Today alone. Brace yourself for more serious weather. Mudslides possible on the west coast. Rain and snow in the east. Lets go down to sue at the new york stock exchange. And you know we have another triple digit down day for Dow Jones Industrial. Part of that is linked to the drop in oil. Art cashin saying not only the Energy Stocks under pressure but that has spilled over to financial stocks. They are worried about the high yield debt that some banks own concerning energy. Right now the Dow Jones Industrial average off 103 points. The nasdaq is off 31. And the rus russell 2000 is off almost a third of a percent. Followed closely by the dow. Oil tanking hitting new lows of the trading session down almost 4 on wti and thats 3. 5 on brent. Bob pisani joins me on the floor of the new york stock exchange. Just the under pinnings of the market dont feel good today. Look at chevron. 50 of the 150 points in the down side. That is exxon and chevron. There are dozens of new lows in the Energy Sector. Here is a few including chevron down about 3 . That is a big move to the down side. We are sensitive to the markets but today there is actual news out. Opec reducing growth guidance. Iran talking about oil. And weekly inventory levels higher than expected. There is actually news around oil here and a reason we are moving lower. The tape is very sensitive to oil. I want to point out the stock market has done darn well. Oil dropping 40 this year. There is the s p 500. We are just off historic highs. Dropping oil overall has not been any disaster for the stock market despite the decline in Energy Stocks. Airlines great movers today. Jet blue good metrics for november. American did, we had good news overall. The airlines are going to make more money in 2014 than they thought and more money in 2015, profit levels are way up. You were just talking about high yield etfs. I want to point out new lows. There is where you buy in. Much of that, of course, is shale plays about 15 or 16 . Those etfs are seeing very heavy volume today. Thank you so much. Ill see you again in just a little bit. Now to a major ruling that will have huge ramifications for wall street and investors. It involved Insider Trading and kate kelly is in new york with the details. A victory today for at least two former traders convicted of Insider Trading and for others who argue that Insider Trading law in general is too vague. In a harsh assessment of the case work by u. S. Attorneys office in the 2013 Insider Trading and conspiracy cases against traders todd newman both of whom worked at hedge funds, a threejudge panel in the Second CircuitAppeals Court found the government failed to provide sufficient evidence of the crimes and reverse the convictions entirely. A key issue whether the traders knew that Company Executives who provided the Material Information they later traded on were receiving some personal benefit from the Information Exchange and whether they knew that their original sources were violating duties to their companies to begin with or kaefls they were affiliated with. Today the Second Circuit argued the two things never occurred or if they did the government failed to prove it. Either way they didnt make the case. When it came to personal benefit idea argued the circumstantial evidence was too thin. In an exchange of career advice as it occurred in one of the cases here or a friendship from church were not sufficient personal gains in the legal sense to suggest a legitimate Insider Trading scenario. So interesting findings all around. Absolutely. We are going to talk about that. Stay with us. In just a few minutes. Breaking news in the bond market. Rick santelli is tracking action. What kind of grade is it going to get . This is one of the better options. B for boy on this auction. Lets go through the inturnles. Its not really a ten year auction. It is the first reopening of the yield of the 21 billion, 2. 214. The one issue market was trading 2. 215. The best bid to cover 2. 97 since december of 2012. We also had one of the best indirects at 53. 8 since december of 2011. Where is the fly in the ointment . Third lowest going back to august of 2012. All in all it really was a solid auction and tomorrow will be the finale with 13 billion 30 year bonds. We will bring back kate kelly to continue the discussion on Insider Trading. Brian sullivan who is not a lawyer. He doesnt pretend to play one on tv but does have a law degree and Michelle Carusocabrera who wrote about why Insider Trading shouldnt be illegal in her book you know im right. I love the stars. Look at that. Let me start with you, ron, if i might. What is your reaction immediately to this decision today . I think it has broader implications in the sense if you look at the steinburg case where the person who gave him the information about a particular stock said he never told michael that it was, in fact, in some way gotten potentially illegal. It was second source information. There is a chance that that decision could get overturned. The mar toma case is of different ilk. I think this does have broader implications for some of the cases that may be pending upon appeal. The way in which the judge rebuked the prosecution is extremely important. They did not prove there was a material benefit. The judge said in this case as i understand it that the tippy had to have known the tipper was breaching a duty and the tipper benefitted you want to play act . Yes. Lets do this. You are the ceo. You are the intermediate yare and im your friend. We are going to miss earnings this quarter. Thats not a good example. You are going to buy xyz corp. We have adult beverages and cocktails. I have no idea where she got the information. If she says the ceo gave me this i know im locked in i cant do anything. If you tell me this, i heard this company may get bought there is no duty between us but there is between you or i have to pay her money or give her something of material benefit for that information and the judge said neither of those things is true. If i know you are the ceo that told her then im in trouble. Kate, you want to jump in here . So tyler there are two schools of thought here. By the way, in terms of next steps this is obviously a tough day for prosecutors there is the option of the Justice Department solicitor general to the Supreme Court on appeal. Whether or not they do that will be very interesting. Im guessing there argument would be and i dont know that if you make these burdens so high to prove the material benefit to prove that there was clear cut knowledge of violating your obligations and judges obviously differ on this, many judges in new york alone differ on this, if you make it that difficult Insider Trading could go on freely and it wont be able to be prosecuted. Really that is the judicial dispute here i would argue. You maintain that there is a very bad assumption that if you allowed people to trade on knowledge that they had that it would be bad for the market. When i interviewed Milton Friedman he convinced me Insider Trading should be legal. The more people who have more information who trade on that stock will drive the stock to a much more accurate price much more quickly. He thinks it served essentially as price controls. I would add another layer that there is this assumption that somehow you can make the market fair. Remember that there are hedge funds that have kids that they pay to do nothing but sit there all day long and read every filing that crosses from every company. Do you think as somebody who works ten to 12 hours a day at some other job do you think you are going to compete with those individuals . Its fair you argue that no information could be unfairly acquired . Absolutely. Thats right. No information. You can have companies can set rules within saying when you find out you cant do it. If you go back to 1997 when the conviction of insider trader because he leaked to a trader and ultimately i pleev his conviction was overturned if you look at misappropriation theory you have to have a fedushiary responsibility. There can be people who obtain information unfairly. There is no such thing as unfair in this country. She is saying that the dissim nation of that information and the trading upon it brings the markets into the new equilibrium which is probably inevitable. I understand where she is going with that. On the other hand its hard to argue that in the shorter term there arent folks that are disadvantaged by the Material Information. Do you remember during the whole scandal there were complaints if you started reading, they were mad that some people that six people had been told about one particular piece of information because when the event happened the stock had gotten there. Imagine six people told this information and the advantage was gone. You are using static analysis. The benefit aspect is what is new here. The duty thing existed. The whole idea of what institutes a benefit, personal relationship, career advice. I bet you guys lunch, i bet this does see the Supreme Court because this is a big change and the lawyer for todd newman who argued this is on street signs today. Benefit trade goes back to the 80s. We got to go. 69 say no Insider Trading should not be legalized. Hooray for 31 . I think you should go online at cnbc. Com, blog about this and have an online chat. I think that is what you should do. That will be fun. I think that will be fun. Or we can encourage our viewers to buy michelles book. Take it away, dominic. I am going to go read michelles book. Keurig Green Mountain shares the Company Acquired launching man coffee and tea which produces gourmet coffees and a teas. A little caffeine in the stock today. Yesterday we told you about the latest problems surrounding the f35 fighter jet. New developments today and jane wells joins us with the latest on those. Its a weird one. We reported that Luke Air Force base was repainting a lighter color. This might be an issue for the f35. The jet might not be able to handle fuel that is too hot. That story created an uproar from here to arizona to washington. The pentagon, the air force say there is nothing wrong or special about the f35 when it comes to fuel temperatures. There are no restrictions that are any different than any other jet. We are told the crews at Luke Air Force base were trying to think proactively to come up with solutions to potential problems. When i asked why are you spending to repaint trucks i was told the base was trying to think ahead as it ramps up. In the current Budget Approved there is funding for four extra Lockheed Martin f35s. And that will bring for next year a total of 38. Thank you very much. If you are on the east coast you probably are just drying out from yesterdays noreaster. My home this morning was snowing. Got heavy rains and flooding streets in boston last night. There is more wet weather on the way. Meanwhile, if you are out on the west coast you are definitely not off the hook but the wet weather might be welcome in some parts out there. Lets go to carl parker with the weather channel. The snow is still coming down across new york state. This is a Long Duration event going right through today and tomorrow. Lets take a look at the model forecast and show you this area of snow that really does not move very much at all. We so more of that again right into tomorrow. Its going to be lighter tomorrow but in areas where we have had as much as several inches, even a foot of snow. That is northern and western parts of new york state. The other big story is this major storm coming into the west coast, Tremendous Energy there and as that comes in the day today and then into early tomorrow we are expecting to see not only heavy rain there in northern and Central California but possibly some severe weather, very gusty winds and there is going to be a lot of snow in the Higher Elevations in the west. Look at this wide spread area of five to eight inches of rain. Back to you. Thank you very much. The retail crystal ball which companies are seeing future demand for their products. The stocks that will benefit straight ahead. Three big predictions for apple in 2015. Thats ahead on power with the dow down 136 points. trader vo i search. I research. I dig. And dig some more. Because, for me, the challenge of the search. Is almost as exciting as the thrill of the find. announcer at scottrade, we share your passion for trading. Thats why we rebuilt scottrade elite from the ground up including a proprietary momentum indicator that makes researching sectors and Industries Even easier. Because at scottrade, our passion is to power yours. E financial noise financial noise financial noise financial noise were for an opens you internet for all. Sing. Were for creating more innovation and competition. Were for Net Neutrality protection. Now, heres some news you may find even more surprising. Were comcast. The only isp legally bound by full Net Neutrality rules. Welcome back to power lunch. The dow is near session lows pressured by weakness in the Energy Sector. You can see the dow down about 140 points. Not a surprise that the two biggest laggers are chevron and exxon mobil. Goldman was downgraded to a neutral by analysts on valuations. A bad day for the dow so far. 14 days now until christmas. Is your Holiday Shopping done . Has it started . The main brand l. L. Bean struggling with a boot back log. Sales of the classic boot are so stro strong it is a big boot problem. Those are great boots. A close look at supply chains can indicate strong or weak spots for the broader economy in the coming year. The supply chain index is out with a new report analyzing performance of some 74 Companies Representing nine market segments. Ben gordon joins me here. He is founder and managing director of bg strategic advisers. Nice to see you. You recently bought a shipping company. Your Company Bought a shipping company. Obviously you are bullish on logistics. What made you make that move . So we have two businesses. We have an Investment Bank that does mergers and acquisitions. Bg strategic advisers. We have done over 200 deals. We have a public Acquisition Company which just bought a shipping company last week. We are bullish on the market for a few reasons. Transportation is kind of the Rodney Dangerfield of the economy. Totally. It gets no respect but a great leading indicator, represents 10 of gdp. Many people think transportation is a great way to get a window into how the economy as a whole is doing. You had a couple of points that you wanted to bring up. As we look into 2015 obviously you are bullish. You say cycling, consolidation and innovation are three of the points you are watching right now. What is cycling and what does that mean as we go into 2015 . Cycling is the shift. Most people think of transportation and logistics we think of trucks, railroads, ships. Over the last 35 years the biggest growth driver has been asset logistics. Freight forwarders, truck brokerabroker age companies, theink of them a like travel agents for freight. Whats changed in the last year or last three years we have cycled into the asset based side. Trucking, shipping, railroad are outperforming. This year logistics is up 10 . Truck load and ltl are up. There is also consolidation on a number of companies have been inquisitive, xpo, echo. Innovation, how much of that has to do with e commerce, e technology out there. Right now we are looking at the Holiday Season in retail purchasing. As online purchasing is up 16 year over year that drives growth for Logistics Companies that handle e commerce fulfillment. There are other companies, too. As an example e bay bought a company that does e commerce fulfillment. Those kinds of companies are doing great and they are poised to benefit from the growths in e commerce. Its the back of the house and not the front of the house. Those companies are great ways to benefit. Thank you so much. Very interesting conversation. What a year it has been for apple. The stock up 40 . Record highs there. New iphones and apple pay. Whats next . We have three apple predictions for 2015. Plus up next power pitch. An entrepreneur crowd funding a new market. We are the e trade of Real Estate Investing. Will this super panel bank on his idea . How do you ascertain getting all the deal flow to you . I think every investment cycle has three people, innovator, imitator and idiot. Or call it a fixer upper . Stay tuned to vote live. Are you in or out on this weeks startup. Go to cnbc. Com vote right now and get ready to start voting. My baby drove up in a brand new cadillac. Look here, daddy, im never coming back. Discover the new spirit of cadillac and the best offers of the season. Lease this 2015 standard collection srx for around 359 a month. The getaway vehicle for all the confidence you need. Td ameritrade. You got this. Theres a difference when you trade with fidelity. One you wont find anywhere else. Onesecond trade execution. Guaranteed. Di