you know what? put the cow back, put the cow back. the guy falling on the treadmill. no one cares about him. bring the cow back. there you go! i'm going to have this on the loop at my house all weekend, all night, at the club. take it away. >> i know, very cute. liz: thanks, melissa, more exciting and gorgeous han cute, a surprise move in the markets in relation to two days after the swissy, yeah, the swiss franc taking victims today, but the u.s. markets aren't among them right now. look at this. green across the board, home depot, exxon, travelers powering the dow higher and the high of the session up i believe 129 points for the dow, getting closer to that right now. up 107. new fields exploration, cima rex amazingly energy names

leading the s&p. consumer sentiment hitting highest level in 11 years. the reason this matters, the s&p 500 and consumer sentiment tend to track each other quite closely as the graph shows you. as we look at that and counterbalance it against the swiss currency move, the dollar held strong, the euro tanked, what did the swiss do to exact a bruising on the u.s. based foreign exchange broker fxcm. shares cratering in the premarket. have not opened for the day. halted. what does that mean? many of the clients took a bath as a result of the swiss surprise move to uncouple itself from the euro, causing the trading platform itself to desperately need cash. flat on the session, it hasn't opened for trade, when it does, u'lle the first to know. this is the last hour of trade. let's start the "countdown."

>> it has been a huge week for volatility, but markets seem to be taking a break today, at least to the downside. today's trading range is the narrowest we have seen so far this year, but still a significant swing, earlier today, the dow was down, 77 points. just under a 200-point swing here. what's it work. huge earnings and the ecb meeting next week. is this just the calm before the storm?trader new york stock in advance of the ecb meeting, we know might shock the markets. robert hassle you take it first on the new york stock exchange. where is the money now? >> right now what you're looking at, you have to look at ecb meeting next week, they have to cut rates with the effect going on with the swiss, with unpegging as a 1.2 to the

euro, and with regards to what to take a look at. oil, down over 50%. at this point, last five times it happened, small move to the upside for the next six months for the s&p 500. look at caterpillar right now. liz: we started to ask guests would you be scooping up energy names. today people say i should have. is there a longer tale? will this last? >> i don't -- i don't think so. i think you have to be careful. all the market's done is gone into a trading range, repriced between 45 to 51 to $52 in the crude. i think the market has to prove itself more, and you don't have to be the first person on the block to scoop anything up. in terms of commodity trader, this is sideways action developing, full a new trading range and markets have a

tendency to test a bottom to the ranges again. i am definitely not one to say scoop up anything just yet, and that ecb meeting, we saw a shock from the swiss national bank. a stupid move by them, and ill planned, not transparent. what if the ecb does nothing? they have driven the european currency to $1.15. liz: you back it up and say having tried to suppress your own currency is not a great move. it wasn't transparent. in fact, literally 24 to 28 hours before they unpeg currency, they said they weren't going to. so that's not good behavior. >> right. liz: peter, i need to look at nymex right now. to see there is next to no spread between what we trade here in the u.s., which is west texas intermediate and brent? there is nearly no spread at this point.

it's been trending that way. i just read a report, brent could be at $31 by the end of the quarter. we'll see a big drop in crude in the u.s.? >> i don't see anything changing with the supply or demand situation. the currency situation today definitely strengthened the market. look at wednesday, we went up to $51. option expiration, people covered options of being long in the money pit, and we fell long and had a 46 handle by the end of that day. when we get strength in the crude oil market, we can fall apart hard at any time. liz: started monday focusing on copper. focus on what you gentlemen think is going to be the big trade next week? >> talking about what we see from the ecb, if they do not cut rates, it's going to be -- the markets are heading lower quickly. liz: and by the way, i want to mention, we're going to be at that ground zero area when it comes to getting the best

comments from it, we'll be in davos, switzerland of all places, speaking to world leaders, world business leaders at the world economic forum, the day the ecb meeting happens, ira, what would be the number one question? >> if i were, there i would ask what they're trying to accomplish by it. that's the thing. liz: stimulation? maybe they want to stimulate a weak european economy? that seems obvious. >> do shock and awe. go over a billion euro. don't pussyfoot as i think they're going to do. at best you get 500 billion and i think you need the trillion number, get it all done, that's what you need and that's what they should do. liz: peter, ira can speak that way, he's been there, and he's allowed to talk like that. what would you be asking, we're going to have the prime minister of finland. that's certainly an interesting play with the russia concept and what's going on with oil and so much more. what do you want to know from the world leaders and world business leaders in davos?

>> as far as russia goes, they could have turned around and maybe turned off the spigots and made it a little interesting. they weren't willing to doing that. like i said in the past, that situation may not be as bad as people think. the ruble went down, and the ruble also determines their cost of production. liz: i think what you said earlier was true, not much has changed when it come to the actual amount of oil that's out there, and so we will -- lots of supply, price continues to come down. good to see all of you guys, thank you for joining us on the floor show. any time. balancing the right of free speech, privacy, and then pairing that with cybersnooping, that's the tightrope president obama and british prime minister david cameron must walk to counter violent extremism in the wake of a deadly terrorist attack in paris. washington senior correspondent peter barnes live from the

white house. peter, what specifically did they say about intelligence gathering? >> reporter: this was a big issue, liz, both in their discussions and in the press conference afterwards. stopping terrorism, stopping terrorist attacks through digital surveillance while protecting people's privacy somehow, a major issue for both of these leaders, after edward snowden's disclosures about the government's massive surveillance programs of digital data and information. tech companies like apple, facebook and google beefed up security to help protect the customer information, and in some cases that included new encryption software that scrambled the information permanently. that angered law enforcement agencies, and particularly fbi as well as spy agencies on both sides of the atlantic, and as they say it's made their job harder, and it's an important issue, as the president noted

because the terrorists use social media as primary way of communicating, and they do it well. >> we've been in dialogue with companies and have systematically worked through ways in which we can meet legitimate privacy concerns, but also meet the very real concerns that david identified and my fbi director jim comey identified. >> reporter: these discussions between the administration and tech companies continue, david cameron said the goal is to make sure there is no safe haven in cyberspace for terrorist communications, liz? liz: then the question that came up during the patriot act was what about the privacy, and what do we do regarding that? these questions continue, but we got to clamp down on the nefarious evil people. peter, thank you very much. peter barnes in washington, d.c. closing bell, we're about

50 minute away. we have a rally on our hands. google, this is a stock that recently hit a 52-week low. these things on your screen once the toast of geekdom. everybody is saying it's flying off the shelves. done, has the glass ceiling been shattered and what other high-tech gadgets could be on the verge of a tech meltdown. battling it with two gadget gurus who can see literally into the future. are you ready for playoff football? modell sporting goods is. which jerseys are red hot and which are flops? what does a super bowl win for merchandise sales of all of these out there. even teams that aren't playing? you just got a big bump in miles.

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. liz: from, my god, i have to have it revolutionary to back into the box back to the shelf. the era of google glass has ended for now.

look, when the product was unveiled in 2012, as with many google things, it triggered a haywire of media frenzy. a struggle to sell to the average joe led to quick demise. which high-tech items are next to tank, what is showing in the techy crystal balls for the future. joining me to battle it out is mash as mashable tech analyst christina warren and jess kimball. good to have you both. we're going to transition, awwww, did you have to dig into the doefk find it? >> i did, i didn't know where it was at first. liz: what does that tell you? >> it says this was destined not to be a consumer product not for now. liz: a consumer product, and everybody got excited about it, started thinking about how to buy them, they were expensive and then invitation only, and then you have the parade of people, including some people

here at fox business, just to show it certainly, that put them on, and there it is. >> and that was the problem, you put it on and -- >> it's beyond nerdy. >> it's kind of terrible, kind of terrible. when jon stewart did an entire segment on it, one of his reporters went on the street and interviewed people who had it, you know it was going down. >> it was brilliant. if you went to advertising agency, they would charge you a billion dollars. a giant free advertising campaign for enterprise product that will be incredibly valued to shareholders this year, i imagine. liz: let's look into the crystal ball, and christina desk mashable is littered. littered, they say test it, tell us what you think. start with the first thing you think will be the next tech flop. and a flop is a really mean word. let's say a little bit of a tank. >> little bit of a tank, 3-d

printers in the home. i don't think that's going to take off. it's got, kind of google glass, tremendous enterprise potential, awesome stuff, i don't see regular people having them because it takes so long to print anything. liz: we love it when they're printing out fox business tchotchkes, i wonder when the scaledup version would come. some 11-year-old kid wanted it for his birthday and he got it? >> which is great. science kid experiments or kids who like the nerdier stuff. liz: jess, where do you stand on 3-d printers? >> it'sa i household product. it's the thing when the part breaks on the dishwasher and you need to print it. >> it takes two hours to print! >> not always. >> it's like rio. did you have rio in 1997, terrible mp3 player.

in three years it's the ipod. >> you have to make sure it can scale up. what's another one that you think is going away. >> i don't think it's going away, the oculus rift, i don't know about that. i think for gaming there are tremendous advantages, for storytelling, it's pretty awesome. but i have to say i think that the idea that this is going to be something that regular people are having all around, i don't see that happening, not for the next five or six years. liz: if you thought google glass was a loser look. jess, you like oculus? >> i like it. i think that everyone owns one. it's every single prediction from 60s onward, people will speak to someone like -- liz: remember the movie brainstorm with christopher walken. >> yes. liz: and natalie wood, that was the 80s! they were imagining that. >> i always like to reference the moment in epcot center, when you used to take the big

ride, and at the top of it, you see people using tablets and talking to people from tablets. a lot of technology is just some of the obvious conclusions that science fiction or -- >> or too late to the game, which means amazon was too late to the game with -- >> the fire phone. liz: a tragedy. >> a tragedy? >> not a bad phone, not a good enough phone for what they were trying to sell it for. competing with an iphone, you better be as good or better, real. liz: i saw this a couple years at ces, 3-d television was never going to work out. >> didn't have the glasses. liz: who's going to do that? and again sitting in the house wearing glasses or handing them to friends would be awkward. concepts and websites and publicly traded companies, jess. you're the futurist, what goes away, what has reaction?

. >> nice little house cleaning will happen. i don't think that unfortunately twitter is all that long for this world. there is no business model there. all the businesses where it's ad sales based. google and, up, facebook are the exception there. liz: yahoo! is dead? >> a division of aol. >> i think it will be reversed there. i think aol will be a division of yahoo! yahoo! has money from alibaba and stuff. i don't know. >> i think any company creating a product that has no sincere value other than to sell ads, the state yahoo! has gotten in. they have purposely obfuscated content on the website. point of it is deceptive and mean, if a company is building a product intended to confuse the consumer. busby is doing great. where you draw the line what media stuff is my argument. >> i completely agree, i don't

like buzzfeed either. liz: you are tough! you guys are tough! we'll bring you back, we have to talk about the samsung curved phone and tech gadgets. christina versus jess, we'll bring you back, thanks so much. closing bell ringing in 39 minutes, a mostly dismal week for bank results in particular. big names, goldman wasn't golden. what does it mean for bonus pool? why does this matter? because wall street gets bonuses right now and run out and spend money on other companies whose stocks you might own. charlie gasparino has exclusive on this next. and gearing up for the big game. two massive playoff games this weekend in the nfl. the ceo of top sports retailer model makes a lot of his year right now. he's here with biggest sellers and state of the state of the american shopper. don't go anywhere, we're talking football and much more. at ally bank no branches equals great rates.

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. liz: starting next week on this show, anthony scaramucci, along with charlie gasparino and i will be in full-on davos mode. this weekend, the three of us will do something called davos dish. a daily scoop of what's going on at this gigantic event that's on a tiny swiss alp town, we head into my sixth year into the economic forum. here's a glimpse of highlights from past years. take a look. ♪

♪ ♪ ♪ so team davos, which includes maria bartiromo, anthony scaramucci and charlie gasparino along with moi, we are going to cover it like you can't imagine, ready, charlie? >> i don't know. liz: this is charlie's first year. >> let's get to my story. goldman sachs had earnings today. we're going to talk about how liz and i are going to survive davos in a second. serious stuff here. goldman sachs had lousy earnings, particularly the quality of the earnings, they

made it through not trading revenues, not investment banking, they did not have a great earnings, it is renewing from what we understand the call from analysts that goldman needs to diversify and go out, buy an asset manager or buy a brokerage firm. here's the interesting thing, three days ago you had dick bove saying he doesn't think goldman sachs needs to do that. today he said yes, they need expand. liz: what changed? >> the earnings, the quality of earnings were lousy. goldman can't proprietary trade anymore. that's the bread and but the jeer which you had said. >> they need a stable form of revenue. unless they think hillary clinton is going to come in, in a couple of years, which she might or a republican president is going to reverse vast parts of dodd-frank or water down dodd-frank that allows them to do what they did in the past. they need to get the stable earnings.

we know this, goldman is studying this. gary cohen the coo and the president of goldman sachs talked to people about brokerage and things of that nature. they're weighing this internally, expanding asset management, bove thinks they're going to buy small asset managers and build it out. liz: with all this, don't the bonuses tend to get thinner? >> it is, if you look at the numbers. this is a wake-up call for goldman and stuff we're saying at fox business a lot. goldman stock is down, you would be skeptical about goldman's quality of earnings. we should point out morgan stanley reports next week, on one of the most reliable indicators is james gorman's posture around the firm. if he walks around the firm like he has the biggest you know what in the world, this is true, people think i'm making this up, this is followed

inside morgan stanley and he's not quite straight up, he's a little bit. he doesn't have a total, you know, he's walking a little bit like flaccid, i guess you could say. so they think -- >> kind of how when you're upset your knuckles drag on the ground. >> he's walking around flaccid. it is going to be earnings next week. got that out of the way, goldman sachs out of the way. i'm sure james loves when i talk about his posture. and for people who hate herbalife. this is how liz and i, i want to get a picture of this. liz and i are going to survive on herbalife protein bars, we hate the food. liz: i'm not a fan of potatoes and meat and cheese and the

schnitzel. >> herbalife may be the biggest pyramid scheme but protein bars are great. liz: stock is up 1 and a third percent. the business model, the protein bars are excellent. liz: as you know davos is very east in switzerland, it's near closeter. >> the german side, not the french side. liz: it's more german food, you're talking snausages to begin with. >> i'm not crazy about germany to begin with are. you know my uncle fought in patton's army? liz: yes, you mentioned that. >> for the stupid conference, i'm going to miss the football games. i can't believe it. liz: they have television there, charlie. you're going to have the biggest world leaders there and

world business leaders. >> i want them to say something. liz: and you'll get them, too. everybody should tune, in we got to run, charlie, safe journey. friday rally, not a bad wait. we're at the highs of the session, we blasted through the ceiling we hit earlier, up 129. we were up 133. where should you put your money next? the u.s. is the only safe place? is that really where you should go? we have a strategist who sees lots of buying opportunities elsewhere. coming up. battle of the quarterback. we are not talking about the nfl playoffs but the race are if the hottest selling jersey. who's winning? plus how one sporting goods giant needs the help of american retail right now. don't go anywhere. thanks.

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. liz: we have a little breaking news on the market rally. stocks just hit session highs. the dow up 144. now up 146. a final half hour of a wild week for stocks. mostly to the downside, but big gains today, major averages on track for third straight losing week. right to nicole in the thick of it on the new york stock exchange with the biggest movers of the week. >> reporter: big movers indeed, and a mixed bag of economic news. jobless claims, sentiment was better. let's take a look at the movers. financials was a big topic on wall street, take a look at jpmorgan or goldman sachs or american express.

these three names, weak to date. they've been the laggards and many of the financials that reported reported legal fees, choppy markets, credit markets in particular. that's been the head wind. that's part of it. also take a look at the dow and looking at the dow in particular for the week. we've seen the dow, the nasdaq and the s&p all lower for the week, down 1.5% each, and the transports and the russell go into that as well. some of the dow leaders as we conclude, the laggards include the financials. when we talk about the s&p 500 down 1.5% this week, you have to remember the names that were movers there. and a name like tiffany which came out with numbers and said a strong u.s. dollar was problematic not only for the shoppers but the tourists to come right here to the states to shop, that hit numbers as well. and the winners, you had gold

stocks shining, gold is higher today by about $11 and gamestop a real winner this week. liz: nic, the dow up 159. the nasdaq having a killer day, too. it's up about 49 points at the moment. when it had been down 7. a 56-point swing for the nasdaq. it's on the screen below. we have a new and improved ticker. keep your eyes on that as well as what we're talking about. who among us isn't a football fan at least during this time of year? everywhere people are gearing up for the two massive nfl playoff games happening this sunday that will determine who gets center stage at this year's super bowl? green bay packers take on the seattle seahawks, then the indianapolis colts match up against the new england patriots, the stakes are high, and football fans stocking up on favorite team's merchandise to show support. one sporting goods retailer is

benefitting already no matter who wins. joining us mitch modell, modell's sporting goods ceo. what's it like and a guarantee no matter what's going on, you're going to make money selling the jersey? >> national players always sell well. when you have green bay in the hunt, dallas in the hunt until last week. tom brady hasn't won a super bowl in ten years. when you have the marquee quarterbacks, everybody roots for them. liz: there are many marquee quarterback, do they sell better than everybody else's jersey? >> they are the leaders, with the most pressure and the kids and adults look up to. liz: number one best selling jersey with the four teams? >> tom brady. >> i happen to have that one. tom brady. okay, new england patriots. >> what's incredible, when tom brady wears the pom-pom hat, it's crazy. liz: oh, i've got andrew luck!

oops! sorry tom! sorry gisele. yeah, this is a huge seller. >> unbelievable. liz: let me get to andrew luck, he emerged as a hot player. >> young quarterback, a lot of pressure on him, very tough to win in new england. it's going to be freezing there. i was there last saturday. fans are crazy, and should be a great game. liz: andrew luck, number 12. let's talk about the seahawks who won last year, they won the super bowl. we've got sherman's jersey right here. and these are going for how much? >> $100. liz: 100 bucks, not cheap. >> nike makes an incredible performance product, and it sells. liz: maybe going into football, the marketses are getting excited about the weekend. we're at new session highs, up 168 points for the dow jones industrials. and as we continue to look at a game like the green bay game. green bay, smath mouth football, goes back to the

early years of the nfl, and everybody is saying they're glad that green bay is in? >> when you look at fans and they're wearing cheese heads or think of lombardi days or think they played in the coldest game ever in the history of football. green bay is football. liz: rodgers, this is a big seller. >> number two seller. liz: two seller is aaron rodgers. talk about the sense of retail. we just got consumer confidence numbers. tell me what we're feeling with consumer sentiment? >> consumers feel good about themselves. you're not hearing a lot of layoffs that you heard in the last couple of years, not hearing negativism in the news. people are not concerned so much about jobs, price of oil being cheap gives them more disposable notice. it's pretty good. we've had a strong january and great december. liz: to the young ones, mitch, we had a few guests on the show predict that college football

championship will eventually -- you tell me, trump the super bowl? so unbelievably popular, the college games people feel more vested in? >> college is incredible, i don't think there's anything like professional sports. the ohio state win that happened past week. it was incredible, nike tied up every printer in the united states who was one of the biggest, biggest postseason seller of t-shirts ever in the history of the sport. liz: wow. >> incredible. liz: really incredible. and so are you, mitch. you have stores up and down the eastern seaboard, expanding all the time, even in dubai? >> yep, start aid relationship with retail corp. we have a licensing agreement with them. six stores and it's really been exciting. liz: i hope that johnny manziel. >> oh! >> stop. the browns are my team. >> it took you eight minutes to bring up johnny?

liz: took me that long. mitch modell of modell sporting goods. up 173 point. don't miss the nfc championship game live on fox sunday. the place to be. the green bay packers taking on the seattle seahawks at 3:00 p.m. eastern on fox. don't miss it. closing bell. a major rally on right this second, 15 minute away. the markets firing on all cylinders. coming up, our next guests say the party, far from over for investors, just because we had a couple of down days. when it comes to where you should put your money, they couldn't disagree more. big ideas from different areas, stay tuned to hear the stocks versus bonds debate next. when the markets close at the top of the hour, we're on call for you, go to foxbusiness.com/oncall.

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. liz: you are looking at the largest jump in stocks of the new year. the dow up nearly 200 points with just about 11 minutes before the closing bell. the major averages having second best day of the year. our next guest grease it's time to play ball for investors. in fact, we've reached the seventh inning stretch. still room to run here. couple more innings. joining me new steve sjuggerud, and eric stein, eaton vance co-director and portfolio manager. steve, looking at what we saw this week alone, four down days, not puny down days, significant ones, which side do you believe of this trade?

>> right, i think you shouldn't get so concerned with the day-to-day volatility. there's such a big story for the long run happening that you can't ignore, and that's the interest rates story, when you see long bonds at 1.8 and the dividend yield on stocks at 2, there's just incredible value in the stock. we've only seen this happen twice in the last 60 years. we saw it in 2009 at the bottom of the markets and 1958 before we entered the go go era of the 60s. we have an incredible story where there's no other game in town but equities. that's the opportunity. liz: we're talking about equities, u.s. equities, eric, you're looking in a different place. when steve says bonds and treasuries, the bond is lame here in treasuries in the united states. you're looking at a bond completely in a different part of the world. >> yeah, exactly. certainly u.s. treasuries don't offer value.

but given the volatility in markets in global macrostrategy, we like to look all around the world. one area is indian government bonds. liz: that looks like a 7.7% yield? what is that yield? that's unbelievable. >> getting close to 8% yield on indian government bonds. they just had first rate cut this week, finally starting to tame inflation in india, the head of the central bank has done a great job with oil falling. great time to be long in india government bonds. liz: what is the risk? . >> the indian ruppi soldoff. we think india has far better policies, one of the best places to invested right now. liz: steve, indian bonds, what's the left field play? what's your left field play? >> that's a brilliant idea. they're in a different part of the cycle.

liz, six weeks ago you asked me my left field play, china a-shares, they are up 40%. liz: that is incredible. >> today a slightly different twist on the theme is the chinese shares trade in shanghai. the ones i like now trade in hong kong. many of the identical companies but the shanghai shares rang up so much, i recommend buying the fxi, the i-shares china large cap etf. you are looking at a single digit pe, they are cheaper than china of 2009. >> listen to you guys, india and china just as christine lagarde says the u.s. is a bright spot but that's pretty much it. steve, let's talk specifically what you expect from the european central bank next week, they're going to be meeting as charlie gasparino

and i and anthony scaramucci will be on the show talking about the scoop from the world economic forum in davos. tell us what you expect and how the u.s. equity market will react? >> i think the big story really we're talking about the dollar and the euro, that's what's on everybody's minds right now. and to me, actually, today may be the very top in the u.s. dollar. my research piece comes out, february piece for my clients comes out monday, and in it, i'm saying it's time to sell the u.s. dollar and actually buy gold stocks, believe it or not. as the way to play, because we're seeing uptrend in gold. gold is strong, while the dollar has been strengthening. but now the dollar strayed completely full, and so i think we're going to see a sell-off in the dollar. i prefer gold over the euro. liz: eric, do you expect

removing the cap against the euro? >> we're seeing lots of volatility in currency markets. countries tightening monetary policy like the u.s. and swiss national bank and countries easing like the ecb, about to do a big qe next week and japan. euro has fallen a lot, maybe it's going to stop for a while. longer term, the u.s. economy is so much stronger than the european economy. the fed's looking at tightening, the ecb is easing, the euro is going to fall from here over the medium term. long dollars, short euros. liz: i'm excited to see it won't take $15 to buy a cup of coffee in davos this year. steve sjuggerud and eric stein who likes indian government bonds. wait until david asman hears they return 7.7%. >> whoa! >> great stuff, guys. closing bell five minute away, big rally, up 195 points for

the dow jones industrials. been a rough week. we can finally say we have a broad-based rally. not only, that the markets zooming to session highs during the last 15 minutes. the final moments of trade. anything can happen, just five minutes left. we'll be back, just a moment from now. how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. no question about that. but your erectile dysfunction - that could be a question of blood flow.

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from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that's right for your business. see if startup-ny can work for you. go to startup.ny.gov. liz: we have breaking news for one of the possible causes for this late session rally. >> it was a positive day. we really began to take off half hour ago, just about the time, "der spiegel" a german magazine, came out what it says compromise solution between the european central bank, whether they come out with a qe program and german central bank. as you might know, there is european central bank, but every individual country has its own central bank and germany didn't want to bail out companies that

might go down. according to "der spiegel," the national central bank and icb proposal will only be allowed to buy the sovereign debt of their own countries. qe means the central bank will buy individual bonds of countries but if the european banks are only going to buy their own country, the german bank would not be a in danger if other banks go bankrupt. that means each national central bank alone will carry risk of a possible default by the government. germany, which of course is europe's paymaster in many ways, will not have to bail out another country if it goes bankrupt if it defaults this is according to "der spiegel." we have not independently corroborated bit but it seems to correspond with a boom in the market. possible compromise between the european central bank next week and german central bank. liz: as we go to nicole petallides, in final seconds. we were up 103 points. as you see a major gain now.

>> energy stocks rallying. [closing bell ringing] liz: here come the bells. they clank on wall street. finally an up session to give a little bit of sugar rush for the bulls who have been down for the count. as the numbers settle looks like the dow jones industrials charged ahead in the last 17 minutes of the hour, up 186 points. s&p better by 26. a huge swing for the dow which had been the, nasdaq, rather, which had been below flat line earlier today. now sees a gain of 63 points, good for one 1/3%. of the russell 2000 gets biggest pop, up nearly 2%. david: big day for the markets. "after the bell" starts right now. david: let's break down all of today's market action. talk about the late-breaking news about a possible deal between the ecb and the