you had people running around, traders were making their moves, they had orders in their hands. in the end, what to we see? we have a negative market, maria. what is moving? well, you have utilities at this moment. we do have stocks that are paying good dividends, looking higher. liz macdonald has a great piece on foxbusiness.com pointing out all of the high-paying dividend stocks, conocophillips, frontier communications, those seem to be holding ground in the green, but we do see a lot of weakness. not so with the russell 2000, the small and mid-cap index is the one moving higher, maria. back to you. maria: of course, when you look at these sectors, you've got growth going down, lou dobbs can, technology, financials, industrials and utilities. real estate investment, as liz just told us, going up. >> well, in this market we're not looking at dramatic moves anywhere, and we don't appear to have anything approaching radical volume levels at this point. the fed, it seems to me,

most s&p 500 sectors are lower, you have tech, utilities. overall, native data. -- overall, negative data. joe: i want to look at my terminal, because something interesting happens you look at futures. we said pay attention to china pmi. everyone is watching chinese data. including janet yellen. that came out at 9:45 a.m. new york time. instantly, futures fell. the worst numbers since the crisis, well into contraction territory. the market did eventually rebound, but i have never seen u.s. futures react like this. alix: new export orders were down. the idea is if you have a lot of inventory, not a lot of new orders, what does that mean for factory production? nothing good, that they recovered, which is puzzling. joe: we had some solid data in europe, maybe that helped a bit. see the eyes of the world on chinese data. alix: that is what led futures lower. i charted the intraday s&p versus the oil price. the white line is the s&p. right after we digested the inventory numbers, initial reaction was a leg higher. you really see this big drop low

most s&p 500 sectors are lower, you have tech, utilities. overall, native data. there was a catalyst or velocity that takes things up. joe: i want to look at my terminal, because something interesting happens you look at features. futures. we said it to pay attention to lookingi, everybody is at this data. --s came out yesterday, whom .oom, the futures dropped well into contraction territory. the market did rebound, but have never seen u.s. futures react like this. down,import prices were the idea was if you have a lot ,f inventory and not new orders what does that mean for the future, but they recovered which was puzzling. joe: it is solid data in europe, maybe that helped and we looked at volkswagen, we will talk about that later. he couldn't see the eyes of the world on china data and the reaction is instant. alix: we will look at what led markets lower. versusd at the s&p 500 oil prices, the white line is s&p 500 and the yellow line is oil prices. we took a guess at numbers, once digestion came in we saw a big drop. this is definitely an oil specific thing, t

if you have utility door chores or errands to get done this would be the time period to do it. 2 o'clock90 degrees. 92 is your high today probably around 4 o'clock this afternoon. even though that high temperature is a couple degrees below yesterday's high the humidity is going to be so much higher today that today will probably feel more uncomfortable. high temperatures, 91 in reading, 91 in trenton and wilmington. 88 in millville and down the shore today mid 80's. look out in the water, it's going to be warm but there is a slight chance of rip currents down off the boat -- the beach i should say. as we take a look at the phillies tonight, lots of clouds. posting the possibility of an early thunderstorm but honestly the better chance is north of the city. you probably get the game in okay but it will be humid. 84 degrees for the first pitch, 79 in the ninth inning. tomorrow we have a front coming at us and it will cool us down with more clouds kicking in. 82 is the high. it will still be humid. but with that frontal passage we are looking at some downpour producing showers and thunderst

because if you look at this bar chart that i have right here, if i would have told you this a week ago you would have said i was crazy. utilities have rallied 27%. the year that the fed started to enter into a raising rate cycle. what else? energy. i understand energy because you figure growth is important. you figure the economies are getting going. but what's more important is if you look at this, that's against the backdrop of the s&p being up 11%. that's important. you have here 2 1/2 times what the s&p did. you have three times what the s&p did in energy names. so just to broaden this out a little bit, let's just look at the whole cycle. from 2004 all the way to 2006 this is the fed funds rate in blue. this is utilities right here. all the way up. it tracked it. step for step. you wouldn't have bet on that a couple of weeks ago, couple of months ago. utilities are your safety bet under the radar. >> you've got to wonder what the performance of utilities were going into this, if there was some anticipatory sell-off because of that. did you look at that, grass? >> i did, and there wasn't. but what i will tell you is what's m

you have utilities down, so more defensive groups. see it utilities are down .4 upon percent and staples is another defensive group and health care are up by only .24%. andgy and commodity names related companies are gaining. it is reflecting that in the underlying crisis of copper and those prices. let's move onto treasuries because as stocks rally, treasuries are falling and that means higher yields. the 10 year yield at 2.25%. erik: the 30 year yield is just above 3%. scarlet: that could be at into pressure on treasuries. let's get to currencies because the yen is weakening for the third day. the first market taking its cue from equities. the dollar yen at 121 13. let's get to top stories crossing the bloomberg terminal. migrant with the crisis. one key leaders said there was a lack of unity in the european union. ahead of the european union urging nations to find a solution by next week. they say every eu nation must take in some of the 160,000 refugees. angela merkel agrees that quick action is needed. >> we need a binding agreeme

you are going to have no hot water or heat. be careful not to shut it off unless you smell gas. >> absolutely because once you do shut it off you should have the utility come in and turn it back on. here is a mock up of a gas hear the on a house. where would we find the gas meter? >> it should be in your garage. everyone should be familiar with where the gas meter is. >> one of the tools is a wrench, a crescent wrench. >> yes. the crescent wrench is good and this is a perfect example of how to have it so you can loosen it up and use it when you need it. >> okay. let's go inside to talk about fire safety. many of the issues here relate to fire, for example, we have a little smoke detector and i see you brought one here, a carbon monoxide smoke detector. >> this is a combination of smoke and carbon monoxide detector. they are required in single homes now and in apartment buildings. if gas appliance is not burning properly this will alert you before the fumes buildup and will affect you negatively. >> this is a battery powered? >> this is a battery powered and it has a 10 year battery life. a lot of times you may have one or the other. if you put in just

you have utilities up as well. not really big gains there.s, those have been doing early -- poorly all day. especially related to copper, that has had problems today. so a big loser. alix: and commodities, oil seems to want to go higher. they could not keep it and it has really gone downward and taken energy stocks with it. a lot of that has to do with the refinement conversation we had earlier, this is down more than normal because of the time they are going to write not, they are not using capacity like they have been. oil is really coming down. when you look at inventories shrink, a drop there on the reduced refinement capacity and output. that brought down oil and energy stocks as a result, anything related to that is having a tough time. although not much movement there either. alix: it is true. thank you matt miller. we are also monitoring pope francis today, he is heading to the villa so that -- to the silica in washington dc for a massive coronation. he is driving there now, we'll update you on when he arrived. that historians say in

you have a utility company in there. southern company goes up in value because the sector is used as the bond proxy. it trades like a bond, and provides income. public storage, another company, other real estate investment trusts are in that as well. as for ross stores, interesting that it may outperform as the customer basin joys lower rates on credit cards and other modes of credit they use. on a side note. all of the stocks closed higher today. of course in the rally ahead of the fed decision. but again just part of the story. for the full list and other names, subscribers go to cnbc.com/pro and check out the full story there. melissa, back over to you. >> dom chu, thank you. and utilities and reits being bond proxies. >> that certainly makes sense in that particular case. ross stores was weird. that seems like an out liar, i would throw that out. >> i have to take issue with that. when you think about the utilities how poorly they've acted in anticipation of rates going higher. that is what we're focus on. we're not

utilities and reits is there's not a fed move coming. what's also interesting is the precondition. that strength you spoke of, very rare to haveull phase last year. it was let by the single most defensive part of the market utilities. >> if you have another chart if you look at the one-year of the ten-year treasury yield let's pull it up there. i have two circles. one back in december and one right now. back in december the xlu was at those all-time highs. up 30% on the year. the ten-year yield was 2.2%. you know where it is right now? to me that tells me something a little bit too. >> the last rate height cycle involved 25 basis point rate hikes during an epic bull market. so i think it's important to remember that even if we get a rate hike tomorrow and it's 25 basis points let's say let's try to keep a little bit of perspective here. 25 basis points is not a huge amount when you think about it. even when we do see subsequent increases that's going to be acopping good economic numbers. >> that is a signal. that has been a big debate. finally let's get a trade on ute ilths. . >> when item looking at the xlu they also look dol

you have a nice defensive high-yielding asset, if you can say that in this kind of environment, but at 4.1%, better than most other alternatives and it is not fed sensitive, at least as much as utilities or reits or what have you. >> that coupled with the fact that this is the domestic smoking business as opposed to philip morris which is the international basis. and we were talking about staying domestic. >> so this is interesting. you think about tobacco as a declining business over all but this is a company seeing 2% to 4% top line revenue growth and growing eps, partially the net of acreteive effects at 8%. and so it is reasonably priced. and as carter was pointing out, not economically sensitive. that is helpful if you have concerns there. but it has seen an increase in options premiums because the market has been more volatile. so this is a situation where you look to sell some premium and enhance what you would otherwise get in a dividend payer. and because options premiums are elevated, i'm looking at selling some puts in the name. in the october '55, when it was trading at 55.5 and it has fallen off since then. you could collect 2% of the stock price and sell them for over a

. >> have you read the michigan versus epa case? have you read utility case?>> there is a pulmonary injunction. >> in us being court cases but said that they epa violated the clean water act and the clean air act and the north dakota federal court recently said the waters are the u.s. rule that we've debated and a lot of us think that it violates the law. the court said that it's very likely that it did. do you think a private sector company can violate the law? >> this is the way the process works when they interpret the law. we violated the law of the constitution that is exactly -- >> i think you need to reread these cases because that is what the supreme court said. >> thank you mr. chairman. >> thank you mr. chairman very much and thank you administrator mccarthy for being here today. we've got a big mess on our hands. we are dealing with a law that was passed in 1872, ulysses s. grant was the president of the united states and it hasn't been amended since then and he did a great job by the way on winning the civil war, just a great job. i want to complim

you do before that? >> i was in the infrastructure business, most recently, i ran the gas utility in hawaii. >> so have you of seen a utility or system like this that didn't have issues that continually had to be addressed and updated? >> absolutely not. and the way you do it is take the connecticut model and perhaps the california model, and you roll it out gradually. you increase functionality. when we first started to make airline reservations we couldn't get a seat assignment online. now you can get umbrellas in our drinks. >> it costs extra for those umbrellas. mr. gutierrez, your state had a lot of issues, what are you doing to remedy those issues. >> i have a belief that large i.t. projects really need strong governance, and we tried to address governance. >> ms. o'toole? >> thank you. some of the same things that you've heard already. we in minnesota early on took on two self-evaluations of ourself to make sure we identified problems and could focus resources where they needed to be. and we have made tremendous progress in two years, and hundreds of thousands of minnesotans have enrolled with relat

so to me, i think you have to think of a pretty defensive playbook continuing, a couple weeks ago we talked about utilities was kind of counterintuitive. that trade has worked okay. i think you want to be in defensive. u.s.-centric names like utilities. >> do you agree? >> yeah. think about it this way. in the past we used to see wagss where bad news, the market would sell off early, and what's happening now, even good news as the day digested, people are looking for excuses, it seems to me, to sell stocks. so i don't think you'd be a big buyer in general. >> what does it really matter what she says. it turns out their messaging is so confused that the market is -- is she going to raise? isn't she? basically that's part of the equation. the market doesn't like it when they're threatening to raise, if they're threatening not to raise. the tape has changed. >> what does history tell us, though, carter in terms of the sectors that perform best? >> well, sure, in a rising rate environment, you don't want to be in things that compete with higher yields, typically. the real cost of capital is still very low and

. >> the cost of living has sky rocketed do you know what i mean and i have to pay utilities and i have kids and i have to food. do you know how much the city pays for that? >> our budget letter shows that which is basically like what they pay for our rent, pretty much like the break down. >> the money that is used and public assistance is paying for us to stay here that can be live. >> i'm sure you know how much the city is paying to house families in crisis. >> yeah. >> reporter: this is ryan and ten months ago she and her family applied for shelter, the apartment. >> so what is this? >> the budget letter. >> reporter: every month she receive as budget letter from the city. is this how much money the city is paying your landlord? >> for this apartment. >> yes. >> $2700. >> 27, 3750 and that is a lot of money, do you think the apartment is worth it? >> no way. >>> 115 open code violations. that is an average of five violations per unit. she says she has asked for repairs but she is still waiting. >> the windows ain't fixed. the light don't come on. the socket in the kitchen is not even

yielding asset if you can even say that in this kind of environment, but at 4.1% better than most other alternatives and it is not fed sensitive at least as much as utilities or rates or what have you. >> that coupled with the fact that this is the domestic smoking business as opposed to phillip morris which is the international base. we were just stalk being saying domestic. >> yeah, so this is interesting because you would think about tobacco as probably a declining business overall. actually, this is a company that's seen 2 to 4% top line revenue growth, they've been growing eps partially the need of the creative effect at probably 7 to 8%. at the current valuation it's reasonably priced. the other thing is as carter was pointing out not economically sensitive, that's obviously helpful if you have concerns there, but it has seen an increase in options premiums because the market has been more volatile. so this is one of those situations where you actually are going to look to try to sell some premium and actually enhance what you would otherwise get in a dividend pair. for me because options premiums are elevated i'm looking at selling some puts in this name. the october 55

you sit around it and talk about stuff and brainstorm? know what i mean? we are trying to utilize that. to me, that is utilizing everything you have. >> the giants have gotten pretty desperate for healthy players these days. the giants trailed 8-6 going through the bottom of the 9th inning. now, buster posey, bait hit. duffy will try to score. here is the throw, the tag, and he is safe. the game is tied extra innings. but ... downtown goes frazier. todd frazier into the seats and the reds win 9-8. the giants are currently eight games back of the dodgers in the west. the dodgers are still playing as we speak in extra innings. >>> the as greeted jeff samardzija by knocking him around in chicago. 6-2, josh reddick had a two run jack and the as scored a season high 17 runs. they win 17-6. >>> how about this? this bills fan mixes a lot of alcohol at the tailgate. no shot. down goes frazier. he got a faceful of rv. >> again. >> i could never quite get it. we cover a lot of 49er raider games. i want to go to a game and i want to be able to see the game i don't understand the strategy of inebriation. >> drinking until you can't see anythi

have the courage yet again. what's interesting is the precondition. that strength that you spoke about, very rare to have a bull phase. last year was hugely bull for equities. it was led by utilitiesthis give back gives you a chance to go the other way. >> we have another chart. if you look at the one year of the ten-year treasury yield, i have one back in december and one now. back in december the xlu was up 30% on the high. the ten-year yield was 2.2%. xlu is down. that tells me a little something, too. >> the last rate hike cycle included 25 basis point rate hikes during an epic bull market. so i think it's important to remember that even if we get a rate hike tomorrow and it's 25 basis points, let's keep a little bit of perspective. 25 basis points is not a huge amount when you think about it. even if we do see subsequent interest rates, that will accompany a good economic number. >> that is a signal. let's get your trade on utilities. >> to me, i'm looking at the options of the xlu. they're elevated like most etfs and single stocks. when i'm looking at the xlu, they look dollar cheap. the stock will go x dividend. it will pay a 42 cent dividend. that chart is the ten year. lo

you talk about stuff. we are trying to utilize everything you have. and that is what we are trying to do. we are talking about everything that has been one banker at the we have a lot of work to do! --one game >> gary: the same cycle whether or--regular guy and have to root for him. >> gary: see as an all over the league he is a great talent but he's entered patrick reddy bush, he left the game and never returned. it was diagnosed as a strained calf. bush was scheduled to undergo an mri for further evaluation today. no results love. but coach tom solis said bush would be good and it doesn't look serious. --tomsula >> gary: marsala lynch mom think she seattle's seahawks' offensive coordinator bureau bevel should be fired he actually agreed with the rebels called to give the ball to her son on a failed fourth and one play in sunday's loss to the rams. >> diane: >> gary: but she still stand at the decision to not give the boss to marchand at the end of the super bowl. when a reso was the interaction gave the game to the patriots. she posted this onboth--post this on facebook. on monday. >> g

you are going to have no hot water or heat. be careful not to shut it off unless you smell gas. >> absolutely because once you do shut it off you should have the utility company come in and turn it back on. here is a mock up of a gas hear the on a house. where would we find the gas meter? >> it should be in your garage. everyone should be familiar with where the gas meter is. >> one of the tools is a wrench, a crescent wrench. >> yes. the crescent wrench is good and this is a perfect example of how to have it so you can loosen it up and use it when you need it. >> okay. let's go inside to talk about fire safety. many of the issues here relate to fire, for example, we have a little smoke detector and i see you brought one here, a carbon monoxide smoke detector. >> this is a combination of smoke and carbon monoxide detector. they are required in single homes now and in apartment buildings. if gas appliance is not burning properly this will alert you before the fumes buildup and will affect you negatively. >> this is a battery powered? >> this is a battery powered and it has a 10 year battery life. a lot of times you may have one or the other. if you put

you! ♪ introducing the one-and-only volkswagen golf sportwagen. the sportier utility vehicle. >>> have ever suffered a cracked rib? it's incredibly painful. >> yes. tonight a new procedure for treating a cracked rib that can result in faster healing as well. >> reporter: after gliding on his bike, dave's ride came to an abrupt and painful end. >> i hit a curb and went over. it didn't feel good. >> . >> reporter: dave was rushed to regional medical center. the doctor suggested a new treatment approach known as rib plating. >> they go on the outside of the rib. >> expose the fracture. >> reporter: he says the standard procedure has been to let the ribs heal by themselves but says the breaks can cause excruciating pain. requiring pain relievers so powerful they put their breathing at risk. the plating provided screws. the doctor says once fixed into place, the level of discomfort drops dramatically. >> if you can immobilize the rib with a plate, pain goes away. >> reporter: since it's so new, insurance coverage can be a case by case basis. he believes any cost is offset by faster recovery

the big issue in asia is you have seen many of these economies developing overcapacity. they are now trying to utilizes capacity. tryhen you do that, and you to cut prices, you have to seek demand from elsewhere -- what we are seeing in the vote, those potentials are declining. look at the united states. the fed is suggesting that the growth potential maybe at 1.6%. the question there is how do you utilize overcapacity when your main client base is no longer having the growth potential to create the demand? so that actually means that efforts are on the risk of depreciation, if you do not find other ways of utilizing it. we have seen since , an increase in private debt in the region. when you look at debt increases globally, and you see that in our world it has been mainly government sectors increasing in asia, it has been the private sector doing that. they were pumping this into housing or into production capacity. now when you have these two forces, declining returns on investment because you over invested, at the same time the cost of funding may increase because the fed may hike interest rates. t

you! ♪ introducing the one-and-only volkswagen golf sportwagen. the sportier utility vehicle. >>> have a credit card and have the clerk not ask for a signature? >> it happens more and more, which begs the question, why? >> more and more people are asking that question. most are pretty sure they know why, but aren't certain. >> reporter: here at the ferry building everybody we saw using a credit card was asked to sign a receipt. that is not always the case. often, you'll just be handed a receipt nochlt -- no signature recipe. >> the speed of the day? >> reporter: credit card companies put a lot of work over when to get a signature and not. >> usually under $25 you don't have to sign. >> reporter: that is stephanie ericson with visa. she says it's about not getting ripped off. to that end, visa is keeping an eye on our behavior and actions of the bad guys. >> today, we allow all merchants to accept transactions up to $25 without capturing a signature, some merchants can do it up to $50. we don't see a lot of fraud in those values in those stores. >> reporter: so the merchant is protected

utilities. comprise you have companies selling food, beverage and household supplies, items consumers need regardless of the economy, staples are considered a more defensive sector. one some investors are rotating out of in favor of more cyclical stocks. experts expect that to continue. >> staples because of its defensive nature is going to suffer once rates start to raise and economic growth starts to heat up. the other factor with consumer staples, it has the lowest earnings growth of any sector of the s&p excluding materials and energy which have gotten hit by the commodity downturn. >> there have been four cycles of rate incrises from the fed since 1990. consumer staples is tumbled every time losing an average of 1.5%. still it, losses tends to be better than the broader s&p which averaged a 2.5% decline. names tending to fair better include molson and costco which each have in the past averaged gains. pepsico and whole foods have historically sold off. amid all the market uncertainty, there may be specific buying opportunities. >> the silver lining of all this volatility is that consumer staples

you are going to have no hot water or heat. be careful not to shut it off unless you smell gas. >> absolutely because once you do shut it off you should have the utilityompany come in and turn it back on. here is a mock up of a gas hear the on a house. where would we find the gas meter? >> it should be in your garage. everyone should be familiar with where the gas meter is. >> one of the tools is a wrench, a crescent wrench. >> yes. the crescent wrench is good and this is a perfect example of how to have it so you can loosen it up and use it when you need it. >> okay. let's go inside to talk about fire safety. many of the issues here relate to fire, for example, we have a little smoke detector and i see you brought one here, a carbon monoxide smoke detector. >> this is a combination of smoke and carbon monoxide detector. they are required in single homes now and in apartment buildings. if gas appliance is not burning properly this will alert you before the fumes buildup and will affect you negatively. >> this is a battery powered? >> this is a battery powered and it has a 10 year battery life. a lot of times you may have one or the other. if you put i

have closures as well. if you are going into that spot, utilize mass transit. montauk is closed west at south ninth street with an accident. street cleaning rules suspended. metered are in effect. >>> still ahead, a pregnant woman was just trying to hail a cab when all of a sudden here birth to her son right on a downtown brooklyn sidewalk. now, a viewer captured the scene as it unfolded on henry street last night. the woman has just got off the train and about to hail a cab when she went into labor. after the baby boy came in the world, he and mom were taken to the hospital nearby. >> hope they are doing just fine. >> it must be a relief to not be in labor for long. if men thad to give birth there would be no baby. >> i heard that many times. >> 21 hours for me the first time. >>> meteorologist bill evans with the exclusive accuweather forecast. >> guys would be like i can't do this right now, there is a game on. >> right? i'll be right with you but not right now. >>> low clouds. you can see the lights of the city reflecting off of that. here is a shot of the

you spoke of. very rare to have a bull phase. last year was led by the single most defensive part of the market, utilities. give back is to go the other way. >> you look at the ten-year of the treasury yield. ten circles. one back in december and one right now. back in december the xlu was at the all-time highs. the ten-year yield was a 10.2%. where is it now? about the same. so, to me that tells me something a little bit, too. >> the last rate hike cycle. >> during an epic bull market. i think it's important to remember that even if we get a rate hike tomorrow and 25 basis points, let's try to keep a little bit of perspective here. 25 basis points is not a huge amount when you think about it. even if we do see subsequent increases, probably incompassing good economic numbers. >> finally, let's get your trade on utilities? >> to me, i'm look at the options of the xlu and they're elevated like most single stocks in the market. let me tell you when i'm looking at the xlu the stock is going to pay a 42 cent dividend. that chart right there, that's the ten-year. look at that uptrend that has been in place, i'm

you. next we have to pay attention to the thicknesses. >> did you have to consider the skill level of the people you were working with? >> yes, in a couple of different ways. i'm going to have to utilizewho are not bike builders. this is not a factory so much as a studio. >> did you have experience in building bikes? >> not anything more than riding and tinkering. >> what were your job prospects? >> it was pretty rough. this job has a chance for me to earn a good living. >> pie lab, another hero employment project. >> i was on the welfare program, i have a job now can pay my bills and take care of my kids. >> so it sounds like it really changed your life. >> yes, it worked the best. >> of course you can't do a bike story without a ride. >> here it is. >> thank you! >> yes, it's awesome! i can't believe how smooth this bike is! this is really cool! >> so what did you think? >> well, if you are not careful i'm going to steal it when you are not looking. >> full scale production cranks up the end of the year. the semester bike is about $850 and each bike sold means another job for someone in greensboro. >> what we would like to do is use what's here to create a better future. >> how does

doesn't go to fund abortions, i have been a judge, a prosecutor, and if someone says we paid all the rent and utilities for the facility knowing a crime was being committed there, you have aided and abetted and you are as guilty as the principal for what happens in the facility. i see my time is up. >> thank you. >> i would like to ask unanimous consent to put in a record letter from the association indicating they do not have the capacity to pick up the planned parenthood casework. be madehat objection part of the record. this concludes today's first hearing as part of this investigation. i want to thank all of our witnesses for attending. we will soon announce the date outhe next hearing and with objection from all members will have five legislative days to provide written questions for the witnesses or additional materials for the record. the hearing is adjourned. [captions copyright national cable satellite corp. 2015] [captioning performed by national captioning institute] signature feature of the tv is our all day cover of book fairs and festivals from across the country with top nonfiction authors. here is our schedule. that is a few of the fairs and festiva

you! ♪ introducing the one-and-only volkswagen golf sportwagen. the sportier utility vehicle. ...until we found a connection. you havehe power to change your child's life. the boys town national hline can help. (tdd# 1-800-448-1433) >> santa rosa, berkeley, san jose and all the bay area, this is abc7 news. >>> an estimated 70,000 people make their way home from bumping man a new report shows the f.b.i. spied on the festival a few years ago. it is unclear if any f.b.i. agents attended the event but the report confirms they spied on the festival to collect intelligence and prevent terrorist activities in 2011. the music and art festival draws tens of thousands to the nevada desert each summer. look at the stream from the festival you can see the crowds are gone and it looks like the remaining stragglers packing up as crews move in to children up the caps and temporaryville amendments that make up the massive site. >> hundreds of passengers on a conflict if san francisco to germany finally at their destination. they were delayed when unexpected engine trouble forced the pilots to dutch fuel and turn away. sergio has tha

as our internal discussions of dealing with fol folks, if you're going to go in the office, you have to utilizeoperly. we felt in the first term this was the best way to move forward, beyond the press secretary. it's a shame scott mcclellan is not with us this morning because there's so much more complex apparatus at play in a white house and particularly the george w. bush white house, are we on message, are we communicating and are those communications resonate iing. >> is it all about poll numbers and where is the president coming out and coming down. after 9/11, the vice president was often in secure and undisclosed locations we euphemistically dubbed the cave. i'm a big fan of "saturday night live." on one particular saturday night, darrell hammond, the comedian who had been cast to play dick cheney, and they had him in this little cave in afghanistan, and he had a little -- where his heart was supposed to be. he had a little coffee maker and it said i'm invisible, i'm invisible and, oh, this is snkta, mmm, tastes great. i went to our policy meeting with cheney and say, boss, did you see t

and then you have the question about utility. the utility of the program. and that's on the executive branch to make that argument. and it's important that they make that argument to congress, that really, this is important. and define this, what core of that authority do they really need? and at some level, i think that argument can be made. because the question then, and i'm going back to my old slippery slope argument, as an advocate for the government, in this situation, i'm sort of doing that. what is bulk collection? it's a broad term. once again, like the 24/7 drone, we're talking here about the collection of millions and millions of phone calls, so in sort of a relatively speaking, extreme form of bulk collection, and the question -- the legal question under 215, is it relevant -- every piece of that information relevant to a terrorism investigation, national security investigation, to have all that? the argument is, we need all the telephone numbers in order to see the patterns, the type of thing that greg was talking about in relation to banks in

you have a lot of friends on this issue. you have friends in the united states senate and the ngo community. just utilize the strength we have. i'm pleased that this issue has gained strength through advocacy groups here and around the world. you need to be the leader to focus us on where we can be the most effective in helping you. if we know where problems exist in the political structure to make progress, we can help you in doing that. if you feel that's not your role, we may miss an opportunity. your independent objective information to us becomes critically important. >> thank you, senator. >> thank you, mr. chairman. >> thank you, senator cardin. we're going through a period of time where this issue, i'm sorry, not a focus. we haven't done what we said we would do and people are dead and people are leaving. in malaysia, i don't know exactly what's happened, but i don't think the tip office was heard at all. i don't think the issue of trafficking of persons has even been on the radar screen in modern times. i'm sorry. it's a blight on our country, and you're entering at a time when all of us want to

have been waiting for, we help the overall mission. >> some of those resources will be available, how do you see utilizing the resources that have beenvailable to the city of detroit? >> like the cheese mentioned we're going to look at our current crime strategic plan, we are going to look at the resources the federal government has to offer us in terms of additional training, additional technical assistance, access to subject matter experts and looking at the agencies that are currently in the program by this reduction network program and looking at things and seeing how they were effected in those communities, those ideas for networking, already in, bring some of those tools back to the city to make it more safe and even isn't. >> you have seen just like chief craig in your own community there has been a slight reduction in crime that you have been able to buy yourself. one is the expectation with the help of the federal government? do you have a goal as far as percentage decline you would like to see or specific area you would like to focus on? >> overall in the city of compton we are trending downward for the past 15 years since

you! ♪ introducing the one-and-only volkswagen golf sportwagen. the sportier utility vehicle. >> if you look for a chocolate croissant you have one more day becauseocations will be shutting down today, including russian hill neighborhoods and in palo alto and danville. the closures are a week after the first of 123 stores in california went dark, starbucks awared the san francisco bakery chain three years ago for $100 million and decided to close them say they were not a if guilty for the long term growth of the coffee giant. >> it is the weekend but a local day weekend. mike? >> what will you be doing? going to millbrae? the art and wine festival starting off at 65 at 10:00 and language out if the low-to-mid 70s and a strong sunshine and back to 71 when we close shop at 5:00, and we will have temperatures at 3-5 degrees warmer than that on sunday. if you like greek, head to the greek festival where you can see 79 today, and mid-to-upper 80s for sunday and monday and if you are traveling away, it will be cool in lake tahoe and 67 and two degrees tonight and mid-70s in san diego and los angeles. safe travels. >> some greek food, cheese and spinach

i think you need to be selective. >> david, i was going to ask you the same question, not all utilities are created equal, some even have significant real estate investments, for example. who specifically do you like here? >> for growth investors we like next year energy, it's the largest generator of wind and solar earnings, we also like cms energy energy, a michigan based electric utility where earnings are expected to grow 5 to 7% annually and we also like ppl cooperation a large utility with u.s. and u.k. operation that is has nearly a 5% yooer yield and 4 to 6% growth rate. >> our bull and bear like the same things. that's interesting. thank you for joining us today. >> thank you. thank you, bill. >> 38 minutes left in the trading session here. it is an expiration day, whether that's having the biggest impact on this sell off, we don't know -- well, now we are down 300 points on the dou industrial average, that is the low of the session. we have established there is a sell side bias going into the close. >> and that quadruple on higher volume. up next a top apple analyst explains how a calendar change in a tech gia

you! ♪ introducing the one-and-only volkswagen golf sportwagen. the sportier utility vehicle. haveeekend, show you the best quarterback in the country calhoun anchoring the defense. >> warriors trayvon green stopped by college game day this morning in east lansing, michigan state takes on oregon. the oregon mascot forced his hand or his head. you never see dra month wearing that head. >>> number 10 georgia on the road against vandy. mckenzie takes it from his own 23 and this is going to be fun. weaves and bob's, finds a seam and he is gone. 77 yards. wow is right. georgia wins it big. 31-14 that final. >>> well, after italy robert at that vinci upset serena she had to face her doubles partner flavia pennetta in the u.s. open finals. the italian prime minister on hand to watch. flavia took the first step, second step and then she recovers, great coverage to get that point and game. match point she breaks with a ninth cross court back hand winner. that would be a forehand. penneptta wins, her first and her last. >> one month ago i take a big decision on my life and this is the way i

you want. the whole world is down 2.5%. energy is down. telecom and utilities. let me ask you, what is telecom and utilities have to do with china? the answer is nothing. if you look right here, look at some of these big names out here. here, at&t down 2.3%. southern company down 2%. con ed down 2%. this is people taking down exposure. regional banks. they are down 4%. they don't sell anything in china. bb&t. we are a long way from the bottom of last week. we are a good 60 points away. we are 700, 800 points away from that. a long way to go. good news. we've been watching these market on close imbalances the last couple of weeks. the imbalances indicate no real impact at the close. very small sell imbalance. not statistically significant. this does change a little bit. i'll keep an eye on that and let you know if anything like that pops up in the next hour or so. back to you. >> thanks, bob. >> let's send it over to bertha at the nasdaq. >> watching the same thing. we are not seeing that huge spike in volume. last week we also watched on tuesday as we closed at the lows of the session above 4500. we are well above that today. on t

. >> when you mention utilities having a drop like that, astounding that could happen in a week wheren't seen anything spectacular in the bond market. in fact, long dated bonds, the yields have come down today. it's hard to put a point on what exactly is happening and what the mind of the market is telling us right now. people are very confused. for the next 13 days, all we'll do is debate this. we won't have any more information to give us about what the fed will do. >> i'm not sure how much of this is about the central bank at all, do you think? >> a little. i think what it's more about is a bunch of investment managers sitting around going, how do i get my 8% all-in yields or all in returns. it's not clear at all. unless they get really good earnings or some back up in the bond yields, they ain't going to get it. that is a big issue for them. >> this week calpers saying as a risk mitigation strategy pulling another $20 billion of its money out of stocks. >> guy adami, thank you, sir. have a great weekend. >>> there is much more coming up at 5:00. the "fast money" crew will talk to

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pimm: and if you like utility with your luxury, low, we have a bentley automobile for you and it comesprice tag of $260,000. ♪ scarlet: good tuesday morning. i am scarlet fu. pimm: i am pimm fox. we are 90 minutes into the trading day. let us take a look at how architect trading right now. let us take a look at stocks. scarlet: up near sessions highs and it follows as european stocks have come from losses. asia