French and belgian authorities look for one of the terrorists behind that attack. A fighter jet plummeting to the ground. That happened this morning, and initially weighed heavily on the markets. The dow is up about eight points, nasdaq down about 15 points. The s p 500 basically flat, it is off 1. 1 points. One of the reasons why the dow is holding in positive territory is the impact from oil companies. Youve got wti currently up by 3 . Gold on the back of the weaker dollar is also moving higher. If we can bring up the board convince again, currently 2. 234 . We begin with the big meeting you saw just a moment ago. President Obama Holding a News Conference at the white house with the french president hollande. John harwood is live at the white house. What was the takeaways . Reporter reporter a couple key takeaways. One, they agreed there would be an increase and expansion of the scope of air strikes and intensificati intensification. Hour. President hollande said, like the United States would not be committing any large number of troops on the ground. Thats a key divides line for the president. The second thing the president said was the most important priority at the moment is deescalating the situation with russia in the way of the shoot down of that russian fighter over turkish airspace. President obama said we need to step back, it underscores the complexity of the request for nofly zones and safe zones for the refugees in syria, but there was not any imminent expression of unity of purpose with the russians. Of course, thats been difficult all along, because the russians are trying to deserve he has to go for the future of syria. This points to an ongoing problem with the russian operations, in the sense that they are operating very close to a turkish border, and they are going after moderate opposition that are supported by not only turkey, but a wide range of countries. And if russia is directing its energies towards daesh and isil, some of those conflicts or potentials for mistakes or escalation are less likely to occur. Reporter of course, what president obama was saying was that the key issue facing the United States in its diplomacy with russia is to try to get russia to move from targeting the moderate forces of opposition to targeting isis, which he has not done so far. Thats critical if their all right. It looks like we have just lost an interruption of the signal from the white house there with john harwood. So lets bring in our International CorrespondentMichelle Carusocabrera for her thoughts, having watched that press conference. It concluded on the following note, michelle, from president obama that russia is a coalition of two, meaning that they are paired with iran with respect to fighting rebels in syria, and the United States has a coalition of many partners, including many others in the arab world and beyond. Your reaction to that and whatever else you saw that was particularly notable. That basically answered a question we were keg before this started. Would there be any kind of change of policy to try to get russia on board . Clearly at this point, the position from the white house and hollande is Bashar Al Assad has to do. The other highlights is this plane gets shot down today by turkey. Would it lead to some kind of escalation . And both president s used the world deescalate repeatedly. They bent over backwards to say they did not want this to grow into a bigger issue. I think that was calmling. You could see it in the markets and internationally as well. This comes even though when president obama was directly asked, do you have evidence that turkeys airspace was invaded . He would not back his ally erdog erdogan. We should point out to viewers that nearly at the same exact moment, nato commanders in brussels were telling reporters that indeed russia did invade turkeys airspace, so both president s trying hard to deescalate the situation, but back to your original question, knolls backing away from their assistance that assad has to go and russia has to get on board with their position at this point. It will be interesting to see what happens later this week, michelle, when president hollande goes over and meets with mr. Putin. Clearly weve gotten some foreshadowing of what hiss going to say. He told us hes going to tell putin we want to more toward some political pros within siree that leads for transition, that hes part of the problem, that he caused the problems in syria, so its not possible to work with him. I think that will be one of the key messages. Well have to see if we see some similar News Conference out of moss cows cow on thursday. We have a news alert in the bond market right now. Fiveyear notes are up for auction. You might remember yesterdays twoyear got a b grade from rick santelli. Whats the demand for this one . I was in a good mood today. We gave it a bminus. Clearly this dutch auction was the ultimate yield tailed a bit. So it tailed a bit. Butter a bit to cover. 2. 52, which comes to 2. 7 basically 2. 5, 56. 7 on the indirects was very close to a ten auction average. The directs like yesterday, very solid. 10. 1, that was the best direct percentage since october of 2014. Dealers take a little over 33 , so 1. 67, bminus, all thats left beside putting the turkey in the on the floor is tomorrows sevenyear. 29 million. Back to the international developments. The russian war plane was shot down by turkish jets along it is syria turkey border. There you see the approximate area where that plane went down. Here is the plane. It just went back behind that ridge line. Youll begin to see lots of smoke coming up. There it is in flight as it is hit and dives, as you will see there. Russian leader Vladimir Putin calls the downing a tab in the attack carried out by the accomplices of terrorists. Turkeys Prime Minister says his country had the right to respond when its airspace was violated despite repeated warnings, it says, putin warning that the incident will have serious repercussions, and remember, folks, turkey is a member of nato. Turkish government Officials Say the russian pilot and his navy ga navigator are still believed to be alive. Turkey also says that rebels operating near the syria turkey border took both men into customer by. It shallish Authorities Say they are working now to secure their release, but again not really clear whether either or both of those individuals survived the downing of that plane. Mand, . It is a volume tile trading session today. You have the dow holding in positive territory, the s p has also moved into positive territory margin inly the nasdaq still stuck below the lines. Those are these playing out with traders . Lets go down to the floor of the stokes, kenny polcari, its interesting the way the markets on the whole managed to gloss over the tragic events of paris and the ensuing fear. What do you feel is the mood right now in a shortened trading week . Its a bit cautious. Certainly the trend here has been a bit weaker over the last couple days, but thats kind of in contrast to what this week has always been. This week year over year has been a very positive week, and its very interesting today after weve seen this play out today on the screen that the market has now once again moved into positive territory. It feels like it wants to inch higher, but it is being very, very kar, but how much of that is due to the price of oil, which is up about 3 . I think most of it is due to oil. Every other sector is down other than the energy sector, and that makes perfect send. That being said, look at the broader s p. The broad are s p is also now moved into positive territory. So that says something about the underlying strength. You can contribute some of that to make todays make rho data, which didnt really surprise anyone. The jeer opolitical issue, there is a kneejerk reaction, but on the whole, i think most people will think, no matter the rhetoric, that this will play out and work itself out. Yeah, certainly one of the other sectors that is well supported is areas of aerospace and defense. Thank you very much, kenny polcari. Minutes ago natos chief called for calm and deescalation and says, quote, the allies stand in solid dared with turk, and another lockout in brussels, super nato is head quartered, as the manhunt continues, but Authorities Say things will mostly return to normal tomorrow, all this as the u. S. Issues a Global Travel alert. Lets go inside the lockdown now and talk with tara palmieri, a reporter from politico europe, and a former reporter in new york. You gave us a very clear description of what things were like in brussels. What has changed, if anything tonight . I think theres lockdown fatigue. We have all been sort of, you know, hiding from the perceived threat since saturday. Now people want to return to normal life. Scores have been closed, schools, subways, theyre slated to be reopened tomorrow, but on everyones mind whats the difference between monday and wednesday . They still havent caught salah abd abd abdelslam. At the end of the day, why are we safer today when theres still a terrorist on the run . Is there any news about the pursued of salah, who you described yet as a wanted man, wanted obviously by the western authorities for his involvement in the attacks in paris, but also seemingly a target of isis, because to your telling, he sort of got chicken and didnt carry through on the mission. Right. They actually found french authorities found a suicide vest near a location where his cell phone was seen. It was in a dumpster outside of paris, so theres sort of questions now if he still has the suicide vest on him, or if thats in fact his suicide vest. So he clearly gave up on his plot. But he is on the run. They still have not tracked him down. In a way, it makes the belgians seem very amateurish, because its been over a week, they still have not been able to identify where this man is, but they say hes still in brussels. Its an interesting situation to see play out, especially because were hearing that the belgians are regretting underinvesting in intelligence. Now theyre saying theyre going to invest 400 million into the budget, but it seems a little too late. Its an interesting situation. The city is so divided. Theres 19 different districts with 19 Different Police forces, and theres a rivalry between the frenchspeaking, and the dutchspeaking flems. Theres no communication, and people are just wondering, what is the difference between tomorrow and today . Are we any safer . Tara, thank you very much. Im sure well be checking back with you. Tara palmieri of politico europe. Nato is calling for calm after the russian jet was shot down, to julia chatterley also in brussels, what else is nato say . The secretarygeneral very clear as the press conference just broke up, saying they stand in solidarity with turkey. They have spoken to the turkish Prime Minister. They also spoken to the allies. They great this russian plane was in turkish airspace. At the same time he said, look, weve had concerns about russian activity and what theyve been doing near the turkish border. The focus for everyone here needs to be on the common enemy that is islamic state. So it does feel like another slap across the zawahiri for russia. They called for calm and a deescalation, but given how angry voip voip seemed todvladi seemed, clearly the question is what will this mean . Guys, back to you. Thank you very much. We will stay in touch. Mandy. As you can imagine, travel stocks are getting whacked in todays trade. With some holdsings are down by over 6 . A number of sectors facing a confluence. Dominic chu is taking a closer look. Hi there, dom. So mandy, the story behind the repercussions or reverberations of the markets are rarely simple, but well break down whats most effective by whats happening in paris all of that and mon on power lunch. Keep it right here. Other wireless carriers make families share data. Some way to say happy holidays. Switch to tmobile now and get 4 lines with up to 6gb each, and no sharing. Just 30 bucks a line at tmobile. Its gotten squarer. Over the years. Brighter. Bigger. Thinner. Even curvier. But whats next . For all binge watchers. Movie geeks. Sports freaks. X1 from xfinity will change the way you experience tv. Tiffany missing forecasts, and the is the food giant is beating on the bottom line, but revenue missing the market form hormel does expect earns to come in ahead of analyst estimates and dsw, the shoe retailer beating the estimates. Dsw blaming a challenging retail environment and unseasonably warm weather. The recent terror attacks in paris and state Department Travel warnings for americans has weighed on travel stocks, but there are a number of other big factors weighs on the sect orr these days. Dominic chu has taken a closer look. We know when there are perhaps travel repercussions to the negative, its going to play out in stocks. Just a representative stock, it travels around into other Airline Stocks as well. Of course, oil is a big part of this story as well. We know that oil is higher, that could be driving some of that weak necessary as wells. If you look as el where, like expedia, also moving again to the down side as well. Its not just there. Expedia, avis budget, more of these travel stocks overall, so of course these will all be in focus with whats happening, and of course whats happening with turkey as russia as well. Back over to you. The s p is trying to gain on to what Goldman Sachs sees a big of gain as the fed begins to hike rates. Is goldman right . Well debate that, coming up. Welcome back lets get a check on the bond market. Rick santelli is standing by at the cme. Hi, rick. Hi, tyler. Many were surprised the fiveyear didnt do gere. I wasnt surprised. Its currently trading 166. Keep in mind, for the last seven sessions we have closed between 166 and 169, 165 and 169. So this is an important range to keep in mind. One and twoday charts reveal auctions put us at the highees of the day, but it is a moderating features. Mandy, back to you. Thank you, ricky. That weaker dollar we saw a moment ago was helping gold somewhat. Jackie deangelis, tell us more. The dollar coming off its high, geopolitical tensions today supporting with those prices as well. Almost a 10 move, and the markets turned to positive territories. This is not the safe haven trade that it one used to be. Meantime, take a look at copper prices. Copper got dangerously low yesterday as well, a buy in the dip here, a waitandsee approach those how it all shakes out. Jackie, thanks very much. Its been a volatile few months, and the s p is struggling to hold on to gains for the year. There could be more of the same ahead. Goldman sachs sees pain and no gain a. The fed begins to raise Interest Rates. How should you position your portfolio . Plus the other Central Banks that may raise rates when the Federal Reserve begins liftoff. Well look and that and more as power lunch continues. Important than your health. Or the freedom to choose what doctor you want to see. 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Oh i got a job too, at zazzies. friends gasp the app where you put fruit hats on animals . I love that guys, ill be writing code that helps machines communicate. interrupting i just zazzied you. phone vibrates look at it friends giggle i can do dogs, hamsters, guinea pigs. You name it. Im going to transform the way the world works. proudly i programmed that hat. And i can do casaba melons. Ill be helping turbines power cities. I put a turbine on a cat. friends ooh and ahh i can make hospitals run more efficiently. This isnt a competition hello, everyone. Here is your cnbc news update. Following a meeting. President obama is vowing to step up the pressure on isis. They were relendlesses in face of evil. It will be no different this time. We will win and groups like isil will lose. An international warrant. French Authorities Say the mastermind of the attacks returned to the scene that same nice, and was planning another suicide attack. There you sue the footage earlier this afternoon from the russian jet. Military Officials Say a helicopter searching for a downed fighter jet was shot down by rebels inside syria. One serviceman was killed. Its a very busy news day. Back to you, mandy. Indeed it is. Thank you very much, sue herera. Dom has a market flash. Dollar tree hitting their session eyes. Sales beat estimates. They increased by 2 . That stock is now positive for the years. Stocks have recovered most of their losses today. Goal man sax ease chief strategist david coston does not see much upside from here. The yearend is 2100, we are currently sitting at 20 art hogan and sand linking. Gentlemen, thank you very much for joining us. Art, do you agree or disagree. I have to dug gray. I think the chief manage tails is hes tax the last time and copy it is that model. And then looks forward to 16 and how close are we to reaching the inflation target. So i think the glide path will be slower. Therefore i think the chief assumption hes making is wrong. I think Something Like 130 earns, if you put the same multiple we are trading at right now, you