Quietly introduced yesterday and promises to be an in home assistant to respond to the voice commands. If you have sy ri on the iphone, do you need that . Stock continues to lag. A lot may be riding on the surprise new device. What its about and what it means and brings to the table here in technology. Yes. We will. And now market where markets stand in the final hour of trade. Back and forth today, up and down on the back of the payroll report. Right now, the dow off 8. Is weaker by about 1. Nasdaq off 13. We should mention, of course, yesterday at least the dow and the s p closing at alltime highs here and just slightly below the levels for right now. Musics like game of thrones, isnt it . Parallels, im sure. Lets get to the Closing Bell Exchange for a friday. We have jeff taylor with us today. Ken mahoney, mike laguni, heather loo mismis and rick santelli. Heather, what did you make of the jobs report . Pretty strong. I think it continues a long trajectory of pretty good trends on jobs and encouraged to see that development. Ken . Yeah. I think its going back to this old wall street saying like this. When markets climb, they take an escalator. But when stocks come down, they come down by a way of elevator what you saw a few weeks ago and whats surprising and how strong this market is, we took the elevator back up again and we have a vshaped Recovery Time and time again and we have to live with the volatility and embrace it. Tie it back to the jobs report. Jpmorgan and others says maybe within the next year, why does that have something to do with the snapback of markets or no . I dont think so. I think it feels the fed tightening is a ways off and probably think Janet Yellens company weighing longer for more evidence that we have a runaway economy. Jeff taylor, would rereally want obvious, we want stronger jobs reports and people working. But from an economic standpoint and the Financial Markets and so forth, do we want that much stronger . Because that means the fed is more likely to be raising rates sooner rather than later. Thinking as a market person now. We always want to see a strong jobs report and what stook out to me is a sixyear high of 25 to 30yearold aim demographic of employment and we track the employment population ratio. Its a 76 in the month of october which, again, a sixyear high. If we start to get that age group back into the Housing Market, and they start to be employed and start to actually firsttime homebuyer takes advantage, that could really ultimately start from a broader economic perspective, start to really be a catalyst or the Housing Market coming back and a broader economy. Jeff, you have an interesting point here, though, about one of the more difficult pieces of the labor market recovery. Talk about the difference between a lot of jobs creating and have created here today compared with the ones that were lost. Great point. So the jobs are created today are about a 40,000 a year annual salary. Six years ago there were about 60,000. So thats a huge deal. Thats a third. Looking at situations of people saying i want to make a significant firsttime purchase, a house, a car, the savings are much less and it is harder although the jobs numbers are improving, where theyre putting in the bank for savings and big purchase, thats not necessarily translating into the savings account. Yeah. Mark, obviously, a very volatile month of october for the u. S. Equity markets. November not so much. What is the next catalyst youre looking for to move this market and which way do you think it goes . Well, bill, i think directionally upward over next six and 12 months. Were back up to where we were in the middle of september which is i think at the intersection of full valuations in the u. S. Equity market that demands good news and todays report while on balance i think pretty good it met expectations in terms of what the market demands given a 16 times forward multiple on the s p 500. Do you think we just meander meantime . I could see us in a fairly wide trading range that grinds higher predicated upon Earnings Growth. I think that we have seen the best of market multiple expansion driving equity Prices Higher and means more demand placed on Earnings Growth and so far we havent been disappointed on that front, certainly for q2 and q3 an continuing to see mid to upper single digit growth thats where it can grow commiserate with. Rick, theres a whole transformation happening here and i would like if you can the message its sending. Stronger u. S. Dollar, the steady drift upward in u. S. Interest rates, whens happening in the oil space now. I mean, what is the message here . Well, i think the message on everythings terrific. Its all about the American Energy renaissance and i think were writing a chapter of repricing global oil and even though our oil is fungible and its not necessarily to make prices drop dramatically here, if youre the big boy and youre throwing in, if we get exports and i think the new congress will consider that, then you can make a difference. I think we are changing the price structure of energy for the next generation. Thats a good thing. Higher or low, rick . I think lower. I think the technology is just amazing. Yeah. And, you know, all the stories about fracking, contaminated the environment, you know, theres stories out there and independent studies finally getting done by major universities that show that it isnt the technology of fracking thiss a problem. Its the state of how they build the wells so, of course, you are some uses for the government. This is one of them. Just like building a house. They need to have some of this signed off on. In terms of Interest Rates, today it was easy to tell if the market was happy or sad with the quality of the jobs report because Interest Rates dropped like a rock. And i think that says it all. Its good but not good enough. And with regard to any of the other issues on the dollar, listen, i think that the dollar going up, ive always thought that id rather have a stronger dollar verse a weaker dollar. Theyre putting the dollar index where its at. Im scratching my head a little bit at Interest Rates and seems like, again, while were still not quote unquote there, more and more people are looking through the details of the jobs report and even sort of an increase in wages saying, you know, signs are pointing toward the fed moving next year and not if markets pricing in anything hawkish and do you think its the jobs report today or Something Else in the world that would have pushed rates lower . It was the jobs report at 239. We were basically down to 239 and then 231. The boon acted the same way. The dax. The equity markets around the globe acted the same way. It was a good improved number and once again, the u. S. Economy is better than the other economies of the world. Are we supposed to be happy . Relative e value igss only take you so far. We need 400,000 jobs to make a dent in the 92 Million People that arent looking for work anymore its a step in the right direction but they have thrown everything including a volkswagen and kitchen sink to get it going. It really isnt enough. Yeah. We need free toasters now, as well. I think that ricks point also, we have so much slack in the labor market, until thats absorbed, we wont see a rise in the wages. Thats going to continue to hover flat and we have to see that slack taken out of the labor market. Let mess move on to investment sectors, ken. Im sorry. Heather loomis, would you buy energy here . If you buy ricks notion of repricing the Energy Structure here in the United States, in fact, globally, would you buy energy here . Is that good or bad for the industry right now . Right. Well, we are looking at a bond market perspective and energy outplaying the high yield portion of the economy and much more leveraged and we are not buyers of the energy right now. Ken . You know, we think oil is a story for remainder of the year and for next year. And if you kind of look at it, look, we know oil prices are low and not ephemeral. By january, going up again. No. We think it could they this range for a while. Think about the compounding effect as if youre going to the mailbox every day getting a check of the government. Thats the stimulus involved. We think its a net positive if oil stays down for extended period of time, start seeing, you know, revisions for gdp, earnings for companies, its a really, really net positive. You know the capx point here, ken. The ton of the Capital Expenditures that u. S. Corporations make in this company contributes to gdp and from the energy and production space so you take some of that offline, you will have a drag. Right. But two thirds of the economy is consumer bases. Particularly feeling better about it going to the mailbox and get that extra stimulus check in the form of the foreign tax of oil and i think its a net positive and an offset of capx spending of companies. Heather, quickly go back to the question of rick an i were debating and love your perspective. Why did Interest Rates move lower on the back of the jobs report and shows if not amazing progress, steady progress of conditions of the fed to respond to next year here. I think it was the waging component of the jobs number that people were focused on because that showed about 2. 1 year over year growth and from the perspective of the market, that wasnt enough to push the feds hand towards tightening so you saw the fed funds future pr. Got it. Thank you all, folks. Have a nice weekend. Thank you. Thank you for joining us. Thanks, everybody. Lets send it over to dominic chu with a quick market flash for us. Were watching shares of allergen saying if valiant pharmaceuticals were to make an increased bid for the company, the board would consider and repond to it in due course. Earlier today, bill aikman who is making or trying to make a hostile takeover bid for the company said that valiant could raise the offer. Allergan shares down by about 1 . As for valiant shares, down about 2. 5. An interesting new piece to the back and forth, kelly and bill. I love that. Hey, if you make a higher bid, we might be willing to maybe. Entertain that one. Pay us more. Yeah. Love that. Thank you. And the markets still under pressure. The dow off about 11 points. Same for s p and nasdaq, as well. After hitting record highs earlier this week. Coming up, what a crazy story. Amazon very, very quietly rolled out this voice activated speaker yesterday. Connected to the cloud. Its called the echo. Get this, buying the digital assistant is by invitation only. You heard us right. But will echo even move the needle on the stock thats down 25 this year . Pros will weigh in on that coming up. Up next, magnum hunter, maybe thats because oil is bounding back, as well. Good news to a shale producer like magnum and the ceo gary evans joins us when we come right back. Stay tuned. Welcome back. Crude oil trading to the upside today, closer to 80 level than 75. Jackie deangelis watching things for us. A pop at the close for crude oil. We finished today at 78. 65. Technical buying and a big move in heating oil to lift crude oil higher and i dont want to overstate. This is a pop that traders expecting for quite sometime. Before we potentially take that leg lower, you did have slightly weaker dollar today and again 87 handle is not a weak dollar. Still under 80 right nouchw. Traders saying when the sentiment turns bearish, it is time to buy the trade and thats what you saw as we head into the weekend here. But traders saying that we could see more volatility next week. Watch for that. Back to you. Thank you. We certainly will. Plus the next guest divested more than 70 million in the Oil Properties and almost completely exited the oil space. Having said that, though, we want to talk about shale oil and what it means to the economy. Joining us now for what the low coast of shale means to the industry, ceo of Magnum Hunter Resources joins us, gary evans. Good to see you. Good to see you both. Thank you. What happens to the burgeoning Shale Oil Industry . Are you guys your own worst enemy for producing this and much pushing the price down . Well, theres no question that our industry has a floor. We cant continue to drill wells at lower prices. Id think that youd have to get prices down in the 65 range to cripple industry and i think what saudi arabia is trying to do here in the u. S. Why do you think theyd want to do that, gary . We have taken a lions share, a chunk of their production. You know . We are not importing nearly as much crude oil from saudi arabia as two, three, four years ago so they can only afford this for a short period of time and thats what the market is missing here. This is maybe a six month at most a year situation an youre not going to cripple this industry. Our costs keep coming down. Fortunately, we made a decision about two years ago to exit most of our Oil Properties so we have sold over 700 million of our oil and primarily today 65 , 70 natural gas. I was going to ask you why the sale now . Do you know something we dont . Do you feel like youre sitting at the top . Im negative on oil over two years. We put in a lot of floors, protect us. Like today, even though oil is 78 a barrel, im close to 100 because we hedged our oil and were down to just 3,000 barrels a day of crude oil and the company producing 32,000, 33,000 barrels a day net and small percentage of the production. We are a gas company and thats where i think the future is for the oil and gas industry in the country. One more question on this. Are you saying you dont think you guys can make money in the Shale Oil Business at these prices . No. Down to 65, 65 is where i know. But you said you made a decision two years ago to get out of the business. Mainly because i felt like oil prices were too high, they would drop. We were able to sell the Oil Production over the last two years over 700 million of properties over 100,000 a flow oil which is a premium price. Its fascinating. Im thinking, as well, about, you know, the moves that harold hamm made at continental to not be hedged. You said its because you hedged benefiting. What did you think about his move . Im sorry . What do i think of what. The move of harold hamm at continental to take off the hedges and going all in and betting frankly the oil price will go higher . Its a huge bet and, you know, i think we all recognize that crude oil is needed throughout the world. The economies, though, in china and india and europe, theyre still not doing what they were three, four years ago. The United States is an anomaly looking at the rest oflts world and thats because we have such cheap energy prices. This industry bailed out the economy bringing all the natural gas, bringing the crude oil, thats allowing us to have the Industries Come back to the u. S. And thrive. Its our business is a bet. Were betting drilling wells and prices. You can hedge the bets by taking hedging risk and going unhedged and Certain Companies have different opinions regarding this. Youre diplomatic about that. Lets talk a moment about natural gas because to some degree its had the same story line that shales having right now. A lot of promise and so much supply out there that the prices were depressed. Theyve starting to move higher now. Do you think thats for real and where are they going . Natural gas for the next 12 months is totally dependent upon weather and so when you give us a cold winter, we have high natural gas prices. Mild winter it is low. However, long term, which is what i have to do when im building this company with my Management Company is were bullish on natural gas long term. When you look at all the huge industries coming back, in beaumont and south louisiana, 1. 5 billion chemical plants and theyre confident to have a longterm supply of cheap natural gas. 4 a gas, which is where we are today, i locked in this morning 4 gas for calendar year 2015. Our rates of return of 4 gas 80 to 90 . We love 4 gas. Sounds like it. A final question and thinking about the impact and saw the housing boom and bust and did tremendous damage to the u. S. Economy. Are there any hidden risk, leverage, et cetera, gary, you see from the oil price boom and bust were not fully aware of yet here . Well, its going to take one thing about our industry, its very, very resilient and the more we drill, the more we understand the shale formations, our costs come down and i think thats a big fallacy that the middle Eastern Countries are making. If they think theyre going to drive this business out, they got another thing coming. We continue to drop our cost so we can live with lower costs and the industry is Getting Better with our technology and were able to drive our total finding costs down and the consumers can have a Lower Oil Price and lower gas price. Wow. Gary, we dont wish you ill but im hoping for a warm winter this year. Im sorry, buddy. Im sorry. Im hoping you all have got to use so much heat you cant stand it. Okay. Good to have you with us. Thank you. Thank you so much. Thank you. Gary evans. Fascinating stuff. 40 minutes to go. Dow off about 20 points. Art cashin reports its still early and pressure in terms of orders on the sell side here as we head into the close. I love this story. Amazons new echo device, has it fallen on deaf ears already . The voice activated speaker connects to the cloud, promises to be an inhome digital assistant. Sounds like siri . Thats why someone of our next guest calls it a dud already. What do you think . Our live poll is opening right now. Tell us if you would buy amazons echo. Go to cnbc. Com vote. Later, Warren BuffettsBerkshire Hathaway with numbers after the bell and dominic will deliver them when they hit the tape. Thats all straight ahead. Theyre still after me. Get to the terminal across town. Are all the green lights you . No. Its called grid iq. The 4 51 is leaving at 4 51. They cut