Apple actually losing the smartphone war . Well explain that. First to sue. A little nervous tone to the mark today. Investors nervous with wall street getting more negative about growth estimates, and super tuesday may be in danger, the s p 500 has risen 15 of the last 17 tuesday this is year. So right now were in danger of losing that. The Dow Jones Industrial average up 78 points, s p 500 off 7 3 4, the threeyear note, which is at auction today, the yield right in and out is at 0. 886 . We should get the results momentarily. We did dip below the 2. 6 mark earlier this morning when those jitters were more extreme. Bob pisani joins me here on the floor. Its a little tough for the markets, because were still held hostage by the tenyear yield. Sue is right. When we drift below 2. 6 , the market has no energy, were essentially there right now, but look at the s p 500, youll see what i mean. Weve got largely down all day. Weve been at that 2. 6 and below it. You can see it goes nowhere. If the yield would go up, the stock market would rally, i can assure you. Im not a geez union or genies. But working in an inversion relationship. Its as simple as that. The stock of the day is twitter. Folks were near 80 million shares trading shares. The lockup has expired today. It originally went public 26 a share. Forget that. The insiders own this at 2. 20. Thats the average price. Somebody is selling. Remember gundlact saying single house been was over. And thats really the only news thats still out there. Interestsly enough, he also said apple will go north of 600, maybe not much north, but were sigh that play out. Lets close with a bang. Weve some weakness in europe, largely back barclays came out and said they have the same problems as jpmorgan. With weak bond and occurrencely Commodity Trading trading a major part of the revenue stream for a lot of these banks, Deutsche Bank as well, and remember a lot of these banks are being limited now, even in the u. S. , they cant trade on their own accounts because of the parts of the dodd frank bill as well. So this may be a longterm issue. And some of the european banks report this week, too. Breaking news in the bond mark. The threeyear note is up for auction. How did we do, ricky . Im going to give this auction a b. I know i told the boys in the control room a bminus. First of all, 29 billion threeyear note. The one issue market was trading back and forth between 0. 935 and 0. 925. We somewhat came in right there in the middle. Even arguably better off. So that wasnt bad. The bid to cover, better than an ten auction average, it was a bit weak on the indirects at 28. 1 below the 34 , but direct is one of the best sin february 13. We always like to see when the dealers do not take a big jump. That means investor took the big, dealers about 47. 5 of this auction. A b, not a bad auction, one of the higher yields youll see in the threeyear note. Sue, tyler, back to you. Shoe investors be concerned or not . Art hogan is at oner lick securities, and cohead of fixed income. Art, nice to see you again. We saw each other last night at a celebration for larry kudlow. First of all, what do you think the bond market is tell you about stocks . Should we be worried about the stock market right now . I would certainly be concerned if the bond market was reflecting a prediction that the economy was going to continue the pace we saw in the First Quarter, and were slowing down, not speeding up. I think what the bond market, especially the yield on the tenyear is reflecting issee on politics. Were concerned about tensions, ukraine, russia acceleration. That rhetoric continues to pick up. Its hard to envision an easy way out of that situation, tarmt its reflecting dynamics. You know, defensive dead issuance, the government by and large a chunk of this. Youve got three dynamics that are going on. Unrelated to it being a barometer of the pace of the u. S. Economy. So i think thats less of a concern. The market is not going to rally and make a new high when the tenyear yield is sitting where it is. What can you add to it, the geopolitical risk, i certainly understand, but the bond market seems to be telling us a slightly different story that is the stocks are telling us. Well, i hate consensus, but i have to agree with a lot of what art said. We do think that the fact that the Federal Reserve has engaged in a policy where they bought up most of the supply or stock of the high quality assets out there is having an impact. We do think that theres a divergence between the long term and the short term here. I think the longterm effects of fed policy, keeping funding costs at zero for over five years has made risk assets generally overpriced. The short term, what we have been seeing going on theres big buyside firms, and i think that will have an impact and its going to make it look like the bond market is negative over the near term, but we certainly think the First Quarter gdp growth is not indicative of growth going forward. We would describe the employment report as the Rodney Dangerfield of employment reports. It was much better than people give them credit for. If you were to deploy capital into the market, what stocks or sectors still hold value for you . I think that this transsis from momentum or growth to value is going to continue. I think we want to look at the energy sector. Gulfport is one of our favorite names there, certainly the regional banks in the south. And theyre all doing a great job of increasing loan growth. Were seeing demands for growth, thats indicative of what could be a pickup. All right, guys, thank you very much. Art, a pleasure. Larry, come back and join us soon. Bubble trouble, red flags being waved on a number of stock that is have soared well ahead of their valuations. Dominic chu naming names. What do we mean here . Theyre injures selling at high p. E. S . Theyre selling at high p. E. David einhorn made allusions to this. We talked about smell names in the amazons, the netflix, heres three names, theyre larger cap names, but ones you may not have heard of in terms of the bubble talk. Bushelitiousness. Heres the first one, tyler. This is a mystery chart, october . This particular company has a price to earnings ratio of 351. This is a hollywood company, but its not netflix, and it deals with original content on the animation side. It is a studio. I will give you that much. It looks a bit how to train a dragon . Is it dreamworks . It is dreamworks. The chart looks a bit like batmans headdress right there. So dreamworks one of those companies that some investors may think of as bubblicious. You think . Heres another one. This company has a pretty decent up side. And just as art said. Some are moving out of growth into value stocks. This company deals more for certainly parts of the market 1,237 times earnings. Thats a little stretch. It could be. This stock in particular deals a little in satellite communications. This is a company that does more along that line, so make its not dish, is it . No, check out what it is. Tab tab lo software. Thats the problem. You threw me off. I would have gotten that. Absolutely right. This ipo just last year in may, about 1200 times earnings. So here is the one is that forward earnings. Trails earnings nchts i thought it was forward. Heres the next one. 1500 times earnings, satellite communications. Its not dish, but it operates satellite and has a Broadband Service as well. It was a huge name back in the late 80s, early to mid 90s, echo star. Think hughes, echostar. You told me. All right. Got it. Its up 50 , but it trades at a lofty valuation. These are all companies in the mid to large cap range. Its not just the amazons and netflixs. Dom, thank you very much. Always worth looking at those valuations. Sue, down to you. Thanks, guys. Major news from the auto industry. While gm trying to navigate the recall crisis, rival chrysler unveiling the fiveyear growth plan. Phil lebeau is here with details. Hard to believe five years ago fiat took over chrysler. Well, they have done something with it and no sergio is now laying out the next five years, revolving around the jeep brand. They are on track to sell more than 1 million jeeps worldwide this years, and theyll be expanding production over the next four years to six countries. Look sales of jeep sales from 2009, to. Almost 2 million vehicles expected to be sold worldwide. Thats the positive story. For fans of the minivan, well, this shouldnt come as a surprise, but its not great news. The Dodge Caravan will be going out of production starting in 2015. Now, the town country will still remain around, so that will le chryslers only minivan. By the way, the chrysler brand plans to double global sales by 18. After the bell today, Fiat Chrysler reporting First Quarter numbers. As has been the case for the last severity, most are expecting the positive news to be from the chrysler side of the house. And there will definitely be a lot of questions, tyler regarding the Fiat Chrysler ipo thats expected to happen later this year. Tyler . Phil, hang in there with us. Were going to bring in senior ander jessica carwell, from edmunds. Com. Good to have you with us. Phil detailed how chrysler has been doing. I want to get your view on it. We know about the ram trucks. Weve just learned theyre going to stop making the Dodge Caravan. What else is working for chrysler right now . Theyve had 49 months of year over year sales growth, so thats good. I think what they have done is theyve tried to expand into different markets. There still is pentup demand, theyve been successful there. That will not work forever. Theys only need a brand renaissance. The jeep has been compared to chrysler doing doing very well. The world really wants suvs, places you wouldnt expect want suvs. Jeep is primed to take that here in the United States and abroad. Im curious to why jeep is doing as well as it seemsingly is. Youve got new models, tyler, but my recollection is on some of the measures, they dont score particularly well. Theyre better than they used to be. Thats the bottom line. They used to be really, really down at the bottom when it came to reliability, and frankly in terms of styling, you would get into a jeep about five years ago and say, i like it from the outside, i dont like it on the inside, and i dont like the way it drives. You look at the other models, theyre a huge improvement from where they were. As jessica mentioned, the world wants suvs, and when you look at the growth plan for china, that is the key here. They have very little presence. Theyre going to grow like crazy. Their remake of the grand cherokee i would call aggressive styling, either you like it or dont. Yeah. I want to play some tape from last night, jim cramer, talking about gm. As much as gm keeps getting hid with bad press. With highprofile resignation, in the original recall, i think this is one of those crucial moments where you have to be a buyer, not a seller. Thats right. Im telling you to buy. Do you . Yeah, i think so. I think that theres so much a lot of negative press, but theyre still selling cars. People are still looking at General Motors vehicles across all of the brandt, so it looks like a disconnect. So i think if thats the kay for the full, i dont think what there is not to like. Always good to see you. Dominic . Pfizer moving to session lows, over the next decade, this after a shortterm drop, plunging into a disruptive merger. What the heck is going on down here . I dont know. All of a sudden we started hearing screaming buy buy buy. That was four years ago today, the flash crash of 2010, which rocked the u. S. Stock market. The dow plunged almost 1,000 points in a matter of minutes before it turned. Are the markets safer for investors now than they were four years ago well debate that when we continue on power lunch. On with fidelitys new active trader pro investing platform, the information thats important to you is all in one place, so finding more insight is easier. Its your idea powered by active trader pro. Another way fidelity gives you a more powerful investing experience. Call our specialists today to get up and running. What is this place . Where are we . This is where we bring together reliably fast internet and the best in entertainment. We call it the x1 entertainment operating system. It looks like the future we must have encountered a temporal vortex. Further analytics are necessary. Beam us up. Thats my phone. Hey. [ female announcer ] the x1 entertainment operating system. Only from xfinity. Tv and internet together like never before. Everyone else is watching and seeing these big numbers and their confidence gets affected. They are pingponging back off each other. People are seeing this and the memories of fear are coming back. What is going on here . All of a sudden we are hearing screaming buy buy buy. Dow jones industrial average dropped more than 900 points. The markets didnt work. Fear came back in the market in a very big way. The general public has not been willing to get what a moment that was. Today marks four years sinces the big flash crash. Have things changed . Are the markets any safer . Lets bring in bob pisani and kenny policy c p. M. Olcari. Has anything fundamentally changed that leads you believe from your work that things are fundamentally different and or safer . The s. E. C. Has put in a lot of reforming to try to prevent this thing from happening. But many flash crashes all the time. And since then what have we seen. Weve seen the facebook fail, weve seen the bats cave in, weve seat the night capital nightmare. All these things have clever names now, even the terrible tweet from that hoax a. P. Tweet happened and the market dove on that and then bounced up when people realized it was a hoax. So weve kind of gotten used to these. I know how you feel about this, but has anything fundamentally changed . I think from a fundamental point of view, the s. E. C. Has fixed that problem, right . Dont forget we had two rule sets when that happened. And it was the failure of those two rule sets that caused or exacerbated that problem. Today once the primary everyone stops traiting so the stocks can no longer trade. In that sense they fixed that problem. As eamon said, we have a lot of Technology Glitches or mini crashes, call them what you want, and the risk the failure. Listen, the route that were implemented, the Circuit Breakers have been tremendously successful in keeping volatility down, i think. Eamon is right. There are many flash crashes that occur, a number of reasons they happen. You can tighten the collars. We have collars that allow stocks to trade within certain bands when theyre halted. We could tighten those collars. You could also change the Market Structure. Theres 13 exchanges, 40 dark pools, a lot of points of failure. But thats to kenny ace point. You think thats going to happen . Seriously . The best we can hope to is go to 13 exchanges and eliminate the others. On capitol hill, eamon, and within the s. E. C. , is there the appear tide to fundamentally change Market Structure . You know, right now ply political instincts say no, and the s. E. C. Says its doing an overall review of Market Structure, but doesnt give you a time frame of when thats going to come out or what the work product will be. Whats going to come out of that. That is ongoing right now. Whether it leads to any actual changes is an entirely different question. Your question about political appetite is a good one. Does Congress Want to do anything. Maybe in the way of the Michael Lewis book there would be interest. Mary jo white was testifying last week, a lot of members of Congress Asked her about the book and whether the markets are rigged or not. My bet is youre going to be very limited action. I think youll see a limited toward a trade at rule. I think they will likely do some kind of test pilot for that within the next few months. Other than that, i dont think youd see massive moves. I think theyre very afraid of making any wholesale changes. Very quickly, kenny, and i got to go. Until such time that maybe they realize theres something going on that shouldnt be going on. Goldman is already considering it, they dont want to be associated. A trade at rule might be makes some changes. Big changes. Thank you so much, guys. Appreciate it very much. Sue, thank you. Two big stories were watching. Twitter shares tumbling, and the rich just got richer. Dominic chu and Morgan Brennan on those stories. Dom, you first. Theres rich and then theres the rich list list. Next well reveal the top Fund Earnings hedge fund managers, find out who made the cut and how they made their billions. Of course, twitter is a huge stock on the move, morgan has more on that, dont you . Reporter i do. What happened to a stock when more than six times as many shares could be traded than the day before . Well give you the answer to that, after the break. At, after. Its simple physics. A body at rest tends to stay at rest. While a body in motion tends to stay in motion. 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