so i don't think the bubble is nasdaq 5,000. i think we're just at the beginning of something even bigger than anything we've ever seen with the worldwide web. >> maybe no bubble in the public market but the private market is telling us a very different story given the valuations we're seeing in silicon value. uber at $40 billion, snapchat at $19 billion. investor from silicon valley are looking overseas for opportunities, specifically here in europe. in fact, european venture capital investment guys last year reached its highest level since the dotcom boom. forget all those concerns about deflation and sluggish growth in europe. investors looking for opportunity here in the private market. >> all right, thank you so much. >> thank you. >> our next guest experienced the changes in the tech industry first hand. >> yes. joining us in a cnbc exclusive is craig can narkanarick. >> thank you for having me. >> you were in the middle of it all, the ups, the downs, going public, being in the middle of a "60 minutes" interview and all of

the nasdaq closed 44 points higher. it was 5,008. the s&p 500 also at a new all-time closing high up 12 points to finish the day at 2,117. berttha coombs joins us with what drove the index to this level. hi, bertha. >> it's been an amazing ride tyler. 15 years ago, you had stocks that traded on the nasdaq with valuations that were sometimes 100 times or more what their earnings were, if they had profits at all. very different index right now. if you take a look at a number of these stocks some of the high flyers they now have valuations that are much closer to the closing market. the nasdaq 100, even if you have stocks like amazon and tesla, you still have other stocks that brought the nasdaq 100 pe down to 19. that compares to the s&p at 17. and really the biggest indicator is apple. apple, despite being the largest company emp by market valuation, trades at just 14 times its record-breaking earnings. pr. >> bertha thank you very much. bertha coombs at nasdaq. >>> bertha mentioned apple and it was a big part of the nasdaq's march bac

do you see value in the nasdaq itself? >> well the one thing that zach brought up on the bubble character is just because stocks or an asset goes up it doesn't mean it's a bubble. that's number one. number two one of the things you did mention is cash and how much structural reform we've seen in technology. these companies a lot of them are paying dividends. you have great cash flow great return on invested cash. the theme has to be going forward and how these companies are going to employ the cash over the next several years. especially consideration how defensive many of these companies have been the last 15 years. we think from a longer term perspective the sect ors in a are able to demonstrate structural reform are the ones that should outperform. that's why tech has had a great run. it's a higher barrier to entry companies, companies that are high bricks and mortar type companies. that's where we're talking about the intels microsofts and apples, and googles. mroo thank you. brian and zach, good to see you both. by the

thanks so much bertha coombs over at the nasdaq. ald's continues to lose sales and shed customers, not all fast food chains are seeing the same fallout. the nation's largest chain of drive-in restaurants, sonic, announcing its first-ever double-digit quarterly sales gains this morning. same-store sales up more than 11%. the company's stock has gained more than 6% at this hour. joining us on set at post 9 is cliff hudson of course, the chairman and ceo at sonic. >> great to be with you, carl. >> that's a comp. 11 is a comp. >> it was a good winter for us for the quarter ended february 11.5% comp. as you said in our years as a company, the first time we've ever had a double-digit quarter. >> how much of that can you attribute that to gasoline? >> there's no doubt that that's a contributor. our average customer with income $75,000 or less probably has $215 a month in their pocket that they didn't have a year or two ago. there's no doubt that that's a contributor. yet at the same time our creators is working well, our prosecute motions a

the nasdaq down 37 points. taking a look at european markets, generally an optimistic view on the rebound with manufacturing and the data yesterday surprising to the upside but that resulted in the euro gaining ground against the u.s. dollar. that's the opposite of what draghi wants. we're looking at investors taking some money off the table. it does look like we have a sell off here. the dax down triple digits. 180 pound move to the down side. the cac 40 seeing a loss of 1.2%. in italy a move to the down side. 1.5% move and the ftse 100 with a loss of around 1%. so it is red across the screen here. not just in response to what we saw in the u.s. but here in europe investors taking money off the table. that has to do with the currencies market. >> definitely but a very odd spark. very tech focus and equities in the red. oil prices in the green today. bouncing after those saudi backed air strikes in yemen. a lot to discuss with our middle east correspondent going forward but the effect on the oil price has been c

the nasdaq up 37 points. 're comfortably above 5,000 and we have to get another 19 points higher here. we have got expiration coming up. that could put us over the top. we will see. >> we'll take you through it of course. coming up biotechs a big driver in today's nasdaq run to a new high. biogen idec is the stand outgetting a big boost from a promising alzheimer's drug. they have certainly been hot in this rally. >> sara let's say you have some money saved up. would you rather save that money for a vacation or put it in an individual retirement account? >> that is the question. i would say retirement account but i'm probably in the minority. >> we have the results of a new survey and what other people said about that and it's not even close and i bet you can guess which side one in a lopsided victory. this may shock and surprise you. we have that coming up on "closing bell." ♪ its effects on society really came about because, not because i was selfish and wanted one for myself, which i did. its because i had,

and the nasdaq back above 5,000. azy valuations and how the index stacks up now. "squawk box" will be right back. ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients. it's a uniquely collaborative approach you won't find anywhere else. put our global active management expertise to work for you. mfs. there is no expertise without collaboration. >>> welcome back to "squawk box" this morning. take a look at the futures right now. see how things are setting themselves up on this morning. you're seeing the dow look like it would open down 57 points. nasdaq off as well about 12 points. but make it a little hard tore make it to its all-time high. the s&p 500 off about 6 points. also remember the mysterious cave found in toronto that had investigators worried? well, two men in their 20s dug the bunkerlike tunnel as a man cave. it was a hangout for them. the tun

compose nasdaq be part of the rally. ts extremely constructive. of course it's been a 15 year type of base that's been formed and we do feel like today's nasdaq is much different than it was 15 years ago. the valuations make sense. the balance sheets make sense. the dividend profiles of these companies make sense and of course the car and internet are exciting developments for the companies. >> how much do you worry about the business cycle? now more than 67 months old? do you think that it's time for the business cycle to kind of expire? and we could be looking at a correction? >> it's a great question as well. the business cycle we think we'll maybe take a little bit different shape because of the financial crisis which was a global development. we think we're probably in the 7th or 8th inning of a meaningful business cycle here in the united states but we do think that we're just getting going perhaps in europe. china is slowing. japan is showing signs of life. this is some global legs to the business cycle and nasdaq

>>> live from the nasdaq market >>> live from the nasdaq market site, i'm melissa lee. the traders behind me getting ready to go. here's what we have. >> the money is coming your way, you don't ask any questions. >> well, frank, we have one. how much does "house of cards" matter to netflix? >> how fast are ge shares rising? >> go! >> and you won't believe how high traders see it going by next year. >>> and something really strange could happen to microsoft. not that strange but we have a scary chart that has traders on edge. the action starts now. >> want to know the key to the tech rally, just check out these four stocks. check out apple, microsoft, google and facebook, the monsters of technology and they are lifting the nasdaq up to near all-time highs. dan, you are starting to see cracks form. where? >> it's not just apple. you just had apple up there. it's 15% of the nasdaq 100. in my opinion, there's a little bit of a sediment bubble going on there. a lot of catalysts coming up and people are focused on valuation they think is pretty reasonable. that makes perfect

the nasdaq chock full of tech names hit 5,008. >> years ago. right now we are at 4, 995, so we're watching that. halted and then slashed, the stock of lumber liquidators after that brutal "60 minutes" report which revealed they're selling chemically unsafe flooring that could give you cancer. today the company blaming short sellers saying they're out to kill the stock. ll says its flooring is safe, but the stock is not. it is down more than 22% right now, getting clipped by $11.49. offering less than the last trade, really? hewlett-packard announces the biggest deal under meg whitman's tenure for aruba networks. the price? $24.67 a share. look where it's trading right now, $24.48. yeah. you're not loving that if you're in ruin ya -- if you're an aruba networks holder. it's the last hour of trade, let's start the "countdown." ♪ ♪ liz: a fox business alert, it's been 15 years since we heard from -- it's not been 15 years since we heard from the oracle of ohm to that, but waiting for his shareholder letter can feel like a long time. warren buffett

and the nasdaq just a had below 5 k. meantime, twitter faces more threats from people who claim to be part of isis threats. twitter is investigating. hey, julia. >> hey, carl, that's right. they are calling for the death of twitter employees because of the service blocking their accounts. the threat on an anonymous site sunday showed a picture of dorsey in cross hairs warning quote, we always come back. this refers to the fact that twitter deletes posts and suspends accounts that share isis videos. they bar any user from using twitter to further illegal activities. issuing a statement, we are investigating the voracity of these threats with law enforcement officials. this comes after the ceo revealed this past fall that employees have been threatened with assassination by isis prompting the company to step up security. the fbi and national security council and homeland security have all given no comment. we'll see if there are any updates at the white house briefing coming up in about half an hour. >> thanks so much. wel

back on tech, the nasdaq is back big. cording to this chart, it's a low debt indicates shares have more room to run. the lowest among the nine industries in the s&p means they don't have to pay down debt and they can return all of that money if they wanted to to their shareholders. someone who knows a lot about the industry is no wyman -- is bill wyman. he joins us now from washington. bill, what do you make of that? is that the right way to look at this that they practically have no debt soaked stocks have room to run? >> it is an important part of the puzzle. not only do they have no debt but they have massive amounts of cash. that cash is being generated by record profits and that is the biggest difference between now and 2000. tech margins in 2014 were record highs at 22%. that is generating record profits and cash and record cash returns. there were turned over $200 billion just in the last year to investors. this is an important part of what is driving the tech rise. betty: it is hugely important. the numbers seems t

bertha coombs is at the nasdaq. mary thompson at the nyse. dominik at the nasdaq 100 laggards. you're next. >> peggy lee sang the song "is that all there is." great song. traders aren't ready to say that's all there is for nasdaq 5,000. today we are seeing a broad decline, though. the big caps are down. apple has come off the lows. that's more of a watch and see if we can get momentum to the up side for the bulls. it's biotech today that is really where you're seeing the pullback. you're seeing it across from where mankind is among the worst performers having been downgraded a sell over at goldman, over concerns about pricing pressure in the wake of gilead's pricing pressure on its hepatitis c drugs, and then on the other side on the flip side, the drug makers are higher. also, seeing positive data on its diet drug. back to you. >> okay. the dow down triple digits as we saw. mary thompson on the floor of the nyse. we do seem to be coming off those lows. what are traders telling you, mary? >> they have no shortage of reasons for why we have seen a down day throughout the session.

the nasdaq closed over 5000. industrial and the s&p hit all-time highs, and that is leading bill gross to saying there is a danger of a market bubble. the fed will raise interest rates soon. bill gross: what has been promoted has been potential bubbles in stock markets and in bond markets, and i think the fed is willing at this point to at least the knowledge that by raising interest rates 25 basis point in june. olivia: according to the fed'd s fund futures data, traders say there is a 17% chance that the fed won't raise rates at its june meeting. and google has an android mobile operating system that will -- that will offer its own wireless service that could make it easier for google to sign up more wireless subscribers. google says it is not want to compete with the larger providers. in fact, it is teaming up with some of those carriers to launch the service. brendan: general motors facing new lawsuits. life people who brought injury claims have rejected the settlement offer. it is the first time it happened

the nasdaq is down 2%. news update with sue herera. >>> the army sergeant who abandoned his post in afghanistan and was held by the taliban for five years will be court-martialed on charges of desertion desertion. >>> the state department confirms there was a third american on the germanwings jet that crashed into the french alps. investigators have extracted the cockpit voice recordings from one of the black boxes from the plane and expect to have a read out of its contents within days. >>> japan's maritime self-defense force unveiled its largest helicopter carrying vessel to date. it is to play an active role in patrolling japanese waters for submarines. >>> and new research finds obesity increases the risk of liver cancer while drinking coffee may help protect against the disease. liver cancer now becomes the tenth type of cancer to be linked with obesity. and that is your cnbc news update at this hour. back to you guys. >> that will do it. thank you, sue. 30 minutes to go. >> yes ma'am. and the selling

i don't hate the nasdaq here. i think the valuations are fair but i think you'd have more opportunity in small and mid. >> but you are at all time highs for the russell and the midcap. they have been setting all-time highs but you still see value. >> but think of what we want. we want a strong consumer. i know the consumer is not spending at the rate we want. part of that is in the dynamics the older crowd that is earning money is saving some of it but the health of the consumer has improved year over year, quarter after quarter. if you continue to get that, you will spet for for the market and further strength from here. look at the sales number. look at the earnings outside of energy for the first quarter. they look great and that's where the support for the market is. >> in a way this week is all about a build up to friday's jobs number. i wonder if the auto sales -- i know you're passionate about cars. tell us something about the impact we could see from the weather, perhaps the port strike. will there be varia

if you look at how the nasdaq has done since the low in october of 2002 below for the nasdaq after it breached the 5000 level, this is also staggering. 13,000% increase for apple since the october 2002 low. amazon, 2100%. starbucks up 780%. the reason we do not include google is because google was not a company that time. it was not even around in 2000. if you look at the top weightings in 2000 versus now it is notable. microsoft was the number one weighted stock followed by cisco and intel. these are old tech companies. microsoft still up the overshadowed by apple and google making its entrance as well because it was not around in 2000. one final note i wanted to make was it took a lot longer this time to get from 4000 to 5000. at first glance, it would appear it took 461 days or 313 trading days to get from 4000 to 5000 this time. last time, it took 71 actual days and 49 trading days. that was a very rapid rise up. this time, it seems orderly in comparison. >> my mind is sort of blown by this. google, which was not around them. >> apples market cap finished the first quarter of 2000

the nasdaq outpacing the others with a 3% rise and the s&p. so its steepest weekly advance. but focus squarely this week on nasdaq that closed above 5,000 for the second time this year and on a few occasions this week the index was up when the dow and the s&p were down. so why the recent strength in the index? bertha coombs has our repo. >> reporter: the nasdaq is now within reach of new all-time high. and this time around says j.p. morgan's kate moore, the tech heavy index is driven by profits more than hype. >> we actually think that tech earnings are much more stable than they've ever been before. and in fact in 2000 and kind of like a 15 years ago, it was a completely different sector without earnings and i think a lot of hope and optimism behind it. this is a real fundamental story and actually, tes one of our biggest in portportfolios. >> reporter: the nasdaq trade more than 20 times earnings. not much higher than the s&p 50018 price earnings ratio. in part because of diversification. like walgreens and anthem now live here alongside tech juggernaut apple. though there'

the nasdaq fell 4,000 points nearly in one year during the bust. you're all about the free pancakes. i woke up the head of marketing for ihop this morning, i figured he'd be in new york where it's almost 10:00 a.m. he's on the west co. all right, the reason ihop's pancake day is today, it's usually the same day as the relingious holiday shrobe tuesday, it's like a really bad version of mardi gras. i can say it, i'm anglican. this year they delayed pancake day to get it farther away from christmas. i needed to find this out, i investigated. >>> finally twitter or tinder is out with a new version of dating software. >> that's not kid twitter. >> if you swiped one way but meant to swipe the other it means you rejected a date and really meant to keep it. anyway, it costs more for people over 30. 19.99 if you're cold and 9.99 if you're young. at least old people can afford it. >> who is to say what's young and old. >> and if you're married, it's really going to cost you. >> oh, it's going to cost you. >> an extra premium for that. there's other sites fo

up welcome back the nasdaq 100. we've had as many as four stocks today, but those are the only two that are moving to the up side. biotechs are the biggest source of pain, and depending on which biotech index you look at the equal waitd weight xbi etf is seeing the biggest drawdown today down the most and what you are seeing is these names that have been consistently at historic highs and have been really leading this market higher today are seeing a lot of profit taking. recall last year we saw a huge drubbing of biotechs in the spring in april. they looked like they were left for dead and then came back by the fall. we're back to historic highs continuing through here. this could be partly a seasonal thing as well. also among the losers today, some of the big chip names as well as bob mentioned, and tesla on that downgrade over at csla. apple is lower, but not as much as some of these bigger names that we're seeing. back to you. >> what is your grade, sir? >> the grade on the demand 1:00 eastern straight up was d f

. >>> coming to you live from the nasdaq markets. i'm melissa leon an absolutely blutal day for stocks. >>> there's something funny about apple joining the dow. relax, all we're say saying apple shares may not do what you think. want proof tech is in a bubble? >> we have a shocking chart that proves it once and for all. action starts now. >> growing jobs, sinking stocks and on the back of this morning's impressive jobs report, treasury yields serve. the question are rising rates killing this rally. dan, you are a bear. >> i'm a little skeptical. >> the fed is walking a tight wire, they have a real opportunity to mess things up badly. to me they are damned if they do or don't. if they kill the rally, the market is in trouble. i just mention this, when you think about what we saw in treasuries over the last couple of weeks and high yielding sectors and utilities, they've been slaved and the xlu was down 10%, that's telling you investors are repositioning for a higher rate environment. >> also, for the investor here and now, classically,

the nasdaq for the first time since the depth ones f the dot com bust getting back to 5,000.es, we're wondering today whether a new bubble in tech is brewing. jim, you make the case right now bluntly, the nasdaq is fair to cheaply priced. >> i'm actually going to go back a little bit in time. i remember an article from 2000 with cisco on the cover and they talked about 80 times earnings. well, guess what, it took 15 years. that's about how long they said it was going to take. that's how long it's taken. a lot of these stocks, these are all a value prices right now. >> pete, you make the argument as well, there's a lot more to go. >> when i look -- >> well, when i look at these names, i think some of the differences are, they have huge market caps. but you look at microsoft, you look at a l, amazon, some of these names. some of those amazon obviously being one of those where you do have a higher valuation. we've also seen how they've been able to perform. on the other hand, you look at a apple, obviously you look at the biotech space as well. they all trade with reasonable val

of course the nasdaq closing above 5000 yesterday. en a dis disappointment here in the states at least. ford came in at minus 1.9. estimate positive 5.2 as it was too cold and/or snowy for people to go out on car lots in great volume. downgrades of retail names. keep our eye on various sectors. utilities now in correction territory. they were all-time highs at the end of january. seems like yesterday. >> big move. >> as rate picks are changed people move money around. >> the ten-year yield coming up during february, conversely also the treasury sold off very, very strong rally in the equity market. in the hiatus between that rally and the employment report on friday which many take cues where to go next. >> people worried about weather. >> also a factor. >> the port issue. the goldman downgrade specialty retail names arguing that the ports and weather might impact inventory all the way through east, one reason they took pvh down from neutral from conviction buy. >>> will uber be the end of the traditional taxi? prices have plummeted in

apple represents right now, at the close today 10% of the nasdaq. this is a company with a market cap, depending where the numbers close, 748 to $750 billion, and microsoft trailing about 5% of the nasdaq but a different mix of company from 2000. starbucks tess los angeles -- tesla, comcast. we got decent numbers from manufacturing data here and european inflation neighbors that help the market do well. the story here is technology. at least today. we had a couple of things to highlight. hewlett-packard that company bought aruba network, 2.7 bill deal, and then a huge merger helped the nasdaq, and. creating a $30 billion company. now, here's the thing neil. when you look at what happened 15 years ago remember, in 2002 we bottomed out just above a thousand. it took us this long, from 2002 to now to get above the 5,000 mark but it's growth it's earnings, it's reality. and it's not a sock puppet this time. s&p closing at record highs. >> they can't stick a sock in it. thank you very much. is this rally about to get socked like that puppet? gary, whew ar

the top story on wall street is the nasdaq. g 5000 for only -- breaking 5000 for only the third time in history. is this the sign of the bubble? the last time you hit 5000 was in march 2000, days before the bubble burst. there are some things that are different, some things that are the same. joining us from san diego to discuss this is paul kedrosky and lincoln willis. let me start with you. what is not different this time? >> what's not different is investors seem to continue to be really engaged in the magic of growth and technology. similar to the way they were in 2000. although the characteristics as we will discuss the margin of this time around. the nasdaq is trading at only 1/8 of it what it was trading in 2000. the complexity of companies that make up the index itself, even apple in 2000 was only .2% of the index. now it's at 4% of that index. apple is looking more to value company than a growth company paying dividends. >> adjusting in that. -- interesting in that. i think the price of earnings ratio is whatever was ta

i still think nasdaq, the stock works. >> to me, it's republican interesting to look at the nasdaq thenow. one of the things bob was getting to is the fact that it's not about technology per se. let's talk about facebook. because to me, facebook to me is really on some level, you know, bricks and mortar commerce if they're going what they're doing which is monotizing 1.4 billion users. the evolution of the internet, social media, no one contemplated this back at nasdaq 5,000. facebook is a company for probably the next five to ten years where we don't know what they can do, but we know they have the largest scale. evaluation is interesting, monotizing and they are today's company of yesterday. >> guy hit on it. it's really been since december that you've seen this big outperformance compared to the nasdaq deposit. and i think a lot of that has to do with the market anticipating the private market that bob talked about. that is a big area that people have gotten into it. second market was into it, you have nasdaq in that area, that could be a big growth driver, no matter what happens wit

the nasdaq is about to hit a level it hasn't seen in 15 years. and as spring training games begin, an inside look at the outsiders changing the game of t baseball. >> are you saying the vast majority of stuff i learned in little league and everybody learned in little league is wrong? >> wrong. captioning sponsored by cbs this is the "cbs evening news." >> glor: hi, everyone, i'm jeff glor, with the western edition of the broadcast. it's been a tail of two coasts right now march doesn't look much different. these places in the east, had their coldest ever. caribou maine and jfng, 24°. the following spots in the west just had their hottest february on record, yuma, arizona average temperature 68.4, las vegas nevada, 60 and portland, 49.2. these are taking a toll many ways. we start with carter evans. >> a weekend snow storm >> reporter: a weekend snowstorm is a welcome sight to ski resorts out west. many were considering shutting down early this year. but even the temporary reprieve is not enough. the sierra snow pack is just 19% of normal. critical

the ones that got us back to the nasdaq 5,000. biggest market cap name from back then that still now bringing us there is microsoft. ymicrosoft. >> yes. liz: is there anything you did to make sure the bubble burst didn't happen again? >> i would say it's a natural consequence of the macro economic forces that gets us back to 5,000. i don't want to take any particular credit. and the positive news here, you've seen really the new economy become a dominant part of the overall economy. back 15 years ago, we talked about the new economy, there was this dichotomy to the old economy. that doesn't exist. we have one integrated economy. it's written by technology and innovation. >> do you remember web band? >> they were a grocery store delivery service that was too early for their time. we have that now. fresh direct. amazon groceries. >> oh, yeah. a lot of situations like that where they were too early. in business, you have to be not too late, but also can be penalized for being too early. >> it's almost just as bad. >> no doubt about it

the nasdaq now a little more than 1% below the peak it hit during the dot com bubble, and the nasdaq n track to raise for the ninth straight quarter. hewlett-packard is expanding part of its business, agreeing to a cash purchase of a company that makes wireless network infrastructure used by hotels, universities, and shopping malls. it is h.p.'s biggest acquisition in years, and they plan to split it. one will focus on corporate customers. boston scientific is expanding its men's health business buying a urology portfolio at a price of about $1.6 billion. boston scientific will also have treatments for other conditions and are still considering treatments for women. a takeover in the medical health industry, almost a $2 billion deal with cardiology and endo- vascular devices, and shares of cardinal health hit a record high last week, up 23% in the last year. tens of thousands of russians march through the capital honoring the death of the opponent of vladimir putin who was gunned down the 11th high-profile killing since mr. putin took office. the kremlin is promising a vigorous invest

. ♪ >>> a historic day for the nasdaq and climbing above 5,000 for the first time in 15 years.e're covering every angle throughout this year. fast money and live from the heart of the action and over looking new york city's time kwar and the traders are here. we will hear from managing partners and the ceo on the tech areas that he is looking to get into right now. plus the top plays to own according to the charts. is not all gains for the nasdaq. gopro tanking and the details on those stories straight ahead. a history making day and crossing 5,000 since the first time of 2000 and closing that day. as we hover near the record highs, what names can be buy right now? what do you say? >> well, the names are what we're talking about right now when the heaviest waiting, and i think that you would want to throw in apple and intel still fits. there are plenty of tech names that still fit, and the reason that i saw that is when you look at the evaluation, all fair. but, when you look at some of the balance sheets and the over sea money, eventually we're going to have the folks in washi

melissa: march coming in like a lion as the nasdaq roars to 5000. touching that milestone for the first time in 15 years. it is not just the tech heavyweight and the dow and russell hit new highs as well. s&p also inching towards another record close. with me charlie gasparino jack hough of "barron's," dan hen men gear of "wall street journal." what do you make of markets today? >> the nasdaq, it is interesting, it was thinly traded. there is a little bit of action in deals. not as though they're going nuts over there at nasdaq. melissa: we're back after 15 years, come on! that is the best you can do dan? i'm moving past you. jack, what do you think? >> nowhere near the inflation adjusted peak first of all. second of all, you look at companies that dominate the nasdaq you have got your apple and intel and microsoft, nothing really stands out to me as shockingly expensive but a couple -- melissa: do you need to take the call, charlie? is that important? is it okay if you do television and ignore that. >> it is veronica vain. melissa: we'll get to vero

the nasdaq up by nearly 1%. s&p by a little more than that percentagewise and the russell 2000, small caps currently up very nicely indeed. flipped over the board to show you what's happening with the etfs, mirroring those indices. the dia, tracking the dow, the qs track the nasdaq spy tracks the 500 and the iwm following the russell. >> and a big step today to tell you about in the fight against alzheimer's disease. call your attention to one stock. those would be the shares of biojin right now up 7%. up 30% in the past three months at all-time highs now after releasing very encouraging data on an experimental alzheimer's drug. telling us about it at this time yesterday and she's now back with more detail. hi, meg. >> hi tyler. incredibly high expectations for this drug leading into today and analysts say biogin met and exceeded them. shocking investors saying the medicine appeared to slow the cognitive declines associated with alzheimer's and today how well the drug appeared to work both on memory loss and clea

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coming up next, the nasdaq soap opera in one chart. you've got to see it. n "options action" returns. hey mom, you want to live by the lake, right? yeah. there's here. ♪ did you just share a listing with me? look at this one. it's got a great view of the lake. it's really nice mom. ♪ your dad would've loved this place. you're not just looking for a house. you're looking for a place for your life to happen. zillow >>> with the nasdaq hitting 5 k >>> with the nasdaq hitting 5 k earlier this week, everyone is talking about bubbles. but carter has the chart that tells the real story. >> that's tongue and cheek. this is from advisers, a classic kind of thing. down here, you know, 1996, i think i better go to the store and buy me an internet. people have no idea what's going on. and my neighbors are making money but i'm still not involved. i can't stand this. what do i do. and all of a sudden i'm all in, baby. just, of course, before the crisis hits. and then here, people say i better double down and then here hide statements from my spouse. and then here, of cour

the nasdaq down a point. s&p down 2. 're back with more of this short break. >>> a big market day. welcome to worldwide exchange. >> the federally fizzles. u. s. futures point to a lower open after a late rally on wall street yesterday but european markets push higher with the ftse 100 hitting a fresh record high. >> the dollar fights back after the biggest daily fall in 18 months yesterday. today's move puts oil back on the slide with wti hovering around $43. >> target agrees to a $10 million settlement for last year's credit card breach. this amid reports the retail giant is following in wall street's footsteps with a minimum wage hike. >> the sec paves the way for bank of america shareholders to vote on a spin off of its invest lt bank but the lender stands against the plan. >>> if you're just tuning in thank you for joining us here on worldwide exchange. here's how markets are fairing ahead of the open. futures indicating a lower open. the fed removing the word patient from its statement but sounding a dovish tone tha

it was interesting are the things happening pre-nasdaq what's happening in the private markets with theseon-dollar valuations and nominally pre-ipo companies. in some sense, that skews what we seek from nasdaq. that would radically change our perspective. cory: i think what we care about is not the knuckleheads trying to trade d.c. cmp, but what does it mean for economic activity? what does it mean for the value of my house in the way area, which is inflated takes to all of those private company valuations. when you look at some other things like rise to book value, it starts to reflect what you are suggesting, that we are not looking at the leaders of the nasdaq being hyped up tech stocks like worldcom and you name it from back in the day. book value is pre-for these companies on the nasdaq which is probably a good thing. >> on a relative basis to the s&p, it's very much in line with the expectations people would have to allocating that part of their portfolio. i do think the value of your house does reflect more of paul's concern. the massive amount of financing that was done late in 20

coming up next, the nasdaq soap opera in one chart. you've got to see it. at's when "options action" returns. what's that thing? i moved our old security system out here to see if it could monitor the front yard. why don't you switch to xfinity home? i get live video monitoring and 24/7 professional monitoring that i can arm and disarm from anywhere. hear ye! the awkward teenage one has arrived!!!! don't be old fashioned. xfinity customers add xfinity home for $29.95 a month for 12 months. plus for a limited time, get a free security camera call 1800 xfinity or visit comcast.com/xfinityhome. >>> with the nasdaq hitting 5 k earlier this week, everyone is talking about bubbles. but carter has the chart that tells the real story. >> that's tongue and cheek. this is from advisers, a classic kind of thing. down here, you know, 1996, i think i better go to the store and buy me an internet. people have no idea what's going on. and my neighbors are making money but i'm still not involved. i can't stand this. what do i do. and all of a sudden i'm all in, baby. just,

may turn negative and the nasdaq is down 8.5 points. me on the floor is jeremy hill and anthony chan. i don't think we've spoken since the fed meeting. they took patient out of the statement as you predicted they would early on but they also lowered their expectations for growth on the economy. have you? others have. >> i think everybody has because the first quarter obviously had some real severe weather impacts. today we got the federal reserve national activities index, and what you see is the impact of the weather. i love that indicator. it's a summary of 85 economic indicators and it's telling you the economy lost a little momentum. that's the same thing that happened last year in the first quarter. i expect it to come back in the second half of the year. >> we get earnings starting next week and the expectations are very low or those earnings reports in part because of weather, the stronger dollar but yet we sit near all-time highs in major averages for the stock market. >> it's not all bad news. if we look at what's out there, we'

the dow -- there's the nasdaq off 62. oints lower or thereabouts. over to you, brian. >> mandy and tyler and kate. thank you very much. it is 2:00 in morning. 11:00 a.m. in san diego. welcome to the second hour of power lunch. i'm brian sullivan. meltsa lee at the nasdaq. we've got stock picks galore coming up for you in this program. believe me, and maybe you can get them at a discount because stocks are selling off. the dow is down 256 points right now. let us go to bob pasani on the florida of the new york stock exchange where another day is in the red. >> it's been a lousy month of march. i think we haven't put together two up days in quite a while. the important thing about today, we had two legs down. take a look at the s&p 500. sectors to the down side some of the high beta names have been notably week. financials are weak as we've had lower rates today. generally rates have been moving to the up side. material is a little weak on the strong dollar. discretionary, some of the home builders to the down side. we have

the nasdaq is near its dot-com bubble high. it topped the 5,000 level for the first time since march of 2000. it took 15 years to get back to here. it is 2.4% from peak. three times has it closed above 5,000. should you be concerned another tech bubble is here? not so fast. it is different from the dot-com era. many companies leading the charge today are well established and cash on hand. they earn something. apple has more than $175 billion in cash. the nasdaq actually late to the record game. the dow and s&p have been demolishing records for almost two years. the dow climbed 157 points to a record high yesterday. >>> happening now, a major battle to take back a key city from isis in iraq. why the fight for tikrit could be crucial. we have the latest next. >>> there is a bloody struggle for control of tikrit. iraq's military is staging a major offensive to retake it. they are getting an assist from iran. cnn's ian lee is tracking the latest from cairo this morning. good morning, ian. >> reporter: good morning, christine. we may

the nasdaq giving up 55. time in 15 years, today we've retreated. we close at 4927. here today to talk about all of it wrap things up for us and talk about what happens next our panel. eric chem mi is here from cnbc.com. cnbc contributor and invest net head czarzachary karabell and robert frank and also with the news of apple joining the dow jones industrial average, we have our "fast money" trader tim seymour and jim burnham. john, a big shareholder of apple. one of the few stocks that went higher. it will replace at that time&t in the dow. what does it mean to you, john, as a shareholder? >> all i can say is i think it's about time that apple came in the dow. it's the world's biggest company today, and i think it's a great thing. i don't know how much it actually means to apple. i think it would be a biggser deal if it were joining the s&p which it's already in. it means some people need to buy the stock who need to own dow jones stocks. i don't think it means much to apple except it's the biggest company i

>>> stocks moving lower, certainly the nasdaq is. coombs soon you'll have to share apple with the big board. >> nine months after its 4 for 1 stock split, apple becomes the new dow baby. it's not something that is unprecedented, certainly. not unexpected especially after apple started issuing regular dividends. i what's interesting is that with apple coming in visa splitting on the same day, it does help boost the tech weighting within the dow. but if you take a look at some of the other nasdaq stocks that have been added to the dow, you had microsoft and intel in '99, cnbc co cisco in '99, that marked their peaks, it's interesting to see whether apple can break that circuit. meantime, other nasdaq stocks on the move today. finisra, the network equipment maker, better than expected revenues. staples, a miss and a warn for the year. and nasdaq 5000 guys month was the last time we saw that. >> just 45 minutes those levels. thanks so much. >>> coming up -- the first round of stress tests in the books. what's next for financials? we'll h

and the nasdaq gained more than 288%. the radar this morning two swiss aviation pioneers begun what could be the first around the world trip in a solar

the tech heavy nasdaq 4984. he nasdaq has been a great performer. take a look at some other movers. visa all-time high today. customers know they have been ending their deal with american express. you can see up there rose across the board pair. weight watchers hit a new low last week. ♪ and drive forward with broader possibilities. cme group: how the world advances. stuart: more than a dozen upstate towns are threatening to try to succeed from new york state and become part of pennsylvania. liz, this is unpopular in parts of new york state. i know for a fact because i have a pretty in those areas. >> i know the southern tier which borders pennsylvania. they have no jobs. it is a desolate area. they are seeing luxury cars, suvs better cars and houses. 3.2%. they are saying we should eat part of an sylvania. those are anti-fracking protesters. people that want to close it down. >> yes. that is right. what the governor of new york is saying we will give $50 million for clean energy. it is not the way to go. that is