The nasdaq is nearing 4,000 and the s p has dropped past 1,800. Stocks slipped tuesday as traders took money off the table to pocket profits. Gold gained a couple dollars and oil shot up 3. Opec members meet in vienna today for their last session of the year. The big deal there is how members will handle civil issues in lybia, iraq and iran. Extyco ceo Dennis Kozlowski will be set free prison january 17th after spending 8 years behind bars for corporate fraud. And, some abercrombie and fitch shareholders are making a pitch for the retailer to consider a ceo change as the store loses popularity. Larry shover of sfg alternatives joins us now for a closer look at todays trading action. Good morning to you larry. Good morning. The market is now in a steep slide. How are traders reading that . Differently than they were before. I think it was prerogative for traders to think that were just gonna rally because every december we do that. But on the other hand, traders also are recognizing that we have had 8 consecutive weeks on the upside. So maybe just some healthy consolidation is in order here. How much of this has to do with the possibility of the fed tapering . We had that big jobs number everybodys focused on. What do you think is happening . I dont think a whole lot has to do with tapering. Right now people understand that tapering isnt tightening. And the market has priced in the fact that were going to taper. Whether its december, january, or march. I think it makes little difference to the equity markets. What about the underperformers . A lot of traders are trying to find those stocks that have not participated in this superhot rally. Yeah, thats a good point. One of the ones i still like is the big banks. The s p 500 trading at a 15 times multiple. Some of your bigger banks are 12 times multiple or even less than that. So i think that with the onward expansion in our economy the big banks will benefit in 2014. Thank you for your insights larry. Thank you. A legal blow is happening to the people of detroit who were hopining to be spared losing pension money in the nations largest bankruptcy filing. Federal judge ruled the motor city is eligible for chapter 9 bankrutcy protection. The concludes cutting pensions of retired city workers can be included in detroits financial re organization. Detroits emergency manager kevyn orr appointed by michigans governor says we are gratified with courts ruling it allows a clean slate and fresh start to remove crushing debt a National Pension fund spokewoman says modest pensions of detroits firefighters, police officers, and other City Employees could be all but wiped out, even as wall street banks continue to extract hundreds millions of dollars from the citys economy. An attorney tell us city officials cannot sole use Pension Funds to pay debts. The judge mentioned this, the cuts have to fair and equitable which is not all the emphasis on just the retirees legal manuevers to come could negotiating contracts with creditors. The judge even even addressed that concern many of the parties had raised, did detroit really negotiate in good faith or did it do the minum of meeting with creditors to get to a bankruptcy it has planned out long in advance the city of detroit faces a mountain of debt that totals atleast 18 billion dollars. Chuck coppola as the latest from the uaw the united autoworkers is considering its first union dues hike in more than 40 years. Sources tell rueters a full time autoworker would see monthly dues climb to 70. 32 per month, up from the current 56. 25 per month. The uaw is the countrys richest union with 1. 2 billion in assets but has seen its membership drop by 30 since 20 05. By increasing dues sources say the union could cover costs of dwindling membership and rising expenses. Union workers time on Assembly Lines is paying off for car companies. Car and truck sales were brisk in november. Especially at the end of the month. Auto sales jumped 3. 6 industrywide according to kelley blue book. Chrysler was the biggest winner with a 16 pop, follwed by gm with 13. 7 . Ford gained by 7 and toyota 10 . Strong demand coupled with new offerings from automakers are cited as reasons for robust sales. Tesla shareholders are feeling a wave of relief. Tesla stock jumped 16 and a half percent on word that german officials will not pursue further measures after its review of teslas troubled model s. Shares of the electric car maker hit a rough patch beginning in october after three high profile fires led to a federal investigation. Meantime. Morgan stanley is eyeing tesla. The stock is number one on the banks list of top rated u. S. Auto stocks. Shares closed at 144 dollars yesterday. New details are emerging following a train crash that killed four people in new york early this week. The trains conductor tells investigators he lost focus and went into highway hipnosis before the train jumped the tracks. An investigation by the National Transportation safety board is underway. Officials confirmed the train was speeding at 82 miles an hour in a 30 mile per hour zone. The investigation could take weeks or even months. Now that healthcare dot gov can handle the traffic, president obama is launching a Public Information and relations blitz to promote participation in the Health Insurance exchanges. The president held an event at the white house yesterday in an effort to shift National Focus towards the benefits of the new law and away from the rocky rollout of the site. Republicans continue a campaign against the Affordable Care act. House Speaker Boehner calling it a governmentcentered Health Care Delivery system that is fundamentally flawed. The student loan industry will soon be closely watched by the Consumer Financial protection bureau. The Watchdog Agency will now have Supervisory Authority over nonbank companies. The agency already oversees Student Loans issued by banks but most Student Loans are serviced by companies. The agency will ensure that loan servicers are complying with the laws. Student loan debt in the us tops 1. 2 trillion and as many as 7 million borrowers are in default. Bp may catch a break from a federal appeals court. A ruling this week requires Business Owners seeking payouts from the 2010 oil disaster in the gulf coast to prove that damage was directly caused by the spill. Tens of thousands of gulf coast businesses filed claims. The oil giant has been suspicious of some claims and this weeks ruling could save bp hundreds of millions of dollars. Bp now estimates the settlement will cost about 9. 2 billion dollars. Royal dutch shell Just Launched a sea monster. This the shells prelude flng the largest vessel ever to float in high waters. Its around the size of 4 football fields and contains a liquiefied natrual gas plant. Shell is already working on an even larger floating factory with an estimated cost 12 billion dollars to build. If its a success it could become the wave of the future for the oil industry. An early vote to raise the minimum wage in the nations captial received overwhelming support this week. The d. C. Council voted unanimously to advance the billhiking the minimum wage from 8. 25 to 11 dollars and 50 cents per hour. Dc mayor vincent gray has said he supports a wage hike, but not above 10 dollars an hour. The next vote is expected early in 2014. Fast food workers will be taking to the streets in more than 100 cities tomorrow in another push for higher wages. The one day walk off is part of an Ongoing Campaign to raise hourly wages to 15, organizers are hoping for the largest demonstration yet. Similar protests were held this summer. A restaurant lobbying group says past demonstrations have fallen well short of participation goals. Despite ongoing labor issues, business is not slowing down in the restaurant industry. The National Restaurant associations Performance Index rose to a four month high in october, as Restaurant Owners remain optimisitc about sales growth in the months ahead. Chris walsh of restaurant review site zagat. Com says tabs in americas restaurants, are also on the rise. The National Average for people to eat out is 4. 4 meals per week. Which i think is pretty high. And every time they are going out, they are spending on average, about 40 dollars. Walsh also notes that americans are tipping better. The average tip is 19 . Above the standard 15. The days of waiting for the check will soon end at applebees. The casual dining spot plans to install tablets using Intel Technology at all of its tables by the end of 2014. Diners will be able to view the menu and pay the bill using the electronic gadgets. Servers will still take orders. Chillis is already in the process of adding tablets and ihop is expected to follow. The new playstation 4 is a hit sony sold 2. 1 Million Units of the new game console worldwide just 2 weeks after launch. One million sold in the first 24 hours in the u. S. Sony rival microsoft broke the one million mark with the release of its new xbox. Analysts predict playstation may outsell xbox because it costs less. Google is going out of this world with its technology. Today, nasa is holding a google plus hangout event with scientists talking about images from saturn and what the future holds for exploration of the ringed planet. The photos and conversation will streamlive for viewers at nasa. Org. On this planetthere are many reasons why the typhoon that struck the philippines last month is lagging far behind other disasters in terms of relief aid being donated. And as our cover story explains, some think it is also fighting charity fatigue among even the most generous in this country. When typhoon haiyan, one of the strongest storms ever recorded struck the philippines, killing more than 55hundred people, americans donated a tenth of the assistance that was sent to haiti after an earthquake rocked Port Au Prince nearly four years ago. Its not perceived that the help is getting to where its needed, so i think a lot of people are sitting back to wait and see what happens. Researchers say timing may be a factor. The typhoon, big as it was, was overshadowed in the u s by coverage of the Affordable Care act, preempted by the approaching holidays. Add to that, more than a years worth of relief efforts after, superstorm sandy. I think there may be a disaster fatigue taking hold. Weve gone through a lot in the last few years and theres a bit of fatigue. other charities are receiving more appeals for help. Military families are working with walmart and fisher house on a campaign called Operation Homefront to pay for military families, utility bills and toys for the kids, this year. There has been a contageon effect of the sequester upon military families and were relying on organizations outside the government to fill in that gap. Corporate giving is back. But they are giving smarter choosing which ones to give to. Theyre also encouraging their customers to give overall though, the us is still the top donor to humanitarian efforts, contributing more than four billion dollars in disaster relief, last year. Still to come mall madness how shopping strips are making a comeback. Plus. Why cyber monday is evolving into mobile monday. And. If you thought the era of Excessive Bank fees was over. Hold that thought. Thats next after this in the know message new rules are stopping banks from charging excessive fees on bouncing checks. But, some banks are working around the rules by increasing fees in sneaky ways. Greg mcbride is here to help us stay a step ahead of the banks. Good morning greg. What are some interesting ways banks are now charging consumers . The thing to keep in mind is that there have been regulations that have been put into effect over the last couple of years that have crimped fee revenue in some areas but its like a game of whackamole, you just see fees pop up in other areas. It can be everything from maintenance fees or a stealth fee increase like a higher balance requirement. Another one i have seen is a fee for returned mail. If you move and dont tell your Financial Institution your forwarding address you could get charged a fee if that mail gets returned to them so you gotta stay on your toes. Come on the banks collected 8. 39 billion dollars in fees just in the 2nd quarter. What are you noticing among big banks versus small banks versus the Credit Unions and these fees . The one thing that they all have in common is that this is a very unfavorable Interest Rate environment for them. The old model of bringing in deposits at one rate and lending it out in another has really been squeezed by these low Interest Rates and so they are all the more reliant on fee income. We do see some differences between the big banks, the small banks, and the Credit Unions particularly when it comes to things like free Checking Accounts. Fewer than 40 of the large banks offer a free Checking Account on a standalone basis. At the other end of the spectrum more than 70 of Credit Unions still do. I noticed at bankrate. Com, your website, that you actually suggest to people to be nice and be polite and maybe you can get some of these fees removed. How well does that actually work . What we have seen is that Branch Managers in many cases have greater discretion than they have had in the past to retain customers but here is the thingyou have to realize are you the type of customer they are likely to retain . If all you have is a Checking Account and you never keep more than 300 in it, they may show you the door. On the other hand, if you are somebody who has large balances, you have multiple products and other lines of business with the bank, you are exactly the type of customer they want to retain and theyre not gonna let you run out the door because of one ancillary fee. Thats the type of instance where they would waive it. So true. Ive actually seen that in practice because i love my bankers. You did talk about free checking a little bit earlier. Whats the latest on that . Well we have seen a sharp decline in the past few years but i think the decline has really run its course. They really moderated this year. We didnt see much change relative to the big changes wed seen over the past couple of years. I dont think youre gonna see necessarily a sea change in that Going Forward but as consumers understand free Checking Accounts are still out there. You have to shop around for them and in many cases, just because your bank charges a fee doesnt mean youre gonna get stuck with a fee because many of them will waive it based upon other accounts or balances you have with the bank. Thank you greg. Greg mcbride of bankrate. Com. Thank you angie. Coming up. One trader is feeling the need for speed as he gets bullish on an auto stock. And next. Bill moller explores the return of the shopping mall. Stay with us. Remember when the economy was falling into recession how shopping malls and companies that owned lots of malls were in real trouble. Dont look now, but things have changed markedly. New data show that americas big shopping malls are enjoying a bit of a post recession boom. Brigid sweeney write about this for crains. Is this simply because the economy has been improving and Consumer Spending is amped up . That is certainly part of it. As we probably all know, the story since the recession has been that the high end has recovered very well and that discounters have recovered very well. And that is particularly true in malls. The big fortress high end malls. Theyve gotten a lot of high end tenants. People are willing to spend again and thats certainly making them experience a kind of nice resurgence. What metrics do you look at . How much of the growth are they seeing . The real concrete ones that we can look at are the 9 biggest publicly traded mall reits. Real Estate Investment trusts that own malls. Exactly. The big mall owners in the country. They have to report their occupancy. And the average occupancy of the 9 largest ones currently stands at 93 percent which is nearly an all time high. Some of them are as high 99 leased which is pretty remarkable. And foot traffic too . Spending . Those are all on the up and up . Well there is a catchso foot traffic is actually down and will be down for the Holiday Season according to shopper trac which internationally tracks people in malls everywhere. They are projecting that foot traffic will be down about a percentage and a half this Holiday Season, even as people spend more. Which shows that while people still go to malls, especially fancy malls with Fun Entertainment and cool stores and cool restaurants, they are spending online. So that trend is continuing. What does this bode for the long term . It clearly shows that mall owners and operators have to kind of reinvigorate their properties putting a lot more restaurant options, entertainment options, options so that people come to the malls not just to buy a new flat screen tv or to buy a new skirt but to really have an experience with their friends. Youll see that all the big malls across the country are certainly doing that. Cause theyre finding that internet trend. Brigid sweeney from crains, thanks so much. Thanks bill shoppers in cyber space set a new record on cyber monday by clicking up 2. 2 billion dollars in sales. Online shoppers spent 21 more this year compared to a year ago. Nearly 20 of sales were made using mobile devices. Just ahead why one trader says ford stock has more fuel in the tank. Chart talk is next. Just ahead why one trader says ford stock has more fuel in the tank. Chart talk is next. And theres 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. Time now for chart talk and daniel stecich of Athena Advisors joins us this morning. Good morning to you daniel. Good morning. You are taking us right to the automakers with ford. This is a stock that you are actively trading. What do you like in this chart . If you look at ford its near the high of the year, i think its been up near 18. Its come off a little bit here on autosales that were strong but not as strong as they expect. But if you dissect that number and go into it youll see that fords f150 section did really well. It was one of their bestsellers and thats a high profit margin vehicle for ford. And if i compare ford to gm, ford has a pe of about 1155. Gm has a pe of about 15 and there is no way in the world gm should have any higher pe than ford does. So either ones coming down or the other ones coming upand i think ford is going up. How far up . What would be your price target and would you have a stop involved in this trade . I would look at ford at least up to 21 by the end of the year. With most stocks i have a physical stop in there. This one i only have a mental stop because it tends to jump around a little bit. If it should get down to that low 15 level im gonna have to start paying attention to it and decide whether or not i want to get out of the position. Sounds like you are bullish on that stock. Moving now to oil. Oil jumped yesterday. What is that telling you . Oil i think is a function of when the fed said or when the talk was that the fed may taper, people are believing that economy is stronger and thats why the fed would taper. So i think oil is gonna be tied to the economic numbers we have. Stronger economic numbers are going to drive that price up a little bit. The ism number came out strong. It was one of the strongest weve seen in a long long time. We have Non Manufacturing ism later and we also have the employment on friday so if those last two legs of it come out strong i think we could see oil make a run toward the 97, 98 level and continue to be strong. Thank you for coming on the show today daniel. Happy to be here. Thank you. Thats a wrap for today. Coming up tomorrow on the show its movies and money. Find out which films set new records last weekend and why hollywood is holding its fire this weekend. From all of us at first business, have a wonderful wednesday. Woman the following is a paid presentation for the nuwave precision induction cooktop, brought to you by the makers of the numberoneselling nuwave oven. Announcer when you turn on your cooktop, do you really know what the temperature is . No youre just guessing. Are you too busy to watch what youre cooking . Tired of all that burnt food going to waste . Worried about your kids getting burned or a loved one starting a fire in the kitchen . Well, those problems are a thing of the past. Introducing the revolutionary precision induction cooktop from nuwave, the leader in portable