meantime back to scott and fast half. >>> let's get back to michelle caruso-cabrera.e's looking at how the airline stocks are moving after the storm. they're slowly getting new york's airports back up to speed. >> but still tens of thousands remain canceled. so this morning, the first time investors could react to all this news, what are the airlines doing? mostly lower, not by much. southwest the only outlier. >> guys a quick comment? not exactly great businesses going into the storm. i guess they'll be questioned even further coming out of the storm. >> the airline space as a whole we like. one of the companies we like is b.e.a. aerospace, that refurnishing these planes, that will benefit regardless ody i want you're talking about a defense-related company. would you put your money today in any of the major airline names? >> i wouldn't be chasing any of these. >> scott, one important point to make on sandy, i think people -- traders at home should definitely not make any drastic moves. so i think traders should stay on the course in terf -- >> well, much of the focu

michelle caruso-cabrera and our thanks to dennis gartman. let's trade this thing. >> we have a huge skew. we are at record levels for the vix, not the spot vix but the futures. in other words, if you go out, folks, just six months into the futures they are ten points higher than where the spot is right now. so if what dennis says and his observations as well as michelle and michelle if we see a regime change you will see that vix, those futures come down dramatically because that steepness of that curve is there because of the potential that it goes the opposite way, the potential that we have some sort of nuclear issue or israel drags the united states -- >> this is not a regime that walks away easily. this is not like flipping the keys to an apartment that you are done renting. these businesses in power. ahmadinejad is a puppet for much bigger powers behind the scene. my concern would be this is not going to be an orderly transition because land and rice prices are higher. i take the other side of that. my go-to trade would be like a conoc

michelle caruso-cabrera with the three flash points investors need to know about. michelle? >> normally you say geopolitical tensions. you assume higher oil prices like today. however, we have three flash points coming up that could actually lower oil prices significantly. that's next on "power lunch." >>> turkey's parliament improving a further turn irk reprisal attacks on syria after fi five turks, a mother and her children were hit by artillery yesterday. the syrian army already has its hands full with a civil war. a beirut based newspaper today says the rebels made advances in aleppo today killing dozens of elite troops. >>> syria's just one of the mfo global flash points that traders are watching today. nbc's kerry sanders is in syria. but michelle caruso-cabrera has a flash point on what could drive stocks lower. >> the election. romney's strong performance last night leading some to think we could see more oil production right here in the united states because if he wins, he has promised more domestic drilling. flash point number two is iran. we showed you this video

. >> i'm michelle caruso-cabrera, be sure to >>> i'm jim cramer and welcome to my world. >> you need to get in the game. >> he is nuts. their nuts. they know nothing. >> i like to say there is a bull market somewhere. "mad money" you can't afford to miss it. >> i'm cramer welcome to "mad money." i'm trying to save you some mon money. call me. what happens when the positive facts get in the way of the negative story? i'll tell you what happens? you get the best back to back rally in agents. >> house of pleasure. >> s&p 1.12%. ♪ hallelujah >> and yeah, friday had a descent day too. >> let's face it. we came into the the earning season with a full head of glue. the earnings have peaked. with the impending government spending crash as well as a lack of unemployment growth, what did you want to do when you heard that? that was the wrap. but these last few days we have been at odds and the facts are threatening to overwell many the tale of woe. 1.1% gain on top of a 1.2% gain. those are the first back to back numbers. people trade on them. and today we have industrial production a 0.4% gai

i'm carl quintanilla with david faber, michelle caruso-cabrera live at the nyse.at.

i was just talking to michelle caruso-cabrera who met him.in citigroup those who know him like him. consider him to have a good reputation. few people have interact with him anyway. >> when we talk to a fund manager who has known corbat since 1983, back in the solomon days. that should be a good interview. much more on the breaking news over vikram pandit's departure from citi. look at that reversal. shares are now up by three quarters of a percent. back in two. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. those little things for you, life's about her. but

fortunately michelle caruso-cabrera is here and able to talk us through that and has a special guest.ctures in honor of angela merckal rifg in greece. thousands and thousands of protesters in front of parliament. angela merkel going into the lion's den, from the lead company germany providing the most bailout money to greece, receives hundreds of billions of euros as they try to balance their budget and reform the economy. it's gotten ugly this morning. she arrived a couple of hours ago, greeted by the prime minister who has been in charge only for a couple of months, antonis samaras, she's there to show support to the greek people and also to encourage them to condition their reforms of which they've been very slow at doing but also probably to lay down a little bit of the law saying they have to get it done. here she arrives at the parliament. let's show you some video. there's been a lot of anti-german sent nimt greeiment. i find this emotionally disturbing, i look people dressed at nazis with the nazi flag, the hitler salute going through the square to protest. >> wow. >> angela m

our chief international correspondent michelle caruso-cabrera has been monitoring the situation. michelle. >> hey there simon. the video tells the whole story, let's show people exactly what happened today. angela merkel arrived, 50,000 protesters in the street, let lead to rioting, video that we have become, unfortunately, all too familiar with moltov cocktails, tear gas being thrown, to highlight the intercontinental tensions, look at your screen. some protesters actually showed up in nazi uniforms with the swastika flags to protest the german chancellor's visit, angry because of austerity measures, angry at germany because germany provides the vast majority of the bailout money they get but comes with conditions that require very, very tough situations for the greek people. angela merkel stood side by side with the greek prime minister today saying that she understands that the greek people are suffering. she is trying to tell them that the reforms will be worth it but she also says there will be no more money. sue, there's going to have to be some more money, the greeks are ru

cnbc's michele caruso-cabrera is here. numbers crunched and turns out black friday isn't necessarily the best day for the best prices. >> speaking of brawls, chris, we see friday morning after thanksgiving, the people lined up. "wall street journal" wanted to know is it worth it to get the deals? they found out oftentimes no. two to six years worth of data, daily pricing on elmos, barbie dolls and et cetera and actually the best prices is often different time of the year. elmo plush toll, buy it in march and stuff it in the closet, best time to get it. $11. black friday it's $18. if you want a samsung tv, the best time to buy it is in august. $678 compared to -- this is a huge price difference. black friday price more than $1,000. nearly $1,500. almost more than double, in fact. ugg classics. if you would like a pair of winter boots, the cheapest time is in the summertime in june at $93 versus $139 on black friday. because, of course, there's very little demand in june. >> at 100 degrees, you can't think about trying them

i'm michelle caruso-cabrera in for maria bartiromo. >> i'm bill griffeth. here's what we're following at the close. it's going to be a photo finish on wall street. the dow, the nasdaq in jeopardy posting the first monday through friday decline since mid-may. the dow is up a point right now. the nasdaq looks like it will be negative. look at this. here's the dow up 1.76 points. it's still losinge ining altitu. the nasdaq down 5.3 points. the s&p down 4.25 points. that's a six-day losing streak now for the nasdaq and the s&p. so another week in the books, but it's next week that we're going to be following very closely with a deluge of earnings coming our way in the next five days. what will that mean for your portfolio going forward? hello, gentlemen. nice to see you here. steven, what does it mean next week? we get piles of earnings. we seem to think that would be what dominates the markets. should we also be worried about chinese gdp? >> i would be more focused on the earnings. they're slowing down. they're not giving the market a big drive. i'm afraid, yo

i'm michelle caruso-cabrera in for maria bort rartiromo. it's going to be a close one, folks. >> up a little bit right now. i'm bill griffeth with my lock feature on my phone right now, as a matter of fact. nasdaq under pressure. could be set for a six-day losing streak. earnings out of jpmorgan chase this morning and wells fargo especially doing little to lift this market. both stocks under pressure today as are all the bank stocks as we head into the home stretch here. speaking of wells fargo, don't miss our first on cnbc interview with chief financial officer timothy sloan. we'll get his take on the earnings and his thought of the state of the consumer, whether the housing market will come back. we'll also ask him about legal challenges facing that bank that came out just this week. but first, here's how we stand right now. this trading pattern chart will look familiar. it's been like this all week. you buy in the morning. you sell in the afternoon. right now the dow is in a comeback mode, up 3 1/2 points. the nasdaq, though, still the l

i'm michelle caruso-cabrera in for maria bartiromo. >> i'm bill griffeth. here's what we're following at the close. here we go again. the dow set to close lower for a fourth straight day despite a rally out of the gates first thing this morning. the s&p 500 is set to snap a four-day losing streak. nope. well, i guess we're up two points right now. no, a fraction. it's going to be a squeaker. we're going to be up all night waiting for the final results. >> let's get straight to today's market action. ben pace joins us along with dan gender. >> a cast of thousands joining us today. >> guys, what do you think here? ben, we seem to have a problem this week. we really struggled today to hold on to positive territory. why? >> yeah, we really couldn't even hold it at the end. i think the reality of weak third quarter earnings are starting to set in. you had a little bit of a good economic statistic with the jobless claims. this morning that, helped, but it wasn't able to hold. we had a weak summer of statistics so it would be logically the conclusion that we'd hav

i'm michelle caruso-cabrera in for scott wapner. four hours to go until the close. here's where we stand right now. little mini rally we had this morning, poof, it's gone. major averages sitting very close to the lows of the session if not there already. industrials lower by 16 points. 1361. s&p 500 lower by a point to 1407. had gone to 1421. nasdaq lower by half a point. you're essentially looking at the lows for the entire week for the major averages. here's what we're following on "halftime." bull versus bear. earnings taking a hatchet to the recent rally like you just saw. should you be buying the dip? we'll talk to a top strategist. >>> plus, emerging opportunities. morgan stanley sees green chshos in canada. why one fund manager disagrees and where else he's putting his money now. >>> our top story. the battle of the two tech titans. apple versus amazon. both companies reporting after the bell today. but which stock is the better bet right now? let's trade it with stephanie link, joe ter nokn terranova an murphy. >> i like the fact that expectations have come

i'm michelle caruso-cabrera in for melissa lee. apple bringing the rest of the market with it. intraday chart, apple posting their best day in five months. what's the takeaway, guys? here's goldman sachs coming out saying enough is enough with the saleoff. is that enough to make this stock move like that. >> i don't know. in the last two days it's moved nowhere actually. $2 billion here, $2 billion there. that goldman piece is nice that it was oversold but i don't think any of it matters until we start to see the number for the mini and the 5. we're not going to see that for a little while longer. >> mr. new world? >> i think from a technical standpoint apple is oversold. it's down from the 705 high, now over 14%. the 200 day sits at 584. goldman's note was good. it talked about 24.6 million iphones. what's the guidance going to be? you know, just a question for you, john, now you have apple which made the high in the september options expiration. now apple makes the low on the october expiration. is this something that we all have to start looking at? >> joe, i actually have a

i'm michelle caruso-cabrera in for maria bartiromo. early rally loses steam. now it's a fight to see the bulls or bears get the last word here in the home stretch. >> i'm bill griffeth. if we close lower, this would be the fourth down day in a row for the dow. number five in a row for both the s&p and the nasdaq. technology has been lagging today. apple shares down once again. that stock now flirting with correction levels, meaning it's down almost 10% from its recent all-time high. housing, retail, financial stocks have all been under pressure in the last hour or so. we're watching it very carefully. at the high of the day, the dow was up 71 points. it has been drifting lower since that time. virtually unchanged right now at 13,345. the nasdaq up a point right now at 3,052. struggling to remain in positive territory as is the s&p, which is up 2 1/4 points right now. so as the tug-of-war continues in the equity market, let's get predictions on where we go from here. deb is calling for 1500 still on the s&p by the end of the year. >> jim says if romney wins in

michelle caruso-cabrera with here with me again at the new york stock exchange. >> thanks, bill.it. >>> could it be time to tap the strategic apple reserves? there actually is such a thing. we might need it because last year's cold spring crushed apple crops. will there really be a shortage? co-owner of dressel farms up in new york is with us. how bad is it really up there? >> it is a gorgeous day up here, but we just haven't got much to do, unfortunately. normally we'd be picking apple furiously right now, but instead we're just kind of limping along trying to fill the storages. >> when are you going to run out of apples? >> well, we've got plenty of apples right now. we normally grow about 140,000 bushel here on our family farm here in the hudson valley of new york state. but this year we're probably only going to pick about 30,000 bush bushel. we pick them and put them in refrigerated storage and pack those between now and december. so that we'll be fine with. then the room behind me is a controlled atmosphere room where we refrigerate the apples and we also adjust the nitroge

i'm michelle caruso-cabrera in for scott wapner. the major averages, dow and standard & poor's and nasdaq all near session high, up 0.8% for the dow, 120 points. s&p 500 higher by nearly 1%, 13 points. ditto for the nasdaq in terms of percentages higher by nearly 30. here's what we're following on "the halftime report." stocks now in the green for october even though it's supposedly so scary, only percentage points from record highs. what do you do now. talking to two legendary investor, byron wien and wilbur ross. where do they see opportunity and how are they dealing with the uncertainties coming from europe, washington, d.c. and, of course, our top story, the shake-up at citigroup. pandit, he's out. corbat, he's in. the stock is staging a turnaround now positive on the day. what's the takeaway from the timing of this announcement and how are you trading it, brian kelly, steven wise, mike murphy all here to break it down, stephen weiss, you bought citi. why? >> last week when i was on the show and i've been consistent is that i ju

michelle caruso-cabrera is here with me here at the new york stock exchange today. at the top of the hour. >>> we don't we take a look at the markets, currently at the lows of the day. gold down, oil is down as well. it's a number of things. earnings season kicked off here in the united states late yesterday with alcoa. bit after disappointment there in terms of its warning about li aluminum consumption even though it did beat the street. >>> california gas prices remain at record highs with some areas still paying more than $5 a gallon. how much longer can californians endure these painful pump prices and what damage is it taking on the state's struggling economy? both sides of this story are covered for you. what the government is doing exend it the the gas fight to how small businesses are feeling the pinch. joined by john chung, state controller for california. thank you, john. we also have -- let's start with john. then we'll get to madelyn. john, how bad of an impact is this having on the state of california? >> well, it has a huge psychological impact on the

i'm michelle caruso-cabrera in for maria. >> i'm scott walker in for bill griffeth. bill and maria back here tomorrow. it must be monday because stocks are off to a slow start to the week with all three major averages in the red. investors staying cautious ahead of the start of earning season with alocoa set to report after the bell tomorrow. the outlook for third quarter earnings is pretty lackluster, so will we see the market adjust to that reality? we'll get into that. big question later on. >> meantime, nasdaq the worst performer today. due in part to the slump in apple shares. the stock now below $600 billion in market cap. more on appear until a moment but here are the major indices. dow jones lower by 25 points. 13,584. nasdaq negative by 24 points, 3,111. and the s&p 500 right now is also lower by nearly five points. that's a third of a percent. 1457 -- 1456. our next guest is making a staggering call. he says the world economy may be down for the count. that prognosis by brookings called tiger standing for tracking indice for global economic recovery. politi

. >> i'm michelle caruso-cabrera. see you tomorrow at noon for th. then catch "fast money" once again at 5:00 p.m. eastern time. tune in for cnbc's special debate coverage 7:00 p.m. tonight. >>> i'm jim cramer and welcome to my world. you need to get in the game. firms are going to go out of business, and he is nuts! they're nuts! they know nothing. i always like to say there is a bull market somewhere. "mad money," you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you a little money. my job is not just to entertain, but i'm trying to teach here so, call me at 1-800-743-cnbc. paging mrs. havisham, remember her? the key figure in "great expectations"? the book we all had to read in the country, no matter what? the one who set the expectations in that woeful tale? i can say charles dickens has nothing on this market, including today's roller coaster action. markets closed up, the dow rising 2 points, the s&p gaining 0.38%. stocks are going up or down no

let's goat michelle caruso-cabrera. we've been watching amazing footage, people on the streets saying we're starving. a woman even climbing on to the car of ahmadinejad. >> the reality, iranian currency has fallen 40% in one week. show this video. this is from tehran's grand ba dar. these are merchants in that bazaar saying shut down your shops. they are angry because their currency has fluctuated so much, it is incredibly difficult to do business. imagine buying inventory at one price level. then a week later a change is so dramatic. we believe riot police went in, stopped this protest. there are photos out there we're trying to authenticate. at the same time shut down long tolerated but illegal money traders on the plaque market. we cannot show you a chart of the iranian currency because the charts we have reflect the official rate which is malarkey. let's show you a full screen of what's happened to the iranian currency over the last year. january, $1 cost you 10,000 rials. one week later, 35,500 rials. dramatic, dra

win or lose, michelle caruso-cabrera will have plays that u.s. investors are k.e money on. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ accolade overdrive. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> welcome back. hugo chavez will face his toughest challenge this weekend since his rise to power. michelle caruso-cabrera joins us with the story. >> so it's a close election, which surprises everybody. it's probable that he wins but it's possible that he loses, which is pretty big news. venezuelan bonds have been moving dramatically as a result of what's -- they've been actively traded. let's bring up the one-year chart and we can show you first of all they're actively traded because they have very high yields, one of the few places you can get high yields. if you're thinking this is a country that can

michelle caruso-cabrera will bring us that story with the details. >> this is a real estate deal, $81company that made the investment coming up right here on "squawk box." th 8 airba, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ >>> welcome back to "squawk box." chrysler reporting a september sales increase of 11.5% over a year ago, that's above estimates of an 8.5% increase, it's chrysler's best september sales

michelle caruso-cabrera will have the details next.on the third hour of "squawk on the street." >> well, simon, past performance is no indication of future possibilities. we see a very similar boilerplate on many things, including mutual funds, different types of accounts. we're going to try to gauge exactly how much you can depend on past performance to make a guess about the future with some companies that i'm not going to name. and we'll see how this exercise turns out. top of the hour, and then bottom of the hour, nigel on a hot topic in the uk, who's paying their fair share of taxes? have to tune in for that one. all coming up on "squawk on the street." icans believe they shoue in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you o

the fact is michelle caruso cab cabrera, no mention of europe and the european debt crisis.talk about all the pertinent issues when it comes to foreign policy, or was this too focused on middle eastern policy? >> well, i thought that i was surprised -- go ahead. who is going to go? >> you go ahead, david. david. >> all right. i was surprised that they did not talk more about europe. but let's face it. this election is not going to get decided on foreign policy. the president has a natural advantage on foreign policy. frankly, i thought that governor romney clearly exceeded expectations with regard to his knowledge on foreign policy. this election is going to get decided on who is going to do the best job on growing the economy, generating the jobs, and putting our finances in order. and the biggest national security threat that we face is our own fiscal irresponsibility. >> yeah, which should have come up more, i think. and it should have been related to economic policies a lot more than it actually was. do you all agree? michael porter, what is your take on that question? >