170plus billion dollar company. Thats a huge move. It is and its incredible those earnings still could blow it out. A lot to do with frozen. We talked about it yesterday but the reaction initially was not as strong as what weve seen throughout the session. Its held up well throughout a volatile session. Speaking of volatility, look no further than oil. Remember the big rally weve been talking about and the price of oil, it has reversed itself. Its now given back all of the gains that we saw the last two days. The price of oil settling down more than 8 today. For a period of time it was down 10 just off the lows. Well talk more about that coming up. More market moving earnings also due out in an hour. We have 21st century fox today, Keurig Green Mountain under armour yum brands. Dont miss a moment of it. Were waiting for the big unemployment number on friday. Right now it stands at 5. 6 and the Unemployment Rate is a big lie. Thats not me saying that. That would be the ceo of gallup of all people and he will be here to back that controversial claim up a little later on the show. Here is where we stand in markets. Its not really about the dow today. Its about the s p. That index actually negative as you can see there by about a quarter of 1 . A lot has to do with the really shocking move in oil just as everyone was talking about the 10 bounce over the last couple sessions. Today we are giving that back and a lot of questions for investors here as to what to do next. Lets talk about it. A lot to get to in our closing bell exchange. We have tom essay from sevens report, jack bouroudjian, a cnbc contributor, Kimberly Foss is back from imperian Wealth Management management. Tom, are we putting in a bout tom at this point in the price of oil . No i dont think so. I think what were seeing is your prototypical Short Covering rally. What got us to turn around was a big drop in the rig count and that carried over monday when we got some earnings that said there were all these slashing of cap ex budgets. Neither one of those things are going to materially reduce production in the u. S. In shale in the near term. Until that happens, i dont think were at a bottom in oil. I still think well see it trade with a three handle in the 30 range. What does that mean for the market, jack . You know i think whenever youre talking about Lower Oil PricesLower Energy Prices, youve got to be a bull. The bottom line is that whenever you see that happen the market reacts favorably. Dont take my word for it. Look at history, and history has taught us that. If that is the right analysis and i do think that at least at the very minimum well test the bottoms one more time. If that is the case chances are well be there for quite a while. Even if we see 5 and 10 snapbacks, this era of low energy will be so beneficial for stocks for the next six to eight months, i think we are going to be surprised. Kim, weve got the volatility we have to deal with. If oil is going to keep doing this, the stock market is going to keep showing this kind of volatility, what are you to do then for your clients as you invest their money . You know i think volatility is here to stay. With the geopolitical uncertainties, oil issues volatility is here. So what im covinge coaching my clients to do is control things we can control which is really the allocation of your portfolio. How much do you have to stocks how much to bonds. Diversification obviously. Globally diversified portfolios and microrebalance your portfolios back to ips levels. You need to rebalance back to that allocation. You need to be in these markets in the long term and that volatility pretty much is going to say here probably for the short term and probably for the long term but thats where the 1 percenters make the money in the market. They stay in through the peaks and valleys. Against this backdrop do you see Interest Rates starting speaking of bottoms, to form one and maybe the next move is higher or what . Well i think the last six trading days are going to answer that question. Today we moved right up to that 1. 85 level in 10s, 1. 86 is hugely significant. It was the intraday low from that crazy october 15th where we settled 28 basis points higher. At this point it looks like were snubbing up against yield resistance but all bets are off should we settle above 1. 86 . It looks to me as though were going through a digestive process whether its in the Foreign Exchange market think the euro. Digestion in the yen pretty much all year after its crazy weakness in 2014 and i think when it comes to oil, yesterday i talked about 51. 27. You need to pick something to gps. That would have been a momentum play if it closed above it. Of course, it didnt. Thats why we pick out areas to put your sell stop losses in. I agree with pretty much every guest, we are definitely bottoming in crude. It is just going to be a rounding process that takes time. Rick, if we get a strong jobs report on friday could that be an impetus to see those yields rise back above those october lows do you think . Oh absolutely. While the market is in this process, anything that pushes yields up, even if its some kind of shock like a strong number just like oil, it becomes a logistics game not necessarily fundamentals, but who needs to get in who needs to get out, and how big is the port hole for everybody to fit through. Jack the other thing happening today are some headlines going back and forth about about germany and greece and can you tell us how that might move the market for the next month or so . I think the geopolitical issues are affecting the market. You see them every day but the reality is that europe is not as big a factor as people really think it is. You know unless it free falls or we see a complete breakup of the eurozone. What we find here is that the u. S. Economy is the engine that is leading the way. The rest of the world seems to be following that path. And would you rule that out, jack, a breakup of the eurozone . You know what . I would, and you just mentioned germany. Germany knows that failure is not an option. That they are stronger much stronger, with a unionfied europe. If greece were to leave, i dont think its the end of the euro zone. If germany starts to talk about leaving, then we have some serious issues. Rick is assuming were putting in a bottom here a rounding bottom in the price of oil. I want to come back to you again on this. Plenty of guys are coming through saying maybe theyre going to start nibbling on some of the oil stocks. Maybe its time to start thinking about these guys. Are you at this point even though you still could see us go down another 10 on oil . See, i think thats a smart play. Tom . This is for tom essaye. Im sorry, rick. No, im not. Im being cautious. I think that the xle, which is the broad based energy etf, is trading better but until i think we have a bottom in crude, and, again, i think we could trade in that 30 range before this is all said and done, im staying away. Again, ill have people refer back to natural gas, whats happened over the past several years in natural gas. Rig count declined 60 , production went up 20 over the same period. I dont think the bottom is in. Kimberly are you guys buying in the energy space . Thats in our large value portfolio. Energy sector were buying in that as well as the Financial Sector as well. But here is the point, with respect to jacks comment, you know the economy of the United States, we are the engine of the world, and here is the thing. Were c plus in the World Economy but everybody else is a d and an f and guess whats happening . All that geopolitical issue, all that oil is all coming to the United States. Its going to push our markets higher whether we like it or not. I think this market is going to go higher and investors need to be prepared so that they can be in that market take profits, and then also make sure that when Interest Rates do rise they are prepared for that in their portfolios and stay in the markets in the long term. Rick what were you going to say on oil . I disagree with one aspect. I think a lot of whats going on with oil the last 10 or 15 below 55 was logistics. How the trade pans out with respect to margin and leverage. I think that process is left to be worked out. I would go with the true side of the business as being a buy and look for the commodities to play catchup. Could you discount the idea that we could go into the 30 area . I personally would, yes. What about toms point as well, rick that its more likely we still see production continuing to increase here keeping downward pressure on prices . I do think we have a supply demand mismatch no doubt about it but i think that was many dollars above us. I really think whats going on here is after trading commodities for a good chunk of my life they get beyond fum fundamental rationality, somewhat like stocks have the last couple years. I wonder if theres an oil vix. That sounds like something to buy as weve seen things move around. Something to ask jackie a little later. Yes. Thanks, everybody. Good to see you this hour. We have 50 minutes to go into the close and the dow is up 60 but as mentioned, a couple big names contributing to that. Disney visa, the s p two points lower, the nasdaq trying to stay positive. Coming up make or break time for 21st century fox, yum brands Keurig Green Mountain under armour they are all posting earnings. I dont know how youre going to get to all of those guys all tame. With i aa lot of help. The market responds the analysis, its all coming from our team of pros. Also Jeremy Siegel speaking with us exclusively. He accurately called dow 18,000. And airlines have been surging again today, no surprise to our next guest. She just upgraded delta and United Continental and shell tell us why coming up after this break. Stay tuned. Analysis, its all coming from break. Modest gain for the dow today with a gain of 52 points and much of that as we pointed out, is disney because of the blowout earns last night. That stock has been up about 7 or 8 . S p lower today. If we look at the ten sectors that make up the s p 500 index, you see discretionary Consumer Discretionary is the leader followed by technology. The laggard, one day they love energy and the next day they hate it. The price of oil fell by more than 8 in todays trade. That sector off 1. 6 . Theres an oil vix. Its ovx. Dominic chu is keeping an eye on all of todays movers for us. Lets start off here with whats happening with apple shares which did hit an alltime high in trading today. The stock is up about 65 over the course of the past 12 months. You can see up by 1. 25 today. So a nice green day for them. A tough day for ralph lauren. They reported weaker than expected Third Quarter results and trimmed its full year 2015 revenue forecast but it did raise quarterly dividend. On balance shares are down by 18 . Bad day there. Cable stocks moved higher after fcc commissioner tom wheeler detailed his Net Neutrality plans that will not include rate regulations, any of that type of stuff. Those cable stocks comcast is the Parent Company of cnbc. Energy stocks falling as oil prices plummeted during the price of the day. Whats bad for one industry could be good for another. Airlines, of course, that inverse relationship holding true. Theyre soaring on Falling Crude prices. United delta, southwest very much in the green. Back over to you guys. Dom, thanks very much. By the way, speaking of that oil vix, the volatility index for crude oil, you know the cboe index, when it gets to about 20 that gets our attention. Its yellow flag territory. Look at the oil vix right now. Its in the 60 range. We got a oneyear chart. Its up 5 today at 62. 5. Everyone talking about buying volatility last year. Buying Oil Volatility would have worked even better. Speaking of which, united and delta have been upgraded to strong buys this week by our next guest. She says the u. S. Airline sector is well positioned to show strong earnings and cash flow even if fuel prices do not stay this low. Savvy joins us from raymond james. Shes behind that call and also with us is jack moore from the street. Com who is less optimistic about the airlines. Welcome to you both. Do you feel any differently now that oil has behaved today the way it has. No and that was really our call. We saw oil moving back up and we expect it to move back up. Our estimates for 2015 preflekt a reflect a 70 brand price. This is a group thats profitable at 100, 110 brent. Even if brent is at 70 or 80, it will be a group thats profitable. The fact were down 8 in crude, now that were back below 50, does that change your call at all . It just makes it stronger. You know what youre going to probably have into 2015 is possibly a onetime cash windfall for the group. As long as the economy stays strong, we expect fares to hold steady and a lot of cash to be generated and that cash is powerful because it can improve Balance Sheets and as well as create a lot of cash to be returned to shareholders. A great example is in 2008 when delta in the recession lost 1 billion. Most of all of that was related to interest expense. By doing nothing they have just halved the loss. Maybe we can get free peanuts at some point. Why arent you as optimistic about airlines . The one thing they said thats true is these stocks work if the economy is working. One thing for united and for delta, 45 of their business is tied to the international markets, and, you know, the u. S. Is doing well. Id love to own southwest, 99 of their business in the u. S. Theres concern once you go abroad and both of those companies spoke yesterday about the weak yen and weak euro and how that was impacting their business and thats just the fx side. Theres also just economically visa was saying how spending was coming down on the travel side in international markets. I think that opens up a big risk. But you have to admit, jack these guys have Pricing Power right now. As the price of oil was coming down, people were saying why dont they bring the price of the tickets down because theyre making so much money and at least one Airline Executive told us here that pricing is based on demand for those seats, not on the price of oil right now. Not on expenses. Right, and i think that the pricing the pricing is relatively strong, but that doesnt necessarily mean that its going to continue that way, and i completely disagree that a Higher Oil Price certainly in material level up to 100 is good for these companies. You see oil coming down today and these stocks going up but when oil was going up three days before that these stocks were down 10 to 15 . You talked about the Oil Volatility index being at 60. These stocks are essentially oil derivatives. Its very risky to own these unless youre going to try to make a fundamental call which i dont think has much strength. Savi, is part of your point its less of a call on oil than some of the unhedged ones like american or alee gent. Investors will probably sell these stocks in a gut reaction but oil cannot go back to 80 or 100 without the Global Economy improving is our conjecture. In that sense it Oil Moves Higher demand is probably improving as well. So i think what you will see as they report quarters is that earnings holds up even if Oil Prices Move up. I didnt see savi do you have price targets on these guys that you put the strong buys on . What are you waiting to happen . We do. We have 30 upside from current levels on these stocks and, again, its really that as fuel prices move up some of their losses on the hedges youre right, will be less but their earnings are still going to be very strong and if you look at our 2016 earnings theyre based on 80 brent and middling Global Economic growth and we still have some very attractive valuations. So she sees 30 upside. Jack what about you . I dont see the same. I think you have a lot of risk. When stock was working when analysts didnt believe in it but one by one thief been converted and now you have 16 buys and no sells. Thats a precarious position to be in. You know Current Events you cant extrapolate that into perpetuity and i dont believe they have many levers to pull. I think theyve done an incredible job of restructuring, but i think that any kind of spike in oil and any kind of weakening in the Global Economy which were already seeing you could see 10 to 20 lower from here. Two smart people two different points of view. I love that. Savi, jack thanks for joining us today. Thank you. Heading to the close. The dow is up 70 points but thats not really telling the whole story. We should probably just put up a chart of disney to tell that story. Nasdaq is a little higher and the s p a little lower. And Jeremy Siegel coming up. Also up next our weekly beat the street segment. 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