Street today and lots of green in the stock market to go with it. The major averages bounced back from sharp sell off last week and all the end of the s p sectors were as well. The dow jumped 146 points. The nasdaq added almost 23, ending above the key 4,000 level. And the s p rose about 15 points. So what triggered all this optimism . Investors were encouraged by new retail Sales Numbers that were stronger than expect ad sign maybe that the economy is emerging from a slow winter. The gains were led by autos and furniture as well as sales at general Merchandise Stores like target and walmart. Solid earnings from citigroup boosted investor confidence. Profits for the First Quarter came in higher than analysts estimates and citi stock surged 4 on the news. Kayla tausche joins us more with more on that surprising report from citi. Kay larks last week we were talking to you about this one and everyone was bracing for a lousy report. What happened . Not much to write home about. Two points where science ticiti surprised. Credit is Getting Better so citi has been able to release more money. Lets talk about the International Sweep of citi. The u. S. Bank with the Biggest International footprint. Do these results say anything about the Overall Health of the global economy. We saw a lot of growth on the asian consumer side and latin america consumer side. That was the runaway growth on the consumer sector. We didnt see a lot of corporate activity. With rates staying loin the First Quarter and stock market going up there would be a lot more m and a activity, a lot more refinancing that continued but we dont see that happening and there also wasnt a whole lot of trading. One surprise actually may not surprise you, but Citi Holdings it is the majority of that is the u. S. Housing market. Its subprime mortgages, old line mortgage portfolios. The value of that rose very sharply. And a lot of the executives were just talking about how the u. S. Housing Market Recovery is one of the main stories. Youre telling us a lot of stuff thats going the way of citi. Can investors expect citi give a dividend any time soon . Its been a while since theyve seen one. Will the Federal Reserve give the okay. They have a one. Cent dividend. They didnt pass the capital return portion. Executives today on the Conference Call said they would not be resubmitting that plan to the fed instead hunker down and try to rebuild those process make them morrow bust resubmit next year so investors have to wait three more quarters for that. Kayla, thank you very much. Citi is just the start of a big week for corporate earning. More banks are due to report along with a handful of blue chips, cocacola, General Electric intel. Dominic chu with a look ahead. Reporter this is a huge week for bank earnings. In addition to citigroup all the other major groups will report. On wednesday bank of america is out before the opening Bell Goldman Sachs and Morgan Stanley report before thursdays start of trading. Bank and other financial stocks are important for the market because the sector is the second biggest in the s p 500 right after technology. Theyve also underperformed as a group for such a long time. Even today with stocks near record highs bank stocks are still a long way off from recouping losses from the financial crisis but some see opportunity. We do like the financials. We own some of the big names. Nice to see wells fargo put up a big number last week. We like the Smaller Banks as well because they are the ones that dont have as much Capital Market activity that will benefit from increasing loan demand. Were seeing good loan growth. Reporter banks arent the only game in town. During this holiday shortened trading week nine dow components will deliver Earnings Results as well as over 50 s p companies. Including cocacola and intel tomorrow. Google and pmi on wednesday. Ge and Union Pacific on thursday. Traders are struggling to fine conviction to either buy or sell this market. Earnings will be a big part of the decision. At the end of the day earnings is what counts. This isnt a stop market. We need to focus on what the companies numbers are but more importantly what is their guidance looking forward and how are they staying in the economy. Reporter concerns are growing where the market peeked. Earnings reports are seen as a major catalyst to it is new record highs for stocks or give trade ears reason to sell sean lock in profit. For nightly Business Report im dominic chu. Even though stocks rallied today theres a lively debate between the bulls and bears on wall street and tonight well hear from both sides. Michael farr president of farr miller in is washington and bear is barry james. Gentlemen, welcome to you both. Let me begin with barry. Tell us make a case for why youre not so bullish. Why are you pessimistic on the markets right now . Its just a matter of risk. Again, no one knows when the market will go up or down but our risk measurements say theres highrisk. Southeast reasons behind that from a macro tap the Federal Reserve is tapering. In the past two times when they quit quantitative easing the market fell. In 2009 we were closer to one times book value. Were much higher than that. The average pe on the s p 500 is 25. Probably the most telling thing for the next few months has been sentiment readings. We havent seen bullishness like weve seen in the past two months until 2007 and bearish levels were not this low going back all the way 2000. Wall street is very excited. There are about 50 more buy recommendations to sell recommendations on wall street today than normal. We see insiders are selling. One thing that really gives us the chills is the fact that margin debt, borrowing money to buy stocks is at all time highs. All of those kind of say were in a highrisk period right now and we should probably take a little bit off the table to try to preserve some capital. Michael, barry has laid out a very full case here. How do you react to it . I you know to be an extremely cautious guy especially when youre playing with other peoples money which is what you do. No question about it, tyler. Barry makes a good case. I want to pick on a little bit, some of his data points. In general i dont think you can time the market. Alan greenspan talked about ration enamel exuberance in 1996. So its very difficult to weave your way through this. When barry talked about the market being 25 times earnings he was looking at the schiller pe. The market is about 16 16 1 2 times earnings right now if you go back to average earnings and take a look at schiller numbers. Yes, that worries me from a margin point of view but i think that there are still companies that you find that have good strong Balance Sheets growing earnings on the top line and the bottom line. You dont have to pay too much for them. I think you own them to weather storms like this and i think you stay invested. The economy is recovering. Its a slow recovery, but it is coming out of this and were maybe picking up some traction. Im certainly not a seller. So i want to pick up on that michael, because a lot of people at home watching this, theyve seen in the last couple of days sharp selloffs and some are biotechs, some are high flyers but taking down a lot of the regular Stock Companies as well. Sore you saying put your money in anyway and dont worry about you know, all of the selling . My friend freddy tower says the time to invest is when you have money the time to sell is when you need money. Otherwise dont think about the stock market. I think when folks are fearful and you see this huge swath of selling thats when you get your list out and see if perhaps theres some value being created and you want to buy. The stock market could certainly have a 10 correction or 15 correction. We havent had one in a long time. But, trying to figure out when its going to be to me doesnt make sense and i want to stay invested through the whole period. If you sold out in you know in 2008 or 09 you would be in trouble now. If you stayed through you would have a lot more money even after going through that. Barry i think you think theres the likelihood of a correction coming but you think the market may well be higher by the end of the year than it is today and second youre not saying sell everything in fact if i read you right youre saying buy selectively particularly in energy. We got 30 seconds if you could sum it up. Thats exactly right. As we look at today when over 42 years in this business we know we dont have the high or low but we slice our way out of the market. Weve been 55 to 60 now were 45 to 50 in stocks. There are pockets as michael described of very Good Companies and we can get them at a discount. Its a good time to move forward. We would say there are higher risks and actually bonds today as they have been so far this year still look like a better play for stocks over the next quarter. Interesting place to leave this conversation. I hope we can continue at some point. Gentlemen thank you so much. Michael farr and barry james. U. S. Budget deficit continues to shrink. Its expected to fall to around 500 billion this year. That is less than 3 of the nations gross domestic product. Congressional Budget Office says the deficit will be the lowest in six years and down more than 60 from the record 1. 5 trillion during the peak of the financial crisis. Todays projections are lower than earlier forecasts. One reason lower estimates of the subsidy costs of the Affordable Care act. Americans are also feeling more optimistic about the job market. According to a march survey by the Federal Reserve bank of new york, they felt they had a 49 chance of finding a new job should they lose their current one. Now, workers under 40 were the most optimistic. They put their chance of finding work at more than 60 . Strong gains in the stock market contributing to a hefty jump in pay for the chief executive officers of the countrys 100 largesse companies. Mary thompson look at which ceos top the list and salaries and perks that accompany them. Reporter those at the top of the corporate ladder continue to take down more in pay. The stock market was up 26. 5 . Thats a big factor. Reporter with over half of the ceos compensation tied to their Company Stock performance it figures as the market goes up so too do their paychecks. As they did in 2013. A survey shows ceos at the nations 100 largesse companies by revenue pulled down almost 14 million in median pay last year a 9 increase from 2012. Average pay remained unchanged at just over 14. 5 million. Topping the list as he did last year oracle ceo. The founder of the Software Giant awarded 77 million of his 78 million in pay in an option grant. Oracles board ignores shareholders who voted know on ellisons pay for two years in a row. Directors dont have to act on it they just have to consider it. By ignoring shareholders wishes now, oracles board could be causing problems for other boards in the future. What this does is it says to public not just shareholders but to the public that advisory votes can be ignored and what that can often do as it has done in europe and the uk is it can result in pressure being put on politicians to make votes on pay more meaningful. Reporter that could mean restrictions on whats paid to the suite. Its the board that decides. Disneys ceo is the second highest. He pulled down 34 million a decline from 2012. Rounding out the top three, 21st century fox robert murdoch. He earned 26 million. Proving even when youre on top your pay at least can climb some more. For nightly Business Report, im mary thompson. Still ahead details on the multibillion dollar deal thats lifting retirement giant piaa into the top ranks of the u. S. Mutual fund business. That story next. A marriage of two Money Managers today. Piaa craft is buying nuvene investment. The merger is partly the result of the changing way people are saving for retirement and increasing competition to manage your nest egg. Bertha koombs has more. Reporter they are already the leader for Retirement Funds and Nonprofit Institution with 5 million customers. Adding nuvene investments could help it expand. As the retirement industry moves away from pensions and into the defined contribution or 401 k plans having a big presence there can be really important to tiaa craft. Reporter nuvene is the largest manager of closed end funds. Analysts say the acquisition valued at nearly 6. 3 billion will provide tiaa craft with a new revenue stream to pay its pension clients. Instead of having Corporate Bonds or u. S. Treasuries or commercial Mortgage Loans as an investment some of the money will be in an investment called nuvene investments which which pay dividends to the parent. Another sort of earning asset for tiaa policy holders. Reporter just as important, tiaa says the deal will allow it to provide its clients with wider range of investment choice and tax exempt bond funds and real estate options. Its a comment on how scale can be helpful in the retirement business and having your fingers in a lot of pies. We see a lot of complicated products and investments in retirement plans and this gives the firm a few more options to deal with. Reporter the acquisition if approved makes tiaa craft a much bigger player, bringing to it 800 billion under management. But it would still lag well behind fund giants Like Vanguard Group with nearly 3 trillion under management and blackrock which reported 4 trillion last year. Bertha koombs nightly Business Report. Google said it agreed to buy titan aerospace. Thats where we gin tonights market focus. Internet search giant wants to use the High Altitude solarpowered drones to collect images and get more of the worlds population online. No word on how much google paid for titan. Facebook did end up purchasing its own Drone Company so there it is called assenta. Google shares rose 1. 5 to 545. 20. More on facebook. Its apparently no longer content with being just the largest social media site. Its preparing to provide Online Financial Services starting in ireland. Facebook just needs the approval of the irish regulatory board to offer users several types of Financial Transactions online. Shares of facebook up slightly today. Web md said it expects to report strong First Quarter results at the end of the month. Anticipates reaching the upper end of its annual earnings and revenue projection. The Health Information provider says 32 more people used its website in the first three months of the year. That gave a big boost to its ad sales. Shares surged to 43. 87. And General Motors gained ground after said its replacing executives in charge of communications and human resource. Its not linked to the on going safety crisis. Gm attributes the move to mary barra who took over in february making her own hires in key position as she builds her own team. Shares of General Motors up 62 cents at 32. 55. Medical device maker edwards life science was the best performer in the s p 500 today. It got a farvable court ruling on a key patent. Federal judge has reaffirmed an earlier ruling that the core value system infringes on edwards patent for replacement heart valve. A share surged to 81. Medtron fell. Goodrich petroleum surged on news it drilled its successful well. That bolstered confidence in the field and production potential of that area which spans parts of louisiana and mississippi. The stock rose more than 30 to 23. 96. And twitters ceo said they have no plans to sell any of their company shares. The reason is twitter debuted at 26, jumped to more than 74 in less than two months but has pulled back sharply. Shares closed today at 40. 87. The harsh Winter Weather took a toll ningss farmland and this evening in a new government report we get a first look at the damage that was done and how much of it impacted it may have on the spring planting. We have the details and what it may mean for the price of food. Reporter by all accounts it was a brutal winter even though the weather may be looking up that doesnt mean the damage hasnt been done for farmers. Last week the usda revised and tightened its Crop Estimates for last year and today it said the 2014 planting pace for corn was 3 thats in line with analysts expectations but below the 6 five year average. What does the crop report mean for your wallet . It could mean higher prices this summer at the market and wouldnt just be for fresh corn also be for packaged foods that use corn as an ingredient. Harsh Winter Weather didnt just impact corns planting pace but also hurt other dormant plants. Broken limbs and torn vines, some are beyond repair. In some cases the extended winter chill delayed budding all together in other case buds popped then froze. Damage to peach and cherry trees. Some growers fear their entire lot is gone. And the drought has hurt california citrus industry. 40 of californias orange crop and 20 of its lemons could be lost. Amounting to more than 400 million in loss revenue. Add it all up and fruit prices may jump 2. 5 to 3 . To add insult to