yesterday in a big way along with gold and oil, mostly on word the fed sees slowing in the economy and may reduce or increase its bond buying program, which has been stimulating the stock market. facebook has a mixed posting. the social media company missed on earnings by a penny, but revenue was better-than- expected on ad sales. the company also reports the chief accouting officer is leaving. and apple's hot bonds: the tech giant is offering a landmark $17 billion in bonds, which have been trading in extremely high volume for two days now. todd horwitz of average joe options joins us now for his outlook on the trading day. always a pleasure to have you on this show. - good morning angie. - there has been a lot of chatter going into the ecb rate meeting today. how big of a deal is this to the market, or is it just a lot of chatter? - i think it is a lot of chatter. however, draghi has been on the tack that he is going to do anything it takes for the market. if he pulls anywhere back from that statement, this will cause the market to sell like we saw yesterday. yesterday we saw a very controlled sell-off. if he does not deliver and does not keep his word that he will do anything that it takes, it will cause our markets to go into a little bit more selling pressure. - we are post- the u.s. fed, so what is the take-away for traders? - you know, i think the traders here, i think the market is priced for perfection. i think what you want to look at is that i don't know how much higher we can go. i'm not predicting a top. but what you have to look at is that the odds of the market going higher, the risk is to the downside here, and i think that is the way that you have to look to trade it. either you want to be neutral, observing the market, or looking for an opportunity to get short this market. - the adp jobs number came in shy. what will that mean for the jobs number ahead? - you know, i think the jobs number ahead, it is always a quirky number, because the headline number, which is the 7.6% or whatever, they count people that have left the workforce. i would expect this number to probably miss, because adp missed pretty badly, i would expect friday's number to miss as well. - there have been some big misses in this market on earnings: at&t, merck recently, caterpillar; and yet, sometimes these stocks are catching a bid. what would be your play? - you know, the safety stocks such as at&t, they are catching a bid because really, the flow of money, the flow of funds, is going out of the higher-risk assets and into stocks like at&t, into the bond market, and so on, though those stocks are now becoming very overvalued. i think the play here is to get into cash and look for a spot to try to. if you do trade both sides, this market, look to short this market. - thank you for your insights, todd. - thank you so much. have a great day. in our cover story, union steelworkers in milwaukee are waiting to hear from caterpillar when contract talks will resume. that's after rank- and-file workers rejected the company's first contract offer presented to them. 95% of the roughly 800 rank- and-file steelworkers cast ballots and rejected caterpillar's six-year contract reportedly by "an overwhleming margin." workers who build hydrallic shovels for mining also authorized going on strike, but wednesday morning showed up for work. "it's more likely we'll get a second offer that's good enough to avoid any further confrontation." almost immediately, union president leo gerard urged caterpillar to resume negotiations and for now extend the old contract. there was no immediate reponse from the company, which did not respond to requests for interviews about the six-year contract that would freeze wages and pensions in exchange for bonuses and job protection from layoffs. but in a statement, a spokesman said, "the outcome is unfortunate. our employees rejected what we believed to be a competitive contract offer." "this would be a similar contract to what's done elsewhere, including one where a strike happened. it would improve margins and reduce caterpillar's labor costs." the company says sales of mining equipment are down as prices for coal, iron oar and copper decline. but the two-tier pay scale - less for new hires - caught labor professor bob bruno's attention. "the very fact that cat wants a two-tier pay scale means it expects more work to be done there and that there will be hiring there." whatever hiring may come in the future, caterpillar warned before the vote that it will temporarily lay off up to 40% of its workforce in south milwaukee this summer. workers there make beween 18 and 34 dollars an hour. workers around the globe are rallying against low wages. yesterday in may day protests, americans pushed for immigration reform and people in turkey, spain, greece, italy, and france took to the streets trying to persuade governments to ease austerity measures and instead boost growth. even today, some trains, ferries and banks are closed in greece as marches continue. may day marchers in bangladesh focused on the tragedy that killed 386 people in the garment industry. the new york times reports american and european retailers are creating distancing from the disaster or pledging to help victims. cato corporation and children's place claim to have not been using the bangladeshi factory at the time of the collapse. officials at wal-mart, gap and h&m met this week to discuss adopting higher safety standards in bangladesh. the environmental protection agency is at the center of the ongoing debate over fracking. this week, california lawmakers advanced a bill that would enact a state-wide ban on hydraulic drilling. "the epa has documented how air quality in wyoming around fracking sites is worse than what we're finding in los angeles. so the question that we have is, should we deepen our dependence on dirty fuels, should we extend our dependence on natural gas, or should we shift?" "the epa this week released a statement saying that from 1990 to 2007, natural gas production has increased by a whopping 40%, and at the same time the industry has lowered emissions from methane by 20% and the climate change battle is not as severe as once thought." proponents remain largely focused on the economic benefits to communities with fracking jobs, while critics are concerned about limited regulations. the lumber business is building strength from the housing recovery. fourteen lumber mills in the u.s. and canada will reopen after shutting down following the housing crisis. also, lumber prices are on the rise, which is causing home prices to increase. reports say the industry was slow to re- invest following the depth of the housing industry downturn. president obama is making two more nominations: he's naming mel watt to head up the federal housing finance agency because he says watt understands what led to the housing crisis, and tom wheeler is the president's choice for the fcc. wheeler is a former telecommunications lobbyist who used to invest in start-ups. the nominations came with presidential humor... "i'm going to go ahead and thank the senate now for what i'm sure will be a speedy confirmation process so these two gentlemen can get right to work." turning now to earnings, disappointing numbers from merck and mastercard dragged on yesterday's market. first- quarter results were down at drugmaker merck after generic competition cut into sales of its diabetes drug. the company lowered its 2013 outlook. mastercard cited a "choppy economy" for its results. the company missed on revenue estimates. over at time warner, slow sales of magazines and movies kept revenue flat. however, its ceo said it's off to a strong start in the first quarter. phillips 66 was the silver lining of the day. rising oil prices helped the company's profits double. sales are springing forward for u.s. automakers. april was the strongest month since 2007, with gm, ford and chrysler all posting double-digit gains on the backs of a surge in truck and suv sales. ford sales rose 17.9%, gm and chrysler both had 11% growth. honda sales were also up by 7.4%. toyota slipped 1.1%, while volkwagen was off by 10%. it must be celebration time, because investors are turning to sin stocks. the consumers staples sector is up 4% - that includes beer and spirit stocks like anheuser busch inbev, diageo and beam incorporated. the reason? more drinkers in emerging markets are toasting with western spirits and beer. and, customers tend to be very loyal to their drink of choice. drugmaker stocks turned into eye-poppers on wall street. allergan lost around $14 in trading yesterday on word there's a 2-year delay in putting its vision loss drug on the market. that magnified trading in regeneron, which shot up $22. the company already has a successful eye drug called eylea. a trading loophole has the attention of officials at the chicago mercantile exchange. the wall street journal reports high-speed traders have been taking advantage of a fraction of a second to trade on computers before other investors in the market. cme says in a statement it's "continually making improvements to our trading platform" and its goal is to "bring variability as close to zero as possible." the owner of the chicago cubs is swinging for the fences. tom ricketts says he would consider moving wrigley field if plans for a larger scoreboard and more signs are not approved. it's been a long-brewing battle with the city, the team and rooftop owners who don't want views blocked. ricketts maintains upgrades would drive more revenue to wrigley. forbes lists the cubs as the 4th most valuable franchise at $1 billion. the cubs have not won a world series since 1908. still to come, why employees at warner brothers will be sweating it out this summer. but first, insider tips on how to travel through europe without breaking the bank. first business continues right after this. this neighborhood sure has changed a lot over the years. you know there was a time when people like me couldn't live here. i'll never forget being told i wasn't welcome in this neighborhood. well i own this building now, the fair housing act made a difference for someone like me. so i can choose where i want to live, free from discrimination. glad you could make it, right this way... and there's a big advantage parents can give their kids -- making sure they get active at least 60 minutes each day. studies show that physical activity not only helps kids stay healthy, it can enhance important skills, like concentration and problem solving, which can improve academic performance. this means physical activity can help your kids in the most important game of all -- life. the great grandson of henry ford says the car as we know it is going to change dramatically and fast. bill ford jr, executive chairman of ford, says we will soon be sitting in a rolling group of sensors that drives itself, communicates with other cars and runs on hydrogen. ford's future-gazing came at a speech in los angeles. much of these leaps, he says, will happen within five years. by car, plane and boat, americans are making plans for summer travel. jeanine tornatore of orbitz is here with tips. good morning to you, and what are some of the biggest destinations of the summer? - according to orbitz.com bookings, our number-one most popular summer destination is orlando. that is followed by las vegas, cancun, seattle, and los angeles, which rounds out our top five. the second half of the top 10 we have honolulu, new york, san francisco, maui, and denver. - what are the best places for a budget- conscious person? - here we looked at destinations that had the best prices for a combination of airfare and hotel for a 5-night stay. topping the list are three florida destinations: tampa in at number one, followed by orlando and fort lauderdale. also on our list we have las vegas and denver, which round out our top five. cancun is our one international destination that made it onto our top 10 list. but if you are thinking of a little european vacation, we are actually seeing pretty good deals in places like italy, into the netherlands. big cities like paris and london and rome, those are going to be more expensive. think about smaller alternatives. for example, when i looked at airfare into italy, instead of flying into rome, look at flying into milan. if you're going to germany, for example, instead of flying into berlin, look at flying into duesseldorf. those types of small changes to your itinerary can save you hundreds of dollars on your flight. - you also looked at what people want as far as freebies at hotels. no surprise, breakfast. a lot of people - i know i'm among them - this is a great little perk. - what's interesting this year is that we are actually seeing hotel rates, on average, year- over-year they have gone up, in all but two of our top destinations. so people are really going to have to look for those additional value- adds, those freebies, to help offset the small increase in hotel rates. breakfast is a big one. for a family of four, that could save you $50, $60 a day. - and jeanine, why is it that americans are so lousy at taking vacation? one in three of us will check in at the office. - i think one thing people need to consider is, when you are on your vacation, if you need to check in with work, set aside a little time every morning or in the evening when you go and do that, and for the rest of the time, step away and enjoy your vacation. - jeanine, thank you for your time today. - my pleasure. still ahead, the box office is shifting into blockbuster mode. what long-awaited hits are coming soon to a theater near you. that's next. summer blockbusters are starting early this year. our movie man, erik childress, joins me on set this morning. good morning, and "iron man 3" already a smash hit overseas. - certainly. - what happens this weekend? - the buzz is fantastic on the film, i think it is going to do monster business this weekend. we are going to see if it gets that sort of "avengers" bump from last year. like i said, the buzz is terrific, and i think by next weekend you are going to see this being the biggest film of the year so far. - here is what happened at the box office last weekend: it was "pain & gain" at the number one spot, "oblivion," "42," "the big wedding," and "the croods" all on the top 5 list. this weekend, as we mentioned, "iron man 3." now coming out this summer, we are checking in with some warner bros. studios films. the big name on this one is what? - it is probably "man of steel" is the one they are probably really looking forward to. they get their summer going next week with "the great gatsby," which is a $100-million budgeted re-imagining of the film with leonardo dicaprio. same people who did "moulin rouge" and "romeo + juliet." i don't know if anyone is really clamoring to see another version of this story. i certainly am not, and i don't think it is going to do $75 million in the u.s. - any hope for "the hangover part 3?" - that it could be better? maybe. but even fans of the first one really hated the second movie, so i think that is going to be reflected here. so i think maybe $150 million is maybe the ceiling. - "man of steel" you mentioned, "pacific rim," and "the conjuring." - "man of steel," like i said, is the movie that warner bros. is really sort of hoping is going to be the big hit this summer. i think anything less than $500 million worldwide will be a disappointment for them. "pacific rim," though, "man of steel," all of its profits might be for naught if "pacific rim" doesn't really match its $150 million+ budget with godzilla versus transformers. i think that is really going to be warner bros'' biggest disappointment this summer. - "300: rise of an empire." it's a sequel. - it's a sequel, and again, i don't know who was clamoring for a sequel to "300," which was a big hit a few years ago, and i think this is a prime candidate for a film to get moved out of the summer. watch if warner bros. has one or two disappointments that this film maybe gets pushed back to maybe even early next year. - "we're the millers." jennifer anniston back on the silver screen. - yeah, with jason sudeikis, the director of "dodgeball." could be a late-summer surprise. "the conjuring" you mentioned also, james wan, director of "saw" and "insidious." horror movies in the summer do ok. this one has got a very creepy trailer, could be a nice summer surprise. - and "getaway." selena gomez. - selena gomez. not exactly a proven box office star. a late, kind of a dumping-ground area, august 30th. we will see. maybe, kidnapping thriller with ethan hawke, maybe draws a little bit of surprise. it's not a big- budgeted film. warner bros. is really going to be watching "man of steel," "pacific rim," and "great gatsby" to see if some jobs are going to be saved at warner bros. this year. - it could be a long, hot summer. - it could be. - thank you erik. have a good weekend. - thank you, you too. coming up, paper, scissors, rock: which category makes for the best investment. find out in chart talk. 7,000 high-school students drop out every school day. let's catch them before it's too late. to start helping students in your community, visit boostup.org. we made our way to chart talk for you. jared levy of zacks.com joins us for that, and international paper is your stock pick. why is this on your list? - you know, ok, i am getting really un-sexy here. the reason why i am getting un-sexy is because the stock market is a little bit edgy right now. materials prices, commodity prices have been coming down sharply. international paper, obviously, as the name implies, produces paper, cardboard, things like that. as their input costs come down, i think their output, their margins, their profitability will rise; and again, it's only trading at about 11 times earnings, which i like. - it's trading just below its 52-week high, so is this really a time to buy, to get in, while the chips are down? - you know, i will tell you, with the sell-off that we saw, the stock is actually coming down to its 50-day moving average, right around $45.70. i think that is a good buy point, and the reason why is, we are at the bottom of our current channel. to the upside, maybe 5-8% or so in the near-term. that is what i'm looking for here in ip, and if you want to hold it longer, it is a dividend stock too. - the hedge funds aren't interested in this one. does that give you any pause, or is that a reason to buy? - as much as i would love to follow sort of hedge fund action, i really believe in looking back at the core of a company, looking at their fundamentals, using their technicals, and to be honest with you, no. i mean, to me, it is more about the core of this company, about what they do, their valuation, and about their expected growth of about 11% this year. for a stock that is trading 11 times earnings, 11% growth - peg ratio one - means there's not a lot of expectations. and when the market is hairy like it is right now, i don't want to get caught up in a big expectations stock. - so you are going boring with paper. - that is right. - please join us tomorrow, jared. - thanks angie. coming up on tomorrow's show, it's traders unplugged, with the guys getting behind the wheel of a stock that is in overdrive. from all of us at first business, have a terrific thursday. >> announcer: the following is a paid advertisement for cold plasma sub-d by perricone m.d. how old does your neck make you look? would you like to take years off your appearance and help remove some of the signs of aging on your neck for a look that is firmer, tighter and more youthful? well, now you can. introducing dr. perricone's cold plasma sub-d. sub-d is specifically formulated for the area called the submandibular. often neglected, the skin in this area has unique needs, and cold plasma sub-d helps tackle
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