. >>> live from the nasdaq at the world's largest i'm melissa lee. these are the traders here in times square. stocks rebounding. off the lows today. still feeling the pain from spain. the best third quarter in two years is in the books. there is only one stock that america seems to care about tonight and that is facebook. shares surging more than 6% after it announces it will move into the e-commerce space. is america's long national nightmare over? let's find out. a game changer for facebook? or just short covering? >> not likely. here is the situation. the sentiment was so poor heading into the last few weeks and we saw the bounce it got off of zuckerburg's speech at the tech crunch and the way it sold off after a cover story suggesting that the stock is worth $15. today these guys are so levered to desktop advertising. the whole question is how will they monetize global. today they introduce something where they are a gift giving service where you do not have to leave facebook. there you go. all of a sudden, there is one of the things that he has

i'm melissa lee. >> thanks for watching. for more options action go to our website.ee you back here next friday at 5:00 eastern here on cnbc. meantime, "money in motion" is up right after this break. this is the extra edge you need. it's free when you register. visit the member center at cnbc.com. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account.

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. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. these are the traders here in times square and in beautiful los angeles. think the market was quiet? think again. huge moves today for banks and materials. the rally is finally broadening out. central banks seemingly in the bag, how long can this last? let's find out. of course, among the big gainers of the week, bank of america, up 10% this week. freeport, caterpillar all having some huge days. are you finally a believer? have you come around, dan? >> i mean, listen. the price action this week was amazing. to me it's the technical setup is what really happened about. we talked about it earlier in the week here. you know, guys were gunning against this double top. you know, it acted like a coiled spring. it didn't take a heck of a lot of news. one point here. what did the ecb do? they announced one of the most telegraphed bond-buying plans that were helping to stop systemic risk to the system, okay? >> uh-huh. >> so today we have this -- we basically the market consolidated a little b

live from the nasdaq market site in new york city's times square, i'm melissa lee. let's get to michelle caruso-cabrera with the very latest. michelle? >> day two that we saw protests in spain. in fact, just half an hour ago, there were still thousands and thousands of spaniards in neptune square around the parliament protesting. luckily tonight it was not violent. but last night, it definitely was. dozens injured, dozens arrested. the reason they are protesting is because tomorrow spain is going to release a new budget for 2013. it's expected to have cuts to social spending and also hikes in taxes as well. and so they're pretty angry about that. they're very, very tired of it. they've seen their economy falling. they've seen very high rates of unemployment. as high as 50% for young people. we also saw violence in athens greece, today as well. they were protesting there as well because you could say, same story. another round of cuts of government spending which will mean lower salaries, pensions that could be affected as well. a lot of the details haven't come out,

. >>> live from the nasdaq market site i'm melissa lee. these are the traders here in times square. it is official apple mania has swept america. the new iphone is out. it is faster, sleeker, lighter and there are rumors it can solve world peace. can it make you money? let's get into money and find out. dan, you actually have one fresh from the store as do i. it is pretty sleek and pretty cool. what are your impressions in terms of whether or not this will move the needle for apple? >> it will. we have a situation about smartphone penetration. at this very moment apple has the very best smartphone on the market. you couldn't say that last year. they didn't have 4g. they didn't have the screen that some of the android phones did have. now they do. the thing is the best. don't forget about the ios ecosystem that is tying it all together. that is one of the reasons why after my galaxy stint for a week i'm back to the iphone. >> i like the google maps. are they cueing up around the block to buy the stock or thinking this is an opportunity to try to cash all of the enthusiasm. >> dan say

. >>> live from the nasdaq i'm melissa lee. these are the traders here. we will get to the trades in a second. the fed fix is in. stocks hitting five year highs today in hopes of more stimulus. the goal tonight is clear, give you names and strategies to profit. let's get into money and start with our resident. do you finally say uncle? >> the fix is in here. we have the election coming up. in a lot of ways we have to consolidate some of the price action we have seen. we are starting to see the financials the way they participated. we are seeing rotation out of defensive names. it probably has to consolidate. we are going to need to see consolidation at the multi year highs. >> what are you saying in terms of call activity? >> we saw a lot of people trading heavily in the financials. so all of the big money center banks saw a lot of activity. right afterwards what was interesting yesterday we talked about it briefly was the fact that we saw people buying calls on tvt and puts on tlt which is a bet against long term u.s. treasury bonds. those were very prof

i'm standing in for melissa lee. these are the traders in typewriter. the markets are getting a bernanke bounce. the dow, nasdaq, s&p and gold higher on hopes of more qe. but, there was one stock that was really breaking the hearts of retail traders yet again and that would be facebook. is there any hope for this fiasco? let's get in the money now and find out. i believe this performance comes on a day that tech was quite strong. >> it was quite strong. first things first. you thought you were going to have us talk to a chair. >> that's later on in the show. >> listen, we had the bounce and a lot of risk assets. i don't think investors would categorize facebook as a risk stock. the thing closes at all time lows. you have a real sentiment shift. it's getting worse and worse. people had targets in the stock when it ipo'd in may. now they're hitting in the teens. the stock can't find a bottom. >> let's get the rest in here. >> i think that there has been a lot of speculation since well below the ipo that this was an overpriced stock but they are not really

. >> live from the market sight in new york city's times square, i'm melissa lee. mary thompson has the detail. >> i'm having trouble with my ifp here. goldman sachs cfo is retiring. he is going to be replaced by harvey schwartz who is the co head of securities at goldman sachs. he will become a non independent director and the company plans to appoint some non independent directors. mr. vinier is the longest serving executive and one person called him the best of the best. the conference call with mr. vi vin vinier starts right now. >> thank you. shares are trading slightly lower. i thought what mary said was that david vinier was the best of the best. who was harvey schwartz? hum? >> this doesn't change the uncertainties hanging over goldman though. if you look at where goldman has gone in the last six weeks, this is a stock that is priced in a fair amount of good news. a wall street legend who is retiring is not going to be appla applauded. the stock gets pressure but not a disaster. tim has it right. going into this. we have everything and i bet you have somebo

. >> live from the nasdaq market site in mork, i'm brian sullivan in for melissa lee. i believe she's back tomorrow. you're welcome, facebook ceo disclosing that he has no plans to sell facebook stock in the next 12 months. let's get to the very latest. julia? >> that's right. facebook filing an 8k with the sec. that headline is mark zuckerberg, he will not sell any of his shares for at least 20 months. he holds 444 million class b shares. there were two directors who will be selling. it is suggested that both directors will be selling some stock but only to settle some tax obligations. mark just telling us that these were stocks were awarded one he became a director of the company. there are interesting things the company says they will be announcing their next quarterly earnings on october 23 and that employees will be able to sell their shares as of october 29. i believe that is moving that up from november 14, which was when they were previously going to be able to sell shares. and with holding 101 million shares to handle the tax op ligations. it appears this will

. >> "fast money" begins in a few minutes, melissa lee has a preview. >> we've seen in financials asell as technologies, and one of the biggest losers of the s&p 500 today. the ceo says verifone is in a great spot, it's been a short that's been working and she will give us a update on that. >> thank you, we look forward to seeing you guys. all eyes on tomorrow's job's number. a trio of wall street's best market jobs will tell you how they plan to play that. plus -- >> for the last two years, health care costs have been under 4% in both years for the first time in 50 years. >> former president clinton last night may have roused the masses in charlotte, but how does it hold up? we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got

." >>> live from the nasdaq markets i'm melissa lee. apple crossing above $700 a share in the after hour session. it has been trying to make a run. what do the markets say today? >> the option markets say this stock could potentially go higher than 700. we have been seeing activity for quite some time a little higher than where it had been trading. ever since it broke above the 52-week high it has been off to the races. the news about how fast the iphone 5 orders are just extraordinary. everybody on the street are excited about features whether it is thinner, lighter or faster and the build out into the entire ecosystem. add the ipod part of this to the iphone 5 some of the refresh this stock could see 750 in not too many sessions. >> you were excited about the features. >> it sounds just like me. thinner, faster. >> you are lighter. absolutely. >> again, every dip looks like the world's coming to an end in terms of apple. every time it has been a tremendous opportunity. now you haven't seen one. you were hoping to get one last week on

>> thanks, melissa lee.ions of german newspapers and of course some of the european papers in english as to some of the anxieties the conservative tranche in germany are feeling. they're feeling bad vibes with some of the bailouts angela merkel seems to be in agreements with. this is simple. politicians can make all the promises and create the best plans. ultimately they need the sponsorship of their voters. this certainly is going to be the big second chapter. we'll get an opening taste when dutch go to the polls on the 12th. crisis, post crisis, do we need more fed programs? i can't get out of my mind how senator chuck schumer basically pointed his finger when ben bernanke was on the hill a cup of visits ago and said get to work. meaning politicians aren't going to do anything. they're in campaign mode. but the biggest story being a chicagoan today is broken promises. and this really is not just a chicago issue. it's not just an illinois issue. it's a national issue. it gets played out on tv before the nat

." >> live from the nasdaq market site i'm melissa lee. another case of the mondays for stocks. caterpillar lowers a 2015 guidance. is the rally at risk given caterpillar seems to have clarity. >> up to this point -- hi, by the way. negative earnings released. today's another good example of that. the market rallied back unchanged. we are going to find out. caterpillar obviously the name. caterpillar traded well this year. caterpillar started around 115ish and managed to trade down to 78 before bouncing. the market has been able to shrug off the stock woes. you need these events to slap everybody back to reality. how they have clarity 2015 is beyond me. >> the thing about this is if you listen to caterpillar you should get worried if you listen to it in the same sentence of vhp. this is caterpillar saying no longer will we see the global demand that spurred the last five years of this rally. i would be very concerned listening to caterpillar. in terms of share price and valuation i think they have given a sober outlook for 2013. these guys said they are ready to change their vie

." >>> live from the nasdaq market i'm melissa lee. a dramatic move in apple today. the stock continues to fall ahead of the release of the iphone 5 on wednesday. >> i don't know the answer but i know if you are holding apple in your portfolio you had to pay attention to the price action today. i did. puts it under the market. augu august 31st, $6.57. i think when you look at the earnings in october they are not going to be good on the iphone side. you saw the numbers slide to 25 million last quarter out. i think if you want to make an absolute call you look at the second derivative plays. those were all down 5% today. that is where you need to make the decisions in or out. apple you hold it. >> where do you stand on the price action hitting a new all time high. >> we had a couple of these and had it on the samsung. if you can read the acid coming through my twitter page at me it is unamerican to say apple sl put at short term top. the price action into this event has been extraordinary. you have a 7% move into this number. i think the fact that the media has been so

i'm melissa lee. thanks for watching. "mad money" start right now. >>> i'm jim cramer. welcome to my world. >> you need to get in the game! >> firms are going to go out of business and they're nuts! they're nuts! they know nothing. >> i always like to say there's a bull market somewhere. >> "mad money," you can't afford to miss it. >> hey, i'm cramer. welcome to "mad money." other people want to make friends, i'm just trying to save you a little money. anyway job is not just to entertain you but educate you. so call me. when does hope have to be realized? when do we have to see good news from governments around the world to really get behind stocks and do some buying? that's something i heard about a lot the other day when the market refused to tank for most of the day despite the terrible chinese data last night and finally took a turn for the worst in the later afternoon and nasdaq declining 1.03%, including a big hit in apple. even then we weren't down as much as the pessimists thought we should be and will be for that matter. we keep waiting, for example, for some s

." >>> live from the nasdaq markets i'm melissa lee. crude dropping below $92 a barrel today and down 7% this week. what should we be reading if anything into this drop in crude. this is six week lows here. >> inventories are coming out at high levels. when you look at the energy trade and try to determine what is the right trade for me sitting at home the trend is your friend. i added to my valero position. it is about refiners able to benefit from the bursting of inventories. having traded crude for over 20 years i understand that crude oil gets in a pattern where it disappoints the bulls and the bears. wherever you think the spot price of crude oil may be going it gets in a mood or mindset where it will disappoint you. you have a releaset that will limit the upside. on the down side you have the potential of what is going on with iran and israel. >> i thought this was about ben bernanke and qe eternity. from here to q eternity in this case but inflating all commodities across the board. what happened? >> well, first of all, crude oil

. >> i'm melissa lee. thanks for watching. got a special interview with the ceo

>>> live from the nasdaq market outside of new york city's time square, i'm melissa lee. what is really driving the action here? josh brown, you're sitting in front of your screens. around noontime or so something turned around in the market. spain seems like the answer. >> today the narrative is that spain unveiled a budget and it was a lot more amenable to what they thought northern europe would approve. there's pent up money. that gave them a reason to buy their favorites. they came in and did just that. it's another situation where flows are trumping fundamentals because if you looked at any of the economic data this morning, there was nothing to like. literally nothing to like starting from durable goods, gdp. i think people have money to put to work. today they said, spain's good, let's buy. >> i agree with that. people are looking to jump in on any positive news out of europe. i think underneath that are the technicals that you have to pay attention to here. the market's giving you these strong levels of support. today it was right around the 1425, 1428, 1430 level

melissa lee with a preview. >> top of the hour on "fast money" if you're like most money managers out might have missed the big market rally this year with one week left to go until the fourth quarter our traders will give you the catch-up trades for the last quart canner of the year. facebook slammed by barron's, slammed by goldman sachs triggering circuit breakers. and we have the man who says las vegas sands could be almost double if it breaks up into three companies, including two reets. >>> new reports on housing and consumer confidence could move your money first thing tomorrow morning. three of wall street's top money pros on what to expect. at optionsxpress we create easy-to-use, powerful trading tools for all. like our all-in-one trade ticket. we put strategies, chains and positions all on one screen. start trading today with optionsxpress by charles schwab. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ h

melissa lee with a preview of the markets. >> at the top of the hour on "fast money", we're talking appleause that may be the key to the markets. did it hit a near-term high in today's session? our traders give you the lowdown what it means for markets going forward. barbara corkrin on whether housing prices have reached the bottom. does china have the cash to stimulate the economy? the ambassador has all that and more at the top of the hour on "fast". >> markets are awaiting more stimulus from the federal government. our trio of top stock jocks will weigh in. be careful who you vote for. why france's richest man is leaving france for belgium. in america today we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone's ready with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. ma

i'm melissa lee. thanks so much for watching.

melissa lee with a sneak peek. >> hey, maria.the hour on "fast money," i've got one word for you. we're looking at the tech crunch conference where mark zuckerberg will be giving his first conference since the facebook ipo. and then which stock looks like it could be headed for a breakdown? it's been a market leader on the s&p 500. tune in for the name. all that and much more, top of the hour on "fast." see you then. >> all right. we'll be there a few minutes away. we'll turn up the heat next on the marks. tomorrow morning, what's going to move your money? stick around. what they say could put extra bucks in your pocket. then my observation on american resilience 11 years after the day that changed everything. back in a moment. we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can

melissa lee with a preview. over to you. >> hey, there.ur on "fast money," our traders are giving you the top trades for q-4 and what was mind today's rally. are things in spain really that much better? of course, we'll be on the after hours kvr hours conference calls for nike as well as r.i.m. we'll get the low down behind it. all that and more top of the hour on "fast." see you then. >> all right. we'll be there. meanwhile, the economy keeps slowing down. investors don't seem to care. my observations are coming up. first, we'll tell you how to prepare for tomorrow's opening bell, the last trading day of the quarter. stay with us. we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got

." >>> live from the nasdaq marketsite in new york city's times square, i'm melissa lee. you might as well call it the market that just won't quit. stocks managed to rebound today. but should you be on the lookout for what could derail this rally? we thought we'd put the traders to the test. we always like to put you guys to the test. we came up with a multiple choice sort of. one of the answers is going to be right. what could derail the rally? a, fiscal cliff. b, inflation, c, unemployment, d, china slowdown, or e, none of the above. it is very exciting to see where you guys sit on all of this. >> the bigger risk factor beyond the multiple choice is earnings. you could say "a summary of all the above." earnings slowing is a big issue all of a sudden. it's one thing ben bernanke hasn't been able to bend. norfolk southern down today 9% on a big volume miss, there's a lot going on there. broad base growth slowing is starting to translate into earnings. when you look at the bull case, growth is good, earnings are great and stocks are cheap but now you have earnings at risk.

i'm melissa lee with jim cramer and david faber live from the new york stock exchange. carl quintanilla is in san antonio preparing for a very important interview on this very big day. carl? >> hey, melissa. obviously a lot of reaction from the gop expected later on this morning as we got the jobs number. 96,000, as you point out, 8.3% down to 8.1%. the big question will be what is politically more potent? the payroll number or the unemployment rate? if we have time, we hope to get the vice presidential candidate on bernanke, on the likelihood of q.e. 3, on the deficit, on what obama and clinton said earlier this week at the dnc. a lot to get to. but a lot more corporate news in addition to job this is morning. i know you guys have that covered top to bottom. >> we look forward to that interview. we want to get you caught up on where the futures markets are standing. we had a big global rally. here we have the futures markets have pared their gains. keep in mind that the dow had closed at the highest levels in many years here, since december '07. holding on to some gains

back to you, melissa lee. >>> let's get an update on emergency and metals.llip is live for us from chicago. great to speak with you. let's start off with the picture in oil here. we dip below 90 for the first time since early august. which way are traders betting? i heard that as we enter quarter end, a lot of traders were actually alongwell for a long time. >> it's going to be a very tough trade for them. we've been down about 10% in the last six sessions. we're sitting right around 90 dollars. got resistance up at about 96. concerns over global growth. got saudi arabia, they're going to ramp up their production all the way until year end to try and keep those oil prices down. but the real picture is the department of energy. their inventory, if you look at at the tall stocks for the five-year seasonal average, is sitting right around 370 million barrels. that's their inventory. the five-year seasonal average is down about 325, so we're 10% over. remember last week we had a build of 8.5 million barrels. this week we're expecting a build of two million. if y

mechanical melissa lee, back to you. >>> let's get the road map for the next hour.rise, we start with all things fed. we'll look at all the moves and tell you the best way to play the qe3 bounce. >>> we are watching one stock that could yet hit another all-time high. no, not apple. disney running at an all-time high today and theme park revenue sliding. >> former ecb president jean claude trichet speaking exclusive with cnbc today. >>> first, a judgment from the federal reserve yesterday that still has a lot of people scratching their heads, though the markets around the world are clearly basking in its glory. steve leisman has the very latest on an important historical moment with its indefinite buying. >> no doubt you have the right adjective there, simon. the dust has barely settled on what the fed did yesterday. economists calling it a sea change in policy. but speculation already ramping up on two key issues. how long will the fed keep this going and what might be next in addition to mortgage backed securities? already saying early next year when you expect the

i'm melissa lee live from the new york stock exchange. let's see how u.s. futures are setting up. we are looking down across the board at the three major indices. taking a look at german, sentiment fell for a fifth consecutive month for lows not seen since february 2010. the biggest losses felt right now in spain. our road map this morning starts with apple. five million is the number. five million sold during the first weekend of sales but that was short of expectations. down about 15 bucks a share after retailers were given a handful of phones for launch day. >> another beat estimates and this time it is lennar. meanwhile, the earnings for k.b. homes was beat. >> some wonder whether it may be time to take the money off and sit out the are rest of the year. >> welcome aboard, united health care. make yourself at home. unh replaces kraft whose new name is really, really weird. >> yeah. >> mondalese. it's very unusual. meantime, apple announcing they sold more than five million iphones in just three days but that's less than the eight to ten million expected. apple expect the iphon

i'm carl quintanilla along with melissa lee. david faber. jim cramer is off today.were decent, down 26,000. a miss on durables, although there are some internal factors there. also revised second quarter gdp, although those numbers are almost three months old. europe, a lot of speculation around the globe about what the chinese central bank may or may not do next week as we've got

i'm carl with melissa lee, jim cramer, david faber. markets are awaiting the fed's decision on interest rates this afternoon and in the meantime, chewing on wholesale prices jumped the most in three years. 17 in august. gas prices largely to blame. europe, some losses there centered mostly in spain although italian bond yields coming down sharply. road map is morning begins at the fed. will bernanke give the markets qe3 and how long rates will remain low at the feds press conference today. >> some say it's a significant redesign. others say it's a sleeper. whatever you think of the iphone 5, it's keeping apple shares moving higher. >> number of big downgrades this morning. citi cutting ratings on intel. amd says pcs are losing the battle against tablets and smart phones. >> and a very special guest. the ceo of j. crew. of course, we start this morning with the fed. markets looking to open higher ahead of the fed's late es monetary policy meeting. the fed will announce a decision at 12:15 p.m. eastern time. and this is large lly a wait

welcome to "squawk on the street, i'm carlos quintanilla, along with melissa lee, jim cramer.action in japan and we'll talk about that in a second and europe as wellas we have bond auctions beginning to watch and more movement out of spain. you can see moderate green arrows from the ftse, the cac and the dax. bank of japan boosting its asset purchase program by 10 trillion yen sending the nikkei to six-month highs and on the heels of the ecb and fed. will this help the economy? >> the iphone five is good, but is good good enough to keep the market at new highs? we'll have a firsthand look at the new iphone later on in the show. >>> the changing of the guard over at goldman. cfo david viniar is retiring and harvey schwartz is in and how does he lead the economy in this new era of banking. first up, less than a week after the fed's qe 3 announcement, the fed becoming the first to boost the monetary easing. the move to boost the japanese economy helping to send gold to six-month highs and the nikkei to four-month highs and it's all wrapped up, guys with the fed in a slowdown in c

i'm melissa lee, carl quintanilla live from the new york stock exchange.'s see how we're setting up this wednesday trading session. a fleury of global headlines including the death of the u.s. ambassador to libya in benghazi. day one of the two-day fed meeting starts today so a lot of waiting and seeing here in the u.s. german constitutional court paving the way for the esm. we see stocks hanging in there at 14-month highs in the european continent. our road map today starts with what could be the most critical tech announcement of the year. we're just hours away from the unveil of the iphone 5. will we get news of a new ipad, too? >> mark zuckerberg says the ipo of facebook is disappointing but they will not make a phone and will enter search at some point. is that enough to turn the stock around? >> now the german constitutional court decision is out of the way, we're waiting for the fed. will it deliver on new qe as stocks hang in here at multi-year highs. >> all the news around apple, in four hours apple's ceo tim cook is expected to unveil the iphone

i'm carl quintanilla with melissa lee, jim cramer and david faber live at the new york stock exchange. what a morning. already, barely 9:00 on the east coast, we've got mario draghi speaking even as we speak. a slew of data regarding the jobs market in this country. take a look at futures. slightly off the highs, still trying to get some clarity on what exactly draghi is spelling out here, but a good start. we'll see if that's true. meantime, arrows in europe at this hour, mostly positive for most of the morning and still are. ftse is up about 30 point. our road map says enter the draghi, mario draghi who says the bank plans outright monetary transactions. still trying to put some meat on that bone. says that uncertainty is heightened as the central bank also cuts its forecast for 2012. how does this affect your portfolio? >> meanwhile, jobs data in this country, adp says private perils up the most since march and challenger says layoffs at a 20-month low. what does it mean for tomorrow's big jobs number? >> four hours from now in santa monica, california, amazon announced what's expe

i'm melissa lee along with carl quintanilla. let's get you started. it looks like another drift lower. keep in mind we saw lower fractions. that's what i mean by drift when i say drift lower. take a look at the action over in europe. stocks continue to move further away from 14-month highs. the concern today that perhaps spain will not, in fact, seek a bailout. so our roadmap this morning starts with yet another warning from fedex, the shipping giant blaming a slow global economy. but is this a macroissue or consumers no longer paying extra for express service. >> apple did it. expectations still high as preorders for the iphone 5 cross 2 million. >> prices on "squawk box" this morning, speaking of which, what was up with oil's mysterious decline yesterday and is it bad for confidence. >> ford is being called the most important model in decades for that company. we're going to be hearing from the ceo alan mulally. fedex states the q1 results are below its own exec sagss saying weak global conditions damped growth. my big question today, jim, was when

i'm melissa lee with carl quintanilla, jim cramer, and david faber live at the new york stock exchangep on u.s. futures after yesterday's big rally. we have the dow looking to lose about 53, the nasdaq down about 9. as for the

>> absolutely melissa. n 1964 lee iacocca and ford came out with the mustang. go back to gdp data.th. no doubt it is happening again. apple itself has sold billions and billions and billions of dollars of equipment that just didn't exist years ago. apple itself has been more important than stimulus. melissa: economists say there are two ways to stimulate the economy, two schools of thought. government does it on demand side or innovation and technology gets people to go out and buy and creates productivity in the economy which is what we're talking about here. some argued if you spend money on the iphone, it is money that you would have spent going out to dipper and doing something different. so it is not really increasing economy. it is displacing other spending . what do you say to that? >> that is what paul krugman has said. that is funny and defending estimate wlus. i has to -- stimulus. has to say if a private company does it can't be real. buy a tractor, go back 100 years, and that means you don't buy horses does that mean the economy is not any better off? no, we're better o

lee. melissa: that is bad news for americans in the recovery. this will talk more about this next.t's move on to the anti-american violence in the muslim world now engulfing 22 countries around the globe. the richest talk about the potential impact on oil. the stability crumbling across the region, can anything be done to restore order? fox business middle east terrorism expert following these protests very closely for us. thank you so much for joining me. how much more severe do you think these protests get? because to a lot of americans it feels like it happened sort of suddenly, but it also has a lot of momentum. is that the right characterization? >> for most of those, of course. this is happening overnight. it's just increasing. those who are following, experts and analysts to understand that once you have a network that is operating in many countries of the west pakistan and indonesia, you're talking about a commanding control. there's a war room doing the command-and-control, and that means they're going to spread it as much as they can until they meet the objectives of the

i'm carl quintanilla with melissa lee. jim cramer, david faber have the day off. david greenehouse riding shotgun with us this hour. take a look at futures. busy week of data, earnings and some fed speak shaping up here stateside. european stocks meantime retreating from some 15-month highs as the spanish bond auction environment this week ventures out to the long end of the curve. >> the markets, multiyear highs, best two weeks since june. with the fed out of the way, we turn our attention from housing data and earnings from fedex. >> at&t says preorders for the iphone have broken records. will verizon and sprint say the same? meantime, yahoo! has officially ditched the blackberry, promising iphones and samsungs to all new employees. >>> a report saying netflix is lose key content as early as this week while the stock has a dismal $50 price target. >>> and gm reportedly wants treasury to sell their stake, saying government restrictions on pay and perks hurting his ability to recruit talent. but at what price can the u.s. really afford to sell? >>> first, though,

i'm melissa lee along with carl quintanilla, jim cramer and david faber live from the new york stock exchange. let's look at this the comments from the ecb president putting futures on a rollercoaster ride, pointing in the up direction right now. 2 at the open s&p. the nasdaq flat at the open. as for the action in europe disappointing data there but we have mixed markets with gains in germany, italy, as well as spain. our road map kicks off with those comments from mario draghi, futures pledging unlimited sterilized bond buying as the ecb meets tomorrow but the blip is short lived. >> maybe more signs of slowing growth. china nmanufacturing data comes in weak. australia's second quarter gdp misses estimates as well. >> fedex adds fuel to the fire, warning for the august quarter blaming a global manufacturing slowdown. it could be the first quarterly decline for the company in three years. >> mark zuckerberg says he will not sell any facebook stock for at least a year as the social giant sets up what is essentially a $2 billion buy back. >> and nokia announces its new make or break ph

back to melissa lee. >> thank you, rick santelli.looking at a loss of about a hundred points on the dow now down about 10 on the s&p 500. we'll of course continue to track the market reaction to this worst reading last time under 50 since september of 2009. much more for you on the two big tech stories of the year. also steve jobs as you have never seen him before. you'll see what we're talking about right after this. as we head to break look at this morning's early movers on wall street. now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in r

. >> reporter: good morning, melissa lee.u what, we could say one thing with absolute certainty. if you looked at durable goods and gdp, they were not good data points. arguably, the initial jobless claim, even though it's still in the zone, moved lower. that wasn't a bad piece of data. but how did the markets react? you know, bob was talking about this rally as unloved. no, it isn't unloved. it's a bit misunderstood for the following reason. after those horrible data points, what should markets do? interest rates should be going down. look at intraday chart of tens. at 8:30 eastern it didn't go down but not to negative territory and it's back. yields are higher. the boon, similar with a caveat. yes, its yield went down, under net change for the day. that made sense, but boom, it's back to unchanged. you can see the similar pattern. so why is it? well, it's because of the next chart. here's the s&p futures chart that was open at 8:30 eastern. it trades down to around 1431.90. it's higher now. that was still much up on the day