Trading. We heard thats really where the big bulk of sales were happen pg. The nasdaq down about 11 points on the session. S p 500 gave up 6 1 2. Complete reversal from some gains earlier. We are still looking at, though, a good month of october. Lets get to bob pisani. Hes got all the highlights and low lights on this market. Oth over to you. We were just about in positive territory an hour ago and slipped in the last hour. Still, overall, a terrific month. Best month for the s p since going back to july. Lets take a look at the major indices and how were doing, oh, transports. 6. 2 on the upside. The s p 500, 4. 7 . I think thats the best since july weve had. Nasdaq as well, dow industrials up 3 . Russell 2000, small cap indices, up 2. 9 . Across the board. Three biggest sectors in the s p 500 are financial stocks, tech stocks and Consumer Discretionary names. Health care as well. Put financials, tech and health care together. Thats 50 of the s p 500. Look on the month. They were all up close to 4 . When you have everything up that well, i mean, its a remarkable move to have all the big three up, consumer discretionaries, the fourth largest group, that also was up better than 4 . In other words, every time something falls back another one takes its place overall. Big on the month, Airline Stocks big movers in the sub sectors. Retail stocks doing really well. Oil Service Stocks did really well. While exxon mobil is only up 2 this year, the real big movers having in those fraking plays and the companies that play into fraking services. Sl schlumberger, halliburton. The stocks have had a terrific year and another terrific quarter. All about the fraking industry. Back to you. Thank you so much. Want to get to the earnings that are just crossing the wire. Aig out with earnings coming in. Third quarter, 96 cents a share versus an estimate of 96. Dominic chu with the numbers and story behind the numbers. Over to you, dom. What we have is an earnings beat. Aig insurance giant coming out with 96 Cents Per Share in terms of earnings. Beating the average analyst estimate of 94 cents. Revenues, though, coming in just a little bit light. The number there, 8. 43 billion in revenues for aig versus average analyst estimates for 8. 4 billion. The stock is drifting about 2 lower in the after hours session. But overall were talking about a stock that has been up around 43 , 44 . The story of aig, yes, maybe just a little bit of profit taking on that revenue miss. Still, a stock thats been very strong in 2013, maria. Back over to you. Sure has. Thank you so much, dom. Aig ceo Bob Benmosche will join me exclusively in a few minutes to break down those numbers. The final trading day of october is in the books. What is in store for the month of november . Heather hughes, sun america funds. Jim mccant, ubs. Ben pace from Deutsche Bank wealth management. Our own rick santelli. I want to keep this up with you today. Do you expect this market to continue trading higher or are you expecting some head winds . Maria, part of us is trying to be respectful of our price targets. We kind of blew through our year end targets. These kind of up markets have a way of carrying momentum into the end of the year. Calm it window dressing effects. Call it what you will. See were definitely not selling any equities at this level. Were kind of maintaining where we are. Love to buy a little bit cheaper. Maybe 5 below. But i do expect this market to continue to have momentum in november, december. And you said, heather, the opposite. That we could see some head winds in this market. Some head winds, perhaps, in the First Quarter of next year. But it looks like theres a common target out there of 1800 on the s p at year end. If you note, thats only 2 higher than where we are now. We dont have that further to go. Again, i wouldnt even call this really a rotation from bonds to stocks or sector to sector. It may be an asset reflation trade where youre seeing across the board money inflows in the mutual fund space. Last week 11 billion in net inflows into domestic equities. 5 billion into International Equity funds. 3 billion into corporate taxable bond funds. Across the board participation out there in terms of liquidity and assets. Jim le camp, how do you see it . Pretty much the same way. I think the market looks really good. November and december seasonally are two of our strongest months we have Interest Rates that have come back down with the 10year 2. 5 . That helpings corporate borrowing costs. Seeing oil and gas prices come down a little bit. Should help consumers a little bit. Performance chasing is going to be what really drives us through now and the end of the year. Still have a lot of share buybacks out there, too. We have enough tail winds to keep pushing us higher. But when we get to january, i think we are going to run into trouble. The second year of the president ial cycle has always been very difficult for the market. So i think we have to be careful in here. The economy is moving along, but its kind of like a jalopy. Swerving all over the road. Moving slowly, still moving forward. One of the big stories of the day, rick santelli, was the backup in yield. Tell us what happened in the market today. It really was more yesterday than today. Even though weve held it. If you look at a two day chart it really says it all. Yesterday after the statement, we dropped down to a 247 yield. A very significant technical level. 38 retracement of the move in rates which monitored 136 basis points from may to september. Having that hold and basically settling up at 2. 55, i think is significant. If you look at the month of october from the Vantage Point of treasuries, 10year note yields the last day in september were 2. 61. Weve only shaved off basically a handful of basis points. The big story is, you need to factor this in, is that europe went from the disaster to stabilization. But do we get overly optimistic . 12. 2 unemployment in the ing aggregate eurozone. Maybe a week from today the ecb may ease. It came at an appropriate time where, of course, lack of taper is a dollar buster. The dollar definitely benefiting from the big drop in the Euro Currency today. Does 2. 55 bother anybody on the panel . Is this a level that these markets will start getting nervous with . You know, i think heres the problem, maria, the Federal Reserve heres the problem. The Federal Reserve board seems to be sending very mixed signals right now. The 10year treasury is really going to hold the key for this market. If we see that 10year treasury yield go back north again even to 2. 70 the market is going to get very nervous here because were getting mixed signals from the fed. Just a week ago, the base book. They say growth is slowing down. Yesterday they act like everything is Getting Better despite very obvious evidence to the contrary. I think the Federal Reserve board is starting to lose a little credibility. If they lose control of the bond market, you can kiss the stock market rally goodbye. Yeah. I mean, this really hasnt been Market Reaction to any sort of tapering or Macro Economic data that weve seen in the pags past. You saw the fed made somewhat dovish, slightly more hawkish comments meaning were going to continue quantitative easing for the foreseeable future just yesterday. The market still sold off. Youre not seeing a market really react. That tends to tell me that momentum may still be on the upside for the time being. But with the s p up 23 year to date, everyone is a little bit nervous here. All right. Well leave it there. Thanks everybody, appreciate it. Well see you soon. Want to check out shares of aig right now. Company reporting earnings in the extended hours tonight. The Third Quarter of 2013 after Tax Operating Income attributable to aig of 1. 4 billion after Tax Operating Income per share, 96 cents a share. Stock down. Ceo bob ben mosche will be with me. What does dan niles know about facebook the rest of wall street doesnt . Plus, haunted towns . Big winner of our day, long quest to find the best home in the spookiest town. Queen of real estate will be with me. Youre watching the closing bell, on cnbc, first in business worldwide. announcer at scottrade, our clients trade and invest exactly how they want. With scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everybody. I trade like me. Im with scottrade. announcer scottradeproud to be ranked best overall client experience. Welcome back. A month for stocks. The dow and s p 500 both hitting all time highs in the month of october. Nasdaq pushing toward 4,000. Look at these charts. Want to get to dominic chu getting a check of the sector standouts and the duds. Sure, maria. Usually october is a down month, hence that october surprise. Not this time around. Transpo transports were up nearly 6 . Among the s p sectors, really telecoms led the way with a gain of 7 for the month. Its best month since december of 2010. The two best individual performers were verizon and at t. Consumer staples was right behind it with a gain of a little more than 6 . Think kimberly clark. Think clorox. Worst performing sectors up for the month as well. Laggards were utilities up by only around 3 . Exelon and Southern Company among the weakest performers. Not that great of month for financials, either. Up less than 4 as a sector. Citigroup and bank of america among the least successful performers in that sector. Overall, still, maria, a pretty darn good month for stocks in october. Back over to you. Really was. Thank you so much, dom. Facebook had a great month as well. The Company PostedThird Quarter earnings yesterday. Facebook is reporting a beat on revenue and that stock spiked right after the close. Then quickly dropped when cfo David Eversman cited fewer teens are using the social media website. Is that why our next guest sold his entire stake in the last two days of facebook at 51. 21 today. Dan niles from alpha one capital partners. Dan, great to have you. Of course, you waited to buy facebook below 20 a share. Now you sold it all. How come . What a trade. Well, i think what was bothering me going into this trend, there were several things. Number one, expectations had gotten really high in front of this you remember, in front of june, nobody liked the stock. Now with the stock having doubled, everybody likes the stock. More importantly, when you look at the fundamentals, my thoughts were that, number one, the number of users that they were getting was slowing down. It had been growing at 45 year over year. Down to 18 the most recent quarter. The biggest thing being the number of adds youre showing to these users was really ramping up versus a year ago. That we thought would start to level off. This would start to lower the average revenue per user, which had really gone from 10 year over year about a year ago to about 33 in the most recent quarter. So those are kind of the numbers and the things that were bothering us. You know, thats why we sold the stock actually higher than where it closed today when you look at trades. That is fantastic. You have been so timely and so right on this company. So, then, the bottom line, then, dan, is growth is slowing . Well, its slowing. Really the thing on the call that got people concerned, the teen engagement, youre right, thats something you have to think about. But Biggest Issue was, they said, look, you know, over a year ago we started this thing called sponsored news feeds where were showing ads on your mobile devices. Weve been increasing the number of ads were showing to customers over this period of time. Going forward, dont expect that to really increase from these levels. Thats one of the three ways you can, you know, drive Revenue Growth. You increase the number of users or you increase the number of ads youre showing them. Or you increase the price you can charge. Well, users is slowing down. Number of ads probably is pretty consistent. So now all youve really got left is the pricing lever to pull. That makes it a lot tougher from here with the stock having really doubled in three months. Right, right. Are you out of facebook for good . Would you look at it if it got a lot cheaper . We actually today, we put in a bid quite a bit below where it is right now. If it got there, we would have gotten interested again. Because, you know, its the same as when the company went public and you had me on. I said, look, theres a difference between a great stock and a Great Company. Facebook has been a Great Company all the way from its ipo at 38 to below 20 back to these levels. The problem is, now expectations have really gotten ramped up. And youre going to see, i think, the Revenue Growth numbers tart start to go towdow. We like the company longer term. At certain prices were happy to buy it. What about twitter . Are you going to use some of this profit to buy twitter next week when it goes public . Yeah. I think twitter from what i hear, well see what happens when i get there, but the valuation theyre using on twitter makes a lot more sense than when facebook went public. And so from that standpoint, i think they sort of learned from the mistakes of facebooks ipo. And theyre trying to price it at an appropriate level. Theyre trying to make expectations make sense. The Company Twitter is actually a better spot now that theyre going public than facebook. When facebook went public, they had none of their revenues through mobile. They had to go through that difficult transition. Really interesting. So theyre pricing it better. Are you a believer in the growth story of twitter . Whats your feel in terms of fundamentals on twitter . Yeah. I mean, im a believer in twitter, but heres the things you have to remember. I mean, twitter has about, you know, facebook has about five times the user base that twitter does. But it has about 11 times the ad revenue. So i think facebook is a better montetization engine. When you look at facebook when they were roughly the same size as twitter they were growing a lot faster. I dont think the Market Opportunity is the size for twitter as it was for facebook. Twitter doesnt have any profits. Facebook, when they were at the same size, they were. I think those are all factors you have to think about. You know, fundamentally i do believe facebook is a Better Company than twitter over the longer term. Real quick on google. Amazing. 1,000. Lets talk on whats driving google here. Would you put new money to work in google at these levels . I would. Heres the simple reason why. Unlike for facebook where this transition to mobile really helped them, for google, its been terrible. They have google has not made a revenue forecast for the past two years up until this most recent quarter. Because the amount that they can charge, what they call cost per click, has been declining year over year for two years. They finally managed to beat a revenue quarter after eight straight misses with the most recent one. And so from that level, theyve been able to actually counteract that falling prices with better product out there, doing video ads on youtube, et cetera. And so at these levels, i think for what youre paying for the growth, i think it makes a lot of sense. And so, yeah, i would put money to work. I guess yahoo as well, you mentioned that that you like both more than facebook right here. Dan, always great to have you. Thanks very much. Youre welcome, maria, thank you. Dan niles joining us. Aig moving in the after hours trading session. Tonight the insurance giant releasing latest Quarterly Results a few minutes ago. Take a look at the stock. Ceo Bob Benmosche is with me speaking to me exclusively even before talking to the analysts, coming up. Were having a bit of fun this yearhalloween. None other than the real estate queen will join me for the big reveal on the house with the biggest boo factor for the buck. Stick around. [ male announcer ] eeny, meeny, miny, go. More adventures await in the new sevenpassenger lexus gx. Lease the 2014 gx 460 for 499 a month for 27 months. See your lexus dealer. My customers can shop around. 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