it's one and one, not two plus another one, plus maybe you are carrying a purse or something else. the airlines are increasingly trying to speed up boarding at the gates. they do not want people bringing these big bags on that eventually, after they walk up and down the aisle, they will have to take back to the gate to be checked. they are trying to speed up operations and at the same time, remember, the airlines, they are looking to collect more fees when it comesç to checking bag and to essentially speed up the process overall. last year, united collected $638 million in checked bag fees and the company said over the next four years, it wants to collect an additional $700 million not just from checked bag fees but fees of all kinds. i have to tell you this. flying from san diego to new

york last week with my producer, she was in the restroom, they called us to board. i said come on, come on, we got to get on, we got to get our bags up in the compartment. that's the rush that everybody goes through. by the way, she said quit getting your panties in a twist, we will make it just fine, and we did. but there were some who didn't get space in the overhead compartments. >> that's the thing. as the overhead compartments fill up very quickly as more and more people carry on, trying to avoid the baggage fees, then you jam it in underneath and i know it is a bit of a hassle. we will see how it all plays out on united and maybe on other airlines. i know i fly united a lot. phil, thank you very much. sue, down to you. >> i can just hear megan giving phil a little bit of notice there. let's switch gears a little because germany, france, the uk, the u.s., russia and china are all in talks with iran over its nuclear program. while they talk, energy companies are chomping at the bit to get back into theç islac republic.

sanction-free. sharon epperson talking with two big companies now making plans to do just that. she joins us live in houston. hi, sharon. >> reporter: hi, sue. ceos of some of the major oil and gas companies in europe are really looking for investments overseas, including iran. i spoke to the ceo of totale in france, who said they are definitely interested in investing in iran under the right conditions. >> even on what we call the interim period, we might start discussing. we will not invest, we will not negotiate new terms until we can do it. >> reporter: the ceo of italy's eni was the first western oil company ceo to meet with iran's oil minister once that preliminary nuclear deal was reached last year at the end of last year. he says he applauds iran's decision to retool the terms of their business model and in

terms of enticing more investment in iran's energy sector, but he says there are definitely some changes that need to be made before he's interested in making new investments. p>> the contact which has been prevailing in iran were under the name of buy-back. this contractual framework is impossible. we don't want to work with this anymore. therefore, the iranian authorities in order to attract foreign companies, are changing the terms and moving their service toward normal international contract. this is good news. >> reporter: as iran works through this new business model and meets with these western oil company leaders, of course, when and if sanctions are lifted, it will still take some time to get back that one million barrels per day of crude oil that's been lost due to embargo. they are working toward that direction. back to you. >> sharon, thank you very much.

let's go back to engelwood cliffs and sheila. >> check out shares of eli lily. the fda declined to approve its experimental diabetes drug and because of facility issues at a plant where it would be produced. the stock currently down about .8% or 50 cents. tyler? secretary of state john kerry meeting with colleagues in paris today. he will meet with russia's foreign minister later. clearly ukraine is topic number one. they areç not exactly going toe filling out their ncaa brackets. the u.s. military said today it will step up cooperation with nations in eastern europe to reassure allies in that part of the world. exxonmobil saying today that it's going to delay a project in ukraine because of the problems in that country. and the eu is offering ukraine up to $15 billion in aid over the next two years. so the big question for this hour is where might that money

go following the money trail? steve liesman, of course, was the bureau chief for the "wall street journal" in moscow and michelle caruso-cabrera, our chief international correspondent, just back from the ukraine. where might this money go? who wants to take first whack? >> a lot of that money is probably going to end up actually in russia. >> because? >> because whether they are paying the natural gas bill for ukraine, that's money that goes directly to russia. the eu said yep, we will pay the gas bill. plus more than half of all exports from ukraine go to russia. all this money is -- a lot of it is about improving business in ukraine and ukraine does a huge amount of business with russia. >> ukraine has about a $20 billion deficit in energy. most of that comes from russia. one of the main aims -- >> does ukraine have its own domestic sources of energy? >> not much. >> it could. it?x'eeds to be developed. >> i just read a story where that gas company is going to be pulling back, part of their effort to diversify. they tried to do that. one of the aims of western reform will be to get rid of the

domestic fuel subsidies, bring it up to a more western level. what does that mean? it means helping pay the bills of average ukrainians. that bill is from russia. if it's rubles or -- no matter how many consonants are in the currency it's still fungible. >> they are in arears by more than $1.5 billion. that first payment goes directly to gas. >> let's talk about another couple stories on your beats. first with you and china, and you maintain that possibly, possibly china is facing a bear stearns kind of moment. >> the first corporate bond defaults in chinese modern history. remember, they didn't issue corporate bonds for a long time because they were communist. there were no corporates. exactly. but this company says they will not be able to pay their interest payment on friday, roughly $14.6 million. this has never happened before because in the past, china and the chinese government whether local or national, there wasn't

a bailout they didn't like so they were constantly bailing out anything that failed. so now that investors are going to be told wait a minute, you're not necessarily going to be bailed out,ç bank of america, merrill lynch is saying this could be the bear stearns moment where finally the nation starts to reassess whether or not they've gotten the risk in these products wrong. >> is it a lehman moment or bear stearns? >> bear stearns. the early part of the crisis. the other thing -- >> solyndra moment. >> right. analysts are saying this could be a good thing. you can't keep bailing everybody out. people have to learn when they invest, it could fail. >> that's the way capitalism works. they have a blended system there. >> nice way to put it. >> steve, let's talk about the weather, who doesn't like to talk about the weather. you've got new data indicating what? about how the weather is affecting the economy? >> indicating that we really, really hope it was the weather because it was a big drop in the service sector report today from the institute for supply and management. take a look at the chart. what you see is this steady weakness that happened over the

winter crashing down to that 51 level there, 50 indicates growth in the service sector and in the economy. but it's getting close and i want to show you what happened to the employment component of this. we follow this on this show. take a look. that's the second -- >> like my ekg. >> let's hope not, tyler. >> look at that last one. >> we would be getting out the defibrillator. that's two big drops right there. one is the '08 recession. the other one isç just recentl. we hope that's the weather. it's still at a much higher level than '09. i want to show you the dramatic change there. here what's was said about the service sect or economy and the weather. >> a lot of law firms couldn't practice because they couldn't get to the office and couldn't work. accountants couldn't work. retailers have been significantly affected. it affects all the things they do. in general, businesses just couldn't get the work done that they normally do. >> take a quick look at this chart here on the adp this

morning that came out. under expectations which makes me think maybe that the report on friday is also going to be weak. all you can do is hope it was the weather and not something more serious going on in the economy. >> thank you both very much. good to be with you as always. sue, down to you. >> you know, google is making a major move into housing. joining me on the floor is diana olick. what's going on? >> google is pouring millions into auction.com but auction's ceo says it's not just the cash but the cache that comes from google. we will tell you what else the real estate sales site gets in the deal. >> thank you. see you in just a second. congressmen behaving badly. things get out of hand quickly during a hearing into the irs targeting scandal. you have to see this. that's next. predicting the future is a pretty difficult thing to do. but, manufacturing in the united states means advanced technology.

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with the stunts and loud explosions and all the muscles. [ as cosby ] i want to see the comedy programming with the children. [ british accent] watch bravo! yeah, i want to see "the real housewives." rewind! yeah! jimmy? it's been hours. we told you the x1 entertainment operating system show me "the tonight show starring jimmy fallon."

that's what i'm talking about right there. [ cheers and applause ] [ female announcer ] control your tv with your voice. the x1 entertainment operating system. only from xfinity. welcome back toç "power lunch." i'm sheila dharmarajan with a market flash. chipotle bouncing off session lows, responding to reports of a guacamole shortage and a warning it could suspend it from its menu. the company said this is a routine disclosure and there is no looming shortage. some people are calling it guacapolypse. >> that's great. i'm not all that worried about the loss of avocados. okay. congressmen behaving badly. fireworks during a hearing into the irs targeting scandal. congressman darrell issa getting frustrated by irs official lois

lerner after she kept taking the fifth. issa announces he will adjourn the hearing because it wasn't getting anywhere, and slams the gavel to close it. but the ranking democratic representative, elijah cummings, explodes and demands to be heard. the tape says it best. >> i can see no point in going further. i have no expectation that miss lerner will cooperate with this committee and therefore, we -- >> chairman -- chairman, i have a statement. you just cannot do this. we are better than that as a country. we are better than that as a committee. i have asked for a few minutes.ç now you are turning me off. >> miss lerner, you are released. >> first, i would like to use my time to make some brief points. [ inaudible ] >> that would be the universal cut signal there. chairman issa cutting off the

ranking member cummings. no wonder congress is in such disrepute these days. sue? >> wow. thank you very much. stocks taking a bit of a breather following two wild trading days. bob pisani is here at post nine at the nyse. we are holding steady, down 23. it seems, i was just talking to kenny, he says there's kind of a level of exhaustion in the market to a certain extent. >> nice volume in a number of different sectors and right now, that's a narrow trading range, about 55 points and the dow typically will move about 125 points from its high to its low. that's what we mean, narrow trading range. take a look at a couple other things. crude's down, natural gas down. most of the big oil names are down. exxon is having an analyst meeting today. they will decrease capital spending roughly 6% in 2014 so oil production has been dropping for them. it's been a problem for years and it's expensive to get into liquefied natural gas which is a little more profitable.ç beauty stocks, revlon down about

6%. home builders lagging. overall, they have been winners so far this year. finally, a huge amount of secondary offerings overnight. this was the biggest of the year, i counted 13 secondaries. bloomin brands, which owns outback steak house, bankrate, gilead had a $4 billion secondary. you float them while you can. float new stocks when the markets are up and that was a lot for the market to absorb. a lot of new stocks for the market to absorb. >> markets are up and interest rates are still really low. thanks, bob. appreciate it. we told you earlier that google is making a major move into the housing market. diana olick is here at post nine and will give us details on that. >> that's right, a $50 million investment in auction.com, an auction-based real estate sales site for residential and commercial real estate. this by google capital, yet another investment arm of google. this one putting money into more seasoned companies. auction.com has been online

since 2008 selling to investors as well as end users both online and on the courthouse steps. they have really come of age in the foreclosure crisis, selling $7.5 billion worth of real estate just last year but the ceo told meç this morning commercial is where the biggest opportunities lie. >> we have a marketplace effect. people bidding on $50 million apartment buildings, $25 million malls and these sellers become your buyers. we have a marketplace effect. we have billions of dollars of liquidity coming to auction.com with millions of users. >> given the amount of realtime buying and selling, auction's website sees the information the company has could be very valuable as well. sources at google say this is not product integration, just a pure money play. >> you know, google is arguably one of the best data companies in the world but that is not something that we would share with anybody other than auction.com. >> auctions of course not a public company, but frieden says an ipo is not entirely out of the question. guys?

>> thank you very much. israel's prime minister benjamin netanyahu is on the west coast with some solutions for california's drought crisis. josh lipton is in mountainview, california. josh? >> reporter: tyler, here in mountainview, california, where governor jerry brown is going to be meeting with the israeli prime minister benjamin netanyahu, the two are going to talk about cybersecurity, alternative energy and the drought here in california. i'm going to havp that story coming up for you in just a few minutes. back to you. >> josh, thank you very much. that is coming up. plus -- >> coming up, "power pitch." courting a $50 billion industry. this startup is about to walk their idea down the aisle. will our panelists say "i do"? >> are you in or are you out? >> stay tuned to find out.

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make it happen with fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. you're watching "power lunch" where it's a big day for financials. the leading sector in the s&p 500. leading that sector higher is bank of america, morgan stanley, goldman sachs, jpmorgan and citigroup higher as well. >> sheila, thank you. time for the power pitch, where entrepreneurs get 60 seconds to make their pitch. then our panel of experts decides whether they have what it takes to become the next big thing. >> we have one mission and it's total wedding world domination. this is a bride's digital bff,

making her planning easier and more fun. hi. i'm the founder and ceo of loverly. as a maid of honor in my sister's wedding, i experienced the inefficiencies of planning a wedding. in searchç of the dress, accessories, vendors to hire, i found myself 30 pages deep on google with hundreds of website open, sending her links. we launched the company with one mission. to make wedding planning easier and more fun. loverly is the first bride al search engine. we connect brides with ideas, people to hire and things to buy for their wedding. we are an all in one resource with expert tips, allowing brides to save and share their wedding inspiration with their family, friends and wedding vendors. we add content from top bridal bloggers, allow brides to shop 2,000 brands and close to

250,000 products on our site. you can browse over 30,000 local vendor profiles. photographers, wedding planners, whatever you need to make your wedding a reality. >> i'm mandy drury. on our panel is venture capitalist, sonja perkins. also with us is lifestyle and interior design expert colin cowie who designed weddings for the likes of tom cruise, elton john and jennifer lopez. colin, what do you think about this? >> çit's an amazing platform. i would imagine as the young millenial bride is incredibly important to advertise and we also know they are visiting four or five sites looking for information, inspiration and tools. >> sonja? >> i really like it.

it's beautifully done. kelley is going after a very large market which can be very hard to navigate. >> i feel like it's a very competitive space and kelley says they feel they have first mover advantage, they have no real competitors but we all know that in this world, that's not exactly true. okay, let's bring you in. we will talk about loverly. thanks for joining us. sonja? >> how do you plan on making money with your site? >> currently, our site is actually making money. we actually represent 40 of the largest wedding bloggers, we manage all their advertising and display inventory. we represent the largest audience of brides online right now with 2.6 million unique visitors. we are monetizing on the display side. we also had over 2,000 brands on our platform, 250,000 products that are all for a cost per click. as we drive traffic to the site and connect brides with the brands and products they want to purchase, the retailers willç then pay a cost per click. >> when do you think you will be

profitable? >> halfway through this year. >> in a crowded space, a lot of people working online, we know how important this young millenial blog is. what are you doing to make sure they spend time on your site and less time on other sites? >> we want to drive traffic off site because that shows they have had a successful visit. we are trusted by our brides to help them search and discover the best products, the best ideas and we actually monetize when we take them off site. we don't mind if they spend time off site but they do come back to us for search because they are having such a great search experience. >> final questions. >> how do you continue to scale this business because obviously this is similar to what google is doing. >> we are looking at kind of the knot as another amazing media site that we could potentially partner with. google i think will never go into the planning tools, the recommendations as loverly will. >> and final question. >> does it make you nervous or

worried most brides are one-time customers? >> we actually derive so much value from our brides, as they engage on the site, save, love and ultimately upload their wedding, we get so much value out of them during their 18 months of planning that weç ar okay when they leave. >> okay, guys. you heard what kelley had to say. are you in or are you out? sonja? >> i do have concerns about competition because i think a lot of people are going after this market. but i really like kelley. she seems to be very passionate about the business and very excited about it. i think it's a huge market and even though she got just a small piece of the market, she would do quite well. i am enthusiastically in. >> colin? >> it is a crowded space and a lot of people are really running off to try and engage the same bride. i think you are doing a really good job. i have confidence as well. >> i feel like kelley is very passionate about what she is doing, she has experience with her own boutique wedding p.r. firm in the past.

i also really, really like the money factor that she says she will be profitable by halfway through this year. i'm going to be in as well. you have three ins. this is pretty rare on "power pitch." normally you have one or two, but three is really good. >> i feel absolutely delighted. i'm glad you guys see the opportunity. i think that building a business that really focuses on creating value and solving problems which is what we are passionate about, i think that it's so transparent and so helpful for our brides. i'm glad you guys all saw that. i'm excited that you guys are in. >> thanks so çmuch. and big thank you to our panelists today. that is "power pitch." >> let's hear from you. are you in or out on loverly? go to powerpitch.cnbc.com or follow the conversation on twitter. let's go now to michelle caruso-cabrera for some breaking news on ukraine. uk's finance minister announcing on twitter they are going to be freezing the assets of 18 ukrainians.

this comes several hours after we learned that the european union, the foreign minister tls were going to freeze the assets of viktor yanukovych, former president of ukraine, and 17 of his closest allies. we don't know these are the same individuals but it is likely to be the same. once again, the uk's finance minister announcing the freezing of assets of 18 different ukrainians at this point in light of what happened there over the last several weeks. sue? >> thank you so much. appreciate it. israeli prime minister benjamin netanyahu heading to silicon valley meeting with america's top tech leaders and he may have some solutions to solve california's drought crisis as well. josh lipton live in mountainview, california with the details on both of those. josh? >> reporter: yes, sue, the question is how is israel, a country that, remember, is 60% ç desert, transformed itself into one of the most profitable and productive agricultural centers in the world. two words. irrigation technology. as prime minister benjamin

netanyahu visits california this week, he inked a trade deal with california's governor jerry brown. a key part of it is to help attack california's very serious drought problem. why does california's drought matter to you? remember, california's central valley grows a lot of produce, 99% of the country's almonds, 49% of all the lettuce farmed in this country. that's just really a start of your grocery list that depends on the golden state. in fact, california produced over 44 billion in fresh produce last year. the drought threatens to dry up $11 billion of that figure this year. israel is the world's leading innovator in turning dry land into farm. the country pioneered a technique called desalination, where salt water is treated and processed before being turned into clean drinkable water. israel's i.d.e. technologies is already building what will be the largest desalination plant north of san diego by 2016. when done, it will be able to

produce 50 million gallons of water a day. there are three smaller 4%-desa california with plans to build about 15 more. back to you. >> before we let you go, how does silicon valley feel about the parade of world leaders that continually seem to be visiting? obviously cutting edge part of the world but what's their response? >> reporter: i think, listen, silicon valley leaders, engineers, their first priority is going to be focusing on building the next great tech product so often not so much attention, actually really paid to these visiting dignitaries. in fact, the local paper here today, if you look on the front page, netanyahu isn't even mentioned. that's not to sort of deemphasize a really special partnership between silicon valley and israel. remember, just last year, tech titans apple, google, cisco, intel, bought 66 israeli tech companies for $8.5 billion. that was the most in seven

years, so a very special relationship and partnership between these two communities. >> absolutely. thank you so much, josh. appreciate it. metals markets are closing right now. it's not gold that we will focus on, although the gold market is up a buck 80. it is basically the palladium market. that hit an 11 month high in today's trading session over fears of sanctions against russia, primarily becau[e russa is the biggest producer of palladium. if the sanctions are put in place that would lead to a shortage of supply, theoretically, and that's why the platinum market is up almost 1.25%. to the bond market now. rick santelli tracking the action over at the cme. ricky? >> we all know that adp was definitely a little bit on the challenged side and if you look at intraday chart of tens, we zoomed up to 2.71. we are easing back, under 2.70. as we get ready for friday's

jobs data, this is key. if you look at what the driving force is, you can see that the dollar-yen year to date tracking ten year, still a very good trade to pay attention to. the last chart, you can look at the dollar bumping long unchanged on the year, you can look at the euro versus dollar ready to break out but here's the pound versus the dollar, hovering at the best level since thanksgiving of 2009. back to you. >> rick, thank you very much. his words did and still can move markets. now former fed chief ben bernanke is cashing in on that fact. plus airlines cracking down on carry-ons and facebook adopts a cop. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market.

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welcome back. dow jones reporting that kroeger made bids for all or part of the supermarket company, safeway. kroeger is higher by more than 2.5%. sue? >> thank you, sheila. the nasdaq composite and nasdaq 100 trading at fresh 14 year highs today. seema mody is uptown following the big movers in the tech space for us. >> good afternoon. that's right. building on yesterday's gains, the nasdaq now up about five points on the day. the big mover is facebook.

the price target raised to $82 a share, saying that facebook continues to gain share of overall marketing spend. facebook outperforming its peers on today's trade. what's interesting is that year to date facebook not the leader in the social media sector. pandora is. that's right, the online radio player which was trading below $10 a share in 2013 now at $40 a share. analysts pointing to improvement in earnings as the catalyst. what's also interesting is twitter which was arguably the hottest ipo of 2013, is down double digits this year. its worst earnings report as a public company, disappointing the street. tyler? >> thank you very much. aq!e power rundown.e-out for bob and jane are hanging out with us tonight. topic number one, ben bernanke earning more money as a free agent than as a fed head. ben banking $250,000 for his first public speaking engagement in abu dhabi on tuesday. 2013, $199,700, more in one day

than he made all of last year. how do we feel about this? >> i don't have a problem with it. it's rarefied territory. tony blair makes half a million dollars a speech. bill clinton makes three quarters of a million. i did a story about three or four years ago where i know donald trump was charging $1 million per speech to go to the real estate seminars people were putting on. i don't have a problem with it. he's out of office now. >> anybody -- you ever actually go hear these speeches? i have. >> they're boring. >> you would have to pay me to go. the only upside to it is that the more money he can make in a foreign country to bring back here, the better. good for him. >> i got no problem with it, either. topic two. united airlines cracking down on its carry-on policy. they are really going to enforce it apparently to the letter. not only the bag size limit, carry-on luggage no larger than nine inches by 14 by 12. that policy has been in effect for years but now if you are caught at the gate with

oversized carry-ons, you will be taxed $25 a checked luggage fee. you may be sent back through security to check your bag at the check-in counter. this is going to cause lots of disruption, i think. >> you know, i fly a lot. people are obnoxious. but here's the deal. they want to crack down on it, lower the baggage fees which they say this is not about. if you are actually going to have a person deployed at the security check send me back because you think my bag's too big and add a half hour to my routine, i will miss the flight, is that really, if that happens, you will see people thinking maybe i shouldn't fly united because i'm afraid, i want to play it safe with american. >> i agree. it is about the fees. i have seen people practically carry on steamer trunks. it's incredible they get in. now the value to being a frequent flyer is you get to be on before everybody else so you can rush to put your bag on. it's a silly system. i agree about the fees. it's not a bad idea to enforce some limits. >> united airlines has just told

phil lebeau that in fact, people will not be sent back through security to check in. they will be checked -- they will check the bag and be charged the fee, i guess at the gate, so it will be checked down that way. there. >> but it's not about the fees. >> i'm sorry? >> it's not about the fees, clearly. not abçout the fees. >> facebook sponsoring a cop, yes, the company footing the bill for a full-time police officer in menlo park. going to pay roughly $200,000 a year for the officer. apparently facebook sort of asked menlo park, the township, what can we do to help you most and they said hire us a police officer to patrol out there. what do we think of that, jane? >> i think it's a great idea. i'm going to encourage my children to go into law enforcement. >> it's a nice chunk of change. apparently the officer will make on average something like a little more than $100,000 a year. >> this is not -- i think read the article carefully, from what i can see, this is not a security guard, not a guy standing at the door walking around checking people's i.d.

he's generally involved in community security and they gave the implication that he was going to be out in the community helping people and patrolling around in a generic kind of way. >> is he carrying a weapon? can he make an arrest? he's not part of the police force, he is some sort of auxiliary police force? >> i'm not clear on that. my sense is a full-time police officer fully empowered to make arrests. >> right. >> and carry weaponry and so forth. >> the way the article sounded, they were paying the police force that was paying him. that's the way it sounded to me >> good way to help the community. good for them. >> jane, bob, thank you very much. sue? we go back to the russia topic today. who is on vladimir putin's american payroll? eamon javers is investigating that and will tell us next. a new report out on what the rich are investing in right now besides real estate. robert frank is following the money for us. hi, robert. >> well, art is the most popular

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coming up, something very special with someone very special. one of the sharks from "shark tank" will be joining us for the whole hour as our guest host. which is actually perfect timing because we will also talk to the ceo of a website which has been cyberhacked and harassed and robert is quite the expert on cybersecurity. we are also talking about making big bets that pay off. that is our theme for today. all those things and lots, lots more. make sure you join us in ten minutes' time from now. back to you. >> see you at 2:00 eastern. back to sheila for a market flash. check out shares of the maker of climate controlled car seats. the company reported a fifth

straight quarter of accelerating sales growth as the auto industry adds the heated seats to midlevel cars so expanding from just the luxury market. the company reported better than expected fourth quarter results, also 2014 revenue increasing 10% to 15%. that stock is up about 11% today. so you could say it's on the hot seat. >> i love, love, love my heated seats. i don't think i could buy a car that doesn't have heated receipts anymore. a report out on what hard assets the super rich are investing in. our wealth reporter robert frank here with the details. >> trick question. who did better last year, art or coin collectors? >> i would guess based on the sales of high end art pieces, art. >> you would be wrong. actually, coins did better. a new survey ranked the performance of collectibles and found that actually cars did the best. they were up 28% in 2013. then coins were second, up 10%. stamps were third, up 5%. art, we did have some big headlines last year, as you

mentioned, that $142 million painting but the broader art market was down 3%. art is still very popular with the rich. however, 44% of the world's multi-millionaires plan to add to their art collection this year. that's the highest of any category. wine came in second followed by watches. >> that's really interesting. watches are a big collectible. i did know that. >> pleasure matters as much as profits when it comes to collectibles. >> thank you very much. sue? we will talk about yahoo! which is making a move against google and facebook. jon fortt, what's their strategy? >> yahoo! is slowly rolling out changes that will require its users to log in to yahoo! if they want to use its services. starting with the ncaa march madness brackets, it will expand from there. official explanation but here is one that makes sense. the ceo decided to make strategic sense for yahoo! to have more control over its user data. that's potentially important for ads, personalization and the move to mobile.

the two main targets here, facebook and google log-ins which people can now use to log into most yahoo! services. once the change rolls out completely, that will no longer be the case. on the down side, some yahoo! users might abandon the services rather than go through the hassle of creating new log-ins but the upside is yahoo! will have a clean data base of its own users, a clear way to transition those folks to mobile and since we don't know how many yahoo! users log in using facebook or google, it's hard to say what the impact might be, but it suggests she wants to strengthen yahoo!'s hand as a tech platform, not just a broad media provider. >> jon, thank you very much. the russia/ukraine tension continues with president obama urging russia to pull back its soldiers in crimea but who is on putin's american payroll? cnbc's washington reporter eamon javers wrote a great piece on this for cnbc.com. who are his lobbyists and p.r. guys? >> they are spending a lot of money very quietly in washington but thanks to the foreign agents

registration act, we can get a look at just where they are spending all of that money onç p.r. and lobbying push mostly in washington. take a look at some of the firms starting with the big public relations firm. we have them down for $1.5 million over six months in 2013. had to do a lot of work for the russian federation. they work under a separate multi-million dollar contract. another firm here, frank lunce's old company, $138,000 over six months in 2013 for them. austin and byrd, the big law firm in washington, $100,000 over six months according to federal filings. finally, venable, $168,000 over six months as a subcontractor to ketchum. so a lot of money moving into washington, they are deploying it on lawyers and lobbyists and p.r. folks. let's go to phil lebeau with

breaking news. >> reporter: this is regarding the general motors ignition key recall. 1.3 million vehicles recalled. this is a letter sent from the national highway traffic safety administration. 27 pages in length, just released. this was sent to general motors asking 107 specific questions regarding this recall and the investigation no this recall which the way to 2004-2005, essentially asking who knew what, when did they know it and why did you make certain decisions in terms of notifying the public and notifying the federal government. remember, the key here is that under federal law, auto makers have five days after they realize there is a defect to notify nhtsa and then initiate the process for doing a recall. that's what's under investigation right now. april 3rd, deadline when they have to comply with the request for this information. back to you. >> phil, thank you very much. we will get you up to date on the markets and the latest breaking news when we come back. there's a look at exxonmobil,

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let's get you up to date on the markets right now. we have deepened our losses, not by much, but a little bit. the dow jones industrial average

giving back about 43 points on today's trading session at just above the 16,352 mark. the s&p 500 fractionally to the down side, about half a point or so at ç1873.31. the nasdaq holding on to an advance of about four points. we will see if that lasts into the afternoon session. how does the fed feel about the economy at this juncture? we are just minutes away from the latest beige book, that's coming up. plus the top stock winners on kind of a mixed market day. back in two. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present.

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all right. we are moments away from breaking news on the fed's latest pulse of the u.s. economy. the dow jones industrial average is up about 40 points on the trading session. a fractional loss in the s&p. but the nasdaq is up about 3.25 points. three winners, facebook, brown forman and bank of america. with some pretty significant percentage moves to the upside in all of those. all right. bob pisani is with me. a number of financials are doing well. perhaps not unexpected we would have a little consolidation in this market. >> of course we will get news from the fed shortly, hopefully, but bottom line is everybody's throwing out february numbers right now.

adp disappointing, didn't really matter. they are throwing out everything in february. all we want to see is what's going on in march. >> hopefully the weather is better in march.ç that does it for us. >> that's right. that will do it for a wednesday edition of "power lunch." >> breaking news on the fed and the economy just moments away. "street signs" begins right now. see you tomorrow. welcome to "street signs." the federal reserve releasing its beige book for february saying severe weather impacted much of the united states economy during the period. the economy, however, continued to expand with eight districts of 12 improving and most of the economic gains however were modest to moderate. retail sales, auto sales, vast swaths of the economy weakened due to weather. real estate, however, continued modest improvement in several areas. many districts citing low home inventories and continued home price appreciation. employment levels gradually improved for most districts and there were skilled labor shortages that continued