Transcripts For FBC Markets Now 20140129

Problem, also technical levels, the Dow Jones Industrials down 137 points, the lowest down 174 points. We are of of the lows of the day but seeing the down arrows and i will get to why dow is down. You can thank belling for that but there are concerns about earnings going for. Many Companies Reporting despite concerns about 2014, tepid outlook for these Companies Made everybody worry. We want to see what the open Market Committee said to policymakers and the vix to the upside. Lets get back to boeing. The worst performer on the Dow Jones Industrials 6 , it is accounting for 52 negative dow points. The dow, 1third of the dows loss is boeing. When you take a look at the s p 500 that may be a better theme of 1 2 . Boeing came out with a weak outlook for 2014. The move to hike Interest Rates and save lives, the nations currency scaring investors causing emerging markets to push european stocks lower. The real question is why is such a small economy having such a big global impact. We want to turn to global Macro Economic strategies for capital markets, joins us from miami. Good to have you here. The common denominator is an investor like myself tries to understand the foreigncurrency sand the trades that take place, easy money. The threat the Federal Reserve will clamp down on easy money has people looking at the potential to invest in turkey, not the place they want to be. It is easy, the common denominator as stated is fierce selling, panic selling, in discriminant selling emergingmarket and that is because investors, Retail Investors saying capital flowed like crazy in the easy money period and they are going back because the u. S. Said in expanding Monetary Policy unwinding so they expect to see a continued and perhaps increased outflow of equity positions, bond positions and foreignexchange positions from emerging markets but specifically from those emerging markets that are the weakest turkey has accused deficit, fiscal deficits, inflation problem, growth problem, political upheaval, so adam according to the institute of International Finance in 2010 and trillion dollars into emerging markets, ten years prior to that only 190 billion of that gives an idea what is flowing in. That is not all flowing out but the term is the fragile five, not just turkey but brazil, argentina, india. Is this comparable to the 1997 asian currency crisis that we saw . It is not. Apple to oranges, asset class is better positioned than it was in the past. Important for Retail Investors to discriminate the stronger name versus the weaker name. Look at the fragile thought that you mentioned, brazil versus turkey, brazil has two thirds of its deficit, it has won the two thirds is covered by investment. Turkey on the other hand has coverage in the tunes. Really there are important differences to be made and i will say panic creates eventual opportunities. Retail investors could look at the emerging market names, pick out the winners, the market friendly, more capitalist pro investment guys like mexico, colombia, south korea, in times of distress, indiscriminate selling. Adam as we see these fragile five places like south africa and turkey raising Interest Rates the lira fell in turkey to where it had been. The danger for those countries you explained to me earlier is a doubleedged sword. If they raise the Interest Rate they are essentials lead defeating their and Economic Growth. That is right. We discussed earlier when you jack up Interest Rates, 425 points it helps the attractiveness of currency to appreciate sword is likely stunned at least somewhat Economic Growth, that is the problem turkey and other countries such as brazil and south africa are facing at this point. This is not 1997. They have higher reserve rates, better overall debt levels, better composition of the debt and Exchange Rates are fixed which many of them have at that time so they are better able to withstand these affects into chaos. Adam thank you very much. Cheryl the turmoil is unlikely to deter the fed from trimming its bond buying. Ben bernanke wraps up his last meeting at the helm of the central bank, peter barnes from the Federal Reserve. Less than an hour to go before the decision. Peter the consensus seems to be the fed is on Cruise Control at the meeting today, economists expect a smooth policy handoff between departing fed chairman ben bernanke and his successor janet yellen to take over february 1st, at the end of this two day policy meeting this afternoon and hour from now the fed is expected to announce it will reduce its monthly quantitative easing bond purchases by another 10 billion taking them down to 65 billion a month. The fed said it would start to take credit last policy meeting in september so some analysts say the feds free ride with easy money is over so investors have to focus once again on market and company fundamentals. Dont expect that every part of the market is going to go up and that the fed will come to the rescue of the market. Maybe the fed does, it is the worst thing the fed could do to come to the rescue of the market. The fed is not a portfolio manager. Is supposed to be taking care of Monetary Policy. Peter the new deal is part of ending quantities in the fed promised to keep shortterm Interest Rate and the fed funds rate at neared zero for longer and that means lower Interest Rates on auto loans, Business Loans and credit cards for longer. Lori thank you, be sure to tune in friday at one p. M. Because peter is sitting down exclusively with San Francisco fed president john williams. One day before the fed president janet yellen takes the range from ben bernanke. Adam we are looking at commodities the head of the fed, amid the broader stock selloff, investors taking safety and gold, that precious metal is jumping 1 point two Straight Days of declines and looking at the Energy Commodities oil prices aging lower, supplies rose more than expected last week but the big movers are natural gas and heating oil, freezing temperatures driving up demand. Lori another investigation in the debris to against target, eric holder confirmed the Justice Department is looking into the target hack. Eric holder making the announcement during testimony before the Senate Judiciary committee and lawmakers want details. Democrats and house energy and Commerce Committee asking for information from the retailer ceo at of the hearing next week. Adam on. Shares plunging making it one of the worst performers on the s p 500. For quarter profit beat estimates, revenue slumped from last year. The news is raising new concerns about ceo Marissa Meyers turnaround plans for the company after more than a year she has been unable to make progress against rivals google or facebook. Ali baba which has been a bright spot is seeing its growth slow. Self parked cars in traffic for hours abandoned on the side of the road. The latest on the chaotic scene out of atlanta next. Lori struggling with 16 unemployment. Millennial iss reaction to president obamas state of the Union Address. Adam after blowing off pressure from fox business, the analyst has left the firm. Charlie gasparino has the exclusive scoop elvis has left the building. En does your work en does it end after youve expanded your business . After your companys gone public . And the capitals been invested . Or wn your compans bought another . Is it over after you given back . You never stop achieving. Thats why, at barclays, our ambition is to always reaze yours. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Crestor got more highrisk patient bad cholesterol to a goal of under 100. Way to go, crestor yh tting to goal is a big deal, espially if you have high cholesterol plus any of these risk factors. Because you could be at increased risk for plaque buildup in your arteries over time. So, when diet a exercise arent engh to lower cholterol, adding crestor can help. Go, crestor oh, yeah [ female announcer ] crestor is not right for everyone, like peoplwith Liver Disease women who are nursing, pregnt, or may become pregnant. Tell your doctor about other medicines yourtang. Call your doctor rht away if you have muscle pain or weakness, fl unusually tired, have loss of appetite, uer belly pain, dark ure, or yellowing of skin eyes. These could be sig of rare but seris side effects. Crestor yes [ female announcer ] ask your doctor about crestor. If you cant afford your medication, astrazeneca y be able toelp. Lori in the mid level weather emergency, snow and ice paralyzed state transportation services. Debt ands may read assured city folks that the problem is being addressed. Take a listen. Standing in front of you taking every question you have so that people at home know that their government is actively trying to solve a very bad problem. Lori now we are pleased to be joined by steve holman on how is being played out in the city. Steve is the playbyplay for the Atlanta Hawks basketball team. The Radio Network that covers the games that we are learning that tonights basketball game is being postponed because of the weather. Great to have you. Doesnt happen very often that they have to postpone a game. Lori the imposing team could not get the flight into atlanta. It was partly that. They couldnt get in last night but a lot of it is the nba and the hawks concerned about seasonticket members. And how many people get their tonight. And not sure our players who live in different places all over atlanta can get to the game either. Lori we are looking at pictures of a traffic jam and kids in school and folks in target stores and grocery stores, two inches of snow and ice, and commute to work and school what is the problem . What went wrong over night . A lot was the preparation part of it. That happened to schools i canceled, and Metro Atlanta area, and in the city of atlanta debt, they were not expecting the snow the way it came and the ice and they had school, and almost 5 Million People on the streets all at once. Adam curious, you have ties to the business community, the nations largest busiest airport, delta, al flack, ubs in the atlanta area. I. T. Able to operate today, thousands of those employees are stuck at home . Most the skeleton crews, home depot based here. And to sleep or eat there and take shelter. So many cars have been abandoned over the last 24, 48 hours. Lori thanks for sharing your own experience, good luck and be safe. It is crazy. Thanks. Adam people in atlanta at not only deal with these things but theres a great deal of business in atlanta. Taking the biggest hit Georgia National guard helping people, w a g a atlanta reporter buck cranford is covering the chaos. Any chance when you will get out of this . Good question. The temperatures now, the high today is expected to be 33 degrees so really just one degree above freezing. We have some sunshine today which is helping some of this stuff to melt but really the temperatures drop again once again overnight and a lot will refreeze so despite the fact that the National Guard is out there now they are getting the kids that were stranded at School Getting these kids home, bringing food and water and gas to people in some of these cars that have run out of gas because they were sitting in gridlock for so long but despite all that i am sure the story will continue to be told tomorrow as everything freezes once again. Adam we have seen the pictures of incredible traffic jams, georgia 400 is the normal state of affairs but all kidding aside when ms. Refreeze is our drivers, 5 Million People in the Atlanta Metro area are they prepared . Bridges freeze, you get ice and cant drive on ice and you get this all over again. Only somewhat prepared. The city of atlanta is somewhat prepared. It doesnt happen that often. Our last big snowstorm was in 2011. We are not equipped in a city with the right amount of trucks and stand and salt trucks that you need and the fact the this one happened in the middle of the day when everyone was at school and at work and everyone tried to depart at the same time that cause gridlock which meant trucks we do have couldnt get on the road to spread the salt and sand and improve conditions at least on the bridges. The good news is if they can get some of these cars out of here maybe tonight they will have the opportunity to get the salt and sand trucks to try to do their job to improve things. The good news, atlanta is freezing today and will be freezing tomorrow, mid 60s by the weekend. Ten debt to saturday everything will be fined. Adam we will call you hot atlanta saturday. Lori back to the markets, big story because were back into selloff mode, a risk of profiles back in action. Nicole petallides on the floor of the Stock Exchange covering the action. A few winners out there. Nicole a lot of red and new lows, worried what will happen with the fed and the emerging markets. The winner is dow chemical hands down. 4. 5 to the upside up 1. 93, dow chemical came out with a great quarter. Also unveiled a 15 dividend hike. Everybody loves fat. How about the stock repurchase plan moving up to 4. 5 billion. That made a nice recipe for dow chemical and continue to follow the story that spins off the cat petrochemical business so that could be over 3 billion according to analysts. A story that isnt over yet. Lori thanks, see you soon. We want to remind you in 40 minutes we will hear from the Federal Reserve. The latest decision, expectation of another taper which the market is banking on. Fox business will bring the decision live. Adam giving people what they really want. We are live in times square as broadway turns into super bowl boulevard ahead of sundays big game. I ys say be thman with the plan but with less ergy, moodiness, i had to do something. I saw mdoctor. A blood test showed it was low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use inomen or anyone younger than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms to your doctor. Tell your doctorbout a medical condions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. 22 minutes past the hour, this is your fox news minute. Defense secretary check Cable Holding a meeting with top nuclear official after dozens more officers were implicated in an investigation on cheating on Missile Launch proficiency tests. The number has nearly doubled from the original 34 officers. German chancellor Angela Merkel has said countries that spy on their allies risk undermining trusts leading to less security. The u. S. National security agencys surveillance activities have rattled germany since they were revealed by former nsa analyst ed snowden last year. Oracle also says she will renegotiate with washington over a nose by agreement. A miraculous story from here at home, a 16yearold girl surviving after falling more than 3,000 feet to the ground i family of mackenzie weatherington setter primary parrot didnt open and miraculously doctors say she has multiple injuries but is in good condition, just incredible. Those are your latest News Headlines on the Fox Business Network. Back to lori and adam. Adam an incredible story. The nfls annual super bowl fantast kicks off today as superbowl boulevard opens in times square, fans can meet players, play games, even ride and h lane, 60 foot tall toboggan. Rick leventhal is live from super bowl boulevard to explain why new yorkers will break a Cardinal Rule and go to times square. The New York Post put it best, the great white way has seen this much action since joe namath was quarterback of the new york jets the times square has been transformed into super bowl boulevard all right away from 47th street to 34th street, to take part in including goalpost, you can see behind me where you can kick extra points and as you mentioned, a really cool toboggan ride, eight lane, 60 feet tall, 180 feet long, and you need to go online to buy your tickets but it goes to charity and is a pretty cool ride. We tried it out last hour. Take a look. An outdoor football festival on the most famous city in the most famous block in the world and taking a fan festival in an area that is free for fans to walk through and shutdown times square, i dont think shutting down one block is easy more or less 13 blocks. That was an nfl person talking about the challenges of shutting down times square. We have video of the toboggan run. If we do, lets see it. Lori there we go. I think we just caught the tail end love it. Reliving your childhood. I would like to point out i won that heat. This is an olympic trial i would be moving on to the next round. Lou you in the jamaican cape. Im ready to compete. Adam appreciate you being with us on a bitter cold day, lot of fun in times square. Coming up tomorrow our allstar super bowl lineup takes us through the 1 00 p. M. Hour. We kick it off with joe ellis in a cant miss interview plus nfl all star Tony Gonzalez stops by to talk life after football. These are the stars of the game, cletus the fox sports robot will be here on fox business. Pretty cool. Lori it is freezing but i cant complain looking at what is going on in atlanta. I always find something to confess about. Fashion haters. Facebook. Adam set to report Fourth Quarter results after the bell. 18 to 24yearolds are so addicted to their phones and they checked and every nine minutes and 50 seconds. Lori that is serious addiction. Speaking of millennials, what did they think of president obamas state of the Union Address and the state of opportunity in this economy . Adam look at winners and losers on the dow, the dow down 136 points. We asked people question, how much money do you think youll need when you retire . Then we gave each person a ribbon to show how many years that amount might last. I was trying to, like, pull it a little further. [ woman ] got me to 70 years old. Im going have to rethink this thing. Its hard to imagin how much well need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. Open to innovation. Open to ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at startupny. Com. Cozy or cool . Meow or woof . Everything the way you want it. Until boom, its bedtime and your mattress a battleground of thwarted desire. Enter the sleep number bed. Designed to let couples sleep together in individualized comfort. Hes a softy his sleep number setting is 35. Youre the rock, at. And as your needs chge er time you can adjust your bed to slp better tother. 48month financing available through february 2 only at your local sleep mber store. Find your sleep numbersettd know better sleep. Lori were in the midst of another deep selloff today. We thought we were out of the woods yesterday but resuming the riskaverse ways if you will. Lets head back to the floor of the new york Stock Exchange with Nicole Petallides who is looking specifically at facebook which is trading lower ahead of earnings. Is this a broader problem market problem or facebook specific, do you think. What i think, well see for sure after the bell when they come out with real deal numbers on revenue, on advertising, on instagram. These are things that everybody is going to be looking closely at pertaining to facebook. Right now it is down 1. 8 . Over the last 52 weeks weve seen it is a stellar performer up 80 . Annual high on the stock is 59 and change. Well look to see how many mobile active users in the latest quarter. Also looking at instagram, who was involved. Michael kors is already getting in on that. Four p. M. , stay with fox business. Well bring you facebook numbers. Well have qualcomm numbers after the bell here. It is earnings season. I know we have a lot going on from the fed to emerging markets and markets are to the downside but earnings are very important. Back to you. Lori always are, nicole. Thank you. Adam we heard a lot of talk from president obama about job creation last night empowering the middle class, a push for higher wages, better savings for retirement and equal pay for men and women. Critics say the president s ideas were lofty and without much detail. Finances are a major focus. Foxbusiness. Com reporter kate rogers joins us with more. Kate, when the president is talking about myra. This would be seed investment to get keep people to stop saving for retirement with a federal government guaranty. What is he talking about . This myra, is pun on words, is supposed to be starter account for those that dont have 401 k program through the employer. Your contributions could be very low as little as 25. Once you hit the 15,000dollar cap you have to roll it into traditional roth eye raw account. Adam did they give specifics how it will be guaranteed. Backed by the government just likes bonds. Basically once you hit the cap, it will grow at variable Interest Rate and once you hit the cap you roll it over. No details how it is backed. He is response supposed to announce it. Adam the president made a promise you wouldnt lose any money, correct. Correct. Adam seems if the government is going to back it, you will something with inflation. Also promised they wouldnt lose your doctor with another piece of legislation. But anyway, are the critics jumping on this yet or too few specifics to understand what theyre really proposing . Definitely scant on details. The president said it will ebb issued Via Executive order to the treasury department. Once it is officially launched. We got some details today once it is out there for people to start signing up. Adam myra. Need to come up with a new name. Throwing a lot of people. Even the president stumbled trying to say it last night. Adam lori. Lori i had trouble in the meeting. Guilty. Thanks, guys. The president may have hit a lot of hot topics last night but my next guest says so far few of the administrations policies are giving young adults opportunities. We have the author of book 2012 for 20 somethings. Millennial, perfect advocate for young adults. Welcome to you. Thank you for having me. Lori there are specifics for socalled millenials. Lay it out for me. We can start with obamacare. Lori subsidizing the entire legislation. Yes, i was doing some Research Last night on nerd walls analysis and if a young adult enrolls in Obamacare Exchanges his outofpocket Health Care Costs is going to be around 1700. If you forego that and pay penalty, our outofpocket Health Care Costs is 340. Which do you think they will choose . Lori right. The bottom line with obamacare, they need you, young, healthy americans, 2. 7 million of you, right, to sign up for this. So how do you feel about that and your colleagues and your pierce . You must be resentful and reading because youve written extensively on criticism of the legislation. My pierce are not having it. Im not having it. Were bay paying for our parents insurance while still living in the basement that sun fair. Lori young adult unemployment more than doubles the national average. You guys are strapped with Student Loan Debt has a lot of economies say this could be another bubble about to burst. The president as we said in the introduction to you outlined all kinds of hot topics and plans for new opportunity and growth and innovation in the state of the union last night. Are you optimistic about any of it . Im not optimistic at all. Theyre the same old Campaign Promises recycled. I went back and looked what he promised in 2008. In 2008 he made 508 total Campaign Promises. That is double what bush and clinton made. It is empty promises. He hasnt acted on any of them. Young adults are not hopeful. We voted for him because he would go to washington and change and have transparency. We havent got any of those. Lori you send me all the latest and greatest Opinion Pieces and writings and stuff like that. It is tough out there. What advice do you have for younger people trying to make the way in this world . It is tough. Youth misery index is highest ever been but when im talking to my peers out there and we dont have confidence. Advice, you have to keep going out there to do your best, even if it is part time. That is all you will find right now. Lori young people came out in droves for president obama in both elections. Do you think that will shift . Do you think more millenials such as yourself will lean right and vote gop in the next president ial election. That is a good question. I dont know if they will make a complete switch. Like way saying earlier my generation was shaped by republican failures. That is why we turn out heavily for democrats in the election. Now were being shaped by democratic failure. Whether that will shift in 14 or 16. I dont think they will show up which will hurt democrats as much. Lori you were brought up in the dotcom universe, 99, 2000. You have the financial crisis of 2008. That really influenced and shifted focus on how you manage money. I let you pick it up there how for a last comment. We dont want to buy all in cash. We dont want to see what happens to our parents happened to us. Losing job and financial crisis, losing a house. Well not be investing or buying right now. Lori thanks so much. Good luck to you. Thank you. Lori look forward to following your story. Adam the analyst behind bill ackmans one billion come dollar short bet on herbalife missing in action. Charlie gasparino is getting answers. His exclusive scoop next. Lori the treasury yield, ahead of the fomc statement, the treasury yield at lowest level in months, 2. 71 . Back in a moment. Welcome back. How is everything . 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And because usaacommitment to serve current and former military members andheir families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. Im dennis kneale, your fox business brief. The fcc says scottrade will pay 2. 5 million fine. The discount brokers admits filing blue sheet data trading on 200 trades fiveyear period. Scottrade blames a coding error. New york post report that is jcpenney quietly jacking up prices from clothing to Small Appliances to make room for deeper discounts on the same stuff later this year. The retailer is trying to get back customers who want to see 50 and 60 discounts. No comments from jcpenney. Spains finance Ministry Says the countrys black market is 25 total gdp. Under the tax under the table transactions is 34 billion in 2012. Spain starts with a two year recession and 25 Unemployment Rate. That is the latest from fox business, giving you the power to prosper. Adam after blowing off pressure from fox business, Pershing Square finally concedes a key a. Charlie gas with more on the story he broke and more exclusive details. We should point out the herbalife short announce ad year ago by bill ackman, head of Pershing Square came from research that bill ackman developed and he had a righthand man, Shane Dinneen, harvardeducated analyst. That is bill ackman. See if we have a picture of mr. Dinneen. This guy is rumored to be on the outs at Pershing Square ever since the stock started to move up. As you know they had a short position. Initially went down. Shares of herbalife on announcement after short. When other activist investors got involved on the long side, namely carl icahn and a few others the stock moved rapidly up. Then there was rumors that Shane Dinneen was out. We should point out for four days we heard he was officially out the door. Herbalife, excuse me, Shane Dinneens, Pershing Square would neither confirm or deny or return our calls. The most troubling aspect of this is that rubenstein and company, run by howard rubenstein, one of the great pr people of all time, someone i know very well, when i reached out, when we reached out to his people they stonewalled us. One basically hung up on julie, my producer. But late last might, after lots of calls and lots of social media and doing stuff on fox business they finally conceded that mr. Dinneen is out. They didnt really give much detail. They said, you know, it was a personal decision on his part. Basically said he could come back at anytime. They did not blame him for the disasterous call. Adam why would leave now . This is still in play. Well the only thing i can think of is, there are several reasons. He may leave now because he wants to, you know, travel the world, you know. He may have a, might be a personal issue why he left. Adam could it be asked to leave . You know thats interesting. Noo if you notice the stock has been going down recently with all the talk about probes in china and canada and all the places. It is down a little bit today. There also could be a money reason why he left. Herbalife got, his position, short position got crushed since they announced it. Adam right. He is at the bottom. He is one of the lead analysts here. And you know, i dont know who, chicken, i dont know what came first the chicken or the egg. Was it Shane Dinneen told bill ackman about this or bill ackman told Shane Dinneen to look at it but there is lots of talk whether he, whether he was asked to leave because he has, fascinating thing, if you talk to people in private equity and hedge fund, i dont know how this guy is going to make his money. Adam that is what i was going to ask you. What does it do to reputation of a young analyst. He might have been right but he is up against carl icahn. He might be right in 20 years or five years or three years when the position is now. Adam right. And thats a tough thing to swallow. We should also point out that as you mow, bill ackman has said he has covered a lost his short. He translated into essentially an options play as opposed to a short, pure short position where you borrow shares and sell it and you have to, you know adam deliver. You deliver at some point. Later where you cover it. He translated that out because the stock moved, you know, violently against him, moved up. Even though it has been going, trending down a little bit lately. This is fascinating. It is interesting this came literally the same day we reported this out he was likely on the way out. The same day that the d. A. Analyst tim roehmmy went to bill stiritzs private equity firm. Ramey was a bull on the stock. Stiritz is going out saying he would like to buy the company. Both of these things came together. For a company that sells protein shakes lots of stuff happens with herbalife. Adam on that well say thank you, to this young analyst there is life after harvard. Perhaps you should have gone to yale. Youre talking your book. Adam im syracuse. Im missouri. Just so you know. Lori just about 15 minutes here. We are counting down to the fed decision at 2 00 p. M. Eastern. Markets are way off ahead of that. Adam first perspective from the trading floors ahead of the announcement and chairman Ben Bernankes news conference. . Yes sir. Alright. Lets share the news tomorrow. Today we failrly busy. Tomorrow were booked solid. We close on the house tomorrow. I want one of these opened up. Because tomorow go live. Its a day full of promise. And often, that day arrives by train. Big day today . Even bigger one tomorrow. When csx trains move forward, so does the rest of the economy. Csx. How tomorrow moves. [ tires screech ] chewleys finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. Get the most extensive charting wherever you are with the mobile trader app from td ameritrade. Adam just minutes away from the fomc decision. Fox business will bring you the announcement as it takes place. First we want to get a look where markets stand. Major averages still deep in the red, still reeling from nervousness over emerging markets. Oil prices pulling back. That is off the lows of tte session. Meantime investors are looking to the safety of gold with prices up more than 1 today. Lori lets go to the trading floor. Keith bliss joins us from the new york Stock Exchange and phil flynn in the pits of the cme. We could be entering, keith bliss, pullback mode for markets if you believe pullback definition is five or 10 off recent highs. Were 43 points shy of that levels according to fox business statistician, Charlie Brady to be exact. What is your take on why were so down ahead of the fed decision . I dont think it has a lot to do with the fed decision right now. As adam was pointing out in the leadin everybody is nervous about emerging markets. Emerging market problems could lead into what the fed says today to the standpoint if merge merge economies go south with money pull out of their economies and how will that play how u. S. Companies and economies get impacted from that point forward. That is really only way i see the play coming out right there. I think the market, sorry, i think the markets are terribly overdone even though we keep going down. We found them 1800 s p. Were due for a bounce in the year and hopefully a sustainable one if we get back up the 1100 level. Adam lets bring phil into the discussion. I would think some flight into gold with people worried about turkey and south after cam the currencies there have not recovered even though we had the Central Banks raising Interest Rates. A lot has to do with easy money tightening. Fomc is expected to announce more tapering which means more problems for turkey and south africa with their currencies, right, phil. Absolutely. Fed mantra, tapering isnt tightening. Tell that to people in the emerging markets. It is killing them. Were starting to see what turkey did yesterday lift the mask off with the problem with all the fed policy. We outgrew it over here. Our stock market loved it but it really masked problems in the emerging markets. Were not just talking turkey, were talking china, were talking brazil. You could go on and on. That is what is happening here. With the goldmarkket what should have been a hohum, we know the fed is going to taper decision, were seeing riskon. Were seeing gold rally. Were seeing. Silver rally. Industrial metals perform less well. There is concern this would be a issue that goes on. The other thing is the physical market. Lori phil. Yes, lori. Lori i appreciate you letting me interrupt you. Do you think ben bernanke and company will consider all the noise and volatility in the decision today . Perhaps if they were planning additional taper it wont happen after all because of this violent reaction in trading days including today some would argue . Some traders down here say that they will. I really dont think them. They have thrown too many curves when it comes to the tapering thing. They have sold the market on tapering. They dont want to kang that at this point. I dont think the Market Action overseas is bad enough yet. But if it continues to get worse, looks like contagion, you better watch out next fed meeting. Adam keith and phil. We appreciate you both bringing us insight as we await the fomc decision. Moments away from the latest fed decision. We want to hear from you. Fill in the blank on our twitter question. Janet yellens fed will be blank. Fill it in. Lori so full coverage of the fed, markets, reactions, and your tweets all brought to you next by tracy byrnes and ashley webster. [ male announcer ] heres a question for you when electricity is generated with natural gas instead of todays most used source, how much are co2 emissions reduced . Up to 30 . 45 . 60 . The answer is. Up to 60 less. And ats a big reason why the u. S. Is a world leader in reducing co2 emissions. Take the energy quiz. Energy lives here. Energy lives here. My dad has aor afib. Brillation, he has the most common kind. Its not caused by a heart valve problem. Dad, it says your afib puts you at 5 times greater risk of a stroke. Thats why i take warfarin every day. But it looks like maybe we should ask your doctor about pradaxa. In a clinical trial, pradaxa® Dabigatran Etexilate mesylate . Was proven superior to warfarin at reducing the risk of stroke. And unlike warfarin, with no regular blood tests or dietary restrictions. Hey thanks for calling my doctor. Sure. Pradaxa is not for people with artificial heart valves. Donstop taking pradaxa without talking to your doctor. Stopping increases your risk of stroke. Ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. Pradaxa can cause serious, sometimes fatal, bleeding. Dont take pradaxa if you have abnormal bleeding or have had a heart valve replaced. Seek immediate medical care r unexpected signs of bleeding, like unusual bruising. Adaxa may increase your bleeding risk if youre 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners. Or if you have kidney problems, especially if you take certain medicines. Tell your doctors about all medicines you take. Pradaxa side effects include indigestion, stomach pain, upset, or burning. If you or someone you love has afib not caused by a heart valve problem. Ask your doctor about reducing the risk of stroke with pradaxa. voseeker of the sublime. Ro. You can separate runway diculousness. From fashionhat flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national isanked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your yle. vo so do we, busess pro. So do we. Go national. Go like pro. Tracy good afternoon, im tracy byrnes. Ashley im ashley webster. It is Ben Bernankes last meeting as fed chairman. Stocks are already down bigtime. Were moments away from the fomcs latest decision and pronouncements. We want to hear from you. Fill in the bank on our twitter question. Remember the old blanketyblank game. Janet yellens fed will be what, blank. Tracy make them clean. Full coverage of the fed starts now. Peter barnes standing by at the fed with first word in seconds of course. We have an allstar panel here. Scott brown, Raymond James chief economist in st. Petersburg, florida. Bob pavlick, chief Market Strategist and our very own Lizzie Macdonald and Charles Payne here on set, fox business headquarters in new york. Very cold. Bob, we start with you first. I know you believe they will announce further reductions in easing, yes . Yes. I think everybody is pretty much under the same belief. Tracy same number, 10 billion . 10 billion, fiie and five. The economy is picking up here in the United States. If you read the most recent beige book from january 5th tenet, the fed believes the economy is improving gradually. I agree with the fed. What is going on in the emerging markets is something to be aware of and they may make reference to that in the Statement Today but i dont believe that will dissuade them from removing quantitative easing. Ashley charles i want to ask you quickly about emerging markets. Is this something if it continues to evolve that could ultimately hurt the Global Economy and could have impact here in the United States . It could but if you look at more recent currency crisis they were resolved with foreign intervention, imftype things. I dont know the fed will necessarily say we have to be concerned about that but i do disagree a little bit that everyone thinks that the fed will stay the course and go down another 10 billion. Everyone says it. I dont, the way i watch the market it doesnt seem like everyone is sanguine what the fed will do in a few minutes. Im hearing comments out by many analysts and strategists but donald kohn, they believe that they are growing to do it. I hear you. Tracy im going to throw it out to scott out in florida. I would like to say sunny florida but i know its cold. Scott, what do what do you thins going to happen today . I think we get another 10 billion in the taper. I think that is the path the fed is on. It is really uptodate at that and financial conditions to argue they have to deviate that path in the months ahead. Ashley lizzie, one what are chances the fed will taper its taper . Yeah. I dont think there is ashley no reason to. No. You know, listen, weve been running at the same job growth for the last, get this, three years, since 2011, about 153,000 a month. I think that is what the fed is looking at. The action will be in the Forward Guidance on rates, right . What will the fed do there . And, you know, ill tell you something that is where the credibility comes in as the Federal Reserve. That jobs rate is moving target. Not a trigger, just if it goes to 6. 5 or six even, that the fed reviews its rate policy Going Forward. Ashley we are seconds away now from finding out. As lizzie pointed out well be very interested in this Forward Guidance to see what clues there are. Lets go to peter barnes. The fed continues, the fedcoy ashley. The fed continues its taper policy, cutting bond purchases by another 10 billion a month as expected, citing a pickup in Economic Growth. Let me get to the Economic Analysis straight away. Quote, information received since the fed met in december indicates that growth in Economic Activity picked up in recent quarters. Labor market indicators were mixed but on balance showed further improvement. The Unemployment Rate declined but remains elevated. Household spending and business fixed investment advanced more quickly in recent months while recovery in housing sector slowed somewhat. Fiscal policy is restraining Economic Growth although the extent of restraint is diminishing. Inflation has been running below the committees longerrun objective but longer term Inflation Expectations have remained stable. Jumping ahead in the statement to the keyylines here. Quote, the Committee Sees risks to the outlook for the economy and the labor market as having become more nearly balanced i it is continuing to monitor inflation developments and it says, quote, taking into account the extent of federal fist ral retrenchment since the inception of its asset program, the Committee Sees improvement in Economic Activity and labor Market Conditions over that period as consistent with growing underlying strength in the broader economy. In light of the cumulative progress towards maximum employment and the improvement in the outlook for labor Market Conditions the committee decided to make a further measured reduction in the pace of its asset purchases. Beginning in february, the committee will add to its holdings of agency mortgagebacked securities at a pace of 30 billion a month, rather than 35 billion per month and will add to its holdings of longer term treasury securities at a pace of 35 billion a month, rather than 40 billion per month. The fed says, quote, the committees sizable and still increasing holdings of longerterm securities should maintain downward pressure on longer term Interest Rates and support Mortgage Markets and help make broader financial conditions more accommodative which in turn should promote a Stronger Economic recovery. The statement goes on to say, basically assuming Economic Growth continues the committee will likely reduce the pace of asset purchases and further measured steps in future meetings, however, the fed says, once again, asset purchases are not on a preset course. The fed reaffirmed the federal fund rate at zero to a quarter . It reiterated that the fed fund rate will stay in the current range well past the time that the Unemployment Rate declines to that threshold of 6 1 2 . This is the vote for this new fomc was unanimous, 100. Also want to mention that the fed at this meeting authorized the new york Federal Reserve bank to continue to test a new policy tool involving shortterm collateralized loans called repurchase agreements. It has, it has decided to extend these test, these exercises for another year through january 5th fifth. This is a tool that the fed could use to help it to try to control Interest Rates as it, as it at some point starts to reduce its 4 trillion Balance Sheet. It is not reducing it yet, gang. As you know it is still adding to it but it wants to test this tool, continue to test this tool Going Forward for unwinding all this. Back to you. Ashley peter barnes, thank you so much. Lets get straight to the new york Stock Exchange. Markets immediate reaction, we saw drop of another 10 points and now coming back, nicole. Even more than that. We were down about 125 points. Then we got down to 165 points. We recovered right back to where we were moments before peter barnes began to speak an deliver the policymakers decision. What is interesting how you had a unanimous vote for the First Time Since the summer of 2011. Couple of things, doesnt it sound great . Theyre continuing with the tapering plan. Things seem better. But overall concerns are still housing sector still slowed. Unemployment rate declined but still remains elevated. So there is still concerns out there. Right now the other thing that im continuing to watch is the 10year bond, 2. 72 up from 2. 70 . The vix remains the same and the dow just actually now slightly improved pro before we got the fed statement. Back to you. Ashley seeing euro lose some ground against the dollar. Unchanged against the yen although we got pretty much what we expected. Interestingly made no mention of emerging markets. Tracy not at all. I think we knew that would happen. Lets go down to the pits of cme. Phil flynn. Phil, what is the initial reaction because at types it has been crazy. We had initial cut in half. We were up 15 in gold. We are up 7 after the announcement. Went back up. 17. Now were back up 8 as well. That was a pretty big move to get back where we were. We gave up a little bit on gold and silver. Now the other markets, Industrial Metals, they do not like tapering especially when you add to the fact that were going to see tapering in the backdrop of worrying emerging market economies. So the demand for the Industrial Metals are going to get hurt. It is not going to be good demand either for the oil. Oil prices started to dip. Theyre down just a little bit of at announcement. So definitely a negative anyway you look at it, for the demand for commodities and that is the initial thing. Of course you look across you know, the rest of the curve right now, were seeing a lot of movement but getting back to where we were on a lot of these commodities. Tracy phil flynn, thank you very much, sir. Ashley lets get back to our panel and digest many solve these details. Scott brown, your thoughts on the decision, on the labor front. Yes, some indicators have been mixed but doesnt really refer to the awful number we had in december and predicting things will slowly but surely get better when it comes to jobs. Whats your initial reaction . I think with a lot of the Economic Data were going to see for december, january, and february we know we tend to get major weather effects. The seasonal adjustment is very large. You can see a lot of numbers get whipped around. The fed is basing policy where it expects the economy to be later in the spring, summer and second half of the year. I think the fed does see a lot of these headwind that weve had last couple years as having faded. The housing sector is now adding. Were not going to get as big of a drag from fiscal policy as we got last year. State and local government may be expanding adding to overall growth. All the things point to better growth down the line. Maybe have some concerns about emerging economies. The fed gave plenty of warning that this tapering is coming. Really important for people to remember that the feds not hitting the brakes here. Theyre just taking a little bit of weight off the gas pedal. Hitting the rakes is still a long, long ways away. When they start hitting the brakes they will tap very lightly on the brakes. Ashley 65 billion a month is not exactly putting on the brakes. Tracy interesting they mentioned emerging markets, 40 of global gdp. Eventually they will start mentioning it. Fed could be repurchasing bonds in the future. They didnt limit that. Ashley right. Right. This is what will happen. It will be year of emerging markets. 2010 was greece. 2011 was e. U. Crisis. 2014 is the emerging markets issue coming full bore. The fed said inflation is not an issue. Well keep thh zero, sixyear running low rate policy. This will test the feds credibility on being able to pop bubbles. Inflation to the fed is not an issue. Now it is about financial excess in the system. Weve seen reserves in some big emerging market economies, the currency reserves double, double 2008. And how they manage that is so key for those markets and for the currency markets worldwide. Ashley good point. Bob, what about that . Is that Janet Yellens biggest challenge to spot the bubbles before they get beyond the point of no return . Greenspan didnt do it that well. Neither did ben bernanke. With this quantitative easing, the Federal Reserve, you could argue has been creating an overall bubble. You know the Federal Reserve is going to be there to really first and foremost work for the United States. Theyre not going to be using fed policy tools such as quantitative easing or the fed fund rate to really, you mow, sort of support what is going on in these emerging market economies. I wouldnt be overly focused on that. I think most important thing is really watch and make sure that the message gets through to the rest of the economy theyre not going to be doing anything with the fed fund rate until Interest Rates, until the Unemployment Rate really hits less than 6 . You could say it has gotten down to almost 6 1 2 but it really, truly is not there. This market is not influenced by the Federal Reserve and ashley dow is down 186 points. Reversed it. Down a buck 90. It is all about the emerging markets. People are looking for a correction. This you get a little selling pressure. Tracy charles, i want to jump in here, a weird way the ferb pushed us into risky assets, risky assets being emerging markets. Quantitative easing kind of did this to us. Now youre stopping it. And those emerging markets go down well feel the effect here. That in turn affects the u. S. Economy. It does but i think maybe hope is that again that tracy hope you have to underline and triple underline. From somewhere else, most of these emerging countries have foreign reserves. Dramatic action like turkey did overnight. I still think it is all about here at home and i think we also need to put it in proper context. Theyre still buying 65 billion of stuff. This money is not getting to main street and that is the biggest problem. Why arent they worried about inflation . Because the real definition, basic 101 definition, too much money chasing too few goods. 3 who has too much money . Anyone watching show have too much money . Let me snow that is the basic problem and conundrum theyre in. They have the gigantic Balance Sheet and it is not working. Risk is there built up every day like a ticking time bomb but it is not working. Ashley let me ask what you said, charles, do you agree with him. Not necessarily. I dont think the qe3 has not been without effect on economy. Weve had lower longterm Interest Rates and lower Mortgage Rates which helped the housing recovery but i think the fed sees this quantity kwan as being less effective over time and perhaps morris can i. I mean there is some danger that it could create bubbles. All else equaled they wan to get rid of it. It was never meant to be a longstanding program to begin with. The markets last year really overreacted to the talk of taper. The central idea here theyre taking the foot off the gas and theyre not take taking foot off the brakes and will not hate the brakes for a long time. Tracy lizzie, last word. Charles makes a great point where is the lending . Banks will do it when they see incentive to lend, right, if there is consumer demand. Again and again we have to watch out the feds credibility on popping bubbles. They dont want to use a Blunt Force Instrument of Interest Rates. That is like taking a hammer to it but weve got to watch out. The u. K. In 92 was important issue how england handed it. They were too late and too big with the rate spike. What goes on in thailand and indonesia and other emerging markets, yeah they can reserves to sterilize right, what is going on, to buy their own bond but thats limited. So whats really key is how they tell the markets, we will stand by our currency. We have credibility here. We will defend our currency. That is the storyline for 2014. Ashley well get more into this. We need to take a break. Of course we want to hear from you at home. Fill in the blank on our twitter question, Janet Yellens fed will be blank. Your answers ahead our fabulous panel will be back. We have really good coverage and good people to talk about what just happened and what will happen in 2014. The dow is down 170 points right now. It has since fallen, since the announcement. Dont go anywhere. Well be right back. [ male announcer ] e new new york is open. Open to innovation. Open to ambition. Open to boldids. Thats why n york has a new plan dozens of tax free zones all across the state. Move here, expand here, or start a new business here and pay no taxes for ten years. Were new york. If theres something that creates more jobs, and ows more businesses. Were open to it. Start a taxfree business at artupny. Com. Tracy now that they have had a moment to digest the fed decision, Nicole Petallides on floor of the exchange. Were back down 175 points, nicole. Markets are really under pressure here. Of course the earlier in the day emerging markets with a catalysts for the move to the downside. Now you heard obviously from the plans. Hey kept with the taper the dow is down 1. 1 . Really hovering not too far off the lows of the day at 15,739. Were watching as i also noted we talks about emerging markets. And talked about tepid outlooks for 2014 and we have to talk about the technicals again. I mentioned earlier today, once again you start to who haver around technicals moving average, and when you start to challenge those it is key to have support there rather than to break through and move even lower. That is what traders on wall street are really looking at as well. Right now the dow is down 170 points. You have most of these averages to the downside and retailer, drug index, bank index, transports, all lower. Back to you. Ashley broad drop. Nicole, thank you very much. Were back with our panel. Scott brown, bob pavlick, very own Liz Macdonald and Charles Payne. Let me go to you and ask you question were asking our viewers, Janet Yellens fed will be blank. What will be . I would say highly competent. She was definitely a very highly qualified candidate. She had a very strong hand in the feds policies. Not just a caretaker fed. There are actively looking forward at what they might have to do down the line. So, i think were in very good hands here. Tracy charles, what bothered you the most about this Statement Today . The fed keeps talking about fiscal policy. Tracy yeah, getting in the way. Fiscal policies are restraining Economic Growth. Came off the state of the Union Address where on one hand president obama wanted to take a victory lap and portrayed us as country falling apart and meanness success where one person takes away ability from one person to be successful. I agree with the fed that fiscal policy one main Thing Holding us back. We know all these guys are trained central bankers an economists in this vein. Even they wish they didnt have go this far, had gotten help or heavy lifting on the other side of the equation. Inequality has been around since noah and the flood. Someone tweeted back since adam and eve on twitter. Who made more than the other . Play the fed game that your executive producer lou put out there. The fed what, my answer is, slippery. That is that this whole thing about when will rates go up, it is really a slippery nonbinding benchmark. Ashley it is a fudge. Its a fudge, a massive fudge, that the Federal Reserve will reserve the right to review. It is not a trigger if the jobless rate goes to 6 1 2 or 6 to 5. They will decide to review what happens to rates. My gentleman to the left here makes a great point. To get the loans, and get people off their seat when they see rates going up. That is the trigger. Tracy policy dow down 213 points. Ashley session low. Bob, what would you put in the blank, Janet Yellens fed is going to be . I think it will be interesting because she will be tempered and measured in her approach to Interest Rates Going Forward. Ashley scott. What do you think . Do you agree with lizzie the whole notion of rates rise is a bit of a fudge, not very Clear Communications . Well, theres always a little bit of wiggle room. Youve seen them sliding on the threshold. I think the markets had a real hard concept understanding what the thresholds meant. This idea that theyre really guideposts that theyre not necessarily goals. So the Unemployment Rate goes through six 1 2 which it may do in a month or two. The feds still going to keep shortterm Interest Rates extremely. They could pull it forward or push it out depending what happens withish nation. Ashley right. There is important reason why theyre doing that. This conditional commitment to keep rates low for a long time. Long term Interest Rates a series of shortterm Interest Rates. That helps put downward pressure on longterm rates. Doesnt cost them anything. All theyre using is word. That is fudge anyway. Ashley it is a fun. Fed looking at labor force dropouts, right . Unemployment rate, 1. 3 Million People all of sudden leave the workforce. That 6 number is not a real number. Ashley producers are screaming at us. You are done. We have to go. Everyone thank you so much, scott brown, bob pavlick here in the studio. Liz macdonald and Charles Payne as always thanks very much. Great stuff. Tracy dow was at session lows. We pulled back with more fed coverage and more panel reaction ahead. We want to hear from you, as lizzie pointed out Like Old School janet yellen fed is blank. I play that with my daughter all the time. Your answers ahead. Ashley the president trying out his state of the union pitch at a costco store. Wall street journals jerry seib joins us next. Stick around. Welcome back. How is everything . Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a n title. And a raise . Management couldnt make that happen [ male announcer ] introducing fedex one rate. 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We hit, down off of that, down 185 points. Close, 7. 47. Finishes that would be official pull back territory, down 5 , since the high back in december, on the dow. When it peaked so we will keep an eye on that. Bouncing up and down quite a bit. Tracy people are waiting for the pullback. All right already, lets do it. We got president obama the day after his big address trying to sell his state of the union proposes, get this, at a costco. Costco store in suburban maryland. Should try the almond, theyre awesome from costco. Joined by the wall street Journal Washington Bureau chief jerry seib. Im a huge costco fan. Jerry, the highlight was when he honored army ranger cory remsburg. What were the highlights for you . I thought, look, when i read the speech in advance you knew that would be a giant applause line. Indeed it was, it went on for i dont know how many minutes. It was deserved and really moving. I thought the, i was also interested by the way the other line that got the most applause as far as i can recall, when women succeed we all succeed. There was battle underway for the 2014 womens vote last night between that and republican response afterwards. I do think the attempt to great many frame. Sure of 2014 as issue of income in equality, by kind of do it in softer tones than i think the president has done it in some recent months. Try to make it not sound like class warfare. That is what he was about again today. This is about Economic Growth for the whole country. Not rich versus poor. Tracy kind after different tone, right . I felt like he was surprisingly upbeat. Even though he is kind after lame duck at this point and poles are not so great, he seemed like everything is okay after all . Look, lets face it we all get carried away with washington the second term he has done. Only one year into the second term, as i recall bill clinton and Ronald Reagan got quite a lot done in the second half of their second term. It is very easy to get carried away with it is almost over for barack obama deal. He didnt have a good year in 2013. That accelerated that talk. I am still here. I have an agenda, i have various ways to enact piece of that agenda. Yes, the goals were more modest and vision may have been narrowed some but we will still do things this year. Tracy right. To your point no big policy surprises right . No big announces, energy, environment. Immigration was barely touched. Took him 40 minutes to even mention obamacare. Right. I thought the one interesting exception was this new eye raw, myra. I think well have to work on saying, although details will come later today. Not exactly is it clear what that is but it is clearly an attempt to go to security, Retirement Security for middle class americans which i think by the way is a growing issue. I think theres a sense more and more americans are approaching retirement without adequate resources. That is attempt by the president to get out ahead of that. Tracy go back to the initial comment about women and equality. Cathy Mcmorris Rodgers put in republican response. Do you think they put her in because theyre worried about Hillary Clinton coming down the pike . I dont think there is any doubt about it. Cathy morris mack rogers gave interesting response. It was thematic, not programmatic. You could not find a lot of republican policy proposals in hers. That wasnt the point. The point was to say we have different philosophy with republican party. We start with markets, that i as a woman and mother and working mother trendily to people in general and working women as well. That is the point of a lot of debate here. A lot of discussion about, in fact the president framed it this way to some extent, the discussion about income inequality a lot is particularly hard. The rules of the economic road are particularly hard for women and single women and single moms and were boeing to address that to the democratic party. Cathy Mcmorris Rodgers was there to say, hold on, we can do that as well. Tracy jerry seib, good stuff. Single people in general get ripped off by the tax code. Sure. Happy to be with you. Ashley coming up next half hour of markets now your fill in the blank tweets. Janet yellens fed will be blank. Sandra smith and david asman be here with their takes on the fed. Tracy we have a weeklong look at super stocks. This one physicians with pepsi today. How can you make money from the big game . Well tell you plus how the ashley plus how the new itunes store is giving a hint what it may have up its sleeve . Tv maybe . Well be right back. [ male announcer ] heres a question for you is your tv powered by coal . Natural gas . Nuclear . Or renewables like solar. And wind . Lets find out. This is where ameris electricity comes fm. A diversity of Energy Sources helps ensure the electricity we need is reliable. Take the energy quiz. Energy lives here. Ashley volatile after 90 minutes until the close look at the dow 30. A lot more red on this day as the markets selloff but it is coming back down 200 points ten minutes ago on the upside, microsoft, verizon, boeing and cocacola bringing up the rear. Nicole petallides has the latest. Nicole much of the same, i walk around for talking to traders doing the same thing youre doing which is looking at the dow 30 and here is a look at it, plenty of red on the screen and boeing and cocacola big laggers, boeing counting for 50 negative dow points. I wanted to look at some traders looking at very closely. See the white line . The 200 day moving average. The red line is the 50 day moving average, this is the s p 500, what traders of looking at. This is the prior day. See how we held on to the 50 day moving average. This is where people start to worry. You look at that. That is the s p 500, that looks you see this drop we this scene in the last week or so the s p is down 3. 7 this year, the dow is down 5 , it shows you we are in some sort of correction type mode and it continues until you start to see a bottom that it actually holds. In the meantime you break through moving averages and technically there it is. Tracy could be buying opportunity. Time for your tweets, fill in the blank, janet yellen said will be blank at the bottom of the screen, we are joined by sandra smith and david asman with parrot breaks. You were in the pits of the cme, two announcements ago when it was on fire, craziness. What do you bring in today . Liz i was hearing a lot of speculation, emerging markets and maybe we would see the fed scaledback 5 billion more than 10 billion. When the fed statement came out i dug through it, no mention of the emerging markets. Right away went to bill grosss twitter page and he said it moved to treasury so the fed is boasting about growth scaling, capering by 10 billion talking about growth, looking at the yield on the 10 year sitting at 2. 7 , that is not a growth story, that is an investor saying the economy is stagnant so two different stories. Dave might be touting his own book. Can i say one thing i think happened . This is the first time Richard Fisher has voted in years. He appeared two months ago saying he felt 10 billion wasnt enough, it should be twice that, 20 billion but he voted with the group, unanimous decision. A lot of people wonder whether he would be sent, maybe there was some kind of deal going on, Richard Fisher said i know you guys may want to give a little more to the emerging market situation, more accommodating to is that. I want to be a little tougher and maybe t little dealsmaking going on. Ashley to the emerging point, i think traders are saying this didnt show up on the feds radar. They have been going crazy, centralbank in emerging markets fighting for their Financial Life and yet it doesnt even warrant a comment from the fed. Dave if that is sensitive to charges some of whicc are true, too accommodating to stock markets whether our own stock market for and stock markets and they want to disassociate themselves because the mandate is to keep the currency under control and keep unemployment low and sometimes when a market goes up it is because they fire people so it goes against the unemployment mandate. Too closely aligned in markets. They wanted us to have stocks and risky investments pushed us out. So my answer to the twitter question, really interesting question was pragmatic. Have no reason to believe janet yellen will enter and take a pragmatic approach, she has a lot of problems on her plate, she is an economist and has to deal with these reasonably and expect that she will. The problem is economic policies in washington, the weight of the world cannot be on the feds shoulders all the time. And the policies in washington affecting the fed and how the fed will respond. Ashley let me ask you this, one of the Biggest Challenges is janet yellen to get ahead of financial bubbles that are out there. The emerging market being an example of that and to take care of these bubbles dave i was very surprised there wasnt some may not have accommodated there tapering to what is happening in the markets but some mention of it will come later. She is feeling her way through, this will be a more contentious Federal Reserve that was before. Tracy no longer voting. Does that concern you . Dave they have been replaced by fisher. There is a kind of a balance but an overwhelming what we saw in the last bill was overwhelming consensus for continuing to taper or going deeper with the taper so maybe what she wants is not what she is getting. I would suspect if i was to throw one word to answer the question she will be frustrated. Frustration will be a big part of her because she would like to be much more accommodating, much looser with money. Tracy your word is frustrated . I will take it. Thank you, thank you. Ashley i had in our weeklong look at superstocks, cashing in or superbowl ads all over the top. Tracy a rare southern ice and snow storm brings atlanta to a virtual stop. It is crazy. The polar for tax is killing retail sales too. Ashley 21 2 inches of snow, disaster. And taking a look at how oil closed for the day down 0. 05 at 97, 0. 36 a barrel. We will be right back. Then we gave each person a ribbon to sh how many years that amount might last. I was trying to, like, pull it a little further. 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Adam adam shapiro with your fox business brief. There should be Money Transfer licenses forbid the growing number of merchants to accept Digital Currencies could make it harder to attract money laundering. Reuters reports targeted officials will participate in a telephone briefing with White House Committee investigating data theft. Eric holder confirms the department of justice is investigating the target region and is committed to finding the perpetrators. Fiat is changing its name to the out chrysler automobile. Sergio marchionne, ceo of the auto makers say it is designed to break with tradition. Fiat and chrysler. Shares trade on the Stock Exchange as early as october. That is the latest from the Fox Business Network giving you the power to prosper. Ashley there is little relief in sight from a deep freeze gripping the south. Temperatures unlikely to rise above freezing for long enough to of those like covered roads and bridges and the storm turned highways in atlanta into a nightmare paralyzing traffic, stranding drivers who are not used his fists, painfully frigid weather is hurting retail stores. Retails looking to attract a few brave souls that hid their stores so they can do some real time information gathering from a startup called euclid analytics, Technology Track that shops by aggregated pins from smart phones. We talked about this before. Here to tell us about it is will smith, euclid analytic ceo. Thank you for being here. Why is this important . You are tracking shoppers going into a party to the store off of their smart phones and cellphones, what is that telling you about shoppers . We are trying to do what amazon and google have been doing for years online which is making the Shopping Experience better for today and with our technology, retailers can make smart decisions and figure out what is working and what is not. Ashley what information can you provide retailers . People walk by the score or come in and how frequently did a visit and how long do they stay. Ashley what can the stores do with that information . One of the things were looking at is line blank. One of our customers at a coffee chain in the bay area, and the lines get along of. When you coming for five minute and get frustrated by the line and leave. We could make it better. Ashley interesting. As with everything when you are gathering information was the public out there, concerned about security, what information i you gathering and who gets to see it . With any new Technology Privacy is a big question. We have worked with the future of privacy forum, senator shimmer and leading retailers and Technology Companies to provide conduct, it is based on three principles, first is limiting the data we collect, making sure all the data we show is arrogant and anonymous, no personal information and provide an easy of doubt. Because of this we recently named the design ambassador. Ashley how old is the company and how many employees . We are about 40 people. Ashley are you based in the bay area . San francisco. Ashley crazy part of the country. And a beautiful part of the world. What are your plans for the future . We are excited about continuing to answer fundamental questions for retailers figuring out which half of your marketing is wasted, questions like that. Ashley the mention the opt out. This type of information gathering becomes other companies doing the same thing. I just have to turn up the wifi button on my phone and you cant track meet. The easy opt out, does that hurt you . I think it is grade. We have to provide choice. At an end of the day when our data is being used for is to improve the Shopping Experience and consumers will be happy. Ashley how would you describe the economy . Youll laugh. The weather is not helping retailers. One of the metrics we look at is how many people walk by the sport and when it is freezing outside not a lot of walking by. Ashley the only reason they go in is to get warm. Euclid analytic ceo will smith, thank you for being here and continued success. Tracy i am one of those people who leaves when the line is too long, patients of a 2yearold. It is time kris cox. The market is not having a lot of patience. We head to the floor of the exchange and thankfully, teddy was third with us right now. What is the story with the fed decision. We knew it was coming. There was some Wishful Thinking that the fed was putting tapering on hold and would have tapered less but i think that is nothing but Wishful Thinking. It is ultimately negative for the market. The fed back stopping the market with monetary easing policies off of the table, when the focus is corporate earnings, a mixed bag, a and the emerging markets again, and the heroes dont, and it gets of little problematic and a market created an alltime high, doesnt leave a lot of room on the flip side for bids and a vacuum on the bid side and we have been in trouble since the beginning of the year and i suspect it is going to be difficult Going Forward. All the low hanging fruit for all intents and purposes has probably been picked to. Tracy either that or he is rotten now. Teddy weisberg, thank you. Ashley superbowl super stock of the day, todays pick, pepsi. Down today. And the beverage makers up 13 , not bad chart. Plan to invest 5 billion to expand production to marketing in mexico and an investment that would add 4,000 jobs. In 2012 developing emerging accounting for 35 of the companys revenue. As for it superbowl labs, pepsi planning two, 30second spots, pepsi, lot of pepsis, featuring fox sports commentator terry bradshaw, shannon sharp, Deion Sanders and mike ditka, rendering sundays Grammy Awards show. It is a key sponsor of the nfl and official sponsor of the alpine show. Super bowl halftime show will be headlined by tracys alltime favorite pop sensation bruno mars. Catch that halftime show. Tune in to your fox affiliate as it gets underway at 6 30 p. M. Eastern time. Will be cheery inside metlife stadium. Tracy and his hair. Gray hair. All right. Next in your tech minute why changes to the itunes store could signal a new product line. All you detectives from apple. Ashley look who is on the cover of the iconic lesley name, Rolling Stones. Interesting stuff. Quick look at the weather. Nice day, beautiful tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Driven to preserve the environment, csx moves a ton ofreight nearly 450 miles on one gallon of fuel. What a day. Cant wait til tomorro ashley time for your tech minute, shares of yahoo deep in the red after the Online Company reported a declining revenue stream that shook investor confidence, four brokerage houses lowering their price target this morning. Ceo Marissa Meyer has moved to kickstart the company with products makeovers, acquisitions and big eyes and that sales continued to struggle. Yahoo also seeing a decline in online at prices and Slower Growth of our ali baba in which yahoo has a large stake. Apple creating a new session for apple tv on its web site with valentines day promotions and fancy design of grades, and apple tv no longer the redheaded stepchild of the apple product line, steve jobs hoped apple tv would be a major product for the company like the i phone and the ipod have been. As the new web page sessions signal that appleby is in the not too assistant future . Apologues 95 reporting the company is expected to implement changes to apple tv in the coming month. Stay tuned. Facebook, Mark Zuckerberg saying the company has saved more than 1 billion thanks to build open source service. The environmentally Friendly Initiative blossomed into server designed for ibm, microsoft and intel. Keep it right here for complete coverage of facebooks Fourth Quarter earnings on after the bell with liz claman and david asman and 4 00 eastern time. Tracy ashley revealed it before, pope francis on the cover of Rolling Stone magazine. Saying he is the new darling of the left. Describes him as the new king of the liberal and Rush Limbaugh used the phrase pure marxism. He is the pope, he is supposed to be inclusive. He is supposed to be liberal. Rolling stone also wrote pope francis is making the quote nick and unnoticeable break facing political issues head vonage presenting a more allinclusive attitude toward human rights but hes just doing his job working with the times, hes tweeting getting to the people. Ashley i think it is a breath of fresh air. Tracy i did not expect you to say that. Ashley finally getting out there embracing new technology. You are right, the pope should be all inclusive. That is what it is about. Tracy we agree. I am so happy. I am converting. Countdown to the closing bell is next. May be running into heavys tickles in dan logans quest to break adele chemicals. Warren buffett is here with mr. Buffetts comments to liz about how the ceo is running dow chemical and dow is down 175 points. Mpany 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. Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life asier. Maybe a promotn is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliabity of fedex. [ male announcer ] introducing fedex one rate. But with less ergy, moodiness, i had to do something. I saw mdoctor. [ male announcer ] introducing fedex one rate. A blood test showed it wasess, low testosterone, not age. We talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. Axiron is not for use in women or anyone younr than 18 or men with prostate or breast cancer. Women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpted signs of puberty in children or changes in body hair or incased acne in women may occur. Report these symptoms toour doctor. Tell your doctorbout all medical conditions and medications. Serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. Ask your doctor about axiron. Liz showtime for facebook Mark Zuckerberg. The stock has been on a tear. Will it get tw to thumbsup from wall street . And a homegrown mobile ad network. Should online news aggregator sites like flip board be threatened by facebook and yahoo muscling in on its business