the nyse and nyse mkt will provide updates with respect to these reviews, at this time, we believe nysetems and circuit breakers operated normally. during this period and we're working with all market participants on the issue. now this follows the statement from knight where they specifically came out and said that there was a technology issue that occurred in the company's market-making unit related to the routing of shares at around, in approximately 150 stocks at the new york stock exchange. that's what we've got now. scott i would note that there was, by my count, seven, eight, nine stocks from the dow industrials that have had very unusual activity. a number of them including alcoa, american express, bank of america, caterpillar, dupont, ge, pfizer, at&t, verizon. ge's four times normal volume. american express, almost as much volume so we're dealing with some very large numbers. >> bob at this point we're not seeing any outsized gains or losses in the stocks you mentioned. we're taking a look at the board of those stocks as you mentioned them. i see news crossing. let's throw up

new york stock exchange said that they believe nyse systems and circuit breakers operated normally. in other words, the problem was with knight interabocting with e new york stock exchange and the s.e.c. said they're monitoring and in continuous contact with the nyse and other market participants. 30 million shares today. down 3 22%. pier 1 normally trades a million shares a day. right now, 5 million shares a day. the volume in a lot of stocks is three, four, five and sometimes ten times normal. >> and summer, volume is lighter normally. >> exactly. >> exacerbated the move. >> pier 1 from $17 to $18. that's a huge move for a small stock. this matters. one thing to point out, major indices didn't have any major problems. individual stocks were halted. i heard yelling and screaming at 9:30. people saying, what? what? what's going on? not trying to make excuses but the system seemed to avert a major dip down in the market. >> there was talk this morning new york stock exchange is starting a liquidity platform and might have been an issue with that but so far we can tell it was not that

this is a problem with the interaction of somebody outside the nyse with the nyse systems and my, frome floor all indications i had is that the nyse systems worked fine. everything functioned as it should. but there's a problem with somebody interacting from the outside. >> if it is a problem with knight capital and clearly we've seen the move on the stock there, it would be deeply ironic given that the ceo of knight capital was particularly in his aggressive in his criticism of nasdaq over facebook. he was very, very -- he took no prisoners on that particular interview. >> he put his boot to the throat of bob rightfield. >> we still don't know what the source is here, what the problem is, but i am almost sure that this is a software problem, it's a problem interacting with somebody from another, from swb outside the nyse. and it indicates that this is a very imperfect system. i've seen things go down in all avenues. >> if you look for example on the way in which the swiss are attempting when they announce their loss and attempt to get it back from nasdaq over facebook, the huge sums i

nyse says the program worked fine.mean knight may not have had problems interacting with it. big weird problems occurring and a new program. you know, you want to ask questions about that. i still don't have an answer to that. the second thing i'd like to know is why did it take so long to shut this program off, this errant program? 9:31, people were talking to each other down here say kwhag's going on? 9:35, people were screaming at each other. the program kept running. 945, i'm saying, does anyone have the kill switch? i called nyse. they said, i didn't mean, we've notified knight. finally. why did it take knight so long to finally find the problem and hit the kill switch? unfortunately, this will give ammunition to those people who say, ha, you see these programs, they get out of control and people don't get in front of them fast enough. nyse, shining day yesterday, 9:31 all over it screaming and yelling but they weren't in charge of shutting off the program. you might wonder why didn't nyse kit hit the kill switch.

about $50 four years ago on the nyse. today $70.r volume, the amount of dollars trading is roughly the same. not trying to make any excuses for the crummy volume but that's important. >> it goes right to the argument of seeing every month. we see money coming out of the equity space and being taken out of the equity market and i think people are not sure. certainly big asset managers are not trading as much as they are because there's way too much risk on the table. it's very, very cloudy. >> will be -- >> until there's more clarity -- >> there will be another bull market, won't there? >> i wouldn't call this a bear market. four-year highs. good heavens. >> really? nowhere in four years? >> no. nowhere in ten years. a decade. >> four-year highs. the point is and i agree with you, look at the major players in the market. high frequency traders. institution traders. prop desks. they reduced the trading activity. >> that's right. >> not just the retail guy. >> but the real asset manager, mutual funds, the real hedge fun, they have pull

stocks and nyse said they believe their systems and circuit breakers operated normally. the s.e.c. said they're monitoring the situation. bottom line is this. it looks like there's a common thread in three separate instances that we have had rece recently. remember the facebook ipo fiasco and now knight saying that they're having technology issues. the things to connect the three points, these three occurrences is interactions of trading systems and problems occurred an enwhat we need to do is we need to improve the interaction of trading systems and, mandy and brian, we need to build in redundancies to make sure that the systems are intelligent and instead of routing orders to the people on the floor, thank heavens they caught the problem, maybe somebody stopping it from occurring in the first place. >> maybe you need to be in charge. you have it figured out. >> are we relearning the value of the human being? >> everybody knows i'm in favor of human beings watch things. we are not going bab to human beings needing trading. we need trading through computers. but we need

live at the nyse. cramer is enjoying a long weekend. futures pretty weak on the back of export data out of china for july. up only 1% for expectations of 8%. exports from china to europe down 16% year on year raising concerns about the chinese economy. europe, they're down as well. >> the road map starts off with jc pney. as a conference call gets underway. comps and margins came in below, but is ron johnson convincing the analyst community that perhaps there is hope? >> the most valuable sports franchise goes public. manchester united, price is at 14. we're going to talk to the ceo. >> yahoo! says it may change its mind about returning proceeds to shareholders. what will they use the money for instead? >> and faber with interesting details on facebook, that is all we're going to say. >> that's enough. tune in. sorry. we start with jc penney six months after ron johnson launched a turn around. reporting a bigger than expected loss. the second straight quarter of declines since the plan was introduced. david, i'm curious as to what you t

the latest and also bring you my exclusive interview with the ceo of nyse euronex. welcome to "the willis report." ♪ gerri: hello, everybody, i am gerri willis. tropical storm isaac cressman national convention in tampa, florida, caused the g.o.p. to scrap the day's event for a quick welcome. >> so it is my privilege to proclaim the 2012 republican national convention in session and called to order. gerri: there you have it, so what to expect when the convention wraps up tomorrow? let's ask florida's attorney general. great to see you again. i know you have a lot of music going on in the background, so i hope we can hear you. >> yeah, i am in the forum in there during sound checks and it is mighty loud behind me. gerri: i can hear you better. that is good news. what is most likely to happen? florida, h you must be happy in florida because you missed the awful storm, isaac, but it could hit new orleans. that could be bad news. if the impact is devastating will there be any more delays the republican national convention? >> that is all still up for discussion, gerri,

let's get straight down to nyse and the floor with bob. i was looking at the stats here and looks like the dow and s&p on pace for their worst week in nearly three months. >> yeah. we have a little problem right now. i don't know if it's a long-term problem. i don't think so. we have a failure of leadership. so remember when's moved the market forward this month of august. it's been all of those risk-on trades. material stocks. energy stocks. take a look. industrial stocks. all have been really in terrific shape today. look at the biggest downside movers. materials, energies and industrials so we have lost that end of the leadership. that's been the major leadership for the month. on top of that, remember a few weeks before that when dividend payers were doing really well? they missed it on a straight downhill move ever since then and look at, say, telecom and utility stocks. market leaders. one month, basically strait down with the group and utilities down 1% today. that's an unusual downside move. they don't usually have that much beta a

we ran numbers, scott, once we knew what stocks were involved, 140, that the nyse was looking at yesterdayook a look at the prices at the open. looked at the volumes, and we couldn't come up with a number that was you know, much beyond $200, $250. to see a $440 million loss was a big surprise this morning. >> brian kelly, do you have a question? >> hey, rich, i'm looking at the bonds today were actually trading 70 cents on the dollar. we know they're going to have to be recapitalized some way with the stock down 50% today, which would you buy here? is the stock a buy on the idea it's going to get broken up and there's assets there, or do you go buy the bonds, trying to replay the capitalization? >> i'm not probably comfortable recommending the bonds at this point. we don't know what the the scenario is. we'll have to wait and see what the cash burn is and whether the customers stay with knight. they're going to need the likely need a little influx of capital. at this point, you know, it's, this is a situation that's in flux. we're not telling people they should be buying at this moment. ei

bob pisani spoke with the ceo today and at the nyse. bob? >> thank you. tom joyce kept the business today. new investors own almost 75% of the company. he launched an internal investigation to determine exactly what happened and why it took so long to shut that errant program down. i asked him if he might implement new rules to limit the damage of this sort. >> i support additional rules if we have the data around which to craft the rules and we will have the data once the investigation is complete. >> now, there are some-wide circuit breakers to hold trading in large price swings. one idea is to look at circuit breakers to slow down or halt trading in unusually large spikes in volume, not just in price and what we saw with the knight trading issue so if knight does 100,000 -- 1,000 trades a second and then suddenly 25,000 trades a second, tyler, the system would pause or halt. one other issue discussed is exactly where mr. joyce's future lies. he is safe at the time being and the chairman. and there is some discussion that with new investors in, maybe a

i'm here on the floor of the nyse. let's start out with bob pisano. >> 5 to 1 advancing to declining stocks. not only erased the losses of the week, we're at a three-month high. the russell 2000, the small cap, lagging and transports lagging but up today. take a look at the last three months and this is very important. you might think it's moving up. there's the three-month high on the s&p. put up the big gainers. defensive names have had the big advances in power of the market. telecoms, utilities and the health care stocks. that's about as defensive as you can get. how about the ones down the most in the last three months? remember, we are at three-month highs on the s&p 500. there's the materials and the financials and techs. don't kid yourself. the big market gains still a bit in the defensive sector. what i want to see now, let's see the material names advancing more. but with the global economic situation, that's going to be the tough part. guys, back to you. >> all right. thank you, bob. >>> by percentages, the

lauren simonetti on the floor of the nyse.nies having different reactions from their earnings today. we'll be fair and balanced today as well. let's talk about the winner. splung. their customers are bank of america and zynga. revenue up 71%. they boosted their full career revenue guidance as well. this stock is surging 14% today. it ipo'd back in april at 32. it is up since then. which we can't say for all stocks that have recently ipo'd. the loser would be zumiez. this is the retail they sell billibong and nike and those kind of companies. in the earnings report said august same-store sales rose but not nearly as much as expected. that is considered bad news, remember yesterday we got all the comps from the retailers really strong data. zumiez is not showing that. they also notice some of their customers, back to school shopping started a little bit late for them. they might see a stronger september. here is to hoping. the stock is down 10%. back to you. ashley: thank you, laura. we'll be back in 15 minutes. tracy: that stoc

. >> susie: a rough start to the trading day here at the nyse, market maker, knight capital group, was hit by a trading glitch, that impacted trading in 150 different stocks. >> reporter: the securities and exchange commission and the big board are investigating what caused the glitch, knight capital blamed a "technology issue." it even went so far as to tell its clients to, "route listed orders away." traders here at the big board say it led to chaos at the open. >> one or two stocks i guess you can write it off to just an anomaly, but at some point it just seemed like there was way too many similarities between the patterns in how these stocks were trading across the floor, that there was just something that wasn't right that was happening. >> reporter: the problems at knight capital led to trading halts in five big board stocks. molycorp, corelogic, kronos worldwide, china cord blood, and trinity industries were halted in early trading, after big spikes in volume. they eventually resumed trading and went on to normal closes. knight capital stock plunged almost 33% or $3.39 to $6.94

just over 500 million shares changed hands at the nyse, while at the nasdaq it was about 1.3 billion, the lowest this week. nevertheless, there were some sector standouts, including telecom services, consumer staples and healthcare all of which tacked on nice gains. healthy moves in a handful of pharmaceutical stocks helped to lift the healthcare sector. gained 6% after the f.d.a. cleared the company's generic pain relief patch. eli lilly added more than 3% on word trials of it alzheimer drug shows it slowed cognitive decline in patients with mild symptoms. and alexion pharmaceuticals rose just under 3%. verizon communications helped lift the telecom sector and it was the dow's top performer. shares dialed up a gain of 92 cents or 2%. that's after word yesterday the feral mmunications commission granted the telecom giant four spectrum deals. the action allows verizon to expand its 4-g and high speed data networks. and shares of aruba networks surged after quarterly revenue for the wi-fi equipment maker beat estimates. aruba actually reported a fourth quarter loss because of a tax issu

the nyse canceled trades in six volatile issues. tell clients to send orders elsewhere at one point yesterday. you can see again with that chart that most of the damage was done yet. it's rebounds a little today. it lost 30% or so yesterday. we focus on europe in morning as we said given the ecb meetings everyone is talking about. joining us from london is tom russo. he oversees 5 billion in assets under management. do you think initially we see anything substantive or do we need to listen closely to the call afterwards, tom? >> well, i was surprised when draghi came out several days ago and said that the ec would do everything they could to support the euro. the market was completely aligned on a bearish euro trade, and over time, i think, the markets will recognize that there's some strength left in the euro. so i don't know what they'll say in the meeting. you can see how the market will react just three days ago when the euro strengthened sharply against the expectations it would continue downward. i'm focused on the companies,

david: one thing that doesn't tell you is the volume, 3 billion shares traded on the nyse index.e doing fairly well in terms of volume but there is some conviction going into the downside, that seems to bolster the bears in the audience. let's go to nicole petallides at the new york stock exchange. after hitting the all-time highs yesterday, apple is kind of an example of what is happening in the market. a lot of people taking the profit off the table. nicole: at the same time we saw apple hitting a new high, traders are still betting apple continues to go higher ahead of the iphone 5 and ipad. liz: today they are outperforming again reacting to comments, does that lead us to believe that not much changes until august 31 when we have that event that they will continue to do well? nicole: that is true, they have really shown resistan

let's get to mary thompson on the floor right now at the nyse. >> it really feels like this market wantsgo higher. i want to focus on the energy sector that has been a mixed performer today. recently pulling back now, it's turned up again mirroring the general market action we're seeing today. mixed picre in the oil services stocks and some of the other oil based stocks. take a look at what coal stocks are doing. alpha natural had revenue weaker, and weak demand for the rest of the year. so added pressure on a group that has been under a lot of pressure already this year. the dow clawing it's way back up 14 points. >> thank you so much. we want to look at real estate right now. is smart money betting on real estate? we have data showing that smart or not, they're making the debt. >> the wealthy are pouring money into the real estate these days. about a quarter of them are in real estate right now, that's a huge jump from 17% last year. all of the foreign buyers, aversion to stocks, low interest rates, and potential for a bigger boom in luxury real estate. the price here will no doubt be

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the movie has no tie to the nyse. i asked the new york stock exchange how do you choose.said sometimes things of world or natural interest gets to ring the bell. he was interesting enough. >> shared some ice cream on the daily show and he said just us girls. we can talk about it. the closing bell in about 38 minutes. you have some more celebrities. america's olympic gymnasts are closing. >> they captured their first team gold medal at the olympic games in london. i went out to ask about who rings the bell. the people are the windows to the world of the exchange. sometimes there's a tangible tie for the exchange. other times it has to involve events that impact the world. i'd say olympians like these will impact the world and more olympian will be ringing the bell later this week. >> i was talking to jordyn weiber last week and was so excited. >>> chr >>> chris christie in his own word, next. [ male announcer ] the perfect photo... [ man ] nice! [ male announcer ] isn't always the one you plan to take. whoa, check it out. hey baby goat... no that's not yours... [ hikers wh

and specifically, tommy said it was not the nyc's faculty -- >> no, i'm not suggesting it was the nyse's, it was a new system rolled out by the exchange, and traders were trying to interact with that and i'm sure most were successful, but people could not test their systems against this particular platform previously, we should have expected there was a heightened possibility for something like this to happen. i'm just trying to illustrate. >> do you think a 64% selloff in knight stock is warranted? >> i think it's exaggerated. if you look what knight went down, it was in excess of the trading loss. >> we have to ask him. >> i bought shares in the after market yesterday, and i'm not that thrilled about it. >> you were mentioning vanguard, and fidelity, are among the biggest owners and they have taken a big hit. >> absolutely, thanks, everybody, we appreciate it. >> speaking of the man verses machine debate, facebook shares keep hitting new lows, technology got that stock off to a bumpy start that week and it has gotten bumpier. >> that's right, the selloff continues to the social media s

. >>> welcome back, bob pi san any is watching all of the selling from the floor of the nyse. >> theiate reason we're down at the prehope, mr. bullard came on our air and said it's not a fore gone conclusion that qe 3 is coming, that the data they released it stale. we topped out several days ago. put up the major sectors today, and you sigh since august 2nd, the lip has been in energy, materialing, financials, technology. that group has gone nowhere. those four or five sectors have gone nowhere and there's been nothing to replace it. remember prior to the august second meeting, it was all in those dividend paying stocks. but utilities and pharmaceutical stocks, that are big dividend payers have gone straight down. that's a very unusual drop for them. so there's no leadership here. none from the dividend group or big international names. and transports, maria, never moved up towards highs. there's a three month chart of the transports. so we need to get some leadership going right now, i expect this is just a temporary pause until the next few days. tomorrow will be a big spanish mee

i'm maria bartiromo on the floor of the nyse. the doucet to close their fifth straight winning weak. coming up three top strategist weighing in on why the market is about to get more interesting. and why the founders of a new super pac says why beer could be a point sized answer to the looming fiscal cliff. we have about $1 billion on buy imbalances near the close. finishing up about 41 points on the industrial average. it had been plat on the session. check out volume, anemic and deadly. 494 shares traded. volume did pick up. it's where the industrial average settling out tonight. the nasdaq picked up a few points, very brief moves into positive territory at the close giveen the buy interest. markets in a waiting game? that's what michael ryan says with the payroll report and the bulk of earnings behind us and euro zone officials on hall day, they will go through this faze before making any big move. we have stephanie link joining us, michael, great to see you. when do you think this move happens and in which direction? >> i thi

let's get to mary thompson at the nyse. keeping the rally going but only by the skin of the teeth, right? >> we just turned negative on the dow. >> okay. no skin on the teeth. >> and actually, the s&p is now just holding right above that 1400 level. unl, it's interesting morning. concerns about europe weighed on the markets early on. the euro started to recover. hold on to some -- held on to decent gains and not a lot of conviction behind it as evidenced by the pullback we have seen so far today. again, the s&p of course closing above the 1400 mark as you see right there just barely holding on right now. quick check of some of the stocks we have been talking about, particularly the retailers because some of them -- sorry, the dow movers first. mcdonald's disappointing same store sales numbers and putting pressure on that stock and hewlett-packard with strength raising the third quarter outlook. those are some of the stories that play within the dow. also within the s&p, we were seeing strength and consumer stap staples in l

i'm carl quintanilla with kelly evans live at the nyse. melissa, jim and david have the week off.ome worries about global growth around the world overshadowing a jump in personal spending here in this country. futures probably the weakest -- >>> meanwhile, in europe angela merkel visiting china. huge delegation there. we'll talk about that in a moment. german unemployment rising from a fifth consecutive month. >>> we begin in tampa where paul ryan and condi rice give speeches. ed rendell and carly fiorina. >>> 24 hours away from ben bernanke's speech in jackson hole. markets are wactching and waiting. >>> german unemployment rises again as merkel gets an earful on her trip to china. >>> retailers blow it out in august. gap, pier 1, target, macy's, nordstrom, costco exceeding estimates. will the stocks add to already impressive gains? >>> pandora shows you really can make money in mobile. earnings and guidance were above estimates. we'll hear what the ceo is telling cnbc. >>> tonight mitt romney will accept his nomination for president of the united states. john harwood is at the r

so the nyse and the s.e.c. tight constraints in defining what an erroneous trade actually was. there was a fairly small number that fit into that deaf 234igs. it wasn't that controversial. i think tom felt it was bet are for them to be more flexible. they stuck to the terms of their own rules. >> good stuff this morning, bob. bob pisani our capital markets editor gary kaminsky had some thoughts on knight since last week. >> many thoughts. let's try to focus on them. i did think the firm would survive. obviously it did. thom joyce in that interview with bob referenced the work of jefferies and o'neill in saving the firm. i don't know thom joyce but watching him this morning, this is the kind of guy that you want to go to work with. this is the kind of guy you want leading your ship. this is if you're a soldier, and you want to sit at the big boy table as they say on wall street you want to sit at the big boy table with a guy like that. because what he said was so admirable, if you think back of how this has tran

nyse composite volume is on track for latest full day of trading this year.ropical storm isaac makes its way toward gulf coast states. real estate analytics company core logics says the potential exposure to residential property is estimated to be as high as 36 billion dollars. if isaac hits the coast as a category 2 hurricane. and as isaac approaches new orleans, united and southwest airlines announce plans to cancel flights out of that city tuesday and wednesday. cancellations take effect starting at midnight. we continue our countdown to the closing bell with ashley webster. ashley: adam, thank you very much. of course isaac we just found out could make landfall as a hurricane late tomorrow. lauren at the new york stock exchange with a look at how the oil refiners are reacting to all of this. lauren? >> hey, ashley. we're seeing a mixed reaction for the oil refineries right now. what we do know is that 60% of the gulf platforms are evacuated. 54% of the rigs are evacuated. marathon, phillips 66, valero all moving on this. i want to point out valero because

we have simon at the nyse. >> traders passing. good afternoon from the floor of the stock exchange. we'll start with the minutes and bringing ceo economics reporter steve liesman in a moment but this is a chance of the dow traded since the last time the fed release minutes july 11th. up at the best part. the s&p up 5%. the stock moves mean the fed less likely to embark on qe3 and the nasdaq up about 5.5% since we had last minutes of the fed. one thing is for sure, few people get as excited about this as steve liesman, senior economics reporter and will join us later in the program, sue, to discuss exactly where we are as now count down 59 minutes until we get that release. >> indeed, simon. thank you very much. as a matter of fact, right here, flew in from the >>> now the corporate users. the stock is surging today up more than 7%. of course, it is a lousy performer since it came to the market. >> indeed. thank you. existing home sales numbers in this morning and those numbers showed that americans bought more homes in july. sales of previously occupied homes rose 2.3% from the mont

we have mary thompson at the nyse. right here on "street signs" always ladies first. what are you watching? >> a mixed session for a number of reasons. we had decent data on the trade deficit. and then basically wiped out by the wholesale inventories. markets look stronger and then comments out of germany raising questions of ecb buying bonds and pushed them lower with the euro. good thing is the s&p continues to hold above that 1400 mark. but very much a summer session. stocks in a narrow range on low volume. look at the leaders on the sector front. materials, energy and technology. co staples a winner yesterday with dean's foods down today with a pullback in the stock after the 30%-plus gain yesterday and also keeping with the consumer theme or i want to turn to cisco, a reason of seeing strength in the nasdaq an i guess a smaller loss in the dow because it's a dow component. benefiting from upgrade. on the other side within the dow, weakness in americanexpress. held a call yesterday and basically said that it saw a slowdown in some of the consumer spending and putt

we'll start, though, here on the floor of the nyse with the markets. they're near four and a half year highs. up five straight weeks. a change in the wind, though, bob pisani. the s&p broke the 1400 mark. bounced back. >> a trouble going over it. there's low volume and i think people are still waiting to see what's going on in europe and you can see on days like today, we get the big global growth names weaker. we don't get a lot of energy in the material names, for example. the energy names. some of the other big sectors like industrials there. health care's a lot of confusion today about paul ryan's plan for medicare versus president obama's affordable care act and which one is better for the markets overall. just a couple of quick observations. look at the vix. normally the vix is up but with're sitting near five-year lows on the vix. what it tells you is the options guys don't think that the drop is a major problem for the market. this is unusual to see the vix down with the markets down on the same day. >> we were down about 90 points a few minute

fox business's gerri willis speaking to ceo of nyse euronext in exclusive interview covering everythinged trading to the tax environment. >> are you saying that big business is happy to see taxes go higher if some of their, special gimmes in the tax code go away? >> the sense i get when i talk to business lead earns just tell us what the tax rate is going to be. >> clarity. >> you and i are sitting here and almost september of 2012 and you don't know, i don't know, none of your viewers know and no company knows what their tax rate is going to be next year. >> makes it impossible to plan. >> when people sit there, i say to them why aren't you investing, why you have all the money on the balance sheet, why don't you put it to work? because we don't know what the tax rate holds and that is makes many people uncertain. david: catch the full interview on "the willis report" 6:00 p.m. eastern on the fox business. tracy: speaking of markets, a jury awarding apple one billion dollars in damages in the samsung case really moved markets. the verdict found samsung to infringe on apple's software a

but we start with sue at the nyse. where'd the fear go, sue? >> not evident today and we start out with the markets. up a little bit this afternoon after being down this morning. but, this is a big but, of course, we want to reinforce how far we have come on the dow. more than doubled since march of 2009. we certainly hope that's the case. also take a look at the etf. the vxx. it tracks volatility to some extent and down 2.63% today. in week, almost down 11%. as of today, doesn't seem to be a lot of fear out there. traders i had a chance to talk to a few minutes ago saying because we're seeing a bumpy and somewhat consistent improvement in some of the economic data and earnings. back to you. >> thanks very much, sue. now the housing market. the key many say to rebuilding the economy. and while there have been some signs of improvement from the housing bottom, the new c eo of fannie mae say there is's a very long road ahead. >> i think it's too early to declare that national housing recovery and what's driving our results is home price improveme

. >>> we may be lower here at the nyse but positive at the nasdaq with bertha coombs following the movershere. >> fractionally moving. cisco why. positive comments. stock today at a three-month high. rim extending gains after winning a reversal of a patent loss. and e-trade today surging after ceo departure. ken griffith of citadel is on the search committee. folks see that as a potential move towards a sale and more consolidation there. we also see allscripts surging after earnings less bad than expected. they, too, just come off of a big board battle. fresh all-time high from two years ago on its earnings and outlook. sue, elizabeth arden with an all-time high. looking pretty with the strength of the fragrance with a boost of bieber fever. >> i know a little bit of about that, as a matter of fact. my two little girls just got it. i guess i contributed to the bottom line in one way, shape or form. thanks, bertha. >>> more reports after the bell and nordstrom now traded down half a percent at 55.22, up about 12% year to date. courtney's back with a look ahead at their numbers and people w

and she's back at the nyse. >> good to be back home and starting with big trouble for facebook. the stock hitting a new all-time low, down almost 6% on the trading day right now after the lock-up period ends for several of the key insiders firms and insider individuals. since the may 18th ipo the stock down 47%. julia boorstin joins us live from los angeles and following the story for us. hi, julia. >> reporter: sue, today investors can sell 271 million shares and putting the stock under serious pressure. volume spiked today over 100 million facebook shares have already exchanged hands. that's up 160% from the 10-day average. now, we don't know yet which insiders are selling because s.e.c. filings for today's sales aren't due until the end of the day on monday but the list of potential sellers includes early investor peter thiel and elevation partners and greylock partners and tiger global. microsoft could sell but with the partnership with facebook it's unlikely to. dst is on the list with goldman sachs. goldman bought in at a $50 billion valuation, more than the current market

golfing legend ernie els ringing the bell at the nyse.ing off his fantastic victory at the british open last month. running behind adam scott until the last minute. his fourth major title. first since 2002. >> ernie els raised a ton of money for autism. his son has it, i believe. >> the els for autism foundation. they just launched a big capital campaign to create a new center for education and therapy. does a lot of good work in that air wra. by the way, he's here officially kicking off the deutsche bank championship. tenth annual golf tournament which kicks off on the 31st of august. and over at the nasdaq. that brings us to a tuesday. hopefully a little more volume than yesterday which once again -- >> wouldn't take much. >> the lightest volume day of the year. people are hoping a lot of that was because the uk was closed. london reopening today may give us a little more boost. >> it's the last week of august. i'm not sure how much of a boost we'll get. things certainly will pick up into september. the question becomes whether that's r

but first to sue at the nyse. >> thank you very much, ty. we'll follow knight trading throughout the show here on "power lunch" but let's get you up to date on the markets right now. the dow jones industrial average down 149 points. however, we are off the worst levels of the trading session. s&p 500 is off 16 points. the nasdaq is down just about three quarters of a percent. gold down 18 bucks and our senior economics reporter steve liesman is following the comments of mr. draghi today. could one not argue he's laid out a bigger master plan taking the organizations in to slightly different territory than they were willing to go in to before? >> i think so, sue. i think that down the road this could be a positive for the moment. it's a big disappointment from the ecb. he spoke boldly last week of doing whatever it takes to save the euro. he delivered weakly today. instead of massive, it's maybes. ecb may undertake sizable purchases of short-term bonds. the mechanism developed in next several weeks. purchases tied to rescue fund conditionalit

let's get down to the nyse. bob, the ipo of manchester united. not the fact particularly it's a lackluster debut but the trading going on with man u and the high frequency trading community and how they're making money off this. >> yeah. there's really kind of two things going on here. there's sort of rebate trading. manchester united, 16.6 million sharyls at $14. there's a syndicate bid that's going on here. that is, the people who underwrote it at $14, they're holding it at $14. that stock not dropped below and they won't let it, probably at least today. we don't know how much firepower they have. this is great newins as a professional trader. buy at 14.01 and sell at 14.02. there's rebate trading going on with professional traders do get a rebate for directing order flow to the exchange. you sort of can't lose on this kind of deal. i think the big issue right now is what's going to be going on with the syndicate bid, mandy. how long can you support this at $14? they're concerned it might drop below there and bids at $14. it looks to me like th

let's get down to bob pisani at the nyse. trying to break the case of mondays, bob. >> yeah. once we got past the ecb meeting and everybody convinces them that mr. draghi is more dovish, we have been off to the races. we are 100, 110 points shy on the dow, mandy, from a new high for the year. we're three-month highs right now. the dow jones industrial average continuing to hold up very well. since thursday. friday morning better. same with the s&p 500. we are maybe 20 points away from new highs for the year and as you mentioned trying to now get over 1400 on the s&p 500. knocking at the door of 1390 and change right now. the big thing that's happening, important, the rotation. remember, we've had all those dividend players doing really well. just about to break 140 on the s&p. telecom stocks, pharmaceutical stocks. but in the last few days, laggards have been coming to the fore and consumer discretionary. that's what you want to see and what's happening here is a bit of a short squeeze in the euro. art cashin talked about this earlier in the day. sitting at an essentially new

. >>> tyler's on vacation so my partner is simon hobbs down at the nyse. good afternoon. >> good afternoon to you, sue. history in the making. our top story, augusta national, home of the masters, finally allowing women in to the club for the first time ever. mary thompson has that story. a long time coming it should be said. >> it certainly is. 40 years, one month and 19 days after president nixon signed title ix in to law, augusta national allows the first women members. they long resisted women on the roster. the club's former chairman johnson famously or infamously responded to a 1992 letter asking them to open the doors to female members saying the home of the masters golf course is not forced at the point of a bayonet. 22 years after allowing the first african-american member and where women brought in a home of the medals at the olympics, augusta's ushering in the ladies. first two female members include former secretary of state con con. in a statement rice calling the membership a very special opportunity. also admitted, south carolina financier d