. >> intoed eem is in kiev. tell us what the conversation reveals. >> to put it in context katherine ashton asked estonia's minister several days after the killings, and he says dr owlinga, involved with the -- olga, involved with the treatment of wounded protesters told him that she believed that the same people, the same spipers, if you will, were killing the protesters and members of the security forces. then he goes on to interpret that as proof or feeding into a belief that people linked to the interim government, then the opposition were involved, and she, of course, doesn't really react in any great manner. just to say the estonian government confirmed the authenticity of the recording, and katherine ashton has not commend so far. that's where we are at the moment. >> what is the reaction to this then, in kiev. >> well, firstly i should say that it's not the first time that people have talked about the possibility of the same sniper killing people on either side - politicians and the current interior mini

eem has particular started to roll over. i'm going to follow the weakness. >> dan, just to be clear, if you were an owner of em already. >> if you're an owner of u.s. stocks. >> why not buy protection on the s&p 500 if it's so cheap? >> you can do that. you'll get the most bang for your buck from outside. to me, i think this is a pretty cheap way to kind of offset some domestic risk here. got a question, send us a tweet. >>> scott has a clever trade on the triple q. here's what's coming up next -- >> is tim cooking up a deal. >> it's a market that we have intense interest in. >> we'll tell you how apple could be on the verge of making a big move. >>> plus, what $5 stock traders see doubling. >> please tell me. please tell me. >> we will, john, when "options action" returns. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platfo

with the eem, you get china, russia, brazil.'t have to worry about the russian market-looking week. >> you're going to let him do that? >> i'll say what i want to say. >> i'm not stepping in right yet. i don't think we have resolution. and i disagree with dennis a little bit. i do not think the crimea is going to -- >> you're still short here? >> i'm short germany. but i'm long russia. i'm playing some things got overold. i don't think eem is oversold yet. >> mike warner follows the country's banks. he's in town from hong kong. joining us here at the nasdaq market site. your latest note points out, interestingly, i did not know this. the chinese banking system has more capital, excess capital. but risk-weighted assets are not reflected accurately. when the dust settles, where does that leave the system? >> how many of the assets are going to come back on? it harksens back to the citigroup. how they took the hedge fund assets back on the balance sheet. some of the assets that's been credited, has been going to come back on the ba

eem sold off 18.5% from the highs in may to the lows in june. it's been in the downtrend since then. i think you can press eem. i think you see new lows in the next month. >> guy? >> i think tim was kind in his language. i think the fed is winging it. but i don't think that's necessarily important. look at the way citibank reacted today. it started trading around 55. got down to 47. traded off again. but up almost 2% today. i think citi sets up really well. especially if the curve is going to start to go in favor of a name like citi, i think the risk/reward for citi, for the first time in a long time, sets up really well. especially on a day like today, up 2%. i think it's telling you something. >> citi and bank of america, in particular. the banks that will make money off the bond market. >> that's what mayo was saying at the desk. if you look at the taper tantrum in may/june, gold goes to 1,200. you have key levels to watch on gold. as far as e.m., you have 20-straight weeks in e.m. fund flows. you have a place where it traded in a predictable

bob pisani, you're looking at eem?hat's interesting is what a roller coaster it was for everybody. we started out at the beginning of the year sell emerging markets and buy the growth names in the united states. bottom line the eem, take a look over here, we sold right into it. look how dramatically it moved into the downside. we've been up eight days in a row. we are now at essentially highs for the year in the eem. we had given this up for dead. they were concerned about china's growth slowing down. now there's still concerns but the chinese are talking about some kind of stimulus. that's helping the overall market. elsewhere, what a roller coaster. consumer discretionary started strong. they sold off because the retailers did lousy -- brought down the numbers. >> whether it was weather related or not. >> health care, including biotech, led the way with pharmaceuticals. then a little sell-off. i think it's all very good news. i love to see this kind of rotation in the market. it gives us a lot of things to talk about

. >> don't buy the eem? >> no. you also are looking towards the bank of japan potentially weakening the yen further. that's not good for those emerging market currencies. >> as people take money out of the u.s. markets and seeing some selling, i think they will look for undervalued or to perceived undervalued areas. i think that's why you're seeing flow coming into eem right now. ewz had a great move in brazil. >>> we're going to go live to the nyse for bubble watching. and then is lululemon too high to buy? we have a bull and a bear battling it out on that stock. and the battle of the blue grasses tonight. louisville versus kentucky. we're going to talk all things march mad witness the commissioner of the aac. much more "half" is straight ahead. >>> it is time for trader blitz. four trades on four stocks making news today. first up, blackberry falling despite posting a smaller than expected quarterly loss. cramer says they have a ton of money. buy it, no? going under, no. what do you do? >> i couldn't agree more.

you sell the eem at 40. and sell on the upside at 41. and wait to get back in this trade.ike the last nine months, when you look at the spread, this is starting to turn. emerging is starting to outperform the s&p 500 in the last few days. you watch that part of the spread and reload lower. >> not worried about the s&p downgrade of brazil? >> brazil rallied. they priced this in. i'm worried about the strength in the real. it had a big really in the last couple of days. elections are a big deal. we're pricing that in again. they rallied on the downgrade. and they give an outlook stable. >> and we learned from experience, that in emerging markets, if there's a default or downgrade or the crisis, it's a buying opportunity. >> brazil is interesting here. >>> coming up, the massive trade that spooked the markets today. >>> and the company that acts as your personal health and wellness assistant, all from the comfort of your smartphone. there's an app for that. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t.

we have been coming back, seven days in a row the eem is moving to the upside. we are almost where we were back at the start of the year. one thing that's the opposite of that was the gold stocks. remember they had a miserable year last year but they started very, very strong. look at this. recently, they have been coming off of their highs. they are up today but the trend definitely is to the down side. let me move on, talk about speaking to the down side. once again today, biotech stocks, all the big names that everybody knows, gilead, biogen, most of these stocks down by double digits. i will give you an update on the ipo market in just a few minutes. >> stay with us. bob, if you think this market is going lower, how can you short the market, especially after noted investor jay jordan called for a 25% drop in stocks. ron wrote an article on cnbc.com this morning saying quote, this could be a short opportunity. he is back with ty. but you are not calling for a crash. i read the article. you are not looking for that. you think there may be opportunities here. >

pete pointed out yesterday they were large sellers of eem puts. about yesterday related to russia. think about in 2014, what's been the problem asset class. emerging market. wouldn't yesterday be the day to resume that downtrend and yet sellers of puts. that tells you to folks believe the trough might be empty. >> and the meet reaction of that rsx. i know that's energy represented but pewe're talking about russi here. if you look at that and the sellers of the calls it's amazing, the financials have been really starting to move to the upside. well, the calls on the vix. when the financials on the other side, they are really starting to move the upside. starting to break out. and very close to the highs. jpmorgan, some of these names are well off the highs. and yet you're seeing the financials move up. >> citigroup in that, down from 55 all of the way down to 47. that gave you opportunity. yesterday the sell-off was probably a little bit overdone. today's rally may be a little bit moredone, too. net basically flat up. >> josh brown, russell and the

mature --eem for chair members men and this and corker would get easy passage. on thursday, secretary of state john kerry is supposed to be making his regularly scheduled appearance to review the state department budget and the foreign aid budget with the state and foreign operations appropriations subcommittee which is chaired by patrick leahy of vermont. --re is a kerry citing i wouldn't be surprised if that veered off topic into news of the day. we have been talking >> again the house returns tomorrow for short speeches at noon eastern. the senate begins their day at 4:00 eastern today with a vote on the final passage of legislation involving sexual assault in the military. an all-night session on climate change gets underway. you can watch the senate live on our companion network c-span2. young up, we will bring comment from senator bob casey. he is expected to comment on the afghan security agreements and next month's presidential election. right now though, a discussion on the recent jobs report and anti-poverty initiative supported by both parties. from t

california's statesman and feel eem cousteau we'll be right back. >> could e-cigarettes be forcing adolescents to smoke? are they a gateway to the real thing or is it that more smokers are trying the electronic version to quit or out of curiosity. we are joined by lauren, a researcher at the center, for tobacco research. she is one of two researchers. the media reaction is varied. some claim that the study shows that egrets are a gate way to real cigarettes, is that misreported or are you confident this smoking e-cigarettes is leading adolescents to smoking real cigarettes? >> it's tricky, as we said many times, this is cross sectional data. i can't tell you that it is causing kids to smoke. it's possible that it is a gate way. that's left to be demed. we saw the kids using e-cigarettes if more likely to be tobacco smokers. we saw that this doubled among teens. studies showed the total number of teens was declining, if e-cigarettes is growing in leaps and bounds. shouldn't we see an increase in smoking. >> that is something we might see in the future. e-cigarettes have only been popular in the

. >> well, we speak to intoed eem joining us from kiev. secretary of state john kerry left kiev for a meeting in paris. during his visit he had tough words for russia, saying they were basically looking excuse to invade ukraine further. >> absolutely. he was very highly critical of russia's actions in crimea over the last few days. while he was in kiev he paid tribute to the scores of protesters who died in february, laying flowers at a shrine as the supporters of the current government would have it. he, of course, represents a government which talked about sanctions already on russia, where as their european allies had been cautious so far in what steps they might take if the military situation escalates. in the last few hours, the french foreign minister suggested if there's not a deescalation that eu leaders could vote on sanctions and carry themselves and sounded optimistic and conciliatory towards russia on solving the standoff. >> it is diplomacy and respect for sovereignty, not unilateral force that could best solve disputes like t

inciting against the gulf states, saudi arabia, and undermining those rage eels and operating -- rage eems and they are operating against israel. the fact that the issues were being tied is true substantively, but in terms of policies, it's not the same thing. the fact that iran supports the terror organizations is something we'll have to live with for a long time. their nuclear ambitions, it's a different story. >> alon pinkas, good to have you on the program. >> thank you. >>> there's good news for catholics that want to live together but not get married. pope francis, speaking in a newspaper, suggested the catholic church could tolerate some nonmarital civil unions, describing it as a practical way to guarantee property rites and health care. >>> it was a year ago today that venezuela president hugo chavez died of cancer. the government there kicked off a 10 day commemoration. chavez's successor is facing a country in turmoil. food is scarce, inflation, crime, coming - despite the scarcities, venezuela is a country rich in resources. the u.s. imports a lot of oil. it plays an important

the eem, which is the etf that track tracks the emerges markets, all of benefiting.he s&p 500 broke through resistant which becomes near term support and has remained above those levels fairly steadily. it looks pretty solid for a positive close, which would be the dow's first up closes in six sessions. goode, we are talking about it earlier, it is going to be on track for the best quarter for gold in 27 years. >> really? >> so you can see -- >> that's a great stat. >> so you can see the obvious concerns about what's happening geopolitically has benefited gold over the last quarter, but it's been a strong one for it. >> thanks, mary. >>> ty, up to you. >> thank you very much, sue. >>> meet a man who measures uncertainty. he has very interesting information to share on confidence of the business elite in america, which is of course his business. >>> dominic chu on a big bellwether investor. >> i'm looking at the materials sector and materials etfs. this area is very telling for a lot of different reasons. see what the numbers are say about the stocks. that's coming up

. >> it's been pointed out on the desk here that the eem is up 4%, or emerging markets are up 4% justday. i know there's a lot of risk there. at least there's perceived risk and and it's been sensitive to the fed's movement and everything going on around the world. why isn't now the time? >> again, if you take the position that on average market s do a pretty good job pricing risk. when you look at the u.s. market it's up roughly 75% in the last four years. with emerging markets having barely moved at all. that's a 75% difference between u.s. stocks in emerging markets. the price to book ratios in emerging markets are very low as compared to the u.s., if you look at the aggregate country level price to book ratios. i think the reality is if you take the position that emerging markets are an important part of the world, important part of the economy, important part of your portfolio, now would be a good time to have your positions built in emerging markets, probably better returns to be expected from here over the next decade than from a few years ago when everybody wanted them so desp

eem is my way of hedging instead.>> and i don't think she'll surprise anybody except that she'll be very direct about what she says. >> see what she does did the threshold, right in the unemployment threshold. if that moves from 6 1/2 down to 6 maybe taken as a bullish sign in the market. let's do our final trades quickly. doc, what do you like? >> rdc. i bought it today. >> pete. >> hewlett-packard going higher. >> wendy's. wen. >> that's it for us. have a great rest of the day. and "power" starts now. >>> good afternoon and welcome to washington, everybody. it is an historic day. one hour to go until the fed's decision. the first decision under janet yellen. 90 minutes to go until janet yellen holds her first press conference as the new chair of the federal reserve. i'm tyler mathisen here on a bad hair day in washington, sue, but it is a historic day. >> oh, you look great. and it is a historic day. i'm sue herera here at the new

. >>> very quickly, let's take a look at the eem. it's at its highest level so far this year. a huge amount. only about 1% today, but it is in a decelerating market today. we are seeing long em, short tech, exactly the opposite of the beginning of the year. >> yep. there it is. thank you so much for watching "street signs." have a good weekend. >> "closing bell" is next. join me again in two hours. >>> hi everybody and welcome to the "closing bell" on this friday. i'm kelly evans here at the new york stock exchange. we've gone to well off to gainsville. in fact, the nasdaq flirting with potential lly turning negative here. >> it's great to have you back. >> i'm sorry to be so tall. >> she's

but it sure has been working because as the eem starts to fail and it's definitely struggled year to date, when you look at that, it really has -- it going right back to the u.s. is the best house in any neighborhood right now. >> paul richards, what kind of flows are you seeing with big investors? >> number one microtopic is china right now. recent data really upset them. you saw the s&p reaction yesterday. i think they're over reacting a touch. you hit 7 1/2% gdp in china this year. that's going to take a while to find out. i think the government is committed to getting it. >> bond default for the first time we've seen in china. you've seen stories circulating from doug katz flagging this yesterday, cutting lending to industrial companies. there's a lot happen that we need to keep an eye on. >> there is. a lot of deregulation. scott, this is a major change the economy is going through. it's a question on whether you trust them to know what they're doing. i think they do know what they're doing. every time you see another bad head like you wonder. in this market it's so critical to

the eem is up eight days in a row right now. china, brazil have recovered a little. that's a new high for the year. we were saying this was dead three weeks ago. new high for the year. how about all the momentum and growth names that started out january as the big market leaders here. they are to the downside right now but they have been replaced by consumer stocks. so what's moving here is the growth names that people are paying a lot of money for. in the last couple weeks, they're being replaced by more let's call them value-oriented names, cheaper names. kroeger, pepsi, general mills. who would have thought that was going on even two weeks ago. i think it's a healthy sign. >> we needed some rotation. >> maybe we get growth in the economy. these stocks are the ones you want to own right now. they are the cheaper ones. >> see you again in just a couple minutes. ty? >>> new fed chair janet yellen getting wall street's attention again today with a speech described as quote, very dovish. our senior economics reporter steve liesman here with the details and the reaction

the best-known client is derek jeter of the yankees, but he .eems to have plenty equity futures are pointingso we look like we are bouncing back today. we're on the market again in 30 minutes. likes up, why he microsoft to buy this for his grandkids. is his the country that main focus right now? we will tell you in a moment. he is a famous contrarian investor. tesla in a deal with the state of new york to keep it here. and even had a few more. you're watching live on bloomberg television, streaming on your tablet, and bloomberg.com. ♪ >> we are 30 minutes away from the opening bell. you are "in the loop." i'm betty liu. investors are waiting to hear from pitcher janet yellen, giving a speech in chicago an hour from now. features indicating stocks open higher. the s&p was down for two days and away -- in a row before bouncing back. gm ceo mary barra has plenty of tough questions tomorrow from the hill. document showed gm rejected a proposed fix to the faulty switches because of the cost. she will be grilled by those congressional lawmakers. as thes making headlines electric car maker looks to

eems to be areas like west london. this apartment is worth nearly 9 million pounds.heoking at stunning features, the artwork, the crystal that we see and we will be speaking to have guests here to talk about where the money is coming from and whether the property market is fearful of money coming in or going out of london property. >> good questions. don't start the question of north versus west london here in the studio. it'll only end in tears. >> south of west london. that's my answer. southwest. as russia faces board sanctions, ukraine seeks to complete its bailout talks with the international monetary fund. for look at how these developments are affecting currency markets, we are joined by phyllis. proven to be a haven amidst tensions between russia and the west during this ukraine crisis. how long will that remain the case? >> very interesting question. it is not clear. we are having indications that some of the outflows from emerging markets in general is benefiting european equities. we are seeing that in the flow data. the key point for the euro is that we a

investigator to get your arms around the fact that, you know, what we think is factual information steams eemsly, if not hourly, basis. >> one consistency, it seems to be the case that this plane's transponder was turned off. is it true someone else most likely would have? >> typically there is never a reason to turn off the transponder. you may have to recycle, it but there is no normal operating parameter you would ever turn off the transponder. it's evident that with the transponders going down and the a car system, the data system, there was human intervention. somebody had to physically have turned those off. >> so let's take that there was human intervention here, something happened in the skies. is there any plausible way in which this plane could have dropped out of the sky and not see debris on the ocean's surface or have it turn up on la land? >> -- even a controlled ditch, you're going to do damage to the airplane. there would definitely be physical evidence from the aircraft itself, especially if it broke up during the impact sequence. somebody would find it. the question is where

look at the reaction there in the eem versus the spy and kind of the sell-off we saw there in emergingkets. also something a lot of folks are watching, particularly the financial advisers i talk to are always like diversify and put that in there and now we're looking -- >> sara, there's plenty of things that are happening and especially before anything happened with the fed this afternoon, there was a lot of talk about the situation in china and how serious it might be and just how much the currency there might devalue and what that could do to a lot of trades and a lot of the way the system is structured, cause some spillover effect, et cetera. would you, looking at the action today, attribute this to everything that the fed has told us, has done in its statement, has come out of that press conference from janet yellen? >> if you look at the interpretation of janet yellen, it's clear that higher interest rates are on the table. whether they're coming anytime soon or not, whether there's been any change or not, it was always viewed as something very, very, very far away. if you look at

you see a handful of eem trades, a handful of xfi, a handful of other things. however, it's not this consistent downside put protection you're seeing being bought. it's something relatively muted from our side. >> greg ip, mario draghi about an hour ago making comments that sent the euro lower. that seems to push our market lower in the last hour. what do you make of comments they're making over there where the german market has been suffering? >> the european central bank, of all the folks who matter on this story, seem least worried about the low inflation trend that's been going on in europe. so one of the reasons the euro has been so strong is perception that the europeans are not going to ease into this disinflationary trend. the selloff in commodities we've seen over the last day or two is just going to muddy the picture fur further. it's going to continue to give us this tension between low inflation and a central bank in europe and united states that doesn't seem to worried about it. >> ron, if you wanted to take china as a case in point, you can paint

mature --eem for chair members men and this and corker would get easy passage. on thursday, secretary of state john kerry is supposed to be making his regularly scheduled appearance to review the state department budget and the foreign aid budget with the state and foreign operations appropriations subcommittee which is chaired by patrick leahy of vermont. --re is a kerry citing i wouldn't be surprised if that veered off topic into news of the day. we have been talking with neil's less new ski who covers -- weast for roll call have been talking with niels lesniewski. house republicans rebuff the president online reset include a separate package of loans from the fund. next call comes from flint, michigan. snowden isink a traitor any more than is cheney or bush or rumsfeld. thank you. host: next call is ron. he is in deadwood, south dakota. i haven't really made up my mind if he is a traitor or a shouldut i think they let him speak. i would like to hear what he has to say. you never learn anything if you don't listen. host: ron, if you could ask edward snowden on

of course, the russian market down for four straight weeks and the eem. we put that up there.y are stronger, as well, today. leading the sectors here today, i mentioned i.t. industrial also strong. industrial production numbers very good for the month of february. nice rebound from january's numbers. so this is one of the stronger performing sectors today. capacity utilization inching up, as well. so, again, the dow up 133 points, but certainly off the best levels of the day. baaing to you. >> thank you very much, mary thompson there. >>> could new york follow in its neighbors' footsteps? autodealers pressing lawmakers to ban the direct sale of tesla cars. a move that if it's successful here would make new york the sixth state to put the brakes on elan musk's emerging car company. good morning. >> hi, how are you? >> where do you stand on this? >> i believe in the franchise laws. they help product us as a dealer group. our investment that we have a lot of money invested in our facilities and infrastructure. and the franchise laws not only protect us but also protect manufactur

aided and abetted by their colleagues on the other side of the aisle from across the country can't eem to -- can't seem to adjust their actions, their legislative actions to suit the people that they represent. now, this savannah river port dredging is very important to georgia's economy. it is the most important economic development project on the table, and it's ready to , but because the tea party the bond between these legislators and the big bad tea party has them afraid to do what's in the best interest of their states and that's a shame. having said that, i will now yield to sheila jackson lee, my colleague from texas, for five minutes. the chair: the gentlelady from texas is recognized for five minutes. ms. jackson lee: let me thank the manager, my friend, congressman johnson, and mr. marino, all of them, our colleagues on the floor of the house and as well as on the judiciary committee. i rise to accept the fact that there are opportunities for discussion on streamlining and effectively expediting in a collaborative way processees in the federal government to continue to move

that's the eem. xxd, that's the semiconductor etf that's a market leader.he last few days that's up and the gold miner, gdx, the last one, that's an etf as well, another market leader doing well so far today here. it's very interesting to see the ipo rush generating lots of sarcasm. you were talking about box, mark cuban had an interesting comment as soon as the box terms were announced mr. cuban came out and said i wish box the best but i would combust if eight years in i was responsible for $169 million losses less revenues and he's referring to the fact that they reported $168 million in losses and, of course, they're doing that because they spent an awful lot of money to get new customers. there are plenty of start-ups that have been doing it for years and years, you were talking about workday, they did it for the longest time and the argument was we have to spend money because we get new customers and the subscriptions stay with us for many years. that's been the argument for years for companies, workday, salesforce, they spend aggressively. people hav

the frontier countries because there was a big debate about it should people get outside of the old eemsem are up rather noticeably. so far the advocates of going out and buying frontier countries over the old emergeing markets like china and brazil so far they are winning the argue. the chinese stock market down another 1% there's big concerns that a major chinese solar company may not be able to make a big payment on one of its bonds and maybe a default. it hasn't happened yet. that's raising concerns about credit risk in china. this would actually be the first default of a mainland chinese bond if it actually happens, there's a lot of concern right now on china. keep your eye on that one. elsewhere i was telling you a couple days ago about commodity efts. the dba has had five times normal volume yesterday. agricultural etfs sugar, cattle, corn soybeans. "journal" had an article on this this morning drought in brazil is causing agricultural prices to rise. this etf up 16% so far this year. the coffee etf, yes, there is a coffee etf he said jo is the symbol there you can buy that as wel