releasing minutes from its latest policy meeting. let's take a look where the markets stand pre-release here. we are basically flat-lining but it is important to note we have big moves in some key sectors, energy for one is up about 1%. retailers surprisingly also pretty strong. energy, we cannot ignore the big jump we have seen in natural gas. that's largely because of the weather. let's go to steve liesman for the fed minutes. >> the federal reserve at its january meeting had a taper debate and had a guidance debate. the fed, couple participants at the meeting questioned the taper and citing labor market slack and low inflation. several participants also say the taper should continue unless there is a change to the outlook. i want to give you specific language. a number of participants noted if the economy deviated substantially from its expected path, the committee should be prepared to respond with an appropriate adjustment of the trajectory of its purchases. want to put that up against the comments from janet yellen last week who said a notable change

in the outlook, and here we have deviating substantially from the expected path. the fed said it wanted to have a discussion that would soon be appropriate for the committee to change its 6.5% unemployment rate threshold for forward guidance. we are already at 6.6%. the guidance is 6.5%. they had this debate over using words or numbers to guide on rates. some suggested a greater emphasis on lower inflation in the guidance, some suggested greater emphasis on economic guidance. it might be appropriate, some said, to raise the funds rate relatively soon. these are obviously the hawks at the meeting talking. a few say the policy rules suggesting raising rates before the middle of this year. members saw no change in the outlook despite the weak december jobs report and some saw december payrolls as an anomaly perhaps due to bad weather. there was a lot of talk in these minutes about low inflation, saying they need to monitor the low inflation numbers very carefully. they also debated the reasons for the drop in the

participation rate which is an important issue because it has to do with whether or not there's a lot of slack in the economy or not. people who dropped out, are they coming back to the work force and overall, the committee saw continued labor market slack. overall, there was a debate about the taper, there was a debate about what to do with that guidance. not a lot of decisions made on the latter one but you know how they decide on the taper. that was to keep going. what we're looking for is some kind of guidance, how much weakness is too much weakness for tapering, and we got some language today which is similar i think to the language we got from yellen last week. >> stay with us if you would. let's bring in jerry levornia. your initial impression of this? the fact that they had the debate on both fronts and people were talking about raising rates possibly, possibly in the middle of the year would seem to be at the margin hawkish to me. what do you think? >> it would, but there are a lot of people now on these committees, a number could mean a handful or less. to me, those minutes broadly

reflect what chairman yellen said last week. the fed is going to continue to taper, it will end late third quarter, early q-4. >> it's worth pointing out we have heard from janet yellen in person since this meeting, therefore we were kind of sifting through for gems we didn't really expect. >> right. i think the real question in this is what does deviate substantially really mean. it will mean different things to different people. we obviously have hawks on the committee who have been talking about the possibility of raising rates for awhile. in fact, we have export and import prices that show when you pick up the commodity components that there's inflation accelerating. the ppi today showed a lot of acceleration in inflation but because wages are held in check, there's not much chance of getting through to the cpi any time soon, really. i think that's what we're looking at. we don't really have inflation on the doorstep. on the other hand, we have the other anomalies in the economy. there's a question about whether all the weather effects are really due to weather. there have been a number of stories written about how the

economy has problems quite apart from weather. that will take awhile to sift out because the weather continues to be a problem. even next month, we will be talking about weather effects. >> isn't it really not a surprise they are continuing to have this debate? any sort of economic data release that we get from january for the next month, maybe even two, will be impacted by the weather. we don't have any clean reads. the fact they are talking about taper, is that a big deal? >> no. i don't think so. i think you are absolutely right. what's really the shame is we don't really have a way of figuring out how much is weather. i think bob is right. there are other issues out there. i will say when bob said that, that it reminded me of parts i read in the minutes which say the fed is pretty confident about the economy, guys, not just the federal reserve members, but also the staff. they reiterated in the minutes that they see stronger growth this year and in subsequent years compared to 2013. so that's the base workout. what deviate substantially means, you guys are right, it is unclear. i would think if you cut your

growth rate in half or if you have a sustained period of weaker growth, than to say that 180,000 average we have had, that could make that case. but then there's this other issue which i talked about earlier today, does the fed just really want out of the qe business and what they really want to do is guide up and down the economy based on rates? i feel like that's where they're going here. >> can i just double-check with you? what janet yellen brought to congress when she gave evidence since this meeting is the fact that they were aware of the market turmoil, the emerging market situation, and didn't think it was impacting the economy. is that not in the minutes that you are seeing here? was that additional that she personally brought forward? >> i did not see that. i did not see anything on the emerging market. it was a little -- i don't know the date on the emerging market turmoil, simon. if you could remind me. i was very surprised to see it in there. i thought that the emerging markets had kind of blown up -- >> early january. >> yeah. i'm not really seeing it. it was not a big issue of

discussion, if it was in there at all. >> a last word from you and we must move on. >> last word, on the economy, i will talk about that -- >> housing must be something -- >> absolutely, housing is fine. this is weather. last year, private gdp grew almost 4%. private gdp last year grew 5%. economy has a lot of momentum. the weather is distorting things. the one thing we will get this year is a lot more government spending, both federal and importantly, state and local which is 50% larger in size. the local governments are running big budget surpluses. that money is going to be spent. >> what's the bottom line? you are still sticking with 3.1% for quarterly gdp, more than a percent above consensus? >> it's so early. we are not going to get the first snapshot on q-1 gdp until april 30th. there are two more revisions after that. i continue to believe growth is good and ten year yields are going to 4%. >> we have to leave it there. thank you for joining us with that breaking news.

we are following another big breaking news story at this hour. take a look at this live pictures from ukraine, where protests have again turned violent. brian sullivan has been following the situation from sochi. brian? >> it's impossible to ignore here. thank you all very much. let us bring you up to speed on this developing situation, which is about 800 miles from here. as you saw from the video, fires are indeed burning in the heart of kiev. it is the second night of violent clashes between police and protesters, who are seeking constitutional reform. ukraine, safe to say, is at the brink of a possible civil war. the foreign ministers of germany, france and poland are heading to kiev in the morning to try to defuse the situation. while the european union is holding an emergency meeting to discuss possible sanctions against the ukraine government. ukraine's currency is flirting with its lowest level since the crash five years ago and it weakened more than nine to the

dollar for the second time this month. moments ago, the president replaced the head of the army. here's why this is important. the acting defense minister says the ukraine army may take part in a quote, nationwide anti-terrorist operation, end quote, in order to try to restore order. the government has called these protesters terrorists. this situation has opened cold war wounds. remember, the ukraine, about 46 million people broke away from the former soviet union just 22 years ago. let us bring in neil buckley on the phone, eastern europe editor for "the financial times." he's on the ground in kiev. welcome. i know it's tense there. in greece we saw violent protests with little change in the end. in egypt, we saw violent protests that toppled the government. in your mind, which one of those is this more analogous to? >> well, i think the situation here is becoming more analogous

with egypt, because i don't think these protesters are going to go home without there being a change in government ultimately, or without them being driven very violently from the square. but if that happens, i think you could just see people coming back and in fact, even more people flooding into the capital. >> yesterday, the "new york times" said the protests were winding down and appeared to be quote, a seemingly final act of desperation. there was a ring of police. it appears things have reignited today. what has changed that the protests have thus reignited and gotten stronger when they were essentially left for dead yesterday? >> well, they weren't entirely left for dead. that was the point. the authorities came in with considerable force last night but with not absolutely knockout force. it's not quite clear why they

held back from driving protesters from the square completely. it may have been an effort just to intimidate people and try to persuade them to leave. but ultimately, it wasn't a knockout blow last night. so a lot of people have stayed on the square. there are a lot of people on there now. they are digging in, they are preparing to repel any further attempts to remove them. you've got people digging up cobblestones from the pavement, ready to hurl at police if they come back. so the situation is there's still a lot of people there and the potential remains for further clashes. right now, the situation is not as violent as it was this time 24 hours ago. >> the protesters have essentially said they will remain fighting until -- by the way, formerly democratically elected president, is toppled, correct? >> that is what they're saying.

i think there were opportunities to end this crisis at an earlier time in the past three months, but the president missed those opportunities. he wasn't prepared to compromise and the whole situation has escalated to the point where most protesters will tell you they are not prepared to leave unless the president goes or unless there are new early elections called ahead of the scheduled presidential elections which are due in the early part of next year. >> very tense and tenuous situation in kiev. neil buckley, thank you. be safe. we'll talk to you again. let us bring in the atlantic council's adrian kertnitski to look at the russian impact on this. thank you for joining us. russia has supported the ukraine both financially and politically. they have given them a few billion dollars. do you believe that russia will

go to further steps either politically, economically or perhaps even militarily, to support ukraine? >> well, russia is already deeply engaged with this extension of financial aid to the corrupt regime, not to ukraine specifically, but to hold the president in power. they feel he is a weak leader who will be susceptible to their influences, and as we speak, russian operatives are working in the headquarters of the ukrainian ministry of the interior, gaming the effort to suppress the opposition. but the russians have consistently underestimated the ferocity of resistance, the hatred of his rule which is legion and it is especially widespread in the capital city, where about 90% of the population is against him, and in central and western ukraine, where again, 80% to 90% of people want him out. >> we are seeing pain in the russian stock market as well. the rsx, the etf that mirrors

the index, down about 11% year to date. as we pointed out, the president was indeed democratically elected just a couple years ago. what has changed in the past few years that has made the public tide turn against him? >> well, a range of things. number one, personal enrichment. he and his son have personally sucked out at least $12 billion, according to his former insiders, from out of the ukrainian economy over the last three years. they have squeezed out other businessmen and oligarchs, had shake-down campaigns. it's a pyramid of corruption and graft they have in place. secondly, they have made an about-face on european integration. most of the public thought that european integration would be a way of bringing in new investments and also putting him under some constraints. thirdly, he gathered unchecked power and disrupted the checks and balances that had existed,

weakly, but had existed between the legislature, the government, the president and the courts. all of those have been obliterated. it's basically one man rule on behalf of one small clan and people are outraged. i would say many people in the ukrainian business community who supported him are outraged as well. >> the white house is out with a statement, the president says the u.s. condemns violence in the strongest possible terms and also warns of consequences. how does this change the situation at this point? now that we know the president is speaking some very strong words against what is going on in kiev and also, that there has been an emergency meeting of the foreign ministers of europe to be held on thursday. >> i think the important thing is piling on. i think the important thing to understand is that ukraine is in a situation of pre-civil war. as we speak now, throughout central and western ukraine, the government offices have been taken over by the opposition. the militia offices and security service offices in various regions of ukraine representing about 40% to 50% of the

population have been taken over by opposition forces who have stripped the local militia of their weapons and have taken up those arms to protect and to get ready for the defense of their interests. so in a sense, we are moving towards dual power, where post of the country will be ungovernable. there will be a very high price to pay. there will be major consequences for the disruption potentially of gas exports to central and southern europe which pass through the opposition strongholds in western ukraine, and which could be turned off or could be sabotaged in a conflict. so all those kinds of things are pressures against him, as are the pressures of his business elite who have some of their people in parliament. >> got it. thank you so much for your analysis. appreciate it. brian, i know you have been working hard. what else do you have from sochi? >> well, listen, obviously as you know, you have been in situations like this, it's a difficult situation, 800 miles roughly northwest of here, but it's also life goes on at the olympics. i will give you guys one

anecdote. earlier today, while the russian men's hockey team was in a very, very tense match with finland, i went into a hotel and there were a group of men around a television. i assumed they would be watching the russia hockey game. they were not. they were actually watching a live feed from kiev as well as comments made, so what's happening in ukraine has found its way here. but coming up, life does go on from the 22nd winter olympiad, we will give you the latest on what was a tough day for russia in hockey and an exclusive insider's look at the new formula one racetrack being built in sochi. not sure really anybody else has seen it but we saw it today and we will be bringing it to you. back to you. >> look forward to that. still ahead on "street signs," hot opportunities in frozen stocks. your best ways to play what seems like a never-ending winter. we will tell you about wall street's newest love affair. that's all ahead. tires screech ]

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welcome back to "street signs." i'm jackie deangelis. national gas futures soaring more than 10% today, hitting a five oth five-year high. now, the dramatic move today coming on the back of some warmer temperatures on the east coast but weather models are saying the rest of february and much of march could still be very frigid.

also, traders are pointing to tomorrow's department of energy weekly storage report for nat gas. they are expecting another draw-down in supply because of the great demand we have seen so far this year. the next stop for nat gas, hard to say, but traders are saying seven bucks is not out of the question. melissa? weeks and weeks of cold weather putting a big chill on some earnings. dominic chu joins us with more. >> so much anecdotal evidence with regard to what companies are saying about the earnings picture because of things like weather. take for one earl hesterberg at group one automotive. they sell cars. the ceo says the severity and extremely widespread nature of this storm this year is far beyond our normal experience. expect to negatively impact our first quarter earnings by about 15 to 20 cents per share. they are already putting a number on it. get ready for a hit for earnings per share. and the ceo of lundgren saying

we are to do a job, then there's a snowstorm, the foundation isn't poured, we can't put in the door or upgrade the door, those are real issues that can have some headwind in the first and fourth quarter. two ceos managing expectations. now take a look at this. s&p capital iq put together a survey of analysts about expectations for earnings growth in the quarter. check this out. on january 2nd they said 5% earnings growth. fast forward to today, that 5% earnings growth is now more like 1.5% earnings growth. so already taking down the estimates. could weather be a factor? maybe. check out thompson reuters. they have their own survey. december, back in the beginning of december, they said maybe 7% earnings growth. now today, they say it's more like 3.3%. again, a lot of analysts are taking down their expectations for earnings. it's only a question of whether or not the weather is going to be as much of an impact on those numbers as we see at least for the time being. back to you. >> the debate goes on.

thank you. so can this cold weather provide a boost for some companies? joining us now chase midcap group found and patrick taser. where would you send people to look for a potential boost here? >> one thing that up front it's really hard because a lot of this cold weather is very regional, the northeast, the midwest. yes, they have had cold in the south but a lot of companies being most impacted are going to be local franchises, local businesses that have actually lost activity. clearly in the energy sector that's one of the areas we think there's benefit. you are seeing it in natural gas right now. you are also seeing -- you have seen oil prices over 103. the long term expectation for oil is that it will head to $80. the expectation it will be down. right now it's up. that's partially due to the cold, perhaps, but it's partially due to the fact that global growth might be better than expected. so energy we think is one place. i imagine your other guests with

smaller companies may have more companies that are publicly traded where the weather impacts more immediately. >> i have bp down for you. are you telling people to buy it on the basis of the many factors you just gave us? >> you know, any energy company, weather, cold, one very small part of it. in bp's case, what we see out there is the expectation is that as i said, oil prices will go down but i think people will be -- are missing the risk of success for the global economy. you saw it a few minutes ago with the fed minutes, people say the fed staff is positive, the fed governors are more positive than expected. i think there's a lot of negativity out there. bp is a very cheap stock that also benefits from global growth and bad weather. >> let me get brian in. brian, you have the smaller cap picks for us. >> jarden is a relatively small company, about a $6 billion market cap that benefited a little from the cold weather. as your other guest said, it's

been pretty difficult earnings season, especially in the consumer area. and they are a consumer products company. it benefits from cold weather brands like k-2 skis, but they also felt like their seasonal items sold through pretty well in the fourth quarter. inventories are down and that gives them pretty good setup for next year. >> but isn't there also a reason to not invest in these consumer oriented stocks because of the weather? fact of the matter is consumers are paying more in their heating bills, whether it be because of the spike in natural gas or shortage of propane in the midwest which will send heating bills two times what they were last year for about a third of the residents in the midwest. >> yeah. those are both pressures on consumer spending that affect jarden and the other stock, polaris. both of those companies are impacted by consumer spending. we think they are both good enough companies to overcome some of those things. we want to own either of these just because of cold weather. in fact, we bought polaris in

august a couple years ago. it was not because of snowmobile sales at that point as a focus. >> guys, we will leave it there. thank you for the contributions. brian and patrick. still ahead on the show, the biggest threat to one stock that's hitting all time highs today. plus this. >> the winter olympics not the only big sporting event coming to sochi in 2014. formula one racing will be here in october. coming up after the break, a rare look at the new track being built right here in russia. ♪ ♪ ♪

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let's get you updated on some of the news that broke moments ago and it is good news for the united states. the u.s. winning in hockey defeating the czech republic 3-1. canada defeating latvia. so the united states and canada will face each other on friday in the men's semifinal for hockey. it's a true border war, because in the other semifinal you have sweden facing finland. what name did i not say will be there? that is russia. it was a very difficult day, a lot of hopes being pinned on the men's russian hockey team. today, they did not accomplish those goals. they lost to finland 3-1. you can feel the mood here in the olympic village completely change. it was a difficult day, a lot of optimism coming into the match even though finland more highly ranked than russia. people coming out of the bolshoy ice arena were despondent, including a poor little boy we caught on camera. feel bad about that. tough situation for a lot of these fans. here's what they can feel good about. russia leading the medal count or until moments ago, the united

states with 23, russia right at the top, all within one of each other. the netherlands with 22. norway with 20. canada with 18. for now, usa back on top. we have been back and forth with the netherlands, russia and the united states. however, the olympics will be finishing up in a couple days and much of what you see behind us is going to be put to other uses. one of those other uses will be formula one auto racing, for the first time in 100 years, the highest level in motor sports will return to russia and we got an inside look at the new f-1 track being built about a half mile from here. in a few months, these tractors will be replaced with an entirely different kind of vehicle. that of a screaming 200 plus mile an hour formula one race car. we are standing on what will be the front straightaway for the 2014 russia grand prix right here in sochi.

the race to russia has been more than a 30-year journey for formula one, ever since bernie ekleston came here. now russia finally gets its grand prix and the stands, while still being built, will be filled with thousands of screaming fans. those fans are going to be screaming as cars race past here and into what is now the olympic park. you can see they are symbiotic. it is all part of a master plan. russia faced so much heat for its spending around the games but much of that spending is on permanent infrastructure investments like this track which has a seven year formula one deal. it's all part of a bigger plan to make sochi the vacation and tourist destination of the country. i believe we may be the first if not only western tv crew that has been allowed into the f-1 facility. of course, formula one, the

united states broadcasts on our sister network, the nbc sports network. i had some connections we might have wrangled to get us on the track. a lot has been made about putin and the spending for the games but that last point i made, i think is important, which is not all the money is just going to build the ice dome. a lot of the stuff they are spending on will remain here for years and perhaps decades to come, permanent infrastructure improvements. simon, we're going to the russian grand prix. how about it? >> looking forward to it already. >> how about me? am i chopped liver? >> no, but i was just trying to make simon smile. >> just like the russians. >> just like the russians. >> brian, thank you. see you later. still ahead, tesla releases earnings after the bell. we will give you the magic number to look for when they report. plus, outrage of the day. a deep dish disaster. we will explain. it works how you want to work -- on your own...

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here we go. street talk time. hitting the big stocks on the move so far this session.

first up, sm energy company, shares down after earnings and a round of downgrades. >> to a hold from a buy. also downgraded to neutral from outperform. the problem, lower crude production. >> up next, the navigation company, garmin, surging to a five year high. >> this after the company posted earnings that beat fourth quarter revenue coming in higher than expected. the company says sales of its watch which is geared towards sportsmen to measure things like pulse and heart rate, that really helped the shares here and it's up 10%. >> navis industries also up today. >> thanks to a more favorable outlook for drilling operations. the target is $18 but be careful, analysts warning the current quarter could get hit by what else, bad weather. >> finally, a real big mover of the day, signet jewelers. >> this is the largest specialty retailer jeweler in the u.s. and uk, acquiring zale's, a premium

of 41% over the closing price over at zale's. this is unusual because the acquirer doesn't usually jump but all side benefiting from this one. tesla reporting earnings after the bell. the big focus is on how many vehicles they sold last quarter. is tesla a buy ahead of earnings? let's start talking numbers. on the technicals, andy busch and on the fundamentals, john stevenson, a portfolio manager at first asset investment management. john, start off with you. don't give me this valuation thing. you could have given me that argument $150 ago. go ahead. >> well, i think the fundamentals, it is a valuation argument, but i will talk to the business side of things. i think they will report a decent number of cars, maybe 6900, which would be good, would put them a little ahead of plan. that part's good. but the real situation is do you buy today and why would you pay 117 times p.e. when even if you

consider it a technology company, the average p.e. in the technology sector is 18. it's way overvalued. there's no possibility of it becoming mass market because the battery technology doesn't even -- isn't up to snuff and won't be there for years. then you have all the issues about reliability, execution risk, can they transition, can they bring in gen three cars and do them at the same kind of margins. if you look at the margins of the competitors, bmw is 6.8% gross margin versus daimler. here, it's close to 20% margin. if they could achieve 25% margin continuously, obviously competition is coming in here. this is a screaming short. >> i don't know, andy, if you shorted this thing you would have had your face ripped off a couple times. what do you see on the technicals? >> well, the technical side, really good point. what is valuation. who the hell knows with this company. >> the average technology valuation, do you apply that to tesla? i'm just throwing that out there.

>> you know, bmw sponsors the olympics. tesla sponsors volatility. that's what you get with this stock. it has been crazy. that's my view on it. taking a look at it, the chart i have is a one year daily price chart. i've got three moving averages on it, got a ten day, 30 day and 200 day moving average. i had the 200 day moving average up there because that's what a lot of portfolio managers have in their models, right, is that they want to be buying that, as long as you're above the 200 day, fine, they are long. if they get 5% below it, they are generally dumping that out. we are well above that line. on the two other ones, you can see the ten day's above the 30 day. generally that indicates you are buying the stock or long it. the point i'm trying to make with this chart is the spread between the ten day and 30 day moving average, it's almost at an extreme, about $16, gotten as high as $20. i think that's what you're looking at here. it's starting to turn. the nonsense about apple buying

them ahead of their numbers is crazy. i think once you do get into the numbers and they disappoint a little bit, that's when you get the ten day moving back down to the 30 and that's when you will get a sell signal. i don't want to touch this until i see -- >> two sells. all right. thanks a lot, guys. be sure to check out the online edition of talking numbers in partnership of course with yahoo! finance. coming up next, as facebook hits an all time high, we asked if the social network is on the verge of screwing up the best thing they've got going for it. and speaking of screw-ups, nothing says sorry for that nat gas explosion like a free pizza. the story behind what could be the worst apology ever. tdd#: 1-888-648-6021 there are trading opportunities tdd#: 1-888-648-6021 just waiting to be found. tdd#: 1-888-648-6021 at schwab, we're here to help tdd#: 1-888-648-6021 bring what inspires you tdd#: 1-888-648-6021 out there... in here. tdd#: 1-888-648-6021 out there, tdd#: 1-888-648-6021 there are stocks on the move. tdd#: 1-888-648-6021 in here, streetsmart edge has tdd#: 1-888-648-6021 chart pattern recognition tdd#: 1-888-648-6021 which shows you which ones are bullish or bearish. tdd#: 1-888-648-6021 now, earn 300 commission-free online trades.

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lease the 2014 ct 200h for $299 a month for 27 months. see your lexus dealer. the fed minutes within the last 45 minutes shed by the market. the biggest winner on the dow right now is verizon. the biggest loser, jpmorgan which is down about 1.5%. facebook hitting a new high today. let's bring in julia borsten. what do you think is pushing the stock higher? >> it's confidence about facebook's core ad business as well as untapped ad potential

from the likes of instagram that both helped push facebook shares up about 29% higher since facebook's better than expected earnings three weeks ago. instagram is growing faster than any other major mobile app or social network, with about 58% of its users using the service daily and they tend to be young, wealthy and female. this according to a new study from retail analytics firm. what's particularly promising is the fact that instagram has 15 times the engagement and double facebook's engaged user base. the study says so-called prestige brands see the value with 93% having a presence on instagram, up from 63% this past july. facebook has been very careful about instagram ads saying that ad partners must already have a strong brand presence on the app and on the company's january 29th earnings call, ceo mark

zuckerberg and coo sheryl sandberg say the user base has doubled but they haven't seen the business impact of those results. facebook is clearly being very cautious, trying not to alienate its users with those instagram ads because that has such potential to be a gold mine, they want to make sure they play it safe. >> stick around. let's bring in mike eiser, former re/code member. what do you say to shareholders? they are walking this very tight line between not want to mess it up, make it uncool, but at the same time, there is that need to monetize at some point, surely. >> you have to look at facebook's history as a company as well. they basically took at least half of their life before they started introducing ads into the rail area and newsfeed section so they are not really in a huge rush to monetize. plus, they have obviously

already figured out how to advertise on mobile over the past year, right. their mobile advertising now accounts for i believe at least half of all ad revenues. so the impetus to monetize instagram as quickly as say a year ago is definitely not there. >> taking a look at some of their ads, some of their first advertisers include berberry, for instance. they are taking a different approach in terms of the look and feel of the ads so they don't feel as intrusive. >> they are really trying to make the ads really feel like content and i think that's why they have been working with such premium brands to let them do their stuff and show just how cool the ads can be and making them like content. if it really works, people are not going to mind the instagram ads. they will react to them like it's a brand they're following and want to see more. >> it's worth pointing out the data that we have that seems to suggest that instagram is a big hit with the affluent young

female user in particular, and that was explained to me by one of the team today, i'm not an instagram user, partly because she could absolutely select who she is dealing with, who she is trading her photographs with, and in essence, she felt safe. i think that's a very profound thing to say about a platform on the internet, isn't it? >> well, it's interesting because the ads that they are going to see at least in the beginning right now are from brands that they choose to follow. if you look on facebook right now in the stream, it has to do with targeting and the types of stuff you're interested in but not necessarily things you're following. the power of actually choosing to follow a brand and sort of appreciating like julia said the content that comes in your stream, that's like a gold mine for marketers. >> would you agree, julia? >> absolutely. i think the fact that people on instagram want to follow michael kors, want to see what the products are that kors has out there, so they get served an ad by michael kors, they might not

notice or may notice that it's an ad but may not care because they are so engaged with the visual content from these brands which is what instagram is great fomp for. >> thank you both. we have to leave it there. coming up next, what could be the worst corporate apology ever. >> we will head out west to find out why the street, wall street, is flocking to invest in the wilderness business. morgan brennan is on that story. >> reporter: we are in canvas, utah outside of park city where the fish are big and prospective returns on this $10 million ranch even bigger. more after the break.

welcome back. you know, we raise our eyebrows when we saw this earlier. chevron apologizing to residents nearby a well explosion with free pizza. this apology note and handwritten gift certificate was presented to residents near the explosion site in southwestern pennsylvania. it is for this special combo at

a local pizzeria. >> the explosion happened early last tuesday morning at chevron's fracking counseled in rural green county, pennsylvania. one well worker is still missing and crews are still trying to control the well. chevron confirmed to cnbc that it did issue the pizza coupons and it's continuing with local engagement in the wake of those explosions. although in fairness, the local nbc station there told one of our producers that everybody was quite cool with it. hey, it's free pizza seemed to be the attitude. >> and it's a special combo as opposed to just the regular combo. because the special combo is like $12.99 and that's specifically payment for having a fire rip through your town. i think it's outrageous. you're not jouge rate e outrage. you're like stone. >> what's a special combo? >> i don't know. you're crazy. >> let's have a look at where we are on the markets. the big news is we have the fed minutes. expectations weren't high we'd

get news, and sure enough broadly we didn't. >> we have the president's remarks on the ukraine. >> let me say one last thing and that is about the situation in ukraine which obviously has captured the attention of the entire world. the united states condemns in strongest terms the violence that's taken place there. and we have been deeply engaged with our european partners as well as both the ukrainian government and the opposition to try to assure that that violence ends. but we hold the ukrainian government primarily responsible for making sure that it is

dealing with peaceful protesters in an appropriate way, that the ukrainian people are able to assemble and speak freely about their interests without fear of repression, and i want to be very clear that as we work through these next several days in ukraine, that we're going to be watching very carefully, and we expect the ukrainian government to show restraint, to not resort to violence in dealing with peaceful protesters. we've said that we also expect peaceful protesters to remain peaceful, and we'll be monitoring very carefully the situation, recognizing that along with our european partners and the international community, there will be consequences if people step over the line.

and that includes making sure that the ukrainian military does not step in to what should be a set of issues that can be resolved by civilians.

so the united states will continue to engage with all sides in the dispute in ukraine and ultimately our interest is to make sure that the ukrainian people can express their own desires, and we believe that a large majority of ukrainians are interested in an integration with europe and the commerce and cultural exchanges that are possible for them to expand opportunity and prosperity. but regardless of how the ukrainian people determine their own future, it's important that it is the people themselves that make those decisions and that's what the united states will continue to strive to achieve. >> we have been listening to the president. strong words on ukraine. "street signs" will be right back. [ children yelling ]

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♪ 9 a.m. cheesesteak! ♪ 2 p.m. cheesesteak! ♪ 4 a.m. cheesesteak! ♪ any time (ruh!) >>geico. fifteen minutes could save you fifteen percent or more on car insurance. we were going to bring you morgan brennan's report from utah, but breaking news from the president in mexico had to overright that i'm afraid, but you can see morgan's report on cnbc.com. >> yes. meantime, i will see you tonight on "fast money" freestyle. our live streamed 30 minute broadcast. we'll be covering tesla earnings, and tomorrow on "squawk on the street"? >> tomorrow on "squawk on the street" obviously we'll keep you updated with all the news overnight. notably hilton will come through -- i beg your pardon,

marriott will come through with its quarterly results and they will be amongst the ceos that we have on "squawk on the street." of course, we kick off every morning as you will be aware at 9:00 a.m. >> all right. thank you very much for watching "street signs." we'll see you back here tomorrow. >> "the closing bell" beginnings right now. welcome to "the closing bell." i'm kelly evans here at the new york stock exchange where stocks have been taking investors on a roller coaster ride. >> oh, brother, have they. >> it hasn't been that dramatic. >> but it was pretty dramatic for a while. i'm bill griffeth. the dow rallied out of the gate up 90 points but then gave back all of those gains and then some. we were down 50 for a time. the atlanta fed president one of the reasons, dennis lockhart saying he could see a rate increase, not the tapering, an actual rate increase, by mid-2015, but the blue chips are