Of an ecd press report. Our road map this morning starting with apple, cratering on its biggest decline yesterday on four years, closing just pennies off the lows of the session. The stock continues lower premarket as investors watch the death cross watch. A cnbc exclusive, tim geithner says over the cliff is a must. Bank of england and ecb keeps rates unchanged. Europe continues to hang in there economically. And nat gas gets a boost. The government finds exporting it is better than keeping it here at home. Apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. The one day loss erased nearly 35 billion in market cap. That chunk is bigger than 400 other s p 500 companies. Apple ceo tim cook talked to Nbcs Brian Williams in our rock center exclusive. Why cant you be a made in America Company . You know, this i found, as a matter of fact, the engine in here is made in america. And not only are the engines in here made in america, but engines are made in america and are exported. The glass on this phone is made in kentucky. So we have been working for years on doing more and more in the United States, next year, we will do one of our existing mac lines in the United States. You can see the entire interview with tim cook tonight on rock center, thats 10 00 eastern time on your local nbc station, but for now investors are watching the market. Apple shares 5. 31, which is close to the main lows. This is close to the next s support level on the stock and really catching a lot of people by surprise. Its a fiscal cliff decline. This is the greatest Capital Gains generator of our lifetime. I would love to see what the gains are going to be next year. But i would be saying you need to sell it. We have no idea where the Capital Gains are going to go, were going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. I dont think it makes any difference two tim geithner says. It is so widely held by so many who want to play the stock market, lets say, beyond just the Capital Gains, whether its in taxable account organization not and it also has the psychological impact that this is the one that im going to get out of because im afraid of whats coming in general . This is the stock, yes, its cheap, now once it goes down, we have a million reasons, well, its a nokia phone, well, its china. Ipad miniis available. This is a stock thats so widely owned. It reminds me of sirius satellite. Every doctor, every dentist owns apple. They dont know the price per share, they just know it is the proxy for the market. They just accelerated dividends. But i think were talking now 150 companies in some fashion have accelerated or put forward a special dividend. You put forward a special market share, china is 76, with the market share at least. Is it a disappointment that apple did not pay a special dividend . Is that part of this . There was some of that. There was some expectation . Not that they ever gave any voice to it. They never said a word about it. True. Look, it is widely owned if the stock were its obviously, heres the stock that went from 70 to 50, maybe it goes to 48, 45. Everybody who doesnt know what apple is, other than the fact that they use an imac or iphone are selling it. And, look, if youre a Hedge Fund Manager you went from thinking i have to own it, or i have to short it. In addition to talk to Brian Williams, tim cook gave an interview to Bloomberg Business week, a very long q a in which they reference brave earned capital. Its an entity that manages apples cash, but cook says it does have some of the safest investments known to man. Talk about the black box. Biggest net cash position is indeed burning a hole in peoples pockets. Do they need to buy twistetter . Right now the people who own apple are without a doubt the worst shareholders i have ever seen en masse. They want to take their gains, theyre not sure what they v at Rockefeller Center last night, around the christmas tree, someone comes up, im thinking they want a picture, no, what do i do with my apple . I always say, look, i think you should own apple. But i know youre only asking the question because you want to sell apple. I ask them if you know the multiple, they say all i want you to do is bless the sale. Im just out there shopping. I go to j. Crew today. Im at that building often times, i walk by that store. I got 30 off a coat. You got to get in there, i got 30 off a coat i was willing to pay full price for. People are truly perplexed about what the stock is, where it got to, what do you do with it . You can come up with a million reasons here, its manufacturing, maybe it is manufacturing, but is there really a demand question about apples products that is a real one . Not in the u. S. , but there could be some questions about china, remember that report from Steve Milanovich . He said apple needs to come up within some real innovations, you need to have some clarity on the pipeline, and you need geographic clearance to go into china . Yes, it got it with two of the smaller carriers. China confirms talks with apple. But the problem here, he says tech is not an issue, its mainly about the Business Model and benefit sharing issues. That could be a problem. He is also playing the part of what many analysts are doing, which is let me explain why its going down, in the same way that the death cross, i always love the death cross, this is a technical term. I can think of a million reasons to sell it. The only reason i want to own it is because it makes the best products in the world and its inexpensive. Thats a lot of people looking at the chart. Look again, the people who own apple, they were the ones who owned it because it was going up. It reminds me very much in 1999, what do i do with my nortel, its at 110. In the meantime, roth, the ceo gives a session, an off the record session, or a session where he bashed 15 people. And said you know what . Were going to miss the numbers really big. Apple is not nortel, but it trades like those that do and people get into the rut of saying i got to sell, everybody else is selling. This has happened before but just not with a company we respect like apple. Tim cook, im going to find tim cook and say, listen, man, death cross, doesnt that trump itv . Maybe you sell maybe you replace dell and hewlett packard, and i say chief, because you got the chief the guy, what about the death cross . David, the death cross versus come on, partner. It says sarcasm at the bottom of the screen. Tim cook, you can tell at the board meeting, you know that he usually presented charts on the product. Hes got the stock chart and he shows you where the death cross, hes probably into macd. The trend . I can tell you right now, hes getting deep into the world of mark number, hes doing some of the finest Technical Work. Its no longer Technical Work about the it thing. Its the chart. And until you embrace that, youre going to miss what tim cooks got, the omg chart. The stalemate continues over the fiscal cliff. Today the president h showcasing Steve Liesman asked the treasury sec temporary about the possibility of going over the cliff. I want to understand the administrations position when it comes to raising taxing on the wealthy, those making more than 250,000. If republicans do not agree to that, is the administration prepared to go over the fiscal cliff . Absolutely. Theres no pros teblpect to the agreement that doesnt involve taxes going up on the wealthiest 2 . Remember its only 2 . I talk every day to our customers around this country, around the world sometimes for that matter too, but around the country, and they are all scared to death what happens in january, nobody knows, but all i know is going over the cliff is too hot to handle, its an option we just cant stare in the face and theres no way we can do it. They will get us through this in one form or fashion. Interesting call. Conventional wisdom, obviously the white house and the secretary hardening their line, and a lot of people are saying the republicans are starting to fray, to concede that rates will go higher, maybe not to 39. 6 theres discussion in politico that theres a 37 solution. The republicans can say we defended against the worst case, but we gave the president og something. Obviously right the norquist side, which is the im going to get you to lose in the primary if you vote for the increase and the geithner side, in an interview with, a dow killing interview, other than apple. He didnt reference the apple chart, but this was one of those interviews where tim geithner was saying, were done. Were going on vacation, no legislation, and it was really nice to meet you republicans, and the rates are going haiig h and it was basically devastating, saying, hey guys. Cliff me, cliff me. But geithner didnt stick by the highest increase, so maybe thats the Common Ground so maybe that way we can find the Higher Ground on this. And maybe thats the way to some sort of consensus on the tax issue. They all a are talking to senator casey, not a lot of time that i can see. I want to know how many of them have tickets in hand and whats the date of their ticket and whether theyre using delta or getting out with yuunited airlines. I agree, that their door should be open. But if youre geithner, youre calling all these people who have impure thoughts. Hes saying your seats not safe, i have got a guy that run against you. Hes got a republican that will run against another republicans for some senate seat . Its a pledge. I just want to make sure that we still think theres a viable opposition for whomever is on the republican seat. Read my lips, im going to lose if i raise taxes. Its happened before. I also remember ross perot got 22 of the vote that time. Youre saying that the threat to pull the plug on any representative who took the pledge is far greater than any desire to rise above. They like being members of congress. Theres no doubt about that. They do, dont they. Yes, they do. Dont mention pumps. When we come back this morning, a new report finds that exporting nat gas will actually help the u. S. Economy, but not every day is a winner. Vice chairman alan blinder will tell us what he thinks. A new study from the federal government shows exporting u. S. Natural gas overseas has the potential to reshape the Global Energy markets. The Obama Administration has said the study will be central to the decision on whether to export. He said exporting the gas would be a bigger impact on the economy. Slap in the face of dow chemical. Of coke, not coke the beverage company. But this was something that was hotly disputed within the Romney Campaign. He really let this stuff go because the Romney Campaign had some very big givers that were chemical companies. Do we know, say, very bad, how much will prices conceivableably go up if we become an exporter of natural gas . Is it that great a difference . We burn offer more natural gas than we use. Burn off, in other words literally, you see those flames, we flare more than we use. So we got a real excess of this stuff. The government says that the 6. 6 of current u. S. Consumption. Why would prices move that dramatically at all . Wouldnt they just come down globally . The average, our 16 goes to 4. It costs 7 to get stuff from the United States. You should argue that they should go down because they went be the only one. Dominion has brooif cove, thats the one thats most ready to go. The gorgon numbers, this is the gigantic l e experts. Its not going to cost 60 billion. These plants cost a fortune, they put a lot of people to work. I think that this is the opening savlo, i want to know what the shadow government has to say. The increase in the environmental lobby is not going to be happy. No, its a huge full disclosure. There are some environmental groups that support fracing as the best alternative, if we have got to go with something. We have got to produce energy in this country. Theres one in particular. Sierra was pro nat gas, the lesser of all evils. The chesapeake was giving a lot of money to sierra. This is very controversial so its not over. A lot of companies have switched over to natural gas so will consumers see their gas go higher . And could this be good for the coal industry . This is years over. 2016 will be the first. And who knows if they can really finish. These are very complex plans as i mentioned. Chevrons been trying to do it for years. Now that youve heard what cramer has to say about natural gas, will the stocks he mentioned in his mad dash add fuel to your portfolio . And lululemon having their Conference Call right now. Looking at the down day, s p is looking to lose about 2 on the open. Much more squawk on the street straight ahead. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. 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Yes mom, ill place a long call to you tomorrow. I promise. Open an account today and get a free 13month eibd™ subscription when you call 18882800154 now. Optionsxpress by charles schwab. She might have sung about a hopeless place. Apple in a hopes place. Tim cook singing that song today, my stock is in a hopeless place. This stock is in 66, when it comes out in the headlines, negative. The 10 15 interview will be the most important interview than anyone has on squawk other than. Your interview is going to determine the next ten points on lulu. Everything always thinks that accumai. When you get netflix, very controversial stock, but dont by this on a takeover basis. Buy it because its a very well run company that people use to get the fastest video to your house. There is a still a ringing of the debate in the journal today about whether or not this deal with disney. David favor has pointed out that its international thats causing the problem with netflix. If they shut down europe the way that citigroup is shutting down the world. Netflix goes to 100. Managing down as you said before. Managing down. When we come back, the former fed vice chairman takes aim at both republicans and democrats. Well talk to alan blinder. Apple is down in fair territory at 5. 28. [ male announcer ] this is karen and jeremiah. They dont know it yet, but theyre gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, theyll find some retirement people who are paid on salary, not commission. Theyll get straightforward guidance and be able to focus on other things, like each other, which isnt rocket science. Its just common sense. From td ameritrade. And youre watching cnbcs squawk on the street. The opening bell will ring in about 1 1 2 minutes time. Jobless claims coming in, down and this number should be essentially clean of sandy effects, so finally a clean read as to the claims aspect. But it doesnt look like, jim, that we are set for a lower open today. Carl pointed out that maybe theres some room between sides. But, look, yesterday was one of those days, show a lot of americans dont even know about the fiscal cliff. Paychecks are going to go down, a million layoffs in the defense industry. No one seems to care right now. Its bad. You know what we have going for us . The grid, december 17 announced on a seasonal basis, they have reiterated once again that it doesnt have the demand to be sold year round, but starting a week from monday. I dont buy that. I think they do it because whenever they have mcrib, theyre just fighting traffic for mcrib. There are places in the world where the mcrib is on the menu all the time. In case youre there on your vacation. Im learning here all the time. Im always learning. Switch from the bacon cheeseinator. [ bell rings ]. Celebrating the Ground Breaking of hotels in new york. Well be speaking to the ceo in this hour. Whitehorse is an interesting story. White house, delayed over at the nasdaq, the New York Stock Exchange puts out a release reiterating 16 companies have announced or moved to the big board so for this year. Youre starting to wonder who would go public on the nasdaq. Still waiting for the night capital resolution, knight had taken a real shot and nasdaq offered the facebook ipo. So theres bad blood everywhere behind the scenes. These guys dont like each other, its like the skewers, ravens, anybody versus the patriots. Anybody verse bill belichick, yeah. The dow holding on at onemonth highs, we did see the impact of apple on the s p 500 and the nasdaq on yesterdays section. Apple this morning opens lower by 2. 5 . Right now, on apple, we are at 5. 26 and change. The main lows at the 5. 20 dlerz. These are all levels that were watching very closely. And we dont need to b