both have an choppy, but as soon as we -- valero and tesoro.een choppy, but both of these stocks have moved quite a bit higher in the past three months and now we are seeing institutional money flow out through january and february, indicating they think the stocks will continue higher. that is a trend i want to follow. they have not gone to ron yet. --of course, the big risk is gotten it wrong yet. >> of course, the big risk is we think the fed will move next week. taper, how dohe you position yourself to invest refiners but protect against the taper? >> i look at trades where i can limit my downside risk and have a well-defined upside potential. this way, i am able to have a little risk for a big upside just a long was only investor, i could look at buying puts on the market at these levels. we have seen a big move higher on the vix at a percentage basis, but it is still trading on a relatively low level, holding just above 15. >> thank you very much. we will be back again in 30 minutes. in the meantime "bloomberg west" is up next. ♪ >> live

choppy session here with the dow crossing the unchanged line over 52 times in this session.ndustrial average right now. visa, ge, boeing. bob doll just recommending boeing as one of his stock picks for you. home depot and caterpillar. so a broad range of stocks from a wide range of indices this afternoon. we will see where the session end up. we're just moments away from the closing bell. david asman, what is your take on the session? david: my take if you want to the take on session don't ask me. ask bob doll or wilbur ross is one of the best people to ask. he does investments in things people have given up on, steel industry, shipping industries, liquified natural gas. a lot of people said it couldn't be done. he says it can. he is coming up in the next half hour. we have nicole petallides on floor of the new york stock exchange. let's talk about electronic arts. that has been nothing but up today. why? >> electronic arts bouncing book from a four-day slide. the shares are up six 1/2% today. it was under pressure because battlefield 4. the company is refocusing to fix the

tourists leave the comfort of cape town for the choppy ride to this reminder of cruelty and courage. they are guided by ex-political prisoners. >> june 1986, i was sentenced 14 years. >> reporter: through the cold corridors. >> this is number 7. the cell of mr. nelson mandela. >> reporter: and into the tiny cells. this is where mandela spent almost two decades. a cold stone cubicle. no plumbing. a thin mat for sleeping. hard labor in the prison rock quarry. a hard life day in and day out. ahmed muhammed cusrata was a fellow political prisoner but now a retired member of parliament. one of mandela's closest friends. >> we were sentenced to life in imprisonment, and we knew that for political prisoners, life meant life. >> reporter: but he said mandela never asked for special treatment. in fact, he refused it. >> he could have been exempted from work at the quarry. he refused. 1977, 13 years after we were in prison, he was offered release. he refused. >> reporter: over the years in prison, mandela developed a unique friendship with this man. one of his guards, crito brand. >> i don't k

. >> new details of what is in store few the google barge putting the whole project in choppy water. >> fit and trim tummy pictures of a new mom parting outrage. >> and downtown san francisco is gorgeous blue skies, a few bits of cloud. we will check with leyla gulen here for mike with the ♪ shopping for gifts online. ♪ the perfect way to get into the spirit any time. ♪ ♪ hello target.com. ♪ that's my kind of holiday. uncle go one,two,one,two,one [uncle]thistwo,one.cotch,okay? [niece]okay! [uncle]okay? [niece]one,two three,four,five,six,seven,eight! [uncle laughing] okay,we go the other way,okay? [niece]one,two,three,four,five, six,seven! [uncle laughs]there's ten spaces,you want to try again? [uncle]yeah? ♪ pose! yeah! ♪ flash! yeah! ♪ get the family to strike a pose, ♪ ♪ and show off your brand new clothes! ♪ ♪ that's my kind of holiday. >>> amazon is looking to the skies for a new way to deliver passages faster testing new drones. the drones would deliver packages up to five pounds to customers within a certain radius. this is not available this monday but it should be up and runn

living with religious freedom to debate the way we set a break on the case outside so that is pretty choppy sit in the heart of sand the opposite. he wants to do. the most prestigious dance and counting. thousands of people come together. cole looks a lot. lock them in order to break the religious freedom said britain would be just as separate and the comedy and want to step into office. as a very special. the top. maybe santa right. it's a topic thoughts thank you. seventy five years ago a group of children traveling without their parents arrived in england the first of some ten thousand children mostly jewish who escaped from germany austria and czechoslovakia before the onset of world war two the operation was known as the kinda transport skinned or being german for children monday the second of december was marked as the world's candor transport date with survivors in print on the story of their remarkable journey along to his pitches also. and to lose she allows me to come. if you live in and show tonight the shooting range. a lot we joined our school uniform will it really true. oscar

in a choppy session today, stocks were flat to slightly higher and some experts took heart of sessions of sharp losses spawned by concerns the fed may dial back the stimulus next week. here is how stocks faired. the dow up 16 points, the nasdaq added two and the s&p added a fraction lower and it was the first week for major averages, three of them since august. >>> speaking of crock pots, amazon is taking a new service. investors like the idea ex shares rose 1% on the news. courtney regan explains. >>> it may not be drums, but it could still be a big move for amazon. the online giant is working on online pantry found in the grocery and warehouse club stores like paper towels, cleaning supplies and pet foods. the consumer packaged goods market is a big one estimated to rack up 2 -- $850 billion in sales. while they took shares in electrics and media, the pantry business is still purchased by consumers in physical stores, but that doesn't mean shoppers wouldn't change those habits with an amazon offer. >> amazon is taking over the world, so why not? >> i shop a lot at amazon. i find anyt

reason for washington to one of the less involved in regional affairs they saw the nomination of choppy goal as defence secretary of the signal pointing in that direction of course the obama demonstration quickly and we are short of the body that the us will not stop interfering in the affairs of the weekend. israel and saudi arabia are not so short this point or they don't see that kind of interference that they would wanna see. down in washington or tea. i was fine with the sound of trains he defected from his oral family calling them an oppressive regime. he is the you access the pack to sacrifice the integrity of reach of law and says please and strategic interests. dennis another place to come and i believe the main reason for the change in america's alliances in the middle east is the issue of the reading nuclear program. she knew this approach to run. one of confrontation yet to come in and that this is the main reason even if it does come at the expense of america's strategic allies like saudi arabia and israel. it is awful. the court. yes this includes the middle east. i use ph

i think the choppiness is back. >> we think that the market is going to be tough. module prices are up. margins are going to come down. we think the stocks are in for some trouble next year. >> ups and fedex didn't deliver packages on time. did anyone come through without a few bruises? the ultimate channel checker will tell us who came out on top. plus the problems in china that could deal a shocking blow to commodity plays next year. >> today's top trades. first up, soft bank's newest target. >> this is rapidly consolidating. as the few remaining independent players. they have got to think about how the regulators are going to look at it. its now at valuations. i think if you have owned this stock, this is probably a good time to ring the bell. >> he couldn't round up the money mill. i think additionally, when you see a big turn over, those wash out tops or bottoms. this isn't one of those. it's not the 150 million. it's not the 50 million. >> i think it actually print 780 or 785 recently. and then you still have a precipitous drop today. >> topping 16,000 today

you saw choppy waves of soil moving up and down, sliding by at a remarkable rate of speed.ny person, any animal in the way would have been killed. any house, any home, any building would have surely been destroyed. >> titus says the heavy and prolonged rainfall prior to the landslide saturated the ground, turning the limestone rock and soil into an oozing muck. >> it explains why this is a rapid, almost astonishingly rapid event. it's almost like watching water flow by. >> wave after wave of soil, rock and trees break off and crumble down the mountain. the landslide keeps going and going and going. this scene lasts for 30 minutes, and petritsia and mauricio record it all. >> the effect was truly hypnotic because of what was happening. to tell you the truth we realized the exceptional nature of the event above all when we saw the images later. >> despite some people choosing not to evacuate, nobody is injured or killed and perhaps more astonishing, no homes are lost. >> translator: we were in an area totally outside of the town. the last house that's visible is precisely the

there were plenty of sophisticated institutions were choppy.he company got its hand on more capital it could flourish. that is why you had to take action pretty much as soon as the deal was announced. two months later it was a $12 stock. 50% gain. when you see these deals you need to take a bold action immediately. the opportunity will not lost long if you wait. there is another kind of secondary, the kind that the partnerships do, the oil and gas pipeline players that are always issuing stocks for expansion plans across the country for things that are needed to move oil and gas from texas, oklahoma, ohio, pennsylvania to the rest of the nation. constructing new pipeline is expensive. the companies that build them need to raise cash pretty constantly in the stock market. mark west, they are the best to beat players and they have become serial issuers in equity. these national limited partnerships are super high yielders and can be dangerous stocks and bonds are becoming much more competitive as an asset class. if we aret at a moment where the r

and yet you get this lingering high unemployment rate choppy consumer confidence.han a year ago because the indices are so good. but they are not helpful to many people in the united states who don't feel like they've been a part of the recovery and they've been in some ways left behind. we haven't -- here in washington and on capitol hill we haven't done the things we need to do to make everyone feel that they are moving forward and benefiting in this growing economy. >> it caught my attention. was the fact luxury this holiday season is flat. matthew what can you tell us about that trend? >> well i think it's early to make any predictions. i talked to a number of ceos today and the response from most of them is it's way too ear try to make a call on how the season went. today is one of the busiest five days of the entire shopping year for a couple of retailers this is the busiest day. so it's too soon to make a prediction. >> lindsay? >> you know one thing i want to point out we keep hearing about these better indicators in terms of the labor market but there's a

freezing. 65 degrees in and it is choppy remember a word think about doing that december or january to weave through data navy anb the aggressor to pick up messages and drop-off messages to a career. >> host: he takes them across the sound? >> guest: with five other guys on a regular basis. >> host: then he sends it to washington? >> guest: they've read it again. >> host: how do you read that the ink? >> host: you have to use the right and use it to bring it to life. there is a passage that woodhall brings it to life and his sisters yell at him meanwhile it is at stake in washington says treat this like cold we don't have much -- gold we don't have much. now people will fight to me on this but it is our conclusion there was a woman they refer to someone that would be the extreme help to us. when she joined after the letter the intelligence picks up and it seems that she penetrated the social circles. and entrees two is the key figure very well respected and is a spy for the british eventually working with benedict arnold with the effort to change the world forever to end the '04. this

in terms of the asian trading session, well, we saw some choppy trading, the s&p/asx 200 down marginally. the shanghai composite up around 1.4%. the pboc injected liquidity into the markets this week and that led to the steep decline in terms of the seven-day repo rate. so the fears about the credit crunch, which we had last we're specifically, they continue to abate and the nikkei 225 up marginally, maybe some profit taking on the back. most of the yen against the dollar or dollar/yen rather briefly touching that 105 level. in terms of the bond markets, some interesting moves that we saw this morning in terms of the ten-year treasury briefly touching that 3% level just a few minutes ago, but back below that level now, 2.99% is where we're trading right now. a lot of people said we shouldn't be too surprised if we see that 3% level. the first time we've seen this hit since the month of september this week because we're seeing so little trading volume, so volatility is probably going to be higher. ten-year bunch tracking u.s. treasuries lower on the yield at 1.93%. and last but not least

. >> we started the season can the seas were were choppy and they have trade that for the cold weatherseas now are calmer and now we get warmer weather without the winds and hopefully the seas will stay calm. it is nothing around chicago and some of that is headed to cleveland with lake effect nothing upstate new york and pennsylvania but most of that stays away from philadelphia and new york and washington, dc, and baltimore. most of the cloud cover is to the south and over the ocean. we are bone dry. beautiful picture of emeryville of the southwestern pan of the bay bridge and you can see the eastern span, too. milder highs, poor air quality again today, freezing cold in the north bay only tonight, and above average highs are starting this weekend. this is how it will broaden the picture from emeryville to the east bay hill. the air is clean and call and more areas have the potential for poor air quality, north bay, east bay valleys and santa clara valley, the 8th of the winter season has been competing standards for fine particulate matter. low 50's, and antioch is cool and santa cr

. >>> we've been in a really choppy moment for retail, especially apparel. so how is pv, company you know as calvin klein, tommy hilfiger, izod and arrow, holding up in this environment? king of the dress shirts in department stores all over north america. back in february, pvh bought warnaco, bringing calvin klein jeans and underwear back under the same umbrella as the rest of the brand. pvh just reported at the close. and while the revenues came in a bit light, they delivered a 5-cent earnings beat. management maintained guidance rather that raising it. maybe they're trying to be conservative. let's take a closer look, hear more about the quarter and where the company's headed. manny, welcome back to "mad money." >> nice to see you again, jim. >> are these the calvin klein jeans we're worried about? >> yeah. >> are these the ones we want to see because you are abject in the conference call -- in the statement that you're unhappy with calvin klein jeans in the sales. >> yeah, that business has been under pressure from before we acquired the company. we've b

it's been a real choppy session today.h a bold new plan to try and stop teenagers from defecting to rival services. our jo ling kent was at instagram's big reveal today, she'll bring us the details next. >>> and facebook's sure on a roll, the stock has just gotten another boost. is it too late to jump in, or is there still time to profit from facebook's rally? we'll ask an all-star panel next. ♪ muck. ♪ ♪ every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in theast five years - making bp america's largesenergy investor. our commitment has never been stronger. lori: and the fcc has voted 3-2 to continue talking about whether or not to lift the ban on using your cell phone b on airlines. we'll continue to follow the story. the ban itself has not been lifted, that's not

the one issue, market right at the end started to get choppy, but in my opinion, it was a wide bit offer spread. i would have pegged it around 3.895. so higher yield, lower price. "c" minus. why? didn't like the way it priced. volatility at the end, i thought, had buyer's remorse to it. 2.35 versus 2.42 on bid to cover representing a ten auction average. we had pretty stong indirerong at 46%. slightly off the mark directs at 12.5, similar to yesterday's 10. people aren't looking at it as aggressively. keep in mind, treasuries are under a bit of pressure today whether it's retail sales or the fact that equities are going sour as the fed's sweetener seems to be saying adios. back to you, sue. >> thank you very much, ricky. and now let's go to the nasdaq to sheila and a market flash. >> shares of cisco are taking a hit. the company having a very disappointing growth outlook, saying over the next three to five years, it expects growth of between 3% and 6%. that is below the originally stated goal of 5% to 7%. the company also said it is confirming 2014 revenue estimates calling for a decline

standups to explain this story in october, and it was 65 degrees out, i'm by the water, and it's choppy. imagine doing that in december, january, and february. that's what they did. you have to weave through the british navy, be the aggressor, and scare the guys to stay away from them, pick up messages, drop off messages to a courier, and over to washington. >> host: he's taking across the sound to connecticut? >> guest: with five other guys on a regular basis. >> host: uh-huh, and then once it's matched, he sends it on to washington? >> guest: and they look at it together. >> host: how do you read the invisible ink? >> guest: it's sympathetic stain, you use it to write and bring it to life. there's funny pass sans on there, bringing it to life, and his sisters scream, and there's the stain all over, and the balance of the ward in some level is at stake, and it's like gold, we don't have much of it. >> host: uh-huh. now, there's also a woman in this ring. >> guest: yes. there are people -- >> host: how? >> guest: there are people who fight me on this, as you knowings and it's our conclu

. >> you don't feel the equity markets look choppy? >> the markets are open. we will access them.e have done five ipo's this year and they have traded above the offer price. on the pe multiple basis, the markets are not overvalued. it depends on earnings growth and interest rates. my personal opinion is the markets cannot continue to compound at 20%. could they compound another few years at 8% to 10%? certainly. >> what about taxes? don't other aspects of tax reform like closing loopholes and changing the deductibility -- aren't they much more important for your business? >> that would be a material negative to our business. >> are you afraid of tax reform? >> no. the market will adjust. our business will go on. it is happen in places like germany and denmark. happened in places like germany and denmark. it will not be catastrophic for our business. would it be good? no, it would not be good, but i do not see it happening. it is an underpinning of the economy. achievea good way to that. >> let's talk about what you are doing in europe. you move from london to the u.s. 18 months ag

hard to use as a nasty way something great will proceed also with this welcome the choppy on the posh end of critical commentator and author of the euro maestro long thank you for being with us. and economists on the kepler gracing us with his presence usually in pass the senate report of a pre defined and redefined dot org thank you for being with us the falls and gets me we can join the conversation on facebook and on twitter are hushed and two for two days let's begin with you a dead end in london um how did how did the curing go on on day one there that it was. was it did to the court say that yes the uk court can hear the case. while the wheels of the nhs isn't afraid to state he said it's a little bit of love before we know that. we visited a bit over the hearings the hat tomorrow i'm dead and that we're is that judgment so we won't know to read so that the new year will judge as he decides your thoughts on on the matter the cool pool saying that the cre california based company and that this should not be heard and in the inning the score along. but we think this is ridiculous

down there during the stand up to explain the story. 65 degrees and line by the water and it's a choppy. can you imagine that in december from january, for jury? he would have to go through the british media and sometimes been the aggressor and scale them to stay away from them, pick up messages and drop off messages to the courier whether it was talmadge and go over to washington. >> host: said he's taking them across to connecticut. >> guest: on a regular basis. >> host: and then once it gets to talmadge he sends it to washington. now, how do you read the invisible ink? >> guest: there is a thing called some synthetic you have to use it to bring it to life and there are some funny passages in there where he is working on this and he goes to bring it to life and his sisters jump and yell and scream at him and they're goes all over the place. meanwhile at some level it is at stake in washington said treat this like gold we don't have much of it. >> host: there is also a woman in the spring. >> guest: people will fight me on this as you know and it is our conclusion there is absolutely a

trading ineantime, treasury futures, looking kind of choppy right now.orrow? >> it is a two-day meeting. decision day is not until tomorrow. that is what we typically set -- see. not much direction. is a key 2.9%, which area, not as important as three percent. >> three percent is something everyone is eyeing. widening --ce has widened. again, it is pretty much a wait and see. intold not go too much that right now. we will see tomorrow what the reaction is to the news. are four later this afternoon. what kind of them and is therefore taper? >> the demand for the shorter- term taper is probably what we will be in line -- in line with expectations. do not expect major moves around that. in whato want to bring has been happening in washington. last week, paul ryan and patty murray came to some agreement on the budget deal. itssenate will be voting on version of the deal. are you looking at that? >> that is an important factor. there is still the debt limit in february that will be a key issue. fiscal policy has been a drag on it. >> thank you so much. cme th

morgan chase and goldman sachs, they see a choppy first quarter and possible fed action by march. you're right. stuart: what a switch, liz? and shah, you, too. what a switch. a week ago we said this market just wants to go up. it just wants to go up and everybody was agreeing with me and now it's run out of steam. >> it's been a momentum market and i think that's been pushing it forward. earnings have been pretty decent, but at some point with the market up 21, 25, 27%, and depending which benchmark you're looking at profits are going to be taken. as we've done the last couple of days looking at asia and europe, i don't think that's going to happen and profit taking through the end of the year. stuart: liz, i've got to ask you. if you were a stock market investor and i don't know whether you are or not, but you're sitting on a nice big fat profit this calendar year, would you be inclined to sell today and take your money and run? >> honestly, i started selling last week. stuart: oh, you're so smart. >> time to tell you, full disclosure. stuart: 1.3 million, how many people will lo

we have seen choppy trading. brent crude prices around $110 a barrel.a coming out this morning seen as somewhat positive in terms of the manufacturing level that is we saw for november at a 18-month high and awaiting, of course, wednesday's meeting in vienna among leaders of opec and whether or not there's consensus about the changes in their production levels. right now, we are looking at production from opec at about 30 million barrels per day. keep in mind, though, u.s. production continues to soar at a 20-year high and still watching what is happening in terms of libyan oil production. that is something that has caused a pop somewhat in the oil market. also looking at a mixed picture here in terms of metals market and gold down significantly. some traders say we continue to see gold and other commodities take a hit as we see taxlaus selling here. equities and for gold, you can see the big divergence there and the reason why some may want to lock in gains and sell the losers. back to you. >> thank you so much, sharon. >>> investigation is under way a

adam: central falls, rhode island, emerged from bankruptcy drastically choppy retirement benefits bytalk to the man at the head of the negotiating table, a lawyer representing the receiver. lori: benefit package that is the furthest thing from being cut. charlie gasparino on the latest golden parachute flying down on wall street. adam: a perfect storm brewing for opec. fighting for relevancy as it battles supply issues in the middle east and the leadership void at the top. right now time for stocks heading to new york stock exchange where nicole petallides is watching what is happening. now negative again, what is going on? nicole: tha that is a back-and-h action we have been seeing as of late. the market has been trending to the upside these last few days have challenged that. right now the dow down 35 points, to be down for the fourth day in a row. we have not seen that for some time. down a quarter of 1%, so is the s&p 500 and the nasdaq composite. we got some adp data for private sectors, that was good news. also our home numbers so new home sales did bp estimates, that was good

gathered in two groups, began an hour-long drift in choppy waters, before coast guard rescuers found them floating on their backs, exhausted. >> i got up to him and said hey, sir, coast guard rescue swimmer. he looked over and smiled. it was a good feeling. i grabbed his arm. >> reporter: all but one survived the crash, hawaii's health director loretta fuddy. she had a distinguished career in social work. the faa is investigating the crash. a spokesman for the agency says they plan to speak to some of the passengers and the pilot. the plane's wreckage has not been recovered. robin, some terrifying moments. >> indeed. and we are thinking of loretta fuddy's family, as well. thank you so much. >>> we're going to get to more fallout from the fake sign language interpreter at nelson mandela memorial service. the fact that a schizophrenic with a checkered history could get so close to president obama and other world leaders raises questions for the secret service. they are responding now. pierre thomas has more from washington. good morning, pierre. >> reporter: good morning, george. there

there's choppy jerp markets as we've experienced in the last six weeks. >>> if you look at the dollarvery likely to come full growth and it's mainly driven by the fact that you have a lot of slack in the economy and that slack is very likely to go away successfully. it's not going to go away in 2014 but that's going to help the dollar. >>> that's the thoughts of some guests. let's get some more. normalization in equities seems inevitable as u.s. employment numbers come in stronger which would send fed tapering speculation higher ahead of this week's meeting. they argue that at the end of the cycle triggering knee-jerk reaction. it would drive equity and bond markets higher. joining us is the ceo of the fund managers. thank you for joining us. >> thank you for having me. >> to you think they should taper this week? would it be better for all of us? >> who knows. >> would you personally not like them to get it out of the way? >> it doesn't matter whether they start this week or next week. we know that the economy is stronger than people have been anticipating in the united states. that

theno carrierringringconnect 190 ..this can be a choppy report.we'll have to see what december's report it. >> of course, tis the season to be merry, holiday shopping, will that give a lift heading into the new year. consumer confidence is high. people are spending but they are being careful. people are looking for deals. as we see them come in we'll probably see more spending. thak you, kevin. >> john henry smith is here with sport headlines and he will give us a look at the college football scene. he's here looking at the key college game and will tell us about philadelphia. that is coming soon. >> absolutely i will be in philadelphia for the eagles-lions game. coverage on al jazeera. now we are talking college football. it was championship game saturday. there was a game that could send shock waves. a win over michigan. they came to play. for the first time this season - 72 yards for a touch down. cook at it again. michigan state up 17-0. early in the second half miller they were late first. miller with a second touch down. six yards out. 24 un

possibility that if momentum picks up, they could proceed much more quickly, which would make for a pretty choppy period in the markets. >> rick santelli, where are we going on the long end? are yields destined to go higher now as the fed reduces the amount of treasuries they will buy in those auctions down the road? >> i think that will be the case. but i don't think you're going to see that dynamic in year end and i don't think you'll see it until we get midway through the third quarter. i would say this, if i didn't tell you the country, and i said if a central bank kept interest rates at zero for eight years, what would that tell you about the economy that they were guiding? i will just leave it at that. bill gross said 2017 before we move rates. come on. >> rick, what are you saying? >> on the other side, rick, listen, bernanke said, what would have been, the counterfactual here, that's how we do it in economics. >> i agree. because if they would have done any, rates might have been lower. >> one at a time, guys. >> nice to be talked over. >> diane, it came up during the news conference. goi

if the strong economic numbers this week tip the balance i think some of the choppiness is going to continuenanke's last press conference. >> last conference but second last meeting. >> oh, all right. well, still the q&a, i was going to ask how do you think that's going to go? >> there might be a little bit. they're mostly going to want to get a headline. they're going to ask what are you going to do next? blah blah blah. >> right. and by the way there was talk that the fed might do less press conferences or something as part of its effort to change tactics a little bit here? you think that's the case? >> it's going to be really hard. you know, the transparency stuff is hard to dial back. >> transparency is great when you're a central bank. but coming out of the cycle it was always going to be tougher. >> can we leave it there and pick it up in the morning? >> of course. 10:00 a.m. >> it's time for "fast money" in just a couple seconds. >> the first investor in snap chat. the first guy who thought anything of snap chat? we've got him on and he will tell us what he thinks will be the next sna

freezing. 65 degrees in and it is choppy remember a word think about doing that december or january to weave through data navy anb the aggressor to pick up messages and drop-off messages to a career. >> host: he takes them across the sound? >> guest: with five other guys on a regular basis. >> host: then he sends it to washington? >> guest: they've read it again. >> host: how do you read that the ink? >> host: you have to use the right and use it to bring it to life. there is a passage that woodhall brings it to life and his sisters yell at him meanwhile it is at stake in washington says treat this like cold we don't have much -- gold we don't have much. now people will fight to me on this but it is our conclusion there was a woman they refer to someone that would be the extreme help to us. when she joined after the letter the intelligence picks up and it seems that she penetrated the social circles. and entrees two is the key figure very well respected and is a spy for the british eventually working with benedict arnold with the effort to change the world forever to end the '04. this

we've seen very choppy trading, light-volume session, doing about 60% of the volume that we typicallyw recovering recently along with the s&p 500. of course, the markets faced a couple of headwinds today. keeping a watch on the yield in the 10-year, currently below the 3% mark, and crude oil, because it's above $100 a barrel, this is a two-month high for crude oil. this is impacting the transportation average, which touched a record yesterday, but down about 22 points now, the reason being we're seeing weakness in airlines. keep in mind that labor and fuel costs are the two greatest costs, so when you see crowd oil climb, that keeps pressure on the airlines, and, yes, delta is the biggest loser. look at the airlines, though, they are, too, weaker, as the crude oil climbs. looking at the energy stocks. they're benefitting from the move in oil today. as i mentioned, exxon mobil is among the leaders in the dow components. and some of the car stocks. gm is recalling 1.5 million cars in china, but also a report in "usa today" that either gm or ford could buy tesla today, all three of them

so it's just a very hard situation to read, very choppy.er this last weekend in the united states really didn't help throughout the northeast. but the last few days, we've really seen a pick up in business as we've gone forward. >> all in all, it's about traffic. about who was able to get there, right? >> exactly. it's about traffic and it's about price point. and, you know, two stories, really, going on. i think this year successful retailers are going to be the ones that can manage their gross margin, manage their markdowns and the challenge, i think, we're seeing is that the environment has got much more sales and price promotional. but at the same time, inventories, the high-risk areas we were dealing with last year, much warmer season, we don't seem to have the issues in cold weather apparel, outerwear, and those tended to have a big exposure post christmas. i think the silver lining in this might be gross margins postchristmas might be stronger. >> the good news is, the weather's been happening out. the bad news, the calendar hurt. if

that's why we could see some choppy trading. zet kra dax is close to 9440 points and the ftse 100 seeing some nice gains from around .4%. if we look at the sectors, technology stocks are doing well. one of those is arm holdings in the u.k. you can see here up by 2.6%. one of the best performers on the footsie 100. this company is a major supplier for apple. there's a report out about a really good christmas elf here in the u.k. the stock move you're seeing today, this is closely related to the deal between china mobile that you're going to talk to eunice about. swatch group up by .6%. this is a swatch group winning the battle against tiffanys in the west. tiffanys ordered by a dutch arbitration court to pay swatch $450 million. this is because of the failed jv, joint venture back in 2007. swatch is saying tiffany moved too slowly to launch and promote the products. tiffanys, as you said, cutting the guidance. back over to you. >> thank you, carolyn. joe? >> yes, steve. >> i wanted to make sure you're paying attention. >> i'm not

. >> the caution inherent in bernanke's statement yesterday was a reason behind the choppy dollar yesterday. do you think that caution is founded? what do you make of that? >> i think the trade on the dollar quite frankly, kayla, will be over the next several years. the dollar will recorrelate back with the economy. we think the dollar has hit a secular low in the quarter of 2011 and will continue over the long term to strengthen over the economy strengthens and as investors around the world continue to come back to america as a form of stability. on a near term basis, especially given the move that we saw in yield on a short-term basis, the dollar could see more weakness. but longer term we've clearly think that we've seen in recorrelation and reconnection of the current circumstance the economy and the stock market from a longer term basis and that's very good for the u.s. >> brian, to come back on what you said at the beginning, and i now paraphrase clearly, this all ends in tears for the stock market. that's what you said, didn't you? at some point the stock market falls and the fed wil

san rafael bridge not stopping that mariner from getting out there, but it will be choppy on the bays increasing. the next couple of hours, starting to die down, they will be strong enough to knock you down. throughout the day, looking pretty good and then temperatures climb for tomorrow. . >> by the way the best looking ceo of a company -- >> right and dhor. man. not steve burke him roller costar thor. >> guys. >> what? >> the hulk. whatever. coming up, a natural disaster, hard not political battles. the new pope, how we cover the important stories of 2013. >>> up next, she is "the voice." tes anne chin on her victory t. career advice she got from none other than celine dion. right after this. [ woman ] "the levian family have been masters of jewelry design for centuries." ♪ this levian collection is amazing. maybe it's time to start your own. [ female announcer ] kay jewelers presents today's levian collection... [ gasps ] [ female announcer ] ...featuring exclusive levian chocolate diamonds. from the levian family -- where the latest in fashion meets fine jewelry. one more reason

yeah, a couple of ripples out there on the water, but it's not as choppy on the bay as it was yesterdaysan jose for today. overall looking good. breezy at times. it is the final full day of fall. by tomorrow we kick off winter, and low clouds return. two to three degrees warmer. we'll keep that warmup going for your sunday. let's check your drive. especially around the mall. >> stanley station has major delays heading into richmond and daley city. direction still heading top of the east bay or off into the water, there are equipment problems. that's all we have. major delays out of san leandro. we have slowing now north 87 as you are heading up. my friend will, one of our directors, sent me a message saying there's a crash there involving several vehicles. one lane now closed. it was very slow through the area heading up into downtown. look at the bay bridge toll plaza, and a nice new flow of traffic as well. no backup, and we have the metering lights off. we have a slow flow of traffic through the maze. back to you. >> we'll have more local news corrupt in a half hour at 11:00. see you

so if we do have some choppiness with some profit taking going on, it will give people an opportunity to rebalance their portfolios. if you started the year with a 60/40 mix, you're back to a 75/25 mix. so you may see rebalancing going on as people start to book some gains and start to look into next year. val y valuation will be the key going into next year. >> historically, valuation is not expensive at 2-8, is it? >> no. but whenever the conversation of multiple expansion comes in and i expect to get passed by that comfortable feeling, things typically don't end well. going into next year, we're using a 16 multiple for the s&p. value looks cheaper in the large cap space than growth. if you apply a 15 multiple to the value portion of the s&p, you have about 11% upside and we're carrying a target for next year of 1930, which is a little higher than a couple weeks ago when we spoke. and that's a 16 multiple on $121 in earnings, it's going to depend on whether or not earnings come in. >> do you grate agree or disagree with most of that, david? >> i agree with most of it. i'm not quite