well, we have andrew key in the pits of the cme.ark temper calls for a correction, but he's got names that you can still make money withings and ryan deidrich whose last stock pick up is up more than 20% since he told you to buy it here. listen for his new picks coming right up, but before that, let's go to the cme, and andrew, i got to talk about the markets, these records, the s&p and so forth: what are the s&p futures telling you about what tomorrow we have another record? >> well, we've had another nice rally. end of the quarter today. we knew we got window marking in the end of the quarter, a strong year, and i'm not surprised to see us close on the high of the week. we had economic data earlier this week, and that was okay. we had news from cypress, the market doesn't want to slow down. it's stock specific, though. we had a selloff this week in apple, google, and the bank is frothy up here. the thing i look at is catalysts, earnings, april 9th, with alcoa, and until then, play the same, long on stocks, dow based stocks, stocks

liz: checking back in with todd in a fee seconds for the cme markets.avid: we have david steinberg and cofounder and ceo of global exfunds. gentlemen, great to see you both. david, first to you, i don't know if you heard todd, but he said, boy, if you have new money, holding back, waiting until a particular moment, this is not that particular moment. do you agree? >> it's possible, markets are not always linnier. there's a big move. there could be digestion. whether you get it or not, could be event driven or something from europe or china. it's tough after you had, you know, a big move for people chasing things along. directionally, the evaluation of markets should go higher over time. there's no yield in fixed income securities. you got major countries around the world, central banks debasing currency. there's value in the market place, but there's bumps and little extended maybe here or there, we'll have to wait and see. liz: more than a hundred points to the downside, bruno, it could be a bufferin, -- bump, but putting that aside, do you expect more

at the picks of the cme and our market panel. chief investment officer and multimedia trust associate portfolio manager. larry, i want to start with you, who is very difficult to find any direction for the market today, what was moving it? >> it was more news at home or lack thereof. people are very anxious right now. it is like holiday where people don't know what to do. we have lived through this crisis mentality for a long time, traders are waiting for the next shoe to drop, whatever that might happen to be. we are all very, very anxious. liz: there is anxiety, but decent data that continues to repel the market. so there i that is reality of positivity. >> definitely. the concern is macro is failing to impress us. the something else to pick up the baton. liz: we have six record high close is. >> exactly, but i am saying we need another metric to go beyond where we are right now, that is why we're seeing the lack of liquidity. we are not seen a whole lot of the volume. something else has to pick up at the time, i'm hoping it'll

phil, at the cme, teddy is right. there have been a parade of people trying to talk this market down. yesterday we had a technician on, and he said 10% correction coming. wait till you hear what david darst has to say. he's coming up in a few seconds. but what do you see here with the trades you see flowing through the cme? >> well, today was really a small reallocation. we had goldman sachs come out and they revised their commodity outlook higher. that's why you are seeing gold prices start to surge. you are also seeing oil despite the fundamentals which are quite bearish, also rebounding as well. a little shift, a little profit taking on the equities. a little reallocation back into some of those long commodities. liz: elliot, i'm looking at crude oil, while it did get a lot closer, that brought the price down just a bit at least when it comes to oil. is there nothing more than a stronger or weaker dollar at play here because we do have some pretty -- i would say fundamentals that make it look bearish to have this p

lauren: we have larry in the pits of the cme and our market panel with managing partner there, and the founder and president, let's start with larry at the cme, this is a headline driven market, some people are saying cyprus with a teacup. and the meeting tomorrow, how do you put this all together? the market was obviously confused. larry: this is the bottom line, a ton of chatter, very little real news right now. the market had been in a stalemate for quite a while. some macro headlines coming through europe the last couple of weeks. we had italy and the unknowns there. i think the issue is much bigger than that. david: we have adobe earnings after hours, what are the numbers? >> it is a beat. $0.35 on revenue of $1.01 billion, expecting 986.04 million, can the street expecting earnings per share of $0.31. one of the things the company is saying is retrieving strong digital marketing revenue and booking growth in the first quarter so it is a beat on both lines. david: that is good news, if earnings season continues the way adobe has been doing and others, maybe the rally continues to

let's head back to phillip in the pits of the cme.n of what will open at tomorrow, phillip? sound pretty wild? >> well, it is pretty wild. we have a lot of data coming out tomorrow. you have consumer sentiment. durable goods and new home sales. a lot of data coming out. keep an eye on the 1539 level. that is low of s&p. we have break through there. could be selloff continues. david: phillip, thanks very much. good stuff. thank you. >> thank you. liz: let's talk about smithfield foods. it is getting a boost today. nicole is on that story. >> that's right, liz. we watched smithfield foods jumping moving from annual highs to one year highs. based in smithfield, virginia. that is packaged foods and the like. now seems they have secured goldman sachs to explore some strategic about options and that could unlock some shareholder value. talking about the possibility of splitting the company into three separate businesses. that could unlock the value of these shares. you see it close at 26.85. some say it could move the stock to $48 a share.

adam: we have got mark sebastian in the pits of the cme other market panel. dan, january any capital markets technical research director. first let's start with mark at the cme. so, what are you making of all of this? we close in the red. all three index, at one point we were down triple digits. why did we go so far and pull back a little bit? >> all this sign -- cyprus news coming out. first there is news conferences. the markets are being held hostage by a speck of the economy. imagine the u.s. completely shutting down operations because of what is going on in detroit right now? that is basically what we're dealing with right now. you know, really kind of holding up the markets from, be impressed we're only down 12. six months ago this could have really, really caused the markets to tumble and they're not. i think it shows some resiliency here but we're all kind of on eggshells waiting to see what happens here. i think we get some resolution, with which we probably will. that's when we'll be able to see the s&ps really break out. we'll see dow rebreak new h

and jeff flock at cme.et mae start with you, what is the number one question traders are listening for as traders get ready for this news conference. >> we're here new intraday highs on the dow jones industrials. same for s&p 500. we watch ben bernanke you should note. traders have same sentiment. you have very accommodative fed and ben bernanke and his team with the exception of esther george. >> two thoughts quickly. vix, fear index is low. somebody seems to be worryryed about wall street at all. we're grinding higher for major market averages. 10-year at 1.94%. that is something we continue to watch as well. so very accommodative, and they expect that to continue. because they know. eurozone, no mention of the risky eurozone? i thought that was surprising as well. lori: we might get that in the press conference. melissa: for sure. lori: we'll wait for reporter to ask that question especially with headlines out of cyprus this week. michael cox, to you. nicole raises a interesting point. what if the econom

to cover all this is mike in the pitts of cme and also our market panel.e have scott from granite investment advisors chief investment advisor, lee munson, portfolio llc founder and chief investment officer. we have liz claman down at the nyse as well. mike, let me start with you at the cme in chicago. let's start talking about oil. i thought it would drop below $90 a barrel. it is at a low right now. what will happen with oil and why is it so low? >> well, first of all there was a little bit of a misnomer because you had the big 200 day average in crude at 90.38. we did violate that by a couple dimes. you thought you would get the follow through but that didn't happen. that was correlated to the way euro is trading against the dollar. dollar strength not well for the crude and. why is it happening? as you were talking about the industrial metals market out of china. slowdown in manufacturing will relate to consumer demand as consumer demands diminishes anticipating lower demand in oil. david: mike, excuse me for interrupting. we have breaking news on warr

s&p futures are closing let's head back to tim mulholland in the pits of the cme.t are you see, tim? >> we're closing near the highs. slow volume day. next week is the first week of the -- last weeks of the first quarter. so i think that we're looking at some regional fed manufacturing indexes, and end of the quarter. this market sits back a little, one step back, two steps forward. david: everyone wants to it is friday. everybody take a breath. tim, thanks very much. >> sure. shibani: shares of grocery conglomerate supervalu are soaring today. let's head back to the floor of the new york stock exchange and sandra smith with the latest. sandra? >> hey, david, hey, shibani. investors of supervalu the supermarket chain are breathing a fresh air as the stock is trading over 15 million shares. the basically the grocery store chain announced it closed a many could plex deal where cerberus capital management led group slimmed down the supermarket portfolio of this company. they shook up the board. they shored up finances. came in there as big investor along with superval

let's start with scott at the cme. scott, we know it is a record high, 8th in a row. what we're not sure how much new money is coming in. there is so much money on the side. are we getting a sense that new money is coming in now? >> taking the contrarian point of view that is kind of what scares me up here. for three years this whole rally we actually saw net outflows from the marketplace. now we're seeing money come in. we're seeing big-time analysts talking about gdp growing. analysts bullish on the market. we're starting to see the insflos. if you're a con contrarian mindset which is not necessarily a bad thing you have to start to get worried. like you talk about, david, the vix, six-year lows. david: right. >> watch one thing. the volatility of the vix. so there is a vix measurement that is 11.3, we're closs or whatever. there is the volatility on the options that trade on the vix. that is actually off its lows and ticking up a little bit. so what i would tell people and what the guys behind me would tell people that aren't trading s&ps here, if you're in the mar

liz: we have larry shover in the pits of the cme and eugene profit, and joe durant, you nighted capital ceo and founding partner. larry, i want to start with you. we got good data when it comes to first time jobless claims but we also got news from the ecb that they would not do anything with rates at the moment. does that mean we'll continue to the upside absent any negative headlines? >> i think we will. this wall of worry still has a little bit of room to climb. a lot may be because of the ecb but really because the growth metrics are there right now for the time-being. right now traders are trying to interpret all this information, somehow knowing that the ecb wasn't going to raise rates. stocks really shrugged their shoulders on that. obviously the euro didn't shrug its shoulders but equities did. i think right now it is a big mix of interpretation. that's why we're grinding higher. david: larry, let mae bring in the american economy into this. americans have less cash in that are pocket to spend partly because of taxes going up f they spend less haven't that eventually hit the sto

the new york stock exchange, the cme group, and, of course, the nymex.onathan, our good friend, standing by. i'm curious, as we watch this is so close to this new level, the financials. what do you see? >> absolutely. this market trend higher and higher. like the slow pace of the we are seeing. spread across the board in different sectors. what does this tell me? it tells me, like we have been saying, that this rally is real. we announcing a lot of volatility in the markets. taking baby steps higher and higher. extremely healthy for the markets. over and over we keep seeing that. cheryl: and the economy is looking good. you're absolutely right. let's go to the cme. all right. let's go back. i mean really, you always tell me. it's not about the dow. it's about the s&p. that is the true handle on the market. we are so close. that's true bull that we need for the rest of the year. >> at dawn of the rest of the year, but certainly i am considering that old adage. we keep climbing so much. we do a point here, a point there. the dow does five to 50 points. the

jeff flock at the cme with us. sugar could leave a sour taste in our mouth.first, nicole at the floor of the new york stock exchange. nicole: let's kick it off. dow jones industrials down five points after five straight record consecutive closing for the dow. obviously up about 10%, and the best quarterly return we have seen since late 1998. up about 10% for the dow is a pretty good run. again getting us going. getting concerns about the z pack. most of the buying it in grocery stores and auto and gasoline. but you never know. this will really be tied going into the closing bell. jeff flock, what is going on? jeff: we are talking sugar today, something a lot of traders at the cme are talking about, nicole. the "wall street journal" reported th the wall governments considering buying 500-ton of sugar. why? to try and boost sugar prices. today it is bouncing around. but sugar, t and look at the one-year chart, has had a tremendous fallout. propping them up essentially, but they made loans when sugar was $0.24 per pound, it is now $0.18 per pound. the government

let me go to daniel at the cme. ben talking about the fact we had this pullback a little bit.you're saying that we could be in for, like, a 5 or 7% pullback, but on what, daniel? >> you know, i most certainly think if you look at the move we had just based on this little event in cypress, a gdp less than that of vermoot, what's going to happen if a spain gets touched, if an italy gets touched? this market is precarious. i don't think it'll have a long-lasting impact on our economy. we've been dealing with a lousy europe for a long time. but you'll have this pullback at 5 percent which is about 1484 and 7% at 53, i might consider getting back in, but i'm not doing it until then. cheryl: looks like europe doesn't have a plan, obvious. let's go to the nymex, jeffrey grossman. jeff, let's talk about the oil contract. one of things we saw today again was the safety of the u.s. dollar. you had traders around the world jumping into the dollar. your take. >> today was really a dream come true in many respects. we walked in this morning, the dollar was very strong, took our market down

let's go to the cme and ira epstein.as just looking, obviously, at the euro versus the dollar, what else are you watching? >> well, i'm watching the gold, and i'm watching the silver because they're both trying to, if anything, create a bigger trading range, in other words, break out to the upside of their trading ranges. silver yesterday tried the downside, failed miserably, reversed today almost a full dollar higher. so those markets are starting to pick up on the cyprus issue, and that's what they're looking at at this point. the stock market, also, if it's tiring here -- which i think it is as well, i think the momentum's losing some of its peak there -- i think it'll pull back. i'm not talking a bear market, folks, i'm talking a correction in the market, and sometimes you get rotation between currencies, the metals and the stock market, and going into cyprus, that's exactly what i think is going on. cheryl: all right, over to the nymex and jonathan. he was talking about gold, he was talking about oil but, of course,

joe at cme. markets in positive territory all day long, hitting new highs but a rare muted reaction to the fed. so we'll start with the fed. why so muted? >> well, because i think we didn't get any change in policy. we didn't hear anything about the hawks resurrecting themselves and actually seeing some dissensions that is getting deeper. you saw the printing presses continuing and the market reacted accordingly. lauren: i saw one kang and that was this in the statement. fiscal policy is somewhat more restrictive. that is obviously reference to washington and the debt seal being sequester. what do you make a of that, jo he? >> i think more of an accommodation they will pepper light phrases in there that might get set up for the policy some day down the road is going to change. they put that language in there to get us ready. david: joe, talk specifically about a sector, the tech sector. we had a couple earnings that reflect on the tech sector. oracle is down after-hours because of its misses on s

cnbc contributor is at the cme. let's break down some of the calls. shall we, jim?sure. >> let's go with citi. upgrading verizon to buy from neutral. noting that shares haven't yet priced in, quote, the accretion prospects from possible leveraged buyout of vodafone ownership. price target up to 54. over two months verizon run up 14% over the past two months. what do you think, jimmy? >> i had to look up what accretion meant. normally that should flash caution. when they start talking about buyout, that can be a powerful price driver. i looked at the chart. to me, if it settles two days ago, higher. it could have a leg higher. i like this call. >> let's move on to morgan stanley, upgrading hewle hewlett-packa hewlett-packard. we see further upside to at least 7x. that's seven times. that's up, big move, jimmy. >> i think we should say shares have doubled in four months twice because that is a powerful move. i'm long hp. i have been long. we talked about this show a couple months ago. free cash flow and the potential for a nice dividend is good but i can't green light

let's get right to the cme and jeff flock. jeff: excuse me for the glasses.s is the crop report, by the way. a lot of pages there. i got the man in the coat this hour. what was your headline? >> it was hard to make a ton of changes unless you want to screw with some of the numbers in the report. they really did not do a lot. jeff: this is rallying today based on the report. >> it will still attract a lot of planting this year. we did not change a lot of the numbers. now we are looking at march 28. jeff: tell me about this, this exchange had a lot of funds in, a lot of funds, a lot of investment. >> they got a little bit ahead of themselves. dollar-denominated products should automatically go up. we are going to be inflating. those people had to take their money back out. jeff: we look at soybeans today. also, perish on soybeans. perish on wheat today. the volumes are so thin. it is typical. jeff: scott, appreciate it so much. alwayy nice to see you. what can i tell you. is pretty much just unchanged. tracy: jeff flock, thank you very much. ashley: the safe ha

let's head back down to the cme group in chicago where mark sebastian is standing by.econds left, mark. what does this telling us how we wrap up the week? >> looks like we're going to close unchanged. guy came in to sell some futures. we may give up a couple ticks on the close. i wouldn't worry too much about it. it's a friday. not a lot of good reasons to take a long position into the weekend. probably just some people that got stuck long. sandra: but, mark, this is a difference in the trend that we've seen over the past ten trading days where we finish at the highs of the day. here we are sort of selling off at the end of the day and the week. >> i agree. i will buy into some sort of selloff when it is more than one digit selloff. maybe then i will start paying attention. sandra: there you go. >> until we break 1550 i think we're straight up from here. that guy buying $4 billion worth of the s&p 500, that gives me confidence i'm trading with him. sandra: awesome. that is why we go to the trading floor. we like that color. mark sebastian. david: do you ever miss that?

rick santelli is at the cme to tell us more about that and how things are performing today. ricky. >> hi. everybody agrees with warren that treasuries are a crummy investment pu but he said that for a number of years. maybe they are a little less crummy but let's face it. you do the math. look at the ten-year, and look at two days. and you can see we are balancing out. just kind of recooping. earlier today and friday's sequester, fell on its face with regard it market movement. now let's look at every central bank that meets on thursday. the euro versus dollar, virtually unchanged today. but hasn't add good time of it. let's look at the dollar yen. yen is going up today but wow look at year to date chart. the last one, central bank meets as well. pound versus dollar. even though it is having one of its bigger updays, i'll let that chart speak for itself. tyler, back to you. >> so it does. thank you very much. black eye for some of the nation's biggest banks according to new york times. bank of america, city group, j.p. morgan chase and wells fargo forclosed on more than 700

scott over at the cme, was this a cyprus selloff or is there something more to it? >> no. it definitely is a cyprus something. i wouldn't really call it a selloff. in fact over, if this happened last week during the week or even during this week instead of over the weekend we may not have seen the s&ps down 13, 14, 15 like they were overnight. and what this really is a point is that anybody that gets this pullback, people waiting for any sort of pullback, immediately are coming back into the market. that's why we saw this market come back today. i know we had a chance, david, like you said to actually look like we maybe were going to close up on the day and we closed down but we're only half of where we were early in the day today. so there is two things going on here. last week when i was on thursday, we talked about the vix, but we talked about volatility of the vix. we were talking how, boy, just stay in the market, get the market but buy your protection. if anybody had done that people bought that, up 20, 30% today you could have made money overall between the portfoli

iny all cme tame to study the nile valley. expanding realm of human freedom, social justice and human flourishing. struggle and the record of humans into the process of shaping the world in their own image and inches. the struggle for human freedom, social justice anstand at the head and heart of this struggle. we study indicate history at the people for several reasons. history'sle to learn lessons. history is x said, best prepared to reward our research. we study history to a store its spirit of human responsibility. garvey said -- as marcus said, what humans have done, humans can dol . errors and custodians of a great legacy -- we are heirs and custodians of a great legacy. mullahr to practice the -- the morality of his image. there are two things we should always care about -- never to forget where we came from and always praising the bridges that carry us over. the most ancient of human history is, there are three defining periods which offer lessons. there are other periods of similar destructive as but their inescapable

i want to start with todd at the cme. give us a sense whether it is now business as usual for whether the records continue to excite or concern? you tell me emotion there. >> hi, liz, hi david. what is going on right now, we're getting very narrow ranges again. the market is pricing to perfection. this is ho hum. we escaped another record high. as far as traders are concerned they're looking for every opportunity to take the chance to sell here. each sell is met by buyers. we pushed the market to new highs again. as far as the overall action here it is very subdued now. ho hum, a new high. we'll see what goes on tomorrow. david: here is the overall question though, todd, just to put a fine point on it. are you taking a greater risk now when you buy a stock thinking it will go higher instead of holding onto cash waiting for a dip? >> i think now you have to observe the market and stay out. i don't think you want to put in new money here becauue i think we're much closer to a temporary top. i think there's a lot more risk t

. >>> to chicago where rick santelli is tracking action at cme.een talking about the creep up in interest rates. talk about me. >> it manages to creep even though we know feds are heavily involved in buying it to keep the creep from getting too creepy. now if you look at an intraday chart you can see we are up about five basis point. up more on the week. open the chart up, go all the way back to april of last year. that's the time you will find the comp which means we have basically 11-month high yield. a whopper of a day, up about .75%. best levels in seven months going back to very early august. last chart, don't use this chart much. this is dollar versus peso. you can see the peso is pretty strong but bump along in the range. mexicans cut 50 basis points today. first cut in close to four years. partially controlled capital inflows and to spark economy. tapering off just a little bit. a hot economy, sue, back to you. >> okay, ricky, thank you very much. let's talk china. taking wall street by surprise. soaring nearly 22% in february. is china th

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we have mark sebastian in the pits of the cme.e have a head of raymond james fixed income and tyler. mark at the cme where all the action is before the end of the trading day, we had new home sales numbers. we had durable goods numbers. what were the numbers that pushed the dow into triple digits today? >> i just think money flowing in. we've now put cyprus behind us. i think that your row trade is less than what people are caring about. and really, short this market at your own risk because every time we sell off it is a big shakeout trick and we rally right back. this is a big surge day. we're right off the all-time highs. you think we break them tomorrow unless some sort of crazy number comes out overnight. i can't think of a good reason to short into a long weekend. liz: whoa, whoa. what about cyprus? mark, we've got those banks that are supposed to open thursday. a, what if we don't? or b, what if they do and there is a lot of tension? does that work its way into the psychology here and affect our markets in a negative way. >

in today's traders unplugged, from the floor of cme group, the gloves are off for our pro traders, alan knuckman and andrew keene. ready to go guys? let's take a shot at round number one: marissa mayer of yahoo is banning employees from working at home. it didn't go over very well, but best buy is following suit. is that a reason to sell either one of these stocks? > > i don't think so. i personally know i work better from an office. i could work from home as well. i know i am a lot more productive in the office. but a lot of americans are sitting in their cubicles at home, and when they are done at work, all they want to do is go home and forget about work. if you actually work from home, you are actually more productive, you actually work more, five to seven more hours per week. it is a study that is actually factual, alan, don't try to- > > you are not answering the question! the question is which stock would you buy or sell? > > buy yahoo! are you kidding me? best buy is a terrible business model. they are a showroom for amazon. > > i liked yahoo when it was at $12. at $20, i don't

fox business kutcher reader, price futures in the pits of the cme. a combination of factors pushing oil or? >> reporter: you bet it is, ashley. if we elected the fact that the chinese manufacturing data was very weak, you know and, of course, concerns about the u.s. economy and the sequestered. a lot of reasons for it going down right now. the other key things that are being talked about is this report that there were 14 tankers ready to go filled with oil. 80 percent full, ready to go. that is also making the rounds in the market. definitely you have to look at the dollar. you have to look at some other things. we have had a wild ride. the good news, i will give you some economic stimulus gasoline style because futures also hit the lowest level since january. they have come back a little bit , and they seemed to come back on the consumer confidence number. and that number came out it seems to suggest that consumers are saying, hey, maybe we can sell for gasoline. because to spend some money. that is amazing when they're not making as much with the m

jack scoville of price futures group is watching the trading patterns from the grains pits of cme group. "overall, unless there's a sharp drop-off in demand especially on the soybean side on export or corn side for the domestic we should see the bull spreads pretty much work." meantime, indiana farmers have recieved a record $1 billion in crop insurance following last year's drought. collectors items are gaining value. according to a collector's index, all nine categories of popular collector's items increased in value over the past decade. classic cars had the biggest gains, while, coins, stamps art, wine and jewlry also became more valuable. analysts note without expertise, investing in collectibles can be a challenge. still to come, a look at the films gearing up to compete with the great and powerful "oz." that's later on. but first, spring fling: why the housing market is ready to sprout in the months to come. that's next with bill moller. home sales, home prices home construction - all three of these lagging indicators now are markedly improving, and that's a sure sign that the ov

from the floor of cme group, our pro traders, alan knuckman and andrew keene, are geared up for some frank talk about the market. let's move to topic number one, guys: commodity calm: big banks are experiencing a revenue decline because of commodities. which commodities make money here? > > i think the strategy that should make money even though it's not would be to be short the banks. the banks i've talked about. i don't like their business models at all, but the fact is they continue to go higher. so i am just playing on the side of being flat them. the banks used to make a lot of money on the trading desk and the bond desk and the oil desk. they are not making money on the trading desk, so the good thing would be to be short the banks, but you can not fight this market. > > that is simply because volatility in everything has gone down, so that means there is less price movement, less opportunity. but goldman sachs has gone from $90 to $160, morgan stanley has doubled from $12 to $24. i don't think you want to step in front of that bus. i like oil as a commodity. i think it is unde

joining us from the floor of the cme group, pro traders alan knuckman and andrew keene, ready to jump into the ring with round 1 - brand bets: a number of brands on wall street have fallen out of favor. which one would you buy: groupon, hewlett-packard, or blackberry? > > i am going to actually choose hewlett-packard. i can't believe i am going to say this on tv. the stock is trading north of $20. on the chart, that stock looks the strongest. trading above the $20 on the 50-, the 150-, the 200-day moving average. they just reported a good earnings quarter. if they can actually come out with a good earnings quarter that's quite amazing, possible break-up of this company here. i think it's hpq. > > i like a distressed company - facebook. it is 20% off its january high, so this is a good level here, because this is the halfway point at around $26 of the ipo initial price there at $36 and the lows. > > initial price was $38, though. $38. > > $36? > > $38. [bell ring > > $38 at the bell. round 2 - coppertown: china has bought enough copper to wrap around the world. is this a heavy metal th

joining us from the floor of cme group, alan knuckman and andrew keene. and we move right into topic number one, guys: gold or silver? arizona could become the second state to have gold and silver as legal tender. which one would you buy? > > i like silver a lot more. it has industrial production. it is used a lot in mexico, in india. it has industrial production. gold is worth the same as diamonds. we had this discussion on the show, supply- demand curve, and the supply- demand curve seems like there is a lot more supply than there is demand currently, so i think it is headed lower. this is going to be the first year in 12 or 13 years that i think gold might actually have a down year. so i am taking silver. > > all right, we still have a long way to go in gold, but looking at gold, it takes 8 ounces of gold to buy the dow. that is getting to very near historic lows, so there is a lot of upside potential in gold if you look at it from that standpoint. but i do like silver. silver is about 45% off the recent highs. i think there is more upside in silver, a

okay, strap in, we're going down to the floor of the cme group. it's time to do a little thing we like to call traders unplugged with andrew keene and alan knuckman. ok boys, you ready? > > yes sir. > are right, let's see who can stand up to three rounds. first, round 1: it has been a lulu of a week for lululemon. has this been, with its see- through yoga pants, something of a mini-misstep or a stock- blasting blunder? > > believe it or not, i am not bullish on this stock. > > what? what? > > this stock was at $1 in 2009. it made a triple top. i just don't like it. they have made too many mistakes, and we will have to see if this support holds at $62, but i just don't like the action. they are not acting like professionals, even though they are #2 in retail-sales-per-square-foot in the country. > > yeah, i mean, the one thing, i actually agree with alan, he's not bullish about something. that's quite amazing. if you look at the chart, the chart looks very weak. it did hold the support level at $62. it came out with earnings. it is actually up on e

the new york stock exchange, cme group and then willis is in new york, and let's start with the nyse. what is on your mind? pretty optimistic? >> has been a great week. the offing for most of the investors who understand is that the united states equity market actually benefited from the crisis in cyprus. it is counterintuitive, mostly european embassies have taken it further south. we are the benefactor of being a safe haven, thinking that we would never be one to compensate this for the security of a bank. connell: it is kind of the theory or situation in general. we have seen us more than once. even when we have problems, sometimes we benefit. even when our nation -- we were downgraded, and money came in here. we were always the best of the worst. you continue to think that? this mess over in cyprus? >> yes, we have gotten some pretty bad economic news. not even just the cypress situation. we have some economic numbers this week. i think what they are worried about is when is this musical chairs game stop. i better make sure that i have a chair stop when i need it. because then sta

and what's that the cme is yearning for. * committee [speaker not understood] he was 18 years old. he was a student at city college at skyline. he what also someone who worked with the mayor's youth employment program. and this is his graduation speech i want to read to everyone here. it's small so i might have difficulty reading it. greetings to my fellow coworkers and future leaders. over the course of the summer youth employment program i have learned elements of leadership, facilitation and personal growth. for a few weeks i was extended the opportunity to be shift supervisor where i led my fellow staff every day by arriving early, assessing the work to be done, and assigning tasks to my staff. thises wasn't always easy, but with perseverance we worked together and got the work done. 67c.103 staff member was given work plan at the beginning of the program where it outlined the expectations and gold for the summer. * our staff completed such things as college registration, job applications, resume building, site visits and other work experience related goals. * each these two mo

let's get to the cme with the santelli exchange.e fed's take i don't ever of the gse government sponsored enterprises. government sponsored zombies and going into our fifth year, there are finally some rumblings, finally, of maybe trying to address this problem that's racking up tens if not hundreds of billions of liabilities for taxpayers. although, to be fair, even though it is our fifth year that they basically have been under the thumb of the government and under the wallet of taxpayers, they're actually generating a little bit of profit that is a good thing. we are big fans of ed demarco, a lot of my circle. the head of the regulator for the gses has been put under pressure to just, you know, it's easy. make that the crony capital warehouse and just do it. but we need privatization. we need truly risk based pricing in the mortgage market. you know, we had a dictator die in the form of hugo chavez and i'll tell you what, crony, the word crony has come up a lot. we need to get rid of the crony stuff that came up after the communi

let's bring in the traders, the cme group and the nymex. what you see is we lost another 10 points or so, now down 77, is it that, or a bailout that is moving the markets now? >> this morning there was a lot of conversation about the fallout of this deal, a good temporary fix, the question is will this be able to happen anywhere else? i think that is something people have yet to figure out. we still have to see what the fallout will be, but that was weighing on the market a little bit this morning. a lot of people are away. very strong dollar this morning. liz: we are showing that right now, $1.28 and change, the euro is really getting hammered now. you are in chicago looking at the response whether this commodities or anything else, but at the moment the uk pound and the euro down against the u.s. dollar. the dollar will continue to be what it is against the yen, so what do you make of all of this? >> the euro is really taking a pounding, but on the other hand the other indicators aren't really moving. we are not seeing anything that leads

jeff flock has more details for us from the cme. hey jeff.ave to actually hear me or i am useless. nicole petallides is a completely different story. world agriculture supply and demand. you can see the traders right now. take a look. we will see a real dichotomy in this market. still trading almost seven dollars. that is a tremendous price for corn. take a look at the december corn. it reflects the coming harvest. a huge spread right there. take a look at the december corn chart. use the kind of where those numbers started falling off. this report will be focused on what is around right now. listen to this, and order just came into the market. this is soybeans, by the way. we will get a lot of activity right at the top of the hour. i will be standing by here live. we will see what the supplies are like. it is a real dichotomy in this market right now. dagen: you should warm up. good luck shouting over those traders. i am sure you can holler with the best of us. jeff: i will do my best. i hope i do not buy anything by accident. dagen: thank y

new york stock exchange, cme, and nymex, a good catholic girl. >> i'm actually not. my husband is. liz: what are you? >> some of this rebellion. liz: okay. a jew, an episcopalian. a good catholic. all right. so the stock quickly about the markets. we could very well see a record. >> well, i'll tell you, described as the most cautious i have seen yet this year. i think people are very, very leery of the levels we are right now. i mean, great retail sales. we had some chatter yesterday about consumers actually starting to save more and really pulling in the reins. that did not seem to be affecting the number stake. i think people are a little bit confused as to what to do it this point. volumes are very low. transportation is great. other than that think we had -- the white smoke was the biggest news of the day so far. liz: charlie, i think that a lot of traders, you tell me what it was like when the white smoke came out. did people stop trading? >> it was already kind of a quiet day. that definitely was the focus of attention. i left my office. people are out there watching. again,

jeff is at the cme. you ready to go? >> let's do it. guess what? they have a buy on the stock.er what they say. in our opinion, the risk reward profile is attractive. jc penney has had it. >> it's a bold call. a trainer's dream. they really focus on the cash position. in the event they have an arm gadden situation. they see $11 million. but this is a story about ron johnson. he is a walking timex commercial. >> let's move on. upgrading. coca-cola saying that head winds are priced in. let's take a look at how the stock has been doing. it has been flat, pardon the pun. what do you think? >> i don't love this. i do like coca-cola. it has been lagging compared to pepsi. but look at coca-cola. it's a great story. it outfields the 30 year bond. i really like the point but i want to look at the 100 day moving average way before you have a coke and a smile. >> let's move on to jp morgan, noting that proprietary analysis. what do you think? >> i afwreechlt you are seeing this 190 times for amazon. amazing. the focus is has it gone too far too fast? look at the kindle, very ambiguous num

let's get to the floor show and bring in the traitors at the new york stock exchange cme group and theex. this whole issue here. nicole petallides cousin was just on from cyprus and she used the word chaos. she said it is positively what could happen when it comes to the banks and when they reopen. does that affect the trader sentiment on the floor? >> the obvious answer today is no. but i guess it just depends on what lens you want to look at what is going on in the euro zone, liz. from afar, it is very disturbing. basically confiscate should have private property sends her horrc resonance. i think this is a very negative effect, but the market is completely ignoring it today. liz: puts charlie, the fear is very real. it is not warming is wimpy psychology on the trading floor, the vix is actually lower today. what do they do the same thing in italy, although no word that would actually happen. would that be the trigger that happens to affect things here? >> have the same concerns he does, so this happening in italy or france, that would give a lot more reaction to the market. we're re

we're heading to the trading pits of the cme to find out next. melissa: over half the country is paying less for gas than they did this time last year. tom kloza on why he thinks the trend will continue. that's ahead. look at some of today's winners and losers here as we head out to break. we'll be right back lori: oil prices falling below the $90 a barrel mark as the latest inventory numbers show crude supplies rose more than expected. fox business contributor phil flynn of prize fightures group in the pits of the cme joins us. phil, how did that build happen? >> lori, we're swimming in oil, let me tell you. this is the most amount of oil we've had on supply in the end of february, maybe ever or back at least 81 years, 1931. why is that happening? let me tell you, lori, u.s. production, it is surging right now. it is surging at a time when refiners are getting ready to slow things down a bit. we saw very low crude runs last week. that is kind of to be the expected because this is the shoulder season. we're getting into the area where demand is a

live at the cme with the details.iety, but the fish type, sharks spring break tourism threatened in florida, beaches closed, thousands of sharks too close. better video coming up, and i'm headed down there next week. cheryl: bobby flay expanding the restaurant empire again. he's getting into the burger wars, but we're not talking mcdonald's people, it's bobby flay. we'll talk exclusively with him in the show. dennis: watch out, shake shack. cheryl: exactly. dennis: before we go to break, let's look at what we do every time at this time. let's look at oil. i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of tenls choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk in

we're live from the cme next. the real winner of the ncaa basketball tournament be cable television? that story is coming up. first look at some of today's winners and losers on the s&p 500. as the dow trying to regain a lot of losses from earlier in the session. we'll be right back. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if y open up a charge card account with u >> you just read my mind. >> announcer: just one little piece of information and they can open bogus account stealingour credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, >> i didn't know how serious identity theftas until i lost my credit and eventua

liz: the s&p futures are closing right now, let's go back to todd in the pits of the cme. >> they close little bit soft, i would look for tomorrow to see the action pretty much on both sides of unchanged. tomorrow will be totally focused looking for friday's job number but it is a little bit soft and we close near the lows of the afternoon. liz: all right, we will see what happens tomorrow. that is interesting movement, we will watch it closely. david: shares of johnson controls rallied today. nicole petallides o on the floor the new york stock exchange, why the rally? nicole: talk about auto parts and the like, are they selling, today retained jpmorgan to help them with this or not? this is one of the reasons why we saw this stock jump in this fashion move into this annual high they had retained jpmorgan in order to sell their automotive segment. there was a pr wire that came out afterwards they actually disputed that fact and noted they issued this statement, contrary to a wire service story released earlier today, johnson controls did not retain jpmorgan. and it has no current intent

when you are down at the cme, what happened is on a day like that, is it specifically a silver story or do you look at all the consolidation happening? >> the take away from this is that it is all about cost. you look at gold, you look at silver, these companies have to get smart about how they do business. from our opinion as traitors, these guys need to make their profits work, as prices of commodities go down, it is a good thing for these companies, good thing for consolidation and frankly i believe commodities will continue to actually move a little bit lower here. crude oil, i'm not so sure about. in the equities market i am watching the russell 2000. if we will see the s&p support, the russell 2000 has to lead us forward. liz: it is actually lagging as far as percentages, just a fraction of a percent unlike everybody else. i want to mention to our viewers, we have the ceo john smith coming up, we will be asking about that, perfect timing to have this guy. where do you see the activity going and as an investor, that's something you say to look at the potential target? >> giving

have a great weekend. >>> let's get to the cme this morning, check in with rick santelli.elli exchange" for a thursday. >> hi, carl! well, you know baseball. baseball players hit 5 out of 10 or 50 out of 100, they're batting .500. obviously that's unbelievably terrific. in baseball if you're doing 3 for 10 you're doing pretty well at .300. but i have to admit, d.c., washington, batting .666. first time since '09 the house passed a budget. granted, you could take a fleet of trucks and fit them in between the budgets. but they fully expect based on the announcements the budget will be forthcoming at some point. the is this, you know it's all about debt and deficits. from my perspective, it's important. it's a weight on the economy. we want a nimble, light, adjustable, highly efficient economy. and for the most part we have one although we seem to be doing our best in terms of making it the little engine that could. but consider 2012. we added over a trillion to the national debt. i think the final numbers were close to 1.25 trillion. so that means for 2013 servicing the debt

phil flynn with the price futures group at the pits of the cme, a big day for natural gas? phil: it is. i was lucky enough to hit the number right on the head. 146. that doesn't happen very often, so i was very lucky. but that was a much smaller withdrawal than expected. causing a jump in the natural gas prices. basically because it was a lot colder in certain areas than a lot of people thought especially out east. the other story today, look at oil and the price of gasoline, they are going in different directions, that is really, really good news. that is a sign we will see gasoline prices continue to fall. a lot of that happens to do with the reversal of the brent spread. they should fall at your pump, and that is good news. back to you. dennis: phil flynn, thank you very much. oil had been very weak, i don't know what oi why oil wants to r. why does it keep going down? phil: i think it is a little bit technical. prices have fallen pretty significantly in a short amount of time. $97 per barrel, concerned about outages and what is happening in europe, now we are back down

we'll talk about market levels on the cme when we're back. >>> avie is seeking an injunction to keepopean regulators from releasing information about its drem premeria. abbvie sought information on clinical trials following information for its secrecy. sales reps were up 17% last year to just over $9 billion. and shares of abbvie up about 0.5% in frankfurt trade this morning. >>> twinkies may have a longer shelf life for investors. hostess brands creditor silver point capital are interested in buying the company's snack cake brands, including, yes, the tube like pound cake with the dream filling. it could still by by others. and mexico's group may make an offer for twinkies. >>> here is a look at what's on the agenda today in the u.s. no economic data, but reports this week on inflation and industrial production and consumer sentiment. we'll get a pair of retailers turning in results today, dick's sporting goods and urban outfitters. china's yum brands same-store sales will be reported. i believe they said they would keep reporting them until after that turn around about what was in