Session today. Manile sectors are down today. Technology has been the highlight. Biotech once again. The very volatile Biotech Sector starting to move lower again today. We have a lot to cover over the next couple of hours. We also have a lot coming up. Were just hours away from teslas battery announcement. The stock pulling back in todays trade along with the rest of the session. Should you be buying before tonights big event. If you think movies like furious 7 are the only movie makers for i max, think again. The ceo will join us to give you the details on unexpected blockbusters and the country thats bringing in more Box Office Revenue than the u. S. Any guesses . Imax finally has movies people want to watch other a lot of movies look really good in imax. Kelly never backs down from a fight. I can vouch for that. Shell go toetotoe with the man himself, manny pacqaoi, ahead of this weekends big event in vegas. You tower over him. You could take him. I definitely could not take him. Ive tried to box, as you know. No way. No way. Im really looking forward to that. A lot of respect for him. A huge huge weekend coming up. Huge money at stake. Huge as we are trying to keep an eye on wall street where we are seeing this selloff pick up down 229 points. Thats what the dow is doing right now. S p down 25. The nasdaq down about 90. Whats traditionally been a strong month for storks itscks, its been flat. In our Closing Bell Exchange today, jim lowell back from advisor investments. Mark tepper from Strategic Wealth partners. Craig bishop from rbc Wealth Management and one Rick Santelli joining us from chicago. Jim lowell whats your version . A garden variety selloff . My version is that the Earnings Reports didnt give us enough of a catalyst top advance market gains much farther. The economic reports continue to maintain sort of a slow growth not no growth environment which is net good for longterm investors. There are certainly no obvious headwinds. Strong dollar i dont think accelerates from here. Certainly not based oen what we saw in the First Quarter. We put transitory issues of bad weather. Port shutdowns at least in relative terms behind us. I think this is sort of a market in search of momentum either to the up or downside. Today it looks like it is just choosing to run to the downside. Mark, you think that downside run could continue here as we witness a 10 pullback. First correction in four years going on . Yeah. Its been a while. Its been at least 3. 5 . Typically you see a 10 correction at least once every 12 months. We are looking at we do think there are some headwinds. We think right now you have a deteriorating earnings picture. You have stressed valuations where the forward multiples above 17. You definitely have some things working against you. Then you add in the fact that the dollars stronger. You add in the fact that theres looming Interest Rate hikes. That would be the perfect storm that could finally cause us to pull back. Were overdue for it. I dont want to interrupt but jim made this point as well. I want to be clear what we are talking about. For the earnings disappointments or downward moves you are talking about, listen. The quarter that were just getting looks like it is going to be better than anticipated again and maybe only energy is going to be in the red. So are you referring to the second half of the year where those estimates are coming down . No. Im referring to the current quarter. Were still looking a the a contraction in earnings of 2. 8 . I wouldnt call that great. Yeah, we are coming in better that expectations because expectations were neglectative 4 . Of course negative 2. 8 is going to be better. We are at a point right now where margins have pretty much peaked. Really the only sector left where margins can expand would be the Financial Sector. And the Financial Sector the margins of that sector will actually benefit as Interest Rates go up over the course of the next few years. Be that as it may, craig bishop you use selling points like this as a buying opportunity, arent you . Absolutely. To us volatility presents opportunities. I think with regard to whats going on in the markets, its really tremendous volatility. Being driven by a lot of noisy factors such as earnings. Dollar currencies, oil. But a lot of it really is fed induced from our perspective. Fed induced market volatility to us is something that constitutes a new normal for investors. Something that Going Forward investors are going to need to embrace as they manage their investments. To us definitely volatility breeds opportunity. Were looking to place money, also on the equity side. On this point about whats happening with Interest Rates, we seem to have broken out of the range. Dreg, where craig, where do you think we go from here . To me the range is you go back to november of last year 2014, when opec pulled away from the oil market. 10year notes were yielding roughly roughly 2. 35 . We dropped to 1. 65 1. 65 . I think momentum is due to the higher rates. A lot of uncertainty with regard to fed activities but to me as we move higher i dont see 2. 35 on the horizon. Bertha coombs is at the nasdaq. Before we get to rick here some of the biggest losers were seeing as this selling intensifies going into this final hour of the month. Bertha. Yeah. Were seeing apple near the lows. Nasdaq now down for its fourth straight week but remember we are coming off of an alltime high last friday. So were no up down about 3. 5 from that alltime high. Thats one of the things that traders are talking about, the fact that a lot of these names, a lot of these indexes are really stretched. So were seeing some folks taking some cash off the table. Apple is the big example here. Apple near the lows of the session here right now. Right now it is on pace for its smallest monthly gain in about two years. It had moved up to that alltime high. Remember four days ago record numbers on its earnings. Record sales of iphones. Record high. And now has pulled back this week ever since then. Weve seen that a couple of times this year. As apple reaches for those big highs, even as people say that the valuation there is still good. It really has taken a while to come back off of that. Biotechs right now are in correction territory from their alltime high back in march off more than 10 . More the month theyre off about 3 or so. Among ot worstthe worst performers. Big cap biotechs have been up for six straight months though. So again, some of these are starting to get a little tired. Theyve had a very long run. Few gainers today. Exstress express scripts one of the biggest movers. Whats interesting as well this selloff is happening as Interest Rates are starting to move a little bit higher. Do you think people are shifting positions . Does this have something to do with the feds rate hike . The pressures from that government report, 2. 6 year of over year . I think all of those are possibly. I personally think it is purely market logistics in a market that doesnt know where its value is. Consider the 29 sessions between 1. 86 and 1. 99 13 base points. Mid point is in the roughly low 90s. The low and high yield for 2015 about the same mid moint. 1. 94. You brakeeak out of a 29session range i would expect a little traction. We set last year at 2. 17. Thats where we settled at october 15. I have very little doubt thats the next level you are supposed to Pay Attention to. When i look at that. 7 month over month change in cost index same in q2 2, you have to go back to q4 of 07 to find a higher one. I think were all trying to mark the market to some fundamental. Even though the employment cost index was up a bit. I is us expect when the dow is within onethird of unchanged, the s p less than 1 up for the year it does not surprise me. Were meanly reverting back to last year. It absolutely feels like mean reversion. I started about a lack of momentum lat of catalyst either to the plus or downside. I think we are still there. I think this is a directionalist market unless and until we see some sort of concrete improvement or deterioration in the fundamentals i think we continue to just sort of chase our own tail. What are you going to do with this market jim . We continue to like europe. We think there the downdrafts definitely create buying opportunities. We like growth out of fidelity to pursue those gains. The manage we continue to think that selective buying in the mid and small caps is absolutely crucial. We certainly would not be buying etfs or index funds in the space. Too many risks in that big basket. But inside that basket still some opportunities to be had. Mark with are you looking at the nasdaq biotechs a is a leadership in some ways for what happens with the Broader Market next . No were not. The sector that were focusing on the most for leadership is financials. We really do think that the financials are going to assume leadership in the market and are going to carry the market over the course of the next year. Theyre the one sector where youre seeing fantastic earnings acceleration and youre actually they have the potential for margins could expand significantly as Interest Rates go back up. Techs obviously are a very important part of the equation but i do think financials are going to be the leaders. So your view that we might be in for a correction here would just be exactly what it is a pause before you resume higher . Yes. Long term, over the course of the next three months we think there is more risk than reward on the table. Were a bit defensive. We favor bonds over equities right now. When we look out 6 to 12 months we are very constructive on equities. We think this is a hiccup a pause before we reaction sell rate to the upside and we would be longterm holders of equity. Thank you, guys for your thoughts on todays mark action. About 45 little more than 45 minutes to go until the close here. The dow is down almost 250 points. How about that nasdaq . Down almost 100. Good for a nearly 2 decline on this session as we look to close out the month. People perhaps getting a jump on some of their positioning for next month. Coming up the earnings parade also marching on. Dow component visa aig and gilead. Expert animal cyst fromalysis from the pros. Later, manny pacqaoi talks up his fight against Floyd Mayweather this las vegas. The pacman stands to take home more than 100 million. What if there were only one kind of dog . Then it would be easy to know everything about that one breed. But in fact, there are over three hundred breeds of dogs. Because no one can be an expert in every one. An app powered by ibm watson will help vets tap Specialized Knowledge in the cloud for every breed. And whatever else walks, flies or slithers through the door. Ibm watson is working to make medicine smarter every day. eeeeohmumohweh hush my darling. dont fear my darling. the lion sleeps tonight. hush my darling. man snoring dont fear my darling. the lion sleeps tonight. woman snoring take the roar out of snore. Yet another innovation only at a sleep number store. Welcome back. Weve got 45 minutes left in the trading session. The selling intensifies here. The dow is down 223 points. We need to be down 259. If were down more than that then were negative on the dow for the month of april. Whats typically a pretty good month leading into may. If we do get red it will be the third month out of five weve been down. So much more choppy and negative sessions so far than weve seen in this rally. The nasdaq is down almost 2 on session. The nasdaq 100, theres only ten names in the green . 9 90 are negative. 10 are positive. Morgan brennan is tracking some of the biggest movers for us on this final trading day of the month. Hey, kelly. Check out shares of rockwell automation. One of the todays s p 500 leaders. The Industrial Automation company Beat Estimates for Second Quarter profit. It was helped by increased earnings in its architecture and Software Business this despite a slight revenue miss for the company. Those shares are up 5 . Different story for avon however. The Beauty Products maker falling short on quarterly profits with revenue below expectations thanks in part to a strong dollar and weaker demand in latin america. Those shares of avon down 6 . Lastly, imax. Shares of the bigscreen Technology Company in a Holding Pattern today, currently down just 1 . This despite imax beating on First Quarter profits. One point in the imax Earnings Report highlights china as one of its top growth regions. For the First Time Ever in this last quarter, imaxs Chinese Box Office exceeded the u. S. Box office office, 62. 9 million versus 59. 1 million here in the u. S. Joining us here at post nine in an exclusive interview, imax ceo richard gelfant. How much time are you spending in china these days . Not so much. For the first dozen, 15 years, i was there about 50 times. Now we have people on the ground in china, a chinese ceo. Maybe now only two or three times a year. A lot better. You figured out the strategy for klein now. How important is this going to be to your company Going Forward . It is important. As you said the box office there and imax for one quarter exceeded the u. S. Box office. But i think by around 2018, 2020 at the latest the Chinese Box Office will exceed the u. S. Box office. We were fortunate enough to get in early to make partners with the right partners to create a winwin business so were able to benefit now. But i think you will a he see a lot of that change affect the Entertainment Industry overall. What kind of headwinds do you face there . Obviously the Chinese Government has a say in what can be shown over there. Are there restrictions that are going to put a cap on what you can show over there . Well there is a quota in china on all cinema. And it allows 20 foreign films into the country. But it there is allows specifically 14 3d or imax films. Thats what the wording says. If you talk about 34 films a year. Plus were very big on playing local content. We play films youve never heard of such as wolf totem. It was a big hit for us this year. Combination of the hollywood films and inbred films gives us a pretty good slate. I did have a slowing down in orders in the u. S. For some of your new locations but a lots of big movies are coming this year. Some huge action movies. Youve proven it is not just nature documentaries that people go to imax to watch. But american sniper was a big blockbuster for you. It was a big hit. Everybody knew 15 was going to be a great year. Star wars the end of the year the avengers coming this weekend. Furious 7. Bond. It is a dream year. I think in the beginning of the year people were surprised by films like american sniper and 50 shades of grey kind of work out. Why do you think that . I think american sniper appealed to a new audience and older people are a great demographic. Think most importantly is a really good movie. I think good movies still work whatever time of the year they come out. Talk about your expansion plans now. Are you seeing any slowdown in locations . Is that intentional in terms of whats in the pipeline . No. In fact our backlog is i dont remember exactly. It is about 450 theaters so we have about 950 theaters open in the world now. 850 commercial. Weve been installing about 120 a year 115. So if you roll that forward our backlog will keep us going. Plus our signings are pretty strong, too. People really want the premium movie going experience, and especially with all the changes in home with bigger Television Sets gaming online all kinds of things. When they go out they want something really special and imax fits that. Weve been talking a long time and i maintain that you were in Technology Just waiting for the right content. I think youre there now. Dont you . I definitely think were there. You look at the Financial Results in the last couple weeks we signed a deal with disney for 12 pictures. A deal with warner going to show those star wars movies . Well show the ones in the next few years. I hope all of this emover time. Id love to watch all six of them over again. You might see this year because star wars is coming out kind of a marathon a star wars marathon. But in general when you release old movies theres lots of marketing costs to cover. In itself it is not a great business model. Unless they took care of that for you. Fascinating. Good to see you. Ceo of imax joining us today. 38 minutes left in the trading session here. Connelling back just a little bit, thedown down 215 points but the nasdaq still taking the brunt of the selling today down 1. 7 at this hour. Dows down 215 points. Next will elon musks new tesla batteries for the home deliver on their game clanging hype . Watchers tell you what you into ed to know when closing bell continues. Theres some facts about seaworld wed like you to know. We dont collect killer whales from the wild. And havent for 35 years. With the hightest standard of animal care in the world, our whales are healthy. Theyre thriving. I wouldnt work here if they werent. And Government Research shows they live just as long as whales in the wild. Caring for these whales, we have a great responsibility to get that right. And we take it very seriously. Because we love them. And we know you love them too. Good. Very good. You see something moving off the shelves and your first thought is to investigate the company. You are type e. Yes, Investment Opportunities can be anywhere. Or not. But you know the difference. E trades bar code scanner. Shorten the distance between intuition and action. E tr