Baghdad. There is new fighting today. Shiite clerics telling their followers to take up arms against the approaching sunnis. This is what religious civil war looks like. Statement American Contractors stuck in iraq are scrambling to get out of the country as fast as they can. We will have their story straight ahead. A new report from the u. S. Government says 96 of the shale in one of the countrys Biggest Research areas is unusable. What will that mean for u. S. Energy policy. As that crisis in iraq grows, lets take a look at where oil is trading now. Brent crude is trading. Up about half a . Bob, youre going first today. How does it feel . Its pretty simple. Essentially down at the open, but we have drifted to the upside, president made some comments just before noon so the s p 500 is on the up side. The other key point is you see the nice move up is the transports. At this time so you see a nice recovery in all the transportation sectors. Another group that continue toss do with is but all of them are on the up side. This is way, way overbought. It just keeping moving up. Alcoa is on the up side, and allegheny tech, theres a upgraded over at bmo. Heres a group that is been having trouble all week. We have seen rates move up a bit this week. But not a dramatic move up here. Thats something that bears a bit of watching. Back to you. We will watch it. Up down. Were up about eight points on the day. Losing steam here. Were up again, as i said about 8 to 9 points. Deal flow on. The restaurant online services, extending beyond travel. A lot of traders also the move. Companies that have exposure to the bookings, reservations business, the question is, of course, will other Internet Companies also find value. Intel a big talker today. It was late to mobile, but pc demand, who would have ever and were also seeing a big move in chip stocks. Sue . Seema, thank you very much. Mary . Coming off the highs of the day, germany is seen as japans mitsubishi heavy industry are set to make a joint offer. This would counter the bid for the assets of the french firm. And would have the french government taking a stake in al strom. You can see shares recover from the lows of the session. Back to you, tyler. Mary, thank you very much. Get ready for higher Interest Rates. Rates in the uk could rise sooner than Financial Markets suspect. A surprising warning that Monetary Policy may start to tighten just a bit in the coming months, but it is markets are still trying to decipher exactly what mr. Carney meant. Most economy experts expect them to increase in the Second Quarter of next year. The big question here, would the fed follow. European markets under pressure today, following that rate talk. The uk ftse down about 66 points, the british pound hitting a oneyear high against the dollar. Sue . Well, ty, jim cramer advocating a little caution. Heres jieff morrow on mad money last night. The market despises uncertainly, and we have uncertainty from a place we were trying to forget iraq. If you have cash, do what we did for my Charitable Trust today, which you follow looks at actionalert. Com. We did nothing. Thats right, nothing. I like to stay on the sidelines until we get a modicum of clarity. Joining us is craig columbus, and in minneapolis, jack brewer, ceo of the brewer group. Jack, im going to start with you. Jack, do you agree with him . Totally, i think jim is right 09 ball. With the situation in iraq, obviously thing are in turmoil, but right now, with the price of oil rising a bit, weve been investing pretty heavily in the airline sector, bullish on names like american airlines. Were being cautious, but at the same time we think over the long term, we will get through this, and hopefully the stocks will remain strong. Craig, what are you doing in the market at this juncture . Last time i talked to you, you were being selective. I think patience is a good word. Its positive since we last talked that rates have stabilized. I do respect that growth has been outperformings value. Im just not fully sold on 4 u. S. Growth. And food and Energy Inflation is sapping some of the consumer strength. We saw that in retail sales yesterday. So patience is a good thing here. What stocks, jack or rather, what sectors do you like in the market . What sectors do you like in the market . And are you still in the highyield corporate sector . Well, yeah, i like highyield. I still think thats a safe bet, but right know were focusing on the emerging markets. They performed incently well for you. Were getting, you know, 9 , 10 p. S , 11 yield, which is great for our clients. You know, places like india, where i just returned from a trip. I mean politically theyre becoming more stable. Theres other emerging markets that i think have growth potential, especially when compared to the United States. Gentlemen, we have to leave it there. Thank you very much. Good to see you both. Sue, check this out. A luxury home dangling over a cliff near ft. Worth texas has been set on fire now and destroyed after a part of the cliff the home was sitting on collapsed, fell off. Livid i dont, as you see that house intentional set ablaze. Officials looked into whether the house could be pulled back by cables. It turned out it want a viable option. The homeowner is hes financially responsible or she, for the clean up debris and remove. The build was built in 2008, and appraised recently as more than 700,000. Shiite leaders in iran are telling followers to prepare for fight them. President obama at the white house today, one hour ago, saying u. S. Troops are not part of the equation. This is iraqs responsibility. New video now, new fighting on the road to baghdad just a short time ago, president obama also saying the fighting in iraq is the spillover from the civil war in syria. We will talk to a former official from the pentagon in just a moment. Michelle carusocabrera also following the fighting, and first, though, we go to jane wells a u. S. Contractors who are trying to escape the danger in iraq. Some sxloiees are become evacuated. Lockheed in the process of selling to iraqi, tell cnbc as part of efforts, it is pulling, quote, a small cadre from balad air base. Quote, all Lockheed Martin employees are safe and security at this time. Boeing telling us it does not comment on the status of employees overseas. It owns in situ, but the operators to run them in foreign theaters. Its unknown if theres any in situ employees in threatened areas, though there have been employees at balad. The Washington Post reports siemens is working to get about 50 employees out. Ed daily mail reports that several hundred American Contractors still want to leave. Mean thai the post reports that personnel at the embass in baghdad are staying put and protective Services Like dyncorp saying it wont discuss security measures, but triple canopy says it is monitoring the situation and assuring the safety of our clients and employees. With more on whats happening on the ground, this is obviously a quickdeveloping situation. Lightning ped. The government still working on a possible response to the mill tans who overran the second largest city this weekend. President obama spoke last hour about what he is considering as a responsible response. They needs to bolster the capabilities of Iraqi Security forces. We will not be sending u. S. Troops back into combat in iraq, but i have asked my National Security team to prepare a range of other options that could help support iraqs security forces. Ill be reviewing those options in the days ahead. The days ahead. Think about that framework, no rush at this point. Were told theres quiet on the streets of mosul, second largest city, so much so the insurgents could hold a parade in seized vehicles. Also, hundreds of thousands of iraqis still fleeing from fear of either american air strikes or fighting that had been going to kurdistan in the northeast. President obama also expressed frustration earlier about the iraqi armys inability to fight off the jihadists. A lot of questions about the capability of that army. This is video from monday. In it you see members of the army dropping their weapons, then filming the fire fight on their cell phones. Generally theyll tell you thats not a good signs. And iraqi uniforms piled up oiling. They stripped them off after fleeing from the posts in order to better blend in with the civilians. Clear lir a lot of questions about the capability of the iraqi army. Were going to bring in a guest. Kathleen hicks from the center for strategic and international studies. They previously served as undersecretary. Good to have you here. Is it too soon to say, basically it was a mistake for u. S. Soldier toss leave . Do you agree with that or not . I dont think thats the Biggest Issue right now. I think the issue is looking forward and how to deal with the issue. And possibly could continue on to jordan. Thats the name of the game for the United States right now, is how it works with the regional allies to try to start to shore up the security in the region. Its my understanding that you believe from the short term that iraqs borders are moot. The sunni group is in charge from syria into iraq territory the is it possible for iraq to be glued back together again . Or is it going to be the next syria with this seemingly endless civil war . I think its much too soon to determine what the longterm end state for iraq is, but i absolutely believe in the northern part of the iraq the kurds will believe their security is best pushed up by their own forces. I do think the border between syria and iraq is very much fluid at the moment. It would be hard to close that border back down. What about iraq . What are they likely to do . The iranians are already senting revolutionary guard into iraq. Were seeing that now, to assist the iraqi government. I think the United States and iran are going to need, if theyre not already, will be needing to have direct conversationses behind the scenes about how, believe it or not, they Work Together to try to start to stem down the violence inside iraq and particularly to protect baghdad. This is an untidy situation, isnt it, kathleen . That is an understatement. Its a very untidy situation. Thats true, again, throughout the middle east. Certainly we have seen that in syria. I think the fact that its coming to iraq brings it home for americans, just say that the u. S. Is finding itself in a position where it may need to be speaking to and cooperating with iran showing you how sun controlled the situation is. Kathleen, thank you very much. Michelle, thanks to you as well. Just outlined, ty, clearly a lot of problems. Ran insanta may have a solution that will have you kicking yourself. A relatively easy way to make all these opec problems go away. Possibly become less of an issue for the United States. It cant effectively go away with the stroke of a fen if we get a little will in washington. Thats a tall order. Well fill you in in two minutes. So i can reach ally bank 24 7 but there are no branches . 24 7 im sorry im just really reluctant to try new things. Really . Whats wrong with trying new things . You feel that in your muscles . Yeah. I do. Drink water. Its a long story. Well, not having branches lets us give you great rates and service. Id like that. Experience a new way to bank where no branches great rates. Ally bank. Your money needs an ally. With all the opinions about stocks out there, how do you know which ones to follow . The equity summary score consolidates the ratings of up to 10 independent Research Providers into a single score thats weighted based on how accurate theyve been in the past. Im Howard Spielberg of Fidelity Investments. The equity summary score is one more innovative reason serious investors are choosing fidelity. Call or click to open your fidelity account today. Once well show you the video of this how many bakley dangling over a cliff there in ft. Worth. They tried to pull the home back, the cliff sort of collapsed, they tried to pull it back. What were they left to do . Well, burn it to the ground. The homeowner apparently responsibility for the cleanup. Just sad. Its a beautiful home. A lovely home with a lovely view, but when you when you build precariously sometimes it doesnt work out. Listen. You californians. I know, we build on almost everybody. Mary thompson, always on solid ground, has a market flash. We cant which check out shares of valiant. They want a call next week to deal with allegations now, earlier Pershing Square asked the court to called for a meeting to remove host of allergans board wouldnt trading down just 0. 6 of a . Im going to send it back to ron or sue, who probably knows the correction pronunciation. I think youre right either way. Ron insanta writing a piece, to combat all the instable in the oil markets that stems from the opecs company. Ron penned the note, if combined, the resource could easily change the dynamics, and in the geopolitical sphere as well. Ron joins us now on the set. Its a novel and great idea. You just wonder whether or not this particular situation in iraq might just be the trigger that makes those discussions begin. Goldman sachs held a north american summit this week, so you have a White Shoe Firm running the summit, but you dont have the white house leading one. That disturbed me to the extent this goes back 40 years weve not had a contingent policy since the embargo 40 years ago, so it does mant sense. I dont understand why president obama doesnt invite steven harper, and president nieto up here to figure out how to pool our resources to make us moreself sufficient, if not independent, and create a bulwark against those countries, russia, ukraine, all these places where were having difficulty. You brought up russia. Two months ago we were all focused on the situation in russia. Now iraq has superseded that certainly. So we have two geopolitical instability points around the world. And venezuela. If you want to add that into it. How much of that, though, if indeed those summits did occur, is dependent on washington xwra embracing it. It should make sense. Were not exactly in a bipartisan atmosphere in the United States. You dont think . I dont think, and thats not a partisan statement to make. Im just saying thats the reality. Thats the way it is now. An Energy Summit can be done at the executive level. Whether or not it becomes a treaty like nafta is an entirely different situation, but they should be contemplating ways, given that canada has surplus oil, mexico has fracking opportunities, even if ours are not limited but, you know, to a certain extent constrained. This is the type of thing to me that makes sense and again has geopolitical consequences, as well as economic consequences. Thats what i see hoar. Its a National Security argument, because the more we are prone to being whipsawed by events and have to spend National Treasure to go over and stabilize a region of the world from frankly people dont like us very much, thats a problem long term and has been a problem historically units its more than past the time in which the United States, in addition to exploring alternatives, but theyll never make up the different between the output we see. We havent touched the north atlantic there. Theres so many ways that the u. S. , canada and mexico could Work Together to advance technology, increase output, explore other that it will make sense to create an Organization Called nopec that would allow us to say no to other oil producers. Its an interesting article, and you can read it on cnbc. Com. Jane wells reporting now that a huge chunk of shale we were counting on for energy wont work. Shes live in l. A. Hi, tyler, there is a California Oil boom, but the outlook was not as bright as some anticipated, this from an energy analyst, the monterey shale may hold roughly half the convince at oil that saudi arabia has, maybe, but hardly any of it is recoverable. The u. S. Energy Information Administration has, quote, cleaned the data, and its disappointing, after initially suggesting that more than 15 barrels could be recovered from the shale, using existing technology, they now believe the number of recoverable aisle barrels could be 0. 6 billion, instead of four or five times the potential offal bakken, not so much. It says the thermally mature area of the shale is the 0 smaller than previously thought, in an area of tectonic plates with significant fractures, allowing leak, and its not overpressured and lacks the gas drive. And the agency said exploring forred that i faces significant economic challenges. Thats not even counting the regulatory challenges for fracking in california. Sue . What do you think, ron . This story was leaked a couple weeks ago earp there were some Energy Experts talking about how Technology May ultimate five years ago we were talking about peak oil theory, and then the shale revolution started with fracking and horizontal drilling becoming more and more usable, so there are questions to whether or not there is another technological fix here, but again underscores the need for the u. S. And north america broadly speaking to Work Together and explore the resources we have. Whats interesting about the monterey shale here, chevron from the getgo wasnt putting some faith in it, very little compared to others. Chevron didnt think there was a lot there, and apparently at this point chevron is correct. Jane, thank you. Oldschool cnbc around the table and in california. Another ignition switch recall. Phil lebeau has the details. What now . This one impacts a highprofile vehicle. Were talking about the c