we get no aid from the modi government. he says we're living well here. does it look like we live well here? >> something of india today, you can see modi has many good qualities like he is supposed to be a very good administrator but his state runs very efficiently. those are good things. if, on the other hand, he's a leader that creates communal hate, that fails to protect a certain community, that will be unfortunate for an india that wants to be recognized and be given the place in the world as an emerging power. >> reporter: modi was denied a visa to the united states in 2005 due to religious freedom concerns. 25 members of the u.s. congress are now urging sent of state clinton to keep the ba in place. narendra modi will not need the votes of muslim citizens to win this week. but his future on india's stage with national elections coming in 2014 remains in question. as the specter of the 2002 violence continues to follow him. >> ifill: election results will b >> ifill: election results will be announced on thursday. kira's story is part of a series,

. >> reporter: it was in this climate that narendra modi emerged on the political scene embracing religious ideology and rising through the ranks of a political party founded on hindu nationalism. this religious orientation resonates, says social scientist. >> hindu middle class is pretty powerful. they wanted a meaningful identity. and hindu tradition gives them that great identity. >> reporter: that identity was exploited in the immediate after math of the 2002 train burning. by hindu groups aligned with modi's political party says this human rights lawyer. >> they know that one of the most important points for the hindus would be to see the manor in which the dead bodies. they paraded the dead bodies. they held a funeral march. they had about 50,000 people.

seema mody has more. let's start with the farm bill. >> absolutely, richard, the agricultural farm bill is set to expire at the end of this bill. right now the average price is 3.65 a gallon here in the united states. if this bill isn't passed, prices could increase more than 100 going up, from the average percent it is right now. there's worry this agricultural bill may not be passed and push ever over the so-call -- so any price hike could definitely impact a family's budget, and you willy how much they spend on groceries. >> just a short time ago, the white house called on dockworkers to continue to -- what's the impact? >> balely time is running out that could prevent containers carrying goods too and from the us. talks are taking place in an effort to keep more than 14,000 longshoreman at 14 different ports from walking off the job. the national association of manufacturers puts the cost of a potential strike at $1 billion a day. retailers could potentially deal with higher potential costs which coul

seema mody live with the latest offer on the table. seema? >> that's right.resident obama makes a new offer to house speaker john boehner as they try to reach a deal to avoid the fiscal cliff. they metaphor 45 minutes on monday and are expected to talk again today. reports say that the proposal will raise revenues and cut spending by $1.2 trillion over the next decade. the president is now reportedly seeking to extend the bush era tax cuts for everyone making below $400,000 a year. up from his previous earnings threshold of $250,000 a year. he has agreed to use the chained consumer price index to calculate most benefits. president obama wants to raise the debt ceiling high enough to take the issue off the table for two years. boehner is expected to brief house republicans on the president's offer today. so be sure to watch out for that. back to you. >> will do. thank you. seema mody at cnbc. >>> much of the focus in washington is on the effort to avoid the fiscal cliff. lawmakers are running out of time to pass a farm bill. farmers say if the bill is not incl

i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day.hey'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exchange market. >>> as for the action in the overseas market, the youu.k. is closed for boxing day as are british colonies, hong kong, australia, new zealand. in europe, the dax in germany is up and running. we are higher -- lower, rather, sorry, by half a percent. overnight in japan, the nikkei, that was higher. let's see the nikkei up about 1.5%. >>> now the holiday shopping season is drawing to a close. and early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimate sales rose .7% o

we'll talk with seema mody about that. and the s&p 500 index at this hour is down 1.80 in change at 1407. in today's "closing bell" exchange, we go over what is going on as we head toward the end of the year. seema mody is at the nasdaq today. jeff, what do you make of what's going on in washington? i'm most interested in the fact that the markets have lost the volatili volatility. we're not seeing the markets respond to every single statement that comes out of washington right now. what do you make of that? >> i think it's the same washington waltz we saw last year. they didn't extend the bush tax cuts until december 17th. they didn't handle the payroll tax until december 23rd. i lived inside the beltway. i have a pretty good network on the hill. i think they're going to have some kind of staged in agreement and then agree to attack the entitlement situation in the new year. >> michael, what do you make of what's going on? how do you try and trade this? at least we had some volatility the traders could trade on. now we do

. >>> let's bring in seema mody with a special twitter report. >> when the powerful internet analyst1990s speaks wall street listens and tweets her latest industry report presented today highlighted the rapid growth in mobile adoption and tablet usage. here are a couple of points here. meeker shows that android smart phone adoption is growing six times faster than the iphone. google shares under performing apple. fred tweets while i guess it is appropriate that i am reading mary's deck on my android phone. meeker illustrates that mobile traffic makes up 13% of internet traffic versus 4% back in may of 2010 looking at this trend steve tweets mobile payments will increase. what is the best way to play the fraud prevention or data security angle? and lora tweets trading the meeker report what is the stock to own? >> all good tweets here. i don't know. it seems like this is stuff that we sort of know already in some way, shape or form. >> it is a different distribution platform. somebody like meeker whether you liked her before or now it is a voice and it creates a debate. and it is a li

even seema mody, hi, seema? >> hi. we are up about a percent just off session highs.pple rebounding after midday trade, about 0 .6%. sticking with smart phone space, research in motion beginning blackberry 10 beta testing with 120 customers. that's ahead of the official launch of january 30 of next year. look at two month chart, research in motion versus apple. you will see research in motion outperforming apple, up better than 70%. apple down about 20%. also watching shares of com pewware and offering to buy business from compuware. that's why we see shares of compuware. >> thank you, seema. >>> we add tw o-year note auction. rick santelli is tracking it for pups h you. how did they do today, ricky? >> well, 2-5-7 this week, holiday year-end issue, accelerated issue for debt, a $5 billion, five-year note. if we look at how 5s, 10s and 30s all traded, you can see how they are similar and varying around with time degreeses of time tests back it early november and last time you see the high yields. also keep in mind we have 174 ten tour. sound higher than it was. it is.

out performance there own likes of apple seema mody, up 3.5%. >> absolutely.finitely helping nasdaq given the fluidity of the situation in washington, simon, hard to predict where the markets will end on the day. right now seeing session highs of 1.2%. as you mentioned, apple shares providing a nice lift to the nasdaq. recent note from topeka capital, an insatiable appetite in hong kong and china for the ipad mini. some of the bullish commentary notes. facebook shares also up 2.6%. upgrading the stock from sell to buy, writing that facebook has ad spending from large brands. interestingly enough, look the at as in dab 100 just for q4, facebook made that list. other stocks on the list include yahoo! virgin media and green mountain coffee. sue, back over to you. >> thank you, seema. >>> we are waiting for president obama to come to the podium and perhaps detail some of the mini deal that apparently is being worked out in washington. as we wait for more details of what has been worked out, we want to talk a bit about the role that america's ceos played in the fis

seema modi is at the nasdaq and joins us now with more details. hi there, mandy. >> wall street was not able to give us a fiscal cliff for christmas and that's weighing on textures. the nasdaq is underperforming the minimum wage or indices. some of our large-cap tech shares including apple and some of the online players like amazon and ebay losing face in today's trade. one stock i want to point your attention to, marvell technology, plunging the last hour. the headline weighing on shares of marvell. they lost a $1.7 billion verdict in a carnegie-mellon lawsuit where carnegie-mellon accused marvell of patent infringement. the stock is down better than 11%. bill? >> seema thank you very much. well, if your plan for christmas eve was to watch a movie on netflix you might have been disappointed. the outage left users without the video streaming capability, but the company blamed it on its arch rival amazon and its cloud computing services. brouhaha aside, we're wondering which stock is the better buy right now because that's what we do on talking num

let's get to seemor, modi with more on this. >> hi, mandy, off of our lows, but today a risk-off approach to trading. that's a strategy being used as wall street is waiting by for the latest on the fiscal cliff negotiations. interestingly enough when you look at the year-to-date performance of the major indices, the nasdaq is the outperformer, however. for q4, just this last quarter, the nasdaq is the worst performing major index. some is down about half a percent today. lastly, one of the bright spots in the online travel space that i want to point your attention to, expedia.com. no major news hepthelping lift the stock. however, traders telling me that technically the stock looks strong. even on twitter you'll see that there are a lot of traders tweeting about this stock, up about 3 president 6%. bill? >> all right. seema, thank you very much. meantime, nokia's shares lower -- they were early on by more than a percent and a half. may have come off those lows with the rest of the market. the dow down just 20 point. nokia's report comes amid reports that the new phones running on microsof

let's go to time square and the nasdaq with seema mody. >> very similar story. the composite pairing losses over the last two hours. there is a rising speculation or hope if you want to call it that a mini deal will be put into place to avert the fiscal cliff. you can see the nasdaq down about 9 points or so. to get stock specific, facebook in the news. it was the worst performing stock on the nasdaq 100 this morning but rebounding over the last hour. a facebook spokesperson speaking out in response to a report that said instagram was seeing a decline in users. facebook writing that this data is inaccurate. we continue to see strong and steady growth in both registered and active users of instagram. interestingly enough, if you take a look at some of the best performing stocks on the nasdaq 100, facebook made that list but still down from its ipo that it made back in may. that's putting it into perspective. stockstill down 30% from its ipo. >> pick it up from there. seema, thank you very much. >>> in the meantime, it is what everybody is talking about, the fisca

seema mody with us now. this is not a typo, is it? >> not a typo. take a look at shares of research in motion. as you point out, best performing stock on the nasdaq 100, quite a sharp rebound when you take a look at shares in comparison to last friday, when the stock dipped lower by around 20%. of course, many traders calling this a relief rally when you have a lot of traders covering their shorts. there is also some blogs out there leaking pictures of what they say is the newest blackberry 10 of course. research in motion saying their blackberry 10 is slated to be released january 30th of next year. another bright spot, netflix. not the move you would expect. some customers were impacted by a service outage on christmas eve. it has been fully restored. we are seeing shares higher on the day. retail stocks getting hit. lot of the specialty retailers moving lower on that mastercard spending pulse report that showed holiday sales coming in lower than expected. so those are some of the names to watch. of course, also, online sales which grew only 8.4%

seema modi is manning the nas desk. >> a deal to avoid the fiscal cliff thought it was a certainty at the beginning of the month. today not so much. senator reid's comments and a dismal report triggering a selloff that a lot of pessimists had expected sooner than today because they didn't think the deal on the cliff would be done. the dow dropping below 13,000 for the first time today sings the beginning of this month. now negative as well for the month of december. trading at a three-week low with all 30 of the dow components in negative territory. with the dow below 13,000 the s&p is notching up its fourth straight loss trading below a 50 day moving average and also hitting a three-week low. if investors are moving out of stocks, where are they moving into? safe haven. a treasury e.t. after saving a bid after investors have a secure place to put their money. gld or gold up. gold seen as a safe haven. so it, too, is benefitting from that rush or flight to quality, flight to safety. and then of course on the heels of very modest gains in the metal itself, gold, there is strength in go

. >> i'm is ima mody with the kudlow report headlines. spokesman urging ship workers to reach an agreement as soon as possible. the existing agreement expires saturday at midnight and affects ports from massachusetts to texas. >>> stock prices have doubled since march '09 and that hasn't stopped american investors from selling stocks five gleers a row. an associated press analysis shows individual investors have pulled at least $380 billion u.s. stock funds from april 2007 and it's the first time ordinary investors have sold during a bull market since world war ii. >>> mortgage rates headed down last week according to freddie mac. the 30-year fixed rate average was 3.35%, just 0.04% from the 40-year lowest on record since 1971. the average on 30-year fixed rates was 3.66%, the lowest in 65 years. michelle, it seems like a good time to buy. >> yeah, maybe. >> thank you, seema, if you can get the loan. >>> why when we just upgraded their trade status in we're about to get answers from a russian expert just ahead. [ male announcer ] this dec

. >>> up town to the nasdaq with seema mody is following tech stocks for us. >> we see hardware, softwareip names. look at social media names. you see facebook down 3%. groupon down 7%. and zynga following suit. the wirs on the nasdaq, research in motion with earnings report not as much of an issue but comment made by the company's management around the revenue service model. a couple of down grades hitting the stock -- hitting the tip as well as stock down about 20%. if you are looking for a bright spot take a look at red hammock, that's why that stock is up and a name in biotech space. announcing a deal with pfizer. licensing drug delivery platform to pfizer for $515 million. keep in mind it is a small market cap below a billion dollars. back to you. >> thank you very much, seema. the failure of plan b last night, rick santelli, did that help sell off in the bond market? >> it helped some of the buying, good question, michelle. if we look at a 24-hour of tens, with you can see as we started to digest, some soft equity prices overnight in response to the fact nobody could pass anything b

seema mody has details. >> apple the big. story.hares getting close to a death cross, which is when its 50-day moving average crosses its 200-day. analysts reacting. brian marshall says apple is cheap and attractive here, but damage has been done with that recent 20% slide from its recent high. shares down about 4.7%. whitehorse finance was set to debut and ipo today. due to a human error, it was delayed. apparently someone hit the ipo halt button instead of the ipo extension button. nasdaq said all orders were canceled and no shares actually exchanged hands. shares did resume trading at 3:00 p.m. it was priced at $15 a share. we're trading lower by around 7%. of course, not the way you want to kick off your first day of trading. back to you. >> it really isn't. of course, facebook, another name that saw a botched-up ipo. the stock still below the initial offering price of $38, but the stock has been on a tear this month. now the social giant will be added to the nasdaq 100 index coming next week. if you own an etf or a fund that tr

. >>> to the nasdaq, seema mody is there following big movers.e is a lot of focus on apple with the nasdaq composite up almost 13 points. i know there is other movers too. is there we are seeing a nice recovery among tech stocks. apple is the movie that everyone is watching. it lost 6.5% yesterday. today hit a low of $518 a share. but as you can see, we're at $545 so we have come off our lows of the stock though still in bear market territory. broad com is the heavyweight in the semiconductor space, saying its sales have been better than forecasted. that's providing a nice lift to tech up about 2%. quick check on social media stocks. facebook down 1% but zynga rallying. that's on news it will soon offer online gambling in the united states. >>> indices have all moved into the positive territory. sharon? >> gold prices closing right now before the $1,700 an ounce level and up about $7 or so. we've seen a little bit after rebound here in gold prices. a nice one in fact today off of that 200-day moving average, the low of the session. that was just

seema mody is following the big movers. >> that's right, quite the turnaround in shares. it went from being the worst performing stock in the nasdaq 100 friday to being the best performing stock today. this is what you call a relief rally. traders basically covering their shorts. there is also some blogs out there leaking pictures of what they say is the newest blackberry, perhaps that's adding fuel. you can see the stock up better than 10%. netflix also a bright spot. not the move you would expect after some customers were impacted by a service outage on christmas eve. it has been fully restored and we are seeing shares higher on the day. brick and mortar not the only retailers moving lower on that mastercard spending pulse report that showed holiday sales coming in lower than expected. we are seeing some of the specialty retail names getting hit. take a look at urban outfitters, zumiez moving lower. the report highlighted online sales which grew 8.4% from october 28th through saturday which is lower from the online sales growth of 15% to 17% seen in the prior 18 month p

. >> seema mody following it. >> the nasdaq is down for the fifth consecutive day.owever, keep in mind tech stocks off of their lows were down six to seven points on the nasdaq. there are hopes that a mini deal will be put into place to prevent falling off the cliff as you were just discussing. some tech stories to hit. nokia shareholders are unhappy with the details of the patent details settlement with research in motion. nokia is getting a settlement with rim. you can see research in motion higher and nokia lower. another event is aside from selling its cloud unit but you can see both stocks moving higher. >> from seema to the bond market. rick tracking the action. have you got your fiscal cliff parachute ready, rick? >> you know, when it comes to the fixed income market, i don't think anybody's going to need a parachute. >> you're right. >> i don't know if the credit markets are going to do a whole lot. there will be a response that will correlate, of course, with the moves in equities. it's about a range part of that is the hold 'em and fold 'em. the feds holdi

seema mody, following the winners. >> seems like investors are following the developments or lack of developments out of washington. that's what's weighing on the nasdaq. we're down about a percent. large cap tech. google down a percent. apple down a similar amount. two headlines to watch on shares of apple, holiday retail survey shows customer satisfaction with apple's online stores slipped to the lowest score in four years. traders say shares of apple seem to be hitting a resistance of 514. then moving lower. that's one pattern to watch out for. in the semiconductor, marbel lost 10% on the jury's verdict on a patent infringement case. they downgraded the stock writing that this legal development calls into question its valuation safety net. if you're looking for some bright spots, take a look at expedia. shares moving higher. there doesn't seem to be any news helping to lift the stocks. however, when talking to traders the stock looks attractive on a technical basis. that's what i'm hearing on the street. lastly, take a look at deckers outdoor moving higher on some strong volume. u

seema mody is there to give us a bit of pit on that. is there absolutely. hi.pple is the big story in tech, shares back in bear market territory. just when we thought the stock may have bottomed, a lot of technicians talking about this death cross which is a bearish signal. shares of apple right now the worst performing stock on the nasdaq 100 and the s&p tech index. elsewhere we're seeing chips under pressure after altera, a chipmaker, lowered its q4 revenue outlook. stock downgraded to hold mentioning higher inventory risks and an expectation of rising operating expenses in 2013. that perhaps weighing on the broader semiconductor space. lastly, a quick check on social media stocks, pandora shares underperforming after projecting slower revenue growth. >> thank you, seema. >>> to the bond market. rick santelli is at the cme pits in chicago. i know they're watching washington as closely as wall street is here, ricky. >> you don't want to watch too closely. sometimes too close, you see too much. if you look at an intraday chart though you see pretty much all you

seema mody is there folth big movers. >> we're flat on the day.al mover, deckers outdoor is the maker of ugg boots. stern upgrading from buy to neutral citing new product offerings could help the company next year. the stock up 8%. apple also a bit higher by .6%. the company announced this morning thatle iphone phone will be available in south korea on december 7th with more than 50 additional countries being added in december including brazil, russia and taiwan. trying to capitalize on the growing number of smartphone users in emerging markets. dell, best performing stock in the nasdaq. getting the strong upgrade over at goldman sachs. netflix up 4%. back to you. >>> fiscal cliff looming of course. corporate boards at the world's largest pensions and sovereign wealth funds have very hard decisions to make about risk and asset allocation. how do you generate returns and manage volatility in this kind of environment where there's so much you can't control? global head of institutional clients with jpmorgan asset management, welcome. i'm going to as

. >>> let's see what seema mody's working on?> tons of special dividends being made before the fiscal cliff deadline. they are all the talk of twitter. the big question -- is it too late to buy in on a stock once the announcement's been made? tweet us your thoughts at cnbc "fast money" and we will unveil at 5:00 p.m. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased r

seema mody there >> slightly lower on the day for nasdaq, waiting for a fiscal cliff negotiations inhington. marvel seeking to overturn a jury's patent infringement findings, you can see the stock continuing to move to the downside u stocks moving on the back of a holiday e-retail satisfaction index, a survey compiling -- a servais compiled between thanksgiving and christmas. amazon on top of the online shopping satisfaction survey you eighth consecutive year, however, customer satisfaction with apple's online store slipping three points this year, apple's lowest score in four years. speak of am, mobile wars heating up, nokia in the news. according to "wall street journal," the lumia phones sold at a discount or pro-sfrird free at some mobile carriers, seeing the stock lower on the day. look at research in motion after the being the best performing stock on the nasdaq 100 yesterday. carl? >> seem marks thank you very much for that seema mody at the nasdaq. >>> shift to bonds and the dollar, rick santelli at the cme in chicago. i did not see your hit on "squawk" but it became legendar

seema mody. >> weighing here on the nasdaq on large cap tech shares, take a look at dell shares moving lower. research in motion continuing its plunge after losing roughly 20% on friday with concerns aroundity revenue service model being the key issue there. aside from that, a biotech stock on the move, a small cap but as you see a commendable run over the past six months, gaining 70%. investors piling in, in anticipation of approval. today they got that approval. however the cholesterol lowering drug will contain a boxed warning citing risk of liver toxicity. perhaps that's a reason we are 150eing that stock move lower. on to bright spots, if you can believe it, facebook, best performing stock on nasdaq. raising 2013 forecast. with four days of traysing left. take a look at nasdaq. it is off of its highs, but still outperforming dow jones and the s&p 500. maria? >> all right, thanks so much, seema. >>> we've got about eight minutes before the closing bell sounds on this day on this christmas eve. >> coming up, tracking santa is a little different this year. google has been dropped fro

seema mody is over there. >> fifth consecutive days of losses at the nasdaq.g money flow out of tech, into some of those more defensive plays, as wall street continues to watch the discussion out of washington. apple shares staging a late-day comeback in yesterday's trade, but news today that apple has been fined $1 million yuan or roughly $160,000 by a chinese court for hosting third party apps in its app store that are selling pirated electronic books. not a large fine, but still something we're watching. speaking of apple, it seems like some of its piers in the tech space may be working on a smart tv, digi time, a citing source, reports that intel is working with hp and others on a smart tv that would be more than combining pc function with tv, facial recognition was mentioned. so clearly the tv wars will be in high focus in 2013. lastly, a quick check on social media. facebook shares, as you guys are mentioning, lower after reporting from app data that inexti instagram active users has fell since december 17th. back to you, carl. >> seema, thanks so much.