Dont want to call it a bottom yet yet. The lows we achieved. 13 , the russell. Still not made a new closing high since i want to say march or july, july would have been the interday high. Thats the one to watch f it can come back, more of a sigh of relief, the big major averages following suit. Talk more about it, our Closing Bell Exchange for this thursday, joining us this hour, Heather Hughes from sin america funds, joe quinlan from u. S. Trust with us here at the big board today, Dennis Garthman from the garthman letters out there somewhere, lex luther from oneil securities and Kenny Polcari from oneill securities, yes, he shaved his head yesterday. Oh, wow. For cancer research. Got it, kenny. Have more on that coming up in a little bit. And our own rick santelli, still has his full head of hair joining us from chicago. Despite the bond market last week. Hasnt been pulling it out the last few days. Dennis garthman, start with us, every day, we can come up with a reason why the markets either up sharply as it is today or down sharply as it was yesterday. But in the aggregate is there Something Else going on . Why the volatility rue now, do you think . Bill, i wish that i knew, as i told people, only at this for 45 years, im relatively new to it, but this is the sort of volatility that i have never seen. I live my life in the pits in chicago. I hadnt seen anything like. This i traded all my life. Seriously, dennis . Well, not all my life, just from the time i was in my mid20 United States. Talking about equity test or commodities the if i canned income space kelly, im talking about commodities and equities across the board. The bond market, aggregates in movements i have never seen before. Watching the stock market move 3 down one day, down 2 , up 3 , up 2 , watching bonds go and yesterday, you had this enormous movement in the bond market and the back end and in the front end still very strong, moving almost half a percent, when youre watching crude oil move 3 and 4 down and 3 and 4 up, these are unprecedented. Maybe it takes maybe it takes a kid to be able to trade them, butera to make sense whats going on. Per spperspective on whats happeni. They need a straight jacket to tie around the market. Cop fusion around tapering, europe and Global Growth. The end of the day the u. S. Economy is leading the Global Economy forward. Europe is bottoming out. Decent number out of china, 7 growth. Good greet out of indonesia, india, at the end of the day, we are still buying, but high quality, the dividendpaying blue chip multinationals. Joe, you think that the fears about Global Growth slowing down, you think thats overblown, dont you . I do think its overblown, bill, the u. S. Is out in front. Europe is gonna they are gonna muddle along, woke. Up to the fact that the growth is slow, see more policy action. We are seeing kind of it calm down with the russian situation. The emerging markets in and of themselves, starting to grow. Beyond the brazilian election, another big emerging markets coming on and the markets peering into 2015 and Global Growth backdrop is improving. Dennis, just to go back to this for one second, are you i remember quite well a couple of weeks ago, you came on, said i dont like the way oils trading, dont like the way stocks are trading, i think we are going lower and thats played out. Has your view changed now that weve retraced . I trade only for my own account, kelly. I will tell that you two weeks ago, i went to newt travel i own some propane stocks. I own a little bit of apple, but hedged everything with ter derivatives and i remain neutral. Not bullish, not bearish, im neutral. Crude oil, i think, has a long way to gone at downside, which could be trouble which could be problematic for the stock market because of the correlation between the two, but absolutely neutral on store, i own a few things, i have them hedged. Although im dismayed by watching the market crumble and then fly, im still gonna stay where im a i may be wrong by staying on the sidelines or being neutral but i will let others make money during this period of time. Its beyond my we keep talking about crude oil, could that increase the consumer could that increase to spending as far as dollars in the consumers mockets over the Holiday Season . Some allude to supply or fracking for the drop in crude oil but also could be that global slow down, which was a concern last week doesnt seem to be there this week as we are trading back on fundamentals yet again. Kenny, we should mention, the market still seems to be extremely sensitive to any rumor of ebola. And as our art cashin just reiterating, off 80 points from the highs perhaps because of that should we just be moving through these, dismissing them as overreactions or is there still potentially a bigger, you know, downside concern out there, that is thing spreads . You know, i think what the market is telling, its clearly showing ankle irkts right . I think the move last week just fed on, way overdone. And so this volatility, back and forth that you see in the market is as its kind of snapping back and trying to find its level. I think right around 1950 is where its gonna settle. I dont think people should be surprised if they see us back off a little bit more because we had that very sharp vtype of a trade here over the last week. And so the mark lets some damage. So it needs to regroup. I dont think this is of a concern at all. I think the ebola thing, you know, is is gonna just cause anxiety, except i dont think thats going to be the reason that the mark its gonna sell off again. Rick, as we have highlighted, the volatility really exist in the equity market. You guys in the bond pit havent seen that much, have seen volatility on certain days but today is one of those exarms, equities are sharply lower and bonds are not as much in movement category. If you Pay Attention to what Central Banks are doing, you have to, of course, acknowledge their affect on the equity. That explains it i personally at not at all surprised by the volatility and i think its going to have a return and bigger and bigger portions the next several year, the very rough road of normalization somewhat occurs. You know, today, the dax had its first close since the ninth of october above 9,000. Everything is moving somewhat similar and you know, earlier referenced that maybe i was pulling out my hair based on the way we have sold off since last wednesdays rally, pushed yields down to 186. No i think im putting more on. To me, that was the absolute easier sale in all the 35 years ive been following bonds. I think a significant probability, a medium term bottom. Could turn into the bottom. Can he want cant make this assertion yet. And worth mentioning, central banking activity, whether you agree with it or disagree with it, build a foundation of volatility, no two ways about it. Right. Right. Central banks believed everything was as good as everybody on our panel says every day, they would definitely end some of this policy and its nee that ending really going to have the long goodbye and hello to volatility. This session actually what david laid out several weeks ago, rick, you echoed him on that i want to go back to the point you made last week. Last week, you were saying and many have been saying rightly all along, listening to what the bond market is saying, it is telling us something and now saying it was an aberrations. Accident say it was an aberration. I said it was a top of the market. Every market, even if there are adults in the room, has to have a high and low. We have a high and low in every market. That extreme a capitulation on those carrying short positions far too longful i still say the message of the bond market is intact, but just from a slightly different level. Heather, are you teegd positions . What are you doing there in sun america . The upside, days like now, today, but i dont think we are out of the woods yet, bill. Just because we have had the fast few sessions, including today, move toward the upside and we have what appears to may have been a very short lived official correction in the s p i dont think that necessarily means that we are gonna bounce back and reach alltime highs yet again. Dennis gartman, the most important thing for this market no to you figure out how to can trade higher, even as Oil Trades Lower . Very important, kelly, court lation has been almost 11. I have never understeered why that correlation existed. The past several years, as goes crude, so has gone the stock market, at least the past several months, you have crude oil make a new low again thats going to be problematic for the stock market. I own a few things, have them hedged, stein the sidelines and watchedville stocks go side ways for a week or two and stop this sort of volatility, look what we have done, while we have been at show, fallen 70 dow points thats extraordinary. Let the market sideways for a while and entice me to come back n until then, i think i will watch from the sidelines and go hit some golf balls. These moves, up 250, down 150, up 200 continues to create the volatility, shows the anxiety, right . I think you will continue to have it kenny, let you go, my wife sought picture of you last night after you shaved your head, she really like it and im a little concerned now, she is going to be asking me to do the same thing. Tell us about you guys raised a lot of money last night for charity. Listen this charity raised over 400,000 last night for pediatric cancer and this organization, started by a mother and father who seven years ago got the diagnosis their 13monthold son had a stage iv neuroblastoma with no opportunity four this child to get better and the parents absolutely said it, and no money for funding and no research and the government doesnt support it because pediatric cancersment apparently respect worth it, according to word. Parents started this organization and the last five years, raised over 1 million for Clinical Trials and research and today, their son is now 7 years olds, in remission, and perfectly healthy. Well done, kenny. Shave for a cure shave 4 a cure. Org if you want to make those contributions in kennys name as well. And what do you think . You kind of like it you gonna keep it . You know, listen, i have done this before. I do kind of like it my head has got a good shape to it, it looks all right. Yeah, but i would have killed for the hair you gave up last night. Coming back. Its coming back. Lucky you. Thank you all for joining us. Appreciate it very much. We have about 50 minutes to go now the dow up 225 points, supported by some strong earnings this morning from a number of blue chips. We are going to get much more after the close, including names in the nasdaq to watch out for, amazon, microsoft, just to name a few. Volatility really does continue this hour. Also, Dunkin Donuts getting dunked after sounding an alert on achieving its fullyear sales growth targets. We have duncan brand ceo back with us to explain whats going on. Its a first on cnbc interview come in a moment here. How much could investigations into shooting rampages like what happened yesterday in canada be hampered by new smartphones that prevent anyone, including police authorities, from accessing information on the devices . A Law Enforcement expert is here to weigh in when we come right back. E financial noise financial noise financial noise financial noise ameriprise asked people a simple question in retirement, will you outlive your money . Uhhh. No, that cant happen. Thats the thing, you dont know how long it has to last. Everyone has retirement questions. So ameriprise created the exclusive. Confident retirement approach. Now you and your ameripise advisor can get the real answers you need. Well, knowing gives you confidence. Start building your confident retirement today. Canada on high alert after yesterdays shootings in the capital of ottawa. Sarah daloff joins us with the latest development there is. Hi, sarah. Reporter hi, bill and kelly. It has been an emotional day here, beginning with the Prime Minister and members of parliament visiting the National War Memorial to lay a wreath and pay tribute to the fallen soldier. The Prime Minister earlier pledged that the country would not be intimidated by these attacks and today, we saw a shaken public who tried to make good on that promise. Returning to life as normal as much as possible here under a heavy police presence. Now, parliament was back in session today, nearly 24 hours to the home from went attacks began and sergeant at arms Kevin Vickers was greeted with a standing ovation. He is he is being recognized for his efforts to stop the gunman t when the shooting began, he ran to get a gun, shot and killed that gunman outside the caucus room. He kept a very stoic face as he was given that standing ovation today, although at one point, swallowed hard, appeared to be keeping his emotion from flowing out right then. Now, we are also learning pore about the suspected gunman, who we are told was born Michael Joseph hall, but changed his name after he converted to islam. He was considered a highrisk traveler by authorities, who recently took away his passport, worried that he was gonna travel overseas to commit crimes. Now, his parents released a statement today, apoll xrizing to the victims family, that Fallen Soldiers family, saying they have no explanation for his actions and saying, his mother saying i dont understand and part of me wants to hate him at this time. We are expecting a press conference momentarily with more information about the shooter and kevin vick, the man hailed as hero and have that for you coming up very soon. Back to you. Cell phone measures prevented investigators from investigate the phone. Fbi director voiced concerns over noaccess Encryption Software on new phones, including the i phone 6. Have we become so mistrustful of government and law enforce n particular we are willing to let bad guys walk away, following leave victims in search of justice . So, how would this investigation hamp felder the shooter in canada had an encrypted phone like, for example, the iphone 6 or even the company who makes it can get access to it to help Law Enforcement officials . What a thorny issue this is. Companies have been under pressure to increase and improve security measures, for obvious reasons, because of all the data breaches. Now that they have, Law Enforcement is crying foulsome there a middle ground to be had somewhere, do you think . I hope so. I think this is the latest chapter in the ongoing struggle between Law Enforcement and the communications industry. And by the way, most of the time, that struggle is healthy for our democracy. However in this case, i dont think it is. I think Companies Like apple, android and maybe others are touting privacy, but i think its more about profit. This can only obstruct investigations, terrorist investigations, criminal investigations, where time is of the he is tense sense f this was a Money Laundering case or Insider Trading case, time is really not a factor. Right. In Something Like kidnappings, terrorism, et cetera, minutes count and lives are lost because of time delay. What is going to happen, ed with this technology. Is it going to be ruled up constitutional . I hope not. Director comey a good man, fighting this fight, the law he is talking about from the mid90s, enabled law enforce tomorrow get into the various communication devices in a much easier way. That law now needs to be updated to include smartphones. Thats his point. Theres nothing illegal being done here. Its not about spying or fishing expeditions this is about actual ongoing investigations. Ed, im sorry to interrupt you, we will have to leave it there, we do have some breaking news on another topic. Thank you, edmund hartnett. We turn to our dom mick chu with news on the ebola outbreak. What can you tell us . Following a story thats been kind of floating around on twitter and other news organizations about a potential ebola case in new york city. We now have a statement from Bellevue Hospital and the new York City Department of just the new york City Government saying that today, ems has tack units transferred to Bellevue Hospital a patient who presented a fever and gastrointest nal symptoms much the parent is a Health Care Worker who has returned to the United States within the past 21 days from one of the three countries currently facing the outbreak of the virus. So, again, this patient is being tested for symptoms possibly of ebola. Again, the bell view, the hospital, saying that the hospital itself and new York State Department of health are ensuring that all staff caring for the patient will do so while following the utmost safety guidelines. This he also follow it by saying chances of the average new yorker contracting ebola are extremely slim. Ebola is spread directly by touching with bodily fluids. You cannot be infected by simply being near someone who has ebola. Now, women say this, to put it in a little bit of context, we had a market with the dow up around 300some points. Those market gains did ease a bit with these headlines crossing this afternoon. Now, some traders say that it was partially because of this story and the headlines with ebola, but of course, its a confluence of different things. We will continue to follow developments out of this story, but for right now, what we do know is that there is a Health Care Worker at Bellevue Hospital in new york city being tested for symptoms that may be ebola and again, bill kelly will bring you any mor