guys got electricity? i'm just kidding. >> first day back from holiday. >> single greatest country ever founded by criminals. >> that's true. that's a great compliment. >> lot more on the markets coming up. "closing bell" which have much more. >> see you tomorrow. and hello, happy new year and welcome to the "closing bell". i'm kelly evans here at the new york stock exchange where 2014 by the way starting out very differently than what happened on this date in 2013. >> i'm bill griffeth. remember what happened last year? last year on january 2nd the dow finished up 308 points. >> one of the strongest gains all year. >> a monster rally. not the days today. what happens the first trading day of the year usually, historically typically, we want to qualify with all different kinds of words here usually is

a precursor for the rest of the year. >> here's the thing. a lot of people will look at us being down. compare to it 2008 remember 2007 we also were lower on the s&p 500 for the first day of the year. but through october of that year it looked great. it's what happened next that raised some eyebrows. >> we talk about the historical precedence but it's just one day. we're not panicking yet. maybe the dip buyers are still on vacation. >> for all of 2013 and 2012 the s&p 500 was never under water. in other words, it climbed from where it opened a year ago. we'll be under water on day one in 2014. >> we got that going for us here. >> also americans children have been hacked. snap chat is popular among teenagers victim of anonymous hackers who posted information including phone numbers of over 4 million snap chat users. we'll explain the wider

implications of what happened here. >> there's a very interesting wrinkle. own hackers told snap chat why they hacked in. >> obamacare from the ground view. a car dealership in michigan is getting rid of health care coverage for its workers and handing them a check for $2400 and sending them for the state exchanges. the owner of that dealership is here exclusively. he has a handful of employees. he's a small business and this is his solution. he's got a very thoughtful plan for his employees. >> it's one to watch as a lot of other employers may follow suit. let's take of markets right now. big declines across the major indexes. dow down .8% or 137 points. back below 16,500. here's a look at the s&p 500 which is shedding about 17 points at this juncture. down to 1830. nasdaq is also under pressure. in fact the breadth of the decline is pretty impressive

down almost 1% at 4138 and oil we should mention closed down $3. a lot of things happening in this space as the ten year dips down below 3%. >> investors should be worried about the rest of the year right? recent history, if that's any -- if past is prolog as we like to say what does bob pisani say about all that besides happy new year. >> thank you william. happy new year. the reason everybody is talking about this first day omen it's been accurate but only recently. put up the full screen. since 2009 to 2013 the first full days have all been up and the s&p 500 has been up each year and in 2008 there was the first day down and full year was down. doesn't necessarily have that long of a history. traders don't use this first day warning as much as an omen. what has more lore associated is first five days of the trading year. there's 39.

the last 39 up first five days has resulted in full year gains 33 times. do the math. that's about an 80% accuracy level and we're going back for many many years. that's got a lot of legend and lore on wall street. the big one is the january barometer. that looks at january for the whole year. as goes january so goes the year. since 1950 and now we're going back more than 60 years now there's only been seven major errors in that up or down as january goes the year. the accuracy level has been about 88%. there's a real wall street legend. guys back to you. >> bob, thank you very much. let's talk about today's action and where we may go from here for the rest of the year. joining us in our "closing bell" exchange heather hughes rich peterson michael gayatt rob morgan and our own rick santelli in snowy chicago where -- are

you going to get home tonight? >> absolutely. one way or the other. >> yes. >> snow shoes. >> anybody has sweating palms? heather hughes. >> always. why come to me first? happy new year. >> happy new year. what do you make of the selloff today? should we make anything of it? >> every day i pound the pavement. merrill lynch, morgan stanley, ubs, we talk about rebalancing in january and of course we know you want to lock in those long term gains. they wait until now the lock in long term cap gains for sure. >> michael, at the same time we shouldn't overlook we got a lot of data overnight. pmi indicators from around the globe which held up okay. you can point to china and france indicating some weakness. anything in the data that spooked investors. >> there's concern about emerging markets and that's not

benefiting from the rebalancing that would occur today given that there were laggards last year and heavier selling today. this is just one day not to panic too much. what's interesting last year emerging markets on the s&p peaked out on the first trading day of the year. i wonder if we're seeing the bottom of 2014 in emerging markets relative to the s&p. the data looks okay. i don't think you'll be too concerned going forward about the suppliers in these developed markets. >> rich what do you make of the selloff here and what it will mean for the january barometer, for example? >> sure. bill, in the introduction you talked about the past being prolog. since 1997 77% of the time december was positive so too was january. the numbers we look at will be two numbers. 7% instead of 4.5%. 7% the unemployment rate. we'll see whether that falls

below 6.9 or lower and 4.5 is the current mortgage rate. how that affects housing going forward. more importantly next week we kick off earnings season on thursday january 9th. strength in telecom and. financials. so we're looking for an s&p 500 to earn about $120 a year in 2014. current multiples, 15.3 times. not as high. go back to 2000 look back ten years ago, 2004 18.6. valuations are a little bit elevated they are not excessive. >> rob morgan you're underweight in energy. oil gothamered today. why energy stocks are underperforming. is it a one day move or in line why you're staying away from the sector? >> interestingly enough kelly, i think the dollar will rise because interest rates will be nudging up and that in the long

run will be bad. interest rates going up. dollar going up. bad for energy and materials. surprisingly enough though today we saw a little conflicting movement out of that. but i think in the long run for this year oil and gold prices are going to be lower at the end of the year. >> you raise an interesting point. there's some strange anomalies in the market. the dollar looks stronger and gold is popping 20 bucks. any theories? >> that i don't know kelly. it is a very strange day. i think a big part of it is the fact -- i think half of the professional traders are still on vacation today. the volume is very light. you talked about in particular the chinese pmi being negative. slightly negative news on a low volume day that drives us down 100 points or so. >> speaking of negative the reason gold is doing that there's a sense we're heading for negative real rates. that was a real dilemma last year. >> what would drive that

michael? what's the catalyst for that? >> yellen coming in officially as the fed chairwoman just to get inflation expectations juiced up. there's a huge disconnect between stocks and expectations. we have a great convergence coming in 2014. that gap will close between stocks and inflation. if that happens gold should benefit. dollar may not strengthen. >> rick santelli about this anomaly as kelly put it. the dollar rising and gold rising today and ten year still above 3%. >> if you look at rates all you had to do was see the down trade that was going on in the equities because even with all the strange relationships we have in managed markets one reality shown through and that's the self-adjusting mechanism of rates being sensitive to weakness in stocks because maybe it means weakness in the economy. as for the there are, listen once again relative value is the

dollar between the euro pound and yen and i'm not sure you can garner the normal fundamental information. as for gold and the dollar ponder this our one guest said hey, we saw interest rates move up and the dollar too but that really isn't the case. when interest rates started to move up rapidly both in may and november the dollar index was actually losing ground. why? because it became more euro strength than dollar weakness. it's the relative value of the currencies that give you a lot less information than you think and as far as one of the main drivers, everybody is enamored with stabilization much europe. take france. numbers weren't good. everything that has francois hollande 's fingers on it hasn't helped france i want will hurt france. i continue to say just because we're not looking at a fat tail situation in europe doesn't mean that the activity there is going to be par. most likely going to be subpar. >> michael, you just got back

from paris. i'm sure you were there doing economic research. what did you find? >> i found the macaroons are ridiculously expensive. on rick's point that's true. we're seeing again with this deflationary pressure in europe. draghi will start with these negative rates floating around. don't discount how serious these deflationary pressures are and how disconnect u.s. and european stocks are from that deflation pulse. >> folks -- heather, finish it out. >> i think much of what people believe about qe has been mistaken. we boosted the monetary base. when you get a pick up of circulation and velocity of money, hence consumer confidence in spending then yes i will think that i do think we'll get an uptick in inflation. >> that's kind of what michael is saying. might see inflation expectations pop.

we'll see. that's guys. >> you got it. thank you. >> wall street and the rest of the northeast bracing for a monster, what we're told is going to be a monster snowstorm, record low temperatures all at the same time. >> already freezing outside. >> pretty cold. >> expect light trading tomorrow because many might be snowed in and frozen out. sara joins us now. >> reporter: good afternoon, bill and kelly. as much as ten inches of snow expected here in new york city as crews prepare for the worst. they already got salt spreaders out on the roads and about 1,000 snowplows standing by. already about 500 flights have been cancelled in area airports and airport authorities are expecting many passengers to be stranded overnight. they are preparing for that right now. meanwhile residents of the tri-state area hurrying to the store to buy snow shovels, food water, in preparation for hunkering down and waiting out

this bad snowstorm. now, they are saying to be sure to stay off the roads if at all possible. if you must go out pack a flashlight, pack food pack water. be prepared in case the storm shuts down freeways like it did last year stranding passengers and cars for hours at a time. this is the first storm of 2014 and expected to be doozy. stay inside if at all possible and stay warm. >> sara thank you so much for joining us. >> good friend of mine lives in boston spent the last two weeks for this holidays in hawaii. flew back yesterday. good timing steve. >> we should keep an eye on the battery stocks. people are already stocking up. >> absolutely. >> just to be safe. >> we got 45 minutes left before the "closing bell" and we've come from a historic year to a telling day in the markets with the major indexes all down and significantly so. >> a downgrade taking a bite out of apple stock. after a strong run to close out

2013 is it time to get out of apple or get back in again? should you fire your financial adviser and let sky net handle your portfolio. we'll hear from a top executive of one of them to make the case. >> some employees at extreme dodge in jackson, michigan are not having a happy start. their health insurance plan was cancelled by obamacare and the dealer is giving them cash instead of sponsoring a new plan. some like it. others do not. not so much dealers -- the dealer's owner will explain his business decision joining us exclusively when we come back. you'll want to hear this. you're watching cnbc first in business worldwide.

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welcome back. we've been hearing a lot about individuals whose health care plans were cancelled because they didn't meet the standards set by obamacare. now about a car dealership with 40 employees which had to cancel its plan after providing coverage for 37 years. >> it's being implemented now. the rubber is hitting the road

now. instead of getting a plan the dealer's owner decided to cut each employee who needed this cut them a check for $2400 and have them go get health insurance on the exchanges or wherever they would find it. joining us now to talk about this to give us a break down, wesley lutz is president and own of extreme dodge, a dealership in jackson, michigan. wesley, thanks for joining us. happy new year. >> happy new year to you. >> break this down for us. you had 26 employees that needed united states. you had 14 others who had insurance through their spouse. but of the 26 you gave them $2400. what did they do with that money >> first of all, because i have less than 50 employees, i have no responsibility fromeibility to provide health care. last year i spent 85$85,800 on health care benefits.

in 2014 i'm not walking away i'm spending 96,000. >> you did this basically because there now exist as way for people to more easily get their own health plan? >> 26 of my 40 employees that i provided health care for, you know, they have different income levels, and i wanted to you know, i'm looking out for my people and i want to give them the most options available. >> but you're in jackson, mississippi -- >> jackson, michigan. . >> i'm sorry michigan. mississippi doesn't have the best options when it comes to the new plans. tell us what michigan offers for people. do they feel there's plenty to pick from? >> i think there are. we had blue cross network which is a great network here. we do have a company plan we're sponsoring, and they can choose to join our company plan. i think it's good insurance and our past insurance was good insurance. we had it for 37 years. >> 21 of those chose that right? am i reading this correctly.

>> that's correct. 21 decided to do it. the other five individuals, four of them have decided not to get insurance, they are all younger people. and one has decided to go under the exchange because it was advantageous for them to be on the exchange. >> i had four went to the exchange and one did not. so four did not go because they are younger and those are the ones that are for make this plan work overall because they are the ones that are healthy, presumably and their premium dollars are needed to bring the premiums down for other people. what do you make of obamacare overall as a small business owner? do you think this was an unintended consequence or do you think this will change? what do you make of all of this from your point of view? >> the aca is the law like paying taxes so we'll conform. you know four years ago my congressman who is now running for governor. he support this law.

i endorsed him. i don't think he knew the consequences of this law or i don't think he would have voted for it. >> why? >> well i mean i brought some examples with me. i have a 62-year-old woman in my office that has a household income of $45,000. she lives alone. her out of pocket costs and increase for her health care went from $5800 to $12,500. i don't think that was the kind of person that the aca was supposed to affect. >> it's interesting too, wesley your 40 employees means you're below the threshhold of having to offer health insurance even though that piece hasn't kicked in. you're doing this almost out of the kindness of our own heart. again in the past competitively speaking i'm sure to hire people you have to offer health plans. but in this day of age if this is shifting away from employers

in terms of health care why would you offer this next year or the year after? >> you know what? i think this is a one time -- i think it will only take a year. because i think when you start getting the feedback from the law, from the aca i think the elected officials whether democrats or republicans will say this is an unintended consequence. we need to fix this. >> what do you want to see them do. the 65-year-old employee who has this massive sticker shock and she's not alone going from 5800 to $12,000 a year in premiums she has to pay. what do you want to see them do about something like that for example? >> well i mean personally i'm going to do the same thing we did when chrysler went bankrupt four years ago. we circled the wagons and i told them we won't lay anyone off or cut wages. there are a lot of great small business owners that will handle

at any time same way but be very expensive. >> you think or you're hoping there's some refinement some fine tuning that would go on as they learn about some of these unintended consequences? >> i totally believe that. i know mark. he was a great congressman. i know he didn't want to see premiums and out of pocket expenses go up. that was not his intention. everyone should have health care. we all agree on that. i'm not sure it's really -- the numbers aren't coming out like we thought they would come out. >> final point, if all of those young people ultimately have to pay a premium or enroll in one of the health plans that could help the sticker shock for the 62-year-old in a year or two down the road? >> that's probably true. i have to tell you we found as the workers got over 50 premiums became very expensive. the monthly premiums are more expensive as you get older.

>> so those younger people are willing to pay the $95 penalty for not having insurance this year is that what they are going to do? >> that's what they are going to do. we'll talk them into joining the exchange but that's what they plan on doing. >> i want to know what they are planning to do with the other $2300. >> they do get to keep it. thank you for your time. >> thanks. >> heading towards the close, getting back to the markets, 35 minutes left in the trading session on this first trading day of the year that we focused on so much because of the precedence it sets for the rest of the year. it's a down day. dow down 113 points. apple stock is taking a hit along with the rest of the market today. it's down 1.4%. well off those days when it was trading at 700. it's now at about 550. is 2013 the year that apple returns back to that level. have you seen this

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welcome back. the dow in jeopardy of doing something it hasn't done since 2008 and that's the close the first trading day of the year in the red. what's driving the selling?

>> let's talk about this. we'll start off with big individual movers. we'll begin with continental resources, producers of crude oil. bakken oil may be more flammable than traditional crude oil. fedex and u.p.s. losing ground. both stocks were up big in 2013. herbalife moving higher citing increased sales in china. gold prices started on a positive note. let's finish off with a big down side mover at least in terms of its impact on the market apple. falling after wells fargo downgrades the stock to market perform from outperform rating citing margin pressures when apple introduces another new version of its iproducts.

let's talk about it. if analysts are downgrading apple should you still buy it or what do you do? ross gerber is our bull. he owns 8 million shares of the stock. joining us on the phone is andy hargreaves. you caught in on an iphone by chance? >> no. samsung galaxy. >> i tried. ross, why to you like apple at this point? >> there's not a lot not to like. they have the best products out there between the new china mobile deal which finally got announced. i was waiting for that. it's huge. china is really the best driver for growth in almost every business that's international and now finally apple is in there. it will help drive sales. we expect about 30 to 35 million extra phones sold this year because of that deal. they also have the best computers out there. i don't know if you've been to the microsoft store lately and

looked at the competitors. they stink compared to apple computers. if you look at the entire product line there's no better product line. we expect a very good year for them on top of the fact we expect new product eventually coming, maybe a tv. >> ross owns $8 million worth of apple not 8 million shares. >> andy i was going to say speaking of product lines you're calling from a samsung. tell us why is it that you think apple is under some pressure today? >> well, i was kidding about that. under pressure because all that stuff is great about apple having awesome products. they still do have the best products in most of their coordination. the be market is saturated. when the market is saturated you have a difficult time growing. people are looking out to the next we're and say that may being a great there's new products coming but doesn't

solve the underlying problem. >> how can the market be saturated. everybody in the world doesn't have a cell phone. the market for cell phones is growing substantially as well as the market for smartphones is growing in the double digit rates or above. so by no means do i consider the market saturated for cell phones let alone computers and other products. >> andy? >> the misconception is everyone in the world can afford an iphone. the reality is a small fraction of people can afford an iphone ipad or a macbook. >> more people are getting wealthier than before so a lot of people are going to the middle class, upper middle class and upper class, more people than ever before when you add it up worldwide. >> we have to go. let me say, ross at some point we have to stop going back to the steve jobs years. he didn't play the game where he was in a commoditized business.

tim cook finds himself with this position lack of innovation that people bemoan right now where you don't have a cutting-edge product that is coming out. isn't that a problem for tim cook right now? >> absolutely. that's why they need a new product category. i'll say it again. we need an apple tv. it's the only thing they are missing. huge market. i want will help propel the stock to new highs. until he does that he's going to be under pressure because you can only buy back stock and pay dividends for so long. i do think the stock will have a goodyear and i expect new products or tim cook will have karl karl icahn wanting to have breakfast, lunch and dinner with him. >> thank you, gentlemen. >> thanks guys. half an hour left until the close. dow down 122 points.

nasdaq is down 36. oil was down three bucks. ten year below 10%. >> your father is your financial adviser. >> yes. >> would you trust a computer to handle all your vehicle? some new companies are offering exactly that service. should you really fire your investment adviser and put technology in charge of your investing? we'll look at that. >> here's a shocking story three nfl playoff games this weekend are still not sold out and in danger of a tv blackout. is the sky-high cost of attending a game to blame? that's coming up on the "closing bell". keep it right here.

welcome back. last year at this time the dow finished up 308 points. we were off to the races. >> for the year. >> with this massive freight train that was 2013 because as you pointed out we never finished below the low of 2013 to begin the year. it just continued higher. very different story today, down 120 points to top trading year of 2014. does that presage what is to come. we'll talk about that for a while, i'm sure. >> certainly as we got about 25 minutes left to go in the close.

the dow off about three quarters of 1%. 121 points at the moment. machines are dominating wall street. is the retirement business next? new websites are promising to create an ideal portfolio for main stream investors using computers. >> can computers really replace humans who take the time to make investments based on a client's specific financial goals. joining us both sides of the story here the managing director at hightower, the human in this story. and here on behalf of the machines is chief operating officer of financial planning website betterment. tell us exactly the role that computers play. what kind of service do you provide to clients in this case. >> sure. betterment is the largest fastest growing online adviser. we take the sophisticated wealth management practices of private institutions. we use our technology to make that available to retail

investors of all sizes whether it's mass affluent or high net worth. we do this for low fees as low as .15%. we give people a personalized portfolio. we optimize around taxes and dividends. do a lot in the background to make sure you're getting the best possible return. >> mike can you beat that? >> if all your adviser does is give you advice on asset allocation you should seek out an alternative. in theory if we all acted like mr. spock, this service would be enough. in fact many investors exhibit traits more similar to dr. mccoy. by that i mean there's a significant emotional component in their behavior and that's something that an adviser can help you overcome. we don't believe that the services do comprehensive wealth management but i think they are a great place for people to start and i think by helping

people implement modern portfolio theory it's a good place for investors to learn the basics. >> what the two of you do is more similar than dissimilar. you guys are involved in building out the back end of these products trying to figure out the right inputs in to the computer so people get the right outcome. so many funds and allocation are made that way. what's the fundamental difference between what you guys do and the traditional model. >> i agree with mike. there are a lot of cases where an adviser or human adviser can add value. those tend to be more unique high net worth tax circumstances, people with mouthy generational wealth planning issues. for 99 puerto rico of the folks out there, asset allocation is something we commodityize we can do more efficiently with technology. >> you're the guy could of the financial adviser community because you're taking the direct human relationship out it and

making sure people get the lowest cost most easily available product. >> we trust google maps to tell us how to get from point a to b. we trust uber to get us a car without the going back and forth. that's what we do. >> mike, the cost will be a big issue for a lot of people when they are liking for an adviser of some kind. can you -- again, i ask can you beat the kind of cost that a more technologically based service like eli can provide? >> there's a study that shows over 20 years the average investor suffered consistently far lower returns on average not because of their investment selection but because of the behavioral choices, because of the mistakes they made at market highs and at market lows things which computer programs cannot fix. the kmoshl component, the personal component that comes in for wealth management is applicable to a large percentage

of the investing public out there. >> eli this is a great point. almost similar to what you hear the guys talking about online gambling which is they promise they will build into their system ways to keep you from having self-destructive behavior. >> mike hit the head. investors tend to underperform the benchmarks for their investments. we've gone through turbulent market times and taken a look at what our actual customers do because we built in lots of behavioral guardrails. in a time like now where the market has been up absolutely the right thing to the is rebalance your account. incredibly do it that have discipline to do that whether you're a do it yourself investor or human adviser. our investors have achieved 99% of the returns of their investments and you compare that to something like a do it yourself investor and they only achieve 50% to 75%. >> have you written a haiku for this? he's an award-winning haiku

poet. >> a little known fact. >> thank you guys so much. >> thank you gentlemen. happy new year. only you would note in the notes somebody was an award-winning haiku poet. i love that. where are we? 20 minutes left in the trading session. the dow down 128 points just off the lows of the session for the day. >> snap chat latest victim of hackers. this time personal information of a lot of teenagers, children including phone numbers was compromised and published for many to see. we'll look at the potential fallout. >> 2013 last year the cheapest year for it was line since 2010. i bet you didn't feel that did you? what will this year bring to drivers and their wallets and my local gas station? that story is coming up next. i needed a new laptop for my pre-med classes something that runs office and has a keyboard. but i wanted a tablet for me for stuff like twitter and xbox, so my downtime can be more like uptime. that's why i got a windows 2 in 1 which does both -- works as a laptop and a tablet.

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welcome back. it looks to be the first year since 2008 the major indexes will start the year lower. this after data around the world showing some decent manufacturing activity but it's not just equities by the way that are showing a risk off mood, the ten year back below 3% level. oil was hit today as well. we got about 15 minutes before the "closing bell". >> so today's selloff not great news for equity bulls but we

have some good news for drivers and their wallets. final some good news for us. >> reporter: good morning. happy new year to you. there's some good news for drivers as they look at gas prices as we head into 2014. look experts are saying that there's going to be some volatility but there is a light at the end of the tunnel. gasbuddy.com saying we go see a drop in prices to the tune of ten cents from 2013 yearly average. that would push the yearly average under $3.40 a gallon. we haven't seen that since 2010 when it was $2.78. now the major reason for the anticipated decline in retail gas prices is morrow bust supply coming out of the united states and canada. the recent shale boom putting north american markets in focus with less dependence on the international market. there are, however, always risks. we have to highlight those. refinery maintenance is an issue. big storms that could spur unanticipated shutdowns also a wild card. geopolitical threats all allow

for upside surprises. in addition gas price will see volatility in the spring and summer when refineries switch from the winter to summer blend which is typically more expensive and when demand tends to be stronger because drivers are hitting the road for summer vacation. overall outlook for gas is positive. we're likely to see that top. but a lot of things have to come in line to make that happen and that's a hard thing to predict. guys back to you. >> that's the silver lining in the fact that oil and gas are down today. >> i still marvel that we're actually celebrating gas could go down to $3.47. >> there's almost 13 minutes left to go in the "closing bell". 121 points off the dow. s&p 500 is off 16. nasdaq off 35. watching them closely. >> not such a great story for the bulls in 2014 but our next guest david nelson says buy this dip.

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ten minutes left if you're just joining us yes, minus signs. we're not used to seeing those. dow down 116 points to start off the year in 2014. very different from what we had last year when the dow finished up 308 points to begin 2013. let's talk about it. i was kidding earlier, we're missing the dip buyers right now. here's one, david nelson chief strategist at bell point management asset. you would buy. >> i would. i'm a bull on 2014. i think it's important. let's step back and take a breath and ask ourselves has anything changed in the last 48 hours. i don't think so. other than the pmi coming out of

china that's the bad news that's hitting this market. >> or tax laws. >> some tax laws. but that's not bad news. taking some profits on good news last year. i think the bull market is still intact despite today. >> there are a lot of people waiting for a bigger move lower, a correction as we like to call it as much as 10%. >> you could play around those wiggles and think you can time it. more power to you. i came into this year pretty fully invested and i expect to remain so. i think what i'll be doing as time goes forward if there's dip like this in the future i'll use it as opportunities to upgrade the portfolio, get rid of the losers. >> get rid of the losers. are there sectors you would like better than others right now? >> less sectors for me. i think a void would certainly be utilities. interest rates will rise. i'm still focused on secular growth. i want to be in industries where there's some kind of tail wind and, you know, certainly the airlines have a tail wind.

secular growth stories even in food we're seeing it with companies like food people are starting to live healthier life styles. >> even with the fed going to start tapering and longer yields going up. >> the challenge for the fed is really how fast that move higher is and i think they are going to have a handle on that. we know we're going to 3.5%. how fast we get there is more the issue. >> thank you. we'll come back with a closing countdown. first one of 2014 and then after the bell the chairman of ntsb will be joining u-giving us the latest on the investigation of the oil train explosion up in north dakota and why the federal government just issued a new safety warning regarding that coming up. mers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.

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that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. about four minutes left. here's how we stand today. selloff from the open this morning, even though japan was up last night, japan just continues to move higher after a record year last year europe was lower, so our market opened lower today and here we are finishing down about 119 points. let's look back one year. remember the big year we had, starting with january 2nd of last year that 300-point move on the dow and we just kept going higher and that's what today's selloff looks like right there. not a big deal yet. just saying. ten year yield, actually pulled

in a little bit today. down to 298 after closing at three plus we were at 3.03. one quick stock, the stock we love to hate or hate to love twitter. wouldn't you know on a big down today it's up almost 6% right now, $67.33. bob pi >> people are still on acceleration. china pmi data was a real problem. emerging market eem was down 3.5%. the weakest of the some of the major sectors out there. >> waiting one day anybody wanted to put money to work they saw this market selloff right from the get go. why not wait another day. nobody is panicking.

market can't go up in one direction forever. you need some cleaning out days. unfortunately it happens on the first day of the year. >> here's the question we know there are people lying in wait waiting for a pull back of some kind but how much of a pull back will they get this time? over the last year or so they only got 5% a few times and then the market took off again. if you're waiting for a 10% correction you'll miss it. >> what you'll see people do we'll get a snap back rally tomorrow. >> you think? >> still a lot of momentum built into this market that needs to be worked off. people coming into the market i expect them to start buying more fervently tomorrow not in great strides but a little bit more. >> if you're interested in u.s. economy our data was good. employment numbers were good. new orders were good. overseas in asia a little bit of a concern. i agree. need to have a global economy. we're expecting a global recovery. we heard that phrase many times

in the last few weeks. that's an important part of it. right now the u.s. economy is doing pretty well. >> also from a trading standpoint you don't see panic or even capitulation which is a strong word in a down market. the defensive sectors have sold off as well. consumer staples, industrials they sold off the hardest from a sector standpoint. this is just a little bit of a clear out. people are taking some money. we're pretty neutral on the market neither over bought or over sold. we come in at 1% or 2%. >> even with the gains we had, late in the year you don't think we're over bought here? >> i don't. in fact we have some room. in the models we don't get above 1880. >> let's do this. we're wearing red ties. let's all agree to wear green ties tomorrow. thanks, guys. see you later. that will do it for first hour

on this first trading day of 2014 the dow down 130 points, a far different kind of trading day than we saw at the beginning of 2013. stay tuned now for hour number two of the "closing bell" with kelly evans and company. i'll see you tomorrow. welcome to the "closing bell". i'm kelly evans and here's how we're finishing the first day of the year on wall street. not a pretty one. here's a look at the major indexes. the dow off more than 100 points. 133 in fact here at the close. about .8%. nasdaq getting hit off 30 points. 16 points lower for the s&p 500. 1832 is the level there. we start the day in the red. does it matter? let's ask the panel. joining us kelly tausche, carol roth and joining us from more on the markets is "fast money" contributor guy adame.

this is like the weather it's raining on your wedding day. >> i'm looking up to make new rules of thumb since we wore out the other ones. i don't know -- if you had any reason to do something today as opposed to tuesday, 2014 it's a new tax year a little bit of a counter move in the asset classes. >> do you buy people are selling today because they didn't want to sell on the 31st? >> has to be a subset of people where that's true. so there's something to it. i don't put a lot of weight on a lot of what's gone on today. it took one day. >> are you serious? 140th of last year's gains. john ford speaking of things that did okay twitter was up almost 6% back above 67. >> splunk up better than 4%.

not many tech companies did spectacularly well. low volume. low volume across the board. except google and texas instruments among the stocks down were trading at over 100% of the 30 day average and the stocks that were up, twitter, splunk, those had decent volume. >> this seems to be no method behind the twitter madness. there are other forces at work during twitter trading so it's hard to find at that reason on any particular day why it might be up or down especially with no news. you look at a market today, we're very quick to point to history and a lot of people today are talking about this is the worst start to the year since 2008. there's nothing in common between this year and 2008 if

you think about what's going on in the economy. i cover the banks. a lot of people are still bullish on the banks. they are trading below book value. more consumers will have demands for loans and buying houses and cars instead of refinancing then you think the banks will have a lot of business. >> guy, what was weird about today, you had major u.s. indexes down even though the global pmi data was okay about manufacturing activity. gold jumping. the dollar was stronger. it was a weird day. >> as bob mentioned before doesn't seem like a lot of folks are back. what stuck out to me today, it's encouraging, i think everybody wants the pull back. all year long i want the pull back. then when you finally get something that even looks like a pull back everybody is too scared then the fear mongers come in. number two, when stocks trade well on lousy takes which today was, airlines solar stock you have to take notice.

maybe they are trying to tell you something. i still think -- the message is they are strong stocks and will continue to be strong. when stocks are imper vivious to lousy takes that stands out to me. >> the information coming out of china, i know it's one day but do i think people -- we're paying more attention to the little bit of the slow down coming of the numbers, factory numbers out of china and i think china and japan the number two and number three economies in the world are the ones to pay attention to this year. so i think if there was anything that stood out today that was one thing that stood out to me. also there may be some people who were cashing out in order to invest in colorado in the marijuana business. >> no anecdoteal examples. did you drive across state lines to investigate? >> not my speed. i'm sure i know several people who did. >> very good.

your sources. mike, i'm curious, what other big moves. oil dropped $3. we had the derailment of the train in north dakota. this week has spurred now the government looking into more safety practices and going to start this whole keystone pipeline debate all over again. what do you think is going on? >> very hard to say. i don't trust a move today as having a lot of a message simply because i think there were these asset class unwinds. one thing about twitter it's not in an index so it can do what it's doing. it doesn't seem to make sense. oil is in that category. i don't know what the trend is in oil. it's sideways. >> absolutely. we started the year exactly where we started last year. gas prices have barely budged even though we're in the middle of this transformation period for energy. peter, what stands out to you

about today? >> i'm sorry. >> what stands out to you about the trading activity today? >> i think watching gold act like that today, it surprised me a little bit. i think it's a rotation out of some stocks and into gold. gold had a bad year last year. stocks had a great year. maybe we're setting something up there. but otherwise this doesn't surprise me. 120 point move 130 point move on the dow, it didn't surprise me. as a matter of fact i would like to see this happen a couple more times. >> that's what guy was saying. peter, do you buy the theory the pros are not on the desk today and that's why things look aask you? >> there's a lot of theories. beginning of the year there's a lot of -- there's a lot of just regurgitation. i don't worry about it. >> it's interesting because one of the catalysts if we want to talk about what turns things around in 2014 what mears a better stock market performance

or economic performance it comes down corporate balance sheets. what are those piles of cash going towards? more m and a. more acquisitions. more cap x. going to employees in the form of higher income. kayla, what do you hear? seems like a lot of people are saying finally we'll have more activity at least when companies are using, putting that cash to work snoompry time i talk to deal makers about m and a one think they point to is gdp. when we saw that revision last quarter, people started to think maybe executives would be willing to put money to work in deals but i don't think that confidence is there just yet. we need a couple more quarters to sow the seeds for real mergers and acquisitions to take place. they have been bore roger money for buy backs because of low rates. the hope is once we start to see growth those companies feel more confident to put that money into hiring, into deal making in stead of other places.

>> some tech places. >> m and a can be a big issue, though in terms of employment because you think about what happens when you put -- when you have a lot of m and a deals you have a lot of consolidation and that leads to people having jobs. there's a trade off there. we want to see more m and a activity but what does that mean in terms of the employment numbers. that's something to keep an eye on through the year. >> john, a lot of tech companies will watch for this. they have huge stockpiles of cash a lot offshore. whether that comes back or whether they feel there's more broadly to put it to use. >> some companies doing m and a are huge. apple sharply accelerated their m and a in 2013 just based on trend lines. expect to see that continue. google doing quite a bit of m and a. a lot of that cash stock piled overseas. no move on repatriation.

but they have dipped their toe in the water on overseas acquisition. we may see some more of those maybe sizable ones. >> to carol's point, these companies don't really need to right size any more. we saw margins peak in 2013. they already spent the last several years really right sizing their workforce. i don't think if we see deals we'll see substantial layoffs. most companies are at their leanest point in several years. >> let me float this theory. companies are becoming such targets from activists, from people generally who feel they have all the money we don't that occupy the boardroom could potentially be a problem if they don't do something themselves. >> if it doesn't happen over the course of this year i think something deep certificate wrong because really even a year ago it seemed that was the logic that should have prevailed. the other thing to keep an eye is absolute cost of financing is not going down. if there's a perception that the

window access this ultracheap historically generous debt market is going to be closing then maybe it catalyzes some of those events. >> there's certain positions, you don't need two cfos or two heads of marketing, you don't need these duplicate positions, so you have to be very careful when you talk about m and a even with a right size workforce there's certain things you don't need did you ply indicates of. >> guy adame and of course we appreciate peter costa joining us. much more ahead on this down day to start the year. coming up next full coverage and seema mody on what drove today's selloff and whether it's a bad sign for the rest of the year. head of the national transportation safety board speaking out about monday's train derailment and fire in north dakota and if rail is the safest way to transport crude oil. you don't want to miss that

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welcome back. it looks like the new year's resolution of many investors was to begin 2014 by taking some profits off the table. is this a bad omen for the rest

of the year? let's see what we have here? dom, first to you what jumps out to you about the action? >> it's interesting all day we highlighted this idea if the first day is down there's some times or x percentage of times when the rest of the year will fall that way. loin say this because i got a note from the chief global strategist at wheaton and he said yes that may be the case but in each much those times where you saw gains over the past five years in the dow and s&p, stocks were not nearly as over bought as they have been this time around. that's just a jargoning buzz word to say markets have gone up very far in a short amount of time and they are due for a little bit of a pull back. not a reason to panic at all. >> a pretty indiscriminate pull back. every stock in the s&p 500 looked negative. >> the selloff might be specific to today. i think it started with weaker than expected pmi data from

china. that started with emerging markets selling off. that gave u.s. investors a reason to book profits as well. aside from that the latest sentiment survey shows optimism in the market has declined. perhaps that is a reason we saw markets move lower. given today's mini selloff there were some bright spots. bank of america trading in positive territory. after citigroup. >> that's true. in terms of the dow walmart did okay boeing was one of the outperformers. a lot of people were taking note of the surveys telling us individual investors were getting extremely bullish going into the end of the year and wonder if this isn't expected that we would now be getting a bit of a pull back. >> i think what you're seeing here you're seeing folks shed some of their stocks maybe weaker links in their portfolios and taking the profits. that's normal to do that after such a big run last year. i also think until next week i

don't think we see a lot of the big heavy hitters trading stocks. everybody is still very much on vacation. calling some of my source many weren't sitting at their desks today. until next week i think we can't make any major calls here. >> i want to bring up one thing. we talked about the january effect, you see a bump in january because people sold off their losers last month. remember we didn't have a down last month. everything was up. so there wasn't a whole bunch of tax loss selling that affected it. maybe it has an effect of stocks going up because of that january effect. >> warren it was interesting, people joking 2014 doesn't begin until monday because that's when everybody will be back at their desks. >> one way to determine that look at the volume. it was very light. i would agree with dom, we didn't have that big selloff. take some profits now and start the year --

>> what suddenly makes 2014 different from every year in the last five seeing people take their profits today instead of a few days ago. >> because of the uncertainty. if you can make some sales and lock in profits now, if you lock that in now you got a nice cushion at the beginning of the year to play with. that gives everybody more of a comfort level than just trying ride out this up market because you don't know when that will end. >> seema? >> what was interesting was the big move in the commodity space. oil moved lower and gold shares rebounding today up about 2%. that helped some of the miners. we'll have to see if that dog to darling trend continues. >> there's an interesting point here that one way to explain what's happening today is that maybe people will start to believe in better growth and maybe in even better inflation in the year or two ahead and

that makes a case for some of these assets like a gold doing better. what do you think, morgan? >> i think that's a possibility. i want to go back to why january not december. taper starts this month as well. so i think that's something to look at. in general i'm very positive for the year. we had the china number wasn't great. we also had stronger than expected construction data. we had stronger than expected manufacturing data here. we had better than expected jobless claims. i'm very bullish moving into this year. >> seems it's all coming up roses. might be the year the economy does better but the stock market doesn't. >> remember we talk about this idea when we have such a strong move to the upside for stocks they are fold by another strong year. let's not forget we have well well more than double the intraday low back in the depths of the financial crisis on march 9th was 666. we're at 1800. maybe it's time. we haven't had a correction of

10% or more in months. maybe it's time for investors to get a chance to take an opportunity to buy on a dip if there's a significant one. you should be hoping there's a significant correction this time around. >> haven't had a real one since august of 2011. >> it will come down to fourth quarter earnings if companies can hit the ball out of the park when it comes to fourth quarter earnings, specifically revenue growth will get wall street excited. >> they lowered the bar so much. if they don't clear it there's no hope. thank you guys. happy new year. >> it's another day and another security breach. millions of snap chat users names and phone numbers exposed online. well discuss how safe your kids are on social networks. that's coming up next.

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welcome back. user names and phone numbers of 4.6 million snap chat members have been hacked and posted online. it's raising serious concerns because a lot of snap chat users are teens. some are younger. josh lipton has more. >> reporter: kelly, snap chat getting hit by a hack attack. you might not use it but your kids probably do. the site is popular with teens, 20s something and adults. you snap a photo, sends it to a friend they check it out and the snap is supposed to disappear. 4 million users had their online names and partial numbers leaked and posted on a website called

snap chat db. hackers say they want to draw attention to snap chat security or lack thereof. they wanted to put pressure on the company to respond. remember snap chat is hugely popular. snap chat had over 13 million people using the app in october. it's the sixth most downloaded free app on the apple store. snap chat did not respond to our request for comment. back to you. josh do you know how many users are teens? >> reporter: i don't know that breakdown, no, kelly. >> it seems like quite a few of them. stay right there. we want to discuss this. one of your colleagues said this could cost snap chat $3 billion, $4 billion. does this raise questions about the viability of their business? >> the appeal of snap chat it does. it's phone numbers, user names. it's also was hacked kind of made a point.

icht not as it's not as if it can get to anything you can do with it. honestly i just also wonder how many people in that kind of target demographic of adopters expects any privacy or expects encryption. >> snap chat seems to be this there was a sense people could get access to the information, images themselves is one thing. this is a list of users names and partial phone numbers that people have to go and match up anyway. how much of a threat is that for snap chat's appeal. >> this is an important warning shot for snap chat. this is not the thing that causes people to run away from it in droves by any stretch. but they had several months to try to address this. hackers have clearly targeted them that something attractive. hackers know they can make a name for themselves. if the next thing is that they get access to people's to, to to information on snap chat that gets in the way of that

fundamental premise that snap chat is making they could be in trouble. >> i wish it was publicly listed already. >> it's interesting. i think this is just one of those latest instances that shows the back end of snap chat resembles swiss cheese. there's security experts for months hacking into snap chat to prove a point to actually say look your photos are stored in a database on your phone, on your iran phone iphone and ipod. so if there's something you're transmitting over snap chat that's unlawful court of law can get it. there's a lot of holes you can poke in the actual business model of snap chat and the more this back end proves to be weak i think -- >> that's important. what you're saying is any, does this affect any image that is sent over snap chat but just in cases where they are downloaded or copied.

>> if there's a reason for someone to go after this. some of the cases have been divorce cases where there's the expectation that maybe the partner was cheating via snap chat or that something was provable on that platform. and insider trading has been a cause for concern too. are people passing stock tips over snap chat because they believe it disappears. the ideas and thesis that snap chat has been marketing itself on it disappears it's secure that's weakened a little. >> but evan spegle said those images are not stored. >> i'm not going refute what evan says but i find it hard to believe that anything that's been transmitted at one point in time you can't back into it. kelly, this speaks also to the maturity of the organization and not to pick on evan for being 23 years old but there were warnings about the security to

snap chat that sort of were poo-pooed and that's why this organization is saying they are trying to bring this to light. for an organization to get $3 billion plus offers i think it will make potential acquirers think twice about the maturity of the organization how they respond to real issues and, again, where those holes are in the system and i definitely think that this is something that is already a frothy evaluation. >> josh did you hear that kind of talk? >> i didn't hear that today. the issue goes back to john's point, this is a hugely popular app. what will be the reaction by teens and 20 somethings and adults that use it. if you build apps you see these headlines and maybe it makes you think twice about your own apps. maybe there's ripple effects. >> the reason why snap chat is so popular because it's on mogul. got millions of users in that

want demographic and coming back day after day. this is not the end of the road for them. they have to build from here. one of their key features is to be better security. >> should a parent be worried if their kid uses snap chat some vital information about them has been made public. >> it's good warning that whatever information you're entering into these databases it's not entirely safe. make sure you're aware of that and read fine print closely. we're talking about the snap chat valueation and acquisition. i wonder if it changes m and a. evan speegle turned down an offer previously. maybe they do think we need more experts, we need infrastructure of a bigger company. >> we'll see if they jump when the iron is hot. >> kelly, a girl stole a love note that i wrote in eighth grade and when i confronted her about it she said never write

anything down you don't want the whole world to know. >> great advice. thank you josh. it's only the first day of the year. looking at a live shot outside of cnbc headquarters across hudson river. first major storm is expected to arrive any moment. we have the latest weather forecast. >> reporter: you know it really is the perfect recipe for this winter storm. the snow the wind and the sudden cold. we're talking about waking up to ten inches ever snow tomorrow as well as negative temperatures with that wind chill a factor. it will be brutal. already the new york department of sanitation has sent out 300 salt spreaders to try to get ahead of the snow. they got about 1,000 snowplows standing by. we've seen residents today snapping up snow shovels as well as stocking up their pantries

with food and water in case they have to hunker down for a couple of days. officials are telling people if they can stay home stay off the roads. if you absolutely must go out be sure to stock your car with a flashlight, clothes, food water, just in case you get stranded. already we're seeing about 500 cancelled flights at new york area airports. some passengers are going to be stranded at the airport overnight. officials are planning to help them out, get them comfortable for the long haul. we are awaiting to see if any schools will be cancelled. we're hearing about some cancellations in other parts of this northeast area but right now we're standing by to find out about new york schools. we're told that decision will be made in the morning. kelly, back to you. >> stay warm out there if possible and we hope everyone stays safe. i imagine trading volumes will be light tomorrow. monday's train fire re-igniting the debate safer way to ship oil. the head of the national

transportation safety board speaks with us next. keep it right here.

[ male announcer ] this is the story of the dusty basement at 1406 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall off roble avenue. ♪ this magic moment ♪ it is the story of where every great idea begins. and of those who believed they had the power to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ ♪ welcome back. a federal warning about the safety of crude oil transported through north dakota and montana from the bakken region.

the fire is still burning from monday's derailment of a train carrying oil slammed into another train carrying soy beans that also derailed. joining us now is deborah hersman. her agency is investigating that accident. what can you tell us after the safety warning was issued about the quality of the crude oil moving through these pipelines what happens next? >> one of the things that's really important to take note of is the increase in both ethanol and crude that has taken place as far as shipments in this country. both are up by over 400% since 2005 and clearly there's a lot that's good for business here. but there's also some safety concerns. >> especially high liked by the tragic derailment that killed several dozen people and i wonder if this means that the obama administration is now going to move towards saying that crude, for example, has to

be transported via pipeline ironically it's the hang up of the pipeline extension. >> you know, we can see crude being transported in many different ways and certainly here in this area with respect to the bakken fields they didn't have a lot of infrastructure in place as this boom occurred. they are putting much of that in place. we're seeing a lot of transport by surface operations, especially by rail. a lot of unit trains moving all crude out. we've investigate ad couple of accidents. you mentioned one that's being led by canadian officials. we're supporting that investigation but also had crude derailments here in alabama and north dakota and so we're paying very close attention to the safety on the rails now. >> is this a matter of beefing up measures because part of this there will be unannounced

inspections, there will be a couple of things meant to try to make at least the quality of the crude moving through these pipelines better but is the ultimate goal here to move less crude over train and more through pipelines and will that mean more investment and infrastructure build out of the pipeline network? >> i think it's really up to the people who are moving the product to identify the safest process to do that. whether it's by pipeline or by rail and to identify appropriate risk mitigation measures. that's where we've issued recommendations about improved tank car standard we want to make sure that if you have an accident, first of all i want to prevent any of these accidents, collisions derailments. but if you have an accident those tank cars are the last line of defense they need to be robust enough to contain that product and not result in a chain reaction event like we saw in north dakota. >> do you think that the latest technology means that the newest built rail cars are safer and

that it will be less inclined to have these kinds of incidents? >> well there are some improvements that have been made to the rail cars recently but, again, we got hundreds of thousands of these rail cars out in the system. they are out there for decades. we have recommended that there be improvements again, to the designs that exist now. improved strength, punkc turn re resistance. we think more needs to be done that they need to change the way they are building these cars but retrofit those cars that are out there. >> there's one other issue about moving sthuf byuff by train than by pipeline. the rail network was a way to connect people and transportation hubs. sending oil through that you're

putting a larger part of the population at risk. do you have specific concerns about that? >> i think there's going to be risks inherent in any movement of this product. you've got to identify those risks and mitigate them. we see releases involved with pipelines and we see releases involved in train accidents. in the last accident we saw a significant amount of fuel that was released there so we want to make sure we're protecting population center we're protecting the environment and we're making the right decisions and we're mitigating the risk. there's a lot of different ways to do that. >> do you feel this is a final step in terms of the reaction to the four major incidents that have occurred in the past six months on these railroads? >> well there's a lot of work that's ongoing. a lot of interest. certainly we have a lot of congressional interest in these accidents that have occurred and the regulator, department of transportation actually has an ongoing rulemaking activity

looking at the strength and integrity of these tank cars. that process is moving forward. we want to see it move to completion and that these tank cars that their standards are raised and the strength and integrity sim proved. >> okay. ntsb chairwoman deborah hersman after those safety recommendations have been issued today. thank you so much for being here. meantime a big deal in the cyber security world has just hit. >> kelly, check out shares of fire eye. they resumed trading. up 17%, 20%. 16% after the bell. the company announced fourth quarter and fiscal year 2013 sales that topped wall street estimates. also said it acquired privately held a cyber security firm for about $107 million in cash plus 22 mill in fire eye stock and options. this is a hot button topic for the entire world with the likes

of snap chat being breached and the ash get data being breached. cyber security in the fold and fire eye which just went public last september and doubled it's ipo price making billion dollars of an acquisition in cyber security. a big deal. >> and mandiant is a big name. they looked at whether it's cross border cyber security. they have been in the middle of a lot of those investigations. fire eye was one of today's big losers. it was down 5% at the close. >> 41.13. down 5%. still like you said this just tells you a lot of these companies especially in a topic like they're trying to perhaps strike while the iron is hot. this is at the front of everybody's mind. companies may start to ramp up their spending on cyber security on trying to secure their data and that's why this cube huge dealing for fire eye. >> this deal as telling for 2014 as any of the stock market

activity today. who would have thunk it. the colts and three other teams struggling to sell out this weekend's games. a fan will tell us why he chose not to buy a ticket. ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.

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bengals and indianapolis colts are struggling to sell out their games. the broadcasts could be blakds out in their own cities if they don't. a packers fan just turned down tickets as he joins us from milwaukee. also with us multitalented football expert dominic chew. why aren't you going the game? >> thanks. for me quite honestly it came down to a simple question of weather. the highest forecast is 0 degrees on sunday in green bay. it's going to get colder. it came down to weather. >> up live near green bay. you have been to games much about that is at least as cold. it feels there's more to this story than just weather. >> well the truth of the matter is actually i lived in california for four years so my blood is a little thinner. i have a routine with my buddies. we get together every sunday we go a local establishment and

watch the games together. when you weigh everything together it wasn't enough to overcome it. >> it's interesting because there's a lot of people in the industry that say television contracts that have made the nfl what is it today are actually part of the problem because you and the guys can get together watch the game and perhaps enjoy the experience that want way. is the price of the tickets a factor as well given how expensive it is to get there. >> i think on an individual ticket basis the price might not be the fact josh but what i'm hearing from season ticket holders is they were asked to subscribe after the thanksgiving day game which we embarrassed ourselves on and they are asked to put up a substantial amount upfront and if the packers don't make the playoffs they don't get that money back until it gets applied to their next season. what i'm hearing people weren't willing to make that commitment to let go of $2,000 $3,000 $4,000 for nine months. >> this has been simmering in the background for the nfl but

with three teams and not just green bay which had a couple of issues but some of these others the bengals and colts as well is this a breaking point? >> this is interesting. what this could signify is a tipping point for the nfl and sports media business overall. what you have is television rights. i would much rather go home watch it on my couch with an hd television where i can see the snowflakes themselves than go out to minus 30 degree weather at lambeau field. i'm a die-hard 49ers fan. but what it comes down to is whether or not this signifies the beginning of a shift in how assets are priced in the nfl. you do not charge as much for tickets because people don't go there are, are television rights worth more because everybody is flocking to their homes. >> this is what's so interesting if television -- used to be the tickets were protected because they were the major revenue source but if television is now

the major revenue source does it matter if a lot of these franchises have to cut their ticket prices significantly to keep people watching the games. >> thirngs. you're already seeing evidence of it. every time -- talk about the boom in regional sports networks. fox sports has them all over the place. when schools, colleges pro teams, all these baseball teams, football teams sign tv contracts and sign stadium rights and buy teams and sell teams a lot what comes along with a transaction are the television rights that go with them. it's the reason why the dodgers sold for as much as they did because all of a sudden you had tv rights lucrative ones going with them. that's the reason why you see a lot of this stuff happening. maybe the seats don't get packed as much as they used to or maybe it's cheaper nine can't help think what white elephant these stadiums may be. if you never went in person to

watch green bay play again would you have any problem with that as a fan? >> i don't want to say i don't ever want to go lambeau field to see a packer game again. i like to get to one game a year. football is a unique sport in that the in stadium experience is much different than watching it on tv. there are so many little things that happen that when you're in the stadium sometimes you don't cho what's going on. the way they have expanded these game coverages with replays and commentators you get a better feel for the game watching it on tv. >> i've had people joke the best invention is the yellow line that appears on television when you watch the game. maybe they need that in all the stadiums. >> right. >> first of all, it didn't do well with hockey when they put that cloud around the puck to see it tynes. we're not even touching about the mobile smartphone tablet aspect. fans can go to a game now and

get all of those experiences if they want possibly on their iphone or android phone. this is all going broadband. the whole thing is changing in the next five to ten years. >> despite that it's still not worth paying for parking and concessions. they rather be at the bar watching it on their mobile device. >> paying $5 for a beer at the bar versus $12 or $13 at the stadium. >> last point before we let you go? >> go packers. >> i had a feeling. thank you so much for being here. what's clicking on our website? our hot list is up next. do you think today's downturn is a bad omen for the rest of the year. tweet us your thought. tdd# 1-800-345-2550 you read this. watch that. tdd# 1-800-345-2550 you look for what's next. tdd# 1-800-345-2550

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today. huge following for our floor director on the nyse. the story has racked up about 12,000 readers already and the story is going and going and going. we have jeff cox, one of our top writers. he took a look at problems that janet might face if more positive news doesn't come out. the readers are just following right through. and then our third one also a subject that you talk about. the oil field and how it's transported by train. i'm looking for it and i'm going to grab that interview and put it back in the story and i'm going to get another bite at the apple for this one. >> that's how it all works. such an important issue, already getting requests for transcripts already. it looks like that confirmation

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>> welcome back. if you missed it the dough finished down triple digits and we wanted to know if you think this is an omen for the rest of the year. here are some tweets that stood out to us. this is what happens to markets when robini turns bullish. that's true. and some of you tweeted us with haikus. timothy tweets the stocks were rising. when that is not expected then they fall today. i love that one. and john tweets when 2014 is done normalcy will return. that seems like a great point to leave on. >> i didn't say that in haiku form but i can if you want me to. >> from way back in the day we have a piece of frozen tundra.

i'm particularly bummed about the game not selling out. it's a setting of supply and demand. >> this is potentially going to be a problem for a lot of jurisdictions. if you say the ticket price collapses, maybe it's not a huge deal for the teams like it would have been. these things if you look at some of the new ones they are like, they are shopping malls. >> yes. they often borrow to finance some. >> and i have to say, i don't think -- it's definitely aun of these things. the fans in seattle think that they're part of the game that their noise wins games for them. >> that's keeping people in the seats.

carol are you a football fan? >> i'm a huge football fan. we are stuck with jay cutler for the next seven years. they should not be complaining because they shouldn't even be in the play offs. >> some bears had a good day in the market. i guess bears generally did. unless you fear twitter. >> i think it's very interesting. going to have to respond. >> great point. thank you guys so much for being here. happy new year. "fast money" is coming up. i think you guys have got weather plays? >> we have the ceo of two companies that might actually benefit from the storm.

a top performer up 57%, maker of generators and also compass minerals which sells the ice to highways and businesses. >> i think we should go long chocolate makers too, just from personal experience. >> that's what you do on a snow day? >> absolutely. a little nestle. >> we'll trade it. "fast money" starts right now. here is tonight's line-up. apple starting the year off in the red. but we have got an analyst who says the stock is still a buy. and it's not all bad news. gold starts the year off shining bright as metal shows new signs of life. will it last? we have got the two ceos of two companies who might be pretty happy. our