seema mody has all the details out there. seema, good morning. >> reporter: very good morning to you. let's take a look at the markets right now. futures are a touch higher after stocks sold off yesterday on continued concerns about whether congress will reach a budget deal to avoid the fiscal cliff at the end of the year. investor anxiety was also ratcheted up on the news of israeli air strikes in the gaza strip. we get unemployment, consumer prices and earnings from walmart and target today. the dow falling 185 points, the nasdaq losing 37. >>> twing ees have a really long shelf life but you may not find it much longer. hostess plans to ask a bankruptcy judge to liquidate. the union walked off the job last week to protest court-ordered pay cuts. they represent about a third of the company's workforce. hostess, which was founded in 1930, filed for bankruptcy in january, the second time in less than three years. back to you. >> okay, seema, thank you very much for that update. the good news is you'll have to load up on twinki

good morning, seema. >> reporter: hi, good morning to you. futures right now are lower, guys, after stocks fell on monday. the markets appear to be treading water before budget talks begin in washington on friday as the white house and congress try to reach a deal to avoid the so-called fiscal cliff in january. we do get monthly federal budget statement this afternoon. we get that statement this afternoon. earnings today from home depot, sak's and cisco systems. the dow falling a third of the point to close at 12, 813 and the nasdaq losing a fraction to close at 2904. yahoo! is getting set to give its e-mail service a makeover. reports say the overhaul will make yahoo! mail look very much bike g-mail. the aim by new ceo marissa mayer is to help yahoo! better compete with its bigger rival, google. mayer left goog tole to take th top job at yahoo!. if you're a yahoo! user, we'll have to watch out for that. >> thank you, seema. >>> 4:47. christina loren is here. you say it's a little warmer out here. i thought it was pretty crispy. >> maybe you'

seema mody is live at cnbc world headquarters with all the details. seema, good morning. >> reporter: let's start off with the markets. we did see a rally on monday. the dow had its best point gain in two months on optimism that the white house and congress may reach a budget deal to avoid the year-end fiscal cliff. we get data on housing starts and building permits and earnings from hewlett-packard as well as best buy expected to come out today. >>> fed chairman ben bernanke speaks in new york around noon time. the dow jumping 207 points to close at 12,795. the nasdaq rising nearly 63 points in yesterday's trade. all right, here's the story, guys. the twinkie gets a stay of execution. hostess brands has agreed to enter mediation with its lenders and striking bakery workers at the urging of a bankruptcy judge. the maker of wonder bread, twinkies and hostess cupcakes announced it was shutting down after the union walked off the job the week before. hostess is seeking permission to liquidate the company and sell assets. the judge wants to try everything

good morning, seema. >> reporter: good morning, marla. that's right, wall street returns from the thanksgiving break. there's light trading in overseas markets as japan is closed for its thanksgiving holiday. it's a half day of action as the stock and bond markets will close at 1:00 p.m. eastern. on wednesday, though, the dow did close up by 48 points, closing at 12,836 and the nasdaq gained nearly 10 points to close at 2926. now, the holiday shopping season is officially less than 24 hours old, but we are already getting an early lead on how sales are shaping up. ibm smarter commerce says of the retail website that tracks online sales were up 18% on thanksgiving versus last year as of 9:00 p.m. eastern. digital marketing firm shop local says stores have about 28% black friday type deals available than last year. marla and laura, happy shopping. >> same to you, seema. thanks so much. happy holidays. >>> it's 4:46. we've all seep the images of destruction from hurricane sandy and perhaps one of the most memorable is the seaside heights new

back to you. >> seema mody. seema, thank you. >>> a week from right now, it will be an early morning for a lot of you. stores will be at capacity for black friday, which is why walmart hopes many of its employees show up. according to the london daily mail, many walmart employees are threatening their biggest walk-out ever that day including several stores in the washington area. the company and its employees have been at odds over wages, benefits, and ununizatiunioniza. we won't know until that day which stores will be affected. >>> check out the newest way to get your first dose of caffeine. caffeinated cracker jacks. they're called cracker jacked. pepsi company's frito-lay is behind the tweet. they pack the same amount of caffeine as a cup of coffee. some groups say they violate food regulationregulations. it's not clear when the cracker jacked hits store shelves. i like my caffeine in my cup. cheers. >> storm team 4 meteorologist tom kierein is here at 6:51. get us out the door. >>> you need a warm beverage

mark thompson, and seema mehta. let me throw this out for everybody.n let me tell you guys, too. you're part of this conversation. all of a sudden he had a change of heart about immigration! unbelievable. let's listen. >> we got to get rid of the immigration issue all together. it's simple for me to fix it. i think you control the border first. create a pathway for people who are here. you don't say you gotta go home. that is an position that i've evolved on. because you know what, it just it's got to be resolved. >> cenk: well, well, amen of a sudden they believe in evolution evolution. >> no matter who won he was going to say that. >> cenk: right. seema is this a political move you've ever seen? >> i was stunned when i saw that statement. but even if it is a political move the republican party has to deal with the changing demographics. if you look at a state like colorado unless they want to be marginalized, if they want to be opposition party that has not in power they have to deal with this issue. >> cenk: i didn't think they would do it this quic

for that and more we turn it over to seema mody for all of your business news. seema, good morning. >> reporter: everything you need. very good morning to you, guys. let's take a look at the markets first. futures lower after stocks continued their downward trend. the markets are now down 5% since election day. investors are measuring the risk of the economy going over the fiscal cliff and impact of hurricane sandy. reports shows manufacturing and economic activity fell in new york state as outages knocked out factories. in terms of how the markets ended yesterday, the dow fell 28 while the nasdaq lost about 10 points. in other news, the map app battle between apple and google is heating up. google is putting out the final touches on a new app that will work on apple phones. if it's accepted into itunes ill will compete with apple's new soft more. apple removed google maps as a standard app when it released its latest software in september. but that move back fired as consumes complain apple's map app is majorly flawed. back to you. >> thank you very much. we'll

good morning, seema. >> reporter: very good morning to you guys. markets coming off another down week. the dow and nasdaq and s&p 500 all lost more than 1.5% and are down nearly 5% since election day. but stocks did close higher on friday. positive comments from the white house and top lawmakers about the possibility of striking a budget deal to avoid the so-called fiscal cliff helped markets end higher. >>> it is a holiday-shortened week but there's still plenty of data to digest. we get a report on existing home sales today and numbers tuesday and wednesday on housing starts, consumer sentiment and unemployment, plus fed chairman ben bernanke speaks. the dow rising 45 points on friday and the nasdaq up 16 to close at 2853. here's to that big story you were just mentioning. facebook and yahoo! are reportedly in talks about a possible internet search partnership. any deal could push microsoft, which powers yahoo! search technology, out of the picture. reports that i yahoo!'s ceo, marissa mayer and facebook's ceo met recently to discuss closer ties

good morning, seema. >> reporter: very good morning to you, happy monday, guys. futures are higher right now as the markets come off another down week. the dow, nasdaq and s&p 500 all falling 2% last week in the wake of the presidential election and rising concerns about whether congress can reach a deal to avoid, as you guys said, the fiscal cliff in january. that's when a slew of tax hikes and federal spending cuts are set to take effect. there's no economic data out today and the bond market is closed for veterans day, but we do get data reports this week on retail sales, inflation and several stores reporting earnings, giving possible clues about the upcoming holiday shopping season. the dow closed up four points to close at 12,814 and the nasdaq rose 9 points to close at 2904. >>> aeg is teaming up with stubhub on a new ticket service that amsz to rival ticketmaster and live nation. aeg is the owner of more than 100 venues worldwide including the staples center in l.a. starting next year customers shopping for tickets will be able to buy or sell them on stub

we turn to seema mody. she's at cnbc world headquarters this morning. good morning, seema. >> reporter: a very good morning to you. let's take a look at the markets. futures a touch higher after stocks sold off yesterday on continued concerns about whether congress will reach a budget deal to avoid the fiscal cliff at the end of the year. investor anxiety was also ratcheted up on the news of israeli air strikes on the gaza strip. we do get data out on unemployment and consumer prices and earnings from retail giants walmart and target, so those will likely be market movers. in terms of how we ended yesterday. the dow falling to a four-month low to close at 12,470 and the nasdaq losing 37 to close at 2846. back to you. >> all right, thank you. jon, seema mentioned the israeli unrest affecting the markets this morning. benjamin netanyahu about to have a press conference. we've been watching that on satellite as well. we'll continue to update you on all of this. >> okay, scott. we know you'll be on top of it. thank you very much. >>> we told you about this

let's turn to seema mody at cnbc world headquarters. good morning, seema. >> reporter: good morning. pulling out some greek this morning, i like it. futures are higher as the markets come off another down week. it is down nearly 5% since election day but stocks did close higher on friday on positive comments from the white house and top lawmakers about the possibility of striking a budget deal to avoid the so-called fiscal cliff. >>> it's a haolidaholiday-short week but we get a report of existing home sales today and numbers tuesday and wednesday on housing starts, consumer sentiment and unemployment. plus ben bernanke speaks as well. the dow rising 45 points on friday to close at 12,588 and the nasdaq closing up by 16 points. >>> top news today, hostess brands has a liquidation hearing today in new york at 2:00 p.m. eastern. the 82-year maker of wonder bread and iconic snack foods like twinkies announced friday it was closing after failing to get wage and benefit cuts from thousands of striking bakery workers. the move means most of i

. >>> let's head to the nasdaq and seema mody.eema, wr we were asking earlier whether the strong showing in techs today is short covering or something more pronounced? >> i think we're having a strong day here at nasdaq mostly due to that better than expected economic data we got out this morning. thding a nice lift to the nasdaq. we're up more than 1%. old school tech names that bob mentioned as well -- microsoft, intel posting strong games. interestingly enough, if you look at a one-week chart of microsoft versus apple, microsoft shares have been gaining momentum, up nearly 5% versus apple which is down about 2%. lastly, look at our best performing stock, research in motion, up 8% on optimism that its new blackberry 10 device is on track to launch in the first quarter of 2013. >> cool, seema. thank you. >>> new economic numbers point to stabilization in the labor market ahead of tomorrow's jobs report. but will hurricane sandy derail any traction in jobs and economic growth? to discuss that and more we're joined by vince reinhar

seema mody? >> tech stocks following the broader market retreat. of course apple dominating the tech headlines. let's take a step back and assess what's going on here. you got the fundamental and technical story at play. on the fundamental side, there have been some near term concerns on the street regarding supply constraints. apple's ability to effectively be successful in the lower priced tablet market. but it is really the technical analysis that's weighing on the stock. the street of course worried the fact that the stock officially entered bearish territory. the stock broke its 200-day moving average last week. it is now sitting at a five to six-month low. we continue to watch that stock very closely. back to you. >> seema, thank you. >>> not just stocks that are under fire this day. many commodities really taking it on the nose today as well. sharon epperson live at nymex. sharon? >> no commodity more than oil, tyler. looking at wti oil futures are down about 4% below $85 a barrel. approaching the lowest levels that we've seen since july. we

we turn to seema mody. she's live at cnbc world headquarters. good morning, seema. >> reporter: very good morning to you. well, a quick check of the markets. futures are lower after stocks continued their downward trend yesterday. the markets are down 5% since election day. investors basically measuring the risk of the economy going over the fiscal cliff and the impact of hurricane sandy. reports showed manufacturing and economic activity fell in new york state and the philadelphia area this month as outages and flooding knock out factories. we get data out on industrial production today. the dow falling about 28 points in yesterday's trade and the nasdaq losing about 10 points to close at 2836. back to you. >> all right, seema, thank you much. >>> laura and john -- jon, yesterday you were talking about lyft. also this air b & b. there's this whole industry springing up that is this shared economy. the idea private citizens can give rides in their car or renting out their apartments. we'll talk about that on "press here" after "meet the press."

sounds good, seema. >>> it's 5:13. every year around this time hundreds of kids get huge smiles on their faces thanks to one south bay family. they hand out christmas presents to needy families and give out thousands of dollars in scholarships. >> for many they are known as santa's helpers. damian trujillo sat down with the award winners, the family of the year. >> reporter: it's a vibrant but quiet community. there's not much wealth here but there is a lot of pride. that pride and vibrancy were challenged in 1983. the levees gave way in the south end of the san francisco bay. el viso was under water. >> everything is ruined. everything. we lost everything. >> it was really hard. really, really hard. and to see all those poor little kids. >> reporter: judy santiago and her family saw their images from their home in sunnyvale and they mobilized. >> we were asked to come out and be santa. >> reporter: joe santiago put on his santa suit that he used when visiting community centers. judy became mrs. claus. and together the

cnbc's seema mody is live with that. >>> emg is teaming up with stub hub. is the owner of more than 100 venues worldwide, including the staples center in l.a. and the 02 arena in london. coming up, those shopping for tickets will be able to buy or sell them through stub hub. stub hub makes money by charging big commissions on the sales. >>> picture day has lost its cool factor. students are turning away from the classic blue or black back drop of the school photos. sales have dropped 2% over the past decade. picture day is when many schools seize the opportunity to raise much needed cash. parents are opting for more expensive portraits, paying upwards of $1,200 versus the school's $60 package. >> that's too much for a picture. what am i supposed to do now? seema mody, thank you. >>> the price of gas is expected to drop through the thanksgiving holiday. the lundberg survey found the average price for regular unleaded already dropped nearly 21 cents in two weeks. could drop another 10 cents to 20 cents. aaa reporting the average price of regular unleaded in t

cnbc's seema mody is live with today's "4 your money" report.rning. >>> it's time to shop until you drop. thanksgiving is becoming the new black friday. target will turn the lights on at 9:00 p.m. on thanksgiving. last week rival walmart said it would open at 8:00 p.m., two hours earlier than last year. and sears will open at 8:00 and stay open straight through until 10:00 p.m. on friday. kmart is getting the earliest jump on the holidays, opening 4:00 a.m. 4 6:00 a.m. to 4:00 p.m., and then taking a dinner break and reopening at 8:hourp p.m. >>> the sister of a target employee in illinois has launched an online protest at chains.org urging the retailer not to open on thanksgiving night. she says her brother and other workers should be able to enjoy the holiday with their friends and family before the mad rush for door busters. target says it valts tevaluates early opening time with customers, managers, and workers. >> seema mody, thank you. i find something troubling to skip your thanksgiving dinner to go shopping. >> it's the way the market wo

back to you. >> seema mody at cnbc. thank you. >>> a heads up for facebook users. in you're in a relationship on the site, you created a new profile page. facebook is facing criticism over the new couples profile pages. it features photos and conversations between the two people. some people aren't happy over the latest change, calling it a true invasion of privacy. you can't even opt out of the new pages. >>> d.c. men have a type, apparently. they prefer smart blonds. the online dating and auction website, what's your price.com? surveyed 5,000 guys in d.c. on preferences for hair color, education, and social habits. according to those men, the perfect woman is blond with green eyes. they prefer -- the men do, a social drinker who does not smoke, and a woman who has a masters degree. the website measures desirability based on the amount of money a man is willing to spend on a first date with a perfect woman. based on the website, a d.c. man is about to spend $250 on a first date with that perfect woman who meets all that criteria. >> i just find that i can't say an

back to you. >> all right, seema. thank you so much.gh day for the stock market, for sure, with this market worsening as we speak. the fed minutes today out outlining a less than rosy picture for the economy in terms of doing underperformer. that's added to the acceleration of the selling. >> however, danny hughes from devine capital is still optimistic about the market. she joins us as well as our own bob posafni. it's still early in the negotiation process, obviously, but it is pretty clear that the two sides, even though they were talking compromise last week r still beginning from very far apart. >> yeah, well, i can't imagine with would expect the day after an election we would, you know, immediately be off the cliff. overall, the market performance since, you know, the beginning of october hasn't been that surprising given the september surge. if you roll back the clock, the s&p was up for the year. now it's not. we've given back are 45% of our gains in 45 days. that's not a good sign at all. i think people are very concerned abou

seema mody takes a look ahead to the trading day.ood morning, seema. >> reporter: good morning to you. futures right now are higher as the markets come off another down week. the dow, nasdaq and s&p 500 all falling more than 2% last week in the wake of the presidential election and rising concerns about whether congress can reach a deal to avoid the fiscal cliff in january. now, that's when a slew of tax hikes and federal spending cuts are set to take effect. there's no economic data out today and the bond market is closed for veterans day, but we do get reports on data this week on retail sales and inflation and several stores report earnings. last week the dow closed up 4 on friday to close at 12,815. the nasdaq rose 9 to close at 2904. back to you. >>> it is indeed a quiet day but we'll continue to watch to see if anything happens. >> it is indeed. thank you. >>> it is 5:15 right now. meteorologist christina loren back here to talk about it. last monday we were talking about record high temperatures. a little different this week.

seema mody with that angle. >> absolutely.noon eastern, the nasdaq has been trading in this tight range. although, we are seeing notable gains across the broader tech sector. computer sciences shares hitting a 52-week high. stronger than expected earnings. you can see shares rallying. on the flip side, the biggest drag on the nasdaq is fossil. best known for its watches. its revenue falling a bit short of street con ssensus on weak jewelry shares, especially in europe. shares reacting to that. back to you. >> all right, seema. thank you very much. technology may be up, but am shares continue to fall. that stock, which was a huge bell weather for this market is now just 2% away from a 20% decline from its most recent highs. in wall street vernacular, a 20% decline is bear market territory. what does this mean for this stock and for the market overall? let's talk numbers on that. on the technical side, carter werth. on the fundamental side, alex. carter, it's all yours. what about this breathtaking decline? >> it's been quite ag

. >>> to the nasdaq now and seema mody following the big movers there. >> good afternoon.ogy definitely a bright spot in today's trading. take a look at the nasdaq. up .6 of a percent. got to point your attention to apple. now at session lows. remember the stock coming off a tough week, closing below its 200-day moving average. on friday, the first time since november of 2011, a quick look at chip stocks. nvidia lower by .2 after ubs cutting its q 3 estimates, citing weakness in the pc market. of course, that continues to be a major theme and trend in the technology space. also got to point your attention to zillow.com. q 4 revenue forecast came in slightly light after missing -- after losing a big advertiser. the stock down better than 18%. and lastly, take a look at express scripts,s here the story. on the conference call, management estimated that wall street estimates for 2013 may be overly aggressive and seeing the stock better than 11%. back to you. >> thank you very much, seema. >>> it is not, of course, about only the presidential race today. every house seat is up

bill, back to you. >> all right, seema. thank you very much.s of target have been down about a percent today after the mass merchant posted disappointing seams figures. meanwhile, many high-end retailers are up, including sachs, which is trading more than 2% higher today despite a huge presence in the new york area. which is a better buy right now? let's talk numbers on that. on technical side, it's richard ross. on the fundamental side, patty edwards with true tina financial in seattle. patty, what do you think? do you expect hurricane sandy to have a material impact on a saks or target? >> i absolutely think it's going to have an impact on both of them and in completely different ways. if you think about it, saks is stuff more than you can do without whereas with target you're going to be buying clothing, replacement home goods. you're going to be buying even food. so their sales are going to be going up whereas the money that would have gone toward clothing is going to be going to places like target for restocking. i think this is going to b

. >> let's see to seema mody tracking the twitter fear. >> facebook is the big story.n checking your twitter feed you might have been able to catch the rally. jc tweeted yesterday with thousands of articles being written about a facebook selloff on expiring lock ups wouldn't it be hilarious if facebook rallied instead. everyone thought it would be down. the question is as paul points out in this tweet does the rally that we saw today have legs? the rally post earnings didn't hold. take a look at the chart. facebook reported on october 23 shares rose and then moved lower. can i hold this level and move higher from here? >> we are using kids dynamite logic. >> you would be surprised. twitter is right. if you would have checked the feed, perhaps. >> we have to give love to mr. carney. >> art carney? >> yesterday wrote this exact scenario unfolding. a call by him. >> and to steve grasso. >> that goes without saying. >> didn't we mention that earlier? >> we did. >> thanks for dropping by. it is time for the moment you have been waiting for, trade of the day. what is it? >>

. >>> tech stocks are a big force behind black friday seema mody has more. >> absolutely nasdaq is onrack to have the first best and best five -- we're seeing research in motion, the best performs stock on the back of that bullish analyst note we've been talking about all day. hewlett-packa hewlett-packard, shares hit a ten-year low. related to autonomy. apple also up today, set to snap an eight-week losing streak, the longest since the dot-com bubble streak. and speaking of apple, in lieu of black friday, the tablet wars are definitely heating up. >> you would think so. seem that, thank very much. >>> before shoppers were flocking to the mall, frayeder were flocking to the retail stock themselves. so will retails continue toss the better play and outperform the s&p? that's what we're talking about today. on the technical say is bell point 589 tiffs, on the fundamentals sigh is stephen wei weiss. jeff, would you real by retail or the broader market? >> hopefully i concede and tack some of the thunder away from steve. going forward, on a short-term basis. we're looking between the next

seema mody at the nasdaq, what's this all about? >> here's the story so far.s including pfizer, amgen and partners are working on a new class of injectable cholesterol reducing drugs that could decrease ldl. that's the bad cholesterol. by significant amounts when used on top of a statin. this is generally for patients that can't lower levels of bad cholesterol to their goal on statins alone, or can't tolerate statins. >> how big of a market opportunity is this? >> well, brian, let's get you some of the numbers. 33 million americans use statins. of these, 11 million have uncontrolled ldl cholesterol. and aadditional 1.4 million cannot tolerate taking statins in the first place. basically this could be a great benefit to patients who fall in those categories. ubs says injectable cholesterol will become an $11 billion market by 2020. big opportunity for drug firms, many of which are still dealing with losses associated with blockbuster drugs going off patent. >> what's the timeline here? when could patients see these kinds of novel cholesterol drugs hit the marke

seema mody is following the big movers over there. >> a mixed bag for tech stocks.h in motion is one of the winners after setting a date for the launch of its highly anticipated blackberry 10 device. microsoft though one of the losers after the ceo steve ballmer made some comments that its surface tablet had a modest start to sales. elsewhere we're seeing big moves in biotech and pharma. gillead shares are up showing one of its hepatitis treatments had a high cure rate. abbott also presented promising hepatitis c data. analysts say hepatitis c could become a $19 billion market by 2020. while there are already drugs on the market to treat it, there is a strong demand for an easier to take all-pill treatment with fewer side effects. >>> as we have been reporting, the fiscal cliff would mean big tax changes at the end of the year and many with with money are not waiting to find out what happens on the fiscal cla cliif. they are trying to move now to avoid higher taxes then. robert frank is here with me. you've been looking at some of the big deals that are sort of bein

let's turn to seema mody live at cnbc world headquarters. >> reporter: good morning, guys. let's take a look at the markets. futures lower after stocks stalled out on monday. the markets appear to be treading water before budget talks begin on friday as the white house and congress try to reach a deal to avoid, as you called it, the fiscal cliff in january. we get the monthly federal budget statement this afternoon and earnings today from home depot, sak's and cisco systems. the dow falling a third of a point to close at 12,813 and the nasdaq losing just a fraction to close at 2904. >>> thanksgiving becoming the new black friday. toys r us will open its days on turkey day at 8:00 p.m. an hour earlier than last year. target will turn the lights on at 9:00 p.m. last week walmart said it would open at 8:00 p.m., two hours earlier than last year. sears will open at 8:00 and stay open until 10:00 p.m. on friday. k-mart is getting the earliest jump opening from 6:00 a.m. to 4:00 p.m., taking a dinner break and then reopening at 8:00 p.m. >> in fact, jon and laura, target employee

seema mody with the story. >> well, the bears keep crawling over apple. up some of the key technical levels apple has broken over the past week. it started on friday when it closed below its 200-day moving average. that was the first time it closed below that level since november of 2011. yesterday it officially entered bear market territory. shares down more than 20% from its all-time high. today it broke a key support level of 550, a market technician at isi says 528 is a next level to watch, which is its mid-may low. guys, let's put this into perspective. the stock is vastly outperforming the nasdaq if you look at that year to date chart. the stock up 32%. i'll leave it there. back to you. >> they're not hurting at apple. that's for sure. thank you p. >> meanwhile, the fiscal cliff front and center. is it really behind what we're seeing on wall street? bob says you bet. >> robert, what are the trader telling you? is this selling all about fiscal cliff and the expectation of higher taxes? >> we resolve one uncertainty and move to another one. you can't

. >>> now over to the nasdaq, seema mody following the big movers there. >> quick look at a large cap tech stocks and how they are trading. apple in focus with the ipad mini hitting store shells. stock has been hovering around a 200-day moving average very close to entering bear market territory. travel stocks gaining altitude despite worries around europe. tripadvisor, priceline posting results better than expected. that's good news. >>> now to scott wapner with a "market flash" for us. >> watching pitney bowes today out with earnings. obviously earnings continue to come in. this company missed estimates hurt by -- just like we said last time with avis, weakness over in europe. the stock move today, it is down 14%. ouch. michelle? >> ouch, it is. wapner, thank you. >>> to the bond market. mr. sap te mr. santelli, track being the latest on the jobs reports. >> we used to have an s-curve on the drive. but look at these intraday one-week charts. you look at a five-year, after the data it zoomed lower. now down on the day, four basis points on the week. 10-year is basically unchanged on

. >>> we're going to head down to the nasdaq to seema mody. >> strong day for tech. it is apple that's stealing the show. check out this chart. just after eight straight weeks of ending in negative territory. shares of apple moving sharply higher, although still down about 20% from its september highs of 7.$705. and is providing a haloed effect to its suppliers. nuance communications said to be behind the siri app. that stock is up. omni vision rumored to be behind the image sensor used in the iphone, also moving sharply higher. overall tech is the best performing sector on the day, rising more than 2%, although it's got to surpass 458 in order to get out of correction territory. >> thank you. >>> gold prices closing right now. jackie deangelis tracking action at the nymex. >> the metals complex seeing a lot of green today along with the broader equity markets. gold up $19.50. the reason is optimism on a deal in the u.s. over the fiscal cliff. that is the talk down here in the pits. traders telling me gold has held very well above $1,700. they are expecting to see a

. >>> to the nasdaq now and seema mody is there following the big movers. >> hi, sue.ood afternoon. the big headline in tech that we're watching -- apple. selling 3 million ipads over the first weekend. analysts at bmo capital writing that total ipad sales for the first weekend support their forecasts for the december quarter. however, pricing could potentially be an issue for the ipad mini. nonetheless, we're seeing and the shares up about 1%. within the biotech world, we're seeing a lot of action there today. biomarin soaring after its late stage study on a rare disease drug met its primarily goal enabling the biotech to file with the fda first quarter of 2013. the stock up nearly 30%. lastly, amgen in focus. data around its inject ababl aa cholesterol study. this could calm the market by 2020. i'll break it down more in "street signs." back to you. >>> a big story from politico over the weekend. on how chris christie was mitt romney's first pick for vice president. this and all the latest from the campaign trail as the clock ticks down. we're joined by politico's ch

. >> seema, thank you. >>> to chicago and rick santelli tracking the action at the cme. >> i really do that the president and obviously the market movement was all predicated on the center of the universe being stock prices. if you look at intraday, 1:00 eastern, interest rates moved a little lower but really the big move on interest rates was earlier in the session when you saw a 10-year note touch a 1.57% yield. the s&p 500 chart clearly shows a downside to equities that probably was the reason you had a downside to the trade in terms of yield on the fixed income. last, but not least, you see that the dollar index did kick up a bit. traders saying they're not sure exactly what's going to happen with regard to fiscal issues, but without a doubt they continue to pay attention as taxes have a big outsized influence on the state of the economy. back to you, sue. >> rick, thank you very much. >>> president obama, you saw him just a few moments ago, pushing for a balanced approach to resolving the fiscal cliff. is this possible with a divided congress? representative peter welsh is a democ

seema mody to the nasdaq, she is following the big movers. >> technology a sore spot for the markets the s and p tech index trading in correction territory, microsoft down on the departure of the windows division head. management shakeups the street likes, this one they clearly don't a quick check on social media stocks, facebook shares under a little bit of pressure as the street braces for a possible postlockup selling, the biggest lockup since facebook went public. roughly 800 million shares, sue, back to you. >> thank you very much, seem ma. to the bond market now, rick santelli is tracking the action for us at the cme. how are yields doing today, ricky? >> still continues to be a one-way market. the only thing we a by how big of a one-way street is it on? today, only a couple of basis points. look at a chart starting august 1st most important feature, close to a two-month low in yields on the ten yours as well as the 30 as well as the bond. if we look at foreign exchange, very important, see october 1st dollar index, hey what is going on? dollar index is doing well. things reall

. >> seema, thank you. >>> stocks are ugly. investors are nervous. and what do investors do when they get nervous? they buy government bonds. which is exactly what they are doing today. james kemp, managing director at eagle asset management. james, a short-term parking spot or a real move back into bonds? >> well, brian, i think a couple of things play into the trade today. we obviously i think have a very big relief rally in treasuries. one of the parts of the election that was perhaps not as well known to the public is mr. bernanke's tenure and governor romney's proposal that it wouldn't likely be continued past 2014. it now appears to the quantitative easing regimen that's in place with mr. bernanke goes on for quite some time. we have the mortgagely mortgage buy. we likely have an extension of operation twist in december. there's plenty of liquidity supplied to the treasury market. >> just to be clear then, you believe this could be a bernanke driven boom but the only way i'll push back on that, james, is that if that's the case, wouldn't stocks

seema mody, how much of it is apple, how much of it is the rest of the tech sector?> apple still the big story here. it continues its move lower. stock down 2.6%. it just broke a key support level of 550. that's a key level that market technicians watch. technical story on shares of apple still very much at play. however, if you are looking for a bright spot in tech, take a look at qualcomm. it reported earnings last night, gave the bulls in tech exactly what they wanted -- strong growth on its top and bottom lines. smartphones being the key catalyst here as demand for smartphones picks up. so do the demand for mobile chips to power those devices. that's the play on qualcomm. the stock up 6%. other chip stocks in the sector also getting a lift. we have nvidia up 1.5%. intel recovering from the 52-week low that it hit yesterday. big s dr biggest drag on the nasdaq 100, whole foods down 4.9%. weak guidance has investors worried. we have to continue to watch that level. >> thank you. >>> to housing now. another new sign of recovery, home prices took a big leap in last q

seema mody explains. >> diwali will be celebrated by indians all over the world.celebrate by buying gold. according to the world nold council, demand is generally very strong between october and december as buying gold around in time is considered auspicious and lucky. and it also kicks off wedding season in india. however, with india's sluggish growth rate, high inflation and the rupee depreciating, some are speculating that appetite for gold this holiday season may be less. brian hicks says because of the continue you go rupee weakness, demand ahead of diwali is weaker compared to last year. how far, what might help is two days before the diwali when indians traditionally start their gold buying. this year it fell on a sunday. the director of world gold council in india said a lot of the gold selling channel which was are usually shut on sunday actually opened to allow their customers to buy gold. this included stock exchanges to sell gold etfs. shares of the spdr gold trust etf has actually moved lower. in the past during the same time frame, it has moved highe