maybe some of it due to marc faber on "squawk on the street."ithin the last hour, said to be very careful in the market, that he could foresee a pull back in his words of some 30% to 40% given the fact that we haven't had a meaningful correction in some time. so we're watching that story. tough week for crude as well. global concerns and rising inventories are sending oil down 4%. for more, let's go to futures now host jackie deangeles. >> crude trading around one-month low at this point. jim, i want to get your take on what is happening in the pits here when we look at the crude trade is this all about the rising inventories yesterday and over the last few weeks? >> no, i don't think it is. i think if you look at crude and copper, both hit hard in the last two weeks. i think it's a question of emerging markets. i think that's priced in at this point in time. as are the inventory numbers. we've seen a little bit of a pop today. after a $7 break in two weeks' time i wouldn't be a seller of it. i would be more inclined to buy it if these rumblings

that is the operative word from marc faber. day --t the end of the this is a state run economy.have the ability -- >> it is a command economy. >> they have an ability market -- true market-driven economies wouldn't. leastsident xi is at talking a good game, saying he thatnot bail out every soe comes around with problems. when it happens, there could be shocks to the system. i think long-term, it is probably good for china and for the world economy that they get of a market based approach. >> i was having lunch with someone who runs a business in china, and he said a lot of other business owners that he talks to will inflate numbers and lied to each other when they are discussing things. they just raised $5 million in the vc round. they will say they raised $10 million. that is just the way it works there. >> i can't speak to that. growthdo know is their has been steadily declining, but that should be expected, to have record double-digit growth for nearly 30 years -- i do not think you would expect that for another 30 years. cook the numbers or not, their growth is slowing. my f

marc faber, editor and publisher of "the gloom, boom, and doom report."optimist there. meanwhile, coming up on "squawk on the street" today, squawk breakthrough says it's developed the first ever image recognition technology for google glass. what exactly is the company using it for? we'll tell you in a moment. >>> plus now that marijuana is legal in washington and colorado, what happens next at the federal level? at this moment congress is holding a briefing trying to figure out just that. congressman jerad polis is one of the congressmen run that briefing. briefing. my sinuses are acting up and i've got this runny nose. i better take something. truth is, sudafed pe pressure and pain won't treat all of your symptoms. really? alka seltzer plus severe sinus fights your tough sinus symptoms plus your runny nose. oh what a relief it is customizable charts, powerful screening tools, and guaranteed one-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td amerit