a second source familiar with this situation, where the nyse is courting facebook management. i'm told management are in discussions search this, and what's being discussed is not a dual listing, but all-stout transfer from the nasdaq to the new york stock exchange, stemming fromle fallout from the trading glitz on friday. as well as the way the nasdaq has handled its interactions with investors, and the public following that glist and the ensues interactions thereafter. so that's the new colors. >> you know, you call around immediately, and scott caller is the head of listings, and they're both in china trying to stir up additional listings. i kind of doubt that the top leadership would be directly calling facebook right now and making overtures. it's quite possible lower-level people had been saying, hey -- >> come on, bob, you know they want the business. >> of course they want the business. i'm saying, can we be assured that duncan niedermayer is making phone calls? >> why? dib grasso could pick up the phone and say we want the business. obviously you had a bungled deal. >

bob pi san fret nyse. let's talk hewlett packard and moving higher. after the bell, the stock trading down in the session because of dell's news after the bell. a nice spike in the after hours session. we are looking at hewlett packard and the layoffs are 27,000. a surprise that there was a bounce. were there people playing more bounce? >> the stock at five-year lows and got decimated. you can't even put your finger on what it should be. in some ways, this was set up to pop. we got a preview. they are looking to save 300 to 400 billion a year. this company is going to get much smaller before it gets bigger. they will give up business opportunities and market shares. this will be a dicy story for the next couple of years. meg whitman got her hands full. it's very oversold. >> this is a turn around story that will take years to turn around. they don't begin until 2014. it's nice to see. the stock has retaken technical levels that i think are important. in the after hours, if you hold the levels, you are back boost 20 and the striking of the 50. this sto

i'm sue herera with simon hobbs down at the nyse. and tyler mathisen is at a special mutual fund conference in washington. we'll hear from ty coming up. but first, breaking news on greece. the third greek leader this week to try to form a government says he's closing in on a deal. but this greek drama is far from finished. michelle caruso-cabrera just finished speaking exclusively with greece's new most popular leader. but he would not be included in this particular government. michelle. >> no. it is confusing. the man i spoke with this morning is alexis tsipras. we care about what he has to say because now according to dow jones, there are new polls today showing he is the front-runner if there are new elections in june. tsipras caused turmoil in the financial markets this week when he said in his opinion the greek bailout program is null and void. that led market participants to believe that greece could potentially leave the eurozone and return to its own currency. when i spoke with mr. tsipras

sources say the option remains open after earlier overtures from nyse, but nyse maintains that no discussions are ongoing regarding that switch. but even if it's not a real option right now, perhaps the point of getting nasdaq to come to the table and take responsibility for the trading issues in the deal as well as responsibility for solving them has worked based on the news we're getting today. but even though one finger is pointed at nasdaq, the other is still pointed firmly in the direction of morgan stanley, which led the deal. morgan stanley sending out a note of brokers of ms smith brnny would look to rectify execution price with price adjustments expected on a large portion of them. the largest trades will be fixed first according to this memo obtained by cnbc, and the rest will be fixed as quickly as possible. tyler, an eventful first week for facebook as a public company, no doubt. >> you can say that again, kayla. now to silicon valley where some very smart people are getting tarnished by this whole ipo process. jane wells with more on what some of the best and brightest are saying

he joins us here at the nyse to tell us more about that.d to do a lot of banking 101 explainers to the ordinary people out there that you run into about what's happened at jpmorgan. and the risks that other banks are taking. tell us about that. >> look, it's a very mainstream issue similar to what happened in '08. needs explaining literally down to the basics of banks take in deposits, make loans and have a securities portfolio with the excess cash that they invest to earn money for shareholders. but also use to hedge the risk that are in other parts of the organization like their loan book. >> you have a buy on jpmorgan chase. weigh in on the trading loss. and the bigger issues that they may have on their balance sheet, which our shareholders just talked about. underperforming loans, things like that. why do you still have a buy on the stock? >> we have to take this into context of the overall story, right? i think the jpmorgan buy thesis, despite this horrible trading loss, is -- here's a company that even in tough times is earning $18 bi

let's get down to the floor of the nyse. bob, i hope it's not athens once again stolen our mojo. >> you know, the euro has moved -- just take a look at the euro. i know you're all tired of hearing how we've been influenced. we don't have the charts, but trust me the euros moved to the low for the day. there we go. see how that works? it's been a lousy month, but it's been a good week. the s&p is up almost 2% on the week. 1.6% at least. and there is some arguments we made on the bullish side. mandy, some people think greece is going to stay in the euro, that they're going to successfully keep greece in the euro, that they're going to be able to recapitalize some of these european banks. i think it's a pretty tall call. there are some contrarian plays out there. and facebook has become a boring stock. good heavens, $32 for several days now. the volume, look at this. straight line. the volume has dropped off dramatically from the first two days of trading. just an observation. >> facebook is so last week, isn't it, bob? thanks

. >> volume has been light overall at the nymex as well as you're seeing at the nyse.ese summer days we'll expect to see lighter and lighter volume. traders are watching spain and the euro. blame it on spain once again here. the euro fell below the 1.25 level right around the european close. right at that time is when we saw oil and precious metals turn around and go into negative territory as well. as you mentioned, gold prices here, they fell actually to a low of 1,550 an ounce in the session. the real key level to watch for gold is around the 1,530 level the side we saw in silver even more dramatic. their traders are saying look for 27.50 as the real support for the silver market. other metals that have bucked the trend, palladium is one of them. actually the best performer in the metals markets in this session. that has a lot to do, george giro at rbc capital markets, the precious metals analyst there pointing out that auto sales we got from toyota, from honda, were pretty good. that is part of the reason we're seeing not only platinum rallying but also copper and

but nyse will get some too. they'll be friendly. about 30% share according to the analyst at sandler o'neal which is about $1.9 million. the rest will go to bats and other exchanges. they'll split up about $1.7 million. the big payday, tomorrow on the listing day. rich peterson says the record volume for an ipo right now is gm. and they listed again in 2010 did 457 million the first day, 157 million the next day. we're expecting facebook could surpass that record here. >> thanks so much, bertha. coming up next, we'll help you answer the big question you're probably asking yourself right now. should i buy the stock? answers in just two minutes. >>> welcome back to our special coverage of the facebook ipo. no investment is perfect. look at all the hype surrounding zynga, pandora, linkedin and groupon. of those four big social networkers, only linkedin is trading above its ipo price. bob pisani is at the nyse this afternoon with some of the risks and warning signs behind facebook's ipo. hey, bob. >> carl, i want to believe. i do. i jus

nyse. right on time as usual. lockheed martin. and riverbed technology. >> lockheed martin, there's a company with a dividend. >> facebook price syndicate. >> where is the syndicate? morgan, step up. maybe they are playing coy. >> they are waiting to draw people in. i don't know. maybe they won't let it close below 38. >> are they in there right now? >> i'm going to go make a phone call. >> who are you calling? >> i can't tell you that. maybe i'll try to get some answers. >> this is an avalanche. this is an avalanche. it feels like k-2. it's always hard to climb that slope. >> speaking of avalanche, shares of ndaq. that stuck suffered a drop on friday in light of glitches and this morning opening down 1.3%. suffering after issuing that mea culpa over the weekend for its role in the facebook ipo. >> one thing we haven't talked a lot is the role of a human being market maker and if that is somehow today more relevant than it was on thursday. >> great call. i know people that work in the surro

and we start with bob pisani with me at the nyse. not a pretty picture, although i did find some bright spots. >> just as i came off a day off. seven to one advancing to decli declining. volume not on a heavy side. you know where we were one year ago, sue? may 30, 2011, 1331 on the s&p 500. you know where we opened today? 1332. the s&p is unchanged from exactly a year ago. you can see we're down a little bit. but let's not quibble. we haven't gone anywhere. look at the energy sector. when you get natural gas down 3%, oil down 3%, you've got an ugly day. doesn't matter if you're an exploration production company or equipment company like tide water or a driller like transocean, the whole complex is down 4%, 5% even 6%. home builder numbers a little disappointing. saying the giveback from the warm weather earlier in the year. home builders to the downside. sue. >> thanks, bob, very much. fear is ruling the yield on the 10-year. which put it at a new record low today. as a matter of fact, we fell below the 1.65% mark. right now we're at

i think they ought to keep listening to the nyse.hanges as hewlett-packard did and we found advantage in doing so. >> finally, you mentioned hewlett-packard. a turn around that meg calls a 15% turn around. talking about how the company's culture is stifling, i never know how comfortable you are being a monday morning quarterback. what do you make of the turn around there? how much likelihood of success do you give it? >> well, first let me say that meg whitman is obviously taking bold and disease sif action. specifically and that business is responsible for much of the profit and the cash flow and now the question is, can the new growth areas like autonomy take off in time and potentially the pc business and there time is going to tell. that's the strategy for hewlett-packard. >> carly fiorina in washington, thank you. >>> let's go to gary. >> carl, let's sum up the whole week. i didn't jump. i just came off the stairs. you asked carly -- she was there, in fact, a week ago with us at that time. you had a broker at morgan stanley that

reuters and the associated press " anonymous sources saying that facebook is in talks with the nyse buto far no one is officially commenting. >> california's financial problems are starting to hurt gov. jerry brown's popularity. the public policy institute shows 43 percent of likely voters disapprove of the governor's top job performance. 42 percent approved. is that in public opinion registered days after last week's announcement that california's budget deficit had grown to nearly $16 billion. >> a comment a supervisor made about a week the board has people riled up. >> trying to figure out what harvey milk would have wanted, so we decided to do something unique in the office and we got out the week keyboard. >> analyst made those comments tuesday when the board was discussing how harvey milk would feel about having a vessel named after him, a naval vessel. he told us that it was called just a joke. >> just poking fun at the the board of supervisors. and people trying to say what part you would have wanted. i thought it would be fun to have a seance. >> he says the closest he has come

don't you think the nyse will come out and say you know whatcom to us it's not going to happen here? >> there's going to be -- you know, this is all about brand, each exchange will try to work it, you know, the brand story, the story that went in today in its favor. >> rich, the nyse sales pitch is playing out right in front us. they don't have to say anything. >> but i think -- i think overall the stock is trading now. i don't think it's quite the long term effect as unfortunately what you have with bats where it's just, it affected other stocks and you couldn't really get it open at all. >> one last question, rich and that's the impact on the shares of the individual broker platforms, the e trades of the world, the aameritrades of the world do you expect a pickup. is it going to a boost or are there glitches because some sites are being overwhelmed right now. >> that's a great question. first of all, there was tremendous rekill demand. we've done a couple of channel checks, spot checks. they were seeing enormous orders, even well before 11:00. it will definitely spike their volumes

you usually see it the opposite, from the nyse to nasdaq.hat's gone the other way was td ameritrade. but it relatively easy. it happens all the time. apparently it just a technological thing. the other thing that i would be cautious about, though, is given all the technical issues with the actual debut, would you potentially be opening yourself up to more technical issues by then, you know, taking this mammoth offering over to another exchange. >> the bankers and analysts and what the analysts knew and whether they had inside information, what's the latest? >> as far as what's happened there, it legal. you share that information in a very detailed manner with those underwriting banks, with all 33 of them because they have to build these full-year mod es based on full-year forecast and guidance. that's why you have the 40-day window where an underwriting bank can't really research because they do have access to that information. >> but your big investors get information that the little guy did not. >> it legal for that information to be commu

that's a live picture of the board here at nyse. dow up 120 points.at is the big sell off in shares of facebook. stock trading down better than 10% here. $34.25 a share. i don't know, it would be a miracle if the stock traded up to the ipo price to the close here. we are looking at the deal, breaking issue prices today and closing that way. the market, powered today with money moving into equities across the board elsewhere. bill, over to you. >> as a matter of fact, maria, last week was the first week of the year to the mark, today so far the best day of the year for the nasdaq composite index. so a bounce, that's how the market works here. but as you mentioned, it is happening without facebook and seema mody is joining us. seema? >> at 3428, a black eye for many involved in the social networking sites public offering while the nasdaq is saying it is not responsible for the sharp decline in shares of facebook. trading error certainly causing confusion on wall street. that pushed some reluctant investors to the sidelines. traders i spoke to say most o

let's check it out nyse. there we go. 128 new lows. 7 new highs.asdaq, 5 to 137. >> you know what, just in a few little accounting stats for you, i think we're on track for the 12th loss in the dow out of 13 sessions. it's been quite a bad run. i think the last week has probably been the worst week we had. and other global markets as well so far this year. in the meantime, just because we know you haven't had enough, let's look at the shares of facebook. of course they ipoed later this morning than expected. facebook's 900 million active users, more than 80% of them live outside of the united states. america has the most users. and we tease this, which country has the second most users? it is brazil. they come in second. they have about 47 million users. so what ripple effects does this social ipo have around the globe? let's bring in tim seymour, mr. global himself. host of cnbc's "trading the globe." i think we're all kind of done with facebook, but i am going to ask because it is an interesting question in terms of looking through the global pri

on wall street this morning, we see the heroes as they open the nyse, including captain america and ironman. the dow is at its 2012 highest point this morning. >>> the google oracle trial, lawyers delivered closing arguments monday afternoon. the issue whether google used their software in the operating system and how much it should pay if it did. >>> and facebook made a change to the "about you" section, allowing people to indicate whether they're organ donors. really probably better to have the sticker on your license. i don't see anybody run to go facebook if god forbid you're in an accident, but it is cool. go to the time line. there's a thing called life events. under that, health and wellness, you can indicate whether you're an organ donor. i am. facebook says increasing awareness of donorship, it hopes more people will sign up for the program. back to you. >> thanks, scott. >>> quick note for bay area fish lovers, recreational and commercial offshore salmon season opens today. predictions are looking good. california salmon council expecting about 3 million pounds will be caught. mor

i'll get to sue and bob pisani at the nyse in a minute. but first check out this fact. stocks down a little bit today. there's sue. let's move over here. let's talk to you about where they've come if you've been in the market for the past six months or so let alone the past couple of years. over the past six months, if you're in the market, you're making money. real dollars are at stake here . if you put $100,000 six months ago, you'd have $113,120. if you made the same investment two years ago, you're up more than $18,000. you'd have $118,000 right now. just some food and money for thought. all day we're running through traditional investments so you can see how well you've been doing or not. let's go right now to mary thompson with some breaking news. >> hey there, tyler. the meeting that was held here at the new york federal reserve right over my right shoulder just concluding. it was a rare meeting. the ceos of a number of the nation's top banks called here by federal reserve governor. he wanted to talk to them about the stress test. they had some other things like

bear in mind, we're talking here at the rival nyse. bob has the very latest.o joined here by matt cheslock, who is a trader with virtue. there is palpable nature. >> we put in preorders to buy and sell facebook. we're not getting any con for mags back. we don't know where we stand. if i had an order to sell 100,000 at the open, i don't know if i've sold it or not. you need to get a fill. you need to get a confirmation. they're not getting that right now. i know bertha was just saying they're going to be sending out manual orders. that still leaves you with some risk here in terms of time risk. that's part of the problem today. another issue i've been constantly pinged on is what happened at zynga. zynga had what was called a single stock circuit breaker fault. normally that would happen and be halted for five minutes. but this was halted for 50 minutes. >> an hour. >> 50 minutes, essentially. and i believe it reopened again just a short while ago. but the bottom line is that's a long time. and there's a lot of questions. we don't quite have answers there. ther

meantime, let's go back to the nyse and sue. >> a brave guy, isn't he, ty? one of the reasons for today's selloff, declining confidence in the state of the economy after that very weak jobs number. that's your cue, steve liesman, take us away. >> thanks, sue. i'm calling this the purgatory number. little help on one hand but not bad enough to bring in the federal reserve on the other hand. it's a "disappointment if not a crushing one. at april's rate of job gains, it would take well over three years to return to december '07's employment level." there was some good and bad in this number. let's look at good. revisions were to the upside at 53,000. temporary help up 21,000. average weekly hours unchanged at a relatively high level relative to where it was before the recession. manufacturing hours up with overtime up as well. and the unemployment rate did decline to 8.1%. although part of that was a decline in participation rate. part was a decline in the number of unemployed. now look at the bad. government back to its old tricks of reducing the work force do

used to be the nyse has been able to grab quite a number of companies, most notably, linkedin, back to you. >> reporter: thank you very much, scott, so facebook now a publicly traded company, again, one you can buy stock in on the nasdaq exchange. coming up tonight at 6:00, we go one on one with one of the very first facebook investors about the risk involved in the early facebook days, all the hard work that was done, and what it was like to work closely with ceo mark zuckerberg. for now, reporting live from facebook headquarters, back to you. >> scott, before we let you go, facebook made its first acquisition today as a public company? >> reporter: yeah, you know, it did, it bought an app called karma, and facebook quickly entering the question, what are you going to do with all those billions of dollars, well, one of the things it's going to do is acquire companies and bring more people onboard. >> scott, thanks so much, see you back here at 6:00. >>> and we have complete coverage of the week in facebook on our website, go to nbcbayarea.com. >>> we're also continuing our kovr covera

the dow down here at the nyse is down 1.5%.on't forget of course those fed minutes coming out at the top of the hour. we'll keep you abreast of that exactly. matt cheslock is with us. matt, what are you looking for as far as the fed minutes are concerned? >> i'm going to look for probably nothing. >> at least you're honest, matt. >> the world's coming to end in june with the greek elections and the fed actually what they're going to do the 20th. i don't know what qe we're on right now? are we on four, five, six? i'm not looking for this to be big news right now. market showing it by getting flat right now. >> so really play past these fed minute ss what you'll be doing today. >> absolutely. there's enough out there. >> you bet there is. simon, back to you. >> with fears of europe imploding and the u.s. market struggling to get afoot, what are your best plays? global head of emerging market equity at morgan stanley. $25 billion in assets under management. and indeed the author of "breakout nations" in pursuit of the next economi

griffith at the nyse. >> hello. thank you very much.oming up from here at the new york stock exchange, groupon is set to report earnings after the bell. that stock has been beaten down since the ipo. it's rallying today though. is it the deal of the day ahead of that report? we'll look at that. plus gold despite today's upturn is still negative for this year. and commodities king, jim rogers, thinks that has created a golden opportunity for buying the precious metal. we'll get his investment strategy coming up in a little while. and happy birthday to mark zuckerberg who turns 28 today. is his age a strength or a liability when it comes to facebook's future? we'll look at that as welcoming up. maria and i look forward to seeing you at the top of the hour on "closing bell." >> we look forward to seeing you, bill. thank you very much. now, if you were long this market, you might need a stiff drink after a day like today. here's a little check of some of the boozemakers. as you can see all trading lower on the day in particular constellatio

. >> thanks, sharon, very much zplnchts down here on the floor of the nyse we've lost a little strength up about 50 pounts. now up about 36. bob pisani joins me here on the floor. financials finally kicking in. >> a little bit. just on gold. i don't know if you saw a world gold council released its quarterly report on gold demand. big drop in india for gold. that's a major reason gold has been down. 50% of the gold in the world goes to india and china. they've been trying to wean people away from gold. >> their economy hasn't been doing as well either. >> the economy. and the week rupee has hurt. we have this strange problem here. there is what i call crisis tennis going on. you've got all these problems here with excessive debt reasserting itself. then you've got hopes that the european central banks or central banks anywhere are going to prime the pump. we were up in the last two days in hopes that this big eu summit tomorrow was going to have a whole bunch of ideas on how to prime the pump. a lot of cynics are saying some of this isn't going to work. some of it isn't going to happen.

bob pisani's on the floor of the nyse. about a macro short squeeze today. >> it's wrong and it doesn't usually happen that way, but the street was positioned short because the regional isms had generally been below expectations. we're still getting growth, but below expectations, except maybe richmond. so everyone said, hey, how much stronger can the national ism be? the answer is a lot stronger. everybody was wrong and you could see the market go up. the dow jones industrial average reached new highs. we're at a four-year intraday high. obviously, that's good news here. regional isms, national, but how do you account for that? it's a completely different index and the ism points out, don't go confusing us with the regional numbers. also, i would note, california does not have a regional ism. maybe the economy's picking up a little bit there and that's showing up, although that's a big defense area. but this is a go-go report here. new orders, employment and deliveries. even bob was impressed with the numbers as well. take

over here on the big board, celebrating raising over a billion of gross equity in the nyse.nd the nasdaq, in charge of cancer stem cells. >> a lot of retail to look at today. >> yes. whether it's ralph lauren, urban out fitters. >> i think that ralph lauren did a fabulous job. william sonoma, these are both high end. initially, the stock drop 10 points and now it's working its way back. obviously, fantastic sales numbers. contrast that with best buy. contrast that with jc penny. express, obviously very bad numbers. lowes was really bad. >> has your confidence in the home improvement thesis been broken? >> no. >> after home depot and lowes? >> no, i think they were on the actu actual earnings call, i thought they were quite positive. >> so that 10% decline or so was justified, in your view, on the stock? >> lowes is having real problems. they had a turn. the turn was going great. they took a lot of share in a lot of different categories. i think that home depot is expensive. when they get it right, 12% accounts for sales pretty good. the new end today, 31.73. i talked to an a

technical glitches reuters and associated press quotes sources that facebook is in talks with the nyse, no one officially commenting >>> california's financial problems are hurting gov. brown popularity. the latest poll shows 43 percent of likely voters disapprove of his job performance, 42 percent approved. the first time a plurality express disapproval for gov. brown weekend bus service between san francisco part of a proposed budget cut. the board board will hold a meeting in oakland expect an 8% increase in next year's budget that is due to a jump and writer ship. that will involve east base stations in pittsburgh in fremont. some parents friending to pull their kids out of fairfield high school because the district is cutting sports and other after- school activities. they need $450,000 to keep the programs going. some kids depend on sports to get into college. >>> what about when have on my resume i am trying get into college i volunteered for the library down the street and that isn't going to get into college. >>> final vote to cut programs and three high schools in fairfield e

does it feel different on the floor of the nyse today? >> sure.ene has shifted from basically purely financial venues, in to semipolitical. up until now, the governments, and the central banks, have been able to take small steps to delay, or ameliorate what's going on. they haven't been able to cure anything. they've kicked the can. but they could do that by qe, ltros, things of that type. this is now in the hands of the greek populous. and it may turn out that if people believe they're voting not just to protest austerity, but to exit the euro, it could start a process no government can stop. >> what's your basic scenario as to what happens? that greece leaves the euro? >> i don't think there's a way to save them unless germany and others decide that it is just too important to keep them in, and just keep paying the bills. but that doesn't seem plausible with spain next up. >> so let me ask you this, the declines that we've had over the past seven trading sessions or so, is that pricing in that departure? or will there be an additional reaction o

they are looking to three list its stock on the nyse.iders say the move is prompted by several glitches on the nasdaq trading system. neither the new york stock exchange or nasdaq are commenting on those reports. a federal probe into fires in 2011 chevy expanse. the government is asking general motors for information on fires in the 2012 model. investigators with the national highway safety administration are focusing on wiring and computer which controls the transmission. the government wants general motors to submit any allegations of overheated wiring or smoke coming from the engine compartment. two fires in 2011 models had been reported. if you are heading to the beach this weekend, according to the motorists association, maryland is one of the top five states for traffic tickets. the organization came out with a list of the most ticket happy states. nobody came out on top. if you have a lead but, you do not -- if you have a lead foot, you will want to hit the open roads on miami -- wyoming and montana. or you could just obey the spe

facebook is in talks to move its stock from nasdaq to the nyse-listed area >>justine: the san jose residents making it minimum- wage could be getting every sin. there is an ordinance to raise the minimum wage from $8 an hour to $10 an hour and a mandatory inflation adjustment. a university sociology class champion of this measure for the november ballot. >>james: we will take a break with more headlines in a moment. here is a look at the james lick freeway. a clear the coolest all >>justine: violent crimes may be down in the city of san francisco but new video is telling a different story about what is going on on the streets. and j.r stone has more on a growing trend of street fights that are recorded. we do have a quick warning, the videos are pretty graphic. >>j.r.: the video speaks for itself. two men fighting in san francisco, not a big deal to you but this is not just one, it is at least five fires that have been uploaded to youtube. some of the men and women may be homeless however advocates in police investigators say they have not seen a rise in street crimes against the homeless or

and now reports that regulators sources telling the nyse over jpmorgan's accounting practices and public disclosures bad day for jpmorgan but not so for the overall market. does this mean that that bad trade is just a hiccup? bob? >> time for the "closing bell" exchange. outspoken activist sharon jackson. first, ron insana and our own rick santelli. what is your take on this? do we need to bring back the glass eagle? >> i've always felt that way, bob. had the government, in the wake of the scandals, i think prosecuted some financial ceos for violations, filing materially false financial statements and had they reimposed glass steagall, having said that, i like the way jamie dimon got and undue risks and deposits. >> rick santelli, your assessment of the situation. and as ron was saying they didn't intend to take undue risk. >> no one ever does. >> and i agree with everything that ron said. i agree you shouldn't be a principal and an agent. there's no question, everybody that i've talked to after the crisis understands and everybody can understand and i do think when you don't address thi

with us is ben, private wealth management and bertha coombs at the nyse as well and rick santelli at the cme group. hi, everybody. let's talk about this market here and what you want to do. does anything about the way that we're trading, low volume, low volatility, cash on the sidelines worry you about or dictate to you how this market behaves the second half of the year? >> not really. we are becoming more cautious from mid- to late march and we're starting to roll over. the index slipping. correlation falling sharply and stocks no longer trading with each other. macro didn't matter and certainly the problems with europe are still there. >> ben, what do you think? >> the euro zone crisis is going to ebb and flow but it's not going to go away. the big concern is are we going to have a big concern like we had in the summer of 2010. i think the economy is a much better footing. we're complaining about job growth of 115,000. i think we're going to be okay. >> the catalyst basically was with cisco and it was negative. >> it was interesting, maria win trader said to me that he was shocked

coming from the floor of the nyse, we are coming to you from the chiquita brands. the ticker symbol. it's 30% lower on chiquita. it's dropped to a three-year low. this t downgraded as well as jaffrays. the fruit and vegetable distributor blaming lower banana prices as well as higher fuel prices. the analyst is telling clients that economic difficulties, coupled with currency pressures suggest profitability will be cut this year. the loss of a major customer in the company's salad business also hurting profits there. jaffray is cutting the price target to 750 and that is down from 12. the stock is 560. chiquita shares have been lagging well behind those at dole foods as well as del monte. >> yeah, or something like that. yesterday maria spoke extensively with house speaker john boehner about taxes. today we're asking for your take on this situation. would a potential tax increase on dividends hurt the stock market? here are some of your selected tweets. jim said, if taxes go up, companies will reduce dividend payments, stock prices falter, and dividend is a strong l

in the last two years, 38 companies have switched to the nyse. nyse has netted 38 companies.may get more transfers by number, nasdaq has netted bigger switches. jumped to the nasdaq since 2005 versus $183 billion of business moving away. and texas instruments and western digital, two of the biggies this year. what's less common is switching it up a week. nasdaq eventually won. with a flurry of lawsuits and final claims over nasdaq's handling of its ipo, that's a big question about where facebook will stay. knight capital has submitted claims for what it estimates it will be. 35 million in losses for the second quarter alone. facebook might decide it wants a fresh start. the beauty for facebook is there's no deadline to decide. >> i was going to say presumably they're under contract though. it's not something they can just walk away from. it would have been a full negotiation. >> you would think. of course we haven't seen a contract and what is exactly entailed in that. but we did speak to the former vice chairman of nasdaq. he says what's on the books, it's still easy to swit

but other sources tell cnbc facebook is open to making a chang and facebook has somin gauged with nysefacebook was up more than a buck today. that's more than 3%. the broad are market was down much of the day on concerns over europe. "the kudlow report" will be right back. it's gonna be a casual thing. ♪ ♪ ♪ [ male announcer ] the tight-turning, space-saving, eco-friendly smart. escape your stuff. ♪ but not how we get there. because in this business, there are no straight lines. only the twists and turns of an unpredictable industry. so the eighty-thousand employees at delta... must anticipate the unexpected. and never let the rules overrule common sense. this is how we tame the unwieldiness of air travel, until it's not just lines you see... it's the world. >>> welcome back to "the kudlow report." i'm michelle caruso-cabrera in for larry kudlow as he takes some days off. lars larson is our special guest tonight. good to you have. >> nice to be here. >> in this half hour, did piers morgan lie under oath? one of britain's most respected journalists says piers morgan did lie under oath a

the nyse, however, says in a statement there have been no discussions with facebook regarding switching their listing in light of the events of last week. nor do we think a discussion along those lines would be appropriate at this time. that's an eventful week of first trading, trace. >> trace: eventful indeed. rich, thank you. able to shake off worries in europe on promising jobs numbers here at home. fewer people filed for unemployment benefits last week. the labor department reports the number fell by 2000 to 370,000. that helped counter act concerns about europe's debt mess. the dow was up 34. the s&p 500 gained 2. but the nasdaq was down by 11 points. well, it is pay back time for pakistan's decision to lock up a doctor who helped the u.s. track down usama bin laden. today, a senate committee voted to cut u.s. aid to pakistan by $33 million. that's a million bucks for every year of the doctor's 33 year sentence. he ran a vaccination program for the cia. and collected d.n.a. samples. to confirm bin laden really was at this compound. pakistani officials convicted the doctor of treaso

yield into the ten-year, what does it say about customer sentiment, barry nap and bob pisani at the nyse, he is tower trading president and from the cme group, gentlemen, good to see you. thank you so much for joining us. >> thank you, maria. >> barry, in light of the recent turmoil coming out in the market, europe is once and center for investors today. how do you want to invest around that? >> we've been suggesting going all the way back to early march we thought we'd have an april showers scenario unfold where you had a number of moving problems. europe is a primary one. but also the growth trajectory to the u.s. has deteriorated. the whole narrative that growth is accelerating was put to bed between the labor data and then the chain store sales, which was the final piece, this idea that consumer discretionary was strong and consumer was robust. the fed is on hold and we think the best thing to do would be to hold earning growth which is not all that robust. i'm not as bearish as the last guest but we think it's decelerated. there's a lot of issues here in the near term. >> a lot of m

the nyse stats up there in front internals of the market. decliners are outpacing the decliners. you've got new highs, guys. 93 of them hitting you. new highs, new lows at 21. as for the nasdaq, 67. new lows, be 37. all of these new highs going up without making too much of a fanfare. we've been asking you this throughout the show. what is your buy signal and what are you buying? and here's what you said. trader greg said the smaller u.s. regional banks, it's the last depressed sector that is not normalized since the meltdown. greg says, water, xylem, aqua american. and greg says when i have extra to put in my risk. we've heard what you see as buying signals. what do the pros think? alison deans is senior adviser and bob pisani and herb greenberg is here as well. alison, let me get to you first of all. what is it going to take for the individual investors, the moms and pops and retail guys? what are they waiting for? >> i think they need to see a continuation of a good market environment, not very much volatility. volatility speaks to risk a

excitement and you knew that it really cut deep when facebook chose the nasdaq to list on instead of the nyserybody was pretty upset here on the floor of the new york stock exchange and a lot of people had expected facebook to choose the north america stock exchange because when a company chooses that, it basically gives bragging rights to that exchange. that being said, you know, you talk about sentiment, how everybody is feeling about facebook and one thing you can do is look at what these other tech ipos are trading at the moment and they're trading down quite a bit. you mentioned the other big tech ipos like pann dar aand linked in and google and group on. they're lowered quite a bit anywhere from 4 to 10% today. if you want to talk about sentiment and dollar figures, you're not seeing it in the numbers today. definitely the excitement is there to buy into facebook and on the road one investor told cnn money that it is nothing short of pandemonium, this hype to buy into facebook. >> and it is worth noting that the comparisons that we make to other tech companies, we talked about groupon a

she's at the nyse. sue. >> thanks, michelle. joining me to do that is mark chandler, chief global currency strategist with brown brothers and mike moran with senior chartered bank. mike, i'm going to start with you. you think the risk of greece leaving the euro has risen extensively. does that mean you think they will? and what does that mean for the euro? >> really, the last election in may i think dramatically changed the odds for a lot of people. this anti-austerity message has really been quite deep. and i think now it becomes a political question. it's not so much the economics. the greek economy's contracted 20% in the last four or five years. so no one's buying into this austerity kind of program anymore. so i think the greeks are going to -- i think the risk of them leaving, you know, in the next six months before the end of the year are substantially higher than they were in may when there was still some buy-in. >> you're still short the euro or shorting the euro? >> we're still bearish on the euro looking at 1.20 or 1.

first of all, bob pisani on the floor of the nyse. any reaction from traders at the minute? >> magic word, qe-3. several members mention qe-3 support if it falters. i don't know if you can put up an intraday of gold. gold was 1534, maybe. i saw a pop there to about 1543 or so. there's gold. that's what i'm talking about. right there. see. there is your little qe-3 trade. of course that's a play overall on inflation. other than that fairly modest moves here. bank stocks move just a little on that news, mandy. >> quickly get your reaction. earlier on today there was the conflicting rumors or reports, whatever you want to call them, about whether or not the ecb was going to halt funding to certain great banks and then later a report that the ecb continues to support them. we saw some gyrations in terms of risk appetite in the market. has that all settled down? >> yes. there's not a lot of news there. bottom line it's a few greek banks, very much need to recapitalize. the greek banking system is going through that process. they're still undercapitalized, but i don't think there'

. >> who knew greece's largest coca-cola bottler traded on the nyse.14% the last time i checked. basically no news. here is the news. it's a big name. in greece. right? watch the names, not just the banks, to see maybe what people are betting o there's the street talk logo. trust me, folks. >> there we go! up 14%. >> 13.4%. you can always go to c nrk bc.com and get these quotes. i want to bring it up there as a sign that maybe there's a little more -- you hate to just bash greece every day. people still get up, go to work. >> in a recent poll didn't the greeks say they were the hardest working? when they were asked which is the hardest working of the eurozone people, they said, the greeks. >> do we have that? i tweeted it. unbelievable. pew research has a study. i tweeted it out earlier. they asked every member of the eu what country is the hardest worker. every country, britain, italy, they all answered the germans. the fwregreeks literally answer the greeks. they also listed themselves as the most corrupt. >> i love that. we're the most corrupt but w

if it goes to the nyse, it's bad for nasdaq. the loser is facebook.o knows if it's going to make money. nobody clicks on the ads. >> sam, what about the people who bought facebook. >> i'm an owner of facebook stock. a very small, small, small amount. i disagree with everything he says. i encourage everyone to buy facebook stock. it's been a horrific experience, truth be told. i hate it. i can't believe i did it. i'm almost humiliated. i'm going to share it on national tv. >> part of the healing process. you were certainly part of a moment. if that's what the goal was, you were part of a moment. >> i'll look at it that way. >> look at it that way. thanks again to ben, s.e., nick and sam. i'll see you back here tomorrow at noon eastern, 9:00 p.m. when i'm joined by steve kornacki, alicia, and ben smith. @now with alex. andrea mitchell reports is next. but instead she gives him capri sun super-v. with one combined serving of fruits and vegetables. new capri sun super-v. with one combined serving of fruits and vegetables. i wish i could keep it this way.

joining me here at the nyse, neil wineberg, editor and chief of american banker. pisani. gentlemen, welcome. first of all, we're going to start with whether or not the banks will ever learn. neil, what do you think? >> i don't think they'll ever learn because they don't see it in their interest to learn. obviously the banks think this is profitable depending on point of view, proprietary trading, speculating or hedging. certainly the fact they moved this over to london and the fact it's been continuing would indicate jpmorgan doesn't want to learn anything from this. >> should banks be allowed to hedge, neil? obviously they felt this guy was making money for them. they felt the need he had large positions they felt the need to hedge, which is a prudent thing for a bank to do. you can argue they shouldn't hedge, or banks shouldn't be allowed to be doing this kind of activity, i don't see how you can argue they shouldn't hedge. they just made a bad bet here. >> that seems to be the big question. was it hedge? was it speculation? the argument i would make, bob, is wh

that being that, face wook is evaluating whether or not to jump ship after getting pitches from the nyse's according to my sources. it wouldn't be a unique event. many companies do move back and forth in both directions. to the ncse to the nasdaq and back. what they don't usually do is do it a week after they go public. certainly the bruised cause for the company is a lasting one and they want to put their best face forward. the damage is done but now the damage is that cold hard cash that was lost. it has to be counted. citizen del lost roughly $30 million on behalf of clients' trades. big banks like ubs, goldman sachs also likely lost money on the trade because they are responsible for matching retail trades. and then there's morgan stanley which they led the deal and they're right now sifting through every trade process to adjust clients' prices. that won't be a short process even before the regulators get involved. this is a long time coming before investors really find out what happened on friday. >> all right. thank you. let me bring our column. mark is the "huffington post" chief

in the meantime, down to the floor of the nyse. bob, i know we're losing a little bit of steam in terms of our rally today. yesterday you were explaining the rally, maybe it's a bounce off. oversold conditions. how would you explain the rally continuing today? >> we're getting -- this happens every day. one trader called it crisis tennis. the growth components versus austerity components. we've had this rally in the last day and a half on the hopes there would be a big breakthrough at the eu summit that's going to happen starting tomorrow. that the growth components were fwoing to come up with very creative plans. the euro is up again this morning. then in the middle of the day there were all sorts of comments saying don't expect too much out of this. we're fwoing to have a hard time coming up with a consensus. a lot of divisions. see the euro moving down. we've come off of our high since then. also problems still with the global growth issue. we've got the oil component down. the energy dpoepts are down. look at this. copper town

. >> and then let me ask you about, i heard about facebook on the nyse. what have you heard?hts? >> facebook i think it s an overvalued stock. the stock trades in the $30, $35 range. i don't know if it goes on the new york stock exchange. i don't like new york stock exchange because business is soft. facebook's okay, don't like it. new york stock exchange, stay away. yes, sir. >> my name's nick from california. just want to get your thoughts on kodiak oil and gas. >> oh, geez. let me just say i think oil's going to $85 in this country. $100 in brent in london. that makes kodiak a spec. that said, it is a very inexpensive stock. >> buy buy buy. >> if oil bounces it will bounce, too. yes, sir. >> anthony valley from camp lejeune. i had a quick question about tvigs, an etn that trades based off the s&p 500 index. i'm seeing a lot of volatility in the last eight, nine days. and it seems like a good buy. i just want your sentiment and your thoughts. >> i don't like to trade that stuff. i don't like to trade it because it's emotional and i have no edge. and when it's emotional and

let's get straight down to the floor of the nyse. bob, i know we've been doing a lot on facebook and i know a lot of traders are coming up to you saying bob, why are you so skeptical about facebook. skeptical you may be, but at the same time am i right in thinking we still want this to succeed for a very specific reason. >> i want it to succeed because i want every mom and pop that's going to buy it tomorrow to make money on it. i don't want them to be angry and bitter three months from now that it's 25% below that. that's why i want it to succeed. but i'm a little skeptical. i'm worried about the fact that we're going down 50 points every day in the dow every day this month. look at this. look at these companies that are in correction territory. even down more than 20%. the banks are down more than 20%. caterpillar's having a terrible couple of months. apple is down 15%. chevron -- by the way, apple just dropped below $500 billion in market cap. kind of worrisome there. >> absolutely. we'll talk more about apple in just a second. in