Almost 2 of the lows of the session. Look how quickly rebounced back. That 1. 2 decline put us right at the correction move. We were down about 10 from its recent house, maybe a bounce off that level is what we have . Havent had a correction in the nasdaq since 12 to. Yahoo is going to report earnings. The question is how much will that affect trading activity as well . That and a couple other companies will be reporting tonight as well. Speaking of fast moving changes, if you were watching this show yesterday, you know anything can happen in a final hour of trading, and heres what we were talking about. 3 00 yesterday, the dow fading fast. Only to do a stunning turnaround in what some down here, yes, were calling the shaq rally. There he is. When bill and i started interviewing the former nba great here at the exchange, maybe coincidence. I think not. The real point of all of this, we need to get shaq back on the floor right now. I think the traders would agree with that. That was an amazing bounce we saw. That shirt doesnt really show it justice. You can see the whole decline and, boom, right at the end, so what is really driving activity in the final hour of the show yesterday and day, anybodys guess but shaq might have had something to do with it. A lot of excitement at the new York Auto Show. Mercedes is about to unveil a brand new model no one has gotten a look at yet. The german automaker excited about this new car. Whats so special . They will show you and the rest of the world coming up in about ten minutes. Now, heres where we stand on the markets. The dow is up 55 points. There it is. 16,229, the level there. The nasdaq, as we mentioned, just barely green, less than a point, and the s p 500, broad market index is up 8. 5 points today, half of 1 , bill. Here we go. Todays action in our closing bell action with amy wu and bill smith from s. A. M. Advisers and dan mcmahon from Raymond James and rob morgan and sheila joins us from the Nasdaq Market site given all of the volatility there today and, of course, Rick Santelli joins us from chicago. Sheila, ill start with you. Is anybody trying to look at the reason for the volatility . The action weve seen here today is unbelievable. At one point we were down about 1. 8 here on the nasdaq, four and a half month low. Basically now at flat levels and erased all the losses. Traders say this is a market that will continually try to test the lows. Tried to break that 200day moving average. Didnt quite make it so maybe youre seeing a reaction to the fact that you didnt make it. Maybe youre seeing Short Covering particularly in the high flying momentum names and biotech names and a lot of people run clear right now. The only thing im hearing definitively, earnings, earnings and more earnings, a big week for tech earnings. Rob morgan, what are you doing in this market . Well, kelly, i still like stocks overall here, even with the volatility. I think really the cold weather in the winter and, of course, the ukraine crisis has held us back a little bit here, but i think were going to see a pretty decent earnings season overall here. Stocks certainly arent expensive at this point, and the Retail Investors still havent gotten back into the market, so im still we learned that from Charles Schwab this morning to some extent. Has your view, rob, changed from january . You know, not really. I started the year really liking smallcap Growth Stocks and, of course, weve seen bigcap value stocks do better. I really think thats kind of a head fake right here based on what i mentioned before. Really. The cold weather, the ukraine crisis. I think, you know, as the year goes on, well see the small caps and the Growth Stocks do better. Youre adding to positions here in the smallcap space . Absolutely. Absolutely. Wow. Amy wu, this kind of volatility is a traders dream. Im not so sure its a dream its more like a nightmare for individual investors, but what do you make of this volatility . Does it act more like a market topping out or a market putting in a bottom right now . What do you think . Well, its certainly true that we are seeing more volatility, and one thing ive been saying since the beginning of the year is obviously with the fed taper going on, the bernanke put effectively removed, this is more of a normalized market. This is what youre supposed to be seeing. We sort of have gotten used to less volatility because of the put that had been in place. One thing ill tell you though let me just say let me just say the bernanke put, for those who dont know, was knowing that the fed was going to be there to add more liquidity, if possible. Sort of put a floor under the market for a while there. Go ahead. Yeah. Thats exactly right, so i think to some degree its the fact that people have gotten used to such lower levels of volatility that this does seem quite surprising. One thing i would add to that, you know, theres a little bit of sense of deja vu. If you remember last year, there was a defensiveled rally. Were seeing defensive leadership now, but that was followed by a bounce in the higher momentum names. A lot of people in the options put market are trying to play that through call options. Bill smith, what about you . Are you looking at going bargain hunting and picking names in the mallcap space, maybe some of the momentum names here maybe . Definitely not. Typically looking for eventdriven companies so Johnson Johnson which reported great numbers this morning, the new ceo alex gorsky, has a huge portfolio of companies that hes able to now divest, spin off,ette, using those funds to either buy back shares, increase the dividend or reinvest in some of the faster growing companies under the j j umbrella. Same thing with occidental petroleum. Youre basically looking at divestitures, things that you dont have to necessarily bet on momentum names. What about some of the companies, bill, so inquisitive, googles of the world, twitters shares today are rebounding nicely, i should add. Dealing with such a massive hangover of the ipo. I hate to call it a bubble. The speculative ipo market thats putting great deal of pressure on investors in that sector so theres a lot of money coming out of certain names and still playing the catchup game with the ipos. Rick santelli, seem to have a conundrum today with yields on the tenyear at a one and a half month low and that would suggest a rush to a defensive play of some kind, but gold, which you would think is also a defensive play, is down at a twomonth low, down 25 today. Pars it out here. I think between marching calls and liquidity looking for a home, geopolitical issues, i think it makes sense, and i think that, you know, its a mistake for investors or actually listeners and viewers to think that the markets are super logical all the time. For 2012 and 2013, you and i, many guests had many debates that the price level of stocks didnt necessarily match the activity level of the economy so when it unrevels, why should there be logic . Everybody is trying to ask why is this happening, must be rhetorical. Lets look at the next 24 to 46 hours. Find that chinas growth rate is the lowest in two decade. Japan will lower their growth outlook. Both countries are question eing into the roof line and when it comes to the u. S. The curves thats the flattest in close to seven years. Weve seen the relationship to bunds in ten years, the widest its been in ten years so i dont see how some of the rates can go up in the u. S. On a relative value argument it doesnt make sense. One final thought, keep a very, very close eye on whats going on in the dollar yen because the leverage nervousness will show up there just like it is in the derisking of equities. Dan mcmahon, help us make sense of it all. Well, i think if you spoke to investors a couple weeks ago the overwhelming consensus is that it was very difficult to find value in this market anywhere across any spectrum in the globe. What youre seeing now is an opportunity, and youre not seeing panicked selling, people taking money and derisking a bit and buyers are being very passive and waiting for the market to come to them. What we have this week, now that were full into earnings season is thursday will be a very important day. Its a lowvolume week with spring break going on around the country, and thursday with options expiry is going to create liquidity event and will allow people to go forward. Were hearing about the trend towards defensive plays again, going back to the dividend payers, going back to the economically sensitive stocks like the foods and health cares. Is that where youre going . Outperforming the high flyers. Youre seeing a bit of outperformance in the defensive names but they, too, are for sale. You mentioned earlier this type of market can be a nightmare for the Retail Investor and we dont necessarily believe thats the case. You have to expect these kinds of dips and pullbacks. Intel and yahoo on tap, dan. How important will those names be for some of the beaten down parts, and especially like you said of anything that ends in tech in that sector . I think the tables have been set in tech, and these are obviously bellwether names coming up, so they can change the direction in one fell swoop, but, you know, starting to get a little bit of footing as we pull back to 10 . Starting to see a bounce. Those names will tell you whether its a real start for the next leg up or just a dead cat bounce on the way lower. Very good. Thank you all. Appreciate it. Good to see you guys. More with you later. 50 minutes to go until the close. Up 45 point. Like the weather in denver. If you dont like it now, it will change any moment now, and the nasdaq is down 8 points. Like the random Number Generator of the payrolls report. The nasdaq heat map, nasdaq 100, not exactly a sea of red. Getting a few more greens creeping in there. Well tell you which tech stocks are dragging it lower the most. Drum beat of earnings. Getting louder. Yahoo intel and csx all posting results after the close. Dont miss interviews coming up with stacy smith and michael ward in the next hour. Today only, for one day only, like a groupon sale, google glass available to the public for a cool 1,500. The pros weigh on if and when google will see a significant revenue stream from this highprofile entry into wearable technology. You know, groupon or some sort of discount may not have been a bad idea, 1,500. All the same, mercedesbenzs new super car promising to go from zero to 60 in less than four seconds, and wait until you see what it looks like. Mercedesbenz usa, a new first seen on cnbc interview coming up next. Up next. Up. A short word thats a tall order. Up your game. Up the ante. And if you stumble, you get back up. Up isnt easy, and we ought to know. Were in the business of up. Everyday delta flies a quarter of Million People while investing billions improving everything from booking to baggage claim. Were raising the bar on flying and tomorrow we will up it yet again. Crazy volatility day for the major averages. The dow all over the border, up 99 points at the peak and down 110 at the low. Nasdaq, same thing. Down 1. 8 at its low today. Now back in positive territory, and the s p is up ten points. What a day. Dominic chu joins us now. Whats moving markets here today . Its like deja vu all over again. The same kind of action in yesterdays kind of trading. Start with the big names moving in todays trade. Cocacola and Johnson Johnson both moving higher after reporting strong earnings. The coke ceo telling cnbc that the beverage giant was regaining its momentum. And a strong day for twitter as well in the social media front. Earlier it announced its buying social Media Provider ginnep for a small sum and a different story for aarons, the renttoown furniture and Electronics Store rejected a 2. 3 billion takeover original from vintage capital management. Instead, it went out and bought a Retail CreditFinancing Firm for 700 million, and were going to end with Zebra Technologies falling after it said it would buy Motorola SolutionsEnterprise Business for 3. 5 billion in cash so zebra, yes, down towards session lows. Kelly, bill, back over to you. Thank you very much. The new York Auto Show is taking over new york city this week, and mercedes unveiling its highest performance sedan. Phil lebeau has a sneak peek for us. Forget whats under the hood. Whats under the car cover . What do we get to see this . Reporter a world debut. Steve, lets tell them what this is all about. Lets get right to it, the World Premiere of the s63 amg coup. This is your performance line, but what stands out about the s63 in your opinion . For me the s63 is where beauty meets intelligence meets raw performance. I mean, i think if this car were a person, it would be kate upton with a harvard degree who could outrun usain bolt in 100 meters. Thats how accomplished this car is. You havent announced pricing yet but somewhere in that 150,000 range, at least for a start at that point. Thats rarified air in the auto business, but you believe youll see pretty strong demand. Such a strong lineup for us to continue to flex our muscles at the top of the automotive range with the scoup and the amg lineup it benefits the entire lineup, for the cla up to 29,9, thats quite a model. You have to tell everybody the statistic. What percentage growth did you see in your amg lineup last year . We saw significant growth. Up 74 this year. 74 . So were out of the gate strong, and thats before weve even launched products like this, so its going to be a great amg year which speaks to the strength of the marketplace. I know bill and kelly have questions for you. Guys, go ahead. We do. Oh, boy. Im laughing at that line. Kate upton with the harvard degree. Still working through that one. Wouldnt a kate upton car be bright red or something . Whats the real revolution this represents in terms of innovation, if any, steve . What im trying to say is this is the most beautiful car weve put on the road, and we coupled that with intelligent drive, essentially the most intelligent car. Sees the road ahead of you, uses sensor to sense accidents and respond before you could, level of intelligence combined with that beauty and adding the amg brand to it and rockets from 0 to 60 in under four seconds, faster than a porsche, a pretty powerful combination. Clearly this is on the high end. What about the low end . Im curious. I see all the models out on the road now, steve. Where are you taking that model right now, and im curious about hybri hybrids, too, will you ever do Something Like that . So the cclass, hybrids will eventful find their way. The cclass launch comes in september so an all new generation c which takes all the technology from the s class which Just Launched last year, and youll see that in a cclass at a price point of under 40,000, bringing the technology from our high end product and eventually you will see it throughout entire industry. Phil . One last question here, steve. You saw sales of greater than 300,000 vehicles last year, record year in north america, in the u. S. Specifically. Is most of that growth coming from the mass Market Brands right now, or is it coming from the other Luxury Brands that are out there . Where do you see most of your growth . Well, were conquesting kind of from across the board. The cla is 80 conquest rate. For the new card we just brought in. Eight of ten people brand new to the mercedesbenz franchise. Some coming from luxury makes from bmw, audi, lexus, coming also from toyota and volkswagen and weve invited new people to our brand. Do you get up to 350,000 in sales this year or is that a little ambitious . Fighting for every extra car we can get, but well have another record. A constrained environment but a very successful one. Steve cannon, the head of mercedes usa on a day when first on cnbc you had a world debut with the s63 amg coupe. A beautiful car. Constrained supply environment. Yeah. Very interesting. You know. Production is trying to keep up pace with demand. In some parts. Absolutely. 0 to 60 in 4. 5 seconds, where am i going to do that . If i try that on the palisades parkway the cops are on me in a nanosecond. You have to find something, surely not the acceleration right, that matters, but just that end speed, so anywhere you can go 60, start and stop and go over. Kind of like the markets today. Heading towards the high of the day. Up almost 90 . The nasdaq adding 14 after being down, you know, much more than 1 not long ago, bill. Speaking of innovation, google is hoping to see a lot of green some day from google glass, but will the buzz surrounding its hot wearable product wear off before the profits come in . General electric, one of the most widely held stocks in the country as questions about ceos jeff immelts successor make the rounds on wall street. Well discuss when is the right time for a ceo to go. Dont go anywhere. Back in two. Back in two. In the face of danger, and under the most demanding circumstances. Experience builds character. Experience builds confidence. And experience. Has built this. The 2014 glk. The engineering, and the experience, of mercedesbenz. See your authorized dealer for exceptional offers through mercedesbenz financial services. If yand youre talking toevere rheuyour rheumatologistike me, about a biologic. This is humira. This is humira helping to relieve my pain. This is humira helping me lay the groundwork. This is humira helping to protect my joints from further damage. 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