doug cass helps make sense of all of it, and, of course, it's some tuesday. voters in 11 states are determining who will be the republican nominee. but, first up, the polls have just closed in three states. nbc news has declared newt gingrich the projected winner in georgia. nbc news is also declaring the vermont primary as too early to call, and in virginia nbc news also says the race is too early to call. let's break down the numbers. cnbc's amman javers with all the details. good evening. >> good evening, larry. we are looking at a race across the board here. newt gingrich winning in georgia. that is a big deal for newt gingrich in his home state, of course. the question is going into tonight will it be enough for newt gingrich to continue on in this race? one of the things we want to be watching for here as the evening unfolds is whether or not mitt romney can seal the deal tonight. a lot at stake here for mitt romney going into all of these states across the country. romney really looking for a big win tonight. whether or not he can seal the deal across

doug cass is bringing his shopping list exclusively to "fast." let's get straight to the market selloff that we've seen over the past couple of sessions. are china concerns enough to push stocks meaningfully lower from here. pete? >> yeah. i think that we're definitely due for a correction. looking for 1375. we talked about that last thursday. i think that the s&p 500 goes there. 2% correction is what you're looking for. do people know that china has slowed, yes. do people know europe is slowing. maybe not as much as they did before we started the evening or at least coming into the opening session, and i think the bigger surprise would be going forward, what the u.s. consumption growth really looks like with oil up here. there's never been a time in u.s. history where the u.s. consumer has not slowed on a real inflation-adjusted basis with the price of oil at this level. >> real surprise is that we led the show with stevie ray vaughn. i mean, that was great, didn't you think? >> surprising in what way, because you suggested that. >> because we c

if you want an interesting call, i think the doug cass e-mail that came in earlier this morning, thatow when you acknowledge this is the moment and that's what happened with the microsoft, that maybe we're coming to a top on this whole situation. >> harold, if you're on the board of apple and had to think about what to do here, you've obviously had the experience now working in the investment business, being in politics, what's the right decision for this company and their cash? >> they need to find the best way to deploy it. a dividend payment probably makes sense. i'd agree with andrew to an extent that they have to be careful with how the market will view -- obviously steve jobs his passing, cook trying to run the place in a way that inspires confidence, i would err on the side of taking care of investors. >> that's been the deal all along. people have been saying it makes sense to doing this, why aren't you doing this? steve jobs was against it. people for years have been saying this makes sense but the timing of it, doing it now, how people are going to interpret it, et cetera. >

basically agree, i mean, i'm an economic optimist right now, but i'm seeing people like my friend doug cass. the isms were soft and personal spending was soft, even though car sales were strong. do you see glitches in that whole economic argument that might upset the stock market apple cart? >> you know that i'm always very cautious, and even now when i say i'm long, i'm mostly long cheap call premium because i don't want to be totally exposed on the down side. yeah, there's been a couple of things that have worried me, particularly that ism number worried me a little bit, but the employment numbers improving is what i think is the best indicator that things -- we're on more solid ground than we had been before. i'll keep watching, you know, for the instance of those anything negative numbers as well. >> we'll leave it there. dan greenhouse, thank you very much. jim, likewise. appreciate you coming on friday night. breaking news coming into cnbc. multiple tornadoes are touching down in indiana as we speak right now. a high school has taken a direct hit. we get the latest details right after

. >> professor, doug cass wrote a little column called "a question for professor siegel" and yet is thisanimal spirits driving valuation back to historical levels which would be a difficult feat given economic and geo political economics in terms of the head winds of our country's fiscal imbalances? >> that's a good point. let me tell you why my answer is yes. we are below that long-term historical means. i think what's very important and that will give us the boost is the low interest rate. 15 is the long run pe ratio over all time but when you take if interest rates are not a double division, the average is actually 18 or 19. so we are really well below to low-to-moderate interest rate pe module. we can get to 15 or 16 even with the head winds in froont of us and still be below the ofaverag. the comparison is favorable. lowest relative to what's available in fixed income and bonds, we are almost now at an all-time high spread. >> do you care who gets elected? do you care if capital gains and dividend taxes go up? do you care if mashrginal rateso up? do you care if we don't make our cor

doug cass was on kudlow last night and said greece was not the issue.g at some of the technical issues, some of the job issues, some of the political issues going on during the election. and he is saying greece is the least of it. >> no, i think greece is definitely in the mix. we're looking theatpsi, the participation rate in the private sector. if that number isn't high enough, the troica, the eu, the imf may scrap the bailout for greece because they need to be confident that greece can hit some of their long-term deficit reduction target and without private sector participation on a broad-based level there may be questions there. ultimately we think they get the deal done but there's going to be a lot of nail biting over the next 24 hours. and there's a very good chance that we could see cds triggers and some substantial global volatility to come. so we think it will work out favorably tomorrow, but i wouldn't be quite as complacent as it sound like others are being. >> okay. so just play the technicals for me. given greece on the table, given the jo