text ron up 5%. the key is whether the advance. >> hurry home here. we will see you back here tomorrow i hope. that will do it for this edition of "power lunch." "street signs" begins right now. . a wild run continues for stocks. we are back higher as oil keeps falling can anybody really figure out this market? we will try with an exclusive interview with the man running the biggest bond fund in the world. the dow coming up today. it is still up but not quite a triple digit. if it does manage to finish up with a triple digit that would be the sixth straight day of triple digit moves. look at the transports here. staging a comeback that represents the best day all year led by some of the airlines, as

well, because the cost of oil continues to lose ground. wti continues to move down, one of the reasons why transports are good. both in bear market territory from the highs. crude below the 83 mark which i think will be the first time since july 2 of 2012. ten year 2.229% while 30 year yield knocked below 3% for the first time since may of 2013. >> let's get actionable advice. with us for a cnbc exclusive interview is pim co's chief investment officer and the new lead manager of the total return fund, fund formerly run by bill gross. before we get into your investment ideas many viewers probably own your fund in their 401 ks. you have seen outflows. this is your chance. how do you reassure that their money is in good hands?

>> well, certainly i think it is important to note that the performance of the total return fund has been very strong in the last few weeks and very strong year to date. we have been able to manage around some of the redemptions and constantly rebalance the fund to our desired risk targets. it's important to keep in mind that the fixed income markets are the deepest and most liquid markets in the world in which we operate. there has been no problem keeping the fund on target. we went into this latest bond market rally very well positioned and that is the reason why performance has been so strong. >> very well positioned. does that mean that you agree with 100% of your predecessor's views and the fund will not change or are you going to tweak the fund? if so how? >> good questions. and no we are not changing the fund. as you know it has been a team process here at pim co. i and my colleagues have been involved in forming investment

teams which are at work. we have been involved with our investment committee and cyclical forums which we talked about for 10 to 20 years. no big changes in terms of building blocks of total return. we are confident we are going to continue to build upon the track record of success that we have had in total return and continue to look for ways to enhance it. >> i didn't mean to harp on the topic of outflows but i want to press you further here. you said you are managing around redemptions but had really big investors pull out or cut back. the arkansas teacher retirement system cutting ties. have you heard of any other potentially big investors who are going to do the same? >> no. as we stated in our public release a bit ago the most intense redemption activity was in the first couple of days of the announcement and we saw a

subsequent falloff. with that activity was absolutely no problem to reposition the fund for our desired risk targets. when you look at how the fund has performed in the past few weeks it has been strong. we don't anticipate big changes from here. most of our clients when they get to know a little bit more we answered the questions about the changes here they know the process and already know the the leadership team and so they are deciding to stick with us. >> i don't know how better to ask this than this. is europe screwed financially? i mean, i think it is now nine different sovereigns. the two year is trading in negative real interest rate. what is going to happen? >> we have been talking about that for some time. we have had a very low growth forecast for europe. we think it will be struggling to meet even a 1% growth level going forward. it means we are going to continue to see the need for more stimulus coming from the

central bank there. it plays into themes we have at work in the total return strategy. very challenging environment. it is still the case at real yields in europe are too high and are too high compared to real yields in the u.s. we think that you will continue to see yields fall in countries like spain and italy and around europe as ecb continues to move towards quantitative easing. >> i think it is fair to say a lot of volatility is due to disappointment over lack of action from the central bank over there. at what point do you feel there is a buying opportunity in the european distressed patch? >> we think the ecb will be coming forward with additional steps besides steps they have announced. they have many steps that will unfold over the next quarter or two. in general that is a supportive environment for a lot of riskier assets in europe but it is important to not lose sight of the fact that europe hasn't managed to outgrow the debt

problem. it has postponed but not a set of strategies resulting in outgrowing the problem. the strategies are mainly based on shorter end of the yield curb. the debt that policies will act to support risk assets and sovereign debt in the maturity specks ten years and shorter. >> you are a mortgage guy by trade a long time ago. is the u.s. housing market in a bubble? are mortgages in a bubble? >> we don't think so. when you look at our forecast is that we continue to have housing price appreciation and continue to have healing in terms of more new housing construction activity which will contribute to growth. we are a long way away from a housing bubble. appreciation trends will slow and will be a help to the u.s. economy. that is why we forecast decoupling going ahead. as dismal as the world growth forecast may look the u.s. has

shifted to a higher trajectory somewhere between 2.5% and 3% on a going forward basis over the next year. >> thank you very much. thank you very much for joining us today from pim co. quick check again on stocks. let's take a look at what is going on. the best day of the year for the dow transports. dow industrials are up by 85 points. they were up by triple digits. the ten year is interesting to watch here. currently yielding 2.27%. let's get to the new york stock exchange and rick santelli in chicago. i want to start with you, rick. in light of those comments on yields, do you agree? >> yeah, i think there is a large swath of the trading community that agrees and a huge swath of the manage community that hasn't agreed all year and the fight goes on. at these levels it is about

draghi and the size of his bazooka and the fact that there is so much big speculation running in front of what looks to be some form of qe. whether it materializes will be a huge credit market event. as for equities about 16,390s to half way on the dow. down here on a day like today if you start to trade below the 50% mark a lot of traders go the other way. a lot of moving pieces. >> indeed. let's get to pieces in the equities market. i feel like the key question is, considering we are seeing signs of stability today, we don't want to declare there is a bottom in, what are the indications out there that stocks have levelled off? >> there is not a lot yet. you are going to have to have a number of these days where the vix is side ways to down and beaten up sectors are slightly up 1% to 2% every day. right now we do see signs at

least stability airlines for example after days where many were down on double digits airlines moving to the upside and holding. home builders and 52-week lows with a number of the stocks they are doing a lot better today. this is a very tenue s rally. hedge funds are having a horrible month. i hear about people losing the whole year this month. in oil we had west texas at 105 a while ago and now at $83. that is a major problem because a lot of people are positioned long growth stocks. what is growth stocks? exploration and production companies down almost 20%. they are saying we did everything right and positioned into growth stocks and we are still getting killed no matter what we did. we were wrong this year. that is a real problem. a lot of pain right now. back to you. >> thank you very much. since stocks have been the

financial story the last couple of weeks let's get more actionable advice. welcome in. based on our previous conversations i am willing to bet that you think that stocks have not stopped in their decline for the rest of the year. >> i agree with you. >> i am agreeing with you so you can't agree with me. >> you have interpreted me correctly in that case. i was last with you and mandy august 7 and not only had we had a major correction in equity markets but the ten year treasury was 242 and you persuaded me to say at that time that we would hit 2% within 6 months. we are more than half way there this morning. we hit 2.18. i think we are headed to 2%. i think the story is the bond market. the head of the san francisco fed said earlier today that the

qe may be re-introduced if we have weakness and u.s. getting effected. if that happens the es are going lower and will be hit by a slowing economy, as well. >> another round of qes? really? how many years have we have qe 4? normally you would have said as we started that if we were going to have x amount of years that the economy would be doing better than today. is another round going to make that much of a difference? >> yes it has been six years of emergency measure. we are going into the seventh year of so-called emergency measures with 0 interest rates. my base case is not a qe continuing of qe 4. my base case is that there is no increase in interest rates at all in 2015. i have said that repeatedly on your channel. i think that still continues to be my expectation.

but if the global economic down turn is severe and hits the u.s. economy not only john williams from the san francisco fed but other fed members talk about qe. you are absolutely right. how do you do under the qe after six years? why did you do qe for eechben six years? why not seven? why not eight? why not ten years? once you get into this trap it is very difficult to get out and that is what the fed is finding out. they don't have a clear path out of it to continue with 0 rates, to resume qe seems to be a much easier path than to find the way out. >> what is the end game for europe? >> the end game for europe i think is clearer. at least you have a bank which is objecting to new qe based on government bond purchases. i think eventually either the

euro zone has to break up or they have to do some form of structural reforms in order to abide and get the economies up. france and italy cannot be saved by another qe. france cannot be saved by the fiscal deficit being high. the feature has to be structural changes, labor market reforms and if they are willing to do that the eurozone survives. if they are not you are probably striking about the deutschemark. >> i have a laundry list of things. you listed a lot of things that might be difficult for the eurozone to implement. when you say one of the options might be to break up, you said a lot of things on our show that as crazy as they sounded at the time have come true. how likely, give us a percentage, chance that the eurozone will break up? >> i will not say it is a high probability. i think if you give it -- let's

say i give myself a good two to three years because the europeans' ability to continue at a very slow pace to remain stagnant is much greater than that of the united states. they can tolerate it for a longer period of time because they have the social net which is well spread. if you give me three years i would still say about a 30% chance of a breakup within three years. and the reason for that is that you have the second and the third largest eurozone countries, france and italy, simply refusing to take all the structural changes that are necessary, labor unions are way too strong. if that is the case clearly there is a problem here and this, again, looks like way out of consensus statement but two years from now i think people start to say why wasn't it -- >> we have to go but i have two words for you and your call for structural labor reforms in

france. good luck. >> i agree with you and probably little chance of getting it done. >> right on the yield. thank you. >> thank you. get your motor running and fill up the tank. oil down again and below $83 a barrel. what one group said that is scaring the well out of the oil stocks. we are going to get one top analyst's best bets in the energy sector. "street signs" will be right back after this. go ahead and put your bag right here. have a nice flight! traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the most on-time flights are nothing

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something significant happened today and that is oil prices falling below $83 a barrel for the first time since july 2012. let's get to the new york exchange. >> everything here is calm so far but i will say that people were taken aback that we saw the losses today steepening here as we head into the close. we are seeing wti down more than 3% at this point. there are a couple of factors weighing on prices today. the first would be that iea report revising demand forecasts. of course, this is the first concrete signal that we have a problem with demand in the market place. before it was just conjecture. iea cutting 2014 demand growth by 200,000 barrels a day and for 2015 revising down. couple that with the fact that there are no suppliers in the market place domestically or

internationally that said they are making moves to cut supply and you have a market place that is not balanced. also interesting to note, prince alid out of saudi arabia urging oil minister to alleviate the substantial negative implications on the saudi budget and economy due to the big drop in oil prices. while they are saying this is not a problem we are getting a different view on that now. reports indicate that saudi arabia's break even is $86 a barrel. that is not real true break even. it only costs about $5 to $10 to get the oil out of the ground. the rest of the social spending. yesterday it seemed the strategy was to try to increase market share and woo the europeans. then you have weak data out of germany this morning and a lot of people are criticizing that strategy saying the demand just might not be there. back to you. thank you very much.

with oil's decline, oil was $30 a barrel ten years ago. we are hardly cheap with oil. we are cheaper. what are the best energy stocks for your portfolio right now? let's bring in skip ailsworth. what say you? >> well, certainly we have had quite a correction in the energy sector the last couple of weeks. i think one thing i point out this lesson demand is really a noise level decrease. our daily consumption is in the low 94, 95 million barrels a day. 200,000 barrels is less than 1%. it is indicative that demand is softening. and many reasons for that. and in our country we are kind of undergoing an oil revolution much like with natural gas a couple of years ago. we are finding more oil and

producing more oil than we have and coupled with the lower demand world wide hence the prices have fallen. so that fairly simple straightforward supply and demand situation. >> i am hoping to do a little myth busting. a number of headlines have been scaring people. the chief economist claiming u.s. shale production needs at least $80 in brent a barrel to be profitable. is it possible that we start to see real pain for shale gas producers or oil producers or do they have to be much lower before we start worrying about this? >> every company has its own break even. i think that you will fairly shortly if we get into the 70s we break the $80 mark you see a lot of the producers rethink their budgets for 2015 much like they did in the gas side as they

have ended up with plenty of supply in natural gas and a fairly and much lower price than historical levels. i think we will see roughly the same thing on the oil side. of course, we have much better efficiencies in that country with regards to car efficiencies and so the demand will also be week. i think there will be cutbacks coming on the emp side in the oil industry. >> there are shale companies that are profitable at $40 a barrel. it depends on when you got in. they all started drilling before $80 a barrel. so if the iea is saying 80 it needs to get up and get out of d.c. thank you very much. >> my pleasure. be sure to catch "mad money" today. jim cramer will be speaking with the ceo of cheniere energy and

continental resources, as well. catch it here tonight at 6 p.m. earnings is back with three names that need to be on your radar including intel. fast food frenemies. "street signs" will be right back. sheila! you see this ball control?

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"earnings squad" is back. while investors are looking at europe, energy and ebola they are watching a fourth e and that is earnings. three big companies releasing earnings giving us guidance on where the market is heading. joining me now mary thompson and mike murphy. let's take a look at the score card with 6% of the s&p 500 reporting. 9% have met estimates. 28% have come below forecasts. after the bell this could be a huge mover.

on friday that was the microchip massacre essentially. the semi conductor index lost most market cap in a single day since the bursting of the tech bubble in 2000. the focus is going to be in mobile. are they still going to continue providing incentives for hardware makers to take chips and tablets? that caused a loss in the previous quarter. so i'm just curious. how are you trading? in a market like this is this just a name taken down as well? >> i think the key for intel will be if they can offset microchip news. it is strading 10% off recent high. i think if they have positives to say which will include pc demand that was a terrible thing to be in a few quarters ago. if intel can come out and refute claims from microchip's ceo i think the stock has a lot of

upside. >> you are looking at csx. canadian pacific, impact of shale. >> earnings are going to come out tonight and street said 48 cents. whisper number is at 47 cents. the real story is unlike other quarters we had a huge move over the weekend on news that canadian pacific was looking to merge with or buy them out. the stocks had a 10% move to the upside. trading around $33. csx will have to have a massive quarter to keep the stock up here in my opinion or will have to talk something about canadian pacific bid for them or will they bid for canadian pacific. this, although csx doesn'ttypically move a lot on earnings this will be an interesting conference call. >> and the decline on oil we need to listen to what they are saying about shale. 70% of growth in the first half of the year in revenue came from

shale car loads. that is having a major impact on railroads on top of any other sort of transport down draft that we are witnessing in general. >> they also transport a lot of coal. that has been a big weight. we will see what they have to say about the coal. if there is uptick that would be a big positive. let's hit financials. mary is looking at black rock. >> asset managers are expected to have a flat quarter. plaque ro black rock expected to be the shares expected to be strong in the quarter. a couple of things we are watching on the earnings call tomorrow is whether or not the company talks about getting big wins in the pension space in fixed income as pension investors looking to derisk a little bit and move into fixed income assets. they talked that some of the european investors,

institutional investors were doing the same thing getting out of equities and they think that is going to be a positive for them. >> thanks. that is it for "earnings squad" for today. if you want to join the conversation be back tomorrow. >> we always want to join the conversation. thank you very much. coming up next on "street signs" analysts are all about corn bread and destination get aways today. almost like a riddle there. and oil continues to be a big story right now. the final oil trades are crossing for the day. we will let you know where crude settled 81.83. we are back after this. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team

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let's bring up this chart. it feels like the losses are kpa accelerating. >> crude oil is 5% move to 81.54, the lowest in a couple of years. >> we fell below 83 for the first time since july 2, 2012. we need to put it into historical context. this is what we do. >> this is why you have to look at a longer term chart for everything. all headlines tomorrow and

probably tonight say things like oil is cheap. low oil prices. these are not low prices. we were at $30 a barrel ten years ago. we are lower than we were, cheaper than we were. gasoline is less expensive than it was a couple of weeks ago. i'm not sure anyone would call $81 a barrel cheap considering we were at $30 a barrel ten years ago. dow transports up by 199 points off the highs of the day as you can see. if i'm not wrong with the gain of 2.6% this is about the best day that the dow transports has had all year led by a couple of names like delta and jet blue. lower jet fuel prices good for the airlines. let's do "street talk." time for something we do every day at this time. five analyst calls on stocks you need to know about today. ubs is back and covering yahoo.

>> slap a buy rating on yahoo. sees about 30% upside in yahoo. >> next it is old country cooking cracker barrel up to a buy. >> one of the first mentions we have seen of lower gas prices, lower gas prices should help cracker barrel and thinks sales will be better than competition. the target is 120 a share. most of wall street sees no upside. upgrading orbitz. >> up 2.1%. they raised their estimates. channel check show speed up in sales and like valuation. and let's move to our under the radar name of the day. it is 8 x 8 up to a buy at b. riley. down 40% year to date.

san jose, california based internet company. average target 1150. let's get to talking numbers, something else we do every day. looking at a stock technically and fundamentally. today it is gold. on technicals rich ross and on fundamentals is george reynold. on the technicals gold at a down trend for about four years. any sign of that reversing? >> there is not. the back drop for gold is quite weak and price action is uninspiring. i would use recent strength to be a seller. bring up the charts and i will show you why. we are going to look at a shorter term chart back about 18 months. the key feature is the triple bottom down around 1180 which we have held three times. notice how each of the bounces has ultimately resulted in a lower high which gives you the down trend and resistance comes in multiple ways between 1,240

and 1,275. when we swoom out we see the pattern of lower highs and triple bottom. i think we break beneath the key support around 1,180. that will take us to the $1,000 number which coinsides with the neck line of head and shoulders. that is an inviting down side target. i think we can see a fast move down in gold. >> george, anything you see fundamentally to counter what rich described as the textbook bearish descending triangle. >> i think there is important interesting fundamentals. this year we have finally seen a strong dollar which, of course, did not help gold. on the other hand i think a lot of people don't realize we have these very low interest rates. so perhaps the dollar may not be that strong for a longer period of time which actually will at

some point help gold. low interest rates don't support a strong dollar. what has supported a strong dollar has been a wonderful stock market and no need for gold because there hasn't been inflation on the horizon. once we see inflation on the horizon and start to look at what has happened both geopolitically in europe and in the far east and middle east people are going to start to think about even this lower oil price which is not good for gold at this time may become inflationary because it levees less of a tax on american industry. >> isn't deflation a worry? >> it is a worry in europe and not here. in fact, we are seeing good economic numbers. we are going to see earnings. we are going to see better employment in the u.s. we are a haven. money is coming here.

of course, coin sales have been very brisk. now we have the holiday season coming up and jewelry industry is probably cheered by the lower gold price which will help sales during the holiday season. >> we have been seeing better employment. we haven't seen signs of weighed gains. thank you for the fundamental side and rich thank you for the technical side. we can check out the online edition of "talking numbers" for more of this kind of thing. the yield on the ten year continues to fall lower and lower. you may not care if you are not a bond trader but you might care if you are a homeowner. we will talk about the real estate impact from the yields. a comedian says burger king stole his act for a new ad campaign. we will let you decide. name a movie. go. >> radio shack. >> what? >> that's a store. >> excuse me. good bye. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops,

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getting one mortgage rates are generally based off the ten year. the yield 2.21% which means mortgage rates might fall again. does that give us another refirebound? let us bring in melissa cohn. are clients refiing again? >> yes, they are. we have just been through labor day and kids getting back to school. anecdotally we saw in the first two weeks of september that 42% of our clients were refinancing and for the last two weeks of the month over 50% were refinancing. we are seeing the volume continue to climb. mortgage rates are definitely dropping. with all of the volatility in the economy the rates are not dropping as quickly as we would like them to but we are certainly looking at a sustained pace of lower interest rates. >> so you say the refivolume is picking up but not going to be at the same pace as like we saw

in the refi boom. >> since the refi boom we have had dodd-frank come in and there are a lot more restrictions in terms of getting approved for financing. people are a little more afraid to come into today's market place. the good news is there are more banks coming in making easier to refinance maybe not at the rock bottom rates but 0.8% or above. if you can lock in at the 3% range you are doing yourself a huge favor. >> can you make us feel better. can you tell me your customers are refiing and giving mortgage without doing a takeout of cash or are they cashing out and buying giant yachts again? >> i haven't seen anyone buy a solid gold yacht yet. >> are they cashing out? >> some people are cashing out. >> banks are more restrictive. if you want to cash out they are limiting you on how much you can

cash out. if you want an interest only mortgage they are making it more difficult because they are making you qualify as though it were amortizing loan often on a shorter term. banks are cognizant of the fact that rates are lower and people want to refinance and they want to make sure they have the ability to repay. >> we hear banks are restrictive. do you see that changing anytime soon or is that here to stay for some time to come? >> i think general standards are here to stay but the good news is in the market place there are riets coming in and portfolio lenders trying to fill the gap in terms of borrowers who don't meet today's qualified mortgage standards but are still good borrowers and are willing to make the loans at a slightly higher rate but there is money out there. you know, if you really, really

can prove three out of four points there is no reason why can't get you a refinance. however, if that credit is one of those bad points that does continue to be an issue no matter where you go. >> if a client wants to take out the money to buy a solid gold yacht just say no. >> no problem. thanks for having me. more on the oil slide that continues to fall. oil prices in the low 80s. >> we settled down about 4.6% at 81.84. we saw the biggest percentage drop today since november 2012. the lowest settlement since june 28. we will talk more about what is happening with oil with the top annealests next.

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let's get more on today's big oil slide. joining us is andy lippa. two ways to look at the slide. there is we a, we have too much of the stuff because america's producing so much. good times or, b, the world is slowing down so much that demand is crushed. that's a boo. which one do you think it is? >> it's a combination of both. >> or that. >> clearly u.s. production up about a million barrels a day year on year and the international energy agency reducing forecast to a growth of only $360 barrels a day and s seeing growing supply. >> how much more will it crush the oil market? >> well, i'm expecting that oil prices for wti dip below $80 a barrel and probably very short order as we continue to see this selling coming in, especially on

today's close. and brent crude oil prices, which are now going to be headed toward the low 80s, and this is going to, of course, impact investment decisions in quickly short order. >> so, is this really a saudi arabia thing? do you buy the fact that saudi arabia's flooding the world with oil? probably under political pressure from the united states to stick it to russia. >> well, i don't know if they're gong to stick it to russia or not, but certainly, i think the saudis looking for u.s. support at least in the middle east for help with fighting isis and this might be a way to help the u.s. economy along in return for that support. >> how much, though, to brian's point hinges on the saudis for price direction from here, or if he start to see our own u.s. oil producers cut production should that shore up or stabilize prices? >> the saudis carry the big

stick for production and might be taking a different tact of the 1980s and maintaining production, maintain market share, let prices fall where they may and that new investment is particularly at risk in deep water brazil waters up in canada, as well as a number of the more expensive gulf of mexico deep water plays. >> where does it end? >> well, i mean, we have seen, you know, a number of years ago we saw crude oil prices drop as low as $30 a barrel, $10 a barrel and took well over ten years for them to recover. i certainly don't think that's going to happen now. the world oil demand does continue to grow. we still have a lot of geopolitical uncertainty. as quickly as libyan oil returned to the market, we could see that go off the market with continued political uncertainty in libya. and it's also unclear in iraq

whether isis could circle around baghdad and make its way into the southern oil fields and cause prices to rebound substantially. >> you know, in the past whenever we used to have sharp moves in either direction for oil prices, people look to opec for a stability but now it feels like opec is basically decided to just do what it wants and, you know, each man for themselves in this price cutting war. has the credibility of opec been undermined? >> well, i think they have less impact on prices than they used to have years ago, especially when the prices are determined on the futures market. and we see them go up and down every day, plus given the increases in production in the u.s., canada and russia over the years, opec has had less impact on the world oil demand as a percentage of the total. >> thank you very much for joining us, andy lipow on the phone. changing gears completely, a

comedian says burger king stole his act for a new commercial. the ad is there on the left. it looks similar, right? we're going to play you the clips and then basically make up your own mind. that's next. synchrony financial partners with over two hundred thousand businesses, from fashion retailers to healthcare providers, from jewelers to sporting good stores,

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ghave a nice flight!r bag right here. traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the most on-time flights are nothing if we can't get your things there too. it's no wonder more people choose delta than any other airline. is there trouble in the land of high-end handbags? is there a land of high-end handbags? courtney reagan is here with the red flags. >> the land is everywhere.

it's a global business, brian. a number of foreign high-end retailers reporting sales and issuing warnings today turning concern of slowing chinese economic growth and protests in hong kong and protests of russia and the ukraine. the company of burberry saying the environment is more difficult. they're expecting margin pressure. though they say good growth of the chinese and wasn't double-digit growth like it has been. mulberry saying conditions are more difficult than expected reporting first-half revenues down 17% and warning 2015 will be significantly below its current expectations. lvmh with 4% of growth. but a slowdown in asia mentioning an uncertain economic and financial environment. so far the u.s. high-end retailers haven't issued warnings and for them, the earnings season is a couple of weeks ago and full year less than 10% of kate spade's

revenues outside the u.s. nearly 22% of michael kors revenue of operations outside the u.s. and most recent quarter europe and japan had blockbuster growth and a third of coach's sales from international markets, china, europe. tiffany, brian, nearly half of sales and earnings outside the u.s. turmoil abroad could cause trouble for them. mandy? >> thank you very much, courtney. okay. so now's the time for you to decide if burger king ripped off comedian billy i'me er iichner. here's a clip. >> sir, sir, how much is this vase in a store. within a right of a dollar you can keep it. take a guess. >> $10. >> no! no! ugh! >> and now here's the new burger king ad he says copies his act. >> what do you think these are?

>> chicken nuggets. >> how much from burger king in. >> $5. >> $1.49 for 10. >> oh! >> okay. yeah. a lot of people think it's similar and questioning why burger king didn't just maybe hire him to do the ads. mcdonald's tweeting support for billy and a new wrinkle to the burger wars. no pr is bad pr. >> that's true. >> can we throw up nfx? new field exploration. a driller. drillers are down in october, this is the worst of the worst. nfx, officially the worst performing stock in the s&p 500 this month. i thought i'd end the show on a low note. >> well, let's try to maybe end the show on a high note. actually, now the s&p is up by -- only 5 points off the high of the day and more green than red at this stage. >> bring up diamond offshore. >> yep. >> the best performing stock in the s&p 500. >> that's the way!

>> doesn't count. >> losing our gains. see that the dow is flat lining at this stage. we have the see whether or not it goes in negative territory by the end of trade today. >> i'm sure they'll cover it in "the closing bell" starting in a couple of seconds. thank you for watching. >> see you same time tomorrow. welcome to "the closing bell" on this tuesday. i'm kelly evans. scott, how should we describe the direction of the market? >> oil clearly the big story. down 4%. with it, the market starting to decline a little bit harder. even though it's still holding on to positive territory. the russell 2000 is holding up quite well in the face of selling otherwise. i would suggest to you that the dow number which is now plus 44 probably is least representative of the overall tone of the market today. look at the s&p.