Around. The dow took a steep dive of nearly 200 points yesterday with the rest of the market following cu with the exception of gold which gained 18 per ounce. Potential Market Movers today will be gdp numbers and earnings. Last night facebook shares soared more than 12 after beating analyst predictions. And, lenova is set to buy googles motorola handset unit for 2. 9 billion dollars according to reuters. Todd horwitz of average joe options joins us now to talk about the fed fallout. Good morning. I like to call you dr. Doom and gloom but you pegged it right. Good morning angie. Yes, the fed did come out with their tapering announcement but i think the feds a little bit concerned here. I think their unintended consequences of the entire program is starting to show up through all of the markets including the emerging markets. Exactly. Which leads me to the turkey situation and the other emerging marketswhat do you think is likely to happen here . I think theres a good chance that theyre probably gonna have to devalue their dollars. Theyre trying to fend off any problems right now by raising rates and trying to get money in but i think eventually they are gonna go the route of argentina which is to devalue the dollar and the bond holders are gonna take a nice haircut. Are you seeing any market clues of buy signals or is the sell signal on . The sell signal is on. We will get a bounce. Dont get me wrong. We arent going straight down. We will get bounces here and there but if you watch the levels we start at 1850 as resistance went to 1820now 1780 becomes resistance. It looks like 1740 should be some support. We will have some very big rallies. Bear market rallies or corrective rallies are extremely sharp. So i would not be as surprised to see a rally but i would be a seller into it. Thank you todd. Have a great day. Todays Market Action could once again key off yesterdays fed move. Yesterday, the Federal Reserve revealed plans to taper its bond buying purchases by another 10 billion dollars, to 65 billion dollars starting next month. The fed pulled the trigger on tapering back in december. The Central Bank SaysEconomic Activity picked up in recent quarters. A big shocker was that the fed did not mention recent currency concerns plaguing some emerging markets. Wednesday marks the final fomc meeting for fed chairman ben bernanke. A chill is still in the air this morning. Insurance Companies Report the deep freeze this winter is creating a spike in frozen pipes. State farm tells nbc the average claim for pipe bursts is as high as 15,000. In the south the wintery weather continues to cause headaches this morning. State farm tells nbc the average claim for pipe bursts is as high as 15,000. In the south the wintery weather continues to cause headaches this morning. A state of emergency has been called in alabama, mississippi, louisiana, north carolina, south carolina, and in georgia the National Guard was called into assist motorists stranded for hours on icy highways. And, prices on superbowl tickets are falling along with the temperatures. Bernie rayno of accuweather joins us now with the forecast. We are still have plenty of icy roads,. Warming up this weekend, superbowl should dry out for kickoff on sunday. Thanks for the update bernie. A frost is thawing on capitol hill. After two years of talks, a farm bill has passed the house. The bill aims to save more than 16 billion dollars in federal spending over the next decade, according to the congressional budget office. Some of those cuts would come from the food stamp program, which would slash 8 billion dollars. It also eliminates a controversial farm subsidy that pays farmers whether or not they grow crops. Some savings from that program would be used to expand a government Crop Insurance program. The bill got the support of 251 members of house but connecticut congressman jim himes was not one of them. We still, through the farm bill will be spending on agricultural subsidies thatll result in higher sugar and higher cotton prices. A senate vote is expected sometime this week. President obama pays a visit to a Nashville High School to talk about education as he promotes the agenda he layed out in his state of the Union Address this week. Yesterday the president toured a costco in maryland. The sucessful retailer pays entry level employees 11. 50. The president is pushing for congress to pass a minimum wage to 10 and ten cents. Well above the current 7. 25. The president also unvieled a new savings plan called myra giving americans the opportunity to save money savings bonds without the risk of losing on their investment. Heres one reaction. You have to pay taxes because its not a 401k and when you end up putting a little in its going to be very safe so they cant lose money like a government bond. Initial investings in the myra can be as low as 25. The Affordable Care act is turning out to be a good prescription for investment in health care stocks. Our cover story looks at some of the early winners. Wellpoint, an Insurance Company that runs blue cross and blue shield plans in more than a dozen states across the us has signed up a halfmillion consumers for Health Coverage under the Affordable Care act. Two thirds of them eligible for government subsidies of up to fivethousand dollars. Wellpoints ceo, joe swedish told reporters, we are encouraged by the sizable growth opportunities. Wellpoint expects to add more than a million new customers this year this year. Theyre obviously buying more insurance, so whos going to benefit . Wellpoint, cigna, hmana. All the usual suspects and what were seeeing in the stock market is the expectation of profits baked into the prices of those companies. Shares of wellpoint climed a dollar 42 wednesday, and closed at 8537. Last year, wellpoint stock earned 8. 20 per share. This year, wellpoints chief Financial Officer expects earnings per share above eight dollars. Other companies, such as labcorp, which operates 18 hundred lab test centers and has 20 of the independent lab test market has captured analyst attentionwith 5point 8 billion dollars in annual revenue and earnings per share of more than sixdollars. It closed wednesday at 89. 24. Sick people signing up means more lab tests, so thats good for labcorp. Its not so good, though for the insurance industry. Cyber attacks are giving rise to stocks in the security sector. After the close last night the Number One Firm in the group symantec reported profit and revenue that topped wall streets view. Shares rallied 3 into earnings. Earlier this week check point shares gained ground after disclosing its next generation cyber attack Prevention Software is selling well. Hackers broke through the angry birds website. It follows a report from the new york times, which claims the nsa and a British Intelligence agency have been using the app to collect user information. Hackers changed graphics from angry birds to spying birds and added an nsa logo to the site. The app developer rovio Networks Says it does not provide information to government surveillance agencies. Attorney general eric holder vows to hunt down the hackers that hit target during the holidays. We are committed to not only find the perpatrators of the of these breaches but also individuals. Holder made the comments wednesday before the Senate Judiciary committee. Its believed hackers in Eastern Europe installed malicious computer code into targets system, then picked up information as roughly 70 million customers swiped credit and debit cards. A chicago accountant is accused of insider trading. The sec says a cpa for allscripts used info about a weak Earnings Report to short the stock and buy options to make a profit off the stocks decline. The man allegedly made 286 thousand dollars off the activity. He faces criminal and civil charges if convicted. His attorney had no comment. Sothebys is on the defense. The art auction house is fending off an attack by activist investor dan loeb and his Hedge Fund Third Point capital, last year loeb slammed the company demanding a new ceo. Third point has 9. 3 stake in sothebys. To free up capital sothebys plans 22 million in costs cuts, payout a 300 million special dividend in march to investors and potentially sell the new york headquarters. New beginnings mean a new name for two car companies. Recently merged chrysler and fiat will be known as Fiat Chrysler automobiles. Its office is based in the netherlands, however it operates out of a detroit suburb. The merger is off to a good start. Chryslers Earnings Report revealed the company quadrupled revenues in the fourth quarter, which will help boost fiats results. Now onto more earnings news. Boeing cruised through the 4th quarter with a 26 profit increase as the jet maker delivered a more orders for commercial aircraft. However the stock dropped 7 dollars as investors remain cautious about the year head. Dow chemical shares moved up more than a dollar and stayed up in yestedays down market. The company turned in sales that topped 14 billion. Dow will triple its stock buyback to 4. 5 billion and increase its dividend to fight pressure to break up the company. And nintendo profits plunged on weak sales of wii u. Competitors are gaining on apple. Just days after apple admitted to losing ground in the smartphone market. Data finds companies such as lenovo and samsung are gaining marketshare. However, the tech giant still holds 34 of the tablet market. A strike by air Traffic Controllers in europe is creating travel trouble. This is day 2 of protests by workers who are fighting cost cuts and reforms. Wednesday, lufthansa and ryanair canceled flights. European governments want to make flying more environmentally friendly and efficient by changing airspace rules. The union considers it unsafe due to staff cuts. Government officials call the strike unacceptable. One of the worlds newest billionaires can thank a succesful juggling act for his wealth. Kenneth feld, the ceo of feld entertainment. Has reached billionaire status. Feld entertainment owns Ringling Bros and barnum and bailey circus, and disney on ice, among other shows. Revenues for the company hit a billion dollars for the first time last year. Theres a latte competition between mcdonalds and starbucks. Mcdonalds plans to improve its coffee and perk up business by going cup to cup against starbucks. Fourth quarter same store sales slipped 1. 4 at the burger chain. Still to come facebook in focus. A status update as that stock rises higher plus. The indie movies that are making finanical headway in hollywood. But first. Why its all downhill for some business out west that are missing winter. Well be right back as the drought drags out west california governor jerry brown is declaring a state of emergency as 17 communites there are in danger of running out of water within the next couple of months. Also, some businesses are already left high and dry. Ky sisson takes us there. Lake tahoe is known as one of the best ski destinations in the world, but what about when there is practically no snow in sight . The area is experiencing one of the driest winters on record, affecting local business by keeping tourists at home. No doubt it has been impacted, it is not the snow year we would want. Marika cherry is the general manager at the pepper tree inn located in tahoe city california, and says she is at 55 of average capacity for this time of year. She is cutting prices to fill rooms and even then, stemming the tide of reservation cancellations is a challenge. If we dont have snow, then they begin to cancel. We have very big trend for cancellations right now. Squaw valley ski resort visitors pat and Vivian Porter have been planning their ski trip to tahoe for months, traveling all the way from atlanta. We like it to be great conditions if we are gonna put out the money for a lift ticket, with snowpack levels just above 30 of average this time of year. I usually would be sitting in four feet of water right now. And with these spring time temperatures, businesses are finding other ways to keep visitors busy. And spending money. Because of the lack of snow, weve got people coming in and rent bikes and paddleboards and doing other activities that tahoe has to offer thats not just the winter activities. We see people wanting to enjoy the other things that they would maybe enjoy in the summer time in january. Dax willard is general manager at willard sports shop in tahoe city and says their business is focused around winter sports, but is making the best of a dry season. The lakes been beautiful, the weather has been nice and sunny, not exactly what youre lookin for when youre tryin to sell a pair of skis, but were makin the best of what we got here in tahoe. A lot of the activities that are usually dormant right now because of the winter time are very active and doing very well because people are still coming up and looking for something to do. The snowpack in the lake tahoe area is 21 of average for this time of year and Forecasters Point to more dry conditions on the horizon. But that doesnt stop tahoe residents from being optimistic. Things could change very quickly in tahoe too, we could get six foot storms that drop six feet of snow, changing things very rapidly. Were talking to the high of heaven all the time. But so far it hasnt helped yet. In tahoe city california, ky sisson, First Business news analyst says its possilbe smaller independent ski resorts may face the threat of a takeover as business this season dries up. Coming up. About face. How one trader is playing Facebook Post earnings. Plus. The documentary that honors the life of americas favorite film critic. Thats after the break hi, im ben affleck, and many actors have played the part of a u. S. Serviceman in the movies, but for veterans like james crosby and so many other brave men and women, his service and his sacrifice for our country are real. Outside baghdad, a rocket attack blew up my humvee, killing one of my marines and leaving me paralyzed. [ben affleck] when james returned home, he, like many others, was in no condition to cope and advocate for the services he needed. Fortunately, paralyzed veterans of americas trained experts were there to help him so he could concentrate on getting well. For over sixty years, paralyzed veterans of america has worked to ensure that our injured veterans get the medical, housing and auto benefits they have earned. Im so thankful paralyzed veterans of america was there for me. Surely those who sacrificed so much deserve no less. Join me in supporting our paralyzed veterans. Visit pva dot org. Fresh from his trip to the Sundance Film Festival our critic is here to talk reels and deals. Good morning. Good morning. How was it . It was okay. As every sundance goes, there are movies that are really good and those that are really bad. Everyobe is sort of looking for the one breakthrough movie thats going to inspire people to latch onto or to maybe be a minor hit at the box office. I dont know if we have that this year. What were some of the bigger deals you saw . One of the bigger deals was a film called the skeleton twins. Lionsgate and Roadside Attractions picked this up. Its a really wonderful film with bill hader and kristen wiig from saturday night live doing the best film work of their career so far. They play a suicidal brother and sister coming to terms and reinventing the next portion of their lives. Its a really special movie. What about the zach braff film . It was a late addition to sundance and there was some controversy because this was a project very much partially funded by kickstarter. He had fans donate money and they got the film made. It had kind of a mixed reaction at sundance. It sold for 2. 75 million to focus features. Theyre going to release it in limited release sometime this year. I was a big fan of the movie but there were other people who were not. How well did the new roger ebert documentary do . It was like gangbusters. They loved it. Yeah. This was a completely Emotional Experience for everyone at sundance. A lot of people like myselffrom chicago were there. Bias aside, it was the best film i saw at the festival. Steve james, a chicagoan who did hoop dreams and was sort of helped out by roger ebert and gene siskel back in the day. He did a remarkable job with this documentary. Its very thorough, beautiful, and funny. Its reallyw ell structured with the last months of his life. Its a great movie. I will look forward to seeing that one. As far as sundance success, what would be the top . We saw alst year we had don jon, the way, way back was the big seller. Fox searchlight bought that movie for 10 million. It only did around 21 million over the summer. It could have gotten an oscar nomination for sam rockwell and it didnt. You look at the other films down on this list like Fruitvale Station was sort of the big success last year but also didnt develop the steam for oscar season. I saw 2 movies on your list. I saw jobs and before midnight. Well you saw one good movie. Before midnightone of the best movies of last year. You loved it. Yes. It got an oscar nomination for adapted screenplay. I thought jobs wasnt bad but i have to clarify that i saw it on an airplane. Thats where you should see it. I was a captive audience and it gave me something to do for 2 hours so i enjoyed it very much. Okay. Coming out this weekend at the box office is a film that you have been talking uplabor day. Yeah. This was a film that i saw that the toronto film festival. It premiered at telluride right before that. Paramount has sort of buried this film. Jason reitman directed it who did juno, up in the air, and young adult. I think this is another really strong effort on his part. Paramount didnt really give it a push during awards sea