i'm sheila dharmarajan.il tanker charter rates are expected to decline due to weakening global demand for oil and increasing opec production. take a look. tankers all down around 6%. sue? >> the losses don't stop there. we are going back to the markets and have bob pisani and kenny pulcari on the floor. kenny, what's your reaction to this? it's pretty broad-based. the russell 2,000 is that close to going into bear market territory. what do you think? >> you know, you and i have been talking about this. we have all been talking about it. the sense that the market needed to reprice based on the recent data that's come out, the fact that the market had this big runup last year ahead of all the supposed good data and now the data is here and what's happening? some of it's mixed so there's a repricing in the marketplace. once it starts, you get some technical difficulty which then feeds on momentum sellers and you've got this kind of downward spiral we have at the moment. we broke technically through 1765, haven'

sheila dharmarajan is looking at some of the global markets. let's begin with it says dominici chu. >> my new name. you didn't get the memo. >> some of the blue chip names already in correction territory. >> there are quite a few. look at the s&p 500. out of those 500 large cap blue chip stocks, over 100 are already off by 10% or more, and another 30 are off by 9%, within striking distance, so 130 plus companies in the s&p are already at or near that correction phase. here are some of the big ones. check out s&p material stocks. year-to-date, they are down 6%, more than halfway to correction phase. one well known name in that mix is u.s. steel. that particular stock is off as well. you can see there, down by 15%. that may go on the shopping list for some people, who are more bullish on the long term steel industry and are trying to buy on a pullback. another sector to watch here, a big one for sure, is s&p industrials. they are down by 6% as well. more than halfway to correction. a big name within this particular universe in industrials is a tr

i'm sheila dharmarajan. check out carnival cruise line. company said it set a one month reservation record in january, setting an all time high for the number of guests booked in a single month. that was actually a 17% gain from the same period a year ago. carnival, though, is down today of course in a down market. mandy? >> thank you very much. we called it the biggest bright spot in the economy right now. mortgage rates. they are continuing to tick lower. just a moment ago we showed you the ten-year yield, below 2.6 now. what does it mean for mortgage rates? let's get to diana olick in washington. this is the upside, isn't it? >> absolutely. it's the upside to the downturn in the stock market and a chance to lock in on a refi if you haven't already. as investors head to the safety of bonds, both treasury and mbs, yields go down and mortgage rates follow. take a look if you will at last week, the average rate on the 30-year fixed fell from over 4.5% to 4.34% friday and today, sources at mortgage news daily tell me that rates for the very

sheila dharmarajan, what was your take away on it? >> reporter: it was a big surprise. investors were very disappointed. the big key takeaway is scale. how does twitter make money? tierz advertising. this number put lot of doubt into that. that's why people are so concerned. if it doesn't have the scale, if it doesn't have the user good what does it do for advertising ultimately twitter's profit? >> did we hear why it was as anemic as it was? >> right now they're focusing on the positives, which was good, right? profit, sales beat estimates, their mobile stats are very good. we're still waiting to go hear the question and answer session. >> we'll wait for that. stay there, sheila. we heard from disney after the closing bell with reports from last quarter showing a big improvement in its movie studio division. and ceo bob eiger cited box office hits like "thor" and "frozen" and saving mr. banks" about company founder walt disney. >> when we bought picx are we wanted to protect and allow pixar to continue to prosper with the gray movies they were making. we wanted to use

sheila dharmarajan is live at nasdaq reporting on which stocks did best after that recent dip. first, to seema mody on what may actually be lifting the markets off the lows. that is earnings. >> it might be earnings. strong earnings driven by two sectors with companies not only beating expectations but reporting a notable jump in sales growth. the winner is technology and consumer discretionary. the average sales growth rate for tech is 5.4% which is higher than the s&p 500 average of 1.1%. three major catalysts, i.t. budgets are coming back, a pickup in the european economy and lastly, the adoption of digital. according to neilson, americans on average now own four digital devices. some of the tech all-stars that have posted double digit revenue growth include facebook, google, electronic arts and consumer discretionary is realizing a 4% rise in sales growth. a gradually improving u.s. economy resulted in consumers spending more on autos, the housing market has benefited from this. d.r. horton posting double digit revenue growth this quarter. companies who have not reported ye

let's head to the nasdaq with sheila dharmarajan. >> reporter: well, what's also down today is the nasdaqnasdaq taking a breather today after an eight day winning streak, down about half a percent on both the nasdaq 100 and also the overall composite. remember, though, the nasdaq has gained about 6.5% over the past eight sessions so traders telling me look, not a huge surprise that we are seeing a little bit of pullback, especially on a day like today when all eyes are on the upcoming fed minutes. looking at the movers, take a look at garmin, the biggest winner today after the gps maker reported earnings and forecasts that beat estimates. also seeing some very nice strength in facebook, social media giant hitting a new record today. as for the rest of the sector, little bit of a mixed picture. yelp, groupon and twitter are lower. of course, the one stock here that everyone is talking about is tesla. remember, tesla was one of the key momentum stocks that led the nasdaq higher so a lot of people waiting to see what mr. elon musk will have to say. kate? >>> rick santelli tracking the action

sheila dharmarajan is following the big movers there. >> reporter: well, the nasdaq basically holdingflat levels today after that big rally yesterday. taking a look at the movers, got to talk about tesla. that stock is surging today after that very bullish morgan stanley note. also, very positive rating from consumer reports. take a look at priceline as well. that stock is popping after a strong earnings report. also lifting up other names like trip advisor in that e-travel space. on the losing side, we have expediters international, the freight company, after an earnings miss. the company did cite weak ocean freight prices as part of the reason. also, facebook, apple are down today which is of course dragging down the overall index as well. back to you. >> thanks very much. >>> to the bond market. we had an a-minus in the auction earlier but we have more to go this week. rick santelli is tracking the action at the cme. >> this is a big day in treasuries. treasuries have avoided the upside of equities but all of a sudden we're seeing the down side of yields and the upside of treasurie

sheila dharmarajan checking that earlier.re coming off of two straight weeks of gains for stocks and the best week last week of the year. three winners to show you, forest labs and actavis. and another big winner, first solar. tyler, little bit of m & a excitement. >> thank you very much. it's been quite a comeback from market lows over the past couple weeks, up about 5% on most of the major barometers. i will keep playing with my air cork here. that will do it for this edition of "power lunch." "street signs" begins right now. >>> your numbers of the day today, 13 1/2. the amount of time in years it's been since the nasdaq has been at this level. 62, the number of time in years it's been since the u.s. has won a medal in an olympic sport until today. you will hear from the men who did it. and 1323, the amount of money in dollars it would cost you to buy just one ounce of gold, way up from a month ago. hi, everybody. i'm brian sullivan. if the giant olympic flame over my shoulder didn't give it away, i'm coming to you live fr

joining me, cnbc m ddominic chud sheila dharmarajan. missing estimates three of the last four quarters. what are we expecting this time around from yelp? >> a loss of two cents a share, no surprise there. they are trying to get their feet under them. revenues $67 million. it implies trades at 14 to 17 times sales depending how you pan those things out over the year. what it comes down to for yelp is its mobile user rates. you talked about that with pandora. everybody else who has a mobile app, that will be huge. also, what the reviews are going by. that's something people watch as well. this is always a volatile stock, like you said. this time around, the options market is pricing in what could be a plus or minus 14% move on the shares after this number comes out. that's something you got to watch as you go into an after bell, after market situation. >> it does seem a lot of analysts are positive going into the quarter. given some of the data we got in the fourth quarter when it comes to minutes as well as engagement, in other words, an

sheila dharmarajan is following the big movers there and it has been one heck of a volatile week. >>h, but what a way to end on this friday, right? the nasdaq completely outperforming. in fact, the nasdaq 100 and the 100 composite well above that 1% mark. it really has to do with the one-two punch today. the first part of course being apple and the big buy-back, that stock buy-back having a huge positive impact but also, earnings. very positive earnings influencing the nasdaq to the upside. take a look at activision, one of the biggest winners today on a percentage basis. the company said profits were better than expected and also subscribers for its war craft game were turning around. online travel, another big bright spot after expedia's big earnings. i want to mention biotech as well because again, a big outperformer in the overall index, up about 3.5% just today. biogen's m.s. drug said to be tracking better than expected, one of the reasons we are seeing such a big advance today. bill? >>> if you're just joining us it's been all about jobs today. another weak report for january.

but there are stocks already in correction territory and dom chu and sheila dharmarajan will show usnity potentially behind the doors there? speaking of a new man behind them doors at microsoft, a new guy has been named as expected, satya

here to break down today's moves sheila dharmarajan. >> we have a lot of movers but herbalife kickingstock had opened to the upside this morning after the company forecast q4 profit and sales above street expectations but now in the red. verizon and at&t leading the do you lower after at&t plans to cut prices on its shared data plans by 20%. in retail land joseph a. bank and men's warehouse continuing their squabble. the former rejected the rival's latest takeover offer. on the plus side we have a winner, one of the few today, that is pfizer. climbing on news it's experiment experimental breast cancer drug succeeded in midstage trial. we begin with yum brands. street calling for an 80 cent gain and hartford expected to make a 90 cent profit on sales of $5 billion. we'll have results of both in the next half hour on "the closing bell." >> yes we do sheila. thanks very much. we'll also talk to the hartford group. >> we can solve the joseph a. banks/men's warehouse fiasco. why don't you buy one share you get seven shares free? >> if we have a lot more days like today -- >> just like thei

sheila dharmarajan in the nasdaq and rick santelli. >> bob, first to you.ex going to close? >> i don't think it will close at a new high. the story is verizon completed its transaction with vodafone. they bought out vodafone's interest in verizon wireless on friday. it's now being rebalanced in the s&p 500 and it looks like $46.23, they're just completing this deal now. the last price before that was $46.54 for verizon. it looks like the s&p will be down a little, and, kelly, 1847 we're at right now. the old closing high was 1848. i don't think we have a new high on the s&p 500. >> it looks like we're just going to miss it, bob. please do flag us as soon as it looks like that index is closing. in the meantime shall want to get over to she'll ila. what was driving the nasdaq? >> today there was a flurry of reasons. tough talk about tech m&a. we've seen $50 billion worth of deals done in 2014 so far. that's the best year-to-date we have seen since 2000. a lot of people really talking about this trend and what they're also noting is interestingly we are seeing

now sheila dharmarajan has been crunching the numbers. >> when you look at the indices, yes, we have little ways to go before you're talking about correction territory. you start to peel back the layers and certain sectors are definitely inchesiing closer. three sectors are down 7%. we're talking consumer discretionary, consumer staples, also energy down 7%. so a little bit closer to that correction territory. you peel back one more layer at the subsectors and we're already in correction territory. take a look at retail, for example. we all know it was hit very hard after a very lackluster holiday season. the s&p especially retailing index down 11% this year. also a seconder you may not have thought of, insurance. just a stone's throw away from correction territory down about 9.5% this year. led by names like chub and progressive. finally, you got to talk about the small caps, the little guys. everyone likes to talk about the russell 2000, whether it's a leading indicator of what's happening in the economy. if you take a look at the performance of the russell 2000 we're down only 5%,