We were down 3 on the s p 500. Lets put up the Dow Jones Industrial average. Not today. Not because we had any positive news we just didnt have much news. We didnt have a lot of headlines around syria. Lets call it a relief rally. Put up the full screen. Did droop a little bit. Lack of headlines for syria is what was lifting the stock market today overall. Weve seen a gap between secretary of states announcement a couple of days ago and actually action and today that worked to everybodys benefit. Not clear if were going to wait or the u. N. Or go it alone. Jobless claims are tomorrow. We need some good news on the economic front because we had lousy durable goods, pending home sales. We better get a decent number. Below 330,000. Fed paper has got to be in some serious trouble. Lets look at the yields on the ten year. Yields up today, prices on the down side here. Reversing that risk anxiety around syria but this isnt going last. If we get a poor number tomorrow on the jobless claims i bet the stocks will rally and bonds rallying as well. That want will reverse. This is an important number tomorrow. Sectors today one of the main reasons we were up the Energy Stocks were up. Exxon and chevron were about half of the gains in the dow industrials. Thats a major factor. Home building stocks, pending home sales again a disappointment. You can see we move to the down side on that group. They stabilized last week. Finally on retailers, a mixed bag on the retail front. Unusual. Thats not a typo. Le zale up 30 . Good news on express reporting earnings, in line with expectations. They raised their 2014 guidance. Chicos was a disappointment. They said they were clearing inventory. Chico moving to the upside. Zale the big outlier, up almost 30 . Thanks, bob. Is bad news good news again for this market . Lets talk about todays action. Rich peterson is with us so is nathan and rick santelli. Nay thanks what do you think . Are we in a period right now as we wait not only for a military strike on syria but tapering next month that bad news could be perceived as good news for this market . Think the markets did something today that was scary it used some logic. It thought through what would happen Surgical Strikes. When the market thinks it knows whats going on thats what you should be concerned. The only thing that worked today was correlation. We actually had some news that kind of, you can understand the bonds. They are saying Interest Rates will go up. Stocks sort of left me wondering why because we got Mortgage Applications are down 53 in the last four months. Thats not good news. I think the war thats being waged is over at the Federal Reserve and we found out shrapnel hit the emerging markets. Thats the war we need to Pay Attention to. Taper is off the table because of the facts i just mentioned. Rich, youve come armed with stats about previous interventions weve done and what the markets have done. Do we have anything analogous to a pending Surgical Strike. Back when you had the 90day period of the kosovo bombing between march and june in 199, the s p gained 9. 1 . That was a period of m and a activity, big deals it fell into that. Two weeks before were very negative. Now were in a period of anxiety, the fact is, you know, the economy is sliding downward but the fact sue look at the Fourth Quarter earnings over 7 s p. Now were looking at 3. 9 for the Third Quarter compared to expectations over 7 . This economy is not that economy. Lets bring in Peter Anderson from Congress Asset management. What do you make here as we wise today for the last two days done nothing but fear the situation in syria which theres no change today. Looks like something will happen but the equity buy certificate back . Well ever since the dawn of mankind when we started trading weve always operated in a geopolitical risk as a background. I dont really see this as a different time. Were struggling between taper on, taper off. The syrian situation has distracted that main calculus that weve always been spending our time on this past month. Peter, a trader told me in the last half hour he would see the Market Selling off at the advent of any Surgical Strike against syria. You would see that as a buying opportunity, wouldnt you i would. You know, your previous speaker, weve also looked at past situations like this. Past crises. It does turn out that it does often turn into a buying opportunity. Now that doesnt mean to flood right into the s p 500 index. What im talking about is your favorite names that want you might think are slightly over valued now, this is the time to jump in if you think those fundamentals are still strong which most of the cases in the u. S. Economy i would say that is dead on. If things really havent changed in a short time span of a week. We have a difference of opinion here. The bond market is saying Interest Rates are going up and stock market is saying they think the economy will be okay in the Third Quarter. I think youll look at Consumer Sentiment and find thats a lagging indicator. The next time Consumer Sentiment comes occupant it will be down. In think the guidance youll get from a lot of companies will be a lot softer in the Third Quarter and the big run up well see is in the Fourth Quarter. Now is the time to take a look at where are opportunities because wall street doesnt put up a for sale sign but we do. Its a time to look at emerging markets. I think bernanke figures out he threw a few elbows in the race to the bottom and one of the people he knocked around was emerging markets. Money will be going back in there. Right now its about outflow not production. Rick santelli, a lot of our viewers dont know you know a lot about how things trade during a crises. You were a gold trader during the iranian hostage crisis. What do you see now . I would think weve seen more safehaven buying more than weve seen. 97, 98, i was Trading Crude Oil futures. Night session bonds for the first gulf war and, bob pisani, jim cramer they nailed it all day. Buy rumor sell fact. Theres always the lead up to these events that seem to get more market volatility than the final event which usually gives you a big move but its like just and then the markets normalize. The biggest news story, in my opinion, with regard to the taper which is a topic i dont like to dwell on is the emerging markets. I think its one of the solid reasons why the fed almost has to deliver on its taper because i think the Collateral Damage to some of these emerging market economies along with the lack of provable benefits to these programs really questions the longevity of how much the fed is going to continue to get public sentiment and demand on their side. That doesnt make the emerging markets a screaming buy . Anybody want to step up on that one . I think emerging markets is always a place in the portfolio. Go ahead. I think theres always a place in a fundamentally diversified portfolio for emerging markets. That might sound like a cop out but do i think if you look at it from an Asset Allocation perspective you should always have a certain amount of your portfolio say 5 , 8 in emerging markets. That helps with the volatility. What were talking about today its all about volatility. You need all those asset classes, almost continuously with a couple of exceptional cases. But the bottom line as yields rise the capital flowed abroad those yields return home and those economies will work for us. Sometimes you work in a balance of payments. Gentlemen thank you. We got a lot planned for this hour so stake round for this busy hour of the closing bell. U. S. Air strikes on syria are expected. Well have the latest from that region and a break down on what it could mean for the markets. Red alert on mortgages. Will new rules being proposed cause lend towers tighten the reins and make loans harder to come by. Well talk that out with our panel of housing pros. What course do College Students need to take that lead them to jobs. Thats a novel question. Dont miss the third installment of our week long Series School days the changing face of college. Idelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades you open an account. If youre like me, youve been working youve been working like a dog all year. But you dont need to camp out til labor day to reward yourself mattress discounters labor day sale ends monday rest those tired bones on a queen size sealy gel memory Foam Mattress for just 497 get 48 months interestfree financing on the entire tempurpedic cloud collection. Not to labor the point. But this sale ends monday mattress discounters tensions with syria mounting as a senior u. S. Officials tells nbc news quote were past the point of no return. U. S. Air strikes are now expected within days. Eamon javers has the latest developments. It appears were in the final hours before some sort of u. S. Military action against the regime in syria, a couple of bullet points to bring you up to speed. As you say a u. S. Official is telling nbc news were past the points of no return. Those u. S. Air strikes against syrian targets appear inevitable and those strikes are expected within days. In terms of the assets the United States has in the eastern mediterranean, four guided missile destroyers, two u. S. , one british submarine in the area, each loaded with tomahawk cruise missiles. Meanwhile up on capitol hill theres a Bipartisan Group of 93 congressmen, 77 republicans and 16 democrats who signed a letter to president obama asking him to consult and receive authorization from congress before ordering the use of u. S. Military force in syria. I can tell you, michele, its not likely the white house will seek out a vote up on capitol hill before they use any military action in syria but say they have reached out to senior congressional leaders in order to get their buy in on this. The question whether it comes from any sort of official advising consent role by congress will be left open here for the next several hours and days. Those strikes could be coming now within days and a lot of very overt discussion in u. S. Media about the military option including possible targets. So clearly we are down to hours if not days. Thank you for that update. Lets discuss this further with former ambassador Mark Ginsberg and harry labelle. Mr. Ambassador, let me start with you np attack thats coming is so preordained, so advertised and so limited weve been told already by the white house. Would you recommend this methodology to go forward from were it comes to trying to do anything in syria . Well, michele, its almost as all of us are sitting as arm chair video experts targeting syria. Its gone to the point where almost everybody has an idea of what well shoot at and what well use to shoot. The bottom line is the following. The most important aspect of this is going to be whether or not any attack serves two purposes. One to degrade the capacity of the assad regime to use chemical weapons in the future. And to deter them from being able to do that and degrade ultimately the command and control operation. If these minimal attacks that the white house is billing as potential dont accomplish either goal then theres going lot of criticism here and abroad. Do you think they can . Its been telegraphed so clearly we dont want regime change, its going very limited. Doesnt sound like they are trying to shift the balance of power in any way. They told the assad regime for all intents and purposes well hold you accountable by attacking military installations. We wont hit civilians or hit the assad family compound. There are fears of unintended political consequences as a result of this strike, whether it involves russia or other parts of the middle east. What do you think . Do we just go in . They do the Surgical Strikes and its a one off event or what do you expect to happen . Think if the Obama Administration had taken the more ambitious objective thats being discussed those consequences and risk wos have been possible. Because this is a minimalist operation with one very focused objective just a few days, just a certain set of targets, i dont see the consequences and risks as great as if we went in much bigger with grander objectives. What do you say though those who argue you do something which is essentially for optic strikes, Surgical Strike. We said we would do something okay we did it. As a result you end up emboldening iran, north korea, et cetera because they see that we really dont have the guts to do it. I agree with you. Its perceived as checking the box this creates more problems than it solves. If it goes the way it should which is to make it very clear to assad and other key Decision Makers that they should never consider this again, then youre in a better position. From what youve heard so far, from what youve heard so far because its been so clearly telegraphed is it enough to send that message . Hard to tell. We need to let this play out. The target list is still being scrubbed. The diplomatic activity is still going forward. Too hard to tell. It could be as soon as thursday but your bet is it happens on saturday. The british house of commons will debate this matter tomorrow. The British Government just tabled a resolution in the Security Council this afternoon. In effect requesting Security Council to authorize the use of force knowing full well this will be vetoed but going through the motions at least of tabling this resolution. Friday is the day of prayer, so probably that is going to be avoided, although im not certain, and for all intents and purposes the u. N. Inspectors would be finished with whatever work they are doing even though their mandate is not to determine who is responsible for the attack. Thats why its probably going to be in the next couple of days. Ambassador ginsberg, john mccain was on this morning and he said it would be easy to arm rebels that were friendly to us. Keeping it pretty short it was a long conversation. Is it possible because theres so many concerns about us arming people who would not be friendly to the United States in the future . I admire senator mccains position anthony but i dont agree with him. Theres too many bad actors in the broth right now. Too many bad guys willing to take the arms away and fight the rebels. One thing were not hearing on the news but im aware of. Theres been a lot of infighting between the socalled better rebels and worst rebels over arms and the killing of commanders. So lets be clear here. This is not as clean and sanitary as we may want to believe it is. Rarely is when we talk about what we refer to as Surgical Strikes. Gentlemen thank you both for your thoughts on an important issue. Someone who knows about actions like the one the u. S. Is facing in syria, former defense secretary Donald Rumsfeld will be joining larry kudlow tonight. In recent years getting a mortgage has swung from being way too easy to way too hard. Now potential rules could make it harder. Well explain whats being considered and how it could impact the entire Housing Market. The gaming wars ratchet it up a notch with nintendo planning to cut prices of their console and roll out a new and less expensive handheld device at the same time. Well speak with the president of nintendo about his later offensive. Dont miss it. Coming up. Make their money do. ann to help me plan my next move, i take scottrades free, inbranch seminars. Plus, their live webinars. I use daily market commentary to improve my strategy. 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Sorry to interrupt, i just want to say, i combined home and auto with state farm, saved 760 bucks. Love this guy. Okay, does it bother anybody else that the mime is talking . Frrreeeeaky [ male announcer ] bundle home and auto and you could save 760 bucks. Alright, mama, lets get going. [ yawns ] naptime is calling my name. [ male announcer ] get to a better state. State farm. Will potential changes to mortgage rules cause lend towers pull in the reins . We have that story plus the latest Economic Data from thoughts front. Thats right. Lets first recap the data. Pending home sales which are signed contracts not closings drops 1. 3 in july. A little worse than expected. Realtors blame rising mortgage rates. Higher rates are hitting higher cost areas more dramatically. Pending home sales were down 6. 5 in the northeast and 4. 9 in the west. In the lower cost south they were up 2. 6 and midwest down 1 . Mortgage rates rose last week to the highest level since april of 2011 according to the mortgage bankers. Purchase applications rose 2 week to week. Refis tank by 5 and down nearly 60 . With credit so key federal bank regulatories proposed new rules to major mortgage lending less risky. Part of that whole Security Council in the game from doddfrank or Risk Retention. Specifically they dropped the 20 down payment rule for a loan to be exempt from Risk Retention by the lender. They are now aligning their rules with the cfpds mortgage rules which require no specific down payment but do require borrowers pay no more than 43 of their income on debt, they document all their debt, that they make periodic payments. No more interestonly or negative amortization loans. These are less restricted rules than the original proposal two years ago and its a work in progress. Its not over until its over. So what would this mean if those rules went through . Would it make it harder to get a mortgage and hurt the Housing Market . Lets ask two guys in the trenches. Casey crawford and david lichen. Thank you both for joining us today. Thank you for having us. Casey, is there a bottleneck that exists in the mortgage industry right now . We hear its tougher to get a mortgage these days. Is that true or not, in your view . No. My view right now, qualified buyers are able to get mortgages very rapidly. Whats a qualified buyer. Has that changed in the last five years . Yeah that has changed in the last five years. That falls into a buyer that fits in the box of a fannie mae and freddie mac. We find near the default rates for these buyers are very allow. The default rate is at an all time low. What happens if this new law goes into if this becomes law and they have to retain a lot more capital in order to keep skin in the game when it comes to these mortgages. Borrowers will be hit with a jumbo ball. Northeast, Southern California some of those areas will be hit because those are the loans that fall outside of this conforming loan limits. David, i told this story on the air before. We had barney frank on not too long ago. Mortgages are harder to get these days after doddfrank. He said thats the idea. We dont want banks lending to people they dont think can pay that loan back. That is true. I want reminds me of the tshirt of a guy thats very overweight who says i overcame anorexia. We haworldwide exchange have regulators listening to us this time. The most encouraging part of this is the regulators are listening to the industry. While this has some features in it that we need to still work on the 30 down payment requirement, we have got network on this and continue to work anthony. But they made some great progress. Were pleased with what were seeing. We just heard essentially if you were a qualified buyer you can get a loan but a lot more work, a lot more down payment, et cetera, these new rules to were prevent people who shouldnt beltway home from buying a home and i want sounds like thats already happened the industry has excluded those people. Do we need additional regulation . No. This is the over correction. The head of the Consumer FinancialProtection Bureau alluded to. Obama even alluded we may have over corrected. Doddfrank, i stand in line at the airport with senator dodd like you were talking to barney frank. Theres been over correction to a serious problem and so we need to bring back to a balance. Thats what this trade association Banker Association of america is trying do. We in the press are trying to get the word out. Balance, balance, balance, dont over correct at this critical time where we need housing coming back strong. Gentlemen, thank you very much. Thank you. President of nintendo joins us today. Do you want to know who isnt a fan of what he does . Colorado rockies first base coach. You play video games yeah. Thats what the rest do, you come home from school you do your homework. That was so cute. Well get reaction from nintendos president and ask him whats behind a big price cut they announced. Up next, apple pay roll out a cheaper iphone at its highlyanticipated event next month. A smart move or a misstep. That sound bite was so cute at the baseball game. Okay, keep it right here. Ive been doing a few things for a while that i really love tdd 18003452550 playing this and trading. Tdd 18003452550 and the better i am at them, the more i enjoy them. Tdd 18003452550 so im always looking to take them up a notch or two. Tdd 18003452550 and schwab really helps me step up my trading. Tdd 18003452550 theyve now put their most powerful platform, tdd 18003452550 streetsmart edge, in the cloud. 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Lets find out which stocks were the big movers. A quick review of what worked and what did not in todays trades. Start with joy global slumping after the Mining Equipment maker report ad drop in quarterly orders. Also caution of sharply lower revenue. William sonoma on our radar posted Quarterly Results that beat estimates. Zale shooting higher. Reporting better than expected Fourth Quarter comps. Sticking with Retail Express also higher on the day reports and pleases postsales that beats estimates and guess which reported after the close q2, 52 cents. Best estimates on the top line. Well end here on apple edging higher. Apple suppliers higher today as well. Bunch of brokerages lifting higher. Apple now up 8 this month. Up 24 since the end of june. Michele, back to you. Speaking of apple they are throwing some real hay makers in the battle between google and april approximately. Google slashed their price by 100. Yes they did, michele. Thank you. Theres speculation that apple is going to launch a low cost iphone next month. Maybe for as low as 99. Good for consumers . Maybe. Is it good for apple and its high end sparkly brand. Joining us to weigh in todd had a hazel tennessee and john ford. You look at last years iphone not counting the fancy housing it was 199 to build thing. I think 275 is the floor on where a cheap iphone. Well get a cheaper phone. 2775 bucks if you buy it outright is still like 175 bucks cheaper than what you can get the cheapest iphone for today. Absolutely they will not destroy their margins by coming out with something that cheap. If its 275 or a much lower price than what they are charging now what am i getting or what am i not getting . To be clear we have to distinguish between contract and off contract prices. 275 could be off contract. Now going between what youll get youll get the fastest processor, the new a 7. A better camera. On the budget iphone youll get the plastic casings and lower end features. Lets go back to the original question. If you believe 99 bucks is possible with a contract and thats how much people americans buy their phones is that good for april signal. I dont think so. Part of the thing with apple they make these great premium products. When you drop it down its this midrange product, its plastic. But the ipod was super expensive. Thats a different product. Were talking about phones. When you get midrange puts they are not as exciting as high end products. Consumers are looking for that. Its lowering a brand. This new restaurant opens in town and now theres five of them. Would steve jobs have done this . Absolutely. How far to consider the iphone 4s already sells for 99 bucks. Its not like this is creating an entirely new price point. If they were to do this what they would be doing is bringing Fresher Technology at that price point. Expanding into those android buyers who want the latest thing but dont want to fay premium price. Those people could be drawn over. Also going after emerging markets. I dont think it will have the latest technology. Maybe beefier to make room for ois. I see it exactly as emerging markets. Also ntt in japan, those are areas where the iphone 5c fits better. Thanks, guys. Thanks very much. Changes are afoot for the super mario brothers, nintendo is slashing the price of its wii console and adding a new lower price handheld device to reenergize its place in video gaming. When was the last time you played supermario. A long time. If your kids are playing video games get home to put it down and watch part three of our series called school days. Changing face was college is coming up. Well talk about the course you should be investing in to obtain a good job after graduation. Stay tuned. [ indistinct shouti] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. 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Learn how at devry. Edu. We continue our school daze the changing face of College Series today part three now. Take out your pads and pen sills because class is in session. We have six pens and opinipencils. We have name of six courses students should take. Classes include science, technology and engineering and mathematics. Internship, business and economics, theater arts, professional writing and leadership studies. Can you read this on cnbc and written by kelly graham. Eric green from Greenberg Educational Group joins. So does chad oakley. Kelly why those classes necessarily . Theres a real variety going on there. There are courses that everyone is like huh about. When you look at how College Studio audience are presenting themselves we hear from recruiters and companies thats one of the big gaps. They are not presenting themselves well. Theater arts, improv. Something more serious, do Something Like a persuasive argument class, ethics. How to present yourself. You want to present yourself well. Eric, what do you think about this list . As kelly mentioned its not economics and business courses not for everybody so some people might need be flexible in terms of what they do. For example somebody could take a communications class, learn how to be speakers and adapt to a specific audience. Give end that companies are hiring only younger people the skill set that come out with is part of the resume test. One argument is look give the kids a curriculum thats practical that will be applicable to their careers down the road and dont mess what he calls the irrelevant stuff the liberal arts. Do you agree with that . The kids coming out of college today are they better prepared if they a more practical education . Chad . Great question. I do think in most businesses today they need individuals that are analytic driven strategic thinkers. Break down a problem into parts. Analyze them. Roll them back up into one grand solution and then to the. We talk about before some of those communication classes communicate it back in a persuasive way. What about the top of the list, science, technology, engineering and mathematics. When i see the numbers where youll make the most money its in those four areas. That certainly is something we hear a lot from the recruiters and companies, great major to be in. You can really chase which majors they say have the jobs now and where the someone now because that could easily change in a couple of years. Its about figure out what you want to do and figuring out the best courses and the steps to get there. Thats why we look at those internship driven picks. Internships are what every Company Looks for. A student can take what they learn there and pick Something Else that isnt a required course. We talked to one kissing major who had an internship and said i have to go back and learn how to do graphics and graphic design. I know now work in the field i need it. Let me play devils advocate and make a case for the liberal arts education. Thats what i had. Im not sure i would do it again. But, you know, youre supposed to be a more wellrounded individual when youve been exposed to the arts as well as the sciences, as well as the more practical classes that you can take in college to prepare you for life not just for a job. Thats a great point, bill but it doesnt have to be all or none. If somebody does a certain number of economics or business classes, say 10 , 20 of their classes that by definition still leaves 80 of the classes for liberal arts. A lot of people talk about throwing liberal arts out the window. The reality is the best thing for somebody do is take certain stem or stemrelated classes, integrate them with liberal arts and that can maximize their job potential. The letters stem is enough to give some people ulcers. If somebody is wise enough to take a statistics clarks anything that deals with big data, anything that deals with compilation of data in some capacity even if its not directly science related can be extremely valuable. I dont think it has to be all or known. The other aspect the whole notion of Vocational Training is underutilized in the United States. In certain European Countries its assumed a significant number of people will do Vocational Training. A lot of people are chad are you and advocate of Vocational Training as well . It can be extremely important especially for Technical Skills in America Today of which theres definitely a shortage. We talked about engineering before. Theres no question theres a massive shortage of engineers in the United States today. Thats why we have an issue with h1b visas in congress. If we cant make it here in america we thichl port it. Vocational training is a big deal. Kelly, you said you dont want to be chasing careers based on trends but ill say College Groups when i speak to them i hear more and more i want to get into engineering. If they are not going wall street they will be an engineer. Certainly students are very aware, their money has put a lot of money and effort to get them to that point. So why do they major in basket weaving and things like that . Like michele did. I mean we hear about these kids that majored in junk. Clearly didnt care what their parents thought. Thank you, ladies and gentlemen. Good stuff. Thank you. Watch out sony and microsoft. Nintendo has a new handheld gaming device. Still in the thick of mobile and home entertainment. No sure thing that will win back gamers. Nintendos president will be speaking with us soon. Stay tuned. Breaking news on financial regulations. Eamon javers has the story. Another potential nail in the coffin for swiss bank secrecy. A senior u. S. Department of justice official saying this afternoon that the United States expects to announce in the next coming days an agreement with the government of switzerland in which certain swiss banks could resolve the liability that they may be facing as a result of hiding American Asset from the irs in those swiss banks. The official said this agreement that maybe on the verge of being announced here would not necessarily apply to 14 specific swiss banks which the official would not name, but which have been under investigation by the United States. Instead this would apply to other swiss banks that may have had u. S. Accounts, those banks could come banks that may have had u. S. Accounts. Those banks could come clean, turn over all the names, all the information and resolve their lie ability here. Something else for people to worry about what may have been hiding their assets overseas. Well, the video Game Industry as we know has been taking more hits than captain price in call of duty. Michelle told me about that. The Holiday Season always brings good cheer and nintendo is hoping it will see some of that with some new pricing and new consoles to revive sluggish sales and announcing its cutting the price of the wi device by 50 bucks and launching the hand held 2 ds on october 12 and will retail for a mere 130. Joining us is reggie, the president and chief operating officer of nintendo america. Good to have you on. Why are you cutting prices . Is this an admission that they werent selling well . Not at all. Because the Holiday Season is critically important, 55, 60 percent of our sales happen during that time frame. We now have a great lineup of software and in this Business Software drives hardware. The price cut is a little extra. Every technology ceo that comes through here we talk about that dreaded word mobile. Everybody is going mobile, but you guys arent going mobile. Youre not making games for mobile devices. Youre sticking with the console concept. Why . Because its paying off for us, bill. The last three months, the nintendo three ds has been the top selling game system in the United States because we have great content driving that business. We have pokemon, zel da coming also. Is it the fear that it would can ballize your consoles . Its a business decision and its about driving the profitability. We make profits on the hardware and the software so we like having that twoprofit model. Were going to play a tape from a baseball coach to a kid in the audience at a fan base in the game. Its not nice to video gamers. Listen and i want to get your reaction. Do you play video games . Yeah. Dont do that, youll be a dpumy like the rest of he is idiots. You come home from school and the first thing you do is your homework. Do you understand that . Scared the heck out of that kid. Im a parent. Ive got three kids and in my household kids did their homework first. There is nothing wrong with kids having fun playing video games at the right time and place and for us thats a key part of it. Youre almost like the 32ounce soda. People look at video games and the spirit of what he was saying is that theyre bad, right . I know youre saying everything in moderation but somehow the video Game Industry has become the whipping boy or laziness. The fact of the father is this. A company like nintendo puts out brain age, wii fit. Were bringing innovation to the marketplace and creating content that fits in consumers lives and so for us everything from mario to wii fit is great content. Ive got one set, bill, this little 2 ds. I like it because it comes in red and pink. You like the color, thats nice. Its not the same styling, it doesnt have the same bells and whistles is that the 3 ds has, right . Almost the same bells and whistles. What we did here is focused on a key consumer segment, the consumer that for the standard 3 ds 170 is a higher price point, so this device with that slatelike form factor, it fits that consumer and by taking out the 2 d feature it allows us to target young kids, five, six, seven year old. We think its a great market opportunity. Reggie, thanks for joining us. A good color, too. And a good sport ond the sound bite. Breaking news on jcpenney. Whats going on, josh lipton . Reporter sold his jcpenney stake. We now know what price he sold at. He sold that to city for 1260 a share. Remember, the average price he bought as at around 25. Again, big ackman sold that jcpenney stake. We now no to city for 1260 a share. Bill, back to you. Crazy. Oh, my gosh. I said this the other day, why not hang onto it. If you are not going to be an activist investor anymore youre under wear big time but im not big ackman. Can quickly understand my charts, and spend more time trading. 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With a little better Economic Data we can retain the rally, give people confidence this economy is ready for the tapering. Jason, what are you looking at . Were focused on the same three job reports same three reports which include revised Second Quarter gdp. We expect that number to move from 1. 7 to above 2 percent. Also initial claims, anything below 330,000 should be positive for the markets and continuing claims as well, a number less than 3 million should be supportive. We dont expect big surprises. All of this could be overshadowed with developments in syria. Gentlemen, thank you. Before we go, heres a look at the day on wall street. We did end higher today even though the markets finished off of their highs, gain of 48 for the dow. The nasdaq climbed 14. The s p 500 marked by four and a half points and the trading day marked by the very moving speech by president obama on the 50th anniversary of the i have a dream speech. The question is everybody is asking is what would the markets do if a strike occurs on syria especially during market hours which would make sense given the time change. Well wait and see what happens. Always a pleasure having you with us, michelle. That does it for the closing bell. Thanks for watching. Fast money starts now. Well see you tomorrow. Live from new york its wednesday, early evening. Hi, everybody. Im Brian Sullivan in for melissa lee. Your traders tonight are those guys. Wait a minute what . I did that on purpose. Tim, dan, guy, mike khouw and former trader and cnbc newby domenic chu. Now that the hugging is over lets get to your top y