ubs.oving on, as you know, it is september 11th, and cantor fitzgerald is holding its annual charity trading day honoring the victims of september 11th in the attacks 12 years ago. mary thompson is there live with a special guest. mary? he looks familiar. >> hey there, scott. he does look familiar, doesn't he? a lot of our audience, of course, know him as the oscar award winning actor jamie foxx. >> how are you? >> thank you so much for joining us today. >> thank you. >> you are here to raise money for big brothers, big sisters. >> yes, i am. >> i just heard you on the phone making your trade. i think raising some money. you were imitating a couple of people, maybe to generate interest? >> well, my thing was, they said we're going to raise some money, i said, i'm going to be jamie foxx and raise money, and mike tyson, boxing champion, or bill cosby, i'm going to give jell-o pudding to everybody to raise money, or i'm going to be president of the united states -- if there's any indication,

ubs deputy chief economist drew matus joins us.at out last week and i promoted you to chief economist at ubs. now i will publicly demote you back to deputy just to clear the air. look, you said it, that ben bernanke should stay to make the transition simple. now that summers is out of the picture, does that really look like more of a possibility to you. >> i think the odds of everything went up, right? yellen we thought would get it at ubs the odds of her getting it have probably gone up. but i think as much as odds for yellen have gone up, the odd for ferguson or another candidate have actually gone up dramatically. part of it is going to be how the president deals with this. let's be clear. he is not going to get his way with summers because of his own party revolting against him. you know, does he then turn around and say, well, i can't have my person but you can't have your person? tracy: right. >> we just don't know how he will respond to that. i think odds of someone like ferguson will go up. odds of candidate no one had hear

. >> la poblaciÓn cercana al volcÁn ub bins, desde el domingo hasta ayer se han producido 6 erupcionesonsal amplia la informaciÓn. >> fue uno de los apagones elÉctricos mÁs graves de los Últimos aÑos, dejÓ el 75% del paÍs sin energia y a mrns de sin venezolanos sin luz mostrando lo dÉbil que es el sistema elÉctrico nacional, caracas fue una de las ciudades mÁs castigadas, colapsando las vÍas de transporte, y obligando a miles de personas teniendo que regresar a pie a sus hogares. >> caminamos como 4 kilÓmetros por llegar a mi casa. >> el gobierno parece desconocer quÉ pasÓ pero una lÍnea de transmisiÓn de 750 mega vatios. >> las investigaciones el presidente nicolÁs maduro denunciaba sabotaje y tenÍa un culpable. >> no tengo ninguna duda que hubo ensayo general de golpe elÉctrico contra el paÍs. >> el sistema elÉctrico estÁ militarizado desde el mes de abril para evitar sabotajes para este experto las razones son otras. >> lo que ocurriÓ una decision irresponsable de operar el sistema en condiciones inseguras. >> es decir, por encima de la capacidad que la infraestructura soporta y por

ubs has a target of $111 a share for the s&p 500.ative multiple on that, we ought to be up around $17.30. four to five percent, i'll take that all day long for the next three months. >> david, you're familiar adviser for merrill dealing with a lot of clients with goals, retail as well as institution. what are the biggest concerns you're hearing right now from clients? >> some of the bigger concerns are about the volatility in the market. the way we we address that is constant communication and having a goals-based approach to keep our clients invested and keep them on track with their goals. >> do you think that these concerns are keeping them from putting money in the market given that we've got uncertainties around the fed and uncertainties around global demand? what are they thinking about? is that stopping them from putting money to work? >> some people it is, some people it's not. it depends on the client, depends on their goal. a lot of people are going to have hesitations in the fixed income market with the fed and the taperin

ubs -- rating remains buy but raised the price target.g rite aide their gross market trends were a positive market trend for walgreens and the sector. rite aid sort of semi lifting all boats which is just if you know the american drug store history, not something you normally say. >> doing very well over the past year. tipco getting a upgrade. >> also a nice target boost from 25 to 32. the stock moved past its old target. tibco reported third-quarter profits beating estimates by six cents. >> today's under the radar pick is fireeye, a new ipo in fact. >> it is. i'm sort of calling this the job and wealth creation by hacking stock? yeah. >> they're a global security on-line company. they combat malware, hacking, other on-line threats, whatever. went public at 20. stock at more than double that at $40.17 over 5 million shares traded in the first new minutes. mill pe tis, california-based fire eye, great stock to go public on talks like a pirate day. >> which was yesterday by the way. extraordinarily busy week for ipos. i think there were se

let's welcome paul richards, head of fx distribution north america at ubs.come back. >> thanks, scott. >> we do expect there will be a taper tomorrow, correct? >> oh, we do. i think the market has nervous with the data. we see some saying 5 billion, and others saying 10, 15 billion, but you have to lower the economic projections. they'll move or they're not. this is a central bank that's credible and run by a credible individual. to my liking, they move tomorrow or do nothing at all. >> the market -- you think the market is getting it right, though? what's going to happen if the fed comes out and let's say it's 15 billion. just for argument's sake, it's 15. will the market like that? is risk going to be on? >> it will be about the composition. i think it will be 15. minimum. and i think that we have 5 billion mbs and 10 of treasuries. so something there. the key is economic projections. the market thinks that 15 will be accompanied by a lowering in the unemployment threshold from 6.5% to 6%, which i do not see. again, for the reasons of credibility. so, ther

your guy at ubs, at least one of them got it right. he didn't expect anything to happen. what does that now mean for where this rally could go? >> thomas burner is the gentleman you're talking about. he deserves a lot of credit. he was on an island with that call. on the one thing, it frustrated investors. a number of investors thought that the fed missed a gigantic opportunity. let's be honest. it creates some uncertainty. on the other hand, it's the fed exerting control. they want to show that they're not going to let the yield curve get away from them. they want to show that they're going to provide support. they're looking at what's happening in washington today. right? they were looking to coat the runway a little more in the event that these fiscal clouds turn into a major storm. they looked at the fiscal tightening around housing. and that was potentially scary. and then they looked at economic data. and so they said the cost of q.e. is not that great. we don't have asset bubbles. we don't have inflation. so why not keep it on? >> we also do want to welcome back gl

bolsillos de consumidores en vísperas de un posible ataque contra siria. precio de la gasolina los uben e cobrar más, entonces todos productos del supermercado tienen que subir. tiene un flacionario". aq el preocupacin de que esa cifraien suba, particularmen te en el sector privado, si un conflicto con siria escala. s/israel ortega/analista 1:25-1:30 "si ellos sienten que hay cosas en el exterior que puedan afectar su negocio, obviamente puede afectar el crecimiento de empleos. para nuestra economa y la comunidad hispana ese tema es muy importante". se espera que el senado vote la prxima semana sobre una resolucin que respaldara la posicin del presidente obama de atacar al rgimen de bashar al-assad. blanca ---hoy fue el ultimo dia como secretaria de seguridad interna de janet napolitano. take vo ---al agradecerle por su trabajo el vice presidente joe biden, dijo que gracias al ---hoy fue el ultimo dia como secretaria de seguridad interna de janet napolitano. take vo ---al agradecerle por su trabajo el vice presidente joe biden, dijo que gracias al trabajo de la ex gobernadora de arizon

saturday's showers accompanying a shift in wind direction and ub able to reconfigure the race course, a decision was made to wait and see if the wind would follow the direction that it has all season. thus, at 2:40 p.m. yet another race post poebment. and in what is now one to have longest america's cup regattas in action, sunday's action may be the day that new ze land takes the cup or the team defender or kwl continue to hold. >> for the quality of this competition, what it means to you know the nation of new zealand, the team of oracle team usa, it's important that it's a quality race. sure we want to hold every race as a quality race but these remaining races it's super important that they're right. >> reporter: this america's cup will be best remembered for its stunning images on the bay and a proper ending is certainly the goal. so they race on weather permitting. with nbc bay area's coverage of the america's cup, i'm lawrence scott. >>> just ahead, the wet weather may have thrown a wrench in a whole lot of weekend plans but there's at least one event that benefitted from the ra

. >> no hub ub here.all is right with the world, this world, the state fair of texas. >> big tex was built as a giant santa clause in 1949. it was purchased for the state fair for $357. >> from big text to a big duck. an international sensation makes its first visit to the united states. a 40-foot tall rubber ducky made a debut in pittsburg. the duck has made a splash around the world, making appearances in harvard, from hong kong to south paulo. it will be moored in pittsburg. the rubber duck is so popular it has its own facebook and twitter accounts. >> that will do it for this edition of news. real money with ali velshi is next. thank you for watching. have a great morning. >>> prepare for a government shutdown, some parts of the economy will suffer more than others. we will explain what it means for you. and the affordable care act may effect the care you get at your local hospitals, and plus some investors are putting a price tag on how much you are worth. i'm david shuster in for ali money." ♪ >>> t

. >> doesn't that suggest that for any inspection regime to work you have to come ub -- up with a way of resolving the civil war? so is it going to lead in fact to some sort of negotiated solution to what is going on on the ground there? >> i wouldn't count on that. >> i think they're hoping for that. it's the honorable -- only hope they have left, really. if there is progress towards an imperfect deal, you have to have all the parties negotiating, the united states and russia on the same page and you basically have to have a cease-fire. all those things are very, very desirable if you really want to go from this to geneva and talk about a peace deal. so there's a chance here. it may be slim but the best i've seen in two and a half years in this con gwen: peter, there's been much conversation out of the president's mouth about the bad choices that existed here. what would have been a good choice? either the rollout of how to act or what to do? >> good question. you hear from a lot of people even in his own party that if he was going to do a military strike it would have been better to

. >> reporter: the bavarian version of the christian democratic ube i don't remember is called the christiann. the strongest conservative voice pushing for traditional family values and a tough stands on european bail outs and does the most, say company bosses, for the small and medium sized company that his make up a big part of germany's exporting success. this company makes high-tech kevlar tubing that can be drawn through and repair a damaged underground pipe. there bby saying millions in construction costs. keeping the business environment friendly and building on bavaria's traditional strengths. >> the advantage of bavaria as a business location is that we can employ local people and these people stay loyal to us. that's how bavarians are. they stay put. >> reporter: the conservative block in germany is not expected to win an out ride majority. at the expectation is that it will form whatever coalition government is created after the vote. and take the lead in making policy. which would mean staying the course for germany. given the country's lead role in the recent economic and bankin

ubs upgraded stock from neutral to buy. couple things they said in their note. and positive outlook for revenue per available room. also overall this is winner year-to-date, up over 15 1/2%, lori. back to you. lori: great nicole, thank you. every four second as new idea sprouts out of silicon valley. we just made that up, but seems like it when pcs morph into tablets smartphones and wearables in the binge blink of an eye. this is day two of the "3 days in the valley" and liz claman's coverage. she has the someone who is the brains of all those electronic devices. liz: here in sony headquarters in san mateo, california, in the hard of silicon valley. you have playstations. none of this would work, none of your phones would work without the tiny brains with billions of transistors on teeny squares of silicon chips. all of those become the brains and drivers of all of these pieces of equipment but without my next guest's company which was founded in 1967 applied materials and mike estimatedder, who is the executive chair, none of it would happen. we are son honored

ube. >> quiche treks to all of the songs the to our list in two stations and devices you could just tackedory. tap >> >> reporter: activation not received huge applause from the crowd. >> if they white the device and tiring day when not be able to read activated. wipe the device. >> reporter: >> the just tapped and scrub and find the file you are looking for just like that. >> reporter: no more manual update spirit they are automatically updated. by 07 will be available toman for mac devices. coupled devicesapple devices >> jacqueline: that in the '80s for the south bay 84 in redwood city and 82 in sunnyvale. for tuesday east bay shores and 70's and 74 in hayward range of '80s for the north bay. here's a look at the extended forecast. the changes into friday with a chance of rain in may before the north that. also see cooler temperatures there. we will start to see better conditions >> pam: gary has highlights the (male announcer): now, the orchard supply sports report with gary radnich. >> gary: goodevening ! >> gary: a's relief pitcher sean doolittle is the recipient of the 2013 dave ste

fed to ease an energy onomist at ubs one of my favorite economist it is good to have you with us.me picked up coming back from vacation coming all little bullish is that insightful on my part? >> what happened was better than expected economic data. that is something to get your arms around it is hard with syria but if they tell you that business was better that is something you can understand if the spending in july that is understandable but to believe what is believable but to ponder what is happening in syria. lou: how much of added is the overhang? >> the important thing of the middle east situation is gasoline prices. distinguish between that and oil but for the time being you have supplies of gasoline so this really has not hit the consumer big-time but if that starts to happen then is a whole different ballgame with how the middle east crisis affects the economy. lou: now in the magic, the september is the fed silly enough to taper in the face of syria or the upswing of prices for gasoline? i'm sure there is no more fighting about unemployment. >> first of all, i think tha

tenemos de todo en menÚ del tiempo pero vamos a observar estas imÁgenes porque son explosiones del volcÁn ube texas en la florida y hacia el oeste de cuba especialmente en el caribe, en el caribe por aquÍ tenemos remanentes de lo que fue la tormenta tropical gabriel se mueve hacia el norte, pudieron retomar nuevamente sus caracterÍsticas tropicales por el momento sigue generando precipitaciones sobre el caribe, actividad de lluvias se van a sentir en el sureste hacia el noroeste pero bueno la gran noticia del dÍa en cuÁnto al tiempo se refiere y las altas temperaturas el paÍs estÁ dividido desde los 90 grados para nosotros aquÍ en california, ha sido la mÁxima con el Índice de calor estamos experimentando temperaturas como si estuviera en los 110 grados, eso sÍ es calor y estoy experimentando yo tambiÉn, fuera de eso san antonio 96 pero notoemos una diferencia con 74 grados es una masa de aire mucho mÁs frÍa que viene refrescando la situaciÓn para ustedes, otros que tambiÉn estÁn experimento ando calorcito, ciudad mÉxico 23 °c. >> mÉrida con 32 esta noche el termÓmetro desciende 75 grados. >

with six ub marked cars in a strategic grid staking out the wrar where cooper was last spotted -- >> all right. we got on the ground. >> okay. it's like he had a camp or something there. >> we have to show you something out here. >> believe it or not, he is -- like he is a camp counselor, but he looks close. >> you know, tell him whatever. you know, you check all the camps. >> they come out right away because there's a lot of it is kids around, and we're not 100%, okay? >> once he walks in here, just try to hold the perimeter. >> until we see what he does. >> a man who might be a violent criminal surrounded by a group of children. even for the fugitive wrun it, it doesn't get much riskier than this. >> every single day these families put their children out on these streets, and they expect us to protect them. it's a burden to carry, but i'm extremely proud to be able to carry that burden. >> [ bleep ]. >> he is a camp counselor. [ bleep ]. >> so we're going to pull the plug on this for today. we're going to get more stuff on the tactical end. that's probably go take us to the end of

he was out its as part of a 2009 deal with the federal government and global finance service at ubs. the firm was notorious for helping wealthy americans hide their money from the fed. >> coming up on the kron 4 morning news. the navy yard that was the scene of that deadly shooting that killed a dozen people in washington d.c. is in this morning. we will have an update on that d.c. is in this morning. we will have an update on that story for you. unbelievable. shhhhh! in our day, we didn't have u-verse high speed internet. yeah, our babysitter didn't have a million ways to serve mom up on a silver platter. we had to count sheep to fall asleep. and i always worried that i was creating an overcrowded sheep farm. in my head... never looked like that farmer took proper care of those sheep. too much? a little. [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. with u-verse high speed internet. if there's a way to ke cn on t cob and ke ievenettewith a cketf hien vley orinalanch we...i all ears. nch rn hidd valy it happy birthday! i

let's get back to nick nelson now, global head of equity strategies ubs. we talked about two smartphonemakers that have had a lot of trouble. generally, the smartphone space seems a little bit saturated, at least on the high end. even apple and samsung who have been very successful are dealing with that. would you be getting into the tech space? particularly some of the smartphonemakers. if so, which ones do you like? >> the top end has been very competitive and the edge that apple has had, the asian producers are kind of caught up there. blackberry, interestingly, it seems we have a blackberry. but i guess the generation below certainly seems to be on darchbt smartphone. >> i'm sure we have the top of the arranged models. i have a reasonable blackberry but it's different from the technology we can have with the other smartphones. so i think it's pretty competitive out there. having said that, more broadly, we are seeing m&a come intact. we've seen that in the nokia deal. and i would argue if you look at tech as a hole, it's quite consolidated. >> u.s. com

ube,said they are working through issues with the commission to find a way to participate to improve the uber experience and meets the commission requirements. >> your taxi is here. >> reporter: taxi radar technicians are installing equipment to meet the deadline. >> certainly the commission should be regulating or installing daily taxi radar. we are working seven day as week to install. >> complying with the current d.c. regulations is one of the easiest things we could do. >> reporter: taxi magic headquartered in virginia is complete with five fleets in the area. >> taxi rides make it easy, available and reliable. >> reporter: five apps are approved and more expected to jump in and put your your arm and hail with the touch of your finger. >> there's a better way. >> reporter: liz crenshaw, news 4. >>> now some apps will store your credit card information. others let you decide your method of payment at the time of the ride. for a complete list of the taxi cab apps in washington go, to www.nbcwashington.com/liz crenshaw. love the new lingo, electronic hail. >>> parnlts, you may want

around the world is easier than originating so they would buy more and more if you look at merrill or ubs during that time it was not the deaf there were not originators the citigroup was the same way and that is a preview of what happened in the l 90s then it made a difference of leverage with two or three times the leverage in the 2000 period during the s&l crisis that is the short and sweet version the housing crisis we are not out of it and that started 2006. >> do think we have a steady enough to make sure it will not happen again? >> no. absolutely not. you have one trend, the consumer side over 32 percent of americans either have no access are limited access to the banking system so 20 percent of americans with home-equity your mortgage relationships have been kicked out of the system. imagine 20% of baking accounts are in the shadow of the market that slows down to a snail's pace the what has caught up is the commercial lending market the junk-bond market that is out of control right now. i don't think the impact will be as prolific if you look bad-- severity issue of the housing

ubs downgraded apple this morning. the china mobile deal, to be fair, people are saying there's an expectation perhaps that will be announced in november. we shall see. a lot of analysts waking up this morning and investors saying, all right, it was nothing that i didn't expect and you didn't wow me. >> no. i thought the "financial times" put it best, apple puts color and security before price. these other countries that don't have these packages, these plans. if you're in one of these countries where you have to actually go buy the phone, the price was not right. why don't you just say it clueless on the air. >> i don't know it's clueless. you do away with the 5, you bring in the plastic phone, lower your cost, protect your margin. in the end, it's about moving around the chains, it's not about innovating a new phone. >> people have to accept the fact that they're not samsung. samsung is the cheapest -- >> people love that big screen, man. love it. >> is apple gm and samsung -- >> could that happen that quickly? >> no

, ubs is up to ten down from 170. >> ism. >> exactly. >> 175 is the number here.h survey, whatever you want to call it, of 12 economic forecasters. and their numbers actually more like 190 up from 180. >> is that the whis per number? >> i don't know, if you took the tik to figure it out, the 11 guys including ubs, goldmanment they're not necessarily quite so high. capital economics. so here's the reason behind the optimism. the claims numbers, the four week moving average is the lowest since 2007. it's not one of the best jobs. it's one of the best ones out there. but this low level of claims or high level of claims is the indicator. the highest number since '06. then, of course, inside that we have horrific numbers. but here are reasons for concern. the trend of august is for an underaccount. housing starts, just okay. you wouldn't expect a huge surge in construction based on the housing start numbers. jobs are slightly negative. adp, just good enough that number yesterday. if you take off government employment, we don't know the sequester effects. big uncertaint

ubs sanctify them when it comes to energy stocks.hey like exxon, chevron, this is chevron going to $105 per share. they blew the big oil companies are likely to benefit the most from those higher energy prices. talking of expiration companies, they will be the most volatile, but they stand to benefit even more from the higher prices. stay away from any that have a lot of exposure to the middle east region, they also put a few other names we all know that list of energy stocks as well. we're just above $107 per barrel. likely to be another volatile couple of days down here. liz: year to date up 17%, so much of it coming in the past month. thank you very much. automakers continue to speed through, apparently bought a car this year, almost all of you did because august sales of heather best month since 2007. jeff flock live from chicago. some top sellers, that is what they want to hear from you, the ones who really hit it out of the ballpark. >> i bought an 84 last year, so i am in. starting with the winners, just got the mw so did not

joining me now, jonathan murray, managing director for ubs financial-services. have you with us. is this, do you think, this performance today, basically everybody just sort of throwing up their hands and saying, we are not amused by washington? >> yes, i think that is it exactly. i think that the private sector has been doing great. we have things like nanotechnology and reprinting and a wonderful development in the private sector with regard to health care. everything is moving along just fine until washington started the politics and fluster. lou: what can we expect assuming that we are going to see the government shut down, the impasse struggle for at least, one might think, hypothetically for days. what do you think the market will do with all? >> in not think a whole lot. if you go back to history, and if history is any guide, and it is about the on the gatt we have, if you examine the 17 past government shut down as you see that the market basically shrug its shoulders at government shutdowns. we average decline of -- are you ready for this --. 7% during

ubs says without a banking union cannot be the solution to europe's woes.olleagues in singapore spoke exclusively with him about the proposals being discussed at the finance minister's meeting in lithuania today. >> you need the structural economies and the social system. europe needs to be much more competitive. a banking union we'll allow the banking system to be safer and contribute to this transformation. but you can't really ask a financial institution or the system to be the driver of changes in the economy. >> joining me now is ian gordon, head of bank research at investec securities. thank you so much for coming in. is this project at the banking union in europe, is that too ambitious of a project? can it ever succeed? >> at the moment, i don't think we really know what it means. instinctively, i'm bound to say it's a bad idea. anything which adds another tier of complexity of regulation over and above that proposed by individuals. it is unwelcome, more possibly and likely to be more confusing. so i'm wholly opposed to the project in context. but pe

ubs economist drew matus says the fed has bigger problems than the taper than bernanke's departure.t. tracy: as we head out to break, look at some winners and losers on the s&p 500. cbs up, they settled with time warner up 2.9%. the dow is back down about 18 points. we'll be right back. you know throughout history, folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. ashley: just about 89 minutes now until the close. the cold petallides is at the new york stock exchange. nicole: waiting to hear any news pertain to syria. that has been one of the main topics here today. the dow has now moved into negative territory. the nasdaq and s&p have managed to hold onto some games. let's bring you right over to citigroup. up 2% today. the bank sold more than $6 billion. this comes as the bank aims to comply with the volker rule. they have been doing this in order to apply. ashley: tha

the secret stash was uncovered as part of the deal with the feds and ubs, a company that helps what thecans hide their money. warner must now pay at least 53.5 million dollars. finally, as part of child passenger safety week, the nationals highway safety and administration is issuing reminders about the importance of child restraints. according to an agency report, more than one third of children under the age of 13 killed in car crashes in 2011 were not in a car seat or wearing seatbelts. more than 600 events are being held across the country where certified technicians will inspect car seats and show parents how to correctly install and use them. motor vehicle crashes are the leading cause of death for children. the thick ofin fall per mere season, and one new thriller on nbc is being hailed falls best new drama. we are talking about "blacklist ," and we are joined right now stars, diego shows and ryan eggold. oh, only brian, i apologize for that. >> i will speak for diego. he is very tired, he has been working all night, and he had to bail at the last minute. unfortunately, you are j

the national hurricane center ub dated everything that's going on in the atlantic. things are very active. i want to take you towards the east. this is hurricane "humber the trto." it may come back up to a tropical storm as it makes its way. that could be a problem. and then i want to take you down here towards the yucatan. we are watching this area now and the national hurricane center saying there's a 50% chance that this is going to develop once it gets over land and back in to the waters the very warm waters of the gulf of mexico. the waters there are about 86, 87 degrees. we expect to see incredible amount over here toward towardse mexican coast. some of the models stay 12 to 15 inches of rain. it's already saturated. once it depositing over here the direction could change so that is one thing. we are going to be watching carefully. when i come back we will talk about storms the across the northeastern part of the united states. >>> it's a pwaopl a booming bus. dozens of the u.s. companies are transforming suburbs in to business hubs. >>> plus, american's wound

the big guy, the big customers of goldman and merrill and ubs and wells fargo, they can get all the ipoy want. you cannot. uni, we have no shot of getting a hot ipo. in fact, the only way that we can get an ipo at the original offering is of the big guys don't want is, and the only reason they don't want it is it the biggest thanks. if they think it sticks why would i want to buy it? the only ipo you can get is the one that she did not want to. gerri: think about what happened with facebook. what a mess. gerri: a perfect illustration. >> that was so highly anticipated. the stocks did terribly going out the door. trading was a mess. big glitch is, big problems. here comes twitter. do you think it will have as many problems as facebook? look at this chart. crazy, crazy chart. things fell dramatically, and it is only rebounded months and months later. >> i sure hope that twitter does not experience the same problems that facebook experience. while the worst ideas in history. technological problems car really embarrassing nasdaq an awful lot. i hope that does not happen. regardless of emily

look at marrow or ubs during that time, it wasn't enough to be the biggest originators of mortgages, they would buy other people's cities the same way and that is a preview of what happened in thes and 90s, the biggest difference between those periods was leverage, two or three times the leverage in the 2,000s during the economic crisis. it is short and sweet. short. the housing crisis, we are not out of it. it started in 2006. >> do you think we have done enough to ensure the financial crisis won't happen again in the banking system? >> absolutely not. you have one friend which is on the consumer side whereby over 30 -- 32% of americans have either no access or limited access to the banking system. 20% of americans who once had banking relationships, credit-card relationships, mortgage relationships have been kicked out of the system. imagine 20% of people, their kids have a system that forces the shadow of lending markets. that slows down the system to a snail's pace. what has caught up for that or made up for that is the commercial lending market, the junk bond market which is out

let's bring in our director of floor operations over the ubs.> good morning. >> i can't believe david is talking about ipos that are 30, 35 times oversubscribed. when is the last time we've seen that? >> as david pointed out in the past, this has been a pretty good year for the ipos. i think things are starting to catch fire again. twitter as back drop has everybody interested. if you have anything that even hints at being social network and otherwise, i won't say we're back quite to dot-com but we're beginning to bubble up. >> when you see a double, it does put you in mind of that time frame. >> look at noodles. we have seen some successful ipos. do you think this is rational, though? are people just trying to chase here paubecause they don't see other great prospects? >> you can't make money on interest rates. pension funds and others are desperately behind. i don't know they would be the kind of people that would step into this ipo. i do think you're beginning to see some chasing of return and it's getting aggressive. >> you say to watch for

. >> back in august ubs had a note that the 5 c could mean 11 million units sold on china alone. is this too optimistic. it doesn't need to beat nokia or a lot of other cheaper phone players. it just needs to add revenues to its bottom line. >> but the issue is are they late to this. quite frankly, there is only so much you can do with a phone. in terms of people that want revolutionary components. we need a brand new revenue stream out of apple. >> is listening to you, your $500 price targets come and went, great job by you. it sounds like you're leaning negative on this stock. are we going to do something ahead of this event? >> i'd like to left handisten and see what the products are but i will point out that the stock did peak last year september 19th. the product announcement last cycle was september 12th. it went on sale on the 21st. it was definitely a sell the news situation last year. >> on the high end do you think there will be any revolutionary? >> gold. i mean it will be the a 7 processor, a better battery, a better camera. here's another thing. so much information h

. >> paul donovan of ubs, the fed, possibly seriously, he says, any impression we have given that the is credible and lightened we would like to apologize for having give than impression. this, from michael gapen of barclays, one of the economic research team, although the decision not to initiate tapering went solidly against our expectations. >> excuses, excuses. >> more and more and more and more. >> what does this mean? what does this mean fors us. >> i told you alison kosik to hunt you down as well. >> he's saying the economy's not that great. >> taking out insurance to make sure that growth gets going and stays going. he calls it a prudential move. he says he wants to make sure that the economy is picking up steam. and he wants to ensure that things don't go in the opposite direction. now, the -- that's, if you like, from our point of view. from homeowners' point of view, mortgage rates will come back down slightly, long-term interest rates will come off the boil, they'll simmer nicely on the back burner but they won't be heated up again. marks will rally. this is just a little

with all the greatest respect that i have through youfor you, the syrians won't especially let the ub i.n inspectors take a look at the carnage. we're supposed to believe assad might turnover chemical weapons and that's it? >> we don't have to trust or believe. the whole point of this is if he's serious, we test the proposition, hold his feet to the fire, ask a lot of tough questions. and in a tight time frame. so this is not just naively believing in a dictator who has lied to the whole world for decades, he and his father, about the chemical weapons, it's about actually exposing them and making them deliver these weapons. and if they don't, i think the united states should use force against syria. >> complete met taamorphosis. assad said they would retaliate. from your experience, what does that mean and what will happen? >> inflammatory rhetoric, but what else has he got. he doesn't dare attack israel. he'll get clobbered. if he does anything to the united states, he'll get clobbered. maybe there will be some effort at terrorism. that's what's going on in the region all the time an

a lot of analysts including ubs came out and said, hey, guess what?believe oil prices will be high whether there's an attack in syria or not. ubs making recommendations saying this is the time to own big oil companies. chevron, exxon, they point out. chevron is $135 price target there. exxon, this is levered to oil prices. meaning higher oil prices are the better they believe these stocks will do. even if we remain at triple digit prices they say it is time to own exxon. they li g thinks starks will churn higher no matter what the u.s. decides to do about the crisis in syria. jeff klinetop, lpl chief financial strategist. jeff, you heard headlines from the beige book. economy expands at moderate pace. wage pressures are modest overall. consumer spending rose in most districts. it sounds consistent with a taper by year's end. your thoughts? >> it does. it really sets the setup to do some tapering here likely in the near term, probably here at the september meeting. it didn't look dramatically from the last beige book. of the it's a collection of anecdo

many cars like that truck ended ub submerged in upwards of a thousand homes lost power. >> karen, howad will it be in arizona today? >> it looks like we still keep about a 60% chance of showers in the forecast coming up. as we go watch flash flood warnings and watches out all across the four corners regions. the rainfall is going to be isolated so it doesn't look like it's widespread rainfall but look at the prescription we have got out there right now. we have moisture coming up from the southwest. typically, it's monsoonal moisture but enhanced by a lot of the tropics have been active here so some of the moisture is making its way around the north. swirling around the four corners region. if you live in albuquerque and tucson and phoenix and you could see the potential for flash flooding today on the order of 1 to 2 inches. around phoenix, as i mentioned, only about half an inch but you get the dry river beds and they fill up so quickly and you see the damage that we saw there. >> those poor folks over there. thank you. we will check back in with you. >>> a thrilling finish to the u

that's why ubs and other analysts came out and said buy the energy stocks, buy chevron, buy exxon.aying despite anything that happens in syria you're still looking at a very bullish situation. liz: phil, that is excellent focus because oil prices, integrateds, also services and halliburtons and schlumbergers of the world are looking pretty strong despite the fact that we're entering as you called it that quiet period. >> no doubt about that. the other thing we have to point out is look at quality issue. if you look at brent crude, part. story production of brent crude has been done. we lost a lot of libyan oil. that has been off the market. european refiners are actually going into maintenance early because they can't get their hand on high-quality crude. today a libyan refiner in libya can't get their hand on their own crude. they're shutting down. so that is tightening the supply. and what's interesting enough, liz, is that now the u.s. is like the global swing producer. you know, instead of our refiners going into maintenance, we're running at 90% production rate higher than it

jack greur, and tom freeman, now managing direct for ubs's financial services group. see i. tom, good see you. let's kick it off with you, jack. what's your advice for andrew? >> first off, you have to save your money, obviously. like i tell all the new millionaires i represent, you cannot live like a millionaire. you have to live like you're a normal 25-year-old, getting your first job. that's the main thing. principle protection. have you to protect that principle so that it can grow over time. >> you're not going to go buying yachts and lamborghinis, are you? >> no, ma'am. >> you're going to save your money? >> that's right. >> but you want to invest it in stocks? >> i'm thinking about it. i'm exploring all my options at this point. it's still too early to settle on one strategy. >> what are those options in your head? are they stocks, real estate? what are your options? >> i'm thinking -- i'm thinking for the long term, right? i'm thinking maybe i.r.a. definitely stocks are on the table. >> you have to get some yield in there. tom, he needs returns here. how shoul

ubs raised yahoo!'s price tag from $37 to $34 and a buy rating on it as well.which is kind of a side note, not the reason it's up so much, they're backing alibaba's unusual management structure, kind of causing a battle with the hong kong stock exchange and the reason why it's forced alley ba ba to look to the united states for potential big >>y eeks nike. doing well. beating under armor. up big. >> that's it? did i take up all the time. >> you ate up all the time. >> okay. up next on "street signs" -- >> thank you. >> making money on america's cheese addiction. >> breaking bad comes to an end this weekend. back to you. >> i got that. looking at covered call strategies to generate income? with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious

ubs senior analyst. he will be at the meeting tomorrow. you as an analyst, lives and breathes as a stock you cover, need to hear? >> we need to hear a clear, concise pathway to the cloud, how they will move into mobile, and i think the enterprise business is very strong but an update how their enterprise business continues to thrive which is still the cornerstone what microsoft is built on. as you said, we haven't had a day for two years and i think for microsoft's perspective, we got the news on ballmer. we got news on buyback and dividend. the next catalyst for microsoft, who will they put in as ceo and calculate the shift they're going through, a pretty dramatic shift they have knot caught on to the wave like others like salesforce.com and a handful of other companies we cover have gotten on the wave. so can they catch the wave? i think we'll have more details tomorrow. liz: do you think they will announce a ceo tomorrow? >> i don't believe they will. i think they're still going to, they're still vetting candidates both internally and e

ubs estimates head coach at the large companies is down 17% from the peak. profit margins have remained healthy. while all the stocks have been down today they're not far off their 52-week highs. if the government shuts down northrop grumman tells cnbc it's working to identify programs that could be faked and understand what we need to do to meet our commitments. >> lockheed martin -- lockheed on friday won more than $3 billion from the pentagon to build more f-35s. it's also made significant inroads increasing international sales. it could beat out boeing to sell f-35s to south carolina and won a missile def contract which includes shares to united emirates. the company just raised its dividend by 16% and increased its share bag buyback authority by $3 billion. look at that chart. back to you. >> thank you very much. let's go to dominic chu quickly for a market flash on another sector that is moving lower on shutdown fears. >> that's right. if you think that a possible government shutdown or whatever it could lead to is going to take its toll on the economy

ubs says no, more likely january. there is a meeting in october. i can guarantee you there will be all kinds of guessing between now and then. most immediate way you're going to see this outside of your 401k is probably mortgage rates. i think what the fed has done or didn't do yesterday probably gives you another chance to refinance or to buy your first home or to get a mortgage at a decent rate, below 5%. it gives you a little breathing room there. because, you know, there were some calls yesterday that you were going to see 5%, 30-year fixed rate mortgages if the fed started to taper. the fed's not tapering just yet. >> while i really took a bath on a stupid hedge fund i own, don't ask, i got the sweet spot on the mortgage. because i listened to you. >> it's still good to refi. >> busy day for you because of the president's meeting today. more news coming up. smartest lady in television, thank you. >>> we're watching some other big news. i want to take you to mexico it there's been catastrophic damage there from hurricane manuel. just one of thr

. >>> let's bring in steve, the tech hardware analyst at ubs, and one of the institutional investors hall of fame researchers. welcome back, steve. >> thank you. >> august 21st, you raised your price target to $560 from 500. we're sitting basically at 500. are the new iphones that jon just mentioned that are likely to be unveiled today going to move that needle? >> i think they could. i think the big question is, coming out of this, what happens to the earnings estimates? this is the first raise we've done in a year. and i think some of the big factors are going to be obviously the 5s, pretty much expected, but will it have fingerprint authentication for the 5c, the lower-end phone, what's the price point, and, therefore, the margin, and how it will be distributed. finally, is apple signing up more carriers, specifically china mobile and dokimo. the reason we raised our estimate is we think china mobile will come on and could add $3 in earnings. >> steve, it's joe. this time last year, it was supply disruptions that cost me, specifically, and other people a significant amount of mone

ubs says their target's under review. down 8.5%. >> why don't we look at walter energy.are win for a coal name. walter energy up by nearly 5% today. >> kind of an odd call by morgan stanley. and it's odd because here's why, okay. it's out of the metallurgical sector of had they're a member. they lower the target to 33 from 47. but the stock's at $14.50. so even the new lower target is more than double the current price, perhaps people thought morgan stanley would cut it more. they believe metallurgical has gotten crushed, it's down big here today, may have finally hit the bottom. >> down 60% year to date just to put a number on it for our viewers and listeners. i think "street sign" should take the victory lap on this one because it was one of those under-the-radar names a few weeks ago. since then it's been in the news quite a lot. we're getting really positive ratings as well from various brokers. >> i mean, listen, toot our own horn. it's the power of using machine and going through and digging and doing your own research here. phar pharmacyclics. another 40 bucks of

ubs says while industry revenues are down 5% for the biggest players, head count is down 17% to a leveles those job cuts slowed in the last quarter to only about 1%. does a shutdown speed them back up again? lockheed martin tells us that if there is a shutdown "unless we receive guidance from our customers," we know who the biggest customer is "our facilities will remain open and our employees will continue to receive pay and benefits." the company recently increased its dividend and its share buyback authority by $3 billion. that's going to help the share price. and what sequester? just got another 3 billion plus dollar contract from the pentagon for a new batch of f-35s. also a nearly $4 billion contract for missile defendants part of that for the united arab emirates emirates. still the upcoming earnings reports will really be telling as the companies begin to feel the second year of sequestration and the pentagon runs out of what you might call spare change. key bank says "sequestration is here to stay, perhaps through 2016 which could create problems but mostly for smaller companie

credits to bank of america, merrill lunch and ubs downgrading the stock of apple new version unveiledt announce the deal with china mobile as expected. that put pressure on the stocks this morning. >> counter fitzgerald is hosting the annual charity day to honor those lost during the attacks on september 11th at the world trade center. celebrities come and make trades. proceeds go to 30 charities. joining us now, lp chairman and ceo. thanks for joining us again. how many of these have you done? is it me or is time going so quickly? it seems like yesterday. it's been 12 years. >> that's exactly right. you feel like sometimes september 11th is so long ago, but then times like this morning i came back to that morning. in a lot of ways it feels like just yesterday. >> luckily your firm was able to flourish. for the simple fact of doing this charity day, give details of what you guys do. >> we had 960 new york employees. we lost 658 on september 11th. we had 302 left. we had secretaries without bosses, corporate bond divisions. one division had 86 people and only four survived. now we have