i'm mandy drury, get your business news on cnbc. >>> talk about a waste of shoes.ook at this mess on a florida turnpi turnpike, a truck overturned yesterday afternoon and 32,000 pounds of shoes spilled out on to the road. bulldozers and shovels were needed to clean it all up. the shoes were donations on their way to haiti and south america. the time now is 6:2 on saturday. still ahead, following developments in the ambush of a philadelphia police officer. we are live where investigators have been gathering evidence. >> reporter: after the break, rosemary, what led police to this home. >>> all right. we are tracking light rain right now, and actually clouds too, so as you head out this morning, you may see wet roadways, looking at reduced visibilities as well, and a live look outside, dealing with the clouds, tracking heavy rain tonight, but a mild weekend. we'll talk more about the numbers and a cold blast to start out the workweek. manufacture on that coming up. flr >>> right now on nbc 10 news today, ambush aftermath. an update on the wounded philadelphia police

i'm mandy drury. >>> award season tomorrow, with the golden globes, and crews are putting final touches on decorations at the hotel in hollywood. actor and comedian will host the event again, and the globes are considered a predictor for next month's oscars. all the main races appear to be tight with no clear front runners. watch the golden globes tomorrow night here on nbc 10. the show starts at 8:00. you can see the red carpet arrivals beginning at 7:00. matt lauer and more will host the preshow. >>> more than 20,000 people gathered in an australian town to celebrate the king of rock n' roll with sparkly jump suits, the whole shebang. it would have made him proud. this elvis festival is billed as the largest in the southern hemisphere. it's 5:57, and police officer recovers from a shooting, and this morning, law enforcement is continuing to delve into the background of the suspect in the case. nbc 10 is following the investigation. we'll check in in just a few minutes. michelle? >> we are tracking rain in the area, even light freezing rain in the poconos, light snow as well. here's a

i'm mandy drury. stumbling out of the gate. >> not at all. how are you, everybody? welcome. is this bull run over? we'll look at previous big dips and look ahead to the earnings season to see what it all says about the market. is this the time to buy or wait? >> "power lunch" all access. we have six ceos and they're ready to go all with unique takes on their business and beyond. so on the list we have volkswagen, johnson & johnson, toyota, shire, and hyundai. >>> and a chinese official making some blunt comments on that country's economy today. and he did so only to cnbc. >>> plus, an american who runs a manufacturing business in china will tell us what he sees over there. >> stocks are really seesawing between gains and losses. at the moment we have the nasdaq and the s&p on the losses side. the dow is just up very slightly, now back in the black, but we did have a gain of triple digits earlier on in the day. the nasdaq is trying to avoid an eighth straight losing session. it has not had an up closin

mandy drury is at the new york stock exchange. melissa joins us from the nasdaq where we're down 2.5%. >> and the key point to know about today's session is the growth stocks, the real winners of 2015, those are the ones taking it on the chin in today's session, the first session of the new year. look at what's going on with the f.a.n.g. stocks. take a look at apple. this could be the turnaround of the day. intraday it hit a low of $102. it's now almost $3 off of that low. earlier in the session we had not seen levels we saw 25today since the flash crash of august and the stock is down 17% in the past six months. for today it's a standout in terms of the reversal we're witnessing right now. mandy? >> thank you for that, melissa. there's a lot of red down here at the nyse. at least though as ty was saying we're off the lows of the day and the dow is coming back above the 17,000 mark. the s&p is back above 2,000 sitting just at 2,001 but i think it's important to keep in mind, bob, that just because you have a bad first trading day

. >> hello, everybody, i'm mandy drury is tyler mathisen. as you can see, it's going to be a very busy day on "power lunch." >> and to kick it off, let's get down to dominic chu at the nyse. >> no shortage, guys, of headlines coming out of here, the nyse today. as we take a look at what's happening overall with the sectors, let's dig below the topline numbers you just spoke about. the s&p 500 now off again by about 52 points. a huge move to the downside, almost 3%. as you take a look at the sector composition, this is perhaps a telltale story of what's going on. what's interesting about this right now is the jockeying of position. energy and financials, as you're seeing there, the two worst performing sector -- two of the worst performing sectors in today's trade, but financials and energy have been kind of jockeying for which has been the worst so far, and, of course, bank earnings earlier today have played a big part in that overall financial weakness story. citigroup shares off by 6.5%. they reported numbers. blackrock, the world's bigges

i'm mandy drury along with tyler mathisen. >> it is a day of worry for investors and noninvestors alikee dow showing big losses, more than 200 points, 214, 215 at this hour. nasdaq is off about 1% as well and the s&p did owe that, down 21, a little more than 1%. >> this after this woman in north korea told the world her country designated a hydrogen bomb. they are 450 times more powerful than the nagasaki bomb in japan. >> a short time later japan call

td ameritrade. >>> welcome back to "power lunch" i'm mandy drury.struggling to hold steady amid china's ability to stabilize their markets and economy. jason pride is director of investment strategy with glen meade. welcome to "power lunch." thank you for joining us. man, what a rocky start to the year, particularly for oil prices. what are you telling clients and what are they saying to you when they pick up the phone and say, what's going on? what should i do? >> first and foremost we have positioned portfolios to be what we think is a neutral risk posture now because we're in the back end of the economic expansion, valuations particularly in the u.s. have gotten more pronounced. i think the risks are a little bit more balanced coming into this year. we didn't see what's happened in the first couple weeks here coming right at the start of the year, but we think that risk of down side is there and investors need to be prepared for it -- >> how many down side? when you have rbs coming out and saying sell everything, run for the hills. >> i think it'

tyler mathisen here, mandy drury there. there would be the new york stock exchange. another sell-off on wall street, although, mandy, we are well off the session lows. >> yeah, absolutely. the dow, in fact, was down as much as 318 points. currently we're down by 241. we're still, of course, well below the 17,000 mark, but it's all improvement coming off the day's lows that's important here. the s&p 500 is still stuck below 2,000. it is off by about 30 points, and the nasdaq is down by nearly 2% and is actually nearly pretty much wiped out a good chunk of 2015 gains. we remember that the nasdaq was the outperformer of the three indices in 2015, but now it's not doing well at all. it's off, as i say, by 2%. let's get to bob pisani who joins me on the nyse floor. you have to ask you, bob, today when i was coming down to the stock exchange, my driver turned to me and he said, i was reading that the u.s. stock market is down because of something that's happening in china. he said why should u.s. stocks care so much about china? and then, of course, we spent the next 30 min

along with mandy drury, i'm tyler mathisen. a wild week for investors. the focus shifting to china and jobs right here in america. >> strong employment growth, but at the same time weak economic growth. what is behind this and what does it all mean for the american economy overall? steve liesman, we know you've been taking a very close look at this conundrum. >> forget china, mandy. the united states is confusing enough. two data points highlighting that confusing economic outlook for investors, jobs surging and soaring. growth weak and weakening. let's talk about growth first. cnbc rapid update shows a bigger than expected decline in inventory, prompts another mark down in estimates for the fourth quarter. q4 down 0.2%. the range 0.1% to 2.3%. morgan stanley was 0.1% growth. it's the fourth markdown in a row. 22 data points go into the rapid update. 8 have been negative and just one to the upside. we started the quarter with a 2.5% estimate from economists. so more than a percentage point of growth has evaporated. the opposite though happening with jobs

tyler mathisen here, mandy drury there. there would be the new york stock exchange. another sell-off on wall street, although, mandy, we are well off the session lows. >> yeah, absolutely. the dow, in fact, was down as much as 318 points. currently we're down by 241. we're still, of course, well below the 17,000 mark, but it's all improvement coming off the day's lows that's important here. the s&p 500 is still stuck below 2,000. it is off by about 30 points, and the nasdaq is down by nearly 2% and is actually nearly pretty much wiped out

cnbc's mandy drury, thank you.u. >> you, too. >>> let's bring in "forbes" contributor gordon chang. gordon, good to see you. how are you? >> fine, thanks. thank you, jose. >> we talked a lot over the summer when similar concerns about china's economy threw world markets for a spin. is this all about china and its regimes' me lags of the markets and its currency? >> well, the manipulation is a problem, but i think it really goes to the exhaustion of china's growth model. now it's essentially it's hitity natural end. chinese leaders don't know what to do. they're not willing to reform. and so therefore they're presiding over an economy that is tumbling down. and of course, that is reflected in the stocks and in the chinese currency. >> talk to me about exactly what that growth model is and how they're stumped and how they can't really -- they're not willing to change. what would change include, and what exactly is that growth model that they're so, you know, favorable to? >> well, really china grew for 3 1/2 decades

i'm mandy drury. u.s. bank corp is higher by 2.5% with baird upgrading the bank to outperform from mutual. saying it's one of the highest quality banks and well positioned to withstand a low growth economic environment. boeing reaching a six-year deal with its engineering union. >>> and "the wall street journal" reporting that goldman sachs is planning to cut up to 10% of fixed income jobs this quarter. however, a source tells cnbc, this is speculation and points out that the firm cuts at least 5% of its low performers. the stock is up 1.6%. ty, over to you. >> thanks very much, mandy. bond insurers are now suing puerto rico over debt defaults, and ambac is one of them. kate kelly joins us from the ceo and a "power lunch" exclusive. kate? >> tyler, thank you so much. nader tavakoli, new ceo of ambac. thank you for joining us. >> thank you for having me. >> thank you. we want to get to puerto rico. before we do that, overnight some surprising news that some of your top shareholders who are also creditors in

i'm mandy drury. stumbling out of the gate. >> not at all. how are you, everybody? welcome.ull run over? we'll look at previous big dips and look ahead to the earnings season to see what it all says about the market. is this the time to buy or wait? >> "power lunch" all access. we have six ceos and they're ready to go all with unique takes on their business and beyond. so on the list we have volkswagen, johnson & johnson, toyota, shire, and hyundai. >>> and a chinese official making some blunt comments on that

i'm mandy drury along with tyler mathisen. >> it's good to be with you.te the threat and the fear, stocks up a little bit today. it has, however, don't need to tell you this, been a terrible start to 2016. we begin, speaking of terrible starts with dominic chu explaining exactly what contagion means -- >> i don't want to be the bearer of bad news. >> -- where it's coming from,

along with mandy drury, i'm tyler mathisen. a wild week for investors.us shifting to china and jobs right here in america. >> strong employment growth, but at the same time weak economic growth. what is behind this and what does it all mean for the american economy overall? steve liesman, we know you've been taking a very close look at this conundrum. >> forget china, mandy. the united states is confusing enough. two data points highlighting that confusing economic outlook for investors, jobs surging and soaring. growth weak and

i'm mandy drury. i'll sooil is falling once agai big time today. >> as oil goes, so goes stocks. the dow starting off well. but tumbling now. there is the west texas crude down $1.23. there is oil, a brief flurry, back above the flat line. down a modest 24 points at this hour. >> let's get straight down to the stock exchange to the floor of the nyse where we find bob pisani. is thereth

want to bring in cnbc's mandy drury. she's been watching the markets this morning.ou tell us about this plunge? >> it is not just a plunge here in the united states. we've seen really deep losses around the world markets on this very first day of spring. keep in mind that a drop on the first day of january, doesn't mean much. there is a bit of mythology about the first day of trade but don't put any stock in that. we had chinese manufacturing data that came in weaker than expected. then we saw stocks there in china halted with a new circuit breaker after declining very sharply. as you can imagine here in the states we're seeing a lot of stocks with chinese exposure like alibaba, yum brands, they're being hit very hard. a safe haven flow into gold and gold miners are getting a nice lift. i know you're looking at the jitters on the geopolitical front with saudi arabia is helping oil move to the up side. but it's been a very frustrating past year and this really does come on the back of so many frustrations for both the bulls and bears. the s&p and dow were really unab

. >> i'm mandy drury. you just saw sean's pitch. let's meet the panel.n set we have angel investor and adviser kelly hoey. she's a limited partner with lat cone ya group. >> we have david wu from maveron. he mentors owe every 30 startups. and in seattle nat burgess is the president of corum group. so welcome, everybody, to the show. sean, you're in the hot seat today. kelly, first question. >> so as a consumer who clorly needs a charge, how are you making sure that i can find mobile cubes anywhere? >> we have a number of different touch points for the consumer. we're rolling out a app, we have a live map on the website. we also have a deep social media platform that we put out there to consumers to educate them on where they're going to be and where they can find these kio s kiosks. >> david? >> it seems there's several different options on the kiosk side to charge in a public place. what are some of the key differences? >> ours is really one of the only portable solutions. what you see out there in the market right now is the lock box station, the charg

i'm mandy drury along with tyler mathisen. >> it is a day of worry for investors and noninvestors alike. the dow showing big losses, more than 200 points, 214, 215 at this hour. nasdaq is off about 1% as well and the s&p did owe that, down 21, a little more than 1%. >> this after this woman in north korea told the world her country designated a hydrogen bomb. they are 450 times more powerful than the nagasaki bomb in japan. >> a short time later japan called its air force into action to verify the claim. it could take a few days before samples tell scientists the real story. >> mind you, there are skeptics doubting north korea's claims. the south korean market sold off before recovering and finishing near flat, only down about 0.2%. japan lost 1%. chinese stocks picked up some ground closing higher by just over 2%. >> for more on how the u.s. is faring in the markets at least, let's get to the new york stock exchange and our bob pisani. >> very volatile open there, tyler, but we've stabilized a little bit. let's take a quick look at the markets today and that korea test and other factor