. >> we met officer epperson at the kern valley state prison in california. armed only with pepper spray and a baton, he's the lone officer responsible for supervising the inmate kitchen staff. >> i have six, seven inmates back here now. i've got one sitting on the line. granted, i got four, five cops outside that door. that door's locked. there's only one dude out there with the key. you have to trust them to a certain extent. they have no reason to assault me. unless they're totally pissed off or i disrespect them. >> among the inmates epperson places his trust in is the number two cook, carter hill. >> tell me what your sentence is. >> murder. >> you're here for murder? what's your sentence? >> 51 to life. >> you know, it's interesting. sometimes there's this dynamic in prison when you're interviewing somebody, if there's a corrections officer and an inmate together, they'll pretty much watch their ps and qs. they'll tell you into the camera what the other guy wants to hear. but when we met carter hill, we got some real brutal honesty that day in the kitch

sharon epperson live at nymex. sharon? >> no commodity more than oil, tyler. looking at wti oil futures are down about 4% below $85 a barrel. approaching the lowest levels that we've seen since july. we're looking at a sell-off across the board on the energy complex. gasoline futures at session lows right now. we are looking at prices that are anticipated to fall at the pump at least nationally despite the problems we continue to have here on the east coast. we could see prices below where they were a year ago for the national average by thanksgiving according to opus. gold holding up relatively well but still lower and the only bright side in the commodities market, wheat and corn due to production issues in argentina and australia. back to you. >> thank you, sharon epperson. >>> joining me know, kenny polkari. yesterday i asked you whether you would buy into the rally. you said absolutely not. nice call. we're down 283 points. what's the most important aspect to the market sell-off today? >> i think it is just the realization now that the election is over. t

sharon epperson is at the nymex. >> gold prices are steady at the close. right around $1,715 an ounce. this is after declining over the last several days on some demand worries. in fact, we are looking at a weekly decline for gold down more than $20 from the high in the week. the fact that gold prices have declined, a lot of it lass to do with the fact that we did get that report from the world gold council about slower demand growth particularly for the fiscal bullion and also looking for the fact that sheems to have offset any increases in the investment demand and etf action we've seen over the past several months. also looking at declines across the board in the metal sector, even after the cme group has announced they are lowering margins for gold, for silver and for copper effective as of tuesday's close. that would seem to stimulate some trading action here but we are seeing lower closes across the board. back to you. >> thank you, sharon epperson. >>> amazon's ceo jeff bezos doesn't speak to the media often but he did today. see what he's saying ab

sharon epperson is here with details. >> a little confusing, bill. we did see oil prices below $87 a barrel for the u.s. oil price for the wti contract on the announcement there would be a cease fire. then also we saw brent crude prices fall below $110 a barrel. now they're making their way back. why is that? well, traders on the floor are telling me the same thing that white house officials are saying. that is that they're very cautious about this cease fire and whether or not it will hold. that is something that has not removed the geopolitical risk premium from this marketplace. when you think about the trading activity that will happen over the next several days, the fact that the trading floor is closed tomorrow, it will be a half day on friday, that the electronic trading will be at somewhat reduced hours. there's not going the same amount of liquidity. there's not going to be the same amount of participation. that will influence the trade too, perhaps. traders don't want to take any real bets. they don't want to be short this market. we're als

. >>> tonight, we asked sharon epperson to go over this with us, it would be about personal finance >> it certainly would be, brian, and we're talking about nearly every taxpayer that will be affected. the first place you will see it is on your federal tax rate going up for middle income americans. we're talking about $2,000 a year extra that you will pay. and as the tax rate goes up, whether you have a job or are living off your 401(k) or retirement money, you will see your percentages that you pay on that income significant. we'll also see an increase on the payroll tax, so somebody making say, $50,000 a year will see 20 extra a week that they will pay, or more than a thousand on the year. and here is the big one, the alternative minimum tax. about 27 million people will be hit with this for the very first time. and this is a separate calculation that goes along with the regular tax, and you pay the higher of the two. we're talking about $3700 average for the person hit on their amt, and the investments, long-term capital gains, dividends taxed at a higher rate. that is why so many

sharon epperson tracking the action at the nymex. what's the issue, sharon? >> traders says it is more than fearso fearso fearsome friday that is taking gold prices down. the low of the session, $1,675 an ounce. that looks tonight closing price here. that fact we're seeing this sharp slide has a lot to do with the relative strength we are seeing in the dollar. after positive factory orders that we got, the jobs report also strengthening the dollar and causing a lot of trader to wonder if we really will see stimulus action taken effectively. also of course we have the election on tuesday and once that uncertainty passes, if there's still a lack of risk appeti appetite, traders say we could see much lower prices. look for $1,670, the 200-day moving average as the next key support level. >>> let's get to trader action here at the nyse as well. bob pisani joins me on the floor. >> i think sharon's got it right. two reasons people are citing for the lack of energy we have potentially today, sitting near lows. the first is a slightly political spin. that is the ext

put him on a timeline to examine him and chronological order, and we're dealing with the young to epperson who was a radical who the jefferson character has not been studied that much. as a newly minted member he made a proposal to emancipate slaves and virginia using a relative to submit the bill which it is good because he was denounced as an enemy of the country and it was this mess. but later under his own name jefferson add one that might have changed the course of history if only the country would stop the slave trade it could receiving to the enfranchisement of the slaves that we have purposely would become citizens. the summary view of the lights of america and summarily rejected. that led to him being chosen readouts to the slave trade another between south carolina and georgia would not abide by eight 1/8 structures -- structures but oddly enough france it is the key to understanding the transformation with jefferson. when we think of france we think of cummings, a french food, jefferson and french architecture, but he went on with important national business. we were desperate t

sharon epperson. coming up next, election and money as we head for the campaign finish line.own with romney's adviser. >> a gas shortage now a major issue for many areas along the northeast. is there any relief in sight? the corner of one service center located in the heart of central new jersey will join us. he ran out this morning. bob, th. they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than

sharon epperson and jean chat y chatzky, appreciate it. >>> need to get away?d's look of paint jobs that transformed a town. a town that went from drab to dazzling with a little imagination and a few paintbrushes. >> reporter: i had promised to return when the colors had transformed the landscape. when the last lingering clouds of doubt had finally given way to the vividly radiantly, brilliantly simple view that a basic change of colors could miraculously alter the fortunes of a small village. >> it was a miracle, you know. >> now everybody wants those colors. >> reporter: colors that have brightened the buildings and the prospects of centersville, new york, a rural community 50 miles south of albany. ten years ago before its multi-year do-over, tansersville was a drab and standard portrait of your over the hill country town, not an acceptable sight for eleanor patterson, a native of south africa and the most colorful residents in tannersville. how can i make such a grandiose claim? i've been to her house. let's just say that elena is drawn to color. >> clearly

back to you. >> thank you so much for that sharon epperson. just at today but next year. >> yeah. it's a slightly, i don't know, gloomier outlook on things. maybe because we're starting to realize 2013 is going to be a lot tougher. we're even on the advance decline line a fairly narrow range on trading. utilities are leading. i want to show you a couple things about what i think is happening. what the traders have been saying. long term they're looking at 2013 now. they see the fiscal cliff, whether you get it resolved or not, as still a tough year overall. we've got tax increases, spending cuts coming. no matter what happens even in a good news situation we have likely tax increases and spending cuts coming. intermediate term and short term also an issue. short term talking about today and into the weekend and into monday morning here. remember, this is the last day of the month. we'll have real headline risk over the weekend where anybody can make any statement and all of a sudden we could end up down 15 handles on monday morning at 9:00 a.m

i'm sharon epperson at the nymex. u.s. jobs data sent gold prices sharply lower, below $1,700 an ounce. the first time we've seen gold this low since september 7th. we did see a lot of stocks go under way as we got the jobs data. oil prices are slightly lower, the stronger dollar pressuring oil prices as well as several e refineries still shut here along the east coast due to hurricane sandy and gasoline futures up slightly but the national average keeps coming down, $3.50, down 8 cents from a week ago, down 28 cents in the month. back to you, carl. >> thanks so much, sharon epperson. >>> the coast guard opening the port of new york and new jersey on a restricted basis allowing the backlog of barges allowing gasoline and fuel into the area. how soon might we see in the areas affected by sandy? good morning, kate. >> reporter: good morning, carl. i just returned from the dockses behind me where dry dock work ers are hoping to get themselves ready for new ships to be repaired as early as monday. they have a waterfront view o

. >> thank you very much for that, sharon epperson. >>> just in, usa airways flight attendants authorized strike against the airline. the 6700 flight attendants want management to finish the u.s. airways america west merge we are one single contract for all flight attendants. the union says contract talks have been stalled since the merger seven years ago. the national mediation board will now look at the dispute. >>> much still ahead, including goldman sachs popping widely owned stock with an upgrade and r.i.m. shares doing something they have not done in six months >> it is a good thing. >>> plus, more on the continued housing recovery. meet a miami developer putting big money into big-time project. >>> lamborghinis. that's all we need to say. we are going to show you more of that. that's enough of a reason to come back. frank, instead of scratching your way to retirement, get on e-trade. set up a real plan. frank! oh wow, you didn't win? i wanna show you something... it's my shocked face. [ gasps ] [ male announcer ] get a retirement plan that works... at e-trade. how they'll live tomo

sharon epperson has the final trade from the new next. >> $3 on the wti contract, above $88 a barrelnd a lot of traders say the short covering came in as we started to see equities take off that kind of started the rally and then it just gained momentum, as we get through -- went through key levels, namely that $888 level that would be the recent range of prices between $88 and $93 a barrel, falling below that, now back into that territory, tlarns are looking at the breakthrough price, now at the highest levels we have seen since mid-october and breaking crude you can the 100-day moving average, technically speaking that shows a lot of momentum that maybe ahead in that market as well. but of course in this area, the folk discuss definitely on gasoline and gasoline features also very strong. we know that the philips 66 bay way refinery in new jersey will not reopen for another two to three weeks. we also know that a nor'easter is on its way. that with the supply issues this we are already facing definitely helping to support gasoline prices here. back to you. >> all right, sharon, tha

but sharon epperson is live from the nymex. what's your take on this, sharon?important to point out that even though wire a suffe'rg in this part of the country, a lot more people are feeling far less pain at gas pump. national average is down 9% in the past month. at $3.47 a gallon right now, even falling three cents just since friday. elsewhere around the country, look at the big price drop that we've seen. even in california, which had record high gas prices just back in october. now they're looking at more than a 60-cent drop in the price of gasoline. that's certainly helping the overall national average. then of course, we're looking at demand destruction after hurricane san day. that's impacting as well. across the country, whether it is oklahoma or south carolina, missouri, all seeing very sharply lower prices. that's definitely translated into what we're seeing for the national average. we're also seeing futures prices down sharply just in the past month. important to keep your eye on all the different factors that go into the energy price. brent crude

sharon epperson at the nymex. >> fiscal cliff one of the factors, adding to that a great deal of concern about global demand for crude oil and that continues to pressure prices. the big story they have been buzzing about is the international agency's report that says the u.s. will become the top oil producer in the world, surpassing saudi arabia, by 2020. now, of course, saudi arabia is the second largest exporter to the u.s. this would be a huge move. with unconventional gas and oil boom we've had in this country, that's a big reason this agency is saying the u.s. will become self-sufficient in terms of energy needs in 2035. that's got a lot of traders and analysts talking about whether that will really happen, whether the forecast will come true and whether those years are correct in their predictions. >> what does it mean if the united states becomes the world's number one oil producer? >> peter donovan says the optimism is already largely priced into the market. chris faulkner warns a lot still has to happen before this prediction by the iea can become reality. both join us. we have

sharon epperson is live at the nymex with the details. >> sue, there is in fact a major transformation that is under way in the oil and gas industry and particularly here in the u.s. and it is going to change the landscape dramatically. in just the next seven years. what the international energy agency is saying is that, of course, for many years, we have seen the concentration of the world's oil production in saudi arabia, and in fact saudi arabia is the second largest exporter to the united states of crude oil. but the iea says that the u.s. is going to overtake saudi arabia as the top oil producer in the world by 2020. then by 2035, just about two decades from now, we will see our reliance on middle eastern oil completely gone. in fact we will become completely self-sufficient in terms of our energy needs. how will this happen? what is the road to our energy independence? well, we've already seen it happening. we've already seen conventional oil and gas production start to taper off and we're getting that oil and gas from unconventional sources, from fracking. and that is increasing

sharon epperson is here with that story. >> bill, it was a stunning rally that really took some tradersse. we've seen natural gas futures rise by about 25 cents in the last two days. the close today was the high else settlement price we've seen for the year, driving the prices higher, expectations that we will see the first withdrawal from natural gas in storage for the season as colder temperatures have started to set in. we're going to expect to see heating demand pick up over the winter. you add to that the fact there have been these expectations that we're going to see natural gas supplies really grow over the next several years. the energy information administration today saying that by 2017 or so, we will be an exporter of natural gas. this on top of what the international energy agency has said about natural gas and the fact we're continuing to grow here with our supplies. back to you. >> all right. thanks so much, sharon. of course, stocks not able to hold on to early gains today. the market is lower right now. look at this. this market is down about 3%, just over 3% since last

sharon epperson has details. >> bill, traders are offering a variety of explanations for why we are seeing higher. some are saying that an obama re-election will mean we'll see fed chairman bernanke stay longer or at least see a continuation of accommodative monetary policy. others are saying, well, at least we'll know who will be in the white house for the next four years. some level of uncertainty will be lifted for the market. that also they say is bullish for commodities. but there are others who say just look at technical levels. today's rally has a lot to do with breaking through some key markers. namely on the wti contract above $88 a barrel and a 2 1/2 year high foreign lumber. back to you. >> all right, sharon. thank you very much. so what is today's rally telling us about the potential outcome of the presidential election and how should you play it right now? regardless of who wins, will it have any effect on the economy? joining us now, rich bernstein, cnbc contributor. jeff cox, cnbc.com senior writer. and our own bob posani. gentlemen, thank you so much for joining us. rich, l

sharon epperson is here with details. >> egyptian officials say there are talks ongoing to reach a truce in gaza. the language is going to be key here and whether or not there's a comprehensive deal, well, that remains to be seen. we are waiting to see whether or not a cease fire is officially reached by the end of today. that was the deadline that was set. obviously, these oil markets are anticipating that some type of deal will be reached. as you look at decline we've seen in the price of crude oil, both brent and wti erasing all of yesterday's gains. we're also looking at the supply picture, which may be weighing on u.s. oil prices as well. we're going to get a report from the energy department tomorrow about crude supply situation. it's expected to show an increase for the week. we're also going to get tomorrow the supply situation for natural gas, a day early because of the thanksgiving holiday. >> all right, sharon. thanks so much. meanwhile, shares of consumer electronics retailer best buy down again today. down about 13% today alone after a massive earnings miss. this, even thoug

sharon epperson at the nymex. >> oil prices are falling waiting for more news to come out of the recentange. we are looking at a decline in crude oil, the wti contract and brent crude prices. the fact we're still waiting for a deal in greece, the fact we're waiting for major economic news here in the u.s. and the fact we're still waiting to see what wloo this truce holds between israel and hamas, all of these are factors traders are watching. natural gas is the big story in the energy complex because it fell by more than 4%. the biggest plunge in 15 weeks. traders looked at the map of the country and saw warmer temperature as head. a reason for selling pressure. back to you. >> sharon, thank you very much. let's get to this stock that just will not die. we're talking about research in motion. shares have been higher after cibc raised its rating on the company. it's the latest upgrade for this left for dead stock, which rallied over 50% in a month ahead of its new operating system launch. so, can r.i.m. still run higher? that's what we're talking about. talking numbers with these two gen

let's go to sharon epperson right now with the latest on the other story we have been following, the rig fire off the coast of louisiana. >> the fire is extinguished according to the coast guard and no spillage of oil from that explosion. but we are continuing the follow this because initially it said wti oil futures, a spike on the news there had been an explosion in the shallow waters about 25 miles off the coast of louisiana. in the gulf of mexico. and this is not the same type of deepwater rig of the spill in 2010 but it is, of course, something that's heightened the alertness of the people in the area to these oil incidents and automatically had a reaction in the u.s. oil price in particular and seen prices supported already on when's happening in the gaza strip, the escalation of fighting there. that's certainly supportive of prices and an expiration today of the december contract and often leads to volatility so a lot to watch in the oil market and hearing that fires have been extinguished from the fire of the oil rig and no spillage of oil in to the gulf of mexico. back the y

. >>> welcome back to "power lunch," i'm sharon epperson at the nymex, gold prices are closing here, more than $30 in this session, reclaiming that 1700 level. in fact, we are closing right around 1715 an ounce and gold is just an indication of what is happening across the board in the commodities complex, a very strong rally going on here. silver, the best performing commodity today, up more than 3%, but commodities from oil to orange juice are all benefiting today and traders say a lot of it has to do with thor are perception that an obama re-election would mean that bernanke stays as the fed chairman and see a further continuation of accommodative policy. if this, in fact, does play out and we do see interest rates low, gold will be a big beneficiary, that's what traders are talking about. they are also looking at, of course, other commodities as well and this surge in brent and wti prices is one to watch very closely. back to you. >> thank you so much, sharon. here on the nyse floor, we have a 160-point rally in the dow jones industrial average, bob pisani. >> so what do we see h

sharon epperson is tracking the action for us at the nymex.ell-offs seem to have abated a little bit at this point, sharon. >> looks like we'll close down around $25 here in the gold market but we were down as much as $36 and much of that selling happened right at the open of floor trading. of course as you mentioned, it is a risk-off day pretty much across the board in commodities but it is definitely most pronounced here in the gold market. at least in terms of the intensity and volumes that we're seeing. we're looking at the biggest one day slide for gold we've seen in about three weeks. we're near a two-week low for the gold price. i want to bring in a veteran trader who trades gold futures here at the nymex to find out what happened at the open. we saw such heavy volume. seeing it nearly double the average daily volume already today in gold. a lot of that came at the open. what triggered the sell-off? >> well, gold has been in the midst of a risk-off trade. let's step back to yesterday. somebody stepped in and bought 15,000 to 20,000 fron

sharon epperson is track being the action for us over at the nymex. >> we're up about $8 or so in theold market. closing right around $1,683. but keep in mind, this market has been sharply oversold, some may say, or perhaps just a steep decline. $125 or so since the middle of september. right now traders are just kind of evening out positions ahead of the election. it's been, of course, a very oversold, a lot of put activity here in the gold options market. we're also looking at lower prices for copper. copper futures have been under pressure as traders look even beyond tomorrow's election here in the u.s. and look to what may happen on thursday in china and perhaps a regime change, leadership change there, that could bring into question what kind of a stimulus action they take and what that means for infrastructure projects and the like. and across the board in the metals complex, we have seen money managers reducing their net long positions. in copper in fact they went short last week. this is also impact being the price action that we're seeing but there is a lot of wait-and-see in

. >>> let us gets down to sharon epperson at the nymex. mideast crisis not the only big oil headline today. there was another very scary situation in the gulf of mexico, sharon. >> earlier this morning, brian, it was definitely the story that traders were talking the most about. this fire, explosion off the gulf of mexico in the gulf, off of the louisiana coast. a rig owned by black elk energy oil and gas rig there, about 5 miles off the coast of the grand isle, louisiana did explode this morning and in fact two people were killed. two people are still missing. four have been taken to a local hospital. we are hearing that from the jefferson county parish president, john young, who tells us that the fires are now out, that there was no production going on at this facility. while there has been loss of life, there has been no environmental impact from what happened in the gulf this morning. the reaction that we're seeing in the oil price initially we did see and reaction about $1.50 move higher for the wti contract. prices now really seem to

sharon epperson has the final trades from the my next for us. >> that's one of the factors, brian, certainlytraders very concerned about the fiscal cliff and of course what that means for the growth scenario for industrial commodities including oil and energy. we're also looking at the worries about europe that started this slide across the board in many asset classes. then you add to that some fundamental data, the fact that we saw a build across the board in crude supplies as well as gasoline and distillate fuel supplies. u.s. crude supplies are 11% above where they were a year ago and domestic production for crude oil that we're looking at that is 13% above where we were a year ago. the oil supply situation is definitely pressuring prices. we're looking at gasoline prices that are also coming down sharply. another 4% slide here in the market should mean lower retail prices in the rbob market. we could see prices below where they were a year ago at the pump by thanksgiving. not a lot of comfort to new jersey and new york residents but nationally they keep coming down. >> sharon, thank you

sharon epperson will break down the sell-off in gold we've been talking about. let's first start with bertha coombs with apple's impact. >> apple here is negative, but the draw down from apple is being offset by the likes of green mountain coffee. take a look. up nearly 28% after posting better than expected earnings and raising its outlook above estimates. costco with that special dividend, that fiscal cliff, clearly paying dividends as companies like costco issue them ahead of the year end. $7 a share there. also, r.i.m. higher today. google providing some strength. hardware sector driven by apple, dell, and seagate technology are the drag when it comes to technology overall. groupon having a big turnaround. higher in the day but even higher after its ceo came and defended himself saying, hey, folks are talking about me maybe being fired by the board. i'd be the first to fire me if things didn't work out. come back out to the board. gold stocks today started in the red. sharon has more on the actual gold sell-off. >> bertha, it started at the open here on floo

sharon epperson is track being the action at the nymex. >> gold is above $1,730 an ounce right now at a three-week high. again the fiscal fears here in the u.s. are definitely supporting the gold price. we have seen gold perform relatively well this week. in fact, it's probably one of the best performing commodities here at the nymex and we are seeing new buyers coming in to the gold market as well. that's what traders are telling me looking at contracts beyond this year, into 2013. so that is also supportive. copper prices meanwhile are falling even though we got positive data out of china on industrial production. the fears again of the fiscal cliff certainly outweighing what we're seeing in china at the moment. there's been a lot of action the last hour or so in the energy market, particularly in rbon gasoline futures here. keep your eye on natural gas. it is going to get a little warmer here on the east coast causing a little slide in gas futures. >>> bertha coombs has a "market flash." >> standard energy stock hitting a new low today despite they did report record production yest

. >> thank you for that, sharon epperson. >>> coming up next, it must be opposite day because there isy some good news for rim. >>> later on the short list to buy hostess. the story like the twinkie -- hard to kill. back with it after the break. ♪ ♪ ♪ [ male announcer ] 'tis the season to discover the kid in all of us. the memories that last, start with the gifts that last. ♪ enjoy free shipping and great values on your holiday shopping from l.l.bean. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ >>> it is street talk time. we're going to break down some of the names on the move right now. first, research in motion. it is soaring today. a goldman sachs upgrade to a buy, no less! >> what a month rim has had. as reuters notes, goldman jumping on the blackberry 10 bandwa

." >>> meantime, sharon epperson is at the nymex. >> gold prices are down $16 right now, closing around1,713 an ounce. we are looking at gold prices that are at the lowest levels in more than a week's time. it is the figures that came out from the world gold council about gold demand in the third quarter that really sent prices lower here. they said that demand was down about 11% and demand falling particularly in europe, in germany and in switzerland. even a decline in china. all of these factors are ones that lead a lot of traders to wonder how much demand will be there now in the fourth quarter going into next year. this is definitely pressuring prices. we're seeing sell stops going up here that are bringing prices to these levels. still though above the $1,700 level and still seeing some retail interest in the etf market, though prices are down today. back to you. >> thank you very much, sharon at the new york merc. >>> president obama visiting storm ravaged areas of new york city this hour. it comes as we get the first pieces of data showing the business impact of super storm sandy

i'm sharon epperson at the new york mercantile exchange.d future close at 1725 an ounce, down about $6, but holding steady here as we see demand from china, from india, supportive of prices although, of course, gold following the markets. forecasts from barically's saying itth is the time to be overweight gold, unambiguously positive to have more qe. other metals to watch, palladium, certainly, biggest gaper of 4% on the session, big one-day for palladium, supply concerns out of russia and south africa, also supportive of the platinum market. if you want to play these metals as a retail investors, look at the etfs. >>> to the action here at the nyse, bob pisani here on the nyse floor. last words out of your mouth were much better that yesterday. what kind of steady as she goes? >> even on the vans decline line. volume is light to moderate a heck of a lot better that yesterday. best volume in a long time. and a very strong european close. that was the big factor, big speculation again about spain being involved in perhaps the ecb coming and

sharon epperson has the action live from the new york merc. >> not a lot of action in the gold marketere. traders just returning for the first time since hurricane sandy to the floor. as we wait, key economic data coming out tomorrow. we are looking at those traders waiting to see about that information, watching the strength we're seeing in the stock market as well as a little bit of strength in the dollar. that's pressured gold and silver a little bit an then the one part of the metals complex that has been a bright spot has been copper. positive data out of china. pmi data this morning definitely helping that side of the metals complex. >> it is worth mentioning again of course the strength of the rally today. it is still a triple digit gain. we've given up some of the ground but triple digits on good volume ahead of the employment report tomorrow. >>> first day of the month and we are actually getting real in flows, 3-1 advancing to declining stocks. you usually see some kind of volume inflow. look at dow, off of the highs but earlier we had the best day of the month since septemb

sharon epperson is tracking the action at the nymex for us. hi, sharon. >> hi, sue.ers say we're in bullish technical territory here with gold prices closing right around $1,750 an ounce, giving up a little bit of the gain from friday. but that $20 jump more than that to the high settling price in five weeks was key on friday. traders are now waiting for some key data coming out this week. what's going to happen to greece, of course. also looking into terms of u.s. economic data from durable goods to what happens with the gdp data on thursday. then we have at the end of the week china's official pmi data. all of that will be very important for the gold price as we also continue to talk about the fiscal cliff. a lot of traders see bullish momentum in gold because of that. barclays saying we could see $1,810 for the gold price in the fourth quarter. as far as the other metals, we are looking at a mixed picture. copper will be key as well to see if the gains we've seen over the two weeks continue. back to you. >>> we're on the downside here on the floor of the nyse. mar

i'm sharon epperson.ust in time for the bell for the close of the gold, trading here on the floor of the new york mercantile exchange. gold prilgss haces are up $11 ot the close, $1,726 an ounce, near the highs of the session. keep in mind a lot of traders this morning talking about that $1,721 level would be a key level to get above and in fact gold prices did get above that mark. the ecb continuing accommodative policy. that's something traders are talking about as a reason perhaps for the strength here in the gold market. again, many see the fiscal cliff and the stalemate ahead of determining whether or not we're going to avert the fiscal cliff as bullish for gold. we are looking at relative strength in the dollar and still gold prices rallying. it tells through is still a lot of interest in this safe haven bid here for gold. we've seen that in the exchange traded funds as well withholdings in exchange traded funds, gold related exchange traded funds rising to a record level. lot of interest and inflow

sharon epperson is track being the action over at nymex. >> hi, tyler.closing near the lows of the session. right around $1,712 an ounce. down $16 or so on the day. we've seen a lot of volatility of course in gold with every headline about the fiscal cliff having some reaction in this market. and when it all comes down to the final day of the month, we're looking at gold prices that are only slightly lower than where they started out this month. but we are looking at volumes that have been very significant in this past week. in fact, record volume on tuesday for gold futures. a lots of volatility in that session for sure. we're also looking at what is happening in terms of some of the gold coin sales. those have been very strong for november and in fact, we're looking at the strongest sales for november that we have seen in 14 years. and it is not only retail investors wanting to buy coins. they also want to hold the gold etf, the largest gold etf, the gld, has set gains for four straight months. this month no different. right now we are looking at a rec

sharon epperson has details at the nimax. good morning. >> good morning.t will mean a sea change for the international oil trade and of course for the u.s. energy landscape. the international energy agency is saying that the u.s. will become the top oil producer in the world by 2020. surpassing saudi arabia, surpassing russia and it's going to do this with the focus that we've had and the growing support of the north american fracking industry. that's really going to help to bring us to that nearly 10 million barrels per day which is what saudi arabia is producing right now. we are looking at these numbers also as an indication that as the u.s. continues to produce more oil and as we continue to consume less oil in our transportation sector with the fuel efficiency standards set in place, it's likely the u.s. will become self-sufficient for oil needs by 2035. that's another prediction by the international energy agency. this is a huge prediction on their part. they haven't made a prediction like this in the past. it has a lot to do with self-sufficiency in

thanks very much, sharon epperson. lot of media and media distribution names out this morning with earnings. let's start off with discovery communications. the stock is down. it's a my multiple stock therefore many investors assuming a continued very high rate of growth overall for revenues and particularly for the international businesses of this company since it is so dependent on them and they're an incredible growth engine. it's there where there was a pause. some would say that pause was a result of the olympics. things accelerated in the second half. that's something the company talked about in a conference call this morning. the pause was there when you look at discovery's advertising revenue up 7% versus a year ago but down 11% from the previous quarter. that is overall on the u.s. and then international you see as well. that's where the disappointment lies with discovery in terms of at least where some analysts were in their estimates. the company is pointing to stronger fourth quarter ad growth for internatio

back to you. >> thank you very much, sharon epperson from the nymex. >>> back to the looming fiscal cliffl this december, paychecks could shrink for millions of workers. tom, it is amazing. if you take a look at how retailers are doing, what consumer spending is doing, doesn't look like consumers are that worried about the fiscal cliff. but should they? >> well, you know, i'm not so sure about that as a starting point for the discussion. i would say if you look at october, october was actually a negative month from a retail sales perspective. certainly you could make an argument fiscal cliff was imbedded in that. here at rbc we have this consumer confidence report. in addition to our standard allotment of questions we ask every month we ask a bunch of special questions. one question we've been asking for the last several months is to households, are you following the fiscal cliff? we started asking this question, 60% of the house holds were not following the fiscal cliff back in june. now 40% of households are not following the fiscal cliff. you've seen some improvement but i would argue

now we are looking at a slight pullback in the gold price right around 1730 an ounce. >> sharon eppersonnks for that. hewlett packard didn't have it. regulators didn't have it. one famous investor did. find out who we're talking about. that is next. plus, hewlett packard shares now sharing at decade lows. we have an interview with ceo meg whitman and we'll ask her about the outright misrepresentations at autonomy which is pulling stock down as we head to break look at this morning's early movers. a lot of home builders on housing starts numbers. they are trading higher in today's session. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. part of a whole new line of tablets from dell. it's changing the conversation. ♪ >> dow is off 50 points. hewlett packard, biggest weight on the dow right now down by about 12.5%. these are lows that we have not seen since october of 2002. ten-year lows on hewlett pac

sharon epperson watching that breaking story from the nymex.ut revenue on the table and i guess you could argue that's a big change from two years ago, even a year ago. i wonder if you think we have made -- there's been a little more progress than we're giving the situation credit for given the fact we're so myopic about the day-to-day negotiations. >> i absolutely do. this is building over time, since the collapse of those grand bargain negotiations in the summer of 2011. over the summer, for example, chuck grass ri of iowa long-time member of the finance committee said we need revenue on the table. now that you have had an election result, democrats gained seats in the senate, they gained seats in the house and republicans have the majority, you are seeing republicans embrace that reality that the president campaigned on this. they want to be seen as cooperating with him. and it's a very positive environment at this moment but the hard part is not getting the leaders to negotiate. they can do it easily. >> i asked you this morning how this wo

i'm sharon epperson on the floor of the nimax.re worried about what's happening in europe. they are worried about the fiscal cliff and they are worried about the supply and demand that they are seeing for many commodities. we're looking at commodities weaker across the board and particularly in the oil market where the international energy agency has released another monthly report saying they see the global demand growth for oil sliding in this quarter and next year. they reduced the forecast there. we're also seeing production that is coming back online from the north sea. that's pressuring present crude prices and we expect to see another increase in crude supplies here in the u.s. for the weekly supply report. that also adding pressure to the wti contract. the only bright spark in the marketplace is natural gas. it is up for the second straight session. and there we may see a withdrawal from storage. first of the season as we get into the winter months. colder temperatures ahead also could help prop up natural gas futures. we'

fascinating story. >> let's get to sharon epperson. breaking nulls on nat gas inventories. sharon? off of their lows this session and inventories came in a little bit less than expected. the market was expecting to see natural gas supplies rise between 26 and 30 billion cubic feet and last week rose by 21 billion cubic feet according . we have been above the 350 level mark in this session. i'm bringing in alan harry, ceo of spartan commodity fund. when's the price action tell you? what's the build-in supply? record storage level for natural gas. >> number came out. wasn't the bill they were expecting and bullish for natural gunshot and seeing right now in the marketplace. on the east coast, we have had infrastructure outage with lack of furnaces to use the gas. >> you have a lot of fans in the background. >> so what i'm looking at right now is as soon as the infrastructure is back up and it is getting, more natural gas use going to be used. we have a cold east coast right now i see it rallying. >> we are looking at one-year level. year ago levels, above that. above the five-year av

jean salvatore is here with sharon epperson.e need the most help sometimes there are con men out there. if you're looking for a contractor, what's your first piece of advice, jean? how do you know if you're running into a scam artist? >> well, the first thing, if anybody asks for money up front, don't give it to them. that's generally a scam. you do not have to give anybody any money. and don't sign anything. that contract might not be in your best interest. >> what if they're trying to rush you? >> actually, that's a sign this might not be kosher. basically, you don't want to sign anything or give anybody any money. instead, you simply want to take business cards, take names, and then you can check them out. and what you want to do is check their licenses, check references, you want to ask if they have an insurance certificate. you want to vet them carefully. >> what's legit to ask for in terms of up front money? >> right now, you should not be giving money to anybody to start work. you just simply want to collect information.

sharon epperson and jean chat y chatzky, appreciate it. >>> need to get away?plit it. [ female announcer ] made fresh, so light, buttery and flakey. that's half that's not half! guys, i have more! thanks mom [ female announcer ] pillsbury crescents. let the making begin too bad the guys aren't here we're clear. ok, swarm! swarm! hello [ female announcer ] pillsbury chocolate chip cookies. let the making begin >> this morning on leonard's look of paint jobs that transformed a town. a town that went from drab to dazzling with a little imagination and a few paintbrushes. >> reporter: i had promised to return when the colors had transformed the landscape. when the last lingering clouds of doubt had finally given way to the vividly radiantly, brilliantly simple view that a basic change of colors could miraculously alter the fortunes of a small village. >> it was a miracle, you know. >> now everybody wants those colors. >> reporter: colors that have brightened the buildings and the prospects of centersville, new york, a rural community 50 miles south of albany. ten y

thanks so much, sharon epperson.dow more than 180 points for the down side as we lost steam in the afternoon. continues to loosen ground. currently down 31 points. s&p off 2.5 and nasdaq down 11. tough morning in terms of data, disappointment on planes, philly fed, eurozone recession. leading the s&p. net app. and then retailers, the biggest losers today. roth stores, walmart, limited, children's place all down sharply on worse than expected quarterly results. roadmap for this morning, markets struggling to find their footing as the fiscal cliff continues to loom. we'll talk with one expert who's still bullish on the u.s. stocks. plus a new report that says the department of defense has transformed into the department of everything. we'll find out how your tax dollars are being spent. the new vc funds that are betting big. they'll tell us why the big data department could be a billion opportunity. the house panel blaming john corzine for the m.f. global collapse. nan heyworth will join us live. we'll kick it off with

. >> thank you sharon epperson and thank you john woods. >> we're just one hour of trading, since hurricanet down the financial markets. a rally on wall street. let's bring in art cash and by rally, we mean a 1% gain on the dow. what can you tell us about how today stacks up against yesterday the first day? >> we're having a pretty smoothly running, certainly here at the exchange, coned started to get some of the power back, the streets west of here picking up. there's still problems with cell phones and that sort of thing and that night be limiting the volume. the employment situation, initial claims, the adp, there are even some people think it may be some posturing in front of the election and the idea that the destruction of the hurricane is going to lead to a spectacular job growth. i say. >> hold on a minute, that was the basis that you could dig holes, pay people to dig holes and pay other people to fill them in again. >> it brought a lot of my ancestors over here because they thought there was a lot of things in those holes like gold. but that's not exactly the same thing. that's an

. >> thank you, sharon epperson. jcpenney is at a crossroads, big earnings miss, two weeks before black friday. is time running out for ceo ron johnson? diageo, paul walsh, expanding their presence in india. early movers on wall street, igt up 4.5%. >>> take a look at the dow heat map. disney leading laggard down by 5%. green there, microsoft making a big move. top left hand corner of your screen. that corner there. it is higher, though, right now by 1.25%. >> yeah. looking for -- for various reasons. big time of the year for video games. halo gets talked about a lot this week. we'll see if we can get clarity. we haven't talked much about china. what a coincidence on the second day of their communist party congress we get great numbers on industrial production, on retail sales, on fixed as set investment. shanghai doesn't like it. maybe stimulus less likely? >> as soon as great numbers came out, china fell on great numbers. i think the chinese government wants to get employment back. they want to be able -- they real

be a topic of interest at royal dutch shell's investor day in new york, where we find our sharon epperson a special guest. sharon? >> becky, i am indeed with peter voser, here with an exclusive interview with cnbc. thank you very much for being here. we did hear from the international energy agency this week, their forecast variable saying that the united states will be the top producer of oil and gas before 2020, will be energy independent in 15 years. do you think these predictions are realistic, too optimistic? >> when we look at these scenarios and compare them to what we have actually we are very, very close to the same scenarios. they also confirm the very important role of gas, for example, worldwide but also in the u.s. so i think the u.s. with the revolution in light oil, the opening up alaska, more findings in new mexico, it's to drive energy independence and policies and investments. i think the u.s. can really grow in a tremendous way and become independent and even start to export. >> you say a lot of ifs here and a lot of it has to do with the infrastructure. when we last sp

sharon epperson covering the complex for us.n we come back, art cashin has seen his share of presidential le presidential elections and impact on the markets. we need his words today with the dow hanging on just 24 points above 13,000. financial reform stays in the white house along with obama and wall street's worst nightmare, elizabeth warren takes massachusetts. all bad for banks or is the headline fear overblown? we'll find out. >>> close to session lows right now. let's go to bob pisani here on the floor. >> talking to jim cramer for all days to come in and make a comment, couldn't he have stayed home today and helped us all out? look at what happened at 7:15. futures were flat. there we are. we had a chart that showed where comments were made about germany now joining weakness. our markets fell apart. europe dropped on that. we went weak going into our open. we have since weakened from there. the important thing is look at the s&p 500 on intraday basis. the key point here is there were a lot of people buying on the weaknes