melissa? >>> i'm melissa francis, live in vienna. saudi arabia's oil minister just came out to talk. i'll tell you what he said. >>> i'm larry kudlow. president obama trying to regain the upper hand on health care reform. delivers a major speech tonight. we'll debate whether he can get any meaningful legislation passed. this is "the call." we are cnbc. >>> at this hour, stocks are higher. they're being led by industrials. general electric is the recipient of positive comments for the second day in a row. commodities also continuing to rally. the dow is higher by 25 points. this comes after three days of gains. the s&p up by four points. the nasdaq has been in positive territory as well. up by just over 14 points. first, we're going to talk about oil. melissa, lots of news coming out of vienna. >> absolutely. behind the scenes, the name of the game has been compliance, compliance. the quota slipped to 70%, but the oil minister briefly talked to reporters and played down that angle. >> people are complaining. >> are you -- >> 70% is gr

please welcome melissa rivers! [ applause ] ♪ >> and my mother.>> wendy: what do you have there? >> first of all, a gift for you from my mother. she's are her new favorite necklaces. you can wear them together or separately. these are so cool. look at this. you take them and you twist them. >> wendy: i have seen her sell these -- >> yes, these are you from her. she called me this morning and said make sure i bring them. >> wendy: thank you so much. >> because i can't give you hair. it's attached to my head. >> wendy: this is another thing. thank you, joan. i'm keeping this. i'm not giving them to my mother. you used to have one of these. >> i did. >> wendy: we'll talk. >> all right. >> wendy: first of all, it's great to finally meet you. >> well, thank you. >> wendy: second of all, you know melissa is probably one of the only women in hollywood who doesn't wear extensions. >> because my mom popped hers out and gave them to you. >> wendy: yes. >> and that's nice. you never go to someone's house empty handed. it's just rude. even if it's something s

>> melissa is a closet technician, folks. remember, 15 is resistance. >> i'm out, greg. >> i think it breaks through -- >> breaks at 15. >> if it comes back to 13, add. >> pop and then a drop for natural gas. >> when was the last time natural gas was actually a pop? i'd love to know that. probably not since last year. probably natural gas it bounced off 2.50 got back to 3 bucks, went back -- eog, apache, devon, xto, we talked last week about owning them. if you do, get flat them now. >> pop here for freeport-mac up 7% on the week. pete. >> freeport-mcmoran, copper, and gold, melissa lee, that stock moves higher this week and it finally got through an area that's been administrative for a while fwhou, a lot over 69, 69.50 area. keep an eye on freeport, it's going higher. >> i don't think you ever called me by my full name. i feel like i'm in trouble. pop for the steel stocks like ak -- >> well, melissa lee was up in china. capacity utilization at 100%. >> pop for aetna. >> yeah, melissa, don't get lulled into it. democrats did

i'm melissa francis. trish is off today. we're going to talk stocks with five-star fund manager donald yakman who has shown returns of nearly 50% in the past year, larry. >> i'm larry kudlow. erin burnett asked tim geithner point-blank 23 taxes were going higher. he didn't give a point-blank ants, but in "the call of the wild "we'll debate if higher taxes are inevitable. this is the call, we are cnbc point-blank. >>> all right. the mark seesawing so far. fedex reporting better than expected earnings. consumer sentiment rising to the strongest level this three months. more on both of those stories in a few minutes. right now we've slipped into negative territory, but we've got positive and negative throughout the morning. the s&p is essentially flat, and the nasdaq right now is trading on the plus side, but just barely. it's also flat on the session. let's help over to scott wapner at the new york stock exchange. >> add to the fact we got pretty good economic news out of the china today, the story continuing weaker dollar, hi

melissa, back to you. >> thanks so much. existing home sales fell unexpectedly in august, down 2.7%. the drop ends a four-month streak of gains. what does it mean for the recovery? joining me with more is dennis yessey, national director of real estate markets at deloitte and touche. dennis, how do you read these numbers? >> well, i read them that they're not unexpected, in a way, because the housing market takes a long time to recover. and we're not anywhere near the end of the crisis at this point in time. remember, it was only one month in august is kind of a funky month in home sales. >> is it, i mean, diana how do you read the numbers? i expected august to still be strong in the back of summer and you expect fall to be a little weak. >> well, melissa, i hate to say i told you so -- that's a lie, i love to say it. >> yeah, own it. >> we were talking about how all the activity was on the low end of the market. and it continue to be there. 70% of home sales were below $250,000. and that inventory supply is drying up. i'm t

>> melissa, we talked about apple all week. what i do like about it, 21-day moving average line is positive. and you and i talked about this a couple days ago. as long as we hold 167, 168 on a close basis over the next two weeks i think it can go up to about 185, 190. a close below 168, 167, i would start to take profits, traders. and remember, always be cautious on a stock that's trading above 150, 180. i mean, these are expensive stocks. you have to own apple but if you're getting into it late in the game you have to be extremely cautious. 168 is probably an inflection point. >> all right, greg, thank you. and we say this again and again on this desk and certainly pete najarian does but apple's s implied volatility, two-year lows on that. and puts are logical -- >> it makes complete sense of why you'd want to protect your portfolio in something like an apple, something like goldman sachs, because you still believe in the story but why not? when you can get it at the cheapest levels in two years, , why wouldn't you buy the pro

i want to know what you think of that, melissa. this isn't that he is african-american or that he has this african name, barack hussein obama, but that he represents the sort of new tide, big city, cultural elite, if you will. >> i certainly think that david brooks as normal has hit something very important here. that is that african-americans are not the only group of people against whom there have been populist movements and certainly regardless of who was president who introduced these kinds of changes. you are certainly going to see importance and organized conservative backlash, especially around health care. there was highly effective backlash around health care reform and the last time i checked they're not only white but southern and white. that that, i think what brooks misses in that arresting autumn argument is that from our very earliest time, as a country, the sort of effort against whether it is the french or the irish or indigenous peoples or african-americans, they've often been framed as simply about values or abou

great to have you with us. >> thanks, melissa.ood to be here. >> obviously there's a lot of talk these days especially with gold hitting a new high in the comex about gold being a momentum trade and one reason for that, one reason for these i want to say accusations but this thesis is the rise of the gold etfs. i read somewhere that 54.2 million ounces of gold were held by etfs alone and that is close to elast year's world total output of gold. do you think that gold etfs are causing this to be a momentum play, that there's some price distortion because of the role of these etfs? >> well, i think there's a general interest in etfs in terms of gaining exposure to asset classes. we launched sgol our new gold etf last week. and it's trading very well. it trade north of 250,000 shares on the first trading day. and just eight days into the market we've already reached about 70 million. and i think that's really in light of investors trying to diversify -- >> there is appetite. but in terms of the role of pricing of gold, i mean, 1,018

a day for the bulls. >> we move -- this happened three days in a row, melissa. let's take a look at the key highlights. they tried to sell them off at the open. and three days in a row, there's not enough selling pressure in the market. it's that simple. up throughout most of the day. most new highs since october 2007, that was the highs in the stock market, remember that? we're not near new highs, but we have the most new high, 52-week high, because of the terrible september and ost we had last year. take a look at stocks moving here. ibm, i call it the most important stock of the day. $120 early in the morning, and boom, volume picked up, and all the stocks picked up. general electric, you know the story with our parent company. they have an analysts' meeting tomorrow. on monday the stock hit $15. ibm, once it hit that critical level, boom, volume picked up and hasn't looked back since then. it scattered across the board here. not like this big sectoral breakout. techs doing well. gold high for a while. gap's been doing great recently. emc following big breako

melissa etheridge.and your guitar. >> thank you. >> i know that's what you'll do for us later as well as we say good morning, america. we're just in awe, melissa. >> that's right. >> we just want more and more and more and, of course h. is october. breast cancer awareness month and who better than you to be singing us home in the month of october. melissa etheridge coming up. >>> give me hope it grows back. look at that. >> longer every day it grows. >> thanks, thanks so much. we'll have melissa coming up -- so they took -- they had the flu shots, the three here and two boys want to keep their muscle shirts on because of the shot they had. >> that is a muscle shirt. this is not a muscle shirt. >> i put back mine on thought to show you up. that's right a little bit of working out. you got the weather. >> we do. we'll show this side of the audience because this side hasn't gotten on yet. good morning, everybody. >> good morning. >> okay, i got to tell you right here let me get right behind you. right here

melissa? >> any sense of workers employed at saturn plants, if they're unionized workers and if they get transferred to other parts of gm? >> a lot of saturn vehicles are built in springfield, tennessee. but that's not the only vehicle built there. there are other vehicles built at that plant. there's not a dedicated plant where gm will say that plant's going away and therefore those workers don't have a job. it's integrated within the company. as for the corporate structure, there are about 12 saturn employees at gm headquarters. they're either going to be reassigned within the company. something will be determined with those 12 employees. what we're talking about here, melissa, is the saturn distribution network. those dealers, who are considered among the best dealers in the country, those dealers who are saturn dealers, they no longer will be carrying the saturn brand, and obviously some of them have other brands that they're going to be selling, but they're not going to be doing saturn in

contessa, melissa?are recalling 20 types of children and infant's medications because of a possible bacteria con dam nation in one of the raw ingredients, an inactive ingredient. the company says the ingredient with the bacteria is not used in packaged tylenol products in stores but was manufactured at the same time, so, if you have tylenol products at home, might want to go to tylenol's website and see which ones are being recalled. >>> an august surge in credit card defaults has experts worried the most is yet to come. >> jumped to 11.49% last month, just over 10.5% in july. the first increase since march. >>> a big shift at citigroup. they are changing course for a nationwide expansion of the retail banking business. "the wall street journal" reports citi will likely abandon or scale back in places like boston, philadelphia and texas. cities expected to instead focus on its sixth largest market in the u.s. >>> banks are under a a lot of pressure to change their ways, chase and bank of america are red

melissa? >> they're going to borrow from treasury. we know it. >> kind of the blind lead tg blind. >> no. at least the banks get paid. they would get paid. >> the government borrows from the private banks. i like it very much. >> steve, you guy are crazy. >> i think it's an interesting issue. the only question is how they pay and i think taxpayers will also pay here. >> it is taxpayers that are paying because the fdic is going to pay interest, where does that come from? >> it would come from the banks. >> the economy grows. look, you've got this positive curve and zero interest rate, but if the banks grow, then everybody's going to be paid off and we'll live happily ever after. i bet sheila bair's taking a close look at this. >> but steve said they're not. >> it's on the table. >> but it sounds like they're tamping down this story as being the leading option. there are problems with going to the treasury aborrowing. >> what's the problem with this plan? >> i don't know what the problem is this

i'm melissa lee. these of course are the "fast money" traders. was today's gain a sign of a good september? your answer and your trades. also tonight, pete with the alpha trade before its big product announcement tomorrow. and karen games the health insurers before obama's big speech to congress. but first, let's get to the word on the street today. do you think wall street was really back today? >> no. but i mean for a taste there everybody's -- everybody's back. no, i think this is another short week. a lot of people are still milling about. but was it an impressive day? nonetheless. everybody seemed to come in, ratcheting everything higher right from the get-go. listen, the market defies gravity right now. i'm clearly wrong. i don't trust it, but it wants to go higher. >> we got past unemployment on friday so today was all about asset allocation. globally you saw overnight the markets around the world, they were strong. you saw money being deployed today. and as much as the sentiment may remain bearish right now if you're a money manager you h

i'm melissa lee. stocks on pace for the best quarter since 1998. these traders have your exclusive "fast money" outlook for the final quarter this year. moving right now we are watching shares of nike jumping by just about 4% profit. blowing away street estimates. karen notes there's been some improvement in the gross margin. >> looks like it's coming from a good job on their expenses. that's a good thing. we'll have to see what they say on the call. that will give some indication for names like foot locker and retail more broadly. >> derivative plays out there. steve, you called bullish activity in nike. >> people expecting some type of a move. yesterday the direction wasn't quite as clear. today more clear. got to admit i completely missed it. volatility did not spike despite the fact over 20,000 of the october 60 calls were purchased throughout the day. a lot of call-buying there. didn't trigger. not sure why. i didn't figure this one out. they are paying about $2 at the end of the day, now they are getting rewarded because earnings were nice. >

melissa, you had asked how this is a reduction of regulation. in the end when you put everything together in one department, i think you actually will have less regulation. u i don't know if that's good or bad. it may be more efficient regulation. the problem is putting the power all in one place without a checks and balance, even though frankly it didn't work the first time. that's where i think what we're going to get in the end is council among all of these departments. in the end i think there will be a meeting of the minds of some sort. >> one thing this does is mutes the power of the fed a little bit. how much confidence do each of you have in the fed? this is one place where larry and i really differ. >> i'm a little wary. i think the big issue going forward here is what coming out of this weekly meeting here of their policy of quantitative -- if bernanke is on record saying we're out of the recession, in my opinion there's no more reason to continue the quantitative easing. i think bernanke as well as greenspan were very loose on their m

melissa carlson has the latest. >> quite a rude awakening, the woman's ex-boyfriend came in and attacked her new boyfriend. the harford county police say it happened just after 6:00 a.m. this morning. they say the man entered the home through a third story balcony wielding a baseball bat. the current boyfriend confronted the man and the living room, where the police say he was attacked. the new boyfriend fought back. >> evidently, when he entered the apartment building with a baseball bat and began swinging it, the victim reached down and picked up a machete nearby, swinging a bat. he superficially cut the man, but there were no stronger injuries. >> even so, the intruder when to the hospital. he later got into a car accident in baltimore and has serious injuries to his back. he is currently in the hospital and the police say charges are pending. melissa carlson, wbal tv 11 news. >>> baltimore city police are searching for the suspect shot and killed a man at a bus stop in the middle of the day. the police said the victim was sitting on a bicycle at the stop in northern parkway and mclea

good evening, melissa. >> hi. nice to see you tonight. >> melissa, we are today, eight years after the 9/11 attacks, to the day, when this nation pulled together to support its president in the midst of a crisis. how did we reach the point in the interim where a congressman felt free to heckle the president, to call him a liar in the middle of an address to this nation? >> well, a little incivility is not necessarily a bad thing, which is to say, i know that there are many democrats, many liberals, many progressives who wished that someone had stood up when colin powell was making his claim to the u.n., had stood up when bush was making claims linking 9/11 to iraq and said, wait a minute, that doesn't sound right. that's dishonest. maybe not in the way that this congressman did, but it's not necessarily always a bad thing to have critique. in fact, i think part of what makes america great is our local flavor, our criticism. in fact, one of the fastest moving internet clips was when barney frank called a woman at a

melissa? >>> how is gm coping in the postbankruptcy environment?hil lebeau sat down with gm vice chairman phil lutz to find out. >> it has been two weeks since general motors began the money-back promotion and wanted to check in to see if is this succeed to bringing people to look at gm vehicles in the show rooms? so far, the company says, hey, listen, we are pleased with the results much the money-back offer is increasing buyer consideration. this morning we talked to bob resultz, the vice chairman of general motors so confident in the success of this program, he believes fewer than 1% of those who take advantage of the program will bring their car back and ask for their money back. >> it is precisely in this undecided vote that we are up anywhere between 14 and 17% and had 1 million visits to the 60-day satisfaction website. what the dealers are reporting and so forth, exactly the effect we wanted. >> it moving the needle for the four primary brands left at general shelters or for cad dirk chevy and gmc, edmunds.com is reporting greater interest,

>> well, melissa, goldman started the rally and really led the market. it was trading 53 in november. it never looked back, never made a new low when the market did back in march. it really has led the market. it went from 53 up to 185. the moving average line is down around 165. think, again, the broad market has to correct because i think goldman is acting in unison with the broad market. if the broad market continues to correct over the next week, couple of weeks, goldman will come down to 165 at minimum. so for me i can't recommend buying goldman up in this area since i'm already short the broad market. i'm looking for goldman to pull back. >> greg, it's grasso. i know that in october it's usually doom and gloom. my question is if we go out to november and december where do you see this market trading at? >> i heard you say at the beginning of the program, you could still look for 1,200 -- >> i can look for 1,121 fibonacci only because you have terranova, adami and grasso. so i've got to throw in another vowel there. >> well, 1,121 is that 50% retrac

i know melissa was talking about the flurry of m&a deals. i want to focus on shanda games, the chinese internet company which trades here at the nasdaq as well. this is the biggest ipo in the u.s. that is significant in and of itself. a little after 11, and it down about six and a half percent. you have to focus on the fact that we have had a pick up in ipos as well. >> all right. thank you so much. before we go to our next story we want to bring you these comments coming from ahmadinejad, the irania-r irani president saying that they are completely legal. we are going to, of course, be on top of the story. you are seeing them at the bottom of your screen as well. google made headlines when it announced that the acquisition s s spigot had been turned on in a big way. that could mean a deal bonanza in tech. >> the amount of cash out there is absolutely staggering. we talked about apple all the time because it's $33 billion in cash seems to be bigger than everyone els. apple does not have that robust of an acquisition strategy. wall street say

so i'm not seeing signs that people are worried right now, melissa. i think rather that people are positioning to hold on to gains they've got. they've already got protection in place. there's not that panic, that scramble that occurs when people go get it. >> if you take a look at activity, there's heavy pit buying when it comes to efts, financials, technology, et cetera. people aren't willing to have things called away from them. >> they don't want them called away. although i did. i said that this weekend at that philly conference we had. i was 92% invested into expiration friday. not that i'm smart. i was out on monday the next week, down to 8%. why is that? because options expire, folks. all those in the money options i'd written, took the stock away. i was fine with that. i'm very confident i can reload at any point here and mr. grasso can tell us except on days like today when the volumes are lightish because of yom kippur, there's plenty of liquidity to get in. you don't have to worry, am i going to miss this train? >> liquidity is definitely

i'm melissa lee. stocks hitting new highs for 2009.se guys are ready to tell you where the fast money was playing today. also tonight, rick santelli gives his always loud, always provocative view of the fed. later on "options action" a stock that was lighting up traders' screens everywhere. should it be on your screen? but first let's get to the word on the street right now. and it seems right now that we have to follow the dollar in a sense because a lot of the market is dependent, about 18% of the market is dependent on the direction of the dollar. >> well, follow the dollar. follow essentially where risk compression has taken assets to, and people ray lot more comfortable now than they were coming into monday about what the fed's going to give us tomorrow, what the g-20's going to give us. they have no place to go in terms of pulling in stimulus. they can talk all they want. that was the digestion of this. we're going to maybe show a chart on the dollar in a little bit. but the reality is if the dollar continues to weaken and not on

so i don't believe in coincidences on wall street, melissa. i don't think you do, either. >> you got that right. dr. j, always good to see you. >> my pleasure. >> all right. time to go trading the globe. spanish banking giant banco santanneder saying it would sell shares in its brazilian unit. if successful it would be brazil's largest ever ipo. and of course tim the ambassador's been following this one, haven't you? >> it's an exciting story because it's certainly a reaffirmation of sanspander's commitment to brazil, their middle class has grown by 13 million people in the last five years. again, the middle class. the ability of them to reach out is what's astounding here. this is a very big deal. what would be more impressive is the valuation it actually fetches. but for santander it would be 20% of their revenues. they expect it to be between 25 and 45 over the next ten years. it tells you what's going on south of the border. brazil's an economy that's a domestic story. as we look to bralz it's been a market that's up 65% this year, 105% in

melissa carlson has more. >> < 24 hours after the gruesome discovery, maryland state police know much more about the family. they say that 37-year-old jennifer dalton, charles dalton jr., and 7-year-old emmaline were found shot in their head. they believe that the person responsible as charles dalton sr., who was also found dead with a self-inflicted gun wound to the head. the big question, what could have led to the murder-suicide? >> there is preliminary information the family may have been having financial difficulties. that is part of what the investigators are continuing to look into. >> neighbors say the family was having a hard time selling their home. iemmaline was a second grader. charles dalton jr. was a freshman. we spoke to a member from the fire department and they said they had no idea who was inside the home until hours later. >> it is tough for everybody. our junior members, they were quite upset, understandably. we brought them all together with their parents at the station and brought and a critical incident stress management team, which helps these people deal with

it's a prickly issue for them. >> melissa, thanks so much.elissa francis joining us live from vienna, austria on the sidelines of the opec meeting. >> just to drill down real quick on what the oil trade is right now right here, talking about opec, forget it. compliance rates, they have fallen from 78% down to about 69%. it is about inventories right now when you look at oil, there's been a fundamental shift where we are beginning to work off existing inventories. you're going to get another report tomorrow. if there is another drawdown, you're going to see oil prices get above 73 bucks. >> i would also say look at the dollar very quickly because last may of 2008 with the dollar around 73.50 on the dixie, which is about 2% from here, or was it 1.25, demand fundamentals are not that different. the saudis were the first to till they were on imbalance last year so look where oil could go. >> the world's largest business management software company s.a.p. indicating strength in business tech and software spending through the end of the year. joini

melissa carlson has more. >> family members said they had not heard from him in a while, so they went to check on it. the granddaughter of the victim actually made the gruesome discovery, and now, police are asking the public for help. there received a call friday night from a woman he saying that a family member, 74-year- old david weeks, was in cardiac arrest, and when they arrived, he was dead. they are willing as a homicide. they say that he lived with the couple rented a back room, and they say that the van he drove has not been seen since his death. >> i am shocked. i am not surprised. you know, trouble -- whoever might have done it. >> we do not add anything further to tell the public with the exception that we do not believe this to be a random crime. we believe he may have been targeted. >> if you have any information, you are asked to call metro crime stoppers at 1-866-7- lockup. >> melissa, thank you. despite efforts to stop him, new york governor david paterson says he does want to run for office next year. >> new york governor david paterson insists he is running for gove

and melissa hars-lacewell, prfessor of politics and african american studs at princeton universi.tart th you. how mucdo you think race is a part of at we are hearing, this anger we've been heari during the past couple ofonths espially? >> certaiy, no one can quantify the percente or the amountf criticism and exactly what 's coming from. there's no estion people have princled disagreement with the president. there's also no questi that if one h principled disagreement with a persoof color and you choose not express it simply because that person is bck or latino or asian, that tt is actually re racist than going ahe and expressing your disagreement. but i think it'slso clear-- and this is what predent carter ked us to think about-- that in this particular contt of american htory, at this moment with a black presint, we needo be particularly ceful about how we frame and w we talk about our disagreements because it's car also, that racial anims and bigotry, has found its wainto e opposition in a way that's quite distracti from the principled positions t opposition may have >> ifill:or

thank you very much, melissa. now returning to the principal theme. president obama is looking to hit the reset button on the health care debate with a rare speech to congress in about an hour. but just what does he need to say? here's senator evan bayh and judd gregg. gentlemen, thank you ever so much for coming on the program. senator gregg, you know, i have excerpts from the speech. i don't know the entire speech, but one of the key paragraphs right at the top p. mr. obama says we have witnessed a partisan spectacle, unyielding ideological camps scoring political points. he can referring to the summer debate, senator gregg. what is your thought on that opener? >> not too constructive. in fact, here in the senate i don't think it's been a partisan spectacle at all. just the opposite. you've had really serious members of the senate working hard in the baucus-grassley group. you have a partisan bill that has 20 senators on it, ten republican, tenkrats. i happen to be a co-sponsor of that. and you have with people like evan bayh a bunch of folks who wo

more from cnbc's melissa francis. joe wilson, i'm sorry. poet he apologizes for heckling the president. talking to luke russert who got to face to face with the republican at the center of today's political firestorm. more ahead on quit's the economy." back pain in the morning, back playing in the afternoon. excedrin back and body has two ingredients to block and relieve the pain. doesn't your whole body deserve excedrin strength relief? excedrin. what ache? ♪ is to get as far away from it all as possible. don't let erectile dysfunction get in the way. ♪ viva viagra! viagra, america's most prescribed ed treatment, can help you enjoy... a more satisfying sexual experience. ready to talk to your doctor? find out how at viagra.com ask your doctor if your heart is healthy enough for sex. don't take viagra if you take nitrates for chest pain... as it may cause an unsafe drop in blood pressure. side effects may include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection la

this is melissa shannon. hi. hi. how you doing? melissa is reading for elaine. it's like a bald convention out there. sorry. i, uh, made a faux pas. no, you didn't. he knows he's bald. how about that guy wearing sweat pants? is that for the part, or does he walk around like that? ok, shall we start? you know what? i'll read with her. oh, great. oh. all right, want to start? yeah. ok. ahem. what was that look? what look? that look you just gave me. i gave a look? yes. thank you! thank you very much. next we have a kramer. hello. how you doing? hi. how you doing? good. what is this about? levels. levels? yeah. getting rid of all my furniture. i'm building... levels... with steps... completely carpeted... with pillows. like ancient egypt. how can you be comfortable? oh, i'll be comfortable. very nice. very good. very nice. tom, that was terrific. thank you for coming in. it was a wonderful reading. yeah, really. well, bye. take care. take it easy. i thought he was really good, very funny. yeah, i liked him. what happened to the raisins? yeah, there was a box of rai

i'm melissa lee. here's where the action is tonight. wake up. will the market give a rude awakening next week? is the best yet to come in best buy? out with earnings tuesday, but we'll duke it out tonight over your best options. and called out -- >> i want to buy the november 149 put spread. here at the desk of the world's third largest options market and across the street in the windy city of chicago, some chills emerging in options land with some warning signs in the financials. so how will the stock market spend less to make more? goldman sachs quietly making a 52-week high. but will equity traders rejoice, options traders did not. placing bearish bets in wells fargo in particular. now mike, how do you interpret this action? >> well, one of the things we keep talking about is volatility is coming out of the market a lit bit, but that doesn't necessarily mean as it continues to rally, everybody is completely complacent. that's not what we're seeing here. wells fargo hasn't really participated obviously compared to a name like goldman sachs. a

i'm melissa carlson. that story coming up. >> welcome back to "11 news saturday morning."nk you for joining us. >> we'll get to our top stories in just a moment. fall is going to be here and it is going to be a wet day, right? >> the whole weekend, it is a 50-50 split. we're starting off fine, the middle of it maybe not so great, and then the end of it not so fine again. >> like a sande sandwich. ? >> yes, we are piling it all on one side. you have to plan your activities. cut the grass this morning. that's one tip right there. >> give it some time. early this afternoon. >> i think you get the impression what i'm talking about here. if you look at the radar and satellite combined. clouds are over the area. it is not a solid cloud. there are thin spots here and there. we will see a little sun trying to breakthrough this morning. that rain out west, that shower activity it is not coming in initially. that initial bag of rain will have a hard time getting as far north as the way bay. but the stuff as far back as tennessee and kentucky, that's a more significant string of mois

melissa an, al. zeier a beijing. >>> now our signature report, part two of our lo this week at women in the muslim world. tonit we want to exple some the pressures that you muslim women face, particularly those who become pregnant ou of wedlock. recently egyptiaborn corresndent holda osman traveled toorocco where she met one such wom and anoth der woman who rescueder and other yog, single mothers o are often shunned, shamed and scorned. >> her daughter fat ima is almo a year old. ke most young moers, maria delights in fa timma. fat ima has never met herrand parents although theyive close by, that's because of sothing she doesn'have, a husband. >> translator: having a child without a father isot aneasy thing. >> when merriam was jt 19 years old and still a stunt, she got pregnan her boriend refused to marry her and in moroccan society, bearing a child witut being marry side source of dp shame. meryem said e considered suicide. instead, she ran away without tellg her parents abo her condition. >> trans

always good to sigh. >> melissa, crew, how are you today? >> let's start along with the nasdaq because it can has been a lead leader for quite some time. >> i'm getting extremely skittish here. i know joe has defected. guy certainly has his worried with this market. i feel the same way, and i'll show you why. the nasdaq went from roughly around 2,300 back at the end of '07 down to around 1,290 this past march. the recent move, 68% here, not that high, but we've come back 62 persian of the 62% of the entire loss. that outpaced the entire s&p. the low this past march was not lower than the correction we had in 2002. the s&p, we did violate that low. we did not in the nasdaq. however, the correction of making up more than 62% of the entire losses in the last six months has me extremely skittish. and the other reason is we're well above the 200-day moving average line. i've got to tell you, guys, the next couple weeks we could have a pullback here and it can could be meaningful. >> so you're using the nasdaq as a catalyst for the direction of th

i'm a buyer into the bell. >> phil. >> stay long, melissa.0. >> and brian. >> i'm a little neutral. congratulations on the nomination for "options action." i knew you would take the show destined for greatness. >> i'm blushing, brian. thank you very much. "options action" is tonight at 8:30. that does it for us. we talk to the brains behind vegas' latest craze, live sporting events betting. coming up, the "power lunch" debate. what's the smart play, dividends or real estate. >> ron einsana is in the house. we'll talk about general motors. >>> plus, angry investors pushing for $50 billion in money tied up in lehman brothers bankruptcy. we'll talk to the attorneys who are trying to sniff out that missing money. >>> around new york's football team won't be the only giants at the new dallas cowboys stadium when they square off this weekend. back in a minute. >>> this is cnbc.com news now. >>> partsmaker vison is asking a bankruptcy court for permission to drop various contracts it has with general motors. >>> fha commissioner david stevens says h

ia yeah, melissa, they just opened up to question and answers.letins in the call but not in the press release when those earnings came ought out. again, that's a little bit lower than the 9.5, the 9.8 million that wall street was anticipating. rimm also anticipating average selling prices, those asps of $320 in the third quarter. and the reason for the decline, according to jim basseli, the company's co-ceo there is because of the higher priced blackberries scheduled to come out are going to come out toward the end of the third quarter and that is going to affect the asps ahead of that, because again there's only going to be a few weeks of sales of those products available on the balance sheet for that quarter. gross margins will come down about 4 throw% over 44% for the company's second quarter. and the reason for that is opex, operating expenses will be increasing in the third quarter as rimm increases the amount of money it will spend on product marketing, because, again there, is a pretty stuffed product pipeline at the company. a lot of new

melissa carlson has more on this development. >> the alleged suspect did not bring friends with her on the trail but soon found out she was not alone. >> took them out on the bicycle, i've never walked the trail, we decided to walk the trail with the kids. >> gail patterson and her family decided to jog down memorial park, they were not expecting to hear a woman had allegedly been assaulted on these trails. >> i thank god nothing actually happened to me and our kids. it could have been worse. i mean, that's sad. >> an anne arundel count di officer said a woman in her 40's was traveling on the trail when she came on a young teen who was having bike trouble on the side of the trail. once she passed him, he attacked from behind, he placed his arm around her neck. another man came up on the trail and the attacker left. one man who saw the woman said she was bleeding her knees. police stopped every car leaving the park, asking to check their trunk, looking for the suspect, an african-american male wearing a black shirt and riding a bike. this woman says this should be a cushion nare trail.

as melissa chan reports from beijing, that has left a lot of people hoping that they don't fall ill.reporter: every morning these residents in their 70s and 80s practice tai chi in the park. the exercise helps maintain health and longevity. for their age, they are in excellent health, but their age group also sees the most hospital visits, something they can ill afford. if you don't have money, you don't have any choice.$ñ(q if you don't have money, you don't go see the doctor. i haven't, we haven't had to spend tens of thousands of dollars. >> but that's just what you need in china tens of thousands of dollars when things go wrong. china once had universal health care, but the changes that create a market economy also saw the introduction of a multi-tiered and highly confusing health system. a decentralized, partly privatized, sometimes government subsidized frankenstein. it's very difficult to keep track of over a billion people's situations, but what information we have suggests the majority of chinese have no choice, but to pay entirely out of pocket for doctors and hospitals. >>

i'm melissa long. >>> banking fees are going up everywhere. and up. from bounced checks to atm charges. a look at what you are paying versus what you were paying. >>> and want to get -- go to the most magical place on earth for free? there's a catch. we'll tell you what you have to do. at 5:30. excuse me, mary? what? okay, ah. verizon's internet and phone package give us more for less - speed, security, online storage and free wi-fi! that's the edge our small business needs. tom, look what i found. verizon could help us be more productive within our budget. well done, mary! i know. boss, i found the perfect solution from verizon... great work tom. (tom) yea, well, you know. tom stole my thunder. i'm a machine. thunderstealer-tom. (announcer) want the perfect solution built for your small business? switch to verizon and get more for less. call the verizon center for customers with disabilities at 800-974-6006 tty/v and for just... you'll get it all: a dedicated high-speed internet connection from our office to yours, unlimited nationwide calling, 50 gi

we were able to get melissa bailcy at the new haven independent was able to find his former girlfriend on facebook. and was able to get some information that way. and she said that that whole -- that realizing what he had been accused of made her feel like the vent was right back -- 16 all over again, very distressed and -- >> she was distressed about the annie le situation? >> yes and distressed this brought back her own memories of her own situation with him. she said, it's been a rough few days. >> let's take a quick break. we'll have much more on that coming up with dr. clay watson on that front. we're seeing now some history here and we'll take your calls on this. 1-8 7-tell hln is the number. i'll get your calls when we come back. >>> singer chris brown has been ordered to do community service for the beating up of his girlfriend rihanna. here is our weekly features what matter. >> the bigger problem is african-american women in domestic violent relationships. why is it so prevalent? randy went looking for answers. >> reporter: this woman lived a nightmare for six long years. day