have you ever seen a four-letter symbol on the nyse? >> no, no, wait a second. it's either the nasdaq or that's the wrong symbol. >> i didn't understand what was written at the beginning. it says -- >> disregard that. >> we'll look. >> microsoft and nokia reach ago deal to put microsoft office on to mobile devices. >>> bernie madoff's right hand man working secretly with the fbi. attorneys are portraying him as the man who can unlock madoff's ponzi scheme and potentially make cases against other defendants. the judge ordered dipascalli jailed immediately. some of the quotes, did you see yesterday afternoon, watching the quotes, the flashes from what he was saying in his words that he was very, very, very sorry. >> there were some victims outside who weren't buying a lot of it. >> no. >> as in the courtroom who were saying, yeah, you're sorry and i've lost everything. >> incredible. when we come back this morning, an early round of analyst calls. >>> welcome back, everybody. take a look at the futures this morning. they are in positive

and finally, betty, a historical day here at the nyse. for the first time in 217 years, traders are allowed to wear blue jeans. gap has outfitted every trader with its 1969 premium jean today in honor of its 40th anniversary. >> talk about advertisement right there. you have blue jeans on? >> i am wearing my own. >> you're wearing jeans, though? >> it's this special day. this is a culture, the new york stock exchange has never ever embraced casual workday. and so this is a one and only. and, yes, i kind of -- >> can we pan down and see your jeans? >> i'm going to be on the floor later. >> i wish i would have known, i would have worn jeans too. you've got to tell me these things, susan. >>> well, this is quote deeply depre destressing, that's how they explain the embrace of megrahi. he was greeted, in fact, by a cheering crowd upon his arrival home late yesterday. look at all of those people. he had been released hours earlier from a scottish prison and cnn's richard roth with that decision and the reaction. >> it is my decision that mr. a

i'm maria bartiromo on the floor of the nyse. tonight, a rally underway. looks like stalks staged a biggs comeback led by better than expected retail earnings and growth in single family home building. the rally giving a boosted to the energy markets, oil up $2.44 a barrel, better than 3.5% closing at $69.19. hewlett packard moments away from reporting third quarter earnings. going to be a big report because it could set the tone for tomorrow. we have instant reaction, inside info about the quarter for you coming up as soon as they hit the wires, we'll have the numbers for you and give you the investor reaction. take a look. the dow jones industrial average holding on to a gain although off the best levels of the session with a gain of 81 pointw about 1% at 92.16. nasdaq strong, technology one of the leadership groups along witp financials, up 25 points on nasdaq, better than 1%. and the s&p 500 tonight up ten points, about 1%, at 989. all the action from the floor from bob pisani. >> the important thing is we flipped around completely over yesterday. the

a billion shares traded here at the nyse with the dow finishing at 9,544. nasdaq was higher but just a fraction. very much a mixed situation for technology as well as financial services. the home builders and the retailers doing well today. s&p 500 up a fraction, finishing at 1,028. we get all the action right now from bob pisani, our eye on the floor of the nyse. >> there are people who were a little disappointed today. they said we should break to convincingly new highs on the new home sales numbers. but look what's happened on the year, we've been up 4% already. for the month. when people felt we would be down for the month of august. in a sense the market's already anticipated some better news here. and i think that's really the takeaway. >> you have to believe the valuation starts scaring some people just because there are operators of business who have their eye on the ground right here and they say we're not necessarily seeing the robust exuberance that the market is reflecting. >> that's right. go out in middle america and that's exactly what you'll

. >> and maria, our team is covering the markets, the nyse, the nasdaq, and the nymex. but first to our bob pisani who is our eye on the floor at the new york stock exchange. bob, they want the market to go down. it's just not going down. >> and it's been frustrating for a lot of traders because bulls and bears seem a little bit invested in getting a bit of a drop. bears because they don't think the market is worth it at this level. balls bulls because they want a drop because they want to buy lower. let's take a look at what happened in the middle of the day. the bottom line is this -- stocks declining an opportunity to drop once again here. we are back in that trading range that we've been in throughout the whole month of august. there was only that one day on monday where we actually saw real selling pressure and other than that it hasn't been around for the last month. as for what's moving, commodities. the dollar is lower here, been strong all throughout the day. speaking of commodities oil's been strong all throughout the morning. weekly oil inventories showed a d

the nyse, the nasdaq, nymex, and the floor of the cme group in chicago. we start with bob pisani who's the eye on the floor of the nyse. >> basically, traders wanted the status quo, and by and large that's what they got. they got a little more positive comment on the economic situation. so here's why we're moving here. number one, basically unchanged from the fed statement, but more importantly, economic activity leveling out. a little bit of an upgrade from the prior statement. more finality on quantitative easing. you heard from steve, full amount purchased bit end of october. pretty much status quo for everything else. inflation remains subdued for some time and interest rates low for an extended period. look what happened. watch what the professionals are doing. the xlf, the big etf for the financials here. they moved up on very heavy volume right after the fed meeting. a little bit on the down side. then moved up again here, indicating people were pretty happy with the statement overall. same with the tech situation. here was again your market leader

joining me now is the ceo of nyse duncan niederauer. duncan, great to see you again. warren buffett had an op-ed in in the new york times this weekend. let me read you what he said. the united states economy is now out of the emergency room and appears to be on a slow path to recovery. the deficit will rise to 13% the gdp. fiscally we're in unchartered territory. do you agree with his expectations about his economy? how does the broad fundamental landscape to you? >> it's hard to disagree with what warren laid out in his piece, right? the good news, the government stepped in decisively and did what it had to do. as warren points out the way they did that was by spending, spending and spending. those chickens come home to roost eventually. i thought his piece was right on target. i think we need to see the government shift more to we know that's the issue we're going to have the solve. good news we avoided a calamity. now, how do we handle the problems out on the horizon next? >> do you feel like there's an exit strategy in place? some of these programs from the federa

. >>> erin burnett, at the nyse, starting us off. thank you. >>> now to another bigger to on the radar these days. health care. at members of ngress return to their districts for their month long summer break to hear from their constituents, the shouting at so-called town meetings has sometimes reached a fever pitch. it's raising the question -- is it genuine raw anger or focused, organized anger, or perhaps a mixture of both? our own kelly o'donnell live in washington tonight with more on this. kelly, good evening. >>> good evening, brian. members of congress expect to face plenty of tough questions back in their home towns from people who want to know what is going on with health care reform. but the surprise is just how out of hand these town hall meetings are getting and who is behind the spectacle. temperatures rising across the country. from florida to michigan, texas to colorado. the townhall meeting is democracy 101. >> we're not a member of a mob. >> reporter: forums for free speech. >> i actually have read this bill! >> yea

. >> i was alone in that cell by nyse 4 hours a day with lights on all the time. >> reporter: but allts haven't crushed iran's reform move, which is planning more protests in the days to come, aiming to weaken an already nervous and divided regime. elizabeth palmer, cbs news, london. >> couric: here in this country, more than 100 people were sickened by dangerous fumes today in new bedford, massachusetts. it happened at a waste transfer station where trash is sorted. several workers passed out, then first responders-- including paramedics-- got sick. two people are in critical condition and authorities don't know what chemicals were in the trash. coming up next, healthy lungs taking over the debate over health care reform. stay healthy - and get on with my life. it comes from liberty medical. and now, it's not only where i get my diabetes testing supplies - but it's where i get my prescription drugs as well. see if you're on medicare, the cost of your diabetes testing supplies as well as your prescription drugs may be covered. liberty takes care of all the paperwork with medicare and

stm is a big percentage gainers on this august friday on nyse. j.he street on the fiscal second quarter earnings. we've got lots of focus on the consumer today but that is not helping bebe stores posting the second quarterly loss in a row. now, projecting a loss this quarter as well. that was not what the street expected and the stock is getting hit relatively hard today. melissa? >> all right. >>> time to get a quick check on what is making news outside the world of business. alex witt is standing by from msnbc. alex? >> good morning to you. here's what's going on. a second day of public viewing is under way at the jfk library museum. on thursday, full 25,000 people passed by his cassette, aket, ay their respects. the mow motemorial service begi tonight. president obama will be there to deliver the eulogy at the mass. the casket will then be flown to washington for burial at washington national cemetery. >>> this horrific story. 29-year-old california woman reunited with her mother nearly two decades after being kidnapped by an 11-year-old by a reg

. >>> the fruits and vegetable distributor was among the most active names in the nyse today. >>> welcome back to "fast money." here's what we have in the second half. you may think the rally is here to say, but one indicator has options trader saying getting ready for the fall. was the rally just bottom fishing? our chart of the day may have you looking differently. >>> first, aig were busy rallying. shares of private equity companies blackstone and fortress investment group, up around 30%. fortress had particularly good earnings, even the fund the drawbridge fund posted a positive return. >> you saw blackstone, that was the one that was real interesting. they posted a q2 profit, the first in the year. you look at this private equity space, what do you see? an improving market market, also some increased m & a activity activity. they're getting actively involved in the advisory role and that lines up well. assets under management, assets are coming back in, these guys have a lot of cash to deploy for deals that are well overdone, but i would say these guys bought a lot of deals and they'

that's 20% of the nyse follow um is in citi as the stock has gone from 3 to 4. small pull-back yesterday, i think that name can perform just as well, if not outperform bank of america. >> you said "if" commercial isn't that bad. that's a big "if." the different could be that they're writing it down up front right now, putting aside enough reserves to offset those losses and maybe we aren't seeing that at same degree -- >> federal realty yesterday put out 1.7 million shares out to the public at $57.50. the stock's $60 today. there is a risk tolerance at least coming into the commercial area right now. i like what this is showing us right now. at least the risk is there. doesn't mean it is oemp but risk is coming back into that sector. >> brookfield properties today, a very big new york office space exposure, they did an enormous offering, snapped that up, $900 million they raised. they cures a lot of ills when you can raise thatch money. markets there, why not. >> the fomc, they'll come in and buy commercial mortgage-backed securities. they'll support tose risky

i'm maria bartiromo along with scott wapner on the floor of the nyse where we see continuous buying in this market. >> you still hear that word resilient when describe the stock market. energy prices pulling back today. oil is down and yet the market is holding up fairly well. you know about the good news we got today on the housing front and certainly from the consume sneert case shiller report, better than expected on housing. we've got confidence numbers expected, as well. you make a good point on oil. yesterday, oil prices at ten-month highs pulling back today, taking some of the major oil producers down with it. that's not hurting the dow because you still have the double digit lows although it is off the peak with the dow up 50%. it was above 9600 early. check the nasdaq, we seimone moving into tech as well, though it is not necessarily one of the leadership groups on the upside. up about seven points or so holding above 2025 on the nasdaq. the s&p 500 looks like this with the standard & poors up four points. largely due to weakness in some of the oils today, the oil producers. >

on the trader radar tonight, the educational software stock was among the most active names in the nyse today. >>> welcome back to "fast money," well today's actions reminded us this is still a trader's market. what stock should you sell now and buy back when they're cheaper? joining us now with ideas, snb capital's senior trader. welcome back to the show. walk us through ibm. >> well, ibm is a great trading stock right now because guy you talked about this a little bit, we looked it at $100 range and traded between $100 and $108 and then it found resistance at $120.. if you were short at $120, you could be making about $4 over the last like three weeks. and that's -- i tried to actually buy ibm today at $116.50, i did not get hit. i was going to see if i could play them back up to that range. >> whenever it's at $116, you would recommend buying and selling. >> you play the range, and it's a great opportunity to take advantage even though ibm is an upward trend, it gives you the opportunity. keep on taking advantage of those four points and it gives you a competitive advantage over a lo

the numbers from a trader's perspective, we have steve grasso and stuart frankel on the floor of the nyse. also rick santelli at the cme group in chicago. wonderful to see both of you guys. steve, what are you looking for tomorrow? >> i think the adp number -- >> 9.6, 275? >> can you hear me? >> as long as we are 9.7 and lower than 350 is the number we're looking for. adp allowed for us to widen that number. i think before that we are looking substantial lawyer than that. but i think adp widened the scope a little for us. >> a lot of times we have seen most recently that these numbers are coming in a lot worse than expected. what will that do to the bond market tomorrow, rick santelli? >> before we get to that. i think i have a big bit of news here. i started asking trader what's they thought but i ended up on the phone with charles biedermann from trim taps. there's something unusual going on. larry, listen to this. there could be a benchmark revision from job loss from january through the end of may to the tune of 500,000 to a million more job losses because -- larry was talking about h

live to bob pisani on the floofrt nyse with more on today's action. bob. >> you can say it's low volume, we're sort of churning around not doing much but intraday if was really quite exciting. there was a lot going on. >> down how many, 80 points? that's a major reversal. >> let's take a look at the key movers. first financials. i can't emphasize enough what are called high beta financials and their impact on the volume here. four or five stocks that are significant portions. up to 40% of the volume on the new york stock exchange this week. just look at aig. and of course we had a whole hour essentially discussing various aspects of aig. the bottom line is this. not only was there a short squeeze it has been going on for weeks, but in addition, mr. benmosche making some positive comments in the last week. then recent revelation that's mr. benmosche was in fact talking to hank greenberg, also helped move the stock up in the last day. i hope you heard what we were talking about in the last hour, mr. greenberg calling in to cnbc and saying those recent r

let's get to aur team covering the market here at the nyse as well as around the horn, and we kick it off of course with bob pisani down here at the big board. bob? >> hey, maria, good to see you as always. i'm a little disappointed, folks. we got great economic news this morning on those new home sales numbers and the durable goods and we've had great economic news for the whole week. how come we're not breaking out to decisive new highs here? look what's going on. we should be doing a little better. instead what we're getting, summer leaders that are weak. industrials, commodities, financials, those are the stocks that fd mouse higher in the last six weeks, those are the ones that are lagging today. what's moving up? the ones that were laggards. telecom, consumer. maybe this is sort of normal rotation, maybe something else here. but it has been noticed that they're rotating out of those high better names and into more defensive names here. take a look here. telecom? come on, folks, telecom has lagged all summer here. it's not like there's great news here. they've just lagged. same s

let's get to bob pisani, our eye on the floor of the nyse, with all the happenings today. what does the day look like? how about the week? >> we did have a great week. before we get to that you were noting the dow jones reporting -- or "wall street journal" reporting the dow jones index might be for sale. they said they would neither confirm nor deny that story that the business was for sale. however, they did say that the possibility of a sale has been raised before, rufrmz hmors had floated in the past even prior to rupert murdoch's acquisition of dow jones. two important points here. moved stocks up earlier in the day. mr. bernanke came out in a speech, saying the economy was on the verge of recovery. this all happened at about 10:00 eastern time. up for four straight months. that's the good news. the bad news is there's no real move up in the inventory no, real move down in the inventory, excuse me, unchanged for the month here. commodity stocks were strong as they were the last four days on the weakness in the dollar. and we did have some strength as the oil breakout

the casino stock was among the most active names on the nyse today. >>> welcome back to "fast money."ere's what we've got coming up for you in the second half of the big show. the one, the only regis philbin comes to the nasdaq to get? trading tips from this desk. and do you buy jpmorgan on today's meltdown? we've got that trade coming up. >>> plus the ambassador brings us the foreign telecom trade that is a on fire. but now for today's edition of "pops and drops." we kick it off way drop. fluor down 6%. pete. >> a huge run with the majority of the earnings coming out from the engineering space but today a big drop. pullback. probably a great opportunity. keep an eye on fluor. >> another drop for sprint. >> it is a 3 1/2 dollar stock. it's maybe a little overstated. however, they were cut by piper jaffray to underweight from neutral. >> yum brands was down 4%. guy. >> downgraded ubs on valuation and they are rich on valuation but morgan stanley just upgraded these guys a couple days. so the stock keeps having trouble with 36 but i still like the name. >> we've got a drop here, literal

take a look at where we are as i bring in bob pisani here, our eye on the floor of the nyse. bob, we've got the dow jones industrial average. close but no cigar. holding on to that 9,500 level but only up about 5 3/4. >> we have people who think the momentum can carry us all the way to 10,000 despite the fact september is traditionally not a great month for the stock market, it's the worst performing month overall. energy's been strong, financials have been strong, and theoretically that's the way we should be able to do it, folks. here's the problem. you get little comments from key players that remind us we're still in a very difficult position and the financials tend to bifurcate. there's our story for the day. take a look at what's going on here. financials in two different positions. there's your outliers there. the important thing is high beta financials. that's your fannies and freddies and citigroup have been up huge today on big volume, and i mean massive volume. i'll show you in a minute here. dick bove had some comments on some of the regional banks they're all dow

the largest publicly trading sports firm was among the most active names on the nyse today. >>> welcome money." here's what we got coming up for you in the second half of the program -- could trouble be brewing in the red hot efts land. we'll tell you the levels to watch. >>> and our "final trade" is your first move for monday morning. >>> the u.s. seems to be taking its cue from other nations recently from following china to watching your stocks prosper with more effective stimulus package. is the u.s. losing its grip as the world's market leader. former commerce secretary, carlos gutierrez, is with us. but first we'll listen to the setup piece and hear what he has to say. time and again history has witnessed the shattering rise and shattering falls of great civilizations. 476 a.d., the fall of the roman empire. 1945, the demise of british colonialism. 2009, the end of american world dominance? once the leader in global commerce and controller of the globe's currency of choice, the u.s. may be sliding into second place. in its scramble to avoid a deep depression, the federal government

look at all the action on wall street right now from bob pisani, our eye on the floor of the nyse. >> the bad news today over in japan where it didn't jump as much as they wanted, gdp. this decline is pretty modest. the only bad news is we really didn't get much of a

thanks for coming to the nyse. >> great to be here. >> happy anniversary google. shares climbed nearly 350% sense its first day of trade five years ago today. so is it worth buying now? we're going to try and find out, next. >>> plus, auto dealerships across the nation are saying show me the money. details on why they're not happy with the cash for clunkers program is all coming up on "the call." some people buy a car based on the deal they get. others by the car of their dreams. during the lexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 es 350. diarrhea, constipation, gas, bloating. that's me! can i tell you what a difference phillips' colon health has made? it's the probiotics. the good bacteria. that gets your colon back in balance. i'm good to go! phillips' colon health. >>> okay. welcome back. cbs news.com is reporting that "60 minutes" producer and creator don hewitt has died at the age of 86. hewitt began at cbs news in 1948, created "60 minutes." 20 years later, it is currently the longest-running prime

the dow finished near the highs of the day. 9,350. 1 billion shares traded here at the nyse. technology. citigroup is up 8% today. nasdaq up 20 points. that was just over 1%. 1,989 on the nasdaq. and the s&p 500 up about 11 points at 1,007. have a fantastic evening. i'll see you tomorrow on "closing bell." "fast money" is up next. thanks for being with us. >>> the obama administration says its cash for clunkers program will wrap up monday night. transportation department analysts project there will be enough money for submissions through monday's 8:00 p.m. eastern deadline. >>> and regulators in the u.s. clear a deal to buy sun micro. it still needs europe's approval. >>> and net profit falls on sales for gap, but profit margins and online sales improve. >>> that's cnbc.com news now. "fast money" with melissa lee starts right now. >>> stocks rising for a third day. is the bull run back on? these traders have your answers and the winning ways to play. i'm melissa lee. this is "fast money." stay tuned until later on in the show. pete najarian will talk to john madden. they'll t

thanks for coming down to the nyse. >> up next, central bankers have no shortage of issues to addressthis week in jackson hole, wyoming. >> and fed chief ben bernanke is a hero to some. but he is being heavily criticized by others. so did mr. bernanke save the world? that's straight ahead in today's "call of the wild." y... ♪ what do you think? hey, why don't we use our points from chase sapphire and take a break? we can't. sure, we can. the points don't expire... ♪ there is nothing for me... ♪ there's no travel restrictions... we could leave tomorrow. we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. (announcer) we understand. you need to save money. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (a

we get all the action right now from bob pisani, our eye on the floor of the nyse.ere, bob. >> and look at this. three days in a row we tried to push them down right at the open three days in a row, and three days in a row it moves up. despite the big down day on monday. certainly very impressive, folks. we thought we'd have a chance four it down and it's not worth it. take a look athe

let me bring in bob pisani, our eye on the floor of the nyse today. bob, what a reversal. >> yeah. and there are really two parts of this rally. we had an earlier part of the day led by financials and then a little later about an hour ago we saw the dollar weaken some of those commodities and industrial stocks really started moving up. all right it's light volume but still it's a perfectly valid move on the up side here, folks. let's take a look at some of the big names going on here. first aig. and of course a lot of discussion. it's a pretty simple story folks. late in the day american international group yesterday, there were rumors floating around that perhaps mr. greenberg would be invited back at this point. that was just a rumor but then late in the day we did get some confirmation from reuters that mr. benmosche, who is the ceo of aig, was talking to mr. greenbe greenberg. the stock moved up toward the close and again here a fairly javy volume well north of 100 million shares. citigroup, what can you say about citigroup? ever since we had that move away from the preferred s

nyse euro nex winning the battle with nasdaq so far this year.data from thompson reuters shows a lead of 11 to 4. the bigboard said to be benefiting from a decision to loosen listing requirements. there is a multi year marketing alliance that presents marketing change. >> solder winds. a big board -- i mean, you think big board, you think a certain size, a certain quality. you don't think quite as speculative. >> interesting that they've relaxed their listing requirements. >> you think profitable. >> you think blue chips. >> bluer, anyway. and then nasdaq, you don't necessarily think pink sheets, obviously, but you think nasdaq, sort of, and i think a lot lines are getting blurred now, aren't they? >> they are. >> the first earthquake i was ever in changed my view. it was a reset. >> it was. >> like i rebooted. >> do that again. >> i rebeated. first i sat there for a while and then i finally tart staed to come up. i had to hit f1 and hook up windows if you want to continue. >> we could turn you off. that would be actually really neat. >> you can

macro shares major metro housing down, ticker dmm on nyse. i guess those are some sort of etf-like vehicles, and you ought to check they out. r.r. donnelley, ticker rrd, a printing services provider, celebrates its move to the nasdaq. >>> let's get straight to our market reporters. we're up, down about 12. >> we saw futures week all morning as the adp report came in weaker than expected. and of course the big number's on friday. on earnings, a mixed run here. procter & gamble deep by a penny, but if you look at the volume, declined 4%. organic sales growth was also weak. their earnings guidance for the current quarter a bit below analyst expectations as well. here's what's important for kraft. they had a bit different situation. they had pretty good sales growth actually here, a bit better than expected. the full-year guidance as well, that stock is now opening just down 1%. transocean, which is an oil rig company essentially reporting what most of the big companies are reporting as well. poor demand causing revenues to drop 7.6%, their secon

american dairy sticker ady, american dare vi a chinese milk producer, celebrating stock exchange from nyse arca. my guess is keeps them cachet. >> it is funny that it's called american dairy and they're based in beijing. do their cows live in america? >> they're lovely, i would like to take them home. at the nasdaq, intersil corporate. ticker isil, they make analog and mixed signal semiconductors. >> our market reporters are standing by. let's get straight to them. bob pisani, take it away. >> -- pricing secondary, a little higher than announced earlier here. we're waiting for this to april and it did just open here. up 67 cents. so that's a secondary from big bank bbp. we've got a positive tone here. asia was positive. you heard about everbright securities in china up 30%. asia is generally higher. europe higher and retailers are generally higher here. they're all reporting better than expected numbers here. so we got home depot they're up nicely here pro-open, they just opened up 4% here. earnings are better than expe expected razes their full year guidance. target up 5% preopen. target

short interest in the stock, 18% of its float compared to the slightly less than 4% average for other nyse stocks. the stock rally, investors hoping to buy it back at a lower price and pocket the difference, they have to buy it back to limit their losses. the result is adding fuel to a fire, more buyers mean bigger gain and volume. yesterday the stock traded at four times its ten-day average and fright now about one-and-a-half times that level, just two-and-a-half hours into the trading day. so one other thing to note about aig that's interesting. right now. the average size of the trade is about 213 shares. and this suggests to some traders, you have to consider, as well, there is a 20 for 1 reverse stock. so the 213 shares becomes over 4,000, and the price at 50 actually is just about 2.50 on aig. a couple interesting things. >> very confusing. >> let's talk more about this. thank you, mary. talk with bill patrick with opteak capital management. what's your opinion, bill? whether this is a warranted rally or not? >> yeah, i'm not convinced this is warranted. i have my doubts about hank g

. >> there are a lot of issues at the nyse right at the open.me trades were declayed right at the open. there were floor traders, for example, who didn't get order acknowledgement, which is very important for their customers. that has all been resolved now. everything is working fine. they are still working to resolve earlier issues with the earlier orders that didn't go through properly. so bottom line is, i've asked for an interview with the head of floor operations, in charge of the systems down here. we'll see if we can get him on in a few minutes to explain what happened. still waiting for that. back to you. >>> and next -- sglo-- >> up next in your cnbc adviser network, why now in all the turmoil and contentious town halls around health care could be the best time to grab some stock in the health care sector? >>> plus, the faber report, david has more about the cit headline that's cause that stock to surge yet again. we will be back with that. market coming back a little bit. we're down about 21. we'll be right back. reading about washingt

joining us at the nyse hooper, chief economist of deutsche bank securities fund, joining us from midtown, managing director with zypher. and, of course, steve liesman. peter, are things as bad as roubini thinks? >> mark, we're in for a relatively sluggish recovery, but we follow up, it's going to be a significant bounce from here. even if we don't get any consumer spending, business spending is dormant. the drop in inventories we've had over the last couple of quarters, we do back to zero inventory accumulation is zero to growth. the fiscal stimulus already in the pipeline as another percentage point. so baseline, 2 percentage points over the next four quarters, at least, has got to be some bounceback in consumer durables. we're seeing the autos pick up. helped by the cash for clunkers. more fundamentally, demand there. and you're going to begin to see business coming back from a very low level spending. and finally, home building, we're starting to see some signs, but that's a very low level. we're going to start at a tremendously low base, bounce. looks good, 2% at least. that's sluggi

have you this cash for clunkers program, which i hear is getting some traction on the floor of the nyse. people are saying, well, if people are putting their budgets towards a car, maybe it will come out of the retail picture. what do you say? >> that's certainly a possibility. what we are seeing among the retailers reporting today is that the items that are most discretion ary are the ones under pressure. consumers are still spending for the needs but they're not spending for the wants yet. >> do you see any point at which that turns around? or if you think that continues, what's the best way to invest in the sector? >> we are starting to see some inflection, frankly, in some of the retailers' results today that are not at the value end of the spectrum. michelle, as you know, over the last 6 to 12 months, the retailers at the value end of the spectrum are the ones that have been really beating and doing very well. we saw quite encouraging signs today out of urban outfitters, for example. night sequential improvement in their sales number and they're not positioned at the value end. chi

haines at nyse. >> to these who build our bridges and roads and more. kpmg takes inside a new study. >> then big spenders who want to get married. why tight wads and spendthrifts tie the knot. no update on the divorce rate of couples. it was a perfect fit. find out more at aflac!... ...forbusiness.com of the world's most revered luxury sedan. this is a history of over 50,000 crash-tested cars... this is the world record for longevity and endurance. and one of the most technologically advanced automobiles on the planet. this is the 9th generation e-class. this is mercedes-benz. >>> i'm hear thompson at the breaking news desk the the s.e.c. filing civil fraud charges and others against general electric, parent company of cnbc, saying it misled investors by reporting false and m misleading results in its financial statements. without confirming or denying guilt, ge agreed to pay a $50 million fine concerning events that occurred in 2002 and 2003. the s.e.c. alleges ge used improper accounting and reported negative financial results including ge's commercia

for every stock that bounced yesterday at the nyse, there were nine that declined. so when you see big gains, the market is telling you when you're seeing such a lopsided kind of performance. and what the market was telling us is that managed health care, the market believes that the managed health care companies may have dodged a very big bullet. well point, united health jumped more than 2%, cigna jumped. just remember, when the three major averages were down, at least 2%, the moves coming after health and human services secretary kathleen sebelius telling cnn over the weekend that creating a public health plan is not essential to a health care overhaul, instead, non-profit co-ops may be used. and that could give a boost to private insurers. >> but wait a minute, suzanne malveaux just reported about 29 minutes ago here on cnn that now it's looking like linda douglas at the white house is saying, hold on a minute, we're not going to cancel out the public option. there's still a possibility we could bring it back. so it'll be interesting for you, here's your assignm

. >> i'm going to send it back to you at the nyse. >>> next,with the vote in the senate set for todaynior analysts kelly blue book joins us ou on why auto sales could be set to literally plummet after the clunkers for cash is gone. market is down 36 points. and crude is down $1.23. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. >>> all right. here we go. let's look at the markets and the internals. dow down about 27 points. what is that? quarter of 1%? nasdaq getting hit much harder. telecom stocks, as i mentioned earlier, selling off a bit. s&p is in the middle. down about half of 1%. advance decline, we have the same situation today we had yesterday. we've got substantially more, 600 mo

live reports from none other than the nyse, the bomb pits and oil pit, big day, melissa. >> thanks, trishff today. account airlines overcome the recession? have you noticed there aren't any empty seats on the planes? should you invest in the stock? in our "call of the wild," " should the government rescind andrew hall's $ 00 million pay package? stay tuned. this is "the call" on cnbc. >>> buckle up, stocks pressure from the get-go. look at the dow, down almost 200 point opts session, 190 points, better than 2%, 9130. the s & p the downside, dow down 23 points, about 2.75 percentage points, nasdaq trading lower as well. it is really getting slammed, down about 2 1/2%. look at oil. sinking as well today, slider low, down 2 bucks. we are starting to head toward the lower end of that range, down about 65, 3%. trish, what's going on down there? >> big day. 190 on the dow. basically, a lot of people are questioning whether or not the stock market recovery has gotten ahead of the economic

in fact, erin, we picked up just along with the nyse, broader markets as well, nasdaq is now a good for better than 1%. we've been focused on that apple story today. it's been on of the leadership stocks among big cap technology issues today. it's up 1%. the estimates were increased over at thomas wizell. they liked the company's long-term outlook. starbucks, there's been a pick-up in activity. shares up better than 2%. company raising prices. raising prices in this environment, as much as 30 cents on some drinks, cutting fries on some of those easier to make beverages, erin. i've been focused and mentioning it throughout the morning now. those solar stocks are an interesting story and getting hammered today. first solar, 3 1/2 sell-off. evergreen solar is down 3%. energy conversion is also under pressure. jeffries downgraded a number of stocks. we talked for months about the pricing issues that solar companies are facing now. prices for solar plummeting. supply/demand issues no, real sign that any kind of demand is going to pick up for solar companies. that is definitely having an impa

plus, i'll be talking live p with an nyse trader about just exactly what this summer rally here up 101 is all about. it's all coming up at the top of the hour. but first, mark and erin with r are back. mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay? yeah. onstar. standard for one year on 14 chevy models. has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. >>> we're back, as we've been telling you, some in the senate are threatening to put the brakes on the cash for clunkers program after the house rushed to pass an additional $2 billion in funding. here to give us a dealer's perspective, auto dealer and p

about 35% of the nyse stocks was accounted for by four or five stocks.hen people come back from later day, and we think will will follow for months to come. >> even when times were good, leading up to 2007, they never really returned. it was an institutionally driven rally. after a couple big shocks, it seems like they won't return. do see any evidence that the household sector has been participating? >> well, i can there's two household sectors. one is participation in the economy. all are about 75%, 80% of spending. but the households that are over 100,000 dollars in net income, 17% of households. i don't think they'll be as significant -- >> how about in the market? >> in the market, well, very over exaggerated i think the presence of the retail investors. most of the retail investors are going for the plan. there's a lot of cash on the sidelines, yes, but they've been participate i participating. >> lou, let me bring you in here. what do you think? >> well, i certainly agree with that. i think you've got to trade the market and not your opinion. i wo

that have received and not repaid financial assistance under the tarp and improved changes to the nysees to improve -- to approve brokers on as they have received specific voting instructions from their customers. finally, the commission has asked the staff to undertake this yeaa@@@@@@@v@ @ @ @ @ @ @ # the committee who are here. i appreciate the argentine to talk about corporate governance. good corporate governance is an essential foundation to economic growth. this cannot be more -- this could not be a more important time for the congress to be focusing on it. there are large number of reforms, 6 and senator schirmers bill alone, and many others that we could talk about. i'm happy to talk about a few that you have questions about or want to explore. but before we talk about specifics, let me make two general remarks. that i think should be kept in mind in thinking about any particular reform. first, and it maybe a little controversy all, i think is fair to say that the academic perspective in corporate covenants would view of financial firms different than other types of corporation

. >>> when we come back, market wisdom from the floor of the nyse, art cashin on expectations for jobs what that means for today's trading. first, let's check on the dollar. been a pretty interesting morning as we've gotten some data so far this morning. jobless claims and so forth. take a quick break. "squawk box" continues in a moment. since re/max first opened its doors back in 1973, we've helped millions of families buy or sell a home. through good times and bad, including five previous recessions, re/max agents have provided the kind of experience america relies on to get the job done. today, in the worst housing market most of us have ever seen, that experience is more important than ever. find out what re/max can do for you. nobody sells more real estate than re/max. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at all kinds of stocks