♪ imus in the morning ♪ >> be honest, it was a dud, a series of small measures, not much fire in the state of the union message. good morning, everyone. there's a whole lot of fire on wall street this morning and none of it good. look at this, futures pointing to a very big drop when the stock market opens today. what's the problem here? wall street's reacting to what's going on overseas and what the federal reserve might do over here. now, look at america's technology company, still plenty of excitement there. amazon breaking new ground,

again. netflix expanding in europe. icahn buys more apple. and yahoo! marisa mayer's honor may be over. and the weather, kids sleeping overnight in schools and customers trapped in pharmacies, a big deal. here on "varney & company" we're looking for the return of prosperity and looking for leadership. oh, found it. look at this. >> tonight we can take pride in 25 straight months of economic growth, the strongest of 34 years, a 3 year inflation average of 3.9% lowest in 17 years, and 7.3 million new jobs with more of our citizens working than ever before. ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ]

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>> a massive winter storm from texas to the carolina coast crippling the south and probably

the economy, too. snow blanketing the roads in north carolina, making travelling almost impossible. schools and businesses across that state closing their doors and worse in the atlanta area. the snow essentially shutting down the roads around the city and drivers stranded out on the highway for hours and some slept in their cars. look at this, some stranded atlanta drivers spending the night sleeping on the floor of their local cvs pharmacy. check the weather map. temperatures in the south below freezing making cleanup that much more difficult. we get criticized for making a big deal about winter here in the north oohs, but this is a huge deal for the southern states. they don't have the infrastructure in place to deal with the snow. it only takes a few inches to bring everything to a stand still. this is a big deal. i've got a quick news alert for you. look at this, nsa leaker edward snowden nominated for the nobel peace prize by norwegian politicians for contributing to transparency and global

stability. to the market, a big deal here. the markets are set to open down, dramatically lower this morning, a triple digit loss, here is comes. wall street is reacting to overseas and the global economy and if the fed would announce a slowing of the presses and that's on wall street today. first though check out this video, called a historic bust. the coast guard seizing $37 million worth of cocaine in the caribbean, 2,500 pounds of it carried in a 25 foot long go fast boat. four suspected smugglers detained.

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that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day. ♪ don't stop thinking about tomorrow ♪ ♪ don't stop it will soon be here ♪ >> and those cars, don't stop. are you kidding me? a state of emergency brings half a dozen southern states to a stop. kids sleeping in buses, people stranded on the roads for hours. one is fran tarkenton football hall-of-famer. he joins us in the next hour and he's going to give us a weather report. from chicago, tres knippa. run this through for me. we're going to see the dow and why i'm linking, turkey,

argentina and the fed. go. >> everybody is going to be talking about emerging markets and the disappointing earnings seasons right now. stuart, you know what we should be doing? we should be learning about why this is happening in the emerging markets. the politicians there, they go spend money, they spend money to try to buy votes by expanding government. then, the treasury department of that country issues debt to do it. then they pay for that debt by selling bonds to the world or they print more currency to buy their own debt. does this story sound familiar? this is what we're doing in the united states. this is what they're doing in japan. these days are coming for our economy and they're coming from the dollar as long as we continue on the trajectory we're on where we continue to ignore government debt. by the way, those countries that you talked about also have leaders that make decisions with the swipe of a pen. sound familiar? >> all right, now, a nice editorial piece in the 40

seconds at the opening bell on a wednesday morning. thank you, trey. we hear you. shah gilani is with us and sandra smith is here as the u.s. market opens slightly lower. shah, to you first. we've heard about currency troubles in turkey, argentina, troubles here at the fed. link it it altogether and explain why we're so sharply lower. shah gilani? >> i think we've seen this act before. in 1997 when we saw the same kind of counter of capital and u.s. interest rates rose. in 1998 we saw russia default and the crash of emerging markets. we're seeing the same thing here. as capital flies out of the emerging markets, the near i is that if the fed continues to taper it could create a united states and makes the united states a safer haven which it always has been and the capital will be repatriated out of the

countries and come back to the united states and that's causing a flush out. stuart: i hear you. let's have a look at the flush on out. less than two minutes into the trading session, we're down 135 already. sandra, let me see if i've got this right. i think you know more about this than i do. trouble overseas in turkey, south africa, argentina. their interest rates go up, their economy stalls and the global economy looks like it's in trouble and over here they're talking about printing less money. that's a combination that gives you 138 points down. >> stuart, every morning we're quoting the u.s. benchmark indexes like the dow jones industrial average. these are global markets and when you see weakness overseas, particularly in areas where u.s. investors were planning on that growth for future growth for huge u.s. conglomerates, that leads to a selloff. a lot of this is technical we got below 16,000 in the dow and seems like selling is

exacerbated and the s&p 500 below 1800 and seems like selling picked up. keep in mind those computers as well can trigger a lot. stuart: our job this morning is is to explain to our viewers why their 401(k) is going down because of the turkish lira. thank you. and yahoo! nicole, where did it open? >> it was down 7%, that's where t6 1/2%, 35.70 and alibaba's growth was weak and that was a disappointment the analysts said. revenue 6% overall for yahoo!. marisa mayer continues to try to make acquisitions and remain competitive, but she has stiff competition from google, facebook and twitter and the like. stuart: down it goes. all right, netflix, i think that's lower today after hitting that high yesterday. >> new high yesterday, but pulling back today so of course they've been working to expand in france and germany, but they did hit an all-time high yesterday 403.45.

down 1%. stuart: thanks, nicole. i want to get back to shah gilani and yahoo!. here is a question a lot of people are asking this morning. is the honeymoon over for ceo marisa mayer? >> i'm not sure it's over. i think the passion is gone, but i think the love is still there for her they've had a series of one night stands in terms of ceos sort after revolving door. the confidence that the public has and the rest of the management has in marisa is pretty strong. the revenue is down about 6% on the quarter and the year, but the net income is up about 40% so she's doing a pretty decent job. a lot of what's going on here, there are 24% stake in alibaba. what will be the ultimate value of that as alibaba's revenues have fallen, fallen 51% in the last quarter and 61% higher in the previous, didn't fall, they were only 51% higher. the previous quarter they were 61% higher and a year ago, 71% higher so they're slipping, the

revenue is slipping at 24%, alibaba is a jewel in the crown of yahoo!. stuart: it's the jewel in the crown and mainstay of yahoo!. what do you say about marisa mayer? >> investors aren't going to give up on her yet. the stock has doubled since she took over, nearly tripled. there's huge momentum and she said this guy didn't work out, i'm going to step in and take over the ad business. she has been very, very successful at driving traffic to yahoo! sites with the revision of yahoo! mail, et cetera, et cetera. so, there's the people are not going to be fleeing yahoo! altogether. this is just a bad day for them. she's proven herself quite a bit here. stuart: okay, it's a blip. the honeymoon is not over. got it. back to nicole, give me the biggest losers on the dow. we're down 134. biggest losers, please? >> easy to find losers. boeing is number one, down over 50 points for the dow jones industrials industrial. you can see it down 6%, one of the reasons we're watching

boeing so closely, goldman sachs and at&t in there. goldman sachs, and at&t 8 negative dow points. boeing came out with a strong quarter, but orders slowing and concerns going forward for 2014. with that, you can see that it's accounting for about a third of the losses on the dow jones industrials. stuart: good point, nicole, you've got to keep this in perspective. boeing's drop of $8 accounts for roughly 40, maybe 50 points down for the dow, which is a third of the dow's loss is one stock. that's important. thanks, nicole, good stock, keep an eye on boeing, obviously. what do you know, billionaire activist investor carl icahn agrees with us about apple shares. a billion dollars profit a week, 51 million iphones sold in 13 weeks, icahn buys another 500 million worth of the stock. wall street though taking it down just a buck right now. shah gilani, what do you say? when those numbers came out from apple we said what on earth does

wall street want? what does it take to heat the stock up? what do you say? >> that's a good question, i don't know what wall street is looking for. the company's positioned absolutely magnificently. i think the sales were within expectations. they were a little off, but i think certainly robust by anybody's standard and i think that apple is also talking about new products coming out this year, so there's a lot going on. the company did extremely well. it's got $150 billion in cash and i think that these valuation levels this company is an absolute buy, a screaming buy and has been for some time. stuart: a screaming buy. go. >> shah, they want to know what the next big product is going to be so they sold a record number of iphones, record number of ipads, but everybody sees that they're losing market share to their competitors. it doesn't matter how many they sold, they're losing market share. apple hasn't told everybody what's next, that's the concern. stuart: he says it's a screaming buy. there you have it. i've got to move on. the high margin business is under pressure, but i think they'll come up with products and again, make it a buy. stuart: dow is now down 160

points, a volatile market today. down 157. puts the dow at 15,700. let's go to that winter storm, it's brought a half dozen southern states to a stand still. a state of emergency, actually across the deep south. sandra, you're from chicago. you went to school in louisiana. >> uh-huh. stuart: what do you make of this? >> well, it's 29 degrees in new orleans, louisiana right now. so this is -- they are not used to this, they're not prepared for it. they don't have salt trucks on hand. they don't have snowplows. so, it becomes-- they come to a complete stand still when this weather happens which it rarely does. i'm looking at some of the front page newspapers there, in new orleans, street closures, bridge closures, it's a mess. baton rouge's newspaper, roads may thaw slowly as another freeze looms in baton rouge. stuart: there's people sleeping in a cvs, that's a traffic jam outside atlanta. that's what it's like. >> they don't know what to do.

>> the national guard rescuing kids in a school bus there overnight. >> it can become scary and the roads are icy and for drivers that aren't used to those conditions it can wreak havoc on southern regions. stuart: we often pooh-pooh the opinion that bad weather affects the economy. i'm saying hold on, the scale of bad weather this entire winter is to the point i think it will affect the economic growth. >> people in the south will close the doors and not leave for days. stuart: can't blame them. look at the big board down exactly 150 points on the dow industrial average. president obama's state of the union, now this is purely my opinion, i think it was a dud, a yawn. congressman fred upton on the state of the union next. (announcer) scottrade knows our clients trade

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big day today? even bigger one tomorrow. csx. how tomorrow moves.

>> let's keep this as expected. yes, the dow is down triple digits, but that's .6%, okay? think about that. that's not a huge drop with a 15,000 average. look at the price of gold. stocks down, gold up, 1265 is your price. sales down at the game maker electronic arts. the company lowers its forecast, but look at that, the stock is up 2% in an otherwise down market. go figure. watch out xbox, watch out playstation, amazon working on a stand alone game console for release this year. in a down market, let's have a look, it's down -- this is amazon down .9%. by the way, they're also moving in on barnes & noble's turf again, opening virtual book stores on college campuses.

that's amazon. last night the president delivered his state of the union address. i'm going to give you an opinion, i think it was a total dud, a yawn,remely limited for economic recovery. that's my opinion. here is congressman fred upton from capitol hill. that was a sharp, harsh opinion that i just delivered. what do you say? >> well, and still fred, stu. i've been to the state of unions, i worked for president reagan a long time ago, they're a checklist of things. check the box when you name the issue. when you have literally an hour and a half speech there's not a lot left off the table that you didn't mention, and if you didn't mention it you're going to get criticized for it. a couple of take aways that i saw. first of all, it wasn't as strident as i was expecting it to be. maybe i bought into the line that it was going to be in your face type of thing. it wasn't as strident. the things--

i'm an optimist, and that's why i'm a cubs fan, like the glass to be half full. i like what he said cutting tax rates and bringing jobs back from overseas. i like what he said not in your face, immigration reform, something we have to do in a bipartisan way and frankly, if you look at the last couple of months since the shutdown, the disaster in everybody's books, we did pass a budget with budget certainty for two years, this was 14, as well as 15. we're going to do a farm bill today that should pass on a bipartisan vote and put certainty back into the markets across the country. immigration reform is something that we have to do. as we embark on a republican-- >> and fred, may i call you fred? >> yeah, you better. stuart: so small, we've got an economy that hasn't recovered fully from the 2000 -- from the crash. we've got massive debt. what have we got from the president, a review of job training programs, a report on working families, a wage hike for minuscule number of federal

employees, a vague new pension savings plan, a brief mention of tax breaks. at the very least, fred, it was a missed opportunity. wasn't it? >> it could have gone more, but it could have been worse as well. remember, we have divided government. but it was a pretty big win when we passed the ryan-murray budget that nobody thought we'd get an agreement to last month that passed in the house 3-1. and when we locked it into place with the omnibus spending bill two weeks ago, 359 votes. so that was a big -- those two steps were mighty big and bipartisan and whereas the president could have really used a little, you know, punch it out with us last night, as a lot of us anticipated, it wasn't nearly as strident as we thought it was going to be. stuart: you're not being strident. you're offering an olive branch, saying it was bipartisan, oh, we've got a few things.

>> well, no, we've got to work together. we've got to work together. the economy is not where we want it to be. stuart: why would republicans want to work with a president who is all government all the time? >> well, remember he has three more years left. elections have consequences. we're hoping to pick up some seats and not only flip the senate this fall, but also pick up seats in the house, but if we can do some of these-- if we can get a tax reform bill and dave camp is going to work on that hard as we go to our retreat this weekend, hopefully from my perspective and yours, too, we can actually get something done on tax reform to lower these rates, bring jobs back from overseas. there's a lot of good things that we can do and we shouldn't waste this time before he's gone. stuart: okay, let's leave it on a positive, fred. tax reform is a possibility and you're going to work on it this weekend. fred, thanks very much indeed. appreciate you being with us. thank you. all right, dow is down 128,

right at 15,800. that's where we are this wednesday morning. fresh out of the box today, a college football team that wants to unionize. sandra smith was a college athlete. she's on this in a moment. ♪ [ male announcer ] e new new york is open.

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>> second big story of the day of the winter storm crippling the south. we received this. atlanta's mayor that says those interstate highways that go right through the city, not his responsibility. when is the reelection campaign start, your honor, are you going to win? boeing is the biggest drag on the dow this morning costing 50 dow points. boeing is way down, 4% loss. $6 lower, that's contributing about a third of the dow's 100 point loss and lower earnings and a weak outlook from mccormick, they make the spices. at least one of their spices is in your cupboard probably. down for the mccormick spice people. when i heard this, i did a double-take. president obama saying he'll quote, slash bureaucracy.

my take on that coming up at 10:25. northwestern university's football team wants to unionize. that would force the school and the ncaa to recognize them as employees and pay them. sandra, you're a former ncaa athlete. you know what this is all about. what's going on here? >> well, all i have to say is good luck. northwestern's already responded to this saying they believe their student athletes are not employees and collective bargaining is therefore not the appropriate method to address the conditions. they're pinning this on a popular argument that the sports needs to enhance safety. stuart: really? >> concussions are a big part of it. stuart: they want unionization on the grounds of safety? >> that's one of them. one of them. they flu a banner over the bcs national championship football game that read all players united for concussion reform, wake up ncaa. stuart: i'm sorry. >> that was the national college players association. stuart: there's a hidden agenda. >> i tell you i've read through the 11 things they're asking for. this is more about money than

anything. number two raise the scholarship amount. what they're requesting. three, prevent players being stuck paying sports related medical expenses. six, the biggest one for me. prohibit universities from using permanent injury from athletics as a reason to keep the scholarship. >> and hello, you get hurt. and they're asking for security, more money and to benefit from commercial opportunities. stuart: there you go. >> and they want sponsorships and they want to be professional athletes. stuart: the subject is they want to be professional. thank you. a stock up big featured here on "varney & company," it's a technology and medical break through and you heard it first here. plus, someone is going to jail, caught by a drone. the judge is fired up about this. he'll be here in a brand new hour of "varney & company" which starts moments from now. it's not the "sign up for rewards each quarter" card.

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cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. b2 will do a second power. stocks down today. it is all about printing money, or not. dan hettinger from the wall street journal. we bring you the french. presidential mistresses and foreigners keeping their money out. we are putting america on the couch again. those buying stuff keep you

happy? the car company trying to rebrand to the luxury class. the super bowl ad is there launching point. how bad is the weather in the south? ♪ >> four years ago, we said we would invigorate our economy by giving them greater freedom and let them keep more of what they earn. we did what we promised. a great industrial giant is reborn. stuart: that was a state of the union message. more on president obama's speech in a couple of minutes. we talked about this on the show before. the ceo being here.

the stock is rallying. they printed that they have 3d printed liver tissue. charles payne, you saw this coming. charles: it is a huge milestone. stuart: wait a second. i have to get this straight haired they have printed 3d liver tissue. now they have delivered it to someone else. charles: it is a huge deal. will it hurt the kidney? will it hurt the heart? will it hurt the liver? they went public through a reverse merger. these kinds of companies are left pretty vulnerable.

the company, so far, doing everything that they said they would do. stuart: part of the downside move for the market. a little perspective here, please. and, by the way, some of the dow lost is the result of the selloff and boeing. they heavily weighted dow stock. down 4.5%. what do you make of this boeing situation? charles: a victim of their own success. these kind of pullbacks create opportunity.

if i was holding it, i would not panic. i think wall street is overreacting. stuart: how about this? buy on the dip. >> do not they'll just yet. 60% of these indices are in correction mode. we know that these markets have been a bubble in search of a pin for a long time. strong stocks out there. if we go into a series downdraft, i strong blue-chip dividend paying stocks. they are great safe havens. stuart: look at netflix. it hit a new high yesterday. they are going to expand the european operations. they are back right now above

$400. down four dollars, but still at the $400 range. did we have amazon. working on a stand alone game console. they are down four and a half dollars. just under 390 today. can we say that the honeymoon is over for yahoo!'s chief, personal buyer. nicole: revenue dropped dramatically. about 7%. the ad revenue has moved to mobile. it is cheaper, ultimately. ali baba revenue also slipped. the stock has been a great performer over the last 52 weeks. stuart: thank you. a rare winter storm is bringing

the south to a virtual standstill. roads impassable, schools close, businesses closed. the national guard had to be brought out to rescue children on school buses that had been stranded overnight. i am somewhat embarrassed to be interviewing a football hall of fame and you will give me a weather report. >> it is awful. people left their offices at 12. schools were closed. parents could not get to the schools. students had to sleep at school. i went down to tape o'reilly at 5:00 o'clock yesterday afternoon and i got home at 12:30 a.m. it was a miracle i got home. my son-in-law had to come get me in a four-wheel vehicle.

we have these ice storms about once every three years. this is one of them. stuart: i don't know if you want to comment on the mayor of atlanta. the interstates that are all jammed a blocked right through the middle of my city, they are not my responsibility. you want to comment on that, fran? >> it is a stupid comment. i was out there on the freeways, on the side of the freeway, nothing, nobody, they have the national guard out there a little bit that it is still terrible today. the mayor has not responded. he ought to be embarrassed. stuart: thank you for a weather report. all good stuff.

we will bring you back when all the snow melts and you can talk about football or investing. thanks a lot. tom coburn has found himself in a situation a lot like other people. he has been fighting a recurrence of prostate cancer. any comment on that, charles? charles: he just announced that he is leaving. and lots of people wondered if it had anything to do with his health condition. how appropriate for a man who has spent much of his life in d.c. looking out for the average person. oddly enough, the president did not mention it last night in the state of the union address. >> this is not made up-that people are losing their plans and doctors. mackenzie says there are 70%

viewer hospitals. we will see more stories like senator tom coburn popping up. charles: the number that the president used last night -- what the heck was he talking about? stuart: he said you could keep your doctor. senator coburn is an example you cannot. delivering, resident all about delivering the state of the union address last night. i flat out called it a god. we are joined by dan henninger. a strong word. what do you say. >> well, the thing is that the obama presidency is on the brink of becoming a dud itself, stuart.

this presidency is on the bubble. on the brink of becoming a spent force. his approval ratings are in the low 40s. as we noted last week, a fox. 74% of the people think that the country is still in a recession. he needs to do something big. one would be a tax reform bill. immigration reform. all three of them require him to work with congress. this president is virtually incapable of working with congress.

stuart: think of the opportunity that the president had last night. he could have said let's embrace tax reform. >> he sort of gestured towards congress. he could have had a corporate tax cut in the first term. there is consensus that the corporate rate is way out of whack relative to the rest of the world. he does not want to give a tax cut to corporations. he does not wann to do tax reform like members of the congress does. by inclination, he is just incapable of doing the big things that would lift the country and the economy. stuart: does that mean that this president is a lame duck president for another three years?

>> if congress will not act, he will act. i think that he can cause his bureaucracy, the labor department, the department of justice, taking actions that will upset the private sector there. stuart: that is the exact opposite of what america wants. they want to get the private sector moving. >> as he has for the past five years. the reason there is anxiety in the country, the reason people do not have trust of his decision-making ability is because we have had such low growth in five years. americans are in such a state of

anxiety. it is his policies that has led to this anxiety. it is impossible for me, stuart, to see this particular president shifting in a direction that would actually help the economy much more than he has. stuart: i agree with you. dan henninger: great to see you. thhs next story is uncharted legal territory. the first u.s. citizen arrested and jailed on home soil with the help of a drone. all rise, the judge next on not. ♪ welcome back. how is everythi?

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stuart: the latest issue of rolling stone has an unlikely cover. there he is. pope francis. elizabeth macdonald, not too long ago, the rolling stone have the boston bomber on the cover.

then there was a communist manifesto. you are a catholic. go. >> i am trying to be a catholic. i would burst into flames walking by a church lately. pablo was a rolling stone came out one tweet. and power to the people. he is a funny pope. when he was made fun of with jokes, he said "may god forgive you for what you have done." he is a pope of the people. >> i do not disagree with anything he has said. what the rolling stone people ought to realize is that this pope in the core basic teachings of the church -- yesterday, he announced the opening of the

number two person of opus day. rolling stone is getting this wrong if they think that putting him on the front cover he will come to them. >> focusing on the -- he is also rooting out corruption in the church. stuart: wait a second. the left is embracing this pope because the view is the pope feels the same way about the economy and society that they do. that is the problem for me. >> the pope thinks that the left in the media will stay with him as he reinforces traditional church teaching.

>> i do not know where it would draw people in. the pope is incompetent to speak on capitalist. >> no he is not. stuart: we have overrun our time by two minutes. a farmer in north dakota sentence to three years in prison for taking part in an armed standoff after accused of stealing his neighbors house. he was caught by a drone. judge. what do you make of that?

>> the local police borrowed a drone from the department of homeland security. the job is to secure our borders. the drone flew over the farmer's property. 3600 acres. he moved to suppress the arrest because it was precipitated by the drone. he argued that the use of the drone without a warrant was a violation of his fourth amendment rights. the judge rejected that argument. if they have looked in your house with the drone, i would have granted this application.

because they looked at a field where you work, open for anybody to see, i will reach this verdict. there is very little litigation on this. i think the judge is wrong. i think many judges will agree with them. there was no emergency. this guy is in the middle of a field. it would have taken an hour to get a warrant. if they would have gotten a warrant, there would not be an issue. stuart: they did not know they needed a warrant until they tear up what the was seeing a mile high

stuart: is it not good reason for a warrant?you will be back s all over again. soon this will happen again and a judge will rule a different way. it will happen again. stuart: judge, it was a pleasure. thank you.

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stuart: well point is a big health insurer. profits down, but in mind with what the analysts were expecting. the stock goes up two dollars. it is raising its dividend. update goes. retail therapy. shopping and buying things makes you happy. dr. keith ablow on that at 10:35 a.m. companies refusing to invest. our recovering european at 10:45 a.m. i was watching the president's speech last night. i will act on my own two / bureaucracy. yes, that is exactly what he said.

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>> we can pass this your tax bill for fairness, simplicity and growth, making this economy the engine of our dreams and america the investment capital of the world. stuart: we miss him, president reagan at 1985 state of the union address, memorable. the current president is heading to costco to make his state of the union last may. rich edson and the white house. is this all about raising the

minimum wage? rich: it is. he is speaking about it right now and democrats love this issue. republicans are in a box, they think, on this one because the public perception all pull for folks wanting to raise the minimum wage, they feel they have republicans in the corner and they will continue to talk about this, extended unemployment benefits and will be a campaign issue in 2014 in november. stuart: as i recall the co-founder of costco is a gentleman called jim senegal and he is an outspoken supporter of president obama. has that got something to do with the president's visit costco today? >> the president often find consultant businesses by his supporters, a number of different councils named after different business initiatives, a number of those folks are his supporters so i think it all ties nicely together for the white house this morning. stuart: rich edson, looks like it is freezing down there. good stuff. this would be a ho-hum sell-off

without a big drag from boeing which gave a disappointing forecast, a big move, the stock is down, 5%, that takes roughly 50 points out of the dow industrials. move on to yahoo! disappointing numbers they're too, a tough quarter for marissa meyer. that stock is down 7%, another of today's big movers. shopping can make you happier. buying things can make you happier, really? a study in the journal of consumer psychology says shoppers who buy items by anthem three times less sad than those who just browse and don't buy. i vigorously disagree. doctor keith ablow is here possibly to set me straight. when i buy something i really don't enjoy it or like it that much. you can call me cheap, but i get no enjoyment out of consumption.

i get enjoyment out of saving, thrift, piling it up so that i have investment capital. that is where i get my july. . am i so wrong? >> it is good you know yourself. for some segments of the population being action oriented and acquiring things makes them feel as if they have done something and they are effective. that may be bad news in a certain way, good news for the economy, short-term gain if you are feeling low and do retail therapy, but i am here to tell you as a psychiatrist retail therapy won't work any better than three cups of coffee because you got to get to the bottom of what is troubling you and not because you don't have crocodile loafers. though they're very nice.

stuart: not crocodile loafers. when i was younger, no money, i used to love going into shopping malls and looking end if i did buy something i kind of enjoyed it because i had done it, i got it. now i have a bit more money. and i don't enjoy it. i don't enjoy consumption now than i am able to consume. put me on the couch and explain myself to myself. >> i think you may just be healthier than the average bear because a lot of people say i am very busy and very happy, we got the full weight out and i ordered that from arizona, being shipped by truck, okay, but this is not necessarily the war and we've of one's soul. you can distract yourself with building an addition when your marriage is -- you have a kid or build another room. you feel as though your marriage is healthy because you have a new dan.

it is not and the new watch won't change you but it can distract you and that is my fear. isn't necessarily good news. if you did a study and said how did people feel after a drink? are they less depressed? a lot of people are but what we advise that as an anti-depressant regimen? we wouldn't. stuart: a personal question. >> finally. i have been trying to get you on the couch all this time. stuart: i will ask you a personal question. >> is the segment over? stuart: you are a wealthy guy. >> in terms of the love of my children and wife, yes. stuart: very good, good come back. do you enjoy consuming, buying something? >> i think that i am of both minds. i enjoy it and i feel little bit of buyer's remorse often by the way. if i can't rationalize the value of it as not spending money, if

i buy a house it is an investment, it has got to go up in value. i feel good about that. aside by issues that are expensive by amortize the number. i feel so bad, i wear the my hundred times that is $3 per wearing, that is okay. very worried about spending too much money. stuart: i buy something and think how much that thing just depreciated, bothers me enormously. >> you are worth it. as a friend you are worth it. look at charles with the watches. he loves himself, people love him. that guy should have -- stuart: what is -- charles: this is frank miller. stuart: how much? charles: over 10 grand. stuart: when you paid $10,000 for a watch? >> i am here to tell charles he could sell that to me right now

for four. charles: probably $4,500 on ebay. >> it is your watch people are paying the 11. stuart: you are a good man. thanks for joining us. margaret thatcher said it best. the problem with socialism is that sooner or later you run out of other people's money. now france is finding that out the hard way. investment plunging, money going into france pledging. varney's other recovering european after this. >> count the money! count the money! [ male announcer ] e new new york is open.

open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state.

move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free siness at startup-ny.com. stuart: a charles payne cake, 3d printed liver tissue and successfully delivered it to someone else. that has never happened before. stock is up 15%. netflix hit a new high, yesterday, lotus today, expanded france and germany, stock above $400 a share. amazon working on a stand-alone game consoles. watch out x box and place station and opening virtual

bookstores on college campuses, amazon down $5, sales down, and game maker electronic parts and lowered its forecast but look at the stock of 1%, $0.26. our favorite recovering european is here with us in new york city in the studio talking about the french president.

stuart: straight to nicole, apple's stock dropped below $500 a couple minutes ago.

where is it now? nicole: where do i start? right now it broke the $500 mark, not good news. you have the latest numbers, 51 million iphones old, 7% gain over years, but people very worried, this week it is down 8.5%. it is only wednesday. stuart: a huge drop for stocks. nicole: kevin na hard week. stuart: charles will make us some money with harman international. charles: an array of speakers, entertainment for the automobile and also home but that is where the big player is now. we talk about the car eventually being one giant set of speakers and computer chips. the only outlet is a report tomorrow, earnings always dicey but i love this company, the direction never earnings estimates, something i have liked for long time and i think it will go well north of $100 a

share. stuart: depends on what they come out with. charles: earnings season the most dangerous time of year but this is a stock i like in a down market. stuart: it is at down market, not that bad. we are down 105 points as we speak but remember that is 0.6% down 100 but it is 0.6%. france's president francois hollande's personal troubles not enough. united nations says foreign investment, money flowing into france, down 77%. here is, we keep saying it, our favorite recovering european, now resident in the united states of america, welcome back. >> thank you for having me. stuart: that is a huge drop in the amount of money flowing into france, down 77%. >> particularly big when you consider that investors are always slow to give up on a big

economic power and no matter how in trouble france is it is a wealthy nation. would you want to invest? charles: absolutely not. look at goodyear tire. like the old movie, the mob scene, once you get in you can't get out and there's no freedom. >> the rhetoric from the president has been all along extremely anti capitalist, extremely anti capital. jack up taxes on capital immensely. and taking measures that taxes for foreigners investing in the u.s. would be much higher, they would have to pay social taxes for benefits they would never turn. stuart: didn't president francois hollande just make a big presentation where he said we are going to cut business and tax breaks. said that. >> with what he is asking in return.

he is asking that they be more employment for people who probably have been unemployed. basically saying you will get tax breaks but you have to hire people you may not necessarily want, the labor taxes are so high it is not worth it. stuart: when you are free to do this if you do this. >> don't know if it is the reciprocity thing but we have seen the job bills in the u.s. all these tax rates. charles: that is what a president talked about too. >> not enough for an entrepreneur or not sure about what his future is or the future of his company to hire one more person considering we are heading in the u.s. the cost of labor. you can say things like this. stuart: you really are a recovering european. i got to ask you about francois hollande and the three ladies that have been in his life. i understand he has picked the

actress, the newcomer and out goes the acting first lady. have the french started to feel that maybe this kind of dallying is not appropriate? >> i do think there is some of this going on. a lot of people were immune and french people dislike the sitting french first lady. stuart: they hate her. >> they really dislike her. she was extremely aggressive, in-your-face, there is no real role for first lady in france and she is a gigantic staff of 17 and was in your face pushing for the censorship of a journalist, supporting in the name of the president of political opponents. stuart: we had a report we put

on this program that when she found out president francois hollande had another lady she went around with a baseball bat and smacked $3 million worth of stuff. >> i read these reports and and not surprised. she is aggressive. she also went at the expense of french taxpayers to -- he is in with her entire staff in india paid by french taxpayers. stuart: a staff of 17. and is the former acting first lady. charles: the europeans sort of this guy is a player kind of thing, the poll numbers going straight up and i know for a long time it has been accepted you have a wife and mistress, it is a european kind of thing. >> in this case she wasn't a wife. he wasn't married to. charles: she thought she was.

>> we realize that makes a difference. even in the mind of french people. you better be married to the woman you go out in public with. stuart: you are welcome on this program anytime you like and charles payne, stop trying that. thank you very much. next up, kia's new super bowl ad using star power to push diaz a luxury carmaker. woodwork? more on this next. for over a decade

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stuart: companies spend big money on superbowl and is. thirty-second go for $4.5 million. kia motors spoofing the matrix in there and at the super bowl trying to read brand themselves as a luxury car. look at this. >> this is what luxury looks like and this is what it sounds like. ♪

stuart: i would kill for a voice like that. michael sprague is kia's vice president of marketing. we are read branding kia. >> the all new kia, first luxury sedan for the u.s. market. we had great product and want to showcase this vehicle and use it as a flag ship. rising tide to raise all boats and we have great products. stuart: that was laurence fishburne, the matrix guy. why did you choose him to be your luxury guy, 3 brand as luxury? >> laurence fishburne's role is iconic. there was nobody else who could

fill that role. if you remember from the movie he challenged the on reeves about what is reality and what is perception. we are doing the same thing. we are challenging consumers to think about kia differently. stuart: the car we saw in the ad, nice sleek model what model is that? >> the k 900. stuart: you have other models. are you read branding them and trying to upgrade to luxury status? >> it is going to showcase to consumers, great quality, great value. stuart: answer this one. is it worth $4 million for thirty-second? we have 60 seconds spot. >> an opportunity to connect with 110 million baht -- it has been in the united states 20 years, we're fine to raise awareness for the brand.

stuart: when you are not -- >> i will be in the comforts of my home in southern california. stuart: executive vice president of marketing kia, thanks for joining us and good luck with a great at. your take is next. welcome back. how is everything?

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what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. stuart: it was just a couple minutes ago, charles payne revealed he had spent over $10,000 on his watch. here is what you said you would buy with all that money. down payment on a different president, a gold pen for obama so he can write an executive order to get rid of obamacare. one viewer said good for you, charles, you earned it. i would invest in silver. any comment? charles: i will break even on it if i wear it long enough. my buyer's remorse is starting

to fade little bit. stuart: it is bling and you know it and you are out of time. connell: i love when you say bling. good for charles. the president says checks are not enough for retirees so he is rolling out something called my are a. we will talk about what it means and is this the answer that we need? the wicked weather swings into an and prepared south, people sleeping in their cars, in buses for local government that does not have the equipment to deal with a situation like that and cyberspeed, the u.s. ranks far behind the far east when it comes to how fast the internet works. tomorrow's business today using your heart be to manage the security of your house card computer. that is all coming up on markets now. ♪ dagen: good morning. connell: this is me