does the cme go on the hunt for acquisitions? we'll talk withing terry duffy about business today, in his industry. that's an exclusive coming up. then, how a new wave of technology startups in new york city helps silicon valley. stay with us. >>> welcome back. pob pisani do you know on the floor of the new york stock exchange. earnings keep coming in, including retailer nordstrom's, just came in. looks like they beat on the bottom line, but they're giving guidance very much on the conservative side. i have $3.59 for analyst estimates. i think that is the reason you're seeing the strok trade down a little bit in the after-hours. a nice rally today, just the groups you want to see rallying, material stocks, technology and industrials. that all happened around 11:30 eastern time as the ecb reportedly agreed to swap the greek bonds for new bonds. elsewhere, the euro, materials, transports, and apple all doing well today. more on the greek debt talks, at tradertalk.krshs nbc.com. maria, back to you. >> bob, thank you so much. breakin

rick santelli here on the floor of the cme group. you know what i said at 308 eastern? we want a million jobs an hour. that's what we want. what we got looked like a good report. i said let's get the calculator out and i did. so did my sources and big blogs many people read like zero hedge. the labor force participation rate if you look at nonseasonally adjusted, a fresh low going back to april of '83. if you look at seasonally adjusted a fresh low participation rate going back to december of '81. what does that mean in english? shrinkage. shrinkage. 1.2 million people are now not considered unemployed anymore. they just have left the system.

>> you know, not many minutes ago, cme downgraded certain aspects of the cme group.tioned. also another aspect near and dear to my heart. remember during the credit crisis all these derivatives -- toxic derivatives floating in the universe without a good audit trail. bringing them into a clearing apparatus like the cme is a good thing. but it's a good thing to know where everything is but it's another thing that the cme knows how to margin something so digital in nature. think credit default swaps. gary, weigh in on this. >> i did -- herb greenberg mentioned to me this s&p downgrade a few moments ago. i think it gets back to that earlier conversation in nat gas as well. the credit markets, always smarter than the equity marks. who knows what's going to happen there? but i know the mf thing will not die with people that you and i talk to, although many others want to kill it. >> you know, i think what's sad here is that in the end, if it proves to be malfeasance and fraud at mf, it still isn't going to necessarily make the cme's reputation come back in its entirety. a

/2% this all means that the housing market is not yet stable the feds are shaking things up for the cme federal grand jury investigating m f global has lots of questions about what was known by the cme group which incidently iss cooperating with these investigators research in motion is struggling to compete with the i pad for its blackberry's applications many people are saying that the privacy changes initiated by google are not enough ... google believes that it gave ample lead time for its account users to review the privacy changes >>if you have a google account in your online activity is being monitored ... google keeps track of every web site that you visit and beginning thursday it will combine this with a history with information from your other online activities nancy loo is in the newsroom to demonstrate how ... you can have your search history tracked by google regardless of the device you are doing your searching on so in your web browser you need to go to google .com \ history once you get to that page it will take you to your web history and you will see a list of your ac

. >>> rick santelli at the cme group. if you look at the dollar/yen, clearly the dollar's trying to get to some of the best levels of the year and it's close. but look at the pound, a much different scenario. this is a chart of the pound versus the dollar, hovering at some of the best levels since november. interest rates, up several basis points. not a lot. if you look at something like portugal, its rates are down but still at lofty levels. so the irony goes on. how are rates going to move the outcome of greece? none of these are fully done. we'll continue to cover them. back to you. >> thank you very much, rick santelli. question of the day, which wall street executive needs to be on a tighter leash, that as we get set for tonight's westminster kennel club dog show? tweet us and let you know. perhaps running on a leash means running out of time, getting in trouble with the board? >> andrea young needs to be on a tighter leash -- >> isn't she on a leash -- >> she's still there which i always find to be shocking. i find

are trying to if the fire was set.erately and also developing tonight, a out in a church at memorial cme. the church suffered minor damage and no one was hurt. >> of the race to face president obama this fall. santorum won two strong showing in a -- a third state that has to be cold. >> that has been a dramatic for two caucuses. all four candidates in different states, here are some of the results. in minnesota, rick santorum has projected the winner with 36% reporting. how he is up 46% to 27% for ron paul. this is great news for the campaign, it is not considered a surprise as minnesota more toans has moved the right. he is also projected the winner missouri, a place he has considerable time and resources. he is way ahead, more than mitt romney. certainly great momentum from the senators and pennsylvania. misery doesn't actually decide until caucuses but a huge night for him who just spoke in st. charles, missouri. >> your votes were not just heard loud and wide. they were heard a loud a and louder. all across this country. particularly in the place i suspect, in massachusetts, they par

rick santelli here live on the cme floor. a couple of big issues. 170,000 on adp.s job creation. it was a little bit light. but if you look at intraday chart of tens, really nothing has changed. rates really not moving much. the other big story, it's their money and they want it now. no, that's not a commercial for an annuity. it looks like the most recent headlines from mf are that the money is somewhere in the system. i'm not sure exactly where. but i have a feeling we'll find out. there seems to be a little less anxiety regarding mf. we'll continue with that story. next week, $72 billion in threes, tens and 30s. and the treasury announced they're studying issuing more floating rate note. nobody would get a floating rate mortgage. but i understand a study is important. but with rates this low, stick with the fixed rate notes. >>> when facebook submits its ipo value, it's expected to be about $5 billion. tell us the first thing you think facebook should do with that money. tweet us and we'll air your responses throughout the morning. surely they can do lots of thi

we want to let you know the cme is out with a statement.ier this morning there was some talk in the market about a potential fat finger trade in treasuries that spiked the yield above the 2% mark. the cme is now saying there are no reports of error trades after that talk this morning. so apparently they're officially saying that was not the case. ty. >> new report out today showing which companies are ruling the mobile world right now. the answer may surprise you. jon fortt in silicon valley with the exclusive. jon. >> well, tyler, happening this week in barcelona and kom score giving me data on what companies are winning in the u.s. who is apps have the highest penetration. the top two won't surprise you. google on top with presence on 96%, number two is facebook with 76% penetration. but get this, number three beating out amazon, apple, wikipedia is yahoo! >> they're pretty well-positioned to do well in mobile. i think that comes in in yahoo!'s history where they've been able to really monetize their content well on the web, which has bee

rick santelli on the floor of the cme group. today we had weak housing data.d weak durable goods. but we had very powerful consumer confidence, very powerful richmond fed. and right around the time those 10:00 eastern data points were coming out, the good ones, we had news about an irish referendum. as you look at an intraday of our ten-year, of the european ten-year and of the euro currency, you could see the tug of war that was ensuing. but ultimately, as i look up at a 1.91 yield, it all seems to come out in the wash, that basically the irish vote isn't going to necessarily change the dynamics of greece, but it could have implications for the 17 countries potentially that share the euro currency. it could also have some strings attached to the referendum to get concession for ireland. but it's much dicier. but after we work through it all, energy prices distorted some of the good news. and on ireland, it seems the mash, well, not as scared, afraid of the news as the euro, initially seem to have priced out. back to you. >>> the dow making another attempt to

i can hear the cheers from behind you at the cme.rkets overseas are wrapping up their trading for the week. we are about five minutes from the european close. we'll get the close itself and some of the details of what's happened today and what may happen over the weekend. >>> coming up -- european markets closing out the week. will they be celebrating the weekend in style? [ male announcer ] the draw of the past is a powerful thing. but we couldn't simply repeat history. we had to create it. introducing the 2013 lexus gs, with leading-edge safety technology, like available blind spot monitor... [ tires screech ] ...night view... and heads-up display. [ engine revving ] the all-new 2013 lexus gs. there's no going back. my journey continuesxus gs. across the golden state, where everyone has been unbelievably nice. mornin'. i guess i'm helping them save hundreds on car insurance. it probably also doesn't hurt that i'm a world-famous advertising icon. cheers! i mean, who wouldn't want a piece of that? geico. ah... fifteen minutes could s

rick santelli joins us now from the cme. it's a big move, rick. >> oh, it is.t's a big move no doubt. if you look at an intraday ten and a one week of tens, you'll see we're up about a dozen basis points, but on the week up only about five. look at the 30-year we're up about 15 basis points, about up seven on the week. the reason i bring up on the week is because if you look at the surface unemployment, you dig into some of the other numbers, the service sector was a very good number today. one would be maybe a little surprised there's not more, but of course europe might be playing into that. look at the euro versus the dollar on an intraday. it's about unchanged. but on the week we had last week a rare close above 132. in terms of steve's point, you know, from my perspective, i don't care if it's a short-term, long-term, it needs to be addre addressed. doesn't matter who started it or how the trend is, it needs to be addressed. and he's right about the 55 participation rate, but what he isn't mentioning is it's still the highest in 50 years for those 55 and o

rick santelli on the floor of the cme. it's not easy today to ascertain is it a dollar friendly day or not. it all depends where you look. if you look at the dollar index, it's down a bit. but let's start out looking at the dollar versus the yen. boy, on a 2-day chart it's a barn burner all of a sudden. we're really starting to move. once again, if you move the chart all the way back to july of last year, you can see that we continually are making new inroads to the high value of the greenback versus the yen. but if you switch gears a bit and look toward europe, yeah, maybe their banks aren't in good shape. maybe the peripherals aren't in good shape. there's a plan to give them a workout. the euro reflecting that. we can see fresh highs going back to early december. the last chart is 10s. interest rates going down a bit. many are nervous that a big reason that in '08 the equity markets went down above and beyond the crisis and t.a.r.p., high energy prices. back to you. >> thank you, mr. santelli. >>> dutch caairline klm la

rick santelli here live on the floor of the cme group.ou know, corporate bonds not only those issued by u.s. companies, but dollar denominated investment grade across the globe is having a heck of a february. and maybe one of the reasons why is the next chart. if you look at the spread, not the price when we look at etfs, but the spread on investment grade depicted by barclays now under 200. you know, this just shows you that if you kind of like the equity markets, well, treasury rates are pretty low. this is where you're going. speaking of treasury rates, look at 30-year bond yield for the day. obviously thank greece here. we're down about half a dozen basis points. even though we were on our way to 3.25 yesterday, look at the weekly chart. 3.12 last friday. unchanged. the last chart, the one-week chart of the euro currency, same, similar, look at the day, it's down in a day but it's still up on the week. sue, back to you. >> that tells a great story, rick. thank you. well, despite the dow's triple-digit loss today, the stock market is s

yesterday we talked about cme cutting margin requirements.the margin requirements and gold did not go up as a result. just mixed results at the end of the day. >> we do have stability in currencies. gold could relates with currencies. i want to warn people in a strong dollar, weak dollar gold has gone hire. gold is a case where we don't have enough supply and more demand. india and china. >> 60-minute story was interesting talked about the rising middle class, need for gold at weddings. it's reached mainstream which makes me think we're at some sort of top. >> september has been the annual time for gift giving in india. china, the big buyers there because, look, when you have fiat currency, when you have paper currency people want to own gold. i recommend people buy gld or gold coins. not buy the stocks. >> talk to us about what's coming up tonight. >> we've got a little valentine's day special. obviously. got to do breaking up is easy to do. >> anti-valentine's day. >> that's okay. then a stock i won't reveal but a stock you've been talking

. >> he's at the cme group.morning. >> good morning. >> i guess in terms of explaining where we are on gasoline we should identify it's the link to the brent, the links to the london train, if you like that's important to people than arguably wti as things stand at the moment? >> there's still a lot of people driving. i'm seeing the prices going up on a day-to-day basis. one of the things i'm looking to, is we're seeing the refineries are slowing down. they're exporting more petroleum products. they're not refines the gasoline here we need to keep our prices down. that's probably pretty much really what's controlling it right now. >> where do you think prices will go? ivities right now we're looking at the $3 range on the march r-bob. which means at the pump we'll see $4 at the pump within the next few weeks unless we go ahead it refining turned around. >> with everybody going on holiday for easter you'll see the prices go up at the airlines. people will be paying more to the gas on the road. people got to start

. >>> meantime, let's check in with rick santelli at the cme group in chicago.onds and the dollar, rick, what's the latest there? >> melissa lee, it's interesting. because we've all been cognizant of the fact that some of the positives regarding our economy, some of the positives you're left with after greek bailout do -- have improved conditions and rates have come up. as you look at a 2-day chart of tens we're seeing the pac man effect the other way. we're eating through this 2%. we bounced off it yesterday. we're hovering just above it today. really need to pay attention. the bund's pattern is similar. that's a 10-year overseas. everybody's watching the euro. it has made fresh highs going back to december. if you look at the dollar/yen, also fascinating. flirting with the highest level since july. not many down days for the dollar. as a matter of fact, not including today, we've had seven sessions in a row of a higher dollar. today could break that string. we want to monitor it closely. back to you. >> thank you very much, rick santelli. >>> we are watching o

at the cme, what are you watching this morning? >> it seems like there's a spring winding.g headlines for months. greeks vurp the europeans, euro versus the yen, so we're waiting for something to break. so we're watching definitely ben bernanke's speech. he's going to have to say they have to hold rates low, and yet the stock market seems to trade at a high. so we're going to see if he says anything surprising there, and of course we'll watch and see if the greeks can get an agreement, but more importantly, can they follow through with it? they haven't done what they said they're going to do. we have to see if there's something to lock them in. >> so it's a market kind of waiting for something to break. what is the most likely thing to break, or are you saying that you don't think anything will? >> i think the biggest headline probably will be something out of the middle east. it's iran versus result world. we seem to be on tenterhooks. it seems like something it going to happen. no one wants to commit. there's a very low level of commitment, and we're sort of drifting. >>

. ♪ ♪ ♪ ♪ i'm beejal patel with bloomberg news live from the cme group in chicago with today's business ... apple is literally at top the world half a trillion dollar valuation makes it a new all-time high for share prices ... it is expected to unveil the new i-pad 3 and the new i-phone launched in the fall ... and a new low for james murdoch who is stepping down from his chairmanship at news international he is still going to be working in the new york headquarters of news corp. ... it will be costing you more money to have a checking account a new study says that consumers are paying 21% more in fees for basic checking that's $7.72 per month more than what they are typically accustomed to ... 30 many regulations for banks that make any discounts on these fees prohibitive ... ben bernanke is keeping stimulus effort in place ... the employment rate is still too ominous markets are in the red today after the fed the chair comments gross domestic product shows the economy growing 3% better than expected ... and income gains are stronger than expected as well in spite of the mild winter se

nearly $2, and trading above $100 a barrel after a late day session is had traders scrambling in the cmeup as well, there was a technical issue with the trading system that halted trading. settlements were based on the open outcry session from 2:28 to 2:30 p.m. and big mystery as to what caused the glitch. but traders started to notice a problem around 2:00 and session orders and all days were cancelled but we are looking at trading functioning normally and prices above $100 a barrel. and look where gas is. >> all right. a handful of companies including wrack space are making moves in after hours trading, brian is rounding up the action for us. >> they are up 5.5%. investors are digesting positively the earnings report. earnings were great for fidelity national. they were up a 300% increase, you have on own it by march the 16th, they are up 1.75%. eps and revenue was great and q1 guidance below and that is why it's down 3%. regal entertainment, is up more than half a %. insight enterprises up a bit and well above consensus that is up 16. in 2011, they expect to have paid 38% to 36% in ta

for him to say statements like that is real problem to çme. long time ago but i swear i'm physically fit and mentally fit. i feel like it's unfortunate that there are men today who still feel like women cannot serve in combat roles we're really already there. we're already losing blood and lines. >> you don't need to persuade me. i would never compete with you in any form of military activity. joe, there are now fears the only way romney can win primary is if he spends large sum s of money as he did in iowa and florida or if he's on friendly turf like nevada with 26% of the vote being mormon or new hampshire which is right next door to massachusetts. what do you think will happen many maine where he spent hardly anything and is not especially friendly turf? >> me is not that faraine is no massachusetts. he spent some money, a marginal sum. that's probably going to be good enough. the key to maine is to see if he can reestablish momentum as the front-runner. reestablish his name in the headlines, get a win to keep his pushing forward and make p

let's get to rick santelli over at the cme.e've had a lot to watch about 45 minutes ago, rick. >> absolutely. we have a lot to watch. we still have important data coming up. i like philly fed. i think that's a fairly realtime aggressive indicator to pay attention to. in 23 minutes we'll be parsing that. if you look at the world conditions with greece, portugal, spain, you know, many traders down here continue to say it's really about the banks. to that end, of course, i'm not watching banking stocks as closely as some. but it certainly looked like the second largest bank in france, their fourth quarter net, off by just a whisker shy of 90%. that pretty much says a lot. it underscores why something the size of delaware is going to have an impact. it's not really about greece. it's about greece's wonderful paper and which vaults around europe it's stashed in. if you look at rates, we're at 1.95. we were close to 1.97 after some of the better than expected data. if you look at credit markets it's telling you maybe equities are goi

rick santelli at the chicago cme group with that angle. over to you, rick. >> maria, indeed, some of the news in europe, which has bob is in an entertaining fashion, kept us in the loop on, is it within reach or isn't it. maybe some of the data being a little better. if it's not as good as it could be expected, it's not as bad. yesterday's chicago number might have been a big down move from the last month. but there's not many 60 reits throughout the whole series. rates are up a bit, i guess is the short version. interday five, up a couple of basis points from yesterday's record low yield close. you look at tens, we're up about four, five basis points. it was also hovering, you know, within nine basis points of its 171 september historic low yield. the euro currency also playing into this maybe better news in europe. but i'm not sure any news is coming game. they're at $131.63. they were higher a while ago. all of this is important. another area, corporate supply picking up a bit. there was a time not that long ago, ibm was always a magica

maybe fat fingers, whatever it is, crude oil right now, wti is halted for what they are calling at the cme "technical issue." we'll get you restarted, mandy, when it restarts. >> technical issue covers lots of terms. let's see what the street is talking about. markets are moving higher. traders welcome the news that a debt deal is supposedly done. we'll wait and see on the greece front. dow, nasdaq and s&p are solidly in the green. meantime, whitney houston album sales are soaring in the wake of her sudden death over the weekend. the pop icon's "i will always love you" is the top selling song on itunes. we'll have more on that story in just a minute. in the meantime, glg partners, one of the world's biggest hedge funds out with filing. document showing interesting pic,s i know you don't have much excitement over the weekend and you sit around reading these instead. i know herb does not like them and maybe he has more action in his life. but what's with the biggest stock holdings reveal snd. >> we'll get into that in a second. let's clear something up right now. i did not watch the grammys.

. >> after the bell, what caused the shut down of cme's trading platform monday. terry duff any talking about consolidation happening in the exchange space as well. >> looking forward to that. here's how the s&p 500 heat map is shaping up. a lot more green today than yesterday. you're watching cnbc, first in business worldwide. glad you're with us. >>> welcome back to the trading floor here at second market. the dow jones industrial average today off session highs, but of course, the dow still poised to close at multi-year highs today. financials among the big gainers on the session today. speaking of financials, second market today announcing the launch of a new pilot program, giving banks more control over the secondary market over their stock and shareholders, creating more liquidity. caryn feinberg is with me now to talk about the opportunities. also joining us is frank keating, ceo of the american bankers association. good to have you on the program. >> thanks for having me. >> thanks so much. we've seen so many technology companies trade at second market. li

and then the whole thing about separation of church and state and hended up w wkiki back s se e t c cmes thaha he madeebo johnn. kennedyendy andananngngo t towup. . in fact, i think we have some sound of that as well the idea that he okay he recognized that he blew that and he ended up today walking that back a little bit on -- is it ann coulter's? one of the radio shows. >> laura ingram. >> that's right. sorry. let's listen for a moment to romney's speech tonight or at least a little snippet of that. i would love your reactions to what you heard. >> thank you, guys. you know, a week ago, it was just a week ago, the pundits and pollsters were ready to continuous out but across michigan and arizona, i kept on meeting moms and dads and students and grandparents and they were concerned about what was happening to this great country of ours. i was confident we could come together today and take a giant step toward a brighter future. so tonight, their efforts have brought our cause a great victory, and celebrate with people across these states. thank you. tonight is also particularly special

there was a massive cme. look at that.his is a beautiful animation showing you that big area of plasma that was just ejected from the sun. that is going to be arriving in our earth's atmosphere now later on today and we'll show you who is going to be able to see it right here across the northern tier of the country, places like st. louis even into minneapolis, chicago, new york, and across much of canada. there is going to be a little cloud cover across the northern tier, so just be aware of that. and then another view that i wanted to be able to show you just kind of giving you an idea of this -- this is earth here, this is also going to be impacting mars. this is also going to be impacting mars rover curiosity, yeah, the spacecraft that is on its way to mars. so cool stuff out there tonight. >> that's fantastic. thank you. >>> coming up, sacha baron cohen, will he or won't he show up in costume, in character, at the oscars? you're looking at a live picture from the red carpet. we'll find out what nichelle turner is herin

. >> did you assume that the cftc and the cme were filling their responsibilities to audit and verify the proper detection of those assets? >> that is correct. >> would you all have done the same? >> yes, sir. >> yes. did you confirm with mf auditors price waterhouse that they had verified that controls and systems were in place to prevent that fraud and unauthorized transfers? >> no sir we did not speak directly to the auditors but typically we would not expect an auditor would be able to share information with us as a third-party. they would have a confidential relationship with their client. >> we didn't speak directly. we did recognize that they had signed their opinion to the audit opinion. >> fair enough. >> again we have no contact with advisers auditors or bankers. see. >> i assume you relied on fcc filings to complete your work. are you aware that some of the 2011 filings may have been backdated and otherwise adulterated? >> we did rely in fcc filings. when you save backdated or adulterated, i'm not aware of. >> i said may have been. >> i have the same answer. >> and just fol

rick santelli is tracking action at the cme. how is demand, rick? >> i'm still kind of handicapping it here. let's go through the metrics. if you look at the $16 billion fresh 30-years that we just auctioned, the wi market hovering at a 323 lot, so the bid and offer on yield was 3.23. it came in at 3.24. higher yield, lower price. that's not a great thing. if you look at the bid-to-cover 10 auction average of 2.66, this one light at 2.47. granted we had a 2.40 in november. it's still on the light side. but the 30-year's had a wider range, actually, statistically on some of their bid-to-covers. maybe because of the twist. if you look at the indirects, they were light 33%. 10 auction average these were 29.2. you know, the more i look at this i just don't see how we could do much better than a c minus on this one. so we're going c minus. >> yikes. yikes. >> okay. >> that doesn't sound good. >> rick, thank you very much. rick santelli there in chicago. from chicago to new york and the trading floor at the new york stock exchange, bob, how are we looking

rick santelli here on the floor of the cme group.hose headlines that we've all been talking about that came out around 12:00 eastern, they did have a bit of an impact like they did on equities in the fixed income market. ten-year bund trading within a basis point and a half of each other. if you look at the euro intraday, you can really see how those headlines impacted the marketplace with regard to greece. and if you look at the last chart, stimulus liquefication, you can see what it did to the dollar versus the dollar/yen relationship, yen high, six months. and on this valentine's day, i say, roses are red, violets are blue, if you're not sitting at the government table, you're probably on the menu. back to you. >> thank you very much, rick. >>> we want to draw your attention to the headline at the bottom of your screen concerning yahoo! and maybe we can take a look at how the stock is performing right now because it is getting hit. as a matter of fact, this is a pretty dramatic chart. it is now down 5.5%. all things "d" says talks

a technical glitch shut down the cme electronic oil trading sending traders to place bets on the new york merck exchange floor. it resumed at 3:15. it was said to be caused by technical issues. the u.s. and eu cleared google's acquisition of smart phone and tablet developer motorola holdings. google received antitrust clearing, however the regulators note they will monitor. back over to you. >> thank you, jackie. >> it is 5:19. a south bay city about to make it tougher, a lot tougher, for smokers. mountain view holding -- rules would ban smoking in outdoor dining and create a 25-foot buffer zone around doorways and windows. it will go into effect in 90 days. >> you could save someone's life by downloading a mobile app. it's a free cpr mobile phone app. it alerts you when someone nearby is having a heart attack and may need cpr. heart attacks cause nearly 1,000 deaths a day in the u.s. >> sounds like an important app. 5:20 now. coming up the alternative to a night out with your valentine. >> can you feel the love. bay area city that is talking about making its parking rules more conve

cme group also among bidders. >> we've been on a great run lately, but since it's almost friday the 13-k, we want to look at spooky similarities between this market and two other big runs and drops in the past. the s&p 500 hit a high of about 1552 in march of 2000. then got crushed as the tech bubble burst losing 50% of its value in about 19 months to bottom out at the time at 768 back in october of 2002. we then began an exactly five-year march higher. breaking to a new intraday high of 1578 back in october of 2007. then you know, folks, the bottom fell out again. the financial crisis hit. sent us down 57% in just 15 months to the rather ominous 666. that was our intraday low mark back in march of 2009. now this run. we are nearly three years into this bull market run. we have more than doubled from that intraday low, but i'm trying to point out, folks, look at how similar maybe these two pops and then these two drops are. and the trillion dollar question is, is this going to be puller geist 3? mark and steven joining us now. steven, how much concern do you have that when this run is

rick santelli at the cme with details on that. first of all, do you believe we're hours away from a greek resolution here, rick? >> well, you know what, i believe that the next lot to ticket i'm going to buy is going to be a winner. so why ask me, right? no, i personally don't. but maybe the market does. pick up on sue's topic. let's look at some of the nastier paper of late in europe. look at a portuguese 10-year. if you look at the last two days including today, what you'll see is they've shaved off a mere 175 basis points in two days from close to 17% now hovering slightly above 15%. well, let's see, if i was short that paper buying it back, my next trade would probably be, yes, you guessed it, maybe blow out some of those safe harbor bund. look at a bund chart. look at it for one month you can clearly see someone's buying into the story as the right side's moving up. then the next trade, arbitrage keep in line and we're up a handful of points today. and last piece of the puzzle is the euro versus the dollar. it's up rather str

rick santelli is live from the cme. rick. >> well, you know f you look towards the marketplace, it's pretty difficult to extract the influences of bernanke testimony and q & a. look at an intraday chart of the euro, the euro was on a bond burner well before the meetings started on the capitol hill. and a lot of that is continuing to handicap whether greece is close or not close. and look at a 10-year, it's basically not going anywhere but still at a very low rate, about the same rate as the bund. many traders on the floor framed most of this morning's very much interesting discussions between congressmen and ben bernanke in the following way, if you look at just since the operation twist began by the fed a very large majority of long end issuance has been gobbled up by the fed. so we are making fiscal policy as ryan pointed out based on where interest rates are, and interest rates are not where they normally would be if it wasn't for some of the fed interventions. and it's that relationship that has traders a little bit

rick santelli is at the cme with the results. what kind of grade are you going to give it, ricky? >> before we give the grade and this grade is the demand snapshot at 1:00 eastern. let's go over all the details. $32 billion, the ultimate yield at the dutch auction, .347. a bit higher than 34.5 basis points. pretty much right there, 35 basis-point bid offered at .345. but here's where it starts to get a little dicey. 3.35, the average bid cover, last ten auctions. this was 3.3. just to give you some perspective on that, you have to go to october's auction, equal 3.3, september's auction to find a lower 3.15 bid to cover. also below the 37% ten auction average on indirect which were 27.7 and even light on direct bids which came out 8.5 versus 11%, ten auction average. we're going to give this one a c-plus. and it priced well based on the w.i. market. but it was average on pretty much every metric. >> thank you so much, rick. >>> now let's witch on the "power lunch" power surge and drill down on the stories today. ben bernanke getting drilled by lawmakers on capitol hill. the economy

it was about the cme. >> do you think the labor unions are pumping money? >> there's money flooding into the marketplace. >> it's the shell game. >> i'm not is on the obama team, but there are some people that can rightly say this is the obama bull market and let's face it, intrade has obama at a 60% chance of becoming president again. does that hurt you? does that make you sell or buy stocks or do you care? >> think people are banking on the market rallying based on obama not getting reelected and forget about end trade. you cannot look at an election without a debate. we want to see two of them sitting in a table. >> it's way too early. >> i actually agree with it. the first thing you've said that i actually agree with. >> you can give me a hug after this. >> i will. >> but if he does get reelected you want to be selling coal names and you want to be buying the safety bets. >> jimmy rogers, give me some of your investment wisdom, please some. >> i would tell you that obama is going to win. i don't want him to win. it's not good for america, but larry, it'

he's at the cme. he joins us now. killer, i'm wondering what you're watching today and what this data has to possibly do with you're out look and whether it changes it. >> well, hey, we are seeing huge disparity with the jobs number. last week ben bernanke stands. but right now i'm bullish on treasuries. and just like 2011 and recently, every time you see that ten-year, it's a buying opportunity. until the fed moves, obviously right now ben bernanke is not moving that aircraft carrier around. >> i guess the conversation on this desk, at least, since the day the fed gave the forecast was that the whole scenario right now is bullish for both equities and bonds. >> yeah, judge, in my view it's a false sense of securities in these equities. the traders down here, you cannot fight the tape in the s&p. like penal 4r50uded to, moved two fast, two quickly. we're like 17% up in the s&p. and ever since the ecb came without with their ltro we have seen that move into equities. obviously the bond market is still signal that there

rick santelli here on the welcome floor of the cme group in chicago. and everybody's talking about foreign exchange. let's bring a chart all the way back to '02 for the euro versus the dollar. let's try to be objective. if you look at the highs in '08, '09 and '11. we have higher highs and lower lows. and here we sit. traditional technicals will tell you that this market's december tin today take the 120 level and put it to the test eventually. now, if you look at a november 1st start date on 10-years, we're in a 25-basis point range no matter how you want to slice it. and look in the backyard of the european issues regarding greece and some other countries, you can see that their credit market is moving lower in yield of two-week lows. so i contend when you stretch that chart out a bit, it's hard for me to get excited whether there's a bailout check or not that these credit market charts are telling you that we're in for everything very much different than we've been in for. sue, back to you. >> you were listening in to the morning meeting, weren't yo

rick santelli tracking the action at the cme. rick, obviously there's been a lot of demand for treasuries in general, but how -- >> you know, there's not a lot of difference between the auctions this week and many of the auctions we've had prior to some of the issues in europe. looking forward to next week's ltro. as he pointed out $35 billion, these were five-years. the ultimate yield at the auction .90. 90 basis points. 2.89 is the bid-to-cover. exactly smack on the 10-auction average. 44% is the 10-auction average for indirects a smidge under 42. this one 12.9. it's a redo of yesterday. a b plus auction and tomorrow we look towards $29 billion 7-year notes. back to you. >> rick, thank you very much. a do-over auction today. switch on the "power lunch" power surge. we hone in first on housing. existing home sales surge and the nation's biggest luxury home builder posts a surprising loss. diana olick in washington now with the details. hi, diana. >> hey, tyler. you know, surge might be a little strong for the sales numbers out t

rick santelli is tracking the action at the cme. how was the demand? what's the grade? >> let's go over metric and then get to the final grade. keep in mind those $24 billion fresh tens, these aren't reopenings. the next two auctions will be. the yield at 2.02. the low trade i saw on the yield driven when issued market was right around 199.5. but the wi was trading around 203. we went through in a good direction. that's very good. look at 10 auction average bid-to-cover this time 3.05, a little light, 44%. the indirect 10 auction average this is a 38.9 on the pricing side on that yield, that's good. so i'm going to give this a b plus. it was a little deficient on the bid-to-cover, but this is probably a pretty good thing because yesterday dealers took an inord nant amount of the 3-year. >> good point. thanks, rick. >> let's head to the trading floors and they can in with bob pisani. >> about even on the advanced decline line. s&p 500 about 11:00 eastern time concerns that perhaps the ecb which is meeting tomorrow is not going to offer as much support to greece as they h

rsts are here on the floor of the cme group. today i guess you could call it risk-on.l it whatever you want but the charts look so similar sometimes the correlation aspects of this make me a bit nervous. look at an intraday of our 10-year. look at the intraday of the european 10-year. look at the euro versus the dollar and then look at the stock market. and also remember, yes, we had some good data today, but much of what you see on these charts look so similar started a half hour before the data was out. a lot of this started about 8:00 eastern. one other thing, the inflation data wasn't good. i don't normally cover tips auctions, but about 19 minutes ago we had a really crummy tips auction. $9 billion 30-year tips. the yield at 77 was the historic low. but it was trading 70, 71, meaning it tailed off dramatically. demand wasn't very good. just an ugly auction. and think, we did have a ppi number that wasn't terrific. maybe there's just a general sense that at those yields maybe it isn't worth the effort. back to you. >> that's exactly right. sabers taking it in the y

rick santelli at the cme, where else. bob, we are a whisper away from dow 13,000.e do it today? don't the markets know you weren't there when it happened? >> i know. it came back down again. that's really frustrating. the answer is yeah. there seems to be this underlying bid to the market. a lot of traders have been talking about it. which is killing europe. have you noticed? in the last few days -- put up how well we've been doing. europe's getting killed here. they've been down three days in a row. and all of the sectors that were worrisome before, the transports and the banks and materials i have been talking about this in the last few days looking very toppy. they're all quietly moving to the upside today. so all those worrisome groups are like the materials and bank stocks doing a little better. brian, you were mentioning unicredit. i want to mention you brought it up, all the italian banks are weak today and there's a very good reason. the ban on short selling of the italian banks ends tomorrow morning. so these stocks can now again be short -- remember, ther

and then later is the cme group eyeing another acquisition now that the new york stock exchange deutsched? executive chairman terry duffy will join us. optionsxpress, where you can trade your favorite products all in one account. it's powerful, easy to use technology for trading stocks, options, and futures. optionsxpress, the broker smart traders deserve. open an account today at optionsxpress.com. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money ? if your bank takes more money than a stranger, you need an ally. ally bank. no nonsense. just people sense. sgloinchs here's a question for you. could microsoft regain its status as the wall street darling? microsoft touched a four-year high today. among many big tech highs this year. in fact, microsoft is up 21% for the year-to-date, trailing only bank of america and caterpillar, among the dow stocks. this is a company that at one time, i think it was, what, back in 1999, the year 2000, it definitely took the

let's get the latest from the cme with holly. good afternoon. what's the action telling you? >> well, it's interesting that you mentioned oil, tyler. there used to be a time where higher oil prices tended to ignite inflation fares particularly in the treasury market. however, we have not seen that type of event in the last five to six months. sot higher that we tend to see oil go, the more that you're putting a bid in the treasury market. i think you're still seeing that today. so people are talking about 110 and even higher. i think as long as that happens you're going to keep the bid in the treasure market like we've seen here and could see lower yeelgds over the next several months. >> you look at the reasons, holly, for that higher oil price and traces back largely to concerns about iran and what might happen there. and that sort of derivatively might push people into a safety trade in treasuries, right? >> exactly. so you've got that safe haven bid that's going on in treasuries. and a little bit of greece has been resolved. germany voted, things look a bit more calm as y

rick santelli here on the floor of the cme group. you know, if you look at a 197, 198 yield in 10s, look at a two-day chart. you can see we've moved down rather aggressively. if you open it up to november 15th, you can see we tested the top of the range and we fail today break through it. as a matter of fact, at these levels this would be the lowest yield on a weekly close since the first friday of february, which was february 3rd. now, if you look at the currency scenario, first, look what's going on with the euro. you can see the euro screaming best level since december. and the dollar index is euro centric so it's down a boat load. but there's a positive for the dollar. look at the dollar-yen. think about the energy usage and that's the best level for the greenback there since july. mandy, back to you. >> ricky, thank you so much. the dow is holding above 13,000. oil and stocks are surging since the beginning of the year. but the rise in crude has outpaced stocks in recent days. can both continue to move higher at the same time? l

rick santelli on the floor of the cme group. we are looking at a 202 yield currently on a 10-year note. look at 24-hour chart you can see we're not at our extreme highs, but we're over 2%. this could be only the fifth close above 2% for all of 2012. now, if you look at the euro currency today, you can see that many thought it would be under much more pressure than it is or it would be much higher. seems to be kind of satisfying both. but if you go back to when the trading range we're snugging up to began on november 1st for 10s, it's basically very ste castic. kind of choppy but in range. we still haven't reached it. look at the euro currency. i think this is enlightning. it doesn't seem to be able to gravitate to the upper end of its range. if you're trading euros to play europe, i don't know that you're getting your just desserts. >> thank you very much. retail earnings full on beginning tuesday after the long holiday weekend. the sector's seen gains of about 8% year-to-date. joining us to get ahead of the numbers on three pla

and rick santelli is tracking all the action at the cme. what's the demand, rick? >> well, i guess the best way to summaryize this is if this 7-year note auction was a bo derek movie, it would be called an 11. this is a shocker. look at the wi range, the yield range, it was 142 to 146. this auction came in below the lowest yield. so a higher price. 1.418. so it went right through. if you look at the bid-to-cover 10-auction average 2.81 this one sailed it 3.11. $3.11 chasing worth of securities. the indirects above the 40% 10 auction average. 19.3 on directs blows away the 12% directs 10-auction average. here's something interesting. dealers took down less than 40% of this auction. it was spectacular. back to you. >> all right. thank you very much. >> okay. let's switch on the "power lunch" power surge and drill down on the stories driving the day. this has got to be the stock of the day. and i showed it to you earlier. it is vivus and it's really soaring by 86% right now with the company getting key recommendation approval from an fda panel for its obesity drug. se

cnbc contributor jeff killberg from the treasury curve is at the cme with his take on crude's next move. what is it? >> hey, how are you? >> good. >> we're seeing this crude come off. when we talk about how markets gravitate and viewers and listeners on the fast money halftime show know that markets want to move these air pockets or vacuums if you will. we've seen the 103.73 and talked about it last week on the halftime report. once we violated stocks went up and right now we're seeing these prices tick up. so i think 110.82 was the may 3rd, 2011 close, so we'll see this volume continue to come in and execute stocks to bring that price of crude higher. >> you think it's going -- you think it's going to hit 110 when? >> shortly, judge. if i had the crystal ball i'd be on the caribbean beach no doubt about that. but we see this happening in the short term. >> you're supposed to know these things or at least make bets on that behalf. >> well, i think we laid it out fairly well. >> all right. >> i think this is going to happen shortly. we're seeing this come in and that's the problem becaus

rick santelli here on the floor of the cme group. there's a lot of news out. there's a lot of auctions coming up in spain and france tuesday and thursday. we have supply next week. of course, towards the end of the month ltro, that liquidity operation. but look at a chart of 10s, here we are virtually unchanged. once again our path was a bit wild in terms of higher to lower in terms of yield. we've snugged up against top of the range. look at the bund. same pattern except they're a little higher in their yield process but net net a little lower around the rate at five basis points 193 year-to-date. very similar pattern to the u.s. foreign exchange side 24 chart of the euro currency, we were once again looking close to 1.33. now we're back to unchanged. if you open the chart up to december 1st, snugging up to top of the range just like the fixed income markets except for a little bit wider comp going back to early december. sue, back to you. >> thank you, rick. apple breaking through $500 a share this morning. the stock's off of that a little bit right now. not