but the big news is that u.s. navy p-8, this anti-submarine hunting plane that is so technologically advanced is over the immediate area. right now, they're not seeing any signs of the debris that you saw in these new satellite images that we've been showing you. two pieces of debris. one almost 80 feet in width. matt taylor is asia pacific reporter for cnbc. he is in sydney, australia, where this announcement was first made and i think it is worth going back and letting folks know what we know, what was announced by australian officials earlier. >> right, chris. well, we first got word out of this from our prime minister tony abbott who is speaking in parliament about four hours ago on the east coast of australia where he said that authorities had uncovered these two objects. as you point out, we have in the last few minutes seen those satellite images. he said the information was new and credible and that resources would be deployed to that part of the indian ocean to take a closer look. now, you might recall that earl

so the changes to p zoned districts there are two parts. the first one is changes that directly effect the sf plaza program and the second part are changes that impact all p zone properties. so the changes that about the sf plaza program first to reiterate the admin code rec and park department are clued from the 70 program but the change in the code is for the sf planning codes code is under section 2, 3, 4.1 in the proposed ordinance and that one specifically allows for any assessor use in a plaza designated under the plaza program to be principlely permitted so regardless of commercial district and the department feels this needs to be strengthened so the assessor controls are controlled by an adjacent non-residential district. so that's basically the only change for the code in the sf plaza program. the amendments to 9 p district they apply to all p zone properties whether or not it's a park or has a police station, etc. those changes apply. it really optional modifies the temporary controls for the p zone it has other go modifications b

>> it's more likely the 3 8 will see something that the p 3 can't. he best technology to see on the surface of the ocean are on board that p-8. the p 3s with less technology still have incredible ability to see and so you have the 3 3 two of those airborne in the area heading from the militaries of both australia and new zealand and the p 8 which is a u.s. aircraft all coming out of perth in australia. let me take you on the map down to the area we're talking about. they flying out of perth and they're making their way here to the target area. initially, the national transportation safety board had an area about 370,000 square miles. then they said you know what? in the last 36 hours, we're going to make that area a little bit smaller and they made it around 117,000 square miles. it's just down here where that satellite image suggested that there were two pieces of debris. so flying out of perth, the aircraft had made their way down to that area just south of the target area to see whether they can get confirmation of what those satellite images sugge

jim glickenhaus custom designed the car using the ferrari p 3/4 series as inspiration. >> ferraris toe were always the most beautiful, fastest cars. >> love it! >> you are getting a lot of looks from this car. >> i am sure there are at least four shots of us on the internet already. >> today we are driving the original custom ferrari, which is still blindingly fast. it accelerates from 0-60 in just three seconds and can reach top speeds of 233 miles an hour. >> to get one of these out on the highway, and you get a really slow driver in front of you, does it drive you crazy? what is it like driving such an amazing car on such pedestrian, regular roads? >> there are places that you could use them. in italy there is such a love of these cars. shall we say, they are a little more "tolerant" of you exercising the cars perhaps in the manner they were once driven. >> do you like to drive? >> it is just an experience for me, especially with my work, where i can be in sort of a different zone and not staring at a computer screen or having 12 people yelling at me. i enjoy it. >> how does jim af

one thick i'd like to talk about part of the problem you have is p zoning it means public it's from the city hall from the plazas like plaza it's universities and schools basically anything this is for public use. it's hard to draw a set of controls for the use when it's got to cover all kinds of different uses some are open space uses and buildings that are owned by public entities we might want to distinguish between open space uses and other public buildings that will allow you to do a set of planning controls that makes sense. parks and plazas and on the other hand the parks and use. other cities make the distinction. mostly we have mission bay that has it's on open space and park merced and ti do it's useful we've created the designation 3 times. you might want to look at as you're doing the planning code changes amended our zoning map to create the distinction. if you did that you could krauft the right controls for the two very different sets. thank you >> thank you. next speaker. >> patricia. this legislation disturbs me by the word stewardship and nonprofit. are we going to get

the s&p down 57. that's the nasdaq, rather. down 57. s&p down 17. transports down almost 100, and the yield on the ten-year moving sharply lower, 2.66%. we're back in two. here at fidelity, we give you the most free research reports, customizable charts, powerful screening tools, and guaranteed one-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and e-trade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. call or click to open your fidelity account today. which will cause me to miss the end of the game. the x1 entertainment operating system lets your watch live tv anywhere. can i watch it in butterfly valley? sure. can i watch it in glimmering lake? yep. here, too. what about the dark castle? you call that defense?! come on! [ female announcer ] watch live tv anywhere. the x1 entertainment operating system, only from xfinity. >>> welcome back to "pow

those are where the p-8s and p-3s are going. the u.s. sends its p-8 out there. it looks and looks in the target area for four hours. it's now flying back. it does not see anything that confirms there is any type of degree there. at the same time, a p-3 goes out from the australian military. looks and he doesn't see anything and has additional problems because of the technology they are using with the weather. the u.s. doesn't really sort of have that problem but they don't see anything and now that aircraft is returning. i don't know the status of the p-3 from the new zealand navy. in addition to that, there is a c-130, a hercules, it flies low, slow, it's ugly, but what its goal is to get into the area where, hopefully, there is this debris and it can drop down drop sounders that mark the area so they don't lose the area. at the same time, there is a naval vessel from the australian vessel steaming there but it's slow and it will take days to get there. they are on the radio contact with a cargo ship that's in the area and they have requested the cargo ship to d

>> good afternoon david i came here to speak about the t t p with regard to the issue of when public comment is taken not specific to the t b but in general to the certification of on eir i believe astronomy that the question of adapting a motion to certificate on either as to its adequate and obviously activity is a new questions before the question was not specifically the subject of draft eir should be heard when this item comes up regardless in the staff has additional information to provide and the note on the agenda i believe runs afoul of the sunshine ordinance how public comment is taken although you've modified it today you need to look at that on the question of public comment on certification of a final eir that's subjectly different from substantiate comments. that's the first item. the second item is since i'm not down here often i don't know when you had a discussion with the code department i know it would be good to have a public hearing the code enforcement group and their activity both high profile like the academy of art and workload and code enforcement is an impo

all ten sectors of the s&p are up this week. ce of broad market sell-offs, or despite what happened in biotech, even the leadership groups are holding up. financials have had a fabulous week. the kpw index is up 4%. techs had a great week. still there. rallies still in tact. >> thank you very much, bob pisani. always good to have a voice of reason, explaining what's going on in these markets. anyway, it does seem that the sharks are circling around red lobster. its parent company reported earnings this morning that matched lowered estimates, but red lobster is really the company's worst performing change and darden shares are down almost 7% this year, but our next guest says darden is still a buy. he's got a 57% price target on darden. and we should probably address this whole thing about the sharks circling. there are a couple of activist investors that would like to see, let's say, a little bit of action taken and a faster pace. what do you think is going to happen with the red lobster business? >> i know some of the sharks out

and i truly believe that the p-3s are the only way to make it happen. so i just don't think it's adequate. the other thing i believe the prime minister should do is call the president and say, would you please send me a complete ntsb go-team. that's what president mubarak did in 1989 when they lost a plane in the atlantic. it would cause them a lot less grief. the families are accusing the malasian government of having a coverup. if he could release a go team that would cover a lot of problems. >> it seems that everyone is trying to find the aircraft. are you suggesting the malaysiaians have mishandled the investigations at this point? >> i just think they've never -- first of all this whole investigation is somewhat unprecedented. and they just never have done anything like this. that's why you need people that do it all the time. i used to be with the safety board as you o know. >> yes, yes. >> they know how to do these investigations, this would have been a challenge for them, tony. i guess the analogy would be they are playing in the super bowl and

not only has the u.s. p just landed in australia, ending the search for the day, there will be no search with the p-8 tomorrow. joining me on the phone is commander william marx, spo spokesman for the fleet in the philippines. good to talk to youering commander. thanks very much for joining us. tell us first about the decision not to send the p-8 tomorrow. >> well, it's actually a fairly routine standard operating process. it's plan maintenance. we watch the fatigue levels of our pilots and our air crew very carefully. along with the planes. so you can't keep a human being up for 24 hours, continuously. you can't operate an aircraft continuously. and that's not just the u.s. navy. that's pretty much universal around the world in all military, so we do watch these levels very carefully. and the most important thing for us is to make sure the people and aircraft are both operating in a safe manner. >> so what should we expect? >> tomorrow will be a no-fly day for the p-8. however, i should let you know, the p-

the search. what can you tell us about it, and will you then keep two p 8s in the search as well? >> we are sending another p 8 poseidon, our most advanced patrol aircraft. we're sending it from its foredeployed location in okinawa, japan, down to perth, australia. that will give us two of our p 8 poe si poseidons down there along with an international contingent of partners, china, south korea, japan, australia. a great effort by a lot of countries down there. but yes, we are taking a second p 8 and moving it into perth to give us essentially an everyday presence if needed by the australians. so as you know, it's a long distance way down to the search area. it really stretches the legs of the p 8 and really the p 8 is the best plane available in the world for this kind of thing. it pushes its limits. we're talking a very challenging environment. but the key is -- and this is why we still need to fly over this area. we still do not have a really good point for this debris. that's why we've got to keep flying out here. >> when you say you don't have a really good point for the debri

the p-8 turned back after hours of searching, having found nothing, the petersburg was diverted and reached the area, and a daily briefing was held in kuala lumpur. officials confirmed what they are calling a credible lead and cause for hope. >> every effort is being made to collect the image seen. these sitings, while credible, are still to be confirmed. >> many family members watched that news conference together in a beijing hotel, even as a makeshift medical center was, with increases concerns about the stress of this excruciating wait taking a heavy toll. kerry sanders has been following this throughout the night. so, kerry, as we're quick -- and finding it from a surveillance plane are two very different things, get us up to speed on the latest. there was a general confidence that somehow was spotted on the satellite pictures the wo pieces would be found rather easily by the p-8 and p-3 aircraft. that does not prove to be the case. first of all, this is the general target area here where they are looking, so they're flying out of the perth. as we go to the next map, you can see the ar

, the s&p should have kept going. should not be giving you a chance to get in around unchanged on the year again. and i think -- forget about all the geopolitical stuff maybe you want guys want to blame it on that. i think the price action is dictating where you're going to have a day where there's no gee oh political reason and all of a sudden the market is going to start going down. and that will start something that, you know, that -- i'm not suggesting the market's going down 40% or 50%. >> i understand. >> i'm not gloom and doom. >> understood. we'll look for that and see how it materializes. i can't tell you how much i appreciate you calling into the show today. it's good to welcome you here and good to welcome you to cnbc. >> thank you very much. >> larry altman. >>> still ahead, another day, another hot ipo. castlelight making its debut on the new york stock exchange today with a $1 billion valuation. there's just one problem, though. the company's not profitable. is it froth or fair value? our traders weigh i

, index fund that tracks the s & p, or 10% in bonds. ld be 60/40, stocks, bonds. why 90/10? >> because, the stocks are going to do better than bonds. and, over time. now, if you are bothered by price fluctuations, then maybe you shouldn't own those stocks. i mean if you are the type, that goes into stocks and then, if they're down 20%, it ruins your life in some way and you are going to sell them, you are just not, you are not, psychologically equipped to own stocks. but, there really is practically no risk in owning a diversified group of stocks if you've hold them for a long period of time. there is all kind of risk if you want to hold them for next week. nobody knows what next week will bring. >> as you get close tire retirement does it make sense to put more holdings not bonds? >> hard to tell abut retiout ret if people retire at 65 they have expectable life span for 20 years. in my own case, my wife will be, 70 or older when i die. and -- and she will have 90% in an s & p 500 no load fund with very low costs. and keep 10% in governm

well, the s&p hitting a new intraday high today. it was a record. we're just below that record high right now. the dow is having a pretty decent day as well. the nasdaq, not so much. there's the s&p up 5.25% on the trading session. the dow is up about 72. and the nasdaq, it's down by about 11 points. shelia come ranlgian's at nasdaq. bob pisani first with the upside for the big cap stocks. >> the good news the the s&p hit an intraday high today. the bad news is, it's kind of off of those highs. we need 1878 to close at a new high. we're sitting right on the line. ipo day, big ones down here. a-10 networks make software, opened finally around $16. priced at $15. there was a little bit of a delay because they had to file an amended s-1. they did eventually open. and amber road, a cloud-based management software company, priced at $13 and you can see here, opening rather strongly and holding up there at $17. also want to note, among some of the emerging market countries, strong day. look at china, up 3.8%. the securities regular regulator on preferred s

the s&p 500 7.5%. oint about how this was almost a crash up, you could he cexten that not just to the action today but what's happened over the past month. >> it's very interesting. i guess the russell is one way people are looking to play the long side here. perhaps they see it as less risk because year dealing with small stocks and it's a nice way to stay centered. >> u.s. focused as well. >> exactly, exactly. so i think he was onto something there, but i think people will be looking for lots of ways to ride out the volatility whether it's that or the vix. >> fascinating day. thank you. the president unveiling his 2015 budget proposal. it always for eliminating some tax breaks for upper income americans. steve liesman sat down exclusively with the head of the office of management and budget just a few minutes ago. steve, what did you learn? >> yeah, kelly, interesting conversation i had with sylvia burwell who spent time in the clinton treasury, the clinton white house, went to the bill and melinda ga

-- s&p 500 financials versus the s&p 500, continues to hold. >> all right. >> i'll stay there. >> josh brown, last word in this discussion. button it all up. >> in your note at the end of february what i thought was f fascinating, it's not just the s&p. you looked at basically the msci all country world index and you looked at that versus the advance/decline globally and you saw strength coming from almost everywhere with a large number of issues participating. could you just speak to that briefly? >> sure. i like looking at that. one reason why there's a lot more investors out there starting to use the aqki as their benchmark. second reason, it is a very broad based -- >> it's the all country world index, right? >> correct. all country world index. >> i want people to know what i'm talking about. never heard acwi on this show before. >> acwi, i use the one that includes emerging markets by the way. even includes emerging markets, the advance/decline line for the acwi did break out and confirm that last rally. if you just looked at develop, chances is the ad line would be stronger. eme

and tom's idea of looking at the p zoning and trying to make further divisions is in order. frankly i don't know what the all p zoning legislation says but if indeed it makes sense to do that i'll encourage you to expand this a little bit. in terms of the actual program. i guess one thing is that i kind of did pass over it says a activation or a ordinance if you read what's up on the screen it says activation or a maintenance. so i'm concerned the statement made by staff was that if there's monies that come into the stewardship program the steward is able to raise money and that goes into activation there has to be a maintenance clausz in there. tom is a shaking his head yes. we want to think about whether or not there is access monies that should flow into the program or another count of the plaza where excessive monies can be held i don't know legally if that can be done or not since it's city properties in terms of the program in the stewardship i'm a little bit confused. if there are a plaza mr. rich and i have a nonprofit i don't care specifically in order to be a stewar

the s&p is trying its record close again for the week once again.the dow needs a gain of a little better than 150 points to close at a new high. that doesn't look possible. but the s&p doing very well despite an escalation of sorts between russia and ukraine. >> while we know march 9th was the closing low for the s&p, it was today we hit that intra-low of 666. it is in a book of record here along with other bits and bobs. meanwhile, for bitcoin, bankruptcy hacking and an apparent suicide. we're tallying up the many headlines and problems to figure out what it means for the future of this virtual currency and others like it. >> also, an çunlikely championf boosting the minimum wage. it's conservative multimillionaire ron unz. he wants to raise it all the way to $12 an hour. what's really interesting are his reasons why. ron will join us exclusively. you do not want to pass judgment on his idea until you hear him make his case. coming up here on "the closing bell" today. >> now, here's where we stand in the market for the final hour of trade. the dow

flat for the dow, the s&p down marginal marginally, the s&p down another 22 points. what have we done year-to-date? the dow so far now down 1.8%. the s&p is on that flat line. if it had an halts at 1849, that will be fairley key. the nasdaq down now 0.6% for the quarter. now, there are some big momentum stocks to the down side, as well. let's look at some of those. netflix this month, down 18%. tesla down 15.3% and zynga this month down 111.6%. those are the standout stocks on the down side. as far as europe is concerned this morning, we've got to move higher. this is where we stand with the ftse 100. up 36 points, 0.5% higher. we've got current account deficit coming out today and the latest trends on gdp for the fourth quarter, the last revision. xetra dax up 0.7%. the cac 40 is up 0.3% and the ftse mib is up 0.8%. we continue to keep our eyes on the flattening trend as far as the u.s. treasuries are concerned. economic growth yesterday, ticked higher in that last revision. 2.4% in the previous quarter or 2.4% in the previous estimate. 30-year, 3.5% is the yield. th

we are trading 16 times board earnings for the s&p 500. historically, for the past five years, we are trading at 13, 13.5, we are high. it's by no means a bubble. but it is priced for perfection. so if there are any disappointment, we could see a consideration. >> megan, i worry at this point because if people have been sitting out, are they buying at the high surface. >> they are probably buying at the upper end of okay, if there is such a technical term as okay. when we look, erin was saying you take a look at what people are paying for a dollar's worth of profit or the price earnings ratio of the stock, almost every part of the market, lashlg cap value, large cap graet, mid-term cap and growth, they are trading above their historical pes with one exception, large cap growth. i like etfs. all right. so i would say ivw would be a great way to go get large cap growth. it is trading about 87% of the historical pe. it's the only sector when you look at any kind of a chart they still sell at a discount. otherwise, we are still selling at fair

earlier, unconfirmed reports of russian military intervention in the region sent the s&p lower. the whole episode underscoring just how sensitive the market is to this situation. the question now is, if the situation gets worse, what could that mean for stocks, could russia be the next black swan? we did see people during this session wanting to take risk off in response to various reports that crossed the screen. >> risk off, other than u.s. equities. when you think about it, you talked about it just before, it was at five-year lows. it's a very cheap index, but it trades very poorly, there are risks that have been taken off there all along during this thing. and then bonds again. u.s. treasuries, the world forgot during the taper, there's one safe haven in assets and it's u.s. treasuries. they've been well bid. >> mike? >> we have to remember that we still are obviously basically right on all-time highs in the s&p and although the vix has bumped up from its low, it's still a relatively low number, it didn't close as if it saw a disaster on the horizon. i think it probably would

the s&p up 0.6%. erasing the losses that we saw on the back of yellen on wednesday and the nasdaq up by 0.3%. remember, we get kwaul quadruple witching later today. we may see more volatility into the close. european markets look like this. we're seeing some green arrows across the board. ftse 100 up by 0.3%. the xetra dax, germany and ftse mib up by around 0.3%. so certainly more trading with a positive buy. there is caution in the market as the west is ramping up sanctions against russia and we're wary of any tit for tat action coming from russia. let's get back to earnings. nike's earnings beat with futures orders, but its shares seem to be under pressure in extended trade. cnbc's sara eisens tells us what its earnings implies for the global economy. >> a strong quarter for nike as sales dumped 13% beating the street's estimates. what do the consumer giant's earnings tell us about global spending is in the? in the united states, nike's most important market sales jumped 12%. western europe coming ou

the p-8 is the very latest in our technology.it's a significant upgrade over the p-8 and it's the most advanced type of the plane in the world right now. it's 20% faster and can fly at 500 knots compared to 420 for the p-3. it gives you more search time. and in terms of the radar coverage and software technology, simply a huge leap into the next generation. i have flown on a p-8 recently. it's better communication, software, overall a world class airplane that will help out. >> as you know, commander, the flight data recorder, the voice recorder has a life span -- they emit some pings for 30 days. so maybe 20 days left or so. what are you doing, what can you do to see if you can hear any of those pings given the depth of the indian ocean, for example, nearly 13,000 feet. >> the black box still remains a mystery and where will it be if anyone even finds it. the indian ocean is an extremely deep body of water. so if it is submerged, who knows about that. if it is on the surface, a lot of aircraft, not just the u.s., but many can pi

cliffs moving out of the s&p. ill be replaced, effective the close of business, april 1st, by essex property trust. back over to you. >> april fool's day reshuffle. >>> coming up, not just gm hitting the recall switch. nissan now recalling over 1 million vehicles. all the details on that one after the break. plus, why the best stocks to find growth potential may not be the most obvious ones. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: ranked highest in investor satisfaction with self-directed services by j.d. power and associates. [ chainsaw whirring ] humans -- sometimes life trips us up. sometimes we trip ourselves up. and although the mistakes may seem to just keep coming at you, so do the solutio

we have seen the s&p and the nasdaq in the green for the year 2014.a look at some of the retailers in focus right now. sales have been falling lower-than-expected results in the latest quarter. tough competition, e-commerce. that is another factor. cost go saw profits fall 15%. they did have lower international profits for foreign exchange rates, radioshack, a name we followed so closely hit a new low, $2. i wanted to pull up the 10-year chart. back in 2007 this was a $35 stock. 2010 it was $24, so it is not 35 but still 24. today $2. it really shows you and puts together a chart to show you how frustrated the shareholders really look. cheryl: we will see you in just a little bit. waiting for the big monthly report coming out tomorrow morning. so far the stocks have jumped around to various readings on the labor market. the disappointing adp private sector job growth number sent stocks lower in yesterday's trading, but then today a different picture. s&p 500 hitting an intraday record on jobless claims. which direction will the pendulum swing tomorrow

the s&p 15. the nasdaq 45 now.hat you the markets need to do to finish the quarters to the upside next. one index looks like it will be sitting out of this one. >>> also later a new study shows diet drinks linked to heart problems in women. this as news for the soda wiss could not be much worse. we'll have the latest details you need to know about, that very important story coming up. stay tuned. stay tuned. i have low testosterone. there, i said it. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some blood tests. showed it was low t. that's it. it was a number -- not just me. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. the #1 prescribed topical testosterone replacement therapy, increases testosterone when used daily. women and children should avoid contact with applicat

the s&p is saying one thing. but if you look at bonds and gold, it's saying something different. e market isn't democrat. i'm shocked that the vix was only down a dime today. it tells you people don't want to have a lot of risk over the weekend. and they're fine owning the s&p here only if they can have some protection. >> if you take a look at germany for instance, it was down 3.5% on the week and eu is russia's largest trading partner. >> yeah, but you know the notion that u.s. would somehow decouple from a big event, history doesn't prove to be the case. scott makes a good point about the vix and gold. you know, bonds got murdered, though, towards the end of the week. i would say rates going up here, people feel pretty good here. i think, you know, the deeper we get into the tapper, at some point, something could give. >> if we move to more of a risk environment, that will be bad for equities everywhere. but don't think that equities are a safe haven if we start to see a risk. >>> the sector that did well this week, bonds. >> people are focused on that. how are these companies.

. >> when the u.s. navy's p-3 orion plane is airborne again, it will fly near the cocos islands, they're not searching for pinging devices but instead they will use equipment that can see pieces the size of a basketball. the spokesperson said the images seen may have been cargo containers that fell off a ship. the search has cost the military $2.5 million so far. and an official said they only set aside just $4 million for the mission. in a phone call between u.s. defense secretary chuck hagel and his malaysian counterpart, this morning the malaysians asked for high tech surveillance equipment, a type of sonar, sean. >> just to clarify it was about 125,000 square miles that we're talking about? the search area? >> that is the search area that the u.s. planes have been flying since this first started. >> all right, jennifer griffin, appreciate you joining us. now on the phone is the commander, william marks is with us, one of the americans helping to search for the aircraft. and he is also with us. we're going to

-3, one of the four p-3's that are on task, or from the imagery. i've flown over the ocean a lot. i've been on two boards of inquiry. the orion pilot has a hugely long trek out to the search area. then they'll be flying 200 feet. they're going to have the speed of about 250 knots. if the cloud base is low in that area, that will hinder and scupper the search and rescue -- not the search and rescue, but the identification of debris effort if you like. >> we've been talking about this plane disappearance for 12 days. >> we have. >> and your tone has remained steady and it is this early morning here on the east coast. you don't sound convinced at all. >> well, you know, shep, as i said to you before, i've got 3,500 flying hours. i've been a casualty pilot, search and rescue pilot. i've been trained in all the tactics. i had to understand radar because when i was operating around the world in hostile environment, that's what i used to avoid detection from enemy radar. so i have a good sense of a lot of the subjects we're talking about. i've always been

plane that was diverted to the area, the p-8. is there significance to the type of plane that is being diverted? is it a larger plane that's headed out now to take a look? >> reporter: it's a larger plane than the workhorse p-3s, which are being used by the u.s., the australians and the new zealanders, and it's also got a lot of sophisticated surveillance and imaging equipment inside, so that is obviously going to help to actually locate this debris. they've also been able to look at drift models. so, the chinese saw where this debris was, they radioed in the coordinates. the model then, the numbers are then fed into a model which calculates drift, and that information will be able to be, obviously, used by the p-8, by the onboard equipment of the p-8 to help in that search. but as i just said, deb, they are out there, they are on target now, and they're still not finding anything. remember, these planes are not all going out together. they need as many eyeballs for as long as they can on the site, so the p-8 is the closest at the

if china is a bigger risk why the s&p is flat. >> the dax and s&p have been closely correlated since those lows. watch the dax and watch the s&p and what they're doing together. >>> in addition to the uncertainty, russia, ukraine, new economic data from china today, injecting a dose of fear into the markets. money to be playmade by playing fear. >> the fundamental problem in china, since the end of 2008, debt has grown $16 million. every year, the burden to essentially issue debt to pay the existing debt is growing. effectively, what we think is going to happen this year is similar to playbook in 2012. slow growth in the first half the government is going to talk about they're not going to stimulate, in the second half they're going to is stimulate and things get better. with china slowing, we think commodity prices are going to come down. we would be shorting joy gloe i, u.s. steel. >> a bit of a tail spin for over a year, really it's an 18-month trend here, would you be shorting it here? to me the risk/reward on shorting cliff here, i also think people make it out to be a sea born p

i think that the s&p's will do as we expect. so if we beat a little bit the s&p's will probably rally. if we miss a little bit the s&p's will sell off. what is interesting is what if we get a really big miss or a really big win? then what's going to happen? does that bring in the federal open market committee into play? the answer iscertainly on a big miss. i don't know so much on a big win. it could be interesting if we get a really big miss in the market rally. >>what have been some of your better plays as the market has soared? >>the plays that have really worked have been the financials. they got absolutely destroyed in the selloff and they have rallied much better than even the techs have off of this. if you look at what's moving the s&p, financials have done really well the last few days. >>thanks for being on the show mark. have a good trading day. >>you too. it's on. president obama is taking steps to impose costs on russia for its responsiblity in the ukrainian crisis. i signed an executive order that authorizes sanction

the s&p low was around 666. -- down around a percent because the yen did strength an little bit on the back of the weak data. the kospi down 1%. the shanghai down 3% on that data. australia is down .9%. the dax is up .20%. and the ftse is up 1%. the start of a brand new week, posted jobs data on friday. what are investors to do? we'll give you a recap of the thoughts we've already had. >>> basically japan has been softs for some time. we think this exposes to yen weakness. the position very lightly held in the markets at the moment. so that combines with the rebound that we're getting in the u.s. data. we think argues very much for dollar/yen moving higher from a trade that's not so much a higher trade as others out there. >>> we are much more comfortable with the impact of policy rates on hold for a long period of time. hence they are switching from one to the other. they are committed to keeping rates on hold as they taper, which means that as the economy recovers, one would expect the longer yields rise in the

>> governor'malley likes to be on the p party line. he echoes with the o obama administration says and j just about everyy policy ise. ththe studies on minimum wage ek at small changes in mimum wage or looooking at aa cap on e rket. peopople will still go to radio city music hall. it is not clear tt you can raisise the minimum wage substatantialllly in mtgomery county and not have some l leake to fairfax county. we cacan count on aum alleley o hold his line and count on you to hold your linine. more when we come ck. stay with us for more. we're back with peter mori and reid epstein and jill aiaito .. jill, i want to turn tyou onon somemething g interesting you we this week heard many times on this show when we a ask people where they shohould be looki to the future in terms o grorowth, they say cybyber security, c cyr security, cyber security. you wrote -- th these cutss coming in mimilitary spendndingo not expect cybyber sececurity bo be the cure for all spending ills. >> i hasas beethe t market to get into. anytime there is a hot mark

the s&p only 2 points. ll, i just got to say for the cost of search and recovery and how important it is to our national -- international transportation system, with not invest in gps tech following for these snashth. >> maybe they will now. it takes something like this for that to happen. goldman sachs warning that stocks with super high growth expect medicatioations may be a your portfolio. seema mody names some names. >>> brick and mortar retailers struggling during this holiday season and after. so why is the mall of america in minnesota, the nation's second largest shopping mall, planning to get much bigger? we'll hear from one of the mall's top executives coming up on "the closing bell." tall the building is, or how ornate the halls are. it doesn't matter if there are granite statues, or big mahogany desks. when working with an investment firm, what's really important is whether the people behind the desks actually stand behind what they say. introducing the schwab accountability guarantee. if you're n

the u.s. p-8 poseidon, moments away from flying into the search zone.ding me, are embedded with the flight crew, but just before we're to board -- >> yeah, i'll be back out in just a second. >> reporter: lieutenant commander adam schantz gets word the flights are grounded. >> shutting it up and packing it up. everybody out there has gone home. >> reporter: eight planes made it to the search site but faced dangerous conditions, severe wind, ice and zero visibility. conditions so tough that even the p-8 poseidon, world's most advanced anti-submarine and anti-surface warfare aircraft, considers it too risky. zero visibility means nothing, not anything out the windows. >> you may not even be able to see the wing tips of the aircraft. >> reporter: i can see it on their faces. can you tell me a little bit about what they're thinking? >> they're disappointed they don't get to go out and do it. >> reporter: do the mission, find a piece of malaysia flight 370. evidence is family so desperately wants. six governments, 11 of the world's most sophisticated planes a

equities are concerned, the s&p and the nasdaq pretty flat. right now, we are called higher by 0.25 points for the s&p, dow is down over 3 points, the nasdaq up 1.5 points. european equities an hour and seven minutes into the trading day, ftse is down 6 points. the xetra dax stronger than expected data out of germany. the cac 40 is down, flat, as is the ftse mib, as well. check in on u.s. treasury yields. after that jump up posted jobs report from 2.73 to 2.82, just coming down a little bit. on the currency markets, not far away from where they were yesterday, remember, we hit that fresh 2 1/2 year high on friday of over 1.39. the u.s./dollar, just over the 103 handle. sterling, 1 .6623. that's where we stand in european trade. li sixuan has the updates out of singapore. >> thank you for that, ross. china markets not able to hold on to their morning gains after the mild drain of 6.3 million from the system. modest gains on the shanghai composite. the shenzhen comp ended flat. elsewhere, cutting its yield on exports, the nikkei 225 still gained

permission to overfly their territory, delaying the search efforts of the p-3. fused to share military radar images with the malays for more than a week because thai officials say the malays never asked. the chinese say they repurposed 21 satellites to help, a claim doubted by several experts. >> the chinese aren't using 21 satellites to cover this one issue. they may not even have 21 satellites that are capable of dealing with this particular issue. >> reporter: the next flight for the p-8 is scheduled for 10:00 p.m. eastern tonight. meanwhile the nearest u.s. navy ship is thousands of miles away and would take days to get there, if order. bret? >> jennifer griffin at the pentagon, jennifer, thank you. >>> president obama speaks out about ukraine as the g-8 turns no a de facto g-7. the fox all stairs weigh in after this. for over a decade millions have raised their hand for the proven relief of the purple pill. and that relief could be in your hand. for many, nexium helps relieve heartburn symptoms from acid reflux disease. find out how you can save at purplepil