america is really dissatisfied with this president. stuart: yes, it is. dagen, it is yours now. dagen: home prices starting to slip here and professor robert shiller talks about his new report. a milestone for tesla. coast to coast. the latest on the sick ship at sea. hundreds sickened with gastrointestinal distress forcing that ship that cold. all that and so much more coming up on this hour of "market now." ♪ connell: market now before gastrointestinal distress. connell: welcome aboard,

everybody. we will have bob shiller coming up in a minute to talk about home prices. nicole petallides is at the new york stock exchange to start us off. nicole: apple right now is down seven and a quarter percent. some of the commentary that i am hearing is even when you've read about it, oh, well they did not meet the lofty expectations. the dow is 91 points.

turning things around here on wall street. connell: home prices falling. overall, prices have risen 14% over the past 12 months. what should the take away be from this morning's report? >> this was a strong year. we had record low mortgage rates at the beginning of the year. now they are up substantially. now we are talking about the taper. we cannot expect this to continue. not at this pace. you talk about mortgage rates

and interest rates generally going higher. you use the word taper. what is your expectation? is this the start of something big? give us a little bit of an outlook going forward. >> if you look at seasonally adjusted, they are still up close to 1%. it is not just based on recent slippage. there seems to be some weakening. we do not see it in our numbers. the home prices will go up. just not at this blistering pace. connell: okay. fair enough. still gains in prices going into the spring and summer and fall. just a slower pace. what type of housing market, is

there an adjective or something that you would use to describe it in terms of what the rest of the year look like? >> you can look at the curb at the cme. home prices, this is a relevant statistic, a little over 20% in the next five years. that is only like 5% a year. if we hit target, something like 2% a year. 3% a year home price increase. that sounds reasonable to me. it is nothing to get excited about. connell: right. or to get overly worried about. boring is good sometimes. let me talk to you about tonight a little bit. the president's state of the union feared we have been told that income equality will be a big focus. part of the speculation is

increased access to credit and the government coming in and helping people. you mentioned rising interest rates. is there a government role that you see increasing in the market? >> as you know, i have written several books on what the government should do. i believe in markets. free markets. the government has a role. it already regulates markets. the biggest thing that the government should do going forward, in terms of housing, is encourage the private sector to divide better products. this crisis was caused by declining home prices, putting household underwater. their homes are worth less than they owe on their mortgage.

they leverage, a diversified. we need to get back to free-market common sense. connell: what are you talking about specifically? >> this crisis. >> let's create a plan in advance. everyone looks at it with both eyes open. it is not an after-the-fact government intervention. let's make a plan so it does not happen again. dodd-frank recognized this. they asked hard for a study of what they called shared appreciation or gauges. i called todd the other day and they still do not have it.

connell: thanks a lot. dagen: rate to see you, bob. let's go back to the weather. winter weather hitting the deep south. bringing severe cold temperatures. connell: how are the conditions where you are, jonathan? >> they have certainly changed over the last 12 hours. we are just below freezing. we are experiencing right now a mixture of rain and sleet. it is expected to turn into snow this afternoon with a good chance of icing on growth and ridges. they do have plenty of trucks on

standby. they do not have the vast supplies of heavy equipment and materials that you may find in communities in the upper midwest to deal with the winter storms. you are likely to see some secondary roads or bridges inevitably freezing. that is what officials are urging people that do not absolutely have to be out in the elements to stay at home to be safe. dagen: what are the additional impacts on the region? >> we are talking about a huge region. going from communities in texas all the way to the carolinas. already reports of roads icing in austin texas. the johnson space center in houston is closed today with the exception of a view critical operations such as mission control.

they are telling nonessential employees to stay at home so they are not out on the potentially icy roads. individuals are going to local grocery stores. they had to restock their shelves with bread and milk three times already this morning. >> i love this weather. i go to baltimore to visit my kids. i am enjoying this weather. >> the weather is having an impact on air travel as well. delta airlines have canceled more than 1800 flights today. connell: jonathan, thanks.

dagen: is whether system reaches into southern virginia. they are staying inside. not going on the road. the first cross-country trip now in the books for tesla. connell: we will talk about that coming up. this sick cruise ship making its way back to port. dagen: more on tonight's state of the union address. charles payne joins us to talk about what the minimum wage means for companies like burger king. ♪

sometimes they just drop in. always obvious. cme group can help you navigat risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. dagen: breaking news on apple. let's go to nicole. nicole: karl icahn is putting his money once again with the backing of apple.

he added $500 million worth of shares. now, today, saying you know what, i just had another $5 million worth of shares. he is waiting for them to obviously expand the purchase program. he is saying that the buying seems to be going neck and neck with the buyback program. back in apple here. connell: thank you. the ticket search engine, 20% of super bowl seats are still available. the game is sunday. the cheap seats have come down nearly 50%.

the lowest is $1150. this could be the cheapest super bowl to go to since 2002. the weather is one thing. people have to travel and pay for the hotel and everything else. dagen: at the hotels are ridiculously expensive. dagen: if you want to come to new york, come when it is not a super bowl. the trip took six days. consumed just over 1600-kilowatt hours. separately, tesla says it will

be sending two of its own teams on a reverse trip from l.a. to new york. driving a direct route from new york to los angeles can take as little as 60 hours. me, about 45. connell: i was just wondering how fast you drive. dagen: in terms of luxury. driving a nice vehicle. connell: ben bernanke may want to ride out into the sunset at this time. dagen: more than 606 passengers causing a royal caribbean cruise to head home early. we will talk about what this means for the industry. there you go. take a cruise, get sick.

♪

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>> 21 minutes past the hour. the second trial for former egyptian president adjourned for about a month. it will give the lawyers more time to review the case. morsi is accused of organizing present breaks. thailand's government announcing it will go ahead with a parliamentary election. folks singer and songwriter seger has died. he was also an advocate.

he was 94 years old. those are your headlines on the fox business network. i am lauren green. dagen: it is time to make some money with mr. charles payne. addressing the minimum wage. connell: charles is here with a strike of sorts. what the president should be focusing on. charles: by the way, you can cherry pick where you want to pick it from. after you go through the first time, it was about a quarter. here is the reality. 1.6 million people are on minimum wage. about 2 million make less.

less than 5% of the working population. the companies that pay out this -- i did a study with burger king, for instance. burger king on the september quarter for company-owned stores , 27% on payroll and benefits, 90% on brand occupancy and another 5% on depreciation. that does not leave a lot. then there is another even greater reality through all of this. we look at these corporations and they are making so much money. you want to see what they did around the world. same-store sales were down. the company closed 13 stores. the middle east and africa are up. asia-pacific open 39 stores.

sales were up 3.7%. connell: i know the social part of it, are you here to sell these stocks? charles: i think it would have a negative impact. it is driving a wedge in america. it is absolutely crazy. from a practical point of view, it makes no sense. connell: thank you, charles. back to the bone chilling cold. it has hammered the midwest for the last few days.

dagen: maria is in our weather center with hopefully some good news. >> you are looking like you will be seeing relatively chilly temperatures and below average. along the gulf coast, you will have a quick warm-up. before we see that, today you are dealing with snow, sleet and even freezing rain. we are already seeing reports of roadways having a glaze of ice on them. conditions can be very treacherous for any driving. we do have a ice storm warnings where we are talking significant ice accumulations.

it will not be gone until tomorrow morning. eastern north carolina, that is where you are looking at more of the significant snowfall accumulations. take a look at saturday. atlanta in the 60s. it will feel amazing. connell: thank you. cheryl: thanks, maria. royal caribbean cruise ship heading home early. over 606 passengers on board. how do you decide which accrues to go on. connell: we only have good news on the show today. a page from history revisited.

a plague may be making a comeback. stay tuned to find out more about that. dagen: how about rats? we need some rats videos. ♪ [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening onthe tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade. there's nothing like being your own boss!

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connell: still coming up on markets now, were that chinese president will take the lead. google taking its next step to bring google glass. this could have your insurance company footing some of the bill. the flag that could jump off the pages of history. dagen: let's go back to the

stock market. nicole petallides is there. nicole: let's take a look at how comcast is faring. jumping over 1% right now. 1.7%. of $0.94. 53.44. the largest u.s. cable provider. by the way, quarterly subscribers sometimes more than six years. they continue to build upon that. great news for comcast.

connell: these concerns about the emerging markets and the stability of the markets. they could take center stage. the asian president is personally stepping in. connell: could this be a warning sign? should we be concerned about a move like that in china? >> we need growth out of china. connell: it has been in the conversation. investor confidence polls show people are pretty confident. is it because it has not reached them yet?

>> good question. it has had a real boost over the last month. it shows what actual institutional investors are doing. this is a real not to fed policy. they are also seeing u.s. growth coming on track. that is why we sought u.s. investor growth shoot up. dagen: why the selloff here? >> the u.s. investor, that is not what we are tracking. we are tracking big institutions. pensions. real money. they will be thinking of allocating their portfolio. connell: can you draw this much of a conclusion, maybe the confidence that they are showing would lead us to believe this is a healthy correction.

we talked about this a little bit yesterday. the ugly word is, of course, contagion. >> we will watch what unfolds in emerging markets in the next couple weeks. any surprises out of china, that is what we will be waiting for. dagen: why could it not be a global mispricing of assets. basically, everything is overvalued, therefore we could see an unwinding of some sort of @ll asset classes. >> there has to be reallocations. where the reallocation goes, if it goes away, we will see markets go down. we are probably seeing more out of bonds and into equities.

it would really be a question on whether or not we see equity markets go down. connell: do you think we will know in the next month or so? >> i think emerging markets central bankers have been wondering for a long time how the global economy will react to tapering. the question will just be, do we see a lot of news that spooks more of the retail sector. does that start to take hold. do we start to see institutions pulling back on those broader concerns. what we do not want to see is surprising central banks policy or anything bad out of china. dagen: bundle of. thank you for the lead in. not as bad as chicago.

continuing to be ground zero. connell: the actual air temperature is four below zero. the windchill is 22 below. jeff flock is not need to be told about that. jeff: i have one of these little handheld weather meters. we are talking plus 20 degrees windchill right now. i try to dress a little less intensely today. you look at chicago. it is just one of the places that are in deep windchill today. the cold is now into the south. if we take a look at the latest radar now, you see this winter storm that is coming across the south and the east.

freezing rain, snow, all sorts of precipitation. all of these buildings you see surrounding this downtown chicago, heated with natural gas. we had a 43 month high at the end of last week. we continue to get cold in chicago. we have a windchill advisory until 9:00 o'clock tomorrow morning. minus two. it is a little warmer in my hand. dagen: there is nobody in the street except for you, my friends.

connell: jeff, thank you. dagen: thank you, jeff. dagen: jeff flock. connell: a rapidly spreading stomach bug. the ship, it is hightailing it back home. dagen: a lot more of these outbreaks happen every year then you would like to think. connell: i would not like to think about it at all. dagen: yahoo! reports after the bell today. connell: google glass. aiming for the masses. jo ling kent will have the details on that. ♪ my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you

at 5 times greater risk of stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning.

if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. ♪ >> i am lori rothman with your fox business. january number p expectations and was the strongest reading and five months. consumers feeling more upbeat about the labor market and the whole economy. it is the biggest the client and durable goods orders since july.

the expectation was for orders to rise. fourth-quarter results topped expectations. the 2014 forecast is lower because of 11 weeks of scheduled downtime. that is the latest from the fox business network. giving you the power to prosper. ♪

dagen: explorer of the seas coming home two days early after a neural virus sickened more than 600 passengers. connell: do not go on any of the ships is the first way to prevent it. >> there are a couple of

reasons. if one passenger is sick and then comes on to the cruise ship, they can spread it to the other people. just think about whether they touch the serving utensils and then everyone afterwards touches it. sometimes the food or the water itself can get contaminated. then everyone who is having food can get it as well. dagen: it is safe to say, i mention this reflate yesterday. the entire page is dedicated to that. it is year over year. you run the risk of contracting one of these viruses if you go on a cruise. last year there were nine. there were 16 outbreaks.

>> you always assume that you will not be the one that gets sick. if you have any question about whether you may get sick, just drink canned beverages or otherwise bottled beverages. don't drink the common water. they think that they are being healthy by having the fruits and vegetables. connell: less than zero chance that i will ever step foot on one of these cruise ships. they are all gross. >> you are more likely to get sick on the cruise ship.

you are still more likely to wash your hands. on a cruise ship, if you are the person who is sick, where are you going to go? a plane it is a limited amount of time. on a cruise ship, it is four days. even if a passenger came onto the ship and was sick to begin with, it must have spread to one of the food handlers. for one fifth of the people to get sick, it cannot just be one person spreading it around. connell: drink the bottled water and cans of soda. do not touch people. >> you can use hand sanitizer.

dagen: just washing your hands and incredibly hot water is better than hand sanitizer to both can help. alcohol -based hand sanitizer's are better than just washing your hands although you want to wash your hands also. hand sanitizer can be helpful, but they will not absolutely protect you. connell: thank you. dagen: with three children, one of them gets the vomiting and diarrhea bug, it spreads to the family. connell: no. we just throw them out of the house. [laughter] before it the bubonic

plague may be making a comeback. they have found it is the same strain of pathogens that cause the bubonic plague. the news is disturbing. it shows that the strain has appeared twice with no reason. it proves it could show up again. connell: simply have no no original video available. investors have a question or two on their minds. karen mercer mayer deliver on her turnaround plan. >> the company ends itself on the hot seat.

one of the biggest in history. yahoo! shares of 84% in 23rd team. this is what has everyone concerned. will they come up with a turnaround plan. marissa mayer, obviously, as i said, in the hot seat. revenues of $1.2 billion for the quarter. a lot of the hot expect haitians are based on hourly bob off. what will the impact be? if i bring up a longer term chart, bringing back to when marissa mayer took over, the stock is up 135% under her

direction. and that is 31%. yahoo! shares earning expectations. it will be a huge one for everyone to watch. dagen: what is the latest diet that madonna is on board demi moore. it has to do with the moon. the moon did not make her look like that, though. that is a doctor. it looks like she is waxed. connell: prescription lenses for google glass. will your insurance company help out? we will be right back. ♪ can you start tomorrow?

yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.

dagen: celebrities like madonna and demi moore are said to be big fans of the new diet called werewolf diet. the moon affects water and our bodies in the same way it determines the oceans tides. fasting with juice cleanses during a new moon or a full moon can help you lose as much as 6 pounds in a single day. there is a website out there. if you are interested in that. connell: google keeping up with the vision care. offering prescription lens options for google glass. wearable technology.

dagen: jo ling kent has the story. >> offering prescription lenses. it will give google glass access to roughly one in five americans plus 30,000 doctors. it will become available towards the end of this year. the new prescription option means google glass could become an option for up to 110 million americans who wear glasses. google stock right now is up about one and a 3%. connell: ford beating profit targets.

dagen: ceo of logitech on how the company is reinventing it self. dennis and cheryl are up next. ♪ and she might have ifotor kari, the identity thief who stole ji's social security number to open credit cards, destying jill's credit and her dream of retirement. every year, millions of americans just like you learn that a little personal information in the wrong hands could wreak havoc on your life. this is identity theft. lifelock offers the most comprehensive identityheft protection available.

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remarket common sense. the government could be involved in encouraging people to do this. dagen: free markets, presidential power and the state of the union. i am cheryl casone with dennis kneale to take you through the next hour of a busy markets now. president obama is set to raise the minimum wage for some americans with or without congress. even some democrats are lukewarm to that idea. we will debate that coming up. ford and deer topping profit targets and getting ready to relaunch one of the best sellers, at chief financial

officer bob shanks tells us what is ahead in moments. the deep freeze down south, ice and snow expected to cripple the southeast. thousands of flights canceled, we have the latest coming up. all this and more in the next hour of markets now. it is going to be so interesting see how the travel sector either recovers or does not after the january that is breaking records all over the country when it comes to temperatures with flight cancellations. dennis: coldest winter in a century said they are coping with thousands of flights. cheryl: markets go higher today, five session the down days. dennis: and we have top of the our stocks every 15 minutes, nicole petallides on the floor of the stock exchange. little bit more optimism or fear today. nicole: the vix is to the downside and that has been unusual because you see the vix

running up and markets to the downside, you have this inverse relationship, concerns about volatility, and it is down 6%. that brings major market averages, the s&p and the dow higher by 1-third of 1%. nasdaq which apple is heavily weighted in the nasdaq index, obviously contributing to the nasdaq's down arrow down 3.5 points. plenty of winners on the dow such as pfizer, verizon, gee, american express leading the way, royal caribbean and carnival cruise, ford came out with numbers, let's focus on apple, apple came out, a record 51 million iphones but the expectation for the analysts were 55 million so shy of what everybody hoped for. the outlook a little tepid so they gave an outlook that was flat and that was not good news. one other piece of news, carl

icahn tweeting he bought $500 million worth of apple shares bringing up to up over $4 million so we will continue to watch that. he is all about the share repurchasing. cheryl: we will see you in a little bit. president obama set to layout his agenda for the rest of the year. the white house releasing video of the president as he prepares the fifth state of the union address tonight. peter barnes live in the white house, what we can expect to hear this evening. peter: you can expect to hear a lot about executive orders and executive action, given the president's standoff with congress, republicans in congress on a lot of his priorities and legislation. he has kicked all of this off today with a new executive order that will require federal contractors to pay their workers

at least a new minimum wage of $10.10 an hour for contracts going forward, new contracts. the federal minimum wage is $7.25 an hour. some legislation from senate democrats would increase it to $10.10 an hour. the president has been pushing for higher minimum wage for quite some time but it has been blocked by republicans. the president's labor secretary told us the president will use executive actions and executive orders to advance his agenda if republicans don't want to work with him but the speaker of the house was not very impressed by this first effort this morning. here is what they said. >> it is about delivering results for the american people. they want fair wages, access to opportunity, and we want to do that with congress and if that is not possible we will figure out other ways to do it. >> only affect future contracts with the federal government so i

think the question is how many people will this executive action actually help? i suspect the answer is somewhere close to zero. peter: i did ask the labor department with some estimates for how many workers this might affect and they haven't gotten back to me on that yet. another initiative we will hear about tonight, a voluntary commitment by major corporations in the united states to give a second look not to discriminate against the long-term unemployed in hiring decisions. according to the wall street journal the company signing this pledge to do this includes xerox, at&t, lockheed martin and procter and gamble. dennis: a follow-up question. the number of people affected by this minimum wage would be 39% increase in minimum wage but we only have 3 million workers in the entire country, in the entire economy on minimum wage and have the mark under age 25.

is this more about symbolism than actually putting money into the economy? peter: you said that, i did not. dennis: thanks for being with us, peter bonds. will the president sounds the right seems and offer up the right tools tonight? here is what they expected it tonight? liberal commentator alan colmes and the new fox business show the independent camille foster. what do you expect to hear tonight and will it succeed? >> i expect the theme of inequality has been talking about for so long. suspected won't be quite as want the. we will hear about the minimum wage and other policies he thinks will help people, be better off in the long run. the one issue a lot of the policies are pretty shortsighted. i don't know that boosting the minimum wage is actually a sustainable way to improve the quality of people's lives. in a meaningful and tangible fashion. >> he's doing it for government

contractors, hopefully congress will do it for the rest of the economy which is good. i would like to see him address and this is not getting a lot of attention about the state of the union address, obamacare. lot of people are confused, don't know -- those we are signing up are linking debt but to further explain why it is important to get people into the system. dennis: can you afford to talk about obamacare? an unmitigated disaster, of 2 million people signed up well under a third of them were people who were uninsured previously, not even helping the people we mental health. >> they can't help but contrast -- talk about his signature policy accomplishment and the president will do his best to spin this in a positive direction. the reality is the fallout from obamacare conservative talk show of the packet technical issues weather in the beginning and sign as word happening, they lowered the bar in terms of what success looks like for this legislation. the president can point to the fact that people are signing up in droves and the problem with this legislation is not going to come until later. for example year from now when

the white house is almost certainly going to be paying out money to insurers because of shortfalls they weren't expecting because young people are not signing up. peter: more people are signing up. >> the number i hear from the administration, it will be more of a success. dennis: 24% young people and they needed 40%. >> these are projections a lot of people don't want to succeed. dennis: it seems the top priority was obamacare than it seemed like it was climate change but now he says the rest of his presidency will be devoted to income inequality gap. the thing income inequality is the biggest problem? >> i don't know when his top drawer in this climate change. it has always been important, income inequality and the economy and making sure people can make a living wage is always important. that line about walking and chewing gum at the same time he can do more than one thing. >> income inequality strikes me as the canard.

if we doubled everyone's income in the country income inequality would skyrocket but people who are making $20,000 would not be making $40,000, seemed the wrong place to focus our attention of reactions turned -- >> if we raise the minimum wage to $10, 39% increase, aren't the folks who were making $10 an hour going to expect 13? won't the folks making $13 an hour went 16? i don't want to earn the same as a guy with no experience. >> as inflation takes place and things cost more, 40% of people on minimum wage are getting food stamps which is taxpayers subsidize you will stop the taxpayer from a subsidized -- people on the government goal -- dennis: half of minimum-wage workers are under age 25 and people on an average of one year into if we raise minimum wage don't we end up raising the cost of a hamburger they make? >> all of that is right but what we might see is people who just

lose their jobs, some folks who are working, what does the low-wage come from? it is not created by fiat the we like it -- it is the dynamic of the market place. your labor is worth -- >> if you want to make more money you do more. >> every time we go to the conservatives claim it will hurt prices, more consumer prices, people get fired and it never happens. you got to raise the minimum wage. >> nonpartisan study says we will this have a million jobs and you lose the minimum wage. do you think the minimum wage is the way to eliminate the wealth gap? >> it is one thing that can be done. paying $50 a year -- >> we start there. why not do it. >> what is the other plan on the other side? >> getting out of the way of business. >> it has never worked. the reagan era is over. trickle-down economics -- was supposed to raise people of poverty. >> free market economics is the

number one way to elevate the law of poverty. >> don't you think it worked under your how clinton? >> a lot of things were going on, the internet boom was helping the economy. trickle up is what we got to do, not trickle-down. put it in the hands of people are going to spend it. >> the obama administration has been bashing business and bashing the banks, you didn't build that, government help to you. >> that is taken out of context with so tired of hearing that. >> i watched it and read the entire -- that is accurate, not out of context at all. >> you didn't do the work to build that. you know that is true. i would quibble with that. there's an insinuation made that we are all -- dennis: do you think the obama administration policies have done nothing to hinder the economic recovery? >> could have done more by getting more money out faster,

bigger stimulus, shove it in the economy. biggest stimulus, shoving it into the economy faster that would have helped a lot more. dennis: wasn't that einstein's definition of insanity? i love you crazy not, thank you very much. fox business got you covered tonight starting at 8:00 eastern neil cavuto hosting an hour-long special coverage leading up to the state of the union followed by stossel and camille on the independent. cheryl: watching a lot of other news including this, bracing for the blast. americans for louisiana to the carolinas racing to get ready for a deep freeze. we are going to be live from alabama coming. check shares up another 3% today. ceo tells us how the company is reinventing itself. that is straight ahead. welcome back. how is everything?

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cheryl: the numbers are in, ford motor co. reporting fourth quarter instead be expectations, the dow 30 for you, a shot of that, doubt of the 6 points, earnings coming in, talk about ford for a moment. if you look at 2013 for ford it was one of the best years in the company's 100 year history. let's bring in chief financial officer bob shanks. good to see you again. >> good to be here, nice to talk to you. cheryl: north america, china, i want to get your take on what is happening, earnings positive out of the country but we are hearing a lot of debate whether

china is actually going to fall, the economy is in trouble. what you seeing on the ground for ford? >> we are seeing continued growth, 7% gdp growth is our outlook for 2014, we expect that the overall automotive industry will grow in 2014 as will be. everything we are seeing, the growth will continue this year. cheryl: let's talk about the numbers. as we go into the earnings report there were several analysts that pull back, and downgraded estimates by 25%, you came in above that but there's still concern in the analyst community about earnings per share. how dooyou build that in 2014? already warned about pre-tax profits, what is the strategy? >> as you said we did go to new york in the middle of december and gave an outlook in 2014 which resulted in the adjustment

we talked about and came close to what we expect in terms of our results so i don't think there's a surprise. the good news was around tax rates so we are looking at the same solid year in 2014 we talked about a month ago with profits around $8 billion and that decline from 2013, the decline is around an unprecedented number of product launches in 2014. triple the number of launches. new f series. cheryl: so you have a lot of points in the u.s. and north america but also emerge in markets. what we have seen with the market's falling the past five sessions and today looks like we will turn the market around but a big piece of this is emerging-market problems and pressures. you have issues in venezuela and argentina, basically a currency issue you are facing and that is hurting production. is that going to change or it

will get worse considering what we are seeing overall? >> the two countries are very different. venezuela is being managed in a completely different way by the present government and we have taken production down 3-quarters in order to just ride it out until we see which direction the government will go in terms of policy and access to dollars. in the case of argentina we're seeing acceleration of devaluation of the currency and high inflation which is building, this is a cycle we have seen before, we know what to do when that occurs in that market and we have to ride it out. it may result over time in a better competitive position in terms of exports we would have from argentina but we have to wait and see. cheryl: i want to ask about japan, with the fall of the japanese yen that is helping your competitors, toyota and honda. the chief financial officer, you better than anybody can advise

alan mulally about currency fluctuation. what do you say about the issue of japan? >> one of the things we talked about is we are in discussions with a number of countries, free trade agreement in the trans-pacific ariane and one of the things we strongly suggested to the government not only in this free trade agreement and any others we do there has to be a mechanism in those agreements that dictate currency can't be manipulated that has to be left to the forces of the free market. what we have seen is huge competitive advantage to the japanese manufacturers through the end of the last year for 18 months and that is showing up in the competitive pricing environment particularly in smaller and midsized vehicles. cheryl: certainly congratulations on the full year and i know many shareholders are excited about alan mulally going to be around for the next year so you have the same in place.

we congratulate you on the quarter, thank you. dennis: the state of the union address, the state of the union, the state of the presidency is in tatters. president obama sees two as one and the same. he will unveil drastic and desperate measures to fix the mess he made. he will pull a end run around at recalcitrant congress and order the federal bureaucracy to do things even its own party won't pass into law and he will tout this petulant plan to the very congress he is circumventing. such a charmer. dictator's dream or a last resort by a man who can't make friends or persuade anyone to do what he wants. whatever happens to the art of compromise? the minimum wage from federal contract workers shot 40% because the president said so. let's make the irs crackdown on tea party group standard

procedure because he said so, carbon emissions and utilities and could coal out of business and willfully ignored penalties in obamacare a news the fed to investigate the president's opponents. and this from up president who taught constitutional law for 12 years? is president obama right or wrong to pull end run around congress? cheryl: the northern half of the country had its share of cold temperatures and the south is feeling the freeze, details on arctic blast coming up after the break. mine was earned in korea in 1953. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation.

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cheryl: winter plaque in the wall, and rare storm in the southern part of the country, janice dean joins us in the studio. >> let's take a look at the big map where we are seeing the worst of the cold temperatures across the upper midwest, these are current wind chills, you get the picture and it gets as far south as the deep south, where we have a winter storm going

gone. the current windchill 17 is what it feels like in dallas and look at what we are seeing, the ice and wintery mix and the snow across the deep south, if you singh is at 30, 31, roads are slippery, they closed the interstate because of this winter storm stretching towards the southeast, look at atlanta, georgia, snowflakes right now, up toward the carolinas where we will see the jackpot of snow. winter weather advisor southeast texas to the gulf coast, something you don't see very often once in a decade, these types of winter weather advisories for this extensive amount of real estate, and freezing mornings for a south carolina, the jackpot we think we will see the most snow is across the mountains of the carolinas, maybe even six inches or 12 inches of snow. i know it is dangerous but a lot of suffering kids are having fun

in the snow this afternoon. cheryl: thank you, good to see you. dennis: the deepfreeze hitting the deep south as you just heard at fox news's jonathan seri is in montgomery, alabama, it is kind of cold, take it. >> you see this overpass, highway 231 as it goes over interstate 85. they cleared away a wreck in the last hour, road conditions extremely slick as we are seeing icing on roads, bridges and parking lots. many setting communities don't have the types of heavy equipment you would see perhaps up in the upper midwest deal with the severe winter storms. a lot of companies are hiring private contractors to spread sand and salt in places they run out of industrial salt and feed storage to feed salt which they say works as well. as far south as austin, texas,

houston, nasa closed the johnson space center. other than a few critical operations such as mission control for the international space station which remains open. individuals are making preparations, we went to a local supermarket that had to restock its shelves three times but we spoke with one customer who takes the ball in stride. >> i am going to -- go home and make some food. >> atlanta based delta air lines canceling more than 1800 flights today as our results of this storm. the storm having a big impact on air travel, not just ground transportation. dennis: thanks very much. cheryl: the minimum wage debate firing up ahead of the state of the union. nothing but a job killer, he will be joining us coming up.

dennis: as we head to break it is coming down in georgia. a picture of ice and snow in harrelson county. we will be right back. hi, are we still on fo tomorrow?

tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow i we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 mes on one gallon of fuel. what a day. can't wait til tomorrow.

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we are thinkers. the job jugglers. the up all-nhts. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where we can s, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreamers into business owners. and we're here to help start yours. cheryl: coming up on markets now president obama bypassing congress to raise the minimum wage for some americans. one small business owner shares his reaction in moments. computersmaker trying to reinvent itself and finding success. ceo is here. he has won two oscars for his screenplays, not clinton tarantino suing over the leak of his latest script. that and more coming up in the

next half-hour of markets, stocks every 15 minutes, let's go to the stock exchange, nicole petallides watching big movers. nicole: a lot of green today, a different picture than we were seeing on wall street, a mixed bag, don't expect all green, watching apple closely which is down 7% after they came out with a record sales but they did not meet expectations of the analysts and as a result to the downside. carl icahn boosted his investment another $500 million worth. yahoo! up 1% going into the closing bell, numbers "after the bell," abercrombie and fitch, splitting the chairman and ceo role, stock is jumping, a lot of that. pfizer number one on the dow doing well after good sales for cancer, and american airlines, after its merger, new high today, doing well there. cheryl: thank you so much. dennis: state of the union

address tonight the president is expected to make the case for raising the minimum wage citing the support of costco and other big companies. liz macdonald has been looking at the downside and the bottom line. liz: this is really about the cookie cutter approach the one size fits all model works for all companies raising the minimum wage is good for all companies, the president is expected to cite the backing of costco, trader joe's and starbucks, the lists of the companies that are seeing raise the minimum wage but you may hear the comparison between costco and walmart, walmart should raise the minimum wage and so should costco. this is not an argument for or against walmart's business model the pointing out the fact that costco's cost structure is more different than walmart. you see here essentially costco workers get paid starting at $11.50 an hour. costco has a fraction of the

storage walmart has, 648 u.s. stores, 3700 items and basically one eighth of the u.s. workers, and shoppers, wal-mart has eight times the number of workers than costco. dennis: worker pay started at $9 an hour and a minimum wage $7.25. cheryl: walmart says they do promote those people out of those ranks into higher positions, two thirds of minimum-wage workers often moved up the corporate ladder the company ladder. the other thing is the argument about raising the minimum wage will hurt grocery stores where the union movement is very active in the grocery store chains. haven't heard the union movement saying it may not be a good thing for grocery stores to raise the pay of the workers given the fact that they could see layoffs or price increases or benefit cuts in other parts of the company.

dennis: they earn one penny of profit for every dollar of food sales. thanks very much. all little perspective as you see the president. cheryl: speaking of the minimum wage debate, the whole idea of a minimum wage on a national level is ridiculous. green leaf said -- laughing as i say that, right next to me, small-business owner, you say minimum-wage goes higher that is absolutely going to affect how you hire or you don't hire more specifically we should say. >> really a shame. i have a bunch of in turn to work for us, we could have 20 to come work force, we can only afford five because the minimum wage as such we were forced to pay these kids to do. they would love to work force for no money at all, great experience, the only book publisher of a regular size, given great experience on their resumes, happy to do that at no cost the government comes in and misses of the formula i can't hire at all. cheryl: president will say, we have been told this by the white

house, talk about income inequality, inequality will be his big message, trying to get off the health care debacle from last year, but that will resonate with some people, business owners you talk to that say i think this is a good thing for the country? is it mostly they agree with you in that it will hurt their company? >> someone would agree with that logic, i have yet to meet that person. if you want to do something about income inequality stop printing all this money which is raising the markets and increasing it that much more. cheryl: you are tired of being threatened. what does that mean? >> every time somebody says whether the mayor of new york the president saying the well the's fault that we need to punish the rich, bring in comes equal, what it tells me is i need to pull back, obviously i have the means -- cheryl: rhetoric you hear from the president as a business owner makes you and your fellow business owners retract, pullback, is don't spend as

much, capital investment. >> i have three little kids and want to protect my well for himself will hire good accountants and attorneys and make sure my wealth is protected and all that money is not being invested in the company. cheryl: looking at jobs has been one of the biggest downfalls over the last six years, the number of employed gained 2%, 2%, and if you look at median household income, since this president has been in place it is down 7%. >> it scares the heck out of me. the roles of food stamps increased from a 11% to 20% of u.s. households. it scares me and i wonder where we are headed if we give people free government money where their incentive to show up for work if they're making more money on unemployment or food stamps. cheryl: at an end of the day one of the things the white house has said if you are likely to discuss the fact he will bypass congress we know that and are expecting that what does that do to american business especially small business? >> i am wondering at what point is rule of law going to matter?

greta van susteren esteban and that scared me a little bit and now this new rule to write whatever all we want, i can do whatever i want. cheryl: what about taxes and regulation? you are in texas which is a good thing for business owner if you are living not paying taxes some of us in new york are, what do you think overall is going to happen in the next couple years? we are getting more federal restrictions on business owners and many ceos are being attacked for being wealthy and creating wage gap in this country. >> ceos are not stupid, the wealthy are not stupid, they will see more movement to places like texas and new york. there's a war on wealth by what i want to be punished or treated like garbage? say what you will about rick perry but he as a pro-business governor and there's a pro-business state. cheryl: you see rick perry -- look at that.

>> he was recruiting. cheryl: great to see you in new york, you will head into a deep freeze in texas and want to stay here. >> charles: degrees there. dennis: in your media minute online legal flap two court cases involving golfer and twitter shed light on whether on liners get the same first amendment protection as tte old media they aim to put out of business. clinton tarantino following a lawsuit yesterday against golfer, posted a copy of a new script that leaked out after he showed it to three actors. the case might be laughed out of court. courtney love when the jury verdict and the libel lawsuit filed against her for a tweet she posted blasting her attorney five years ago. she felt betrayed by the lawyer in a fight over the state of her late husband kurt cobain. meant for the message to be private and took him down right away.

the al-jazeera america cable news network is moving to a better location. from the cable dial the news network occupied channel 181 on time warner cable systems in new york city bumps up to channel 57. right next door to cnn's h l n and 31 channel slots ahead of cnn. we will see if it is a move up resulting in ratings. cheryl: shares of large attack on a tear thanks to a hot sales of i.t. accessories. the ceo coming up. dennis: i told you what is bugging me about the state of the union address tonight. your take on it ahead. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin

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index up 13.7% year over year matching the estimate. it will rise in eight years. that is the latest from the fox business network giving you the power to prosper. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently,

if we want to be ready for a longer retirement. ♪ dennis: logic tech shares near at three year high after the company beat the street, especially impressive given its origins, maker of computer mouse. how did company do it? the ceo joins us now, thanks for being with us. you have been ceo for a year, so far so good. what is the secret when you have to ship out of the market, and into a market that has all growth like tablets. >> the secret is creating an amazing product so we're consistently trying to create better and better products, have a couple that have run the bell and and and have a lot more. dennis: tell us more. >> two in front of me.

this is amazing, the you e. bloom, bluetooth speaker, if you by two of them, it will be in hysteria, this one is awesome. dennis: you can take it into the shower to cover up your own terrible voice when you sing. >> we have lots of new keyboard covers for the ipad, regular covers for the ipad or samsung, this is one of them. you see it is beautiful, and it is amazing too. dennis: i thought the whole idea of a keyboard and on for a tablet misses the point, and what do you say? >> certainly, i use a mac a lot. 4 person who wants to have a type of experience with tablet is fantastic. dennis: hardware approach as the keyboard that collects in, into a case that might want to use

anyway, that was a smart design. >> people love the convenience. this one, we have a couple different versions, we called this, you see this looks more likeethe ipad, it clicked together too. it is a great experience. dennis: you have a license and approval and design, and figure reverse it here. >> apple is the best at keeping secrets from the world. the dual wonderful job keeping everybody wondering what they are doing next, we have to design these by ourselves. it is a level playing field. apple is democratic about it. we respect that, we like that. dennis: the ecosystem that built up around his apple products how do you go about navigating when apple shifts you have to shift? when they went from the iphone iv with a bigger, broader plug in over to this tiny little

plug, got a nice stereo where you plug it in, made a thing that deals from that to the new little one? >> we really believe the day of the dock is done and wireless is in, why plug it in when you can have bluetooth wireless? dennis: if you want to retrofit the thing i already bought, how about that? >> there is a place for that. dennis: can you think of any newfangled that on this that are in design that we haven't seen yet? haven't dreamed of that would make it tablas even more arresting? >> of cool thing we're launching right now which is power shall controller, a control where you can stick your iphone v into it and play video games, and constantly bringing up new things for the tablet.did the c you got there, joined two years ago, did the company said that if we are not careful we could be obsolete, the pc market is

disappearing, where they already en? >> we are on the move. stay hungry as steve jobs says. dennis: and keep innovating. thanks for being with us. cheryl: move over oil and gold. here is one for you chocolate lovers. cocoa hitting a two year high as supplies are tightening. let's head to the trading pits of the cme. i am assuming this is an african story we're talking about. peter: it is. phil: it has been down but the demand is incredible. for a lot of commodities the demand happens, we are not seeing that in the cocoa market. despite concerns in the emerging markets in europe, the demand continues to be higher and right now blinders can't get their hands on enough bags. in the u.s. supplies fell 3.3% last week, that was a surprise,

shows that demand continues to be strong. a bigger story, the new york stock exchange, actually put new rules on the warehouse that hold the cocoa and coffee. right now they are changing the role, how long the warehouse can charge to hold supply and how fast they have to turn supplies over. there has been a lot of criticism about that market that traders are buying this warehouse space, holding back supplies and the people who want to use the coffee and cocoa are left out paying higher fees, the new york stock exchange is going to crackdown. we also have oil on fire today, natural gas, energy rocking and rolling and the precious metals pulling back ahead of the fed. back to you. cheryl: there will be a lot more going on at the cme tomorrow with that fed announcement. thank you very much. time for your west coast minute.

there is the map. avalanches have cut off a road leading into a town in alaska, the only road, last stop on the trans alaska pipeline completely covered in snow yesterday. transportation officials say will be a week longer before they can clear the road for any vehicles to pass. 3d scanners are being used by police in roswell, new mexico to archive crime scenes. the equipment made by pharaoh 3d create an exact copy of a crime scene so investigators can continue their work after an area has been cleaned up. the images can also get used as evidence in court. ferro shares and 3d stocks in general, one of the sectors over the last year, 3d printing companies, ask charles payne what he says, all those stocks are higher today as you can see on your screen. the farm bill compromise, good news for california's law which

faces opposition from representative steve king of iowa that eggs sold in the golden state come from hens that have enough food to spread their wings. and the law infringed on congress's power to regulate interstate commerce but didn't happen. that is your west coast minute. dennis: president obama is right or wrong to pull the end run around congress? what is bugging me. we will see how much it is bugging you. your responses after the break.

dennis: is president obama right or wrong to pull the end run around congress? what is bugging me and here's what you had to say. elaine says you are right on. glad someone is courageous enough to all-out obama's dictator actions.

hope your irs returns are okay. dale says gray monologue. obama, remove john boehner, remove obama, u.s. constitution here verbatim and gus fired at, obama has made it clear he intends to rule as though he were a dictator rather than an elected president. here's what mike kelly has to say. the president is absolutely wrong, we have checks and balances for a reason, they work, high crime. gerri: you be the judge if you think this is going to work or not. celebrities like madonna and demi moore are big fans of the new fad diet called the werewolf's diet based on a theory that the moon affect water in our bodies in the same way it determines the ocean tides. advocates claim fasting with jews cleanses during a new or full moon can help you lose as much as six lbs. and a single day. if you're into this go to the web site millenconnection if you think this is going to work for you and good luck.

dennis: from milwaukee to houston, bitter cold temperatures sweeping the nation. cheryl: in illinois a chance to tackle the unfunded pension liabilities, met with new trouble. the next hour adam and lori will hear from state treasurer. dennis: in the huddle with the seattle seahawks, fox business live at super bowl xxviii media day coming up. i ys say be thman with the plan

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it will not save the state as much money as originally thought. president obama to deliver the fifth state of the union tonight. brad blank when joins as the administration teeters on lame-duck status. adam: the city feeling close to 27 degrees. an ice warning for new orleans. the city expecting accumulations of one quarter of an inch. temperatures in houston dipping just below freezing. we find our own jeff flock in bitterly cold chicago where schools are canceled for the second day in a