also gilead science is getting a huge pop today. world's biggest biotech company by market value. halted trials of the cancer drug. for good reasons. gilead said patients taking one of its leukemia drugs in concert with other medications showed longer life expect tansies. we'll cap it with quest diagnostics. third quarter earnings and sales fell short of analyst estimates at fewer customers ordered testing amid stricter insurance company rules for cost reimbursements, maria. over to you. >> thank you so much. final ten minutes of trading. 291 points higher on the dow jones industrial. we did just hear there's a tinge to the sell side. very small shares sell. perhaps we come off of the highs here going into the close. nonetheless, stunning rally across the board. >> from yesterday's low, the dow is up 2.6%. that's big. >> tweet sfwlnchts coming up, two of our market pros react to the news from capitol hill and its impact on wall street. is the rally justified. we'll talk about it when we come back. ♪ [ laughter ] ♪ [ female announcer

gilead last night, a remarkable quarter. i keep getting stunned by the facts, even though the thesis should be we're too far too fast, the facts keep baring out the rally. >> not to mention the fed is not likely to taper any time soon, let's say. there are those like fink who are saying maybe we're getting a little far long here and then there's the david tepper argument, which is, hey, multiples are not that high, i can see multiples expanding and i'm going to be fine and earnings to your point is been -- >> okay. >> look at kimberly clark. a little organic growth. everyone knows kleenex, okay? goes from 93 to 108. both number got better but the 10-year went to 2.4. the 10-year is not competitive to the bond market equivalent stocks. this is the percolation of the fed and it makes you think, wait a second, why shouldn't i go back to general mills? especially with corning down 40% year over year. >> do you think an outlier surprise in this decision this afternoon is going to be a comment about asset markets? do they need to

there goes gilead on the news that their leukemia study went so well, it finished early. the biotechs. get a positive article on mobile advertising in the papers, the whole kit and caboodle. yelp, linked in. twitter, it's not even public, but it still went up. it's just the way it works. now, i have no idea about the staying power of the move if there is no agreement on the debt ceiling overall. but the social security and medicare card now being played by the democrats, there is no deal, well, there will be no checks sent out. and that would cause a dramatic contraction of the economy that would take everything down, including these economically insensitive stocks. but these stocks right now are going to be mexican jelly bean bounce backers. why is that? first, when things get rough, aggressive managers lose their appetite for risk and want to keep their gains for the year. i used to cover or buy and sell stocks for these kinds of managers when i was a broker at goldman sachs. i used to detect their moves when i was a hedge fund manager. they almost all came in at once w

and gilead sciences came in strong with earnings and full year guidance that beat the street. shares rose 1% after the close. it's official dell is now a private company. and, sac is set to soon plead guilty to securities fraud according to the wall street journal. all enough men have trading in advantages on. in the seat first this morning is in the trading area of cme group. good morning to you. > > good morning angie. what do you see in the market today as we await the decesion coming from the fed? > > well nothing's changed, i've been bullish along time there is no reason to change my horse right now. i am looking for the market to continue to go. we have come a long ways just in these last few sessions. we're up about 7 to 8% in the s&p just since october 9th. it's getting more thin is this air, but i still look for the market to eventually move up to 18 and 20 in the s and p is my technical target. will it bother you at all though that consumer confidence seems to be plunging here? > > well, you know by talking to me that confidence is very important. you have to be conf

you want to pay close attention to gilead. i'm concerned here because we saw certain numbers this week and the stock is coming down. without pen pointing information about when we will see approval and sales estimate, i think you emight enjoy the good news and going down, 69, maybe 64. always remember i like companies who embrace the whole wheat trinity of social, mobile and the cloud. that's the definition of facebook. so when it reports wednesday, we want to hear how it will continue to monetize mobile and social, a way for advertisetories reach consumers, my charitable trust has had a big year. i play with it open hand, you need to know we trimmed back our positions this week. in the past few weeks, we talked about a ma'am mooth surprise. i never want to hear that talk. if you have a big game going na the quarter, take something off the table. because when you have that kind of expectations so high, you can have disappointment feempb they do a great number. how much is left in star bucks in after this remarkable 49% run fro

celgene and gilead, the last rallies, so totally unlike anything we have seen in ages. just a wholesale reordering. reranking and, yes, a rerating of good companies going great and fine stocks going ballistic. once an object is in motion, it sure tends to stay in motion until it hits a wall. right now, i don't see any walls for these stocks. it's a remarkable moment. why don't we go to justin in florida? justin. >> hey, jim, thanks for taking my call. >> my pleasure. >> my question today is about wal-mart. by the way, a big boo-yah! >> well, i saw courtney have a really good interview with the wal-mart head for the u.s. i thought he sounded very bullish. like the story about oil coming down, i think that's a good idea. you know why i like ross, t.j., dollar gen. that's not bad. let's go to june in new jersey. >> caller: hi, jim, how are you? >> how are you? >> caller: i have a quick question, do you think the twitter ipo is a good investment? >> everything is on price. if you can get a valuation below $20 billion for twitter, i will bless it. i don't want people to go c

my impression, kelly, amazing how quickly all of the high flyers, the gileads, netflixs have come back, and leading the s&p. >> still slightly lower for the week, but more of this action, and we'll soon be positive. >> still have to get through the meeting with the president and the gop, that happens after the close tonight. in the meantime, back to headquarters. scott wapner and "the halftime." >>> carl, thanks so much. it's a sea of green on wall street. the second-biggest rally of the year for all three of the major averages. as you look behind me on the s&p 500, heat map, nearly every single stock in the s&p positive, but a handful. here's the sector heat map today. the financials, the industrials, the discretionaries are leading the way. good to note, the s&p leading 44 points to erase all of monday and tuesday's losses. not quite there yet. but certainly appears to be on its way to doing just that. welcome to "halftime." here's what we're following. the lone wolf, fixed-income guru, john, on how to trade treasuries and the d.c. dysfunction. bank brawl, as jpmorgan and wells fargo

high fliers in the nasdaq, the linkedin, teslas finally cracked, my favors celgene, regeneron and gilead. but very few can hold up even if they don't have that economic sensitivity. these high-fly selloffs don't end in a day or two. they tend to last three four days before they start bouncing back and usually bounce back with a vengeance. accept they've been big winners and big winners do sell off and then your call not mine whether you can handle the disturbance, or if you want to ring the register, i suspect they'll go back when the deal is done. again, perspective on things. as i like to do every time i get discouraged like today, i take a look at the "wall street journal" from october 4th of 2011. that's when the s&p 500 index fallen 19.4% from its high after the one-two punch of our first debt wrangling and the beginning of the session in europe. that was a huge selloff and traced to many of our similar political issues now, but as well as the lunacy on part of the european central bank which bumped interest rates twice in the face that turned out to be a gigantic slowdown if not a

looking at gilead. netflix up 5%, 303 a share.ds 50 bucks a share. look at activiiion as well. moving higher. all the stocks especially on the nasdaq big movers. look at overall markets. what we have and what we're seeing have seen throughout the day as you heard exclusively from rich edson the fact that the gop is extending an olive branch to the president. that meeting will be at the next hour, getting underway at the white house. markets want to see a deal. markets think today they will get a deal. tomorrow morning could be a whole another story or could be a better story. the news will continue to go on. i will continue on with you but i will bring in my man, david asman. david: good. fantastic. what a day to have you here. incredible, 299, we're just about ready to pop 300 on the dow. there we go. 300 points on the dow jones industrial average. we were talking yesterday to the cm e-trader in chicago. seems like a lot of cash-rich traders looking for opportunity. cheryl: looking to buy. david: if this deal takes places looks l

we're also seeing, by the way, gilead.made an actual trial stop because of a fabulous anti-lu anti-leukemia drug. >> and the nasdaq, which has had a rough couple of days, trying to find its way as some of those high flyers have come in a bit. >> they've been down 4% to 7%, some 10%. hard to keep those boys down. >> yup. there's a look at the s&p. you're going to see a lot of green this morning. down here at the big board, columbia property tus celebrating its listing on the nyse today and nasdaq, tractor supply celebrating its 75th anniversary. congratulations to them. you mentioned some dow components. boeing gets initiative at canacord with a buy. >> try getting any of their planes. 10,000 orders now. have you ever been to one of those boeing factories? they can't crank them out. that's not canned soup! >> they do talk about r & d expense, maybe a bit of a cloud. some of the production levels going into 2015, 2016, not entirely clear but it is a buy. the price target 140. >> the gross margins go up per plane, the yield i

although, there will probably come a day not when gilead exceeds that. >> gilead got a good panel recommendation. >> biogen is going to open at a record high. >> biogen, not afraid to cannibalize other m.s. drugs. they brought in the rights. i look at merck and i see the animal health business, which has been so great, not doing well, versus pfizer when they spin off. merck is under fire here. merck has no game. >> no game? >> no game in this great-american one. >> speaking of companies trying to find their game, it is going to be apple due to issue and results after the bell. waiting to see what the tech giant will say of sales of the new iphone 5-s and the 5-c. the call is on to see the response to carl icahn's buy back program. >> they did kind of give you awe higher estimate. they sold 9 million over that weekend. they gave you the high-end. i have to think apple is very cheap. very cheap doesn't necessarily get things going. the two things that disturb me about apple, the bar is raised by the fact that they raised the bar on the high end for the apple file that they mate september 23rd. ica

the british writer pe knellly gilead wrote of soyinka in 1965, soyinka has done for our napping languagefrom ireland have done for centuries, booted it awake, rifled its pockets and scattered the loot in the middle of next week. [laughter] the image of the artist is one that soyinka essentially embraced. he said, quote: i knew from childhood that independence in my country was inevitable. freedom, i felt, should be as normal as breathing or eating, and i was interested then in what kind of society we are going to have. when i saw what was happening, i found it difficult to be silent to the point of criminality. in 1965 soyinka was imprisoned for the first time for making a radio announcement, allegedly -- he's quick to point out he was never convicted -- [laughter] for making a radio announcement that mocked the resultings of the so-called election. fellow writers in britain and america including william story and norman mail, lillian hellman protested, and soyinka was free, and the charges dismissed. 1967 soyinka was arrested again, this time accused of treason at the start of the niger

. >> we have merck and gilead.working for these guys, everyone tells me about that. i have to believe your customer base is about to grow. >> inside our customer base, we'll help them with more solutions. i was a main frame guy back at ibm and then early days of client server, early days of the cloud. in these industry-specific applications in the cloud, we're just getting starred. we're just getting started. >> it's big. very big company. >> the open, looks like it's going to be good. >> thank you very much. >> peter gassner, the ceo of veeva, which opened on the big board. let's get to diana olick to check in with home builder sentiment. >> it slipped a larger than expected 2 points in october. the builders blame the drop on, quote, uncertainty in washington, big surprise there. in addition to continuing costs and labor challenges in the housing market. the survey was taken between october 1st and 11th, just as the government shutdown began. buyer traffic and sales each dropped 2 points. buyer traffic is the only