the efforts of fed chief j. powell the moment they said they would buy distressed corporate bonds by any means necessary, powell gave business the confidence to tough it out we've had no major public failures except hertz. the new narrative is simple, the recession is ending. we're looking at a fabulous v-shape recovery which begs the question, is i

you have caterpillar announcing thousands of layoffs and two weeks later issuing hundreds of millions in dividends for shareholders. so it goes back to this fundamental question in the report. what is the goal of this program? how do you define stabilizing the economy? propping up the stock market? if it does, then it's been fairly successful so far. if it means getting people rehired, if it means reducing the unemployment rate, then it hasn't been successful so far. that's one thing i'd like to hear the treasury secretary and fed chair discuss today. how will you measure the success or failure of this program? >> well, your commission will not be successful unless you've got funding. unless you've got a chair. and you don't have either one. what's the hold-up? >> well, it's up to speaker pelosi and majority leader mcconnell to come to an agreement on a chair. my hope is that they make a pick soon so we can have our full commission together. but, look, even without a staff, even without a chair, we're able to put out a report yesterday that i'm very proud of. i'm proud of the fact tha

and a lot are top heavy in the energy group but also some industrials, like caterpillar and deere. finally, we haven't gotten a lot of guidance commentary, but here's my favorite of the day from planet fitness. they were talking about maybe the challenge of cheaper rent. all of their locations are closed, essentially, but they're seeking to double their base of location from about 4,000 to about 2,000. why? they're saying the pandemic is going to give them a lot of leverage in negotiating lower leases with landlords. that's a little bit of good news if you're in that particular business expanding by getting rent cuts we'll see if that happens. glass half full. >> thank you, bob. bob pisani so as an investor, how are you supposed to make decisions on what to buy and sell in a world without guidance for more, let's bring in lori calvasina. great to have you both lori, i will start with you. your year-end s&p 500 price target is somewhere below where we are currently, 27.50 is your price target how do you even come up with a number when so many companies are pulling guidance how can y

we are showing pictures of john deere because john deere and caterpillar are two of your biggest memberss the long-term out of this looking like for your industry? >> obviously demand has become an increasingly severe challenge for your industry, also looking at supply chains that are under tremendous stress but the good news here is that we are ready to go right now. equipment manufacturers are ready to leave the economic recovery and we believe that by investigating an infrastructure which we sorely need and will help drive economic recovery. we will also invest in equipment manufactured and put more americans back to work so we see that as a win-win for our industry and for our country. >> sandra: there was a survey done on 205 executives from companies like john deere and caterpillar, 68% of those that responded say the impact on their supply chain is moderately negative. a 42% say the impact has been very negative, and then a big 91.3% say the drop in demand for equipment has had the biggest negative impact, 58% saying things will improve by the end of the year and that's an importa

boeing down 3%, caterpillar, jpmorgan, all losing today. connell, melissa, back to you guys. connell: lauren, thank you, lauren simonetti. melissa? melissa: preparing for a possible floor vote within days house democrats are moving forward on a more than one trillion dollar coronavirus relief package. hillary vaughn is in washington with the details. hillary? reporter: republicans in the house are framing this cares act 2.0 as a bill going nowhere because house democrats have been keeping republicans in the dark. the white house says they're in no rush to approve an additional round of funding when billions of dollars from the original cares act is still being spent. the treasury secretary steve mnuchin also says that he is not involved in negotiations with democrats. they're just basically having a conversation about it. >> we now have over $3 trillion. we're putting into the economy, a lot of that money is just beginning to get into the economy. we're working with the federal reserve on close to another $3 trillion of facility liquidities. these are all beginning to have a

that includes caterpillar, and includes names like 3m that have a long track record of raising theire of the dividends aristocrats that raised their dividends like 3m continued to view everything they can -- continue to do everything they can to keep the track record alive. buybacks are different story. those have been pulled across the board. part of that is looking to be prudent in terms of conserving cash, but there's a political element. given the nature of the downturn we are facing, so many people out of work, so many people facing health challenges, it is just not politically palatable to be talking about buybacks on the other end of this. i think that element of the typical recessionary playbook will not necessarily be a tool that companies rely on coming out of this. you'll see a lot of reticence to go down that path because of the potential blowback. alix: really great round up. thank you so much. appreciate the insight. brooke sutherland of bloomberg opinion. honeywell stopped down 1.3% in premarket but off the lows of the session. this is bloomberg. ♪ alix: we needed the

all of the big industrial names, caterpillar, boeing, ratheon, energy names like chevron, exxonmob exxonmobilant to shout out the banks, because they're really having a problem. the bank index, 40% below its 52-week highs. wells fargo a nine-year low today. the only stock on the s&p 500 hitting a 52-week low. back to you. >> bob, thank you. let's of people have come on this air i'm not sure if you've been recommending the financials saying they look cheap, the dividends look safe. they're priced for worst case scenario doesn't look like we'll have negative interest rates if you listen to the fed, but they keep going lower. what do you do with this group. >> we're underweight the banks underweight the cyclicals. everything we were just hearing about that is struggling we will continue to pile into the tech names, continue to pile into the health care names, consumer staples names until we start to see some greater clarity. we know there will be a pick up in loan losses we know the banks are likely to reserve for greater losses this earnings season until that's behind us. we want to play with t

not crazy about the industrials, maybe look at that i see a lot of industrials being down and out caterpillar ratheon soon i don't particularly like the group, but i do like what ed is doing with dupont. >> interesting >> on industrials, jim, those who have a factory floor, who have an assembly line and are dealing with the new realities of social distancing, not to mention problems in supply chains because that's become an issue, i think i don't know what you're hearing, just keeping workers six feet away from each other and maintaining some level of efficiency is not easy to do >> no. this is one thing people have to understand there is no issue at facebook about social distancing. there's no assembly line the productivity will be hurt so badly by social distancing tyson was on yesterday, who knows what kind of distancing they were doing. when you look at baxter raising the dividend by 11%, there's no social distancing. social distancing will be the answer to why you have to sell certain stocks what is going to happen on a cruise line? there's a gq article out about carnival the idea of car

but today is day where we're seeing the new caterpillars battle the proctor & gambles, and i have toyou, my money is on the proctors >> if a week ago, or eight trading days ago, i would say go long wells fargo and short peloton, i'm not sure you would have done that >> that would have been the most stupid thing in the world, and also correct >> yes, and also correct wells fargo, we were watching that stock it had a 9%, 9 plus percent yield, now it's down to 7.2%, given the move up in price and the overall rebound of the banks. >> look, jamie dimon came out and said v is for victory. he didn't say it was going to be a w, a u, a swoosh he didn't even say it was going to be an amazon. he said it was going to be a v, and when you have a v, you have to sell peloton and you have to buy royal norwegian carnival, which by the way, ain't no stopping those stocks now. isn't it getting tired aren't the airlines getting tired when american has to lay off 30% of the people even though they're not supposed to be laying off anybody because they took the fed money, but i know they're doing buyouts,

last month, over 10%, you can see the drags on the dow are those industrial companies, boeing, caterpillar economically sensitive financials including goldman sachs. if you take a look at 3m and raytheon technologies, does this renewed trade tension overshadow the reopening of economies, getting factories back online? the answer might be yes. overall, stocks are down, not looking at the nasdaq, three days in a row but certainly trimming some losses. let's take a look at the price of oil because it had been higher, turned positive, so if the gain holds for another about two hours, it would be the fourth day of gains for oil in a row. why am i telling you that. because the oil market, the price completely collapsed. the administration is now looking at additional storage space which would be good for oil. the airlines, however, are falling off a cliff today. as you know, warren buffett sold his entire stake in the sector and you had positive comments coming from southwest ceo gary kelly saying it is safe to fly again but that can't erase the damage. take a look at that, delta down 8.33% toda

caterpillar is up 7%, 8% this week boeing up 10% or 11% and another good day today banks, energy broadeninghe market the stocks were a little weaker. that's fine. they had a run earlier merck, pfizer weaker home depot, how come that wasn't good today have you looked at home depot's chart? this is a "v" essentially. it hit a new high yesterday. it's valued so given theed ath added expense, no surprise it was there. we'll have an ipo at the new york stock exchange. it's going to happen pricing in the next hour this is select quote they do the insurance quotation sites. they're going to price 25 million. it's a pretty big deal and priced for trading tomorrow. keep an eye on that one. big for baby boomers looking for insurance policies guys, back to you. >> it's odd to have an ipo at the stock exchange with the floor not even open for trading. bob, thanks. >>> the treasury's 20 year bonds met with pretty strong demand after being met for auction for the first time since 1986. of the multistrategy fund. jeff, thanks for joining us. what is the demand and the test of the market for 20 year bonds