Points off of earlier lows still not anywhere near where we started the day and we want to talk about the s p 500. The index is down for a fourth recession, losing five points. Lets look at what is the. Ticker symbol cf soaring after the Fertilizer Company says it expected to give significant additional cash to shareholders in the form of dividends, with the agriculture theme, and beer is a widely held stock in your portfolio, approved an increase and stock buyback program, huge amounts. Investors seemed to like the move. We flip attitude deer shares and thjumping more than 2, that is a 3 been, not just agriculture related stocks, a few Big Technology names. Nicole petallides on the floor of the Stock Exchange. Nicole technology bucking the trend at the last point today. When the dow is down over 100 you son teams like intel and microsoft with the arrows. Hewlettpackard is up 3. 5 , twitter at 43. 40, up 5 and facebook up 3. 4 so you see this group in particular seems to be bucking the trend we have been seeing, financial very temperamental, crossing the unchanged line, the dow went over the unchanged line 30 times, something that is will we have been seeing with financials, social media and technology really seem to be leading the way for us today. Facebook of 3. 4 . Liz we were up 46 points for the Dow Jones Industrials and you can see the tough go, the market swimming in positive Economic Data this morning, the markets have drowned in it. First we got better than expected home sales and the ndp jobs report, both better than expected. In the last hour the newly released beige book gave us a rundown of the current state of the economy and whether it is heading but is it heading into or or our temperatures more comfortable these days . Joining us from washington d. C. Peter barnes looking through the beige book and more. Peter the economy continued to expand at a modest to moderate pace from early october through mid november despite a Government Shutdown during this period, and the report does not appear to tee up to and during in the fed on purchases the known quantity of easing for the next fed meeting which is in two weeks because this report has the same language on the economy and job creation as the last edition book that cash in a pot for the meeting in october and back in october the fed did not keeper so maybe that is what the markets are reacting to. The report says hiring showed a modest increase or was unchanged in early october to mid november with philadelphia, richmond, minneapolis, dallas, those districts showing increases comedy of the seven districts largely unchanged on the jobs front but the report said contact in many districts voiced concern about the future Cost Increases attributable to the Affordable Care act, to obama thecare and other federal regulations so that is a worry for some employers and on consumer spending, the report said, quote, increased in almost all districts at a modest to moderate pace going into the Holiday Shopping season. Liz markets and dictated the data. We have come out of the laws but no way in here where we began the day. Tomorrow could change all. We got the gdp number, lets bring in traders from the Stock Exchange, looking at ten year yield, it touched 2. 85, that got people wondering what is going on because stocks were not a great place to look at. That had to do with the strong numbers you were talking about where you have seen rates hiccup and people take money off of the table, one number interesting agree with you the way as been a buckle your seat belt and whiplashed day between unchanged and higher or lower but the iso number was the only weak number, it was not that week. 0 little weaker than expected and we rallied off of it so again i have been talking about a Glass Half Full and this is the first day of trading that i have seen positive news translated to negative profits and that is liz people looking at the equity land and today was a day where good news and bad news yet to margot doesnt stop. We at the huge flow of news. What are traders expecting . Good news from dean street, bad news from wall street. The news has been good. Good auto sales, so everyone is waiting for friday. Gdp, friday is a big day, the jobs number, we will get that. We are watching that like the previous guest mentioned, ten year, is that 282 right now all so it is picking up. Remember when we got three last summer, that was enough to stop any kicking. Liz you have been dying to talk, 91 a barrel suddenly proved it is gone. A week or two and now more like 97, the opec meeting, we know what that is as well as what is happening psychologically in the market. Tell us what is happening with the market . It is tough. We got around 91, you had an opec meeting coming up cyclically if you look at the last couple years rally in the summer and tend off of the end of each of the last two years, we got around 91 and if you look at this trip from june, we got 9160, already 2 higher than that, people accumulating those and for good reason. Why take the risk Going Forward. 90 is a groundfloor when everyone is looking on an end. I am not looking for 100 before the end of the year, we are near the high end of the range we will be in Going Forward and Going Forward into the First Quarter of next year we might pushover 100 and if you base it on a last two years it has been 90 to 110 a barrel so everyone who needs a barrel is starting to accumulate them in the latter part of next year and that is what we have. Liz what is the catalyst this market needs . It has been tweet it weeks of beans for the dow and the s p. We may lose that, we may not. It would be healthy if it did. A great market lately but what did traders and investors need to see to keep the rally going into 2014 . Jobs numbers, more than anything else and that will obviously be the focus for tomorrow but a positive job market is going counterintuitive, a positive job market actually we will seek the bring come sooner rather them later and that is what the market is up here on, lower rates and need the sugar. Liz here is the fact. The Rockefeller Christmas tree will be lit tonight. A few weeks left. I bring it back to the business angle. Great to see you, thanks for joining us on the floor show. On lovelies, closing bell ringing in 50 minutes. One of the brightest and best minds on wall street and one of the most sought after advisers to ceo as and board rooms, talking citigroup, the banking giants Institutional Clients Group vice chair. He rarely gives interviews but he is joining us next in a fox business exclusive to talk about the economy, markets, the fed, anti bring and the way to win in 2014 for companies, ford and you. New York Stock Exchange ceo Duncan Neiderauer could be along for a supersize golden parachute. Charlie gasparino will give us exclusive details in just a moment. Stay tuned. Every day were working to be an Even Better Company and to keep our commitments. And weve made a big commitment to america. Bp supports nearly 250,000 jobs here. 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Tdd 183452550 all with no trade minimum. And only 8. 95 a trade. Tdd 18003452550 open an account anrn 300 commissionfree online trades. Call 18886287118 to learn more. So you can take charge of your tradg. Liz as peter barnes mentioned the Federal Reserve says the economy is flashing signs of modest to moderate growth. The equity market this year has pushed sharply higher with the s p and the Dow Jones Industrials posting doubledigit returns but lets back up a little bit. Rewind the tape even further. Look at this chart going back some 15 years. After reaching a peak and 90s and mid 2,000s the stock plummeted each time to new lows. History could be repeating itself with the current bull market rally. Are we going to see another we hope not crash but a drop following the cycle of all time highs . We brought in the financial industry veteran who lived and breathed the Business World for years. Joining us for the flower is citigroups institutional client groups vice chair. That underscore is an interesting trend. It looks completely similar to what we saw 15 years ago. Do we have to go back to those lows of 20092001 again . For those of us that went through it it was a horrendous experience. When you are in the middle of a crisis it comes on fiers like this is the big one, we are never going to get out of it. Liz big year that is almost done. Rockefeller Christmas Tree just outside the window, we know a few weeks left, what are you advising ceos and chairman of the board to do to make sure their position in 2014 . First and foremost given the way Interest Rates are they kicked up a little bit but they have long memories, incredibly low, a big part of the advice which goes to the ceo insuring they got a robust balance and this year we will see a record 1 trillion worth of investment dead being put in the market. Financing at a peak, not necessarily at a peak but significant levels. Ensure liquidity, that Balance Sheet is appropriately stretched out, take on longterm debt, and last but not least significant period of Share Repurchases. It is an important tell me i am wrong but i look at that as Financial Engineering that tends to juice the stock short term but speak to the investor. Should they be glittery i. T. Every time a company they own institute the huge shareholder buyback . We dont provide Investment Advice but from my vantage point, Share Repurchase is simply let cool and i was advised many years ago by a mentor of mine that people should look at the debt side of the Balance Sheet and equity side is flexible so in fact some of the great ceos look at their equity and when they think it is cheap selling at discounted value they buy it back. History has proven some people are wrong doing and Share Repurchases were done at the peak of the market place. That is one aspect. The other aspect comes which Share Repurchases investing capital when you dont have opportunities inside your business. An interesting indicator to what opportunities people have been returning cash. Liz or mergers and acquisitions. There is another area to look at and that is shareholder activism. This year we have close to 100 campaigns up from 63 last year. At the end of the day we dont work with shareholder activists, interesting check and balance marketplace, sometimes they are right, sometimes wrong. What they have then is to certain extent helped some Institutional Investors keep their eyes on the ball. From a management standpoint the question is management teams get forced to make shortterm decisions. We have seen too many examples of that. Liz he advises clients, big institutional clients, he is with us the whole hour coming up. I will ask you exactly the best moves companies and investors should do to prepare for that moment when janet yellen if she does decide to keeper, leon is with us the whole hour. Closing bell ringing in 42 minutes, another golden parachute for a Top Executive at the Stock Exchange, the ceo could be in line for a huge payout, what does that mean for the Intercontinental Exchange . They took over the euro next, Charlie Gasparino coming down with exclusive details. How about waking up to the smell of fresh coffee and the taco . Like taco bell . Mexican fastfood for breakfast, yum brands chairman and ceo in a fox business exclusive fresh out of his investor Day Conference today in new york city, he is only with us talking about that and the big challenges with kfc and china and much more. [ male announcer ] heres a question for you. If every u. S. Home replaced one light bulb with a compactluorescent bulb, the energy saved could light how many homes . 1 million . 2 million . 3 million . The answer is. 3 million homes. By 2030, investments in energefficiency could help americans save 300 billion each year. Take the energy quiz. Energy lis here. We were talking about a golden parachute for chief operating officer and Larry Leibovitz and John Stewarts brother. 17 million, Duncan Neiderauer stands to get. I thought people got paid coming in. If you do something good like they did, like sell the Stock Exchange but the Intercontinental Exchange. Why is that good . I dont know about the future of the Stock Exchange but you did increase shareholder value. Jeffrey will run the case, i can never say his name right, a lot of people think he would get rid of the floor, no doubt through this deal shareholder value increase and the guys that put it together a cashing out. Larry leibowitz will leave with a golden parachutes, six, the rest of it is going to be stock, a lot of that has accumulated that is what he will leave with. The ceo will leave with a lot more. It will be close to 30, Something Like 13. 6 million in cash and 5. 2 million in stock, pretty interesting. A lot of that stock has accumulated, some wasnt. Hard to figure out where the stock portion is part of the golden parachute so we let out and let you guys figure it out and this is where he is leaving something close to 30 million cted to leave next year. That is what he said. We dont know, there has been no filing and commenting on how he collected the money, they refuse to confirm or deny. Duncan could have collected this money. Maybe top of the markets, the fed will taper, stocks suffer from that. Liz std that sets the same pattern appearing from 15 years ago. A pretty shameful fall. Liz we will show you this. We saw an unbelievable run up. The bursting of the nasdaq. Lot of people think the stock market, the interesting thing with the nasdaq closed by two things. The fed was raising rates somewhat. We didnt have historic tapering in all that. We had the implosion of all the prices of the nasdaq related tech stocks because they were overvalued and turned out to be worthless and the anaststs who promoted those turned out to be completely wrong and people they promoted them through, not any reporters at this network turned out to be wrong as well. That is the combination but there was an Interest Rate play, the fed find here and you would think duncan would cash out of the Stock Exchange, pretty much in line. Liz duncan has done a great job except for the dunes he has on the floor who hate fox business. Here is what i have been told. Duncan neiderauer was the number 2 when john boehner took over the Stock Exchange, then they did the ipo, and duncan became the ceo and shepherded the exchange, when he saw the writing on the wall, the core business of the Stock Exchange was not a growth business, listing as well as the equity business being the middleman for the trade, tried to sell to Deutsche Boerse and found a way. They are saying, people at the Stock Exchange about them being due in about fox business and not giving any access to twitter. Liz they carried it through. S. A. Were blaming it on the marching orders they got from jack dorsey and all the twitter doofuses. That is what they said. Liz 33 minutes before the closing bell rings we will be back with Citigroup Institutional Client Group vice chair to talk about the biggest concerns facing wall street, in regulatory scrutiny including prospects of a tougher version of the volcker rule, proprietary trading. That and we will talk about the fed and capering. Leon is coming right back. Hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Nothing, thats what . Thats why i take prilosec otc each morning for my frequent heartburn. cause it gives me a big fat zero heartburn. Woo hoo [ male announcer ] prilosec otc. The number o doctor recommended frequent heartburn medicine for 8 straight years. [ larry ] you cant beat zero heartburn. And best of all, it means i can enjoy all the foods i love. Oh, zero heartburn is awesome. Just like zero clery. [ male announcer ] prilosec otc. One pill each morning. 24 hours. Zero heartburn. Well, did you know that just one sheet of bounce outdoor fresh gives you more freshness than two sheets of the leading National Store brand . Who knew . So, how do you get your bounce . With more freshness in a single sheet. Liz while you are in a commercial break and us as well, for a second the nasdaq turned positive. Here we are down 34. Watch the nasdaq. Maybe the one that holds at least a point to the upside here. It is a tough start to the Holiday Season for retailers. All sliding into the red. A quick check on that, nicole. Nicole we are seeing these under pressure. Right now you are seeing the retailers sliding dramatically. Right now down 8 . Largest share. Till has the despite the fact sales were up 10 , yes, set up 10 , however allison insiders that is already priced into the stock is still 9 price target down 4 down this year we should note for jcpenney. Macys, calls, down almost 20 this month. They got down 4 in the month of november and down over 2 for this month. Express on the big lord, they came out pretty much in line talking about the Holiday Season. If they thought it was going to be promotional and it will be even more promotional than they thought. That obviously talks about how it is going to hit their margins as a result they cut their numbers and that is why you saw express down so dramatically. Back to you. Liz almost like what they said, the fight will be so vicious. We are back with the vicechairman of Institutional Clients Group. A rare interview. I wanted to pick your brain about how low you think Interest Rates will stay because money has been extraordinarily cheap. You would buy the ceos and corporate boards. Would you say rush to acquire two mergers and acquisitions . How cheap money has been, it will not last forever. I never advise people to rush. The key is to take your time. Number two, my personal view is rates will stay down. There is no intending push making somebody go ahead and make a move. Number three, Interest Rates below does not mean somebody should go out and buy something. At the end of the day they have to be comfortable with the target, valuation and all the other Strategic Issues with putting a transaction together. In terms of advice, we look at this from my standpoint as being relatively cheap environment. I do know from a historical standpoint they may not be the absolute cheapest, but it is still an attractive rate environment. I see this as a good time to think about strategic moves. Liz one more question about the stock market. I whip out to see the bubble pop . I have no idea. If you look at a lot of the transactions that have occurred, they have beenghtful, valuatione careful. We are in an environment look at the Interest Rate level and look at earnings, the market appears to in effect caught up with the earnings of the company. I cant really sit there and say there is a bubble or not, but my own view is it is still on pace. There is a huge desire for people to go ahead and be invested the cubbie companies ae buying back the stock, and that is an innovation of the value. Liz the tapering issue, is there a taper Survival Guide . At some point it has to end. We talk about there being a shot clock that has to run out. Begin to scale back. The Balance Sheet is large given all the repurchases that have occurred. There is no Survival Guide. People at the end of the day have to look at this and say the race are cheap. Over the longer term insofar as tapering is reduced right here. Putting potential pressure on the rates so reason to do things, this is not a bad time to consider. Nothing is a micedo. It is all consideration. Liz is certainly a fax matter what business. Inking in particular. Obviously the volcker rule is about to be voted on by some of these, the five organizations the court preparatory boards, et cetera. Look at how it affects big Financial Institutions and you bring and of course the global standard of regulations. It seems like banks will have a tougher time making money, do you agree . Let me start off by saying the regulatory issues are above my pay grade. These things are pretty complicated. The regulatory issues are above my pay grade, i think all of the banks have been wellpositioned, dispelling what theyre doing right now and i think if you look at the various banking institutions, to understand the regulatory environment, and they are all operating and very close coordination one would presume. I concentrate on our clients. Liz back when they were running it, you did not pass the stress test. Flying colors, straight as with a lot of realms recently, seems to be a very high quality leader, you guys are huge. Millions of client accounts, you land in moscow and citibank branch. It must be great to be part of a company succeeding in shareholder value and growing in what could be a bizarre environment for all kinds of things. I am privileged to have known him for a long time. He is great inside the firm, and he is a beloved figure inside of the firm. We are a great global brand. We are well known, and in fact Many Companies and countries we have been in for 100 years. Something to be proud of and people feel good about it. Liz youre going to be with us the rest of the hour. Vice chair came back in the day. If you remember that name. The closing bell ringing in 19 minutes. Kfc joining a game of drones. Take a look at this picture, youve got to love that. Yum brands beefing up the marketing even after some worry in china which is their biggest market. Live and exclusively next. Going to have brakes, a look at this video. Third times a charm. Space x falcon nine rocket, first major medications satellite with two Missions Already completed. On their way to orbit. Tdd 18888522134 there e Trading Opportunities tdd 18888522134 just waiting to be found. Tdd 18888522134 at schwab, were here to help tdd 18888522134 ing what inspires you tdd 18888522134 out there. In here. Tdd 18888522134 out there, tdd 188822134 there are stocks on the move. 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Taco bell, the company things the world has quite the appetite for more that fast food. 1800 store openings. Fresh off of that investor meeting right here in a fox business exclusive along with citigroup. Thank you for being here. I think the go backward, 14 years . Quite a ways be at liz you eat what you make. Tell us about the investor conference, what was the number one thing on investors minds today . We had a great day today. We talked about the ground floor of Global Growth as you mentioned, 850 restaurants next to overlap a great year this year. What investors are thinking about is the china performance. We had a tough year in china last year, a humbling year for us but we took 2013 as a year to take stock of where we are in china and look forward to a strong year at kfc in china next year. We are very confident with the right kind of innovation we can get kfc moving forward because we have had Great Results with pizza hut casual dining. It is probably the success story. We have a business we added 500 restaurants in the last three years, increase our average volumes 30 , 1000 stores now, now introducing breakfast, late night programs and a sensational year this year. As we increased our assets. Liz i know why they are concerned about china. The numbers are nowhere near what they used to. Worries about some of your chinese chicken supplier possibly overusing antibiotics. How do you get that business back and where does that issue stand right now . Kfc china is the number one brand today in china, without a question. Consumer brand. So the brand is very strong. We have 4500 kfc. 700 restaurants in china this year, so we continue to grow. We have a very powerful franchise. There are 600,000 kids who go to kfc for their birthday every year. We have made our supply chain much stronger, it was already industryleading, now it is even stronger. We have a greet program, we think we will have a bounce back year. As we have discussed in the past, some of the greatest Global Brands out there. Recognized everywhere. China is a story well known, you have been in there for long time. What are the other markets you see interested Growth Markets to duplicate the things you have done in the key emerging market . We made china a separate division. We have huge new unit opportunities. India is another one of those markets over 1 billion people by separate division in china because we think those two markets china, india are major opportunities. Liz taco bell, pizza hut, chicken . We believe we have opportunities for all three. Kfc is the most successful. We are going after the delivery carryout market which dominoes has a lead on us. And taco bell developing a new footprint for taco bell and we think the indian customer is very well suited for that. Our overwhelming strength is the power we have emerging market. China, india, africa, a huge opportunity for us. We have huge competitive advantages almost every competitive emerging market. Liz 20 full year 2014 the upside. That to me looks bold. How are you going to do that . A strong bounce back year in china and keep the rest of our business moving like it has in the past. Taco bell in the United States is an overwhelming success story. A lot of news and innovation and values so it is a business, you have to slug it out every day in this business. It is retail, you have to win today and tomorrow. The bottom line is we think we will win many more days then we will lose. As you have gone into these marketplaces. Given i come from zimbabwe, hope you have a big impact in the continent. How are you adapting to the cultural areas . The greatest strength of our company is we are decentralized and we provide Central Support but decentralization is key to our success. The first thing we focus on is getting local teams to understand the market. I have never seen them have that much success in other countries, so we want locals tailoring our menu to the customer base. So, it varies. In india we Just Launched an all new line of products because vegetarian products are important. Liz that leads me to chipotle which is a competitor in a way to taco bell. Here you are going big on the tredoritos taco shell. Will you try to work a little more closely, try and get a little bit of that business heavy on healthy . We have balanced options. We have the fresco line, eight items, very balanced at taco bell. We introduced a cantina line of products, chipotle like but half the price. We have balanced options at kfc and the u. S. Grilled chicken to go along with fried chicken. Something we are very focused on. Liz yes, it is a zimbabwe accent. There is a little bit there. Great to have you, really appreciate it. We will be watching in china. We want to thank david. Please come back. Great insight, thank you both. Now looking for a job at new york state officials said he will be released on parole early next year. Maybe not so disgraced anymore. He did serve more than eight years of his sentence for looting from his company and paid back more than what he was expected to. When i interviewed him in an upstate new york prison he insisted he should not be behind bars after spending so many years behind bars for the former tyco ceo was the poster child for corporate greed after being convicted in 2005. Using tyco funds to bankroll a lavish lifestyle including 2 million toga party for his exwife on the italian island. Those were the gogo days. Page 6000 for single shower curtain. But his tentative release is now set for january 17. If he does not find employment he has to go back to the big house and is working on work release. We will ask about that tomorrow in a fox business exclusive to talk about his next stage of his life. We are watching the markets. The nasdaq turned positive yet again. 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Does breathing with copd weigh you down . Dont wait to ask your doctor about spiriva. Became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. Liz okay, we have to give the nasdaq credit here, positive i give or take three points after struggling in the red like the rest of the major indices. Here are the leaders. Nuance communications. Some components are in iphone. Yahoo look pretty good. Facebook jumping 4 . Citrix systems moving up 3 . Maybe the russell can turn positive. David asman standing by for after the bell. David i am always positive even when the market is down. Lets go to Nicole Petallides at the new York Stock Exchange. Talk about what was driving the market down for the most part until it drove the opposite direction. Treasury Interest Rates off the highest level since midseptember. Nicole no doubt. We have had the back and forth action. Something we have been watching so closely. Pushing the market to the downside. Liz it has been volatile the past couple of weeks, since september when it hit its alltime high. Rallying 17 yesterday, i am not surprised to see a little bit of profit taking here. Nicole the findings abroad was no problem with manufacturing. Still looking into tesla closely for that. David lets talk about sears. Sears getting hit bigtime. This is how i understand there is a hedge fund that was worried about all of these investors getting out of the hedge fund so he paid them with stock in the company. Is that why the stock is down 12 . Nicole and reducing the stock overall bu priscilla largest shareholder of sears and that is not a great move, is it . David that is not the right stocks, were talking about sears, down about 8 . There it is, still down about 8 . Still behind sears, right . Nicole chairman and ceo. Loving sears overall. Down from 55. 4 . Liz dont say we didnt warn you about this, the company is on a terrace or into a fivepoint year high. Analysts upgraded it but we have had the ceo here every single quarter practically talking about their plans to expand. David nasdaq did it, lets see if they stay positive. The closing bell on the exchanges. They are close to staying in the positives. Hanging on. The negative figures have improved quite a bit from where they were. Such positive news that sometimes positive news on the economic front is bad news in the market because w theyre worried about the fed tightening. Today positive news was viewed as a positive indication for the market and generally that is good news but so far only the nasdaq was able to squeeze out any kind of gain. Liz lets get to that and the details of it, the fed saying the economy is growing calling a modest to moderate pace