day they don't celebrate. hasn't for years. >> capitalist must trade today. and in fact, they are trading and trying to get the major averages back in positive territory right now. the dow down 17 points. been another one of those days we don't see a lot of volatility and talking with jeremy siegel on where he sees stocks going. he is one of the most bullish analysts out there, agretszively moving his targets higher and higher. he said dow 18,000 early on this year and looking dicey early in october. and now he says a real shot to hit that by the end of the year and his thoughts on the market and from there. >> the fallout of president obama's push to regulate the internet, it continues at a fast and furious pace. question is when's better for consumers? government regulated internet or one dictated by free market forces? bill, down here, as well, the stock exchange with a moment of silence for veterans day. anyway. yes. >> indeed. by the way, speaking of veterans day, a story to make your blood boil. it did ours. enlisted men and women are the prime targets of predatory lenders. we have the facts and tell you what's going on and what's being done to put an end to this despicable practice coming up. dow off by about 18 points. slightly below the 17,600 level. and for the nasdaq, at least 14-year high. it's managing to stay in the green. see if that continues heading into the close of the session. we have been in the red now pretty much since about midday. to what extent that reflects perhaps geo political concerns back to the fore, israel and that sort of thing. >> all right. talk about it today. amy wu back with us. joe heater. mike piqein. peter anderson. rick santelli has the day off because the bond market's closed. >> that he does. >> that's nice. amy, yesterday we were talking about what is going to be the next catalyst for this market and the direction. when's the options market signaling right now? what are traders expecting? big up, big down? nothing? what are you hearing? >> i hate to say it but it's a whole lot of nothing right now. the biggest catalyst is the opec meeting and you would think that we would see kind of something priced into volatility. the fact it falls on thanksgiving day is part of the reason that you really don't see much priced in. what i think is interesting is when things like this happen, i think it catches the market by surprise so that half day friday, watch out for it. the volatility markets haven't priced in major moves and might need to. >> black friday could be interesting. >> it will be. we promise. we have an interesting day planned, yes. >> joe, to that point and of paul made in the journal this morning, that already has people talking about a santa claus rally. are you anticipating this? is it already priced in at this point? >> no. i think equity prices continue to go higher, whether it's the santa claus rally, whether we just call it the economic data points moving forward. we are very bullish on equities for the remainder of 2014. >> how bullish? >> we think easily cross over the 18,000 mark for the dow. >> that point, i don't want to too glib here, only 400 points away. >> well, i know. earlier in the year, though, that looked like a long, long shot. so we think it will be up at least that high or higher so that another 4% or 5% on the dow before the end of the year. >> okay. >> peter, where are you putting money to work right now or are you? >> oh yes. you know, i know that october was painful for a lot of us with that v-shaped recovery. boy, if you had courage enough to get in on that dip, you were well rewarded and -- >> were you? >> yes, yes. you know, new money coming in. we're absolutely buying the same positions that we had, you know, starting the third quarter. so we're optimistic. i don't know about santa claus if he's going to be coming this year but i do think that -- >> we hope he's coming. >> yeah. i don't know if he's going to bring us any presents, though. if we've been good or bad. i do think that this year will end positively. all kidding aside. you know, one thing i did want to mention, i'm not sure if we have a lot of coverage on this, kelly, but do you recall that the fed conducted a survey. i thought this was surprising. a fed conducted a survey of primary 22 dealers of the treasury market and asked them, if we raise rates soon, when's the chance that we'll have to actually go back and lower them to zero? and they came back with a 20% probability that that might happen. to me, that means that the fed is very uncertain about the next action to take and if anything they're going to be very cautious and i'm pushing my estimate out way to the end of next year for them to raise rates. based on data like that that we're getting now as to the way the fed is thinking of things. >> okay. all right. we have some breaking news here. mike, we'll get to you a moment. kayla joins us with news on the in addition's biggest banks. kayla? >> that foreign exchange issue we have been talking about for weeks for the banks looks to be coming to a head tomorrow. at least a partial head. the financial conduct authority in the united kingdom expected to settle charges of currency manipulation of six banks and according to sources saying that the deal upwards of $1.5 billion. of course, there's currency fluctuations there and waiting on that final deal. also, a settlement of some banks and certain u.s. authorities are expected to be announced at the same time. that deal is expected to be brought by the comptroller of the currency and the cftc and fine banks about $300 apiece my sources say but it is unclear how many banks will participate in the u.s. settlement. some boards of directors meeting this afternoon and evening may choose not to participate. one reason for that, of course, parallel investigations at the department of justice ongoing and portend large settlements and could wait and see what the evidence is and go to trial. bank of america, citigroup, forced to revive third quarter earnings due to the rising cost of the issues. deutsche banc, jpmorgan set aside for the issue and more information tomorrow and it will be early i'm told that it will come out 1:00 a.m. eastern time, 6:00 a.m. local time in london and led by the fca. back the you. >> stay right there if you would. let's get reaction. mike, are you invested in the financials here? is this priced in? >> you know, kelly, we are underweight financials. clouds never part for them, do they? until there's visibility, the coast is clear from a regulatory point of view, i think investors are wise to underweight financials because we don't know when's coming. >> kayla, so many of the banks put aside so much money in reserves for legal, what was expected to be some high legal fees and paid and now they underestimated how much that is. are we near the end of the process do you think? >> bill, you can't really ever say that we are getting near the end of the process. there seem to be another issue every single day that we talk about the banks and interestingly, last week, when you guys had anton on the show, he was talking about the idea that maybe banks can no longer report x-items and legal be an item. maybe legal needs part of the reporting line every single quarter and they need to do a better job forecasting of what exactly will be and not just have this black box of reserves that is very little disclosure around it and ends up being very expensive. >> i was going to ask for a look at how they're trading. there you just saw -- putting it back on the screen. all down less than 1% indicating, again, that this is largely priced in. underperformance we have seen. they have been healthy lately and reminds me this morning. i don't know, joe, if you want to weigh in on this. there was a downgrade to jpmorgan because of the interest rate environment. what is your view on the banks here? >> well, i do agree from the standpoint that it just always seems like there's one more thing and they're about to turn the corner. and then there's another issue that pops up again. so we also have underweighted in the financial sector because of the uncertainty surrounding this area. >> peter, i bet the same with you, especially if you're looking at a delay in the raising of interest rates by the fed because that traditionally would be a good thing for the financials out there. if they keep delaying that, tougher to make money in the environment. >> that's right. net interest margins, the thing we all look at would be under pressure but i think it's important to highlight there's a distinction. when we broadly categorize financials we mostly think of banks but there's many other types of xaenl that is are in that area. >> sure. >> let's just mention two. card tronnics making atms and veriphones. >> that's a point. everybody, thank you. kayla, thank you very much. it's early hours or late depending on if the news hits at 1:00 a.m. eastern time. >> that's only 6:00 a.m. london time. they're up early for that, too. >> right. we'll keep an eye on this heading into the close with the dow off 11. the s&p still slightly negative and the nasdaq in the green. all right. charge up the bull. we have jeremy siegel with us. he's been a die hard bull for a few years now but does he think the s&p will go higher highs next year? jeremy speaking with us exclusively next here. >> also ahead, general electric updating the compensation plan doesn't look like he's going anywhere any time soon. still someone says he needs to step up to keep the job. both sides of his future and what happens to ge shares. don't go anywhere. how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. toasty or frosty? exactly the way you want it ... until boom, it's bedtime! your mattress is a battleground of thwarted desire. enter the sleep number bed. right now save $400 on the c4 mattress set. he's the softy. his sleep number setting is 35. you're the rock, at 60. silent night not so silent? elk bellow sleep number's even got an adjustment for that. give the gift of amazing sleep, only at a sleep number store. where you'll find our lowest price ever on the c4 queen mattress plus 36-month financing. know better sleep with sleep number. welcome back. wild year for the market. the next guest bullish and now more confident that 18,000 is in the cards before the ball drops on new year's eve. >> with us now, professor of finance jeremy siegel. come on. admit it. you were having second thoughts in october about that call? >> bottom of that ebola scare, i thought it might be a couple more months than end of the year to get to 18,000. once that was under control, it bounced back so, no. i'm confident as i did last december saying it was going to be 18,000. so yeah. i did hesitate for a moment there. >> what did you make of that bounce? >> saying 50/50. this is not a slam dunk. nothing with the market is ever a slam dunk. >> what did you make of that -- >> pretty overwhelming that the next six, seven weeks bring us beyond 18,000 on the dow. >> what did you make of that bounce? i mean, this market for the last five years has been a hallmark of the rally, has been buying on the dip and that was the mother of all dips that people bought at the time. what did you make of that co comeback? >> i remember talking to joe kerrnan and we said everyone is waiting for a 10% correction. it won't make there. what's interesting is intraday top to intraday bottom in october for the s&p was 9.9% drop. so if you were waiting for 10, you didn't pull the trigger, that's what the market does to you all the time. all those people waiting for that correction to get in don't get in and the mark keeps on grinding. we'll have a correction. it is part of the dynamic market situation but it's always dangerous to say, i'm going to wait until it happens before i invest in the market. >> this summer, jeremy, i remember you saying it could go to 19,000 or 20,000. if we take 18,000 as a given, just for the sake of the argument, what happens? do things start getting too good for your liking? >> too good? >> well, we are much closer to full market. last five and a half years since the bottom of this dreadful bear market. i don't think we're quite at full value. i think we're slightly undervalued. i'm calling for the end of next year or what i think the true value of the dow would be 19,000 and 19,500. closer here, you know, the area of uncertainty grows. it could be a flat year of 18,000. we haven't had a flat year for a listening time. or it could rise to that 20,000, 21,000. if we get good economic growth next year, you know, 3% plus -- >> that would still be supportive? >> we could see a lot of people finally saying, hey, you know what? i've become a believer again in the market. >> the question i guess i have goes to the scenario next year. if the growth is stronger in and the fed responds to that and employment is back towards full employment, would that be a problem for the market? is it ultimately pro-cyclical and depend on inflation and why do you think inflation isn't going anywhere? >> well, first of all, i mean, you bring up something important. i think the fed raises interest rates next year. maybe sooner rather than later because i think there's going to be some fairly strong economic growth. and we can't keep on having 200,000-plus growth in employment. our labor force isn't growing as much so therefore that does squeeze the unemployment rate. when you do the historical research, bull markets do not end when the fed starts raising rates. years later before we finally get -- it's at the final stages, not the initial stages, of raising rate that is we have to worry about the end of the bull market. so my belief is they're only going to raise them with strong economic growth. that's great for earnings. and, hey. i'm not afraid of a 1%, even a 2% fed funds rates. i'm old enough to have lived through 20% fed fund rates and seems very, very low to me. >> what about kelly's question of inflation? why it's not near the fed's targets right now. they're hoped-for targets. >> and the strong dollar and the lower -- you're right. >> right. >> i mean, that could keep them down at what we have is a little bit -- we have a labor market tightening. not yet producing any inflation but we're looking at it. we have commodity prices going down. i see that. and we do have some doves there that are making their voices more strongly heard at the fed. so, you know, will we have to see the whites of the eye of the inflation or will at 5.5% the fed finally saying, hey, if we don't start normalizing rates, given the lag in monetary policy, we may be a little bit too late? that's the struggle that we're going to see with the fed but i think with improvement in the economic activity we'll get a stabilization of the commodity prices and that will take away some of these deflationary fears in the market. >> well, then, jeremy, just going back to your point about equities, final question simply this. when people start to talk about valuation and whether things are frothy, what do you say to them? what are the fundamentals to go to 19,500 next year? >> well, i believe that interest rates are going to be generally lower than we have experienced them in the post-war period. it's about the new neutral. 2% short run, maybe 3, 3.5% run on the 10-year. in that sort of an interest rate environment, it's very easy to see stocks trading at 18, 19, even 20 times earnings would not be expensive in that environment. so, my feeling, that's one reason i'm not worried about a frothy market and, oh, we're over the 140-year average of 15 pe because in a low interest rate environment stocks deserve a higher valuation and i think we're going to be moving towards that through 2015. >> all right. jeremy siegel, thank you. >> thank you. >> thank you much. >> yep. so still bullish. i didn't hear the sound of him pounding the table. as he was telling us. >> wait for the santa claus rally. >> we'll see. down 14 points right now. expect some quiet volume. veterans day. the bond market is closed. no direction from that sector. the dow's down 14. the nasdaq up 3. s&p down a fraction right now. >> never short a dull market. >> amen. >> seems to be further evidence of that today. >> you know what they say in westerns? sure is quiet. yeah. too quiet. go ahead. next. >> no. i'm writing a piece in my head already. general electric shares, meanwhile, lagging the s&p 500 over the past year. somebody here said that jeff immelt should be held accountable and moving how it pays him. and later, ford is taking a big gamble with the aluminum f-series pickup trucks. will they like the change from steel and keep it the best selling in america? we'll have a special report from dearborn, michigan. stay tuned. ...the getaway vehicle! for all the confidence you need. td ameritrade. you got this. [annit's working forny. new york state. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. go to startup.ny.gov. 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. welcome back. with the dow down 16. dominic chu stands to round up the movers for us. >> we'll start with the homebuilders and that trade. all of them pretty much higher after dr horton with comments of more than a 20% increase in net sales orders in october. also, regeneron and sanofi. topper formers in the s&p 500, up by 3%. zynga higher after being upgraded to a buy rating from a hold citing the fast-growing mobile business and the popularity of words with friends. and then there's darden restaurants gaining ground after being upgraded of parent of olive garden citing the revamping of its menu offering and we'll end with groupon share advancing after a bullish shares outlook today and stock up by 5.5%. bill, kelly, on the day's trade. back over to you guys. >> thank you very much. we're talking general electric right now. the company unveiled a new compensation plan for ceo jeff immelt and those unhappy with the long-term performance of ge stock calling for a change in the executive sweet and announcing a new plan, doesn't look like that's any time soon. >> well, after outperforming the dow last year ge had a disappointing 2014 down 6% and the overall market down 6%. will he reap the compensation three years from now? joining us is brian langenberg and david nelson. so, welcome to you both. david, this comp plan tied to two things, increasing cash flow an increasing the operating margin. so, i mean, especially with regards to the margins, goals immelt has already. are they achievable? will that finally quiet the questions about the leadership? >> even if they are, i think it's pretty tough to defend jeff immelt given the performance of the stock. he's been there almost a decade and a half. now, look, let's start off by saying first no one could have saved ge from the crash of the dotcom bubble after jack welch left. the bubbled stock as much as any and he was dealt a bad hand and here we are a decade and a half later and investors voted. the stock price says a lot. investors said this stock is not worth a lot. look at an income statement. it is not growing. that's the bottom line here. that's really the bottom line. flat lined over the last three years. i think it is time for new leadership. >> brian, you support jeff in the tenure there at ge and isn't it interesting they don't tie the compensation to the stock price? they chose other metrics to tie it to. >> right. well, first of all, david raised some very good points and just rolling back in time the first time cnbc asked me what i thought of jeff immelt was 2001. he just got the job. i told phil at the time, i said we'll know in ten years. he has better hair than jack welch did taking over the jb. >> yes. >> so, well, there you go. i didn't say it was a high bar. just saying he surpassed and david from the start raises very good points. i'll say this. when jeff took over the company, there's the stock and what do you do with it? you don't control the market. long term, it's a weighing machine. putting stock price aside for a minute, jeff did some very good things early on. jack welch had that company overearning and underinvesting for the future and those are things he did well, figuring out what to go get and david raised another good point. did they deliver on the results? they overpaid for a lot of deals and they haven't delivered numbers. i do think at this juncture that jeff has a chance to go out as a hero. also, his signature deal, one way or the other. and -- >> how does he go out a hero when the stock hit, what, 60 back in 2001? >> right. >> around the time he took over and it has never gone back to that level by any means. i mean, if we're going to judge any ceo by the stock price, you know, why hasn't there been more of a cry about the tenure of jeff immelt? where where they in all of this? >> i couldn't agree more. >> i'm going to answer -- >> let me ask you a question. >> first i'm going to answer his question. >> all right. >> first of all, i won't defend everything jeff's done. i made clear some mistakes were made. number two, i'll finish my statement and come back. he can go out a hero because he will have improved, bought a great asset and delivered numbers. if he does that. frankly, the market doesn't look back that long. going back to 2001, jeff took over the company and probably should have traded about 35 or 40. >> okay. we'll give you that but it's been 13 years now since he took over. >> good. >> now i have to jump in here right now. i'm not here to defend cesar at this point. >> that's fine. >> he had big missteps along the way. ge was pushing fourth sbeer mortgage, commercial properties and neither caused the death of the company if 2008. >> i agree. >> everybody gets religion facing death's door and, you know -- >> yeah. >> i don't know how you defend the ten neuroin this whole time. i think it is time for new leadership, time to break up this gigantic company because there's some really excellent divisions here that could really grow on their own and, frankly, one that is don't maybe we didn't want to invest in them anyways. >> brian, you seem to agree with david says but you still support jeff immelt. why is that? >> a couple of aspects to this, right? first of all, we agree on a lot of points. number two, it is really easy to throw the stones. david is right in this aspect. you know, they spent $20 million or $30 million than they needed to. he is right about that. and then, frankly, 2008, 2009, there was a question should this guy be replaced because that conversation was going on. >> is that not a truth, john? is that not enough right there? you're making my case. >> that's brian. >> i said there was a debate. >> i'm sorry. >> to finish the point. what do you do now? are they doing the right strategies now? will they do it? i think they have religion. grind out the back office, the excess costs of deals never integrated. >> all right. from here on, brian, we have to go here. where does the stock go then? >> got it. i don't think it's particularly attractive. near term. $28 target. a buy only it. that's kind of a marketish kind of buy and assuming they hit the numbers, they reported earnings of 207 in 2007. they're not going to be there but 1.87 next year. the part of that is end markets. i would point to a couple of things. regulation, demand management. you know, greater efficiency in the united states. and globally around energy. but you get this company back to prior peak earnings or better, the dividend back, you put a 3% dividend yield on that, it could be up 50% over 3 years. >> that's a dream. frankly -- i'm guessing you're not buying it. >> i'm not buying it. i don't think anybody can come in and really deal with the company in its present form. it is time to do something very dramatic here and it's probably needs a break-up of this company. >> brian, what do you mean a market-y kind of buy, by the way? >> basically on the sell side, you don't just flip the way you would buy side running a long-short portfolio. typically a tock to do as well as the market or better, you have to buy in it, you get religion. >> down year to diet. >> that's fascinating. thank you for explaining that. >> really, in the interest of fairness, i have a couple shares in my 401(k) of ge. >> you been around here since the ge days. >> a couple days. been very patient and many of us. brian, thank you. david, as always. >> thank you for being candid. dow still off by 18. s&p's negative. nasdaq holding on to a slight positive. as mentioned, bond market closed for veterans day. ice, ice baby. it says here. an arctic blast putting two thirds of the country in a deep freeze this week. the latest forecast of the weather channel when we come back. also ahead, reaction to the cold weather from the energy pits. live to the my mention and we'll be right back. ♪ for tapping into a wealth of experience... for access to one of the top wealth management firms in the country... for a team of financial professionals who provide customized solutions... for all of your wealth management and retirement goals, discover how pnc wealth management can help you achieve. visit pnc.com/wealthsolutions to find out more. ameriprise asked people a simple question: in retirement, will you outlive your money? uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the real answers you need. well, knowing gives you confidence. start building your confident retirement today. all of us around here love "game of thrones" and if you know winter is coming -- >> i haven't seen it. >> what? >> jim cantore probably has and has the latest forecast. hi, jim. >> yeah. looks like three arctic outbreaks over ten days and each one has a chance for a little bit of a snow pack and going to act as a refrigerator and let's deal with the first one. most shocking to us as it's been today for folks in oklahoma city, kansas city, and chicago, look at the winds in oklahoma city. 28 miles per hour. temperatures are dropping off. windchills in the 30s. feels brutal. look at denver. 3. they dropped 40 degrees yesterday in 4 hours in denver. that's a frontal passage, ladies and gentlemen. very, very cold windchills and driving to the east. biggest changes of oklahoma city, kansas city and chicago and when you drop 30 degrees, you know, that's a whole different closet for most people. that's winter clothes, gloves, hats. this is heading to the east. because of this big trough and pattern, we have an omega block. with a ridge over northwest pacific, it allows the air to come down and basically right down into the united states and building up a snow pack here, each one of the cold outbreaks is colder and colder. heading to california, great. east of the rockies, even down into florida, you will feel this first of three arctic surges over the next several days. heading into the weekend, low pressure in the gulf of mexico. starts to scoot up through georgia. this model says all rain at least this time of the year. the next model says same scenario. moisture in the gulf. a cold rain. heading up the east coast. maybe a little bit of snow on the backside. what we have to watch out with this pattern, guys, if we get these successive cold air masses and getting snow building up over the plains, guess what. each one is colder and colder and only november. could be a long winter. >> oh boy. you love this kind of stuff, right, jim? >> maybe a little bit. >> weather channel's version of a stock market rally. >> good for business, yes. >> yes, indeed. maybe not business in minnesota. thank you very much, jim cantore. great to see you this afternoon. my brother's out there freezing. >> minnesota? >> yeah. but it's especially cold, especially early. even for minnesota. and it's coming our way. >> you would think this weather would have natural gas prices going higher. we talked about it yesterday. lower yesterday and today. >> jackie deangelis, is this all just weather or other factors in play? >> look, guys. there are a lot of other factors in play. no disrespect to jim cantore. i'm sure he's accurate about the forecast but traders said we're talking about this for days and got the prices up do $4.50 from $3.50 so that move is made and a lot of this is priced in already. and also, sometimes weather channel and other weather forecasters can sort of overdo the forecast before it actually comes. we have seen that before so we actually have hearing from the pits that traders want do see how cold it is going to be before they bid this trade up. key thing to remember as we approach the late fall and the winter, this is when we can determine the direction of the trade. if we go to the downside and break through 411, we are in trouble. going lower. breaking through 446 to the upside, we are going higher. we hit over $6 last winter in february so it's interesting to see. back to you. >> jackie d. going after -- >> i think we need to set up a weather brawl. >> you and cantore in a smackdown. thanks very much. >> sure. >> see you later. we have breaking news. dom? >> we are watching shares of zoetis. sharply higher move on heavier than average volume. activist investor bill ackman with a $2 billion stake in the company and could push the animal health company to sell itself. the shares again you can see there up by 6%. according to the dow jones report, the company has partnered with another hedge fund run by a former protege of bill ackman's and these hedge funds built up what's reported to be a $2 billion stake that would be about a 10% stake overall in the company. so certainly the shares ones to watch heading towards the closing bell. back over to you. >> up, up, up 6%. that's why. thank you, dom. see you later. 18 minutes left in the trading session here. the dow, veterans day, bond markets closed. not a lot of volatility in the market. >> if the s&p closed positive, i think that would be another record. we have got to have had more than 40 of them this year. practically one a week except for the pullback in october. we have about as bill mentioned 18 minutes. ford's new f-150 pickup off assembly lines into showrooms. are they taking an unnecessary gamble switching from steel? 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>> impressive looking truck, kelly. this is a big bet by ford but ford believes transitioning of a steel to an aluminum panel truck pays off and raising the stick earl prices on these new models between 2% and 8% depending on the trim level and pumping $300 million into this dearborn truck plant. in fact, as they transition from steel to aluminum the ceo says the transition is smoother than he expected. >> actually, the installation of the body shop went a lot smoother than i expected and we're exactly what we expect it to be on that ramp-up curve of production and where we wanted to be. >> reporter: and this is how important the f-series is to ford. on average ford makes a profit of $8,000 to $10,000 per truck and it's about 30% of ford's u.s. sales. the fact that they have a high customer loyalty rate, one thing that's going in ford's favor as the truck starts to roll into showrooms, guys, keep in mind it will start trickling in over the next month but really won't see it fully in all of the showrooms until well into next year. >> phil, thanks. let's talk about it. you think this is a good strategy, don't you? >> well, i think that this is going to position ford for a rebound year in 2015. so this year they had a lousy up front cost. had to build the plants, shut down plants. inefficient of production and in 2015 they start getting the sales that they've been preparing for. >> i'm curious it reflects the strategy of oil at 100 and perhaps less sense today. >> well, it does make sense. >> kelly -- >> i'm sorry. go ahead, phil. >> well, i was just going to say, kelly, may be falling but the cafe standards are not. they're still set at 64.5 miles a gallon by 2025. they have to meet that standard some point in the future. they will have to increase the fuel economy of their entire fleet. by the way, if the aluminum works here, look for them to expand it into other models. >> yes. so i was going to say, i agree with phil. and right now, you know, it's less of a benefit coming to the cost for the buyers because gas is cheaper and may not stay that way. you have the pressure of the fracking and that's been helping the prices but basically there's more, ability to deliver best in class, payloads and the like. and that's something that people want to buy even if they don't get the full benefit they thought they might from lower gas prices or higher prices. >> phil, is anybody expressing misgivings? face it, the f-150 is a huge seller for ford. it is not broken. they're changing it. is there any feeling that there might be misgivings of loyal customers? >> reporter: bill, most believe that it will be successful but i have a few friends that say in the back of their minds they're wondering how it will hold up over three or four years. be honest. we go into next year and won't hear reports of recalls or problems with the aluminum or repairs going quickly then that's going to go away. nobody will be sitting talking about aluminum two years from now. >> i wonder how much lighter is the new truck. i guess you're not driving it necessarily but how much different does it feel? >> it doesn't. 700 pounds lighter. i have drib it offroad and on the highway. it's quieter. that's one of the changes that's there. we need to see how it holds up with can tractors, farmers, middle america over a couple of years. if it holds up, i don't think anybody's talking about the aluminum issue in a couple of years. >> absolutely. fair point. that cafe standard, they got to do something. all manufacture earls do. thank you. great to see you this afternoon, as well. f-150 undergoes a remake and we have got about ten minutes into the close. the dow trying to close positive. that would be another record i believe. the nasdaq has been in the green for most of the session. >> art cashin said the close looks negatively jibl. we have names and numbers to keep an eye on when we come back. stay tuned. ready anytime the moment is right. ready you can be more confident in your ability to be ready. and the same cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial. [annit's working forny. new york state. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. go to startup.ny.gov. we have virtually an unchanged market. the dow down 2 points. the s&p up a fraction. nasdaq up 7 with 7 minutes left in the day. joini everybody's still expecting, what? 18,000 by the end of the year on the dow and 2220 on the s&p. oliver? >> we're on track of earnings been good and we need a push and that little bit of a push could come later this week when european data isn't as bad as everybody expects it to be. there's pessimism built in. >> what if it is? >> we chug along. great day today where investors taken a pause after volatility over the last month and a half and this is an encouraging sign and generally speaking we expect things to drift higher. >> there are real concerns. >> 2 200 might be high. >> there's concerns of the german economy. >> clearly what we have to remember is coming off a period of a lot of concerns. ecb an d russia/ukraine and momentum in china. the news at the margin is good. take japan and so a lot of the worries holding this market back, particularly during october, are slowly diminishing. i think that's where we'll get that end of year lift. >> very quickly. single best idea right now? >> broad based s&p 500. >> keep it -- >> beta exposure right now. >> large cap domestic and look jefr seas for good opportunities next yore. >> eventually, you would think, right? thank you, guys. >> thank you. >> thank you for joining us. we'll take a break and come back for the closing countdown. after the bell, veterans serving the country and now they've become tar getds of predatory lenders. an outrageous story only here on cnbc. stay tuned for that coming up. when diet and exercise aren't enough, adding crestor lowers bad cholesterol up to 55%. yeah! crestor is not for people with liver disease or women who are nursing, pregnant, or may become pregnant. tell your doctor all medicines you take. call your doctor if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine, or yellowing of skin or eyes. these could be signs of serious side effects. are you down with crestor? ask your doctor about crestor. all right. heading toward the close. quiet day. no two ways of it. up in the morning. down in the afternoon. finishing with a five-point decline right now. tomorrow, though, bob and i just talking about, macy's and jcpenney and both lower, an important indicator of where we are going into the shopping season. >> look, the unemployment rate's down to 5.8%. the economy is better. consumer confidence is high. the stocks have lagged the overall market and the problem is wage growth. it is not there. we talked about this endlessly here. we need to see better wage growth and what people are looking for right now. >> there's the difference between statistical measures of the economy and the real world measures of the economy and people actually live. things aren't as good as they were. >> i get e-mails. out here in ohio or missouri, we don't feel that way. there's sometimes a disconnect between the stock market and companies who have been able to increase their earnings by just cost cutting. we talk about it here but it's a problem perception-wise here. >> thank you, bob. >> yep. >> that's it for the first hour. we do thank all those who have served their country honorably for the great service. stay tuned now. second hour. carol roth regalling us for her picks of nfl fantasy football. we'll see you tomorrow. thank you, bill. welcome to "the closing bell," everybody. i'm kelly evans. what looks like going out here record highs. markets didn't move much and probably just enough to put another notch in the belt. 17,615 where we stand on the dow. s&p added a point to 2039. nasdaq up and equities only game in town pretty much. let's bring in the panel and get right to it. yes, carol roth. we'll talk about football thing in a second. sharon epperson is here. welcome. tim seymour. kenny will join us finishing on the floor in just a moment. so listen, tim. i want to start with you on the market here. any main messages today? anything that people go home and put their dollars to work on? >> one thing to be clear, you talk about equity's the only game in town but we have had days where equities suffered with volatility, what we got out of last week between the bank of japan, the ecb an enthe fed and payroll numbers, end of this week, there's very little until friday. the dollar in this range, you can see a lot of actually risk assets continue to rally and going into the year end, there's asset that is we do think have underperformed and talking about homebuilders today. >> oh yeah. >> we think emerging markets are good if the dollar is under control. a lack of volatility is good for markets. be careful. it's just around the corner. >> you know, sharon, i'm thinking about rule off the top last hour saying the big potential to see for now is opec meeting and that's something that's giving data of a couple weeks ago. >> brent crude down a percentage today and that's something that a lot of traders paying attention to even though the u.s. oil price was flat. we're looking at very depressed prices for oil and gasoline for the consumer down 30 cents a gallon gasoline in the last month. >> huge move. anybody saying they don't fall as much as oil does -- >> exactly. here's the caveat. natural gas. did big run-up in that because of the cold weather that we're going to have, the energy department expecting consumers paying less to heat their homes with natural gas and consumption lower and now forecasters saying, wait a minute. it's going to be pretty cold and we could see that really eat into a lot of consumers' pockets. >> kenny, your heating bill going up? >> i have oil. >> there you go. >> how happy am i? >> welcome, kenny. off the floor. i mean, what messages can you bring us from the stock market today? >> today, you know, just because of the day that it was. holiday. banks are closed. very little action. people looking forward to retail sales on friday. looking forward to italian growth number coming out on friday. figure out whether or not italy is back, entered a recession. if italy entered a recession, then it brings up the mario drag my again and whatever it takes and then investors and global investors waiting to see if he'll stop talking and do something or continue to talk. i think if he continues to talk, they have to reprice risk assets. >> saying the same thing in chicago about the chicago bears. are they going to actually finally do something? interesting thing that jumps out to me here, i like to go back to tim on this, the nasdaq. we have been talking a lot about the s&p and the dow and hitting these new highs and the nasdaq starting to creep up towards that all-time high level from back, what was it? march of 2000. there's some sort of psychology, hearing chatter of people being concerned about that index going and hitting that level? because we all know it happened right after it hit that level in 2000. >> people are looking to technology as a place to parka pa capacity. that's where you're getting the earnings growth and people looking for some performance in the last six weeks of the year feel pretty comfortable that technology can give that to you. we focus on "fast money" of high multiple stocks that disappointed, been the ones that have been the stories we have been talking about and that includes facebook and twitter on some level. i think it's a mixed reaction out there. big cap tech largely is very value laden with the growth and good dividends and will outperform in the year end. >> i actually think investors are waiting for nasdaq to in fact make a new high. everyone else has. nasdaq is trailing and investors wondering why. >> so you think that's a bullish -- >> i think it's bullish. >> wow. on that note, let's talk about alibaba. here we're celebrating veterans. china celebrating singles day. one of the biggest shopping events in the world and a special cnbc exclusive david faber is in china inside alibaba headquarters. here's some of his conversation with jack ma this morning. >> you now are bigger in market value than walmart, walmart. what's your reaction to that? >> well, actually, i'm bit nervous. humbled. i think many years ago people say, well, alibaba, terrible company. i know we were not that terrible. i don't dare to watch the stock price. this is -- this is -- this is the other people think who you are. when they think you are good, you have to be sure whether you're really that good. people think you're bad, we have to be clear whether we're really that bd. >> you don't watch it? >> i think let the market take care of themselves. we should watch, take care of the business. >> you are a celebrity in this country. has it changed the way you operate? is it a pain? >> it is a pain, especially forbes. i don't know which magazine said i'm the richest guy of china. this is a great pain. >> so, with us for more is brian hamilton. kenny's chomping at the bit here. when's your problem? >> is this a hallmark holiday? singles day. never heard of it before. >> alibaba holiday. >> apparently. >> they specifically made it up as a way to boost sales at a time when sales were lagging in china. >> don't they go shopping every day? >> they never get anything. you register for the baby shower. you register for the wedding. what do the single people get? they need their shopping day, kenny. >> i was going to say, sharon, here's some stats from no surprise the pr on alibaba saying $9.3 billion u.s. 43% over mobile by the way. two and a half times more than the online revenue for thanksgiving, black friday and cyber monday combined in the u.s. in 2013. so, brian, i feel like i remember back in the day you were a little bit of an alibaba skeptic. are you buying the numbers? >> well, look. her's the bottom line. the revenue right now of the company's sliding or the revenue growth is sliding, kelly. the net margins are positive and terrific in an ipo market overvalued and net profit margin way down. my big contention or concern was with the regulatory process of china and how these companies kind of interact there and it's a good company. i will tell you this. i like this guy jack a lot. he's humble. he has a very realistic view of how to run a company. but in the equity markets, he may have some problems because even though the value is up right now, if his growth rate keeps going down, he's going to be punished on the stock price. >> sharon, what did you make of that interview? >> he is a charismatic ceo and goes a long way for a lot of people and i got across from that that a lot of people think why do i care about this? keep making so much about this. i didn't get in on the ipo. 345 much yule funds own alibaba so you think you may not care, you should. you own it. you could likely have alibaba. whether or not revenue growth is slowing or shooting up, that matters to a lot of retail investors. >> carol? >> i think one of the things to care about are all of the luxury consumer brands selling on alibaba. i'd be watching the margins because to participate in the sales they had to do some pretty deep discounting and looking at the luxury names to see if they're taking a hit margin-wise for the amazing growth and opportunity in china. >> goes back to the whole china story. the other part of a theme following every day here, the drop in commodity prices as the chinese industrial demand is slowing, trying to be a consumption led economy and yet cheap tricks like singles day are seen as a way to encourage that. >> there was a comment that it's a bear market in commodities. he could not be more bearish. obviously must mean it's the bottom of the bear market, right? a turnaround. jump in. >> have we talked enough about the extent to which financial demand of commodities contributed and now ervel's jumping out of the positions and contributing to the decline? when will people understand when's going on? >> i'm not sure that it's -- let's talk about that. if s the decline if prices because there's a global slowdown or because the dollar's getting stronger? why is the dollar stronger? other currencies weaker? there's a very complicated story. >> what do you think? >> i do think that the dollar plays a very important role here and the correlation of a stronger dollar and commodity prices and 20 years and supply side, too, though. we know about that. iron ore, doesn't matter at $75 a ton. prices continue to go lower because the supply is dumped on the market. seeing it across core commodities. looking at disinflation and i prefer to call it that that, it's a mixed bag. for some countries andty xhis, it is a good story. for our country, a very good story. i don't care what people want to do to this. this is a boon to the consumer and fantastic for balance of payment and for china, very good. consumption story in china about liquidity and what you should be buying looking at alibaba. >> brian, do you agree on that point of alibaba? >> no. not really. we have the look at this entity as a singular entity. no question about it. it drives the whole market. the key to the company is can they keep the revenues going up and profit marginless healthy? it was a 14% market. you have a car business. i like his -- hold on a second. i like his style. he knows what his business is. he's very good at running a fundamentally strong business. but i'm looking at revenue, profits and cash flow. they're all good but they're slipping a little bit. >> what were you going to say, tim? >> they have 83% of the online market. they dominate the channels. when's happening for the luxury brand retailers, they need alibaba especially in the smaller cities and regions for a branding channel. this is very important. if you look at the single day sales, a lot came from taiwan, mainland, hong kong and coming globally. this is why this company can continue to grow. it's probably not going to grow as fast but it's interesting here. >> it certainly is. guys, thank you so much for being here. tim seymour is coming up here at 5:00 p.m. asking the ceo of vivint solar why the stock is crushed down almost 20%. let's send it back to dominic chu at headquarters for an earnings alert. >> how about a big stock pop here? fossil to the upside by 11%. the consumer fashion accessories company posting better than expected third quarter results and authorizing a billion dollars stock repurchase program but its fourth quarter earnings guidance might be light. the stock, though, on balance up 11%, 12%. investors like the news ant the stock buyback. for the year, just about flat counting the after market gains right now. a very nice move. a $5.5 billion company and just said they're going to buy back a billion dollars of their own stock. back over to you. >> wow. that's a huge move. it's going to fuel another conversation about the role in this rally. president obama calling for tighter regulation of the internet. we have been doing some reporting and that's next. we want to know whether you think the internet is more or less cheap with more or less regulation? you can weigh in right now. america is on norring the veterans here today. here's manager to make them angry. they're a prime target for predatory lenders. that story is coming up. stay tuned. that's more... shh... i know that's more than 100%. but that's what winners give. now bicycle kick your old 401(k) into an ira. i know, i know. listen, just get td ameritrade's rollover consultants on the horn. they'll guide you through the whole process. it's simple. even she could do it. whatever, janet. for all the confidence you need. td ameritrade. you got this. 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. the holidays can be an especially difficult time. everything's different now. sometimes i feel all alone. christmas used to be my favorite. i just don't expect anything. what if santa can't find me? to help, sleep train is holding a secret santa toy drive. bring your gift to any sleep train, and help keep the spirit of the holidays alive. not everyone can be a foster parent, but anyone can help a foster child. welcome back. what's behind the timing of president obama's call for the federal communication commission to regulate the internet as a utility? >> well, the timing of the announcement raised eyebrows here in washington. a lot of folks wondering why the white house decided to announce this decision as the president was in beijing, china, far summit internationally looking at this through the prism of white house stage craft and image making, there's a web video, a lot of folks saying that might be political in nature. the white house telling us, no, there's no particular reasoning and decided that they had to get it out before the fcc made its decision. i asked this question of michael powell, former chairman of the fcc saying he smelled politics, as well. of course, he is a republican. take a listen. >> it seems to me that it was a surprising decision, a sudden one. you know, there's many who have suggested it's part of a strategy in the wake of the midterm elections to fire up the base, to stoke the wishes of the president's constituency. >> and this did get political very quickly after the president's announcement yesterday. you saw ted cruz tweeting out that he thinks that this could be something like obamacare for the internet. obviously, that's a touchstone on a couple of levels and net neutrality issue is popular with a certain segment of the president's political base an you might see this as one effort by the white house to go out and tell those folks, hey you know something? we are on your side and doing something. the question is when will the results occur here? fcc not expected to make a final decision until well into 2015. >> okay. there's time. thank you. the battle lines drawn on this issue with the consumer firmly in the crosshairs, what would be the better outcome for the people who pay the bills? go to cnbc.com/vote and tell us. do you think the internet is cheaper with more or less regulation? joining us is michael mandell and john simpson. welcome to you both. >> hello. >> michael, i'm glad of your point of view on this one. is it a good move for the consumer for there to be more regulation of the internet? >> let's put this in context first. the internet, the data sector, is booming. has been great for the consumer, been a major driving force for improvements in consumer welfare since the recession. so things are great. it's not like the health care sector. it is not broken. we seem some more regulation and you asked the wrong question here, unfortunately. >> happens a lot. >> it's about whether we get more innovation and the problem is if you have too much regulation, you'll end up slowing down the innovation. obviously, some regulation is needed and you have to give the fcc a big stick but what the president has proposed is -- would have the affect of slowing down the boom basically. >> okay. that's the big deal. john simpson, is he wrong? >> yes. i think he's completely wrong. i mean, the problem is the internet has worked so well and been so innovative because we have operated under the concept of net neutrality where the isps don't act as a gatekeeper. all the data essentially goes over and treated the same way. many of the larger isps want to change to that to be able to have pay as you go for priority. and favor certain content providers. what obama has suggested is that we need to have net neutrality rules in place and the only way to do that is if you reclassify broadband service as a common carrier. >> okay. >> net neutrality rules thrown out by the court until you need this change and reclassification to make it work. >> okay. >> i'm interested in who's impacted the most here. we understand that businesses want these so-called fast lanes and that would be a benefit to many but talking about innovation and where the next wave is going to come from, will it come from schools or colleges and universities? how will they be impacted? who's benefiting the most or losing the most? >> absolutely. the fcc will be in the business of having to sort of have rate hearings about every innovation and the problem is when you have too much government regulation it will slow it down. all the innovation for everyone. you know, the rules that we have been operating under worked really well. we need to sort of give the fcc a big club to penalize bad behavior and you have regulation ahead of time, you force people to get permission. what do you get? you get slower innovation. i think this is pretty much inevitable. >> carol? >> only in this country more regulation to protect us from the beast of more regulation. the big question isps have a monopolies. if anyone cares about an internet, do away with the monopolies. deregulate and then we don't have to have this discussion altogether. >> i don't follow. >> i don't follow that either. >> okay. then let me clarify then. we have some isps with a monopoly. that's what everybody is worried about, the fact they're going to dictate terms. if there was actually a free market and there was competition, the free market would be able to sort this out. this wouldn't be an issue about the consumer getting left behind because someone would come in to fill the void. we are always putting new regulations on top of old regulations instead of repealing the stupid regulations there to begin with. >> john? >> look. the problem is precisely that most of the isps function as monopolies in the local market f. you give them the ability to make a determination over what provider gets through, who has to pay more, it ends up hurting innovation. small, start-up companies can't get the data out to customers. it is not about setting rates. you don't have to give the fcc you should section 2 authority to set rates. nobody wants to do that. that's -- >> that's what it is about. >> no. >> hang on. >> you have a process known as forebearance and put into play the net neutrality rules and not have a rate hearing on how much to charge for an iphone. >> i'm talking about -- >> michael, wait. i also want to draw your attention to the vote right now. we have almost 70% of the viewers saying internet is cheaper with more regulation. >> what is cheaper with more regulation? >> i'm just telling you what the people are saying, michael. what were you going do say? >> what i'm saying is forebearance is process of fcc saying we won't use the powers. think about the political situation. they have the -- you give them the power to regulate rates and any sort of new innovation comes along. what will happen is there will be a big cry for rate hearings. of course there will be. the people that say it's not going to happen are speaking nonsense. this is the way that politics works. >> i think people hear the term net neutrality and they're just -- their eyes glaze over. what they want to know is, if i have netflix and i have my internet right now, will i pay more or less for what obama wants to do. that's what they want to know and nobody -- >> if you allow -- >> but that is the real question. >> if you allow -- >> john, go ahead. >> yeah. if you allow the isps to charge netflix more for their content to get across in a way that consumers can use it, then that's going to raise the cost of netflix and make it up by charging the consumer more. >> if there was competition that wouldn't be the case. and that's the crux of the problem. if there's competition, that wouldn't be the case. and that's why this is a lazy argument once again on the behalf of the american public. we're arguing something and not getting the root of the problem. the root of the problem is a monopoly with the isps. let's address that problem and have some free market competition. >> isn't there -- the market is -- >> to bear on the isps. >> it's the anti-trust law to work better than would net neutrality law. >> okay. >> all right. >> government regulation. >> if you -- >> well, yeah. we have to leave it right there, gentlemen. with a lot to think about. with, by the way, people saying the internet is cheaper with more regulation so carol's shaking her head. thanks to michael mandell and john simpson, as well. they protected us from enemies overseas. what is our government doing to protect veterans from predatory lenders? 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[annit's working forny. new york state. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. go to startup.ny.gov. right! now you're gonna ask for my credit card - - so you can charge me on the down low two weeks later look, credit karma - are you talking to websites again? this website says 'free credit scores'. oh. credit karma! yeah, it's really free. look, you don't even have to put in your credit card information. what?! credit karma. really free credit scores. really. free. credit karma, i love you!. welcome back. today is veterans day. america saluting those that served in uniform but many need more than respect. they need jobs and dominic chu is looking at how wall street is trying to play a role in that. >> during the last week cnbc 25 is a ga la we spoke with howard schultz and talked about the benefit of hiring veterans. there are other companies making a difference. brex el hamilton is on wall street one of those companies and spoke to them about the importance of veterans in the workforce after they've come back from active service and the chairman and founder of that company spoke to us about why hiring vets is good business. >> they've already been vetted. they've already gone through extensive physical and mental training. that's the person you want i tex ensive training. vetted by the government. they have the attributes. they could be good candidates for jobs and a point, kelly, not just about industry wall street veterans teaching the active service veterans about the business. now some of these veterans from active military service have learned the business so well they're passing that knowledge on to their fellow veterans from service and active military service so it's a virtuous cycle. take a listen to this. >> i was a hire as a disabled vet. you know? training a disabled vet so the firm is starting to grow at the point now where we're moving away from the model of the industry vet to the vet helping the vet. >> different branches, different times of service but, you know, it's something that doesn't matter. that's the brotherhood of the firm. we're all working together. we work well together. >> john martiniko, marine and army guys. we have more on cnbc.com, both video and great story. definitely check it out on the we believe site. a great story for veterans day, kelly. >> appreciate the work you're doing on this for us, dom. many in the military and veterans are paid very little and have less financial education and so payday loans, pension advances and rent to own schemes are just a tactics they're targeted for. ohio state representative connie pilich had trouble making ends meet in the service and she became an attorney and a legislator working to protect veterans from the group. she joins us now. welcome. great to have you with us, representative. first of all, just how much progress has been made towards cracking down on some of the tactics and how bad is it still out there for many? >> well, first, kelly, thanks for having me here. it's great to be here. the members of the military are particularly vulnerable to the payday lenders, other predatory lenders and the reason is because members of the military have very model means. very difficult to make ends meet on active duty. i struggled myself because i was setting up a first apartment for the first time. most members of the military start active duty right out of high school and perhaps college. had a sergeant who had to go on food stamps to feed his children. and then in addition, there's an enormous pressure from the military to pay your bills in a timely fashion. think about this. if you don't pay your bills, it could jeopardize your security clearance, it could throw obstacles in the path of your careen's there is a steady paycheck involved, as well. a perfect dream for the predatory lending industry. people who have limited means are desperate financially. have a lot of pressure on them to pay their bills. and have a steady paycheck. so they get them in the cycle. they get them to make the very first loan. they charge them exorbitant fees and interest and then convince them to take out a second loan to pay off the first one and the cycle of debt becomes an unmanageable downhill spiral. >> hi, it's sharon epperson. thank you so much for being here, especially today. and one of the biggest questions i have think that we have is in terms of the financial education that active duty service members as well as veterans are receiving. you have pointed out that 30% of veterans of iraq and afghanistan have admitted that they have no control, don't understand money management. where are they getting the training as active duty service members or veterans, and not just for themselves but for their spouses who often are moving five, ten times along with them? >> yeah. a lot of military spouses do work because of the financial challenges of life in the military. but when they get transferred, they lose 6 to 9 months of income and having trouble making ends meet at all, that's devastating to the family. department of defense has initiated literacy training and while it is important and helpful, it is just not nearly as effective as getting rid of the very dangerous and unscrupulous lending tools altogether. >> so could be -- the answer could be putting next to -- next to the predatory lenders, the car dealershipers with the exorbitant rates and next to perhaps jewelry stores and other stores that are offering mark-up rates and some type of financial education center, places where people can get this information and also providing this information online. what kind of steps do you see that could be taken to really help these people? >> well, first of all, every military installation does have financial counseling but it is and while it's helpful as i said before, it's not nearly as effective as getting rid of the measures and tools that are out there right now. we need to have state legislatures that have some backbone to institute some really strong rules against these predatory tools. a lot of legislators will wrap themselves in the flag and coming to protecting the actual members of the community they turn a blind eye. we need the limits of a loan a person to take out. we need to have each borrower be forced to prove they have an ability to repay a loan befo. >> thank you for the service to our country and greatly appreciated by myself and many around here. these are men and women who go many of them into combat zones, fighting to protect the country. it seems to me that they -- with the proper education they would have the wherewithal to be able to take care of themselves. i really feel like the focus here like sharon had mentioned should instead of be being trying to remove the barriers and bad guys seems the military veterans of all people should be the ones to be able to harness that education. i think there are a lot of members of the private sector like myself and sharon and people on the panel interested in getting involved. what kind of resources where we could get involved to help to educate some of the veterans? >> last words. >> for the first time, while education is important and helpful, it is not as effective as outlawing these dangerous tools to begin with. and i also outlined a couple of the things to do. make sure they have an ability to repay. make sure that there's a limit on how many repeat loans they can get. make sure that the interest rates are capped overall and the number of short-term loans are limited. while it's greet say we can do financial literacy and that the members of the military are best able to protect themselves, surely they are. but look. as an attorney, i represented the poor, the wealthy. and everyone in between. and the common thread among them is needed help managing the crises. everyone needs it and particularly the members of the military for us to say, oh, let's let them fend for themselves with education, really usurping the duty of americans to thank the veterans. we need to be out in front, put limits on the things. establish rules and up to the state legislatures as well as these cftc to make sure that the rules are instituted. >> okay. thank you so much for being here. appreciate your time. and listen. >> great to be here. >> this issue, there's some different takes, carol, on how best to go after -- can we agree that every -- the more we try to do about it, the better? >> no. i'm one that's very focused on evacuate r veterans and people in the military and need more services but to state they can't take of themselves with the appropriate education is insulting. >> part of the problem, she said it, young men and women, they go right into the military out of high school. some out of college. they've never had to manage themselves. they get involved in the army or the navy or the air force or whatever arm of the armed forces and they don't have the ability to learn yet. the education's very important. >> education is the -- >> absolutely. >> of course. it needs to start as they're recru recruited, not once they're in. >> just like average americans. right? needs to start as early as possible. every american, needs to start that way. her points about what needs to be changed in terms of predatory lenders is certainly the case. you can't have either or. it needs to happen together. >> teach them about pred tear lending to be aware of it. >> you tell somebody who defended their life in afghanistan and iraq, i'm sorry, you can only take out three loans because we don't think you can figure out the -- >> they might not have the ability. >> we can give them the tools to be able to make smart financial decisions for the rest of their lives and that's what we should be doing with every single american. >> a quick break. i'm scared of what will happen during it. big retailers rolling out earnings tomorrow. ko courtney reagan tells us what to expect. also, anson williams is gone from the acting world to the business world. the "happy days" star is extremely successful entrepreneur selling hollywood buttedy products of all things. he'll talk about his secret to success. why he and the rest of the cast just missed out on the syndication boom. that's coming up. act i. scene 3. open port twenty-two-oh-one-seven on the firewall for customer db access. install version two-point-three of db connector and ensure verbose flag is set in case of problems. (clapping sound) isn't the cloud supposed to make business easier? get the one that can connect to the systems that you already have. today there's a new way to work. and it's made with ibm. mi'm a lineman and troubleman. i work out of the stockton division. been married seven years. i got two kids. this is where i want to raise my family. pg&e lineman, our job is to keep the power on so that our customers can go about their daily lives. if there's an emergency, we'll get the lights back on. i grew up in ripon and i've traveled the world with the military we can use that work ethic that the military instills in you to make a better employee. it feels great to work in the community that i grew up in. i'm proud to work for pg&e. we keep the power on. welcome back. as the cost of obamacare is becoming clearer, people are fascinated by the david faber conversation with jack ma. >> they are. it's pulling all day for us since this morning. it was a wide ranging interview. we have all soshts of bits and pieces and the one that's getting the most attention is jack ma saying he is tired and he just doesn't like being rich which you can imagine the snarky comments on that story. >> you should hear the panel. >> to his credit, he says he will get involved in philanthropy and they have comments of how to help him with the rich problems. >> but you know what? it's almost frustrating for people to hear him say i don't look at my stock price. i don't do this. i don't pay attention to it. let's be honest. can we be honest? of course he is looking at the stock price. he is worth another 10 billion in the 2 months that they have gone public and so it -- people get almost and laughed at that comment. >> not only that, you know, money is not everything but it's more comfortable to cry in a mercedes than a bicycle. >> yeah. >> definitely is. all right. well, second story on the hot list, probably the most depressing copy i have read all day. a little write-up of the latest analysis of the cadillac tax. that's the tax that's going to hit health care plans as part of obamacare their estimate is $2,700 per employee and $1,000, a little bit over, per employee in added payroll taxes. and overall, $6,000 less value in your health benefits. have a nice day. and then -- >> oh my -- >> number three, i just feel that we have to put this out here for journalistic balance. remember that story of a couple of weeks ago about the nasty divorce? >> yes. >> affecting a couple of bio tech stocks? >> yes. >> the wife is doing the backstroke on those comments saying they were misconstrued. she was talking about the debauchery. never mind. never mind. >> you're right. for journalistic purposes, glad to have the update on the story. people read into it what they will on why she is doing that. allen with the details. low end housing market is crawling along. what about luxury homes? entirely different story. the $20 million sector of the housing market, urn turns out that's the sector doing just fine and robert frank has more on that just ahead. [announcer:]startup-ny. it's working for new york state. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. go to startup.ny.gov. so ally bank really has no hidden fethat's right. accounts? it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. i take prilosec otc each morning for my frequent heartburn. because it gives me... zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn. yes, luxury home sales still a bright spot in the housing recovery. nowhere brighter than the multimillion dollar homes. robert frank is here with much more. robert? >> kelly, you know, the third quarter was a tale of two housing markets with higher prices and falling inventory at the top and continued weakness on the bottom. sales of homes priced at a million or more up 9% nationwide according to red fin looking at the major u.s. markets. sales of homes priced at $5 million and up did even better. that was up 18%. that compares with a 1% decline in the overall housing market. inventory at the top is really tight. the number of million dollar homes for sale fell 13% and $5 million plus market, the inventory down 47%. so big jump there. >> when demand is strong and supply is tight, there's only one place for prices to go and that's up and seeing that the list prices continue to be strong and heading north and that's very unlike the rest of the market. >> now, the three most expensive sales of the quarter all over $25 million. one of them is this home in indian creek, florida. just outside of miami. $28 million. it's 21,000 square feet. it is on 2 acres. theater, wine cellar, billiard room, yoga room and it had been listed for $45 million. so kind of a bargain at $28 million. back to you. >> oh yeah. yes, indeed. i think kenny was the buyer of that. in fact. robert. thank you very much. holiday shopping season is about to begin. we'll get a sense of how they're faring with a preview and next tomorrow boring is profitable. boring stocks that is. find out which ones we're talking about when bob olstein joins us tomorrow on "the closing bell." we'll be right back. there's confidence... then there's trusting your vehicle maintenance to ford service confidence. our expertise, technology, and high quality parts means your peace of mind. it's no wonder last year we sold over three million tires. and during the big tire event, get up to $140 in mail-in rebates on four select tires. ♪ welcome back. in case you were counting, 43 days to go until christmas. 43 shopping days, but only one day until the earnings spree begins. courtney reagan? >> i think everybody counts down to christmas. maybe that's just me. second half of november is about as busy as it gets for retail between earnings and that black friday weekend. macy's kicks off partner stores third quarter earnings tomorrow. expect earnings of 50 cents per share increasing 1.3%. not great. jcpenney reports after the bell. the retailer warned of low single-digit comps compared to its prior mid single digit guidance back in october. walmart reports thursday with analysts looking for earnings of $17.12 on $118.35 billion in revenue. but flat same-store sales. conference calls will center around the holiday season guidance. >> courtney, thank you. good luck with the countdown calendar. a news alert on yahoo! in the meantime with our jon fortt. >> yahoo! has agreed to acquire brightroll for $640 million. their second largest acquisition behind tumblr. they'll make around $100 million this year, that's how much brightroll is expected to pull in. they are a video advertising network. out with the banner ads, in with video advertising which gives yahoo! a big network of publishers of advertisers and a business about the size of tumblr. we'll see which accelerates more but she believes it will be a big deal for yahoo! that a company of this size has agreed to be acquired by yahoo! for what looks to be under seven times revenue. >> in silicon valley that's a steal. thank you, jon fortt for us this afternoon. ready for a blast from the past? not long ago the sitcom "happy days" about life in the fabulous '50s. up next we catch up with one of the show's co-stars, anson williams. who has found even happier days as a hollywood entrepreneur. back with the incredible story in two. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for you. welcome back. you probably know him best as potsie from "happy days." but since the sitcom, richie cunningham's best friend has become a television director, producer and an entrepreneur running starmaker products, a company that brings hollywood beauty products to the public. and now he's an author. out with his latest, "singing to bulldogs, from happy days to hollywood." welcome. >> i know a couple things. great to be here. so exciting to be here at the new york stock exchange. i've never been here. >> you should have been here 20 years ago. >> that's what they tell me! >> you should have been here 20 years ago. >> could have been a contender. >> how do you compare to arnold's? >> it's just slightly bigger. >> little more going on? >> i have to say what amazed me most about this book, it is a great read. you even include the sort of tip how to write a memoir in 30 days. but it is a tribute to willie turner. please tell everybody who willie turner was and why he made a difference in your life. >> growing up, i kind of had a hard upbringing. maybe like a people of people in my generation. at 15 i was not the most confident kid. i was actually pretty lost. we weren't rich or anything like that so i had to get a jobfy wanted anything in life other than food on the table, you had to buy it yourself. so i got a job as assistant janitor at leonard's department store. my boss was a man by the name of willie turner, who was afro-american, illiterate, alcoholic, and yet had the magic for my life. he called his janitorial room the talk room. we would talk. he had two oil drum cans in that room and he talked to me instead of at me. and every day i would get a life lesson from this man. at the end of two years i found me because of willie turner. there would be no story. i would not be here today without willie turner. >> everybody needs to go through and read this. i've never read an uplifting story about show business for thank you first of all for being one and for paying it forward for willie. >> i started broken. i walked out, i was going to win. the greatest underlying theme is never judge where you get your answers from. >> we'll get much more. thank you for being here. "fast money" starts right now. live from the nasdaq marketsite in new york city's times square i'm melissa lee. former hedge fund manager and author of the global macro investor rolls out the biggest risk to the u.s. economy and he has a dire prediction for 2015. plus find out what the ceo

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