obviously the nasdaq, waiting for information out of nasdaq. some kind of statement for nasdaq to tell us what exactly went wrong and what was behind this three-hour trading to all nasdaq stock. we are trying to get back to the next hour. >> all right. all that plus harvey keith see you later. >> thankses. >> hopefully we will have a normal trade willing day the next time we see you. what about the regulators? we will talk to harvey in the next hour as well. what a crazy day. dow finishing up about 68 points, still below 15,000. now maria in orlando, florida. i will see you tomorrow. >> and it is 4:00 on wall street. in orlando. that's where i'm coming to you from. . do you know where your money is? hi, everybody. welcome back to the "closing bell." stocks higher on wall street today despite a three-hour trading halt at nasdaq today. we are waiting for answers as to why all nasdaq stocks were shut down. no trading for three full hours. full team coverage and what is going on at the nasdaq and what it means for your investments coming up. also c

nasdaq is not trading. the nasdaq composite has not moved in effectively 40 minutes to 50 minutes' time here. this is impacting other trading out there, folks. the situation is fluid. it is dynamic. i'm going to send it to my colleagues on "power lunch." it's big news, folks. see you soon. here's "power lunch." >> brian, thank you very, very much. breaking news as we have been reporting for the last 45 minutes, better part of an hour. nasdaq says trading in all -- all -- nasdaq-listed shares has been halted until further notice. cnbc's team coverage continues. let's first go down to bob pisante. what has changed since you last reported? >> still status quo. nasdaq about 45 minutes ago announced they were halting trading in all tape c securities. tape c is essentially the nasdaq exchange tape. a is the new york stock exchange tape. now we're going on 45 minutes with a major exchange essentially halted. in theory, you can trade many nasdaq listed stocks on other exchanges, including here at the new york stock

they have stopped trading nasdaq securities on behalf of nasdaq. hearing they're saying it will reopen in an hour or so, but as far as these market makers, they're saying they haven't got any information in terms of when the nasdaq will start trading those securities. other information i got, i spoke to david seaburg who is in charge of the accounting, he said they're watching the nyse volume very closely, because what happened is people who had planned to sell nasdaq listed stocks and buy nasdaq listed stocks on the nyse cannot do so because they're not doing any selling. you could do nyse stocks to get nasdaq stocks, but there could be a varied volume today, which could mean there would be volatile trading on the stocks and it could be widened if the nasdaq does not reopen. >> thank you very much for adding your voice, and i've got another voice who just sat down next to us, and that, of course, is jim cramer. you've been through the markets, you've been through the ups and downs. what do you make of what's happening today? >> i think that if you

but the price is what the nasdaq. the nasdaq price. i think the new york stock exchange, her right now reflecting a thing close to true value? well, what is in the s&p 500? liz: a huge part. see if you can run into somebody on that issue. we have to take a break. again, we had just about seven minutes away from what the nasdaq is said would be a resumption of trading after a massive technical problem that they're calling a flash freeze. we are staying on this huge story about today's dramatic news on the nasdaq. what it means for you, ceos are watching, have affects trading. the issues charlie gasparino just brought up, and whether it raises new red flags about the entire trading system. as you can see, nasdaq composite is flat. live cameras right outside. stay tuned. don't go away. [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male an

nasdaq trading stocks not just on nasdaq. microsoft, apple, things like that, those stocks being halted but not trading on the new york stock exchange or again on the cme. there is one other thing i want to show you and give you a section on leaders for the dow. we do have the bigger names but in the dow 30, take a look at microsoft. microsoft, not trading. 2.29 as you can see. taking a look at different names still trading, we are in the green. the dow, the nasdaq, the s&p, we have a nasdaq that is frozen, not moving 631. right now. i want to show you one more thing, featured stocks. let me go back here for a moment looking at sectors, tech-heavy nasdaq if you look at technology names we watch internet names, a lot of names are frozen. google, perfect example. google is frozens, up more than $3 at the time, 12:14 p.m. eastern time, tracy and ash. as we monitor big names like apple, microsoft, google, facebook, we remind ourself what had with the ipo for facebook. a tough day for everyone at nasdaq. tracy: a little bit of dej

but nasdaq of course was down -- the nasdaq owner of nasdaq was about 3.5%. rick santelli, what was the buzz on the floor today? >> the big discussion and this is something i haven't heard anybody else say and it's been a debate not only for nasdaq but for issues regarding the cme. and that is, was it a good idea for the exchanges to go public? you think about a couple of comments. scott cones nailed it and so did bob pisani. legacy software on the nasdaq and many exchange, which means it is owned. users that are very high-tech. the goal of the exchange to maximize balance sheet is an entity reporting quarter it quarter. maybe to spend more money on connectivity to the high frequency guys because that's where their bread is buttered. quickly to fixed income market, think about this. we have flattening of 5s to 30s by about 10 basis points. five-year yields up four and down five basis point in 30-year bond. you want to watch the five-year note that continues to fall in price and rise in yield. it is now comping back the furtherest to the first week of july of

nasdaq has it. you pile new software upon the old software you get problems and you try to make it interact with all the other exchanges out there and multiply the possibility for failure. number one, what can be done to improve the trading technology. there is a reg that has been floating around but you can bet that's going an an issue. what can be done to simplify the trading systems. do we need 13 exchanges, 40 dart pools. you guys i think i'm aligned with you my answer is no but good luck trying to change that. there is a lot of interest. one more point about the technology. we used to have systems called the dot and the super dot system. pieces are still behind me. this allowed traders to put orders to the floor electronically. i was here at that time in the 90s and it went down but you didn't hear a lot about it because the system was fairly opaque. my point is there is always been system failures but now there is a lot more transparency and i think that's a good thing and things are now so in

liz: let's talk about the nasdaq.aw today, do you feel that it was handled properly? are you concerned that there may be some nefarious groups at work here? hard to say the nasdaq still hours later has not come out with any kind of a statement. >> i'm not certain about anything nefarious but i think this was handled terribly on the part of nasdaq. it seemed as if they didn't really know how to respond to these events. they didn't have a clear statement of what was going on. and, they opened some securities ahead of others and, that left the marketplace in a complete state of disarray. i think that their handling of this was completely unacceptable. liz: well, jack lew, the treasury secretary, was just speaking. we took his comments live on the air. he happens to be out in the silicon valley. he used the word intrusion. he didn't say he knew anything, harvey, we have to look at these kind of things, we need to look at electronics, we need to be prepared for anything like this. clearly the president has been notified, c

shortly after that the nasdaq halted all nasdaq trade stocks and it wasn't just at the nasdaq because you can trade nasdaq names on other platforms, but all the other platforms were stopped trading because nobody could uncover the correct price for anything, basically around 3:30 stocks started trading again. it didn't affect anything except the nasdaq price itself. we finally got a statement and it said there was a problem, basically price transparency but didn't go into further detail exactly what the problem was or what caused it. >> i got a copy of this thing that you're referring to which came in about 5:30. so it talks about sip, it basically says the securities industry processor which is responsible for processing all these prices broke down. okay. i don't know. why did it break down? do we have any idea? bob pisani says it broke down because of the software package. they are building software package on top of software package. what's your guess? >> reporter: i want would be a guess. to be honest, bob knows more about this kind of stuff than i do. i'll say this and there's so

if cable is owned by nasdaq.e heard this morning for the first time was bob greifeld suggesting he would be in favor of a competitor coming on the market. i don't think we ever heard of that before. >> i'm saying if you have a train that has 13 cars, right, they're the same train and one jumps the track, the whole train is coming down. i think that's what we saw yesterday. >> if you have two tracks an everybody is -- >> yes, that itself a separate issue. they will build a second track. listen, i'm sure the high frequency traders, they've already built their own tracks? >> he didn't sound thrilled. i don't know if he was in favor. he said, yeah, maybe that's what we need to do, begrudgingly. >> not begrudgingly. he was okay with that. i don't think we heard that before. >> almost forced to that conclusion. >> i had gone back and looked. he had been asked that question in previous years and had suggested that the way this had worked previously was perfectly fine. to me, that was a shift. >> andrew, it was that tape

similar gains for nasdaq, at 1,663. the nasdaq, bill, up half a percent. to know why it's outperforming today, despite some of the stumbles this week, it has a lot to do with the perfnc

the nasdaq operates that feed for the nasdaq quotations.d fine when the day opened yesterday. last night, though, the nasdaq said what they discovered was that there was an issue with an exchange participant and connectivity that caused ultimately that outage. nasdaq in a statement last night said it didn't learn of that until the afternoon. they didn't identify the exchange participant, but here is what we know. about 45 minutes after the opening bell, nyse arca, the nyse electronic platform, started sending out some notices to its traders and its members that there were some issues. about 10:15, there was a message with routed orders. they said that issue had been resolved ten minutes later. a few minutes after that, they said the nyse arca would be unavailable for tickers for tact through zyyc. this would be the continuing problem, the arca receiving of that feed from the sip. a few minutes later, they said it was resolved. then at 11:10, they issued another notice, they were continuing to have issues processing outbound quotes for that

. >>> nasdaq freezes, the dow thaws. a massive system glitch stops trading for three hours as the dow scores the first gain in more than a week. can today's trading systems be trusted? and is your money safe? >>> hewlett laggered. the world's largest maker of personal computers has the worst day in two years. is the company's turn around strategy in trouble? >>> and the american worker, wages have been slashed for a decade as corporate profits rise and experts say the impact is showing up in a critical area of the economy. that and more tonight on "nightly business report" for thursday, august 22nd. >>> if you wanted to buy sales of apple, google, intel, microsoft or any other stock listed on the nasdaq you couldn't. the reason, for more than three hours trading was halted because of a major computer glitch. it raised new questions about the safety of electronic trading and the impact on investor and business confidence in u.s. markets. this is the latest in a series of technical snatches that have paralyzed the market l

and google, nasdaq, and from the nasdaq. and the dissemination issue. never good pr. machinery with have been the markets. and big canceled braids with goldman yesterday. and 31 trades. a nice little rise. what do you think? >> and the effect of these being redirected. they are moving rapidly. >> let's go to nicole petallides. nicole petallides getting reaction from traders. running around to find out what they are saying. any news from there. >> hand-held saying the nyse halted trading and on the nasdaq, 1226 so they put that request in. and on the hand held on this news, it is obviously a big deal. and the stocks are canceled back to customers. and buying apple or selling apple. cheryl: some apple service is back up after temporary outage. affecting the biggest names. dennis: did you say even the trades, would have moved to other exchanges working like the nyse, even those taken by other exchanges the nothing is traded on that. nicole: we said everything would be traded away but i saw on the hand held, and orders were canceled to the customer. looks l

some might call yesterday's nasdaq fiasco a nightmare for nasdaq's executives.tmare on wall street, knight mare with a k about knight capital's glitch. edgar perez is the author and he joins us at post 9. >> thank you. >> how would you characterize yesterday's event versus what happened with knight? >> it's a big difference. in this case we're looking at a change in nasdaq that is supposed to provide a fair market for all participants. knight was one company. $461 million, they satisfied that price for the other investors. but in the case of nasdaq, it's surprising to me that this is a company that actually is supposed to provide a fair market to everybody and was not able to provide so, and the explanation doesn't really satisfy me. i listened to greifeld today in the morning and he said he had some information right, but he got the information wrong for the consolidated to all market participants. it's surprising he has access to both sides, one is okay, one is not okay. >> his argument is liability is limited because everybody was at an equal disadvantage. do

critics say that the nasdaq handled this terribly.n fact, former chairman said the nasdaq did a horrible job. they handled this terribly. he is not the only one. there was not enough communication. this morning in my one-on-one interview, i asked him about the critics and he started to push back on harvey pitt. listen. >> i think it is hard for people outside. liz: you are taking a snack that harvey pitt. >> i am just saying for anyone that is not there. it is hard for them to know. hard for them to comment intelligently in terms of what happens. we solve the problem within half an hour. certain members made a request in terms of having a longer period to quote. that communication was there. i think to the extent that anyone was not involved, that was as active as you can get. liz: of course there was probably massive mayhem. many felt they were not spoken to. bob said they were having people talking and they had hundreds of phone calls incoming and they handled them. you probably won't hear that that was not the case. many people fel

the nasdaq rose and asked all the other exchanges not to trade nasdaq listed stocks either.had one of the come on of a book called broken markets. the decision was smart, but i thought especially in a crisis we lack information, liquidity in the ability it rate eases panic. was it a smart idea or a better idea? >> i would agree with you. they should have provided liquidity. and in a bigger picture cents, the retail investor has yet to get back into this pool market. glitches like this the way of releasing of the last three and half years that undermine reach of confidence in the market. so i would tend to agree. it probably should have allowed trading to go on in other markets and give that liquidity since. but nonetheless it still would undermine retail investor confidence. dennis: does this have to undermine retail investor confidence? add on trade stocks every day. this had no impact whatsoever. >> investor confidence is already very skittish. so the markets have been doing fantastic of last year's. this is the most unloved bull market in history. by now retell should hav

however, let's not forget september 11th, 2001, the nasdaq kept trading. nasdaq stepped in.s the competition can be good and helping. nnis: oh, but hillary, that was so 12 years ago. heroic and. >> it showed the importance of technogy. and we cannot forget what the nasdaq has become. going to a controlled company to a publicly traded nasdaq. dennis: let's go back. >> i like this hillary. i really like her. dennis: when something like this goes wrong, which would you prefer as a guy in the business, that the ceo of the nasdaq comes out right away and says we are looking into it. right now i don't know anything. he stays on tv and is talking all day. or would you prefer other silence and then at the end of the day they come out with some incomprehensible statement? >> of course that technology in getting that back up and going is great. from the standpoint of communication, you have to communicate because people will naturally get fearful without knowledge. people will start doing things they should not do. absolutely should have had better communication. dennis: hillary. >> j

the nasdaq, get to that.f course, microsoft doing serious damage control today after yesterday's three hour trading freeze which left investors and, of course, traders in the dark. this morning, i went to the nasdaq, down in times square to speak one-on-one with the nasdaq ceo about how that flash freeze impacted all investors. >> nobody wanted to be down for three hours, and if we had been quite wreckless, we could have been up sooner than that, but the procedures in place, the industry in place workedded well so we would say to any technology based company, we're not perfect; right? we're 99.99% perfect. we're not perfect. we have problems. if we do, we maintain a fair and orderly market. that's what we did yesterday, and it's important to recognize the fact we didn't trade for several hours. if you're a traditional long investor, mom and pot institutional investor, that three hours doesn't matter. you buy in the stock for the longer period of time; right? the fact is, every single person was in the same si

particularly for the nasdaq. dow rallied 66 points, s&p climbed 0.8% and the nasdaq advanced 1.8%, i think. i find what happened today profoundly disappointing. disheartening. you know what i'm? plain sad about it and angry too. to recap at 12:20, the prices just stopped. no one said anything. the quotes just seemed to freeze. we heard nothing from anyone. from anywhere about what was happening. the new york stock exchange continued to trade, and we don't know what happened at 12:20. the prices came back to life at 3:25. no harm, to foul, right? easy come, easy go. no official came out from nasdaq at that time either. what give, guys? let me go over this. let me go over why this is such a travesty. first, there are officials involved with nasdaq. it has a chief executive officer, got a chain of command. any one of them could have gone to the studio and said, we don't know what happened, all right? we are trying hard to figure it out and we apologize. we are sorry, we'll do our best to get to the bottom of this. t

they have nasdaq stocks, but no one knows where the nasdaq price or it's guess work or does someone have it over you? and then a battle plan should be drawn for when it goes down. i understand after 9/11 the stocks couldn't be traded but there was no physical infrastructure cause today. the s.e.c. should not tolerate this anymore. the s.e.c. has to act and act fast to make they're more responsive. that's no uber s.e.c., it's just the s.e.c. we want them responsive not only to the professional traders but from those who need protection from this nonsense. the s.e.c. should be enraged about it. i know this isn't life. it's just money. not a boeing passenger plane, an engineering marvel which is a virtual plane in a plane. so if the first plane breaks, the second plane kicks in. i happened to be on one, the second one kicked in seamlessly. okay, nasdaq we can't ask you to build the equivalent of a plane within the plane, but where is the backup system? why isn't there a server where the nasdaq can flip a switch and maybe slower maybe, but at some pace that makes you feel like it's not a far

those trades occur on nasdaq occur on the arc quarks but they're priced, nasdaq has to make sure thericing is right. what happens you get a feed, a pricing feed from the arca about those trades occurring on nasdaq stocks. ashley: got it. >> they said they were overloaded essentially from the arcca. they had many, many, many more times and they describe it in sort of scientific language that i'm not going to bore you with, many, many more times. ashley: buried in data. >> buried in data that is obviously a problem with the arca sending problematic pricing to -- ashley: is that what triggered it? >> that is what triggered it. they spent problematic pricing or too much and overloaded the nasdaq system. this is where the nasdaq says it is at fault and it clearly says that. it did not have the systems in place to essentially work through that. this is known as redundancy. in case one part breaks down, it can't digest something, you have another backup system that comes in and makes sure that the thing runs okay. they're basically saying, it is pretty clear language they don't have that. n

get back to the question of nasdaq.horoughly explained this to the satisfaction of investors and market participants? >> stock price reaction would suggest they haven't thoroughly explained or people didn't necessarily like the explanation they gave. we're not completely sure why it happened. what connectivity issue they had and what technology might have failed. so i don't think it was thoroughly explained but we'll getting more information about that over the next few weeks. adam: the fact when you're the second largest player in town people don't have much of an option, they will have to play with you, with nasdaq, correct. >> to an extent but remember there are all sorts of alternative trading venues. trading could have taken place on not only new york stock exchange and electronic data networks and bats and some dark pools as well. even though they are a big player they're not the only player and some of the traffic it can move to where it will continue to flow, let me switch gears a little bit to the u.s. economy.

the dow,s nasdaq, s&p, all testing support levels today. there's the nasdaq down 72 points. bic big decline of almost 2% at 3585 and change. the s&p down 1.5% down 23 points at 1633. this month shaping up to be one of the worst for the us stock market in more than a year. bob pisani, everyone on the floor, must be talking syria. >> you have problems when everyone's reading foreign affairs policy magazines. the problem is sesi syria is ata tipping point. the government problems, german elections, get a stew of uncertainty and syria pushes you over the top. ten-year yields moving down. sometimes in the past a big help to the market. not anymore. yoesh l overlay there. ten-year yield today. you can see moving down. stocks moving down on top of that. i want to point out and not minimize, syria is a major problem, but the market internals are not that bad. volume moderate. yesterday the lightest full day of the year. bottom line, no stampede to sell, a buyer's strike. low on volume. quick to point that out. roughly one. no big fear there. a lot of people holding on to longs, doin

the view there from the nasdaq.o end on this is probably the most important thing happening today. and this is niss major rally you have had in parts of the market. that pushed the yields on the 10 year from 2.92 right the way down to 2.8. we have had some recovery on the yield since then. okay but you still have quite a dubbish view. those people that aare talking about an exit. michele over to you. >> federal regulators may be about to turn their attention toward high frequency trading and traders. that is coming up next and speaking of regulations the fda looking at e cigarettes. are profits to those companies about to go up in smoke? it can't be cable without a really about pun. if you're serious about taking your trading to a higher level, tdd#: 1-800-345-2550 then schwab is the place to trade. tdd#: 1-800-345-2550 call 1-888-284-9410 or visit schwab.com/trading to tdd#: 1-800-345-2550 learn how you can earn up to 300 commission-free online trades tdd#: 1-800-345-2550 for six months with qualifying net deposits

technical issue is all the nasdaq said to us thus far. they said they won't be canceling any open orders but customers can cancel orders if they want to. dennis: right. okay. we've got another guest to maybe shed some light on this. todd schoenberger joins us. he monitors the markets and follows that awfully closely. todd, what do you make of this? i'm surprised the nasdaq still doesn't know exactly what went wrong. and traders at cme are saying no impact. the dow jones is up 50 points. so people aren't that upset. it is almost as if this is becoming commonplace, todd? >> well, that's the sad thing about it, dennis, because electronically we hear about these stories from the electronic market centers. you heard about bats. obviously the facebook

the nasdaq blaming itself and the new york stock exchange.he nasdaq saying it did not have an adequate backup system. charlie gasparino spoke with bob greifeld just a short time ago. investors seem to be putting their faith in a better than expected economic reports. trading higher, the dow hyder by 50 points. the s&p higher by nearly a point. the previous estimate was a gain of 1.7%. the number of americans applying for first-time jobless benefits falling. that number coming from last week. the shares of two auto stocks getting a big boost today. >> i am at the ford post. they are increasing production of the fusion for the first time. it is behind the f150. the other auto maker is general motors. we are getting commentary. this is the reason why. it has been very bullish. they say the move reflects continued improvement in the company's profitability here in north america and stabilization in europe. they also had that it could lead to an upgrade for general motors in the next 24 months. cheryl: we will see you very soon. we are rounding ou

behind the trading trouble that took down the nasdaq. in today's cover story... the president's aggessive plan to ease the burden of college debt. plus....the conversation over employee wages goes rogue in traders unplugged. and....the wheels are in motion for high speed transit... a look at the 3d blueprint. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's friday, august 23rd. i'm angela miles. in today's first look: trading turmoil at nasdaq-- traders and investors will recover today from the exchange shut down yesterday for more than 3 hours.the broader market rallied thursday, despite the trading halt. gold and oil also edged higher. in earnings after hours-- pandora reported growth among mobile internet radio listeners.however it also had a larger loss.shares fell 4% after the close.a report says i-tunes radio will be ready to play next month.the internet radio is apple's answer to pandora. and, mortgage rates rise.concerns the fed will start tapering its bond buying program

nasdaq is the latest to get knock out. this past week alone, amazon, "the washington post," "the new york times," cnn, all hit, all down, all vulnerable to something or someone that seems to have no trouble penetrating their security walls. the s.e.c. says it is monitoring the situation and is in very close contact with the exchanges. the president of the united states just briefed on this during a bus tour in the midwest. secretary jack lue is speaking in cal can this hour. we're all over here in new york city. with charles payne at nasdaq with what might have caused it. rich edison in our nation's capital, everyone on high alert for a repeat of it and charlie gasparino on how it's not just the nasdaq behind it. we begin with charles payne. charles, what happened? >> well, neil, welcome flash freeze. what happened we don't really know yet. from the nasdaq out of the gate they said there was a problem with quote, dissemination. it's a euphemism for we don't know what the heck is going on and we may not for a long time. i c

the nasdaq added 19. the s&p was up 6 points. >>> as bill mentioned, the drop in home sales was bigger than analyst expected. they plunged 13.5% in july, the biggest decline in more than three years. that meant home builder stocks suffered big losses with names like ryland, kb home and more. until now, the booming sector was a strong sign the u.s. economy was on the mend. hampton pearson has more. >> reporter: july new home sales may be a test for what higher interest rates can do. sales are down double digits to 394,000 adjusted annual rate, the slowest pace in nine months. june also saw a downward division to 455,000 from 497,000, that's according to the commerce department. >> we've had a strong run in housing like the stock market and some correction was invefble. >> reporter: potential home buyers deciding not to pull the trigger and sign a contract now that the average 30-year fix the rate mortgage is 4.58% according to freddie mac, up a full percent since may. >> we've seen rate increases and seein

nasdaq needs to have a fail-safe system. they don't. they shouldn't be allowed to operate until they do. >> you know, ben stein, i do remember the days when you look at the floor of the stock stock and it's crowded with people. now it's tumbleweeds. so i'm wondering what happened? and is that the problem? have we taken the human out of it and made it so high-tech that it's high problem? >> the only way this would happen if there was the open crisis on live hoom an trades and if they all ate the same fish for lunch. but the bad thing is -- the question you have to ask is -- they could have. no question. how much better off are we with the computer system? i don't know that there's been any doubt showing we are better. there is more liquidity. but for the long run, stocks are certainly a heck of a lot better. >> there's more liquidity. >> but does it inhibit trade? obviously you don't see it in volumes. but could it inhibit trade? >> yeah. listen, it could be really bad. by the way, studies are all over the place on just net-net which is

nasdaq was going to trade anywhere, the nasdaq is responsible for the pricing and making sure the dataks are priced right. that is the regulatory system we have. from what i understand what forces are telling the fox business network we are going to get a lot more. i will say significant detail on exactly how this breaks down as soon as the sec approves it. i have sources in washington telling me they are likely to approve this today. nasdaq we should get out is not commenting on this for good reason. we should point out wyatt nasdaq, come under tremendous pressure because of this thing, the sec is investigating obviously. last thing they want to do is end up in the cross hairs of the sec anna systems malfunction but i'm getting this from my regulatory sources that this could come tomorrow but it is with the sec. what might it say? i think the way i am hearing this, this is pure surmise, somewhat speculative but take it for what it is worth, somewhat positive to the nasdaq, that will show it wasn't necessarily total malfunction at the nasdaq but something more along the lines of unavoi

that is an expectation on the nasdaq. how are you feeling now about what happens on the nasdaq?ou frustrated? >> it will advance the technology further for progress. we have been partnered with the nasdaq, very please with sandisk access to the capital market and participation in terms of growing the company to scale the company and to really make a fortune 500. cheryl: the executives reach out to you to be confident, we are working to of the infrastructure? >> absolutely we are committed. he was certainly looking forward to continuing growth and the opportunities for sandisk and nasdaq. hold on just a second. we want to know which of the most accident prone cities in the nation for drivers. we ask that question and we have details. oh, my goodness. you know throughout history, folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. ♪ cheryl: said do want to show you th

i think the nasdaq did a great job with the big guys.hey did a great job talking wall street and they did a great job with the regulators and dealt with the issue pretty well. like put a cork in it very well. they dealt very well with their big customers and list of companies. >> two e-mails. >> you got two e-mails. >> i guarantee the apple people were on the phone. >> i'm telling you, it's how in 2001 and the computer has just started taking over here. >> but it hurts the retail guy. that's who really got screwed here. the average investor sits back and says, why am i in stock? i'm not a guy that pumps stocks up, but doesn't take a rocket scientists to figure out it went from 6 to 15 in a couple years. if you were out of it, you missed making a lot of money. >> we like to have people think at home it does take a rocket scientist. >> it actually doesn't. >> well, that's good. >> when we come back, the people working here can learn from this college sophomore in atlanta. still listening, washington? [ male announcer ] this is claira. to p