markets but everyone else is in awe. i am lori rothman. adam: i am adam shapiro. the dow down biggest turkish central bank's rate hike failed to calm nervous investors. lori: the focus turns to the federal reserve. we're one hour until the decision which will be chairman ben bernanke's last. will be full taper ahead for ben bernanke and company? adam: frozen in time, atlanta paralyzed after a winter storm dumped a few inches of snow. commuters are stuck in talks after waiting in traffic for hours. students spent the night at school. it is just an absolute mess. lori: atlanta hawks steve homan joins us with how it played out in the city at tonight's nba game against the detroit pistons. so much for the relief rally did started the day on wall street. let's head to the stock exchange and check in with nicole petallides but the emerging market fading fast. nicole: emerging markets

problem, also technical levels, the dow jones industrials down 137 points, the lowest down 174 points. we are of of the lows of the day but seeing the down arrows and i will get to why dow is down. you can thank belling for that but there are concerns about earnings going for. many companies reporting despite concerns about 2014, tepid outlook for these companies made everybody worry. we want to see what the open market committee said to policymakers and the vix to the upside. let's get back to boeing. the worst performer on the dow jones industrials 6%, it is accounting for 52 negative dow points. the dow, 1-third of the dow's loss is boeing. when you take a look at the s&p 500 that may be a better theme of 1/2%. boeing came out with a weak

outlook for 2014. >> the move to hike interest rates and save lives, the nation's currency scaring investors causing emerging markets to push european stocks lower. the real question is why is such a small economy having such a big global impact. we want to turn to global macro economic strategies for capital markets, joins us from miami. good to have you here. the common denominator is an investor like myself tries to understand the foreign-currency sand the trades that take place, easy money. the threat the federal reserve will clamp down on easy money has people looking at the potential to invest in turkey, not the place they want to be. >> it is easy, the common denominator as stated is fierce selling, panic selling, in

discriminant selling emerging-market and that is because investors, retail investors saying capital flowed like crazy in the easy money period and they are going back because the u.s. said in expanding monetary policy unwinding so they expect to see a continued and perhaps increased outflow of equity positions, bond positions and foreign-exchange positions from emerging markets but specifically from those emerging markets that are the weakest turkey has accused deficit, fiscal deficits, inflation problem, growth problem, political upheaval, so -- adam: according to the institute of international finance in 2010 and trillion dollars into emerging markets, ten years prior to that only $190 billion of that gives an idea what is flowing in. that is not all flowing out but

the term is the fragile five, not just turkey but brazil, argentina, india. is this comparable to the 1997 asian currency crisis that we saw? >> it is not. apple to oranges, asset class is better positioned than it was in the past. important for retail investors to discriminate the stronger name versus the weaker name. look at the fragile thought that you mentioned, brazil versus turkey, brazil has two thirds of its deficit, it has won the two thirds is covered by investment. turkey on the other hand has coverage in the tunes. really there are important differences to be made and i will say panic creates eventual opportunities. retail investors could look at the emerging market names, pick out the winners, the market friendly, more capitalist pro investment guys like mexico,

colombia, south korea, in times of distress, indiscriminate selling. adam: as we see these fragile five places like south africa and turkey raising interest rates the lira fell in turkey to where it had been. the danger for those countries you explained to me earlier is a double-edged sword. if they raise the interest rate they are essentials lead defeating their and economic growth. >> that is right. we discussed earlier when you jack up interest rates, 425 points it helps the attractiveness of currency to appreciate sword is likely stunned at least somewhat economic growth, that is the problem turkey and other countries such as brazil and south africa are facing at this point. this is not 1997. they have higher reserve rates, better overall debt levels, better composition of the debt

and exchange rates are fixed which many of them have at that time so they are better able to withstand these affects into chaos. adam: thank you very much. cheryl: the turmoil is unlikely to deter the fed from trimming its bond buying. ben bernanke wraps up his last meeting at the helm of the central bank, peter barnes from the federal reserve. less than an hour to go before the decision. peter: the consensus seems to be the fed is on cruise control at the meeting today, economists expect a smooth policy handoff between departing fed chairman ben bernanke and his successor janet yellen to take over february 1st, at the end of this two day policy meeting this afternoon and hour from now the fed is expected to announce it will reduce its monthly quantitative easing bond purchases by another $10 billion

taking them down to $65 billion a month. the fed said it would start to take credit last policy meeting in september so some analysts say the fed's free ride with easy money is over so investors have to focus once again on market and company fundamentals. >> don't expect that every part of the market is going to go up and that the fed will come to the rescue of the market. maybe the fed does, it is the worst thing the fed could do to come to the rescue of the market. the fed is not a portfolio manager. is supposed to be taking care of monetary policy. peter: the new deal is part of ending quantities in the fed promised to keep short-term interest rate and the fed funds rate at neared zero for longer and that means lower interest rates on auto loans, business loans and credit cards for longer. lori: thank you, be sure to tune in friday at one p.m. because peter is sitting down

exclusively with san francisco fed president john williams. one day before the fed president janet yellen takes the range from ben bernanke. adam: we are looking at commodities the head of the fed, amid the broader stock sell-off, investors taking safety and gold, that precious metal is jumping 1% point two straight days of declines and looking at the energy commodities oil prices aging lower, supplies rose more than expected last week but the big movers are natural gas and heating oil, freezing temperatures driving up demand. lori: another investigation in the debris to against target, eric holder confirmed the justice department is looking into the target hack. eric holder making the announcement during testimony before the senate judiciary committee and lawmakers want details. democrats and house energy and commerce committee asking for information from the retailer ceo at of the hearing next week.

adam: on. shares plunging making it one of the worst performers on the s&p 500. for quarter profit beat estimates, revenue slumped from last year. the news is raising new concerns about ceo marissa meyer's turnaround plans for the company after more than a year she has been unable to make progress against rivals google or facebook. ali baba which has been a bright spot is seeing its growth slow. self parked cars in traffic for hours abandoned on the side of the road. the latest on the chaotic scene out of atlanta next. lori: struggling with 16% unemployment. millennial is's reaction to president obama's state of the union address. adam: after blowing off pressure from fox business, the analyst has left the firm. charlie gasparino has the exclusive scoop elvis has left the building. en does your work en

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so, when diet a exercise aren't engh to lower cholterol, adding crestor can help. go, crestor! ♪ ♪ oh, yeah [ female announcer ] crestor is not right for everyone, like peoplwith liver disease women who are nursing, pregnt, or may become pregnant. tell your doctor about other medicines you'rtang. call your doctor rht away if you have muscle pain or weakness, fl unusually tired, have loss of appetite, uer belly pain, dark ure, or yellowing of skin eyes. these could be sig of rare but seris side effects. crestor! yes! [ female announcer ] ask your doctor about crestor. if you can't afford your medication, astrazeneca y be able toelp. lori: in the mid level weather emergency, snow and ice paralyzed state transportation services. debt and's may read assured city folks that the problem is being addressed. take a listen.

>> standing in front of you taking every question you have so that people at home know that their government is actively trying to solve a very bad problem. lori: now we are pleased to be joined by steve holman on how is being played out in the city. steve is the play-by-play for the atlanta hawks basketball team. the radio network that covers the games that we are learning that tonight's basketball game is being postponed because of the weather. great to have you. >> doesn't happen very often that they have to postpone a game. lori: the imposing team could not get the flight into atlanta. >> it was partly that. they couldn't get in last night but a lot of it is the nba and the hawks concerned about season-ticket members. and how many people get their

tonight. and not sure our players who live in different places all over atlanta can get to the game either. lori: we are looking at pictures of a traffic jam and kids in school and folks in target stores and grocery stores, two inches of snow and ice, and commute to work and school what is the problem? what went wrong over night? >> a lot was the preparation part of it. that happened to schools i canceled, and metro atlanta area, and in the city of atlanta debt, they were not expecting the snow the way it came and the ice and they had school, and almost 5 million people on the streets all at once. adam: curious, you have ties to the business community, the

nation's largest busiest airport, delta, al flack, ubs in the atlanta area. i.t. able to operate today, thousands of those employees are stuck at home? >> most the skeleton crews, home depot based here. and to sleep or eat there and take shelter. so many cars have been abandoned over the last 24, 48 hours. lori: thanks for sharing your own experience, good luck and be safe. >> it is crazy. thanks. adam: people in atlanta at not only deal with these things but there's a great deal of business in atlanta. taking the biggest hit georgia national guard helping people, w a g a atlanta reporter buck cranford is covering the chaos. any chance when you will get out of this? >> good question. the temperatures now, the high

today is expected to be 33 degrees so really just one degree above freezing. we have some sunshine today which is helping some of this stuff to melt but really the temperatures drop again once again overnight and a lot will refreeze so despite the fact that the national guard is out there now they are getting the kids that were stranded at school getting these kids home, bringing food and water and gas to people in some of these cars that have run out of gas because they were sitting in gridlock for so long but despite all that i am sure the story will continue to be told tomorrow as everything freezes once again. adam: we have seen the pictures of incredible traffic jams, georgia 400 is the normal state of affairs but all kidding aside when ms. refreeze is our drivers, 5 million people in the atlanta metro area are they prepared? bridges freeze, you get ice and can't drive on ice and you get this all over again. >> only somewhat prepared. the city of atlanta is somewhat prepared. it doesn't happen that often.

our last big snowstorm was in 2011. we are not equipped in a city with the right amount of trucks and stand and salt trucks that you need and the fact the this one happened in the middle of the day when everyone was at school and at work and everyone tried to depart at the same time that cause gridlock which meant trucks we do have couldn't get on the road to spread the salt and sand and improve conditions at least on the bridges. the good news is if they can get some of these cars out of here maybe tonight they will have the opportunity to get the salt and sand trucks to try to do their job to improve things. the good news, atlanta is freezing today and will be freezing tomorrow, mid 60s by the weekend. ten debt to saturday everything will be fined. adam: we will call you hot atlanta saturday. lori: back to the markets, big story because we're back into sell-off mode, a risk of profiles back in action. nicole petallides on the floor of the stock exchange covering the action. a few winners out there.

nicole: a lot of red and new lows, worried what will happen with the fed and the emerging markets. the winner is dow chemical hands down. 4.5% to the upside up $1.93, dow chemical came out with a great quarter. also unveiled a 15% dividend hike. everybody loves fat. how about the stock repurchase plan moving up to $4.5 billion. that made a nice recipe for dow chemical and continue to follow the story that spins off the cat -- petrochemical business so that could be over $3 billion according to analysts. a story that isn't over yet. lori: thanks, see you soon. we want to remind you in 40 minutes we will hear from the federal reserve. the latest decision, expectation of another taper which the market is banking on. fox business will bring the decision live. adam: giving people what they

really want. we are live in times square as broadway turns into super bowl boulevard ahead of sunday's big game. i ys say be thman with the plan

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>> 22 minutes past the hour, this is your fox news minute.

defense secretary check cable holding a meeting with top nuclear official after dozens more officers were implicated in an investigation on cheating on missile launch proficiency tests. the number has nearly doubled from the original 34 officers. german chancellor angela merkel has said countries that spy on their allies risk undermining trusts leading to less security. the u.s. national security agency's surveillance activities have rattled germany since they were revealed by former nsa analyst ed snowden last year. oracle also says she will renegotiate with washington over a nose by agreement. a miraculous story from here at home, a 16-year-old girl surviving after falling more than 3,000 feet to the ground i family of mackenzie weatherington setter primary parrot didn't open and miraculously doctors say she has

multiple injuries but is in good condition, just incredible. those are your latest news headlines on the fox business network. back to lori and adam. adam: an incredible story. the nfl's annual super bowl fantast kicks off today as superbowl boulevard opens in times square, fans can meet players, play games, even ride and h lane, 60 foot tall toboggan. rick leventhal is live from super bowl boulevard to explain why new yorkers will break a cardinal rule and go to times square. >> the new york post put it best, the great white way has seen this much action since joe namath was quarterback of the new york jets the times square has been transformed into super bowl boulevard all right away from 47th street to 34th street, to take part in including goalpost, you can see behind me where you can kick extra points and as you mentioned, a really

cool toboggan ride, eight lane, 60 feet tall, 180 feet long, and you need to go online to buy your tickets but it goes to charity and is a pretty cool ride. we tried it out last hour. take a look. >> an outdoor football festival on the most famous city in the most famous block in the world and taking a fan festival in an area that is free for fans to walk through and shutdown times square, i don't think shutting down one block is easy more or less 13 blocks. >> that was an nfl person talking about the challenges of shutting down times square. we have video of the toboggan run. if we do, let's see it. lori: there we go. i think we just caught the tail end love it. >> reliving your childhood.

i would like to point out i won that heat. this is an olympic trial i would be moving on to the next round. lou: you in the jamaican cape. >> i'm ready to compete. adam: appreciate you being with us on a bitter cold day, lot of fun in times square. coming up tomorrow our all-star super bowl lineup takes us through the 1:00 p.m. hour. we kick it off with joe ellis in a can't miss interview plus nfl all star tony gonzalez stops by to talk life after football. these are the stars of the game, cletus the fox sports robot will be here on fox business. pretty cool. lori: it is freezing but i can't complain looking at what is going on in atlanta. i always find something to confess about. fashion haters. facebook. adam: set to report fourth quarter results "after the

bell". 18 to 24-year-olds are so addicted to their phones and they checked and every nine minutes and 50 seconds. lori: that is serious addiction. speaking of millennials, what did they think of president obama's state of the union address and the state of opportunity in this economy? adam: look at winners and losers on the dow, the dow down 136 points. we asked people question, 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,

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specifically at facebook which is trading lower ahead of earnings. is this a broader problem market problem or facebook specific, do you think. >> what i think, we'll see for sure after the bell when they come out with real deal numbers on revenue, on advertising, on instagram. these are things that everybody is going to be looking closely at pertaining to facebook. right now it is down 1.8%. over the last 52 weeks we've seen it is a stellar performer up 80%. annual high on the stock is $59 and change. we'll look to see how many mobile active users in the latest quarter. also looking at instagram, who was involved. michael kors is already getting in on that. four p.m., stay with fox business. we'll bring you facebook numbers. we'll have qualcomm numbers "after the bell" here. it is earnings season. i know we have a lot going on from the fed to emerging markets and markets are to the downside but earnings are very important. back to you. lori: always are, nicole. thank you. adam: we heard a lot of talk

from president obama about job creation last night empowering the middle class, a push for higher wages, better savings for retirement and equal pay for men and women. critics say the president's ideas were lofty and without much detail. finances are a major focus. foxbusiness.com reporter kate rogers joins us with more. kate, when the president is talking about "myra." this would be seed investment to get keep people to stop saving for retirement with a federal government guaranty. what is he talking about? >> this "myra", is pun on words, is supposed to be starter account for those that don't have 401(k) program through the employer. your contributions could be very low as little as $25. once you hit the 15,000-dollar cap you have to roll it into traditional roth eye raw account. adam: did they give specifics

how it will be guaranteed. >> backed by the government just likes bonds. basically once you hit the cap, it will grow at variable interest rate and once you hit the cap you roll it over. no details how it is backed. he is response supposed to announce it. adam: the president made a promise you wouldn't lose any money, correct. >> correct. adam: seems if the government is going to back it, you will something with inflation. also promised they wouldn't lose your doctor with another piece of legislation. but anyway, are the critics jumping on this yet or too few specifics to understand what they're really proposing? >> definitely scant on details. the president said it will ebb issued via executive order to the treasury department. once it is officially launched. we got some details today once it is out there for people to start signing up. adam: "myra." need to come up with a new name. throwing a lot of people. >> even the president stumbled trying to say it last night. adam: lori. lori: i had trouble in the meeting.

guilty. thanks, guys. the president may have hit a lot of hot topics last night but my next guest says so far few of the administration's policies are giving young adults opportunities. we have the author of book "2012 for 20 somethings." millennial, perfect advocate for young adults. welcome to you. >> thank you for having me. lori: there are specifics for so-called millenials. lay it out for me. >> we can start with obamacare. lori: subsidizing the entire legislation. >> yes, i was doing some research last night on nerd wall's analysis and if a young adult enrolls in obamacare exchanges his out-of-pocket health care costs is going to be around $1700. if you forego that and pay penalty, our out-of-pocket health care costs is $340. which do you think they will choose? lori: right. the bottom line with obamacare, they need you, young, healthy americans, 2.7 million of you, right, to sign up for this. so how do you feel about that and your colleagues and your

pierce? you must be resentful and reading because you've written extensively on criticism of the legislation. >> my pierce are not having it. i'm not having it. we're bay paying for our parents insurance while still living in the basement that sun fair. lori: young adult unemployment more than doubles the national average. you guys are strapped with student loan debt has a lot of economies say this could be another bubble about to burst. the president as we said in the introduction to you outlined all kinds of hot topics and plans for new opportunity and growth and innovation in the state of the union last night. are you optimistic about any of it? >> i'm not optimistic at all. they're the same old campaign promises recycled. i went back and looked what he promised in 2008. in 2008 he made 508 total campaign promises. that is double what bush and clinton made.

it is empty promises. he hasn't acted on any of them. young adults are not hopeful. we voted for him because he would go to washington and change and have transparency. we haven't got any of those. lori: you send me all the latest and greatest opinion pieces and writings and stuff like that. it is tough out there. what advice do you have for younger people trying to make the way in this world? >> it is tough. youth misery index is highest ever been but when i'm talking to my peers out there and we don't have confidence. advice, you have to keep going out there to do your best, even if it is part time. that is all you will find right now. lori: young people came out in droves for president obama in both elections. do you think that will shift? do you think more millenials such as yourself will lean right and vote gop in the next presidential election. >> that is a good question. i don't know if they will make a complete switch. like way saying earlier my generation was shaped by republican failures.

that is why we turn out heavily for democrats in the election. now we're being shaped by democratic failure. whether that will shift in 14 or 16. i don't think they will show up which will hurt democrats as much. lori: you were brought up in the dot-com universe, '99, 2000. you have the financial crisis of 2008. that really influenced and shifted focus on how you manage money. i let you pick it up there how for a last comment. >> we don't want to buy all in cash. we don't want to see what happens to our parents happened to us. losing job and financial crisis, losing a house. we'll not be investing or buying right now. lori: thanks so much. good luck to you. >> thank you. lori: look forward to following your story. adam: the analyst behind bill ackman's one billion come dollar short bet on herbalife missing in action. charlie gasparino is getting answers. his exclusive scoop next. lori: the treasury yield, ahead

of the fomc statement, the treasury yield at lowest level in months, 2.71%. back in a moment. welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. 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. [ car alarm chirps ] ♪ [ male announcer ] we don't just certify our pre-owned vehicles we inspect, analyze, and rendition each one,

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the fcc says scottrade will pay $2.5 million fine. the discount brokers admits filing blue sheet data trading on 200 trades five-year period. scottrade blames a coding error. "new york post" report that is jcpenney quietly jacking up prices from clothing to small appliances to make room for deeper discounts on the same stuff later this year. the retailer is trying to get back customers who want to see 50% and 60% discounts. no comments from jcpenney. spain's finance ministry says the country's black market is 25% total gdp. under the tax under the table transactions is 34 billion in 2012. spain starts with a two year recession and 25% unemployment rate. that is the latest from fox business, giving you the power to prosper.

adam: after blowing off pressure

from fox business, pershing square finally concedes a key a. charlie gas with more on the story he broke and more exclusive details. >> we should point out the herbalife short announce ad year ago by bill ackman, head of pershing square came from research that bill ackman developed and he had a right-hand man, shane dinneen, harvard-educated analyst. that is bill ackman. see if we have a picture of mr. dinneen. this guy is rumored to be on the outs at pershing square ever since the stock started to move up. as you know they had a short position. initially went down. shares of herbalife on announcement after short. when other activist investors got involved on the long side, namely carl icahn and a few others the stock moved rapidly up. then there was rumors that shane dinneen was out. we should point out for four days we heard he was officially out the door. herbalife, excuse me, shane

dinneen's, pershing square would neither confirm or deny or return our calls. the most troubling aspect of this is that rubenstein and company, run by howard rubenstein, one of the great pr people of all time, someone i know very well, when i reached out, when we reached out to his people they stonewalled us. one basically hung up on julie, my producer. but late last might, after lots of calls and lots of social media and doing stuff on fox business they finally conceded that mr. dinneen is out. they didn't really give much detail. they said, you know, it was a personal decision on his part. basically said he could come back at anytime. they did not blame him for the disasterous call. adam: why would leave now? this is still in play. >> well the only thing i can think of is, there are several reasons. he may leave now because he wants to, you know, travel the world, you know. he may have a, might be a personal issue why he left. adam: could it be asked to leave? >> you know that's interesting. noo if you notice the stock has

been going down recently with all the talk about probes in china and canada and all the places. it is down a little bit today. there also could be a money reason why he left. herbalife got, his position, short position got crushed since they announced it. adam: right. >> he is at the bottom. he is one of the lead analysts here. and you know, i don't know who, chicken, i don't know what came first the chicken or the egg. was it shane dinneen told bill ackman about this or bill ackman told shane dinneen to look at it but there is lots of talk whether he, whether he was asked to leave because he has, fascinating thing, if you talk to people in private equity and hedge fund, i don't know how this guy is going to make his money. adam: that is what i was going to ask you. what does it do to reputation of a young analyst. he might have been right but he is up against carl icahn. >> he might be right in 20 years or five years or three years when the position is now. adam: right. >> and that's a tough thing to

swallow. we should also point out that as you mow, bill ackman has said he has covered a lost his short. he translated into essentially an options play as opposed to a short, pure short position where you borrow shares and sell it and you have to, you know -- adam: deliver. >> you deliver at some point. later where you cover it. he translated that out because the stock moved, you know, violently against him, moved up. even though it has been going, trending down a little bit lately. this is fascinating. it is interesting this came literally the same day we reported this out he was likely on the way out. the same day that the d.a. -- analyst tim roehmmy went to bill stiritz's private equity firm. ramey was a bull on the stock. stiritz is going out saying he would like to buy the company. both of these things came together. for a company that sells protein shakes lots of stuff happens with herbalife. adam: on that we'll say thank

you, to this young analyst there is life after harvard. perhaps you should have gone to yale. >> you're talking your book. adam: i'm syracuse. >> i'm missouri. just so you know. lori: just about 15 minutes here. we are counting down to the fed decision at 2:00 p.m. eastern. markets are way off ahead of that. adam: first perspective from the trading floors ahead of the announcement and chairman ben bernanke's news conference. ? 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 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.

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adam: just minutes away from the fomc decision. fox business will bring you the announcement as it takes place. first we want to get a look where markets stand. major averages still deep in the

red, still reeling from nervousness over emerging markets. oil prices pulling back. that is off the lows of tte session. meantime investors are looking to the safety of gold with prices up more than 1% today. lori: let's go to the trading floor. keith bliss joins us from the new york stock exchange and phil flynn in the pits of the cme. we could be entering, keith bliss, pullback mode for markets if you believe pullback definition is five or 10% off recent highs. we're 43 points shy of that levels according to fox business statistician, charlie brady to be exact. what is your take on why we're so down ahead of the fed decision? >> i don't think it has a lot to do with the fed decision right now. as adam was pointing out in the lead-in everybody is nervous about emerging markets. emerging market problems could lead into what the fed says today to the standpoint if merge merge economies go south with money pull out of their

economies and how will that play how u.s. companies and economies get impacted from that point forward. that is really only way i see the play coming out right there. i think the market, sorry, i think the markets are terribly overdone even though we keep going down. we found them 1800 s&p. we're due for a bounce in the year and hopefully a sustainable one if we get back up the 1100 level. adam: let's bring phil into the discussion. i would think some flight into gold with people worried about turkey and south after cam the currencies there have not recovered even though we had the central banks raising interest rates. a lot has to do with easy money tightening. fomc is expected to announce more tapering which means more problems for turkey and south africa with their currencies, right, phil. >> absolutely. fed mantra, tapering isn't tightening. tell that to people in the emerging markets. it is killing them. we're starting to see what turkey did yesterday lift the

mask off with the problem with all the fed policy. we outgrew it over here. our stock market loved it but it really masked problems in the emerging markets. we're not just talking turkey, we're talking china, we're talking brazil. you could go on and on. that is what is happening here. with the goldmarkket what should have been a ho-hum, we know the fed is going to taper decision, we're seeing risk-on. we're seeing gold rally. we're seeing. silver rally. industrial metals perform less well. there is concern this would be a issue that goes on. the other thing is the physical market. lori: phil. >> yes, lori. lori: i appreciate you letting me interrupt you. do you think ben bernanke and company will consider all the noise and volatility in the decision today? perhaps if they were planning additional taper it won't happen after all because of this violent reaction in trading days including today some would argue?

>> some traders down here say that they will. i really don't think them. they have thrown too many curves when it comes to the tapering thing. they have sold the market on tapering. they don't want to kang that at this point. i don't think the market action overseas is bad enough yet. but if it continues to get worse, looks like contagion, you better watch out next fed meeting. adam: keith and phil. we appreciate you both bringing us insight as we await the fomc decision. moments away from the latest fed decision. we want to hear from you. fill in the blank on our twitter question. janet yellen's fed will be blank. fill it in. lori: so full coverage of the fed, markets, reactions, and your tweets all brought to you next by tracy byrnes and ashley webster. [ male announcer ] here's a question for you:

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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. (voseeker of the sublime.ro. you can separate runway diculousness... from fashionhat flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national isanked highest in car rental customer satisfaction by j.d. power. (natalie) ooooh, i like your yle. (vo) so do we, busess pro. so do we. go national. go like pro. tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. it is ben bernanke's last

meeting as fed chairman. stocks are already down big-time. we're moments away from the fomc's latest decision and pronouncements. we want to hear from you. fill in the bank on our twitter question. remember the old blankety-blank game. janet yellen's fed will be what, blank. tracy: make them clean. full coverage of the fed starts now. peter barnes standing by at the fed with first word in seconds of course. we have an all-star panel here. scott brown, raymond james chief economist in st. petersburg, florida. bob pavlick, chief market strategist and our very own lizzie macdonald and charles payne here on set, fox business headquarters in new york. very cold. bob, we start with you first. i know you believe they will announce further reductions in easing, yes? >> yes. i think everybody is pretty much under the same belief. tracy: same number, 10 billion? >> 10 billion, fiie and five. the economy is picking up here in the united states. if you read the most recent

beige book from january 5th tenet, the fed believes the economy is improving gradually. i agree with the fed. what is going on in the emerging markets is something to be aware of and they may make reference to that in the statement today but i don't believe that will dissuade them from removing quantitative easing. ashley: charles i want to ask you quickly about emerging markets. is this something if it continues to evolve that could ultimately hurt the global economy and could have impact here in the united states? >> it could but if you look at more recent currency crisis they were resolved with foreign intervention, imf-type things. i don't know the fed will necessarily say we have to be concerned about that but i do disagree a little bit that everyone thinks that the fed will stay the course and go down another 10 billion. everyone says it. i don't, the way i watch the market it doesn't seem like everyone is sanguine what the fed will do in a few minutes. >> i'm hearing comments out by many analysts and strategists

but donald kohn, they believe that they are growing to do it. >> i hear you. tracy: i'm going to throw it out to scott out in florida. i would like to say sunny florida but i know it's cold. scott, what do what do you thins going to happen today? >> i think we get another 10 billion in the taper. i think that is the path the fed is on. it is really up-to-date at that and financial conditions to argue they have to deviate that path in the months ahead. ashley: lizzie, one what are chances the fed will taper its taper? yeah. >> i don't think there is -- ashley: no reason to. >> no. you know, listen, we've been running at the same job growth for the last, get this, three years, since 2011, about 153,000 a month. i think that is what the fed is looking at. the action will be in the forward guidance on rates, right? what will the fed do there? and, you know, i'll tell you something that is where the credibility comes in as the federal reserve. that jobs rate is moving target.

not a trigger, just if it goes to 6.5% or six even, that the fed reviews its rate policy going forward. ashley: we are seconds away now from finding out. as lizzie pointed out we'll be very interested in this forward guidance to see what clues there are. let's go to peter barnes. >> the fed continues, the fedcoy ashley. the fed continues its taper policy, cutting bond purchases by another $10 billion a month as expected, citing a pickup in economic growth. let me get to the economic analysis straight away. quote, information received since the fed met in december indicates that growth in economic activity picked up in recent quarters. labor market indicators were mixed but on balance showed further improvement. the unemployment rate declined but remains elevated. household spending and business fixed investment advanced more quickly in recent months while recovery in housing sector slowed somewhat. fiscal policy is restraining economic growth although the

extent of restraint is diminishing. inflation has been running below the committee's longer-run objective but longer term inflation expectations have remained stable. jumping ahead in the statement to the keyylines here. quote, the committee sees risks to the outlook for the economy and the labor market as having become more nearly balanced i it is continuing to monitor inflation developments and it says, quote, taking into account the extent of federal fist ral retrenchment since the inception of its asset program, the committee sees improvement in economic activity and labor market conditions over that period as consistent with growing underlying strength in the broader economy. in light of the cumulative progress towards maximum employment and the improvement in the outlook for labor market conditions the committee decided to make a further measured reduction in the pace of its asset purchases. beginning in february, the committee will add to its holdings of agency mortgage-backed securities at a pace of 30 billion a month,

rather than 35 billion per month and will add to its holdings of longer term treasury securities at a pace of 35 billion a month, rather than 40 billion per month. the fed says, quote, the committee's sizable and still increasing holdings of longer-term securities should maintain downward pressure on longer term interest rates and support mortgage markets and help make broader financial conditions more accommodative which in turn should promote a stronger economic recovery. the statement goes on to say, basically assuming economic growth continues the committee will likely reduce the pace of asset purchases and further measured steps in future meetings, however, the fed says, once again, asset purchases are not on a preset course. the fed reaffirmed the federal fund rate at zero to a quarter%. it reiterated that the fed fund rate will stay in the current range well past the time that the unemployment rate declines

to that threshold of 6 1/2%. this is the vote for this new fomc was unanimous, 10-0. also want to mention that the fed at this meeting authorized the new york federal reserve bank to continue to test a new policy tool involving short-term collateralized loans called repurchase agreements. it has, it has decided to extend these test, these exercises for another year through january 5th fifth. this is a tool that the fed could use to help it to try to control interest rates as it, as it at some point starts to reduce its $4 trillion balance sheet. it is not reducing it yet, gang. as you know it is still adding to it but it wants to test this tool, continue to test this tool going forward for unwinding all this. back to you. ashley: peter barnes, thank you so much. let's get straight to the new york stock exchange. markets immediate reaction, we saw drop of another 10 points and now coming back, nicole. >> even more than that.

we were down about 125 points. then we got down to 165 points. we recovered right back to where we were moments before peter barnes began to speak an deliver the policymakers decision. what is interesting how you had a unanimous vote for the first time since the summer of 2011. couple of things, doesn't it sound great? they're continuing with the tapering plan. things seem better. but overall concerns are still housing sector still slowed. unemployment rate declined but still remains elevated. so there is still concerns out there. right now the other thing that i'm continuing to watch is the 10-year bond, 2.72% up from 2.70%. the vix remains the same and the dow just actually now slightly improved pro before we got the fed statement.

back to you. ashley: seeing euro lose some ground against the dollar. unchanged against the yen although we got pretty much what we expected. interestingly made no mention of emerging markets. tracy: not at all. i think we knew that would happen. let's go down to the pits of cme. phil flynn. phil, what is the initial reaction because at types it has been crazy. >> we had initial cut in half. we were up $15 in gold. we are up $7 after the announcement. went back up. $17. now we're back up $8 as well. that was a pretty big move to get back where we were. we gave up a little bit on gold and silver. now the other markets, industrial metals, they do not like tapering especially when you add to the fact that we're going to see tapering in the backdrop of worrying emerging market economies. so the demand for the industrial metals are going to get hurt. it is not going to be good demand either for the oil.

oil prices started to dip. they're down just a little bit of at announcement. so definitely a negative anyway you look at it, for the demand for commodities and that is the initial thing. of course you look across you know, the rest of the curve right now, we're seeing a lot of movement but getting back to where we were on a lot of these commodities. tracy: phil flynn, thank you very much, sir. ashley: let's get back to our panel and digest many solve these details. scott brown, your thoughts on the decision, on the labor front. yes, some indicators have been mixed but doesn't really refer to the awful number we had in december and predicting things will slowly but surely get better when it comes to jobs. what's your initial reaction? >> i think with a lot of the economic data we're going to see for december, january, and february we know we tend to get major weather effects. the seasonal adjustment is very large. you can see a lot of numbers get whipped around. the fed is basing policy where it expects the economy to be later in the spring, summer and

second half of the year. i think the fed does see a lot of these headwind that we've had last couple years as having faded. the housing sector is now adding. we're not going to get as big of a drag from fiscal policy as we got last year. state and local government may be expanding adding to overall growth. all the things point to better growth down the line. maybe have some concerns about emerging economies. the fed gave plenty of warning that this tapering is coming. really important for people to remember that the fed's not hitting the brakes here. they're just taking a little bit of weight off the gas pedal. hitting the rakes is still a long, long ways away. when they start hitting the brakes they will tap very lightly on the brakes. ashley: 65 billion a month is not exactly putting on the brakes. tracy: interesting they mentioned emerging markets, 40% of global gdp. eventually they will start mentioning it. >> fed could be repurchasing bonds in the future. they didn't limit that. ashley: right. right. >> this is what will happen. it will be year of emerging

markets. 2010 was greece. 2011 was e.u. crisis. 2014 is the emerging markets issue coming full bore. the fed said inflation is not an issue. we'll keep thh zero, six-year running low rate policy. this will test the fed's credibility on being able to pop bubbles. inflation to the fed is not an issue. now it is about financial excess in the system. we've seen reserves in some big emerging market economies, the currency reserves double, double 2008. and how they manage that is so key for those markets and for the currency markets worldwide. ashley: good point. bob, what about that? is that janet yellen's biggest challenge to spot the bubbles before they get beyond the point of no return? greenspan didn't do it that well. neither did ben bernanke. >> with this quantitative easing, the federal reserve, you could argue has been creating an overall bubble. you know the federal reserve is going to be there to really

first and foremost work for the united states. they're not going to be using fed policy tools such as quantitative easing or the fed fund rate to really, you mow, sort of support what is going on in these emerging market economies. i wouldn't be overly focused on that. i think most important thing is really watch and make sure that the message gets through to the rest of the economy they're not going to be doing anything with the fed fund rate until interest rates, until the unemployment rate really hits less than 6%. you could say it has gotten down to almost 6 1/2 but it really, truly is not there. this market is not influenced by the federal reserve and -- ashley: dow is down 186 points. reversed it. >> down a buck 90. it is all about the emerging markets. people are looking for a correction. this you get a little selling pressure. tracy: charles, i want to jump in here, a weird way the ferb pushed us into risky assets, risky assets being emerging

markets. quantitative easing kind of did this to us. now you're stopping it. and those emerging markets go down we'll feel the effect here. that in turn affects the u.s. economy. >> it does but i think maybe hope is that again that -- tracy: hope you have to underline and triple underline. >> from somewhere else, most of these emerging countries have foreign reserves. dramatic action like turkey did overnight. i still think it is all about here at home and i think we also need to put it in proper context. they're still buying $65 billion of stuff. this money is not getting to main street and that is the biggest problem. why aren't they worried about inflation? because the real definition, basic 101 definition, too much money chasing too few goods.3 who has too much money? anyone watching show have too much money? let me snow! that is the basic problem and conundrum they're in. they have the gigantic balance sheet and it is not working.

risk is there built up every day like a ticking time bomb but it is not working. ashley: -- let me ask what you said, charles, do you agree with him. >> not necessarily. i don't think the qe3 has not been without effect on economy. we've had lower long-term interest rates and lower mortgage rates which helped the housing recovery but i think the fed sees this quantity kwan as being less effective over time and perhaps morris can i. i mean there is some danger that it could create bubbles. all else equaled they wan to get rid of it. it was never meant to be a long-standing program to begin with. the markets last year really overreacted to the talk of taper. the central idea here they're taking the foot off the gas and they're not take taking foot off the brakes and will not hate the brakes for a long time. tracy: lizzie, last word. >> charles makes a great point where is the lending? banks will do it when they see incentive to lend, right, if there is consumer demand.

again and again we have to watch out the fed's credibility on popping bubbles. they don't want to use a blunt force instrument of interest rates. that is like taking a hammer to it but we've got to watch out. the u.k. in '92 was important issue how england handed it. they were too late and too big with the rate spike. what goes on in thailand and indonesia and other emerging markets, yeah they can reserves to sterilize right, what is going on, to buy their own bond but that's limited. so what's really key is how they tell the markets, we will stand by our currency. we have credibility here. we will defend our currency. that is the storyline for 2014. ashley: we'll get more into this. we need to take a break. of course we want to hear from you at home. fill in the blank on our twitter question, janet yellen's fed will be blank. your answers ahead our fabulous panel will be back. we have really good coverage and good people to talk about what just happened and what will happen in 2014. the dow is down 170 points right

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tracy: now that they have had a moment to digest the fed decision, nicole petallides on floor of the exchange. we're back down 175 points, nicole. >> markets are really under pressure here. of course the earlier in the day emerging markets with a catalysts for the move to the downside. now you heard obviously from the plans.hey kept with the taper the dow is down 1.1%. really hovering not too far off the lows of the day at 15,739. we're watching as i also noted we talks about emerging markets. and talked about tepid outlooks for 2014 and we have to talk about the technicals again. i mentioned earlier today, once again you start to who haver around technicals moving average, and when you start to challenge those it is key to have support there rather than to break through and move even lower. that is what traders on wall street are really looking at as well. right now the dow is down 170 points. you have most of these averages to the downside and retailer, drug index, bank index, transports, all lower.

back to you. ashley: broad drop. nicole, thank you very much. we're back with our panel. scott brown, bob pavlick, very own liz macdonald and charles payne. let me go to you and ask you question we're asking our viewers, janet yellen's fed will be blank. what will be? >> i would say highly competent. she was definitely a very highly qualified candidate. she had a very strong hand in the fed's policies. not just a caretaker fed. there are actively looking forward at what they might have to do down the line. so, i think we're in very good hands here. tracy: charles, what bothered you the most about this statement today? >> the fed keeps talking about fiscal policy. tracy: yeah, getting in the way. >> fiscal policies are restraining economic growth. came off the state of the union address where on one hand president obama wanted to take a victory lap and portrayed us as country falling apart and meanness success where one person takes away ability from

one person to be successful. i agree with the fed that fiscal policy one main thing holding us back. we know all these guys are trained central bankers an economists in this vein. even they wish they didn't have go this far, had gotten help or heavy lifting on the other side of the equation. >> inequality has been around since noah and the flood. someone tweeted back since adam and eve on twitter. >> who made more than the other? >> play the fed game that your executive producer lou put out there. the fed what, my answer is, slippery. that is that this whole thing about when will rates go up, it is really a slippery non-binding benchmark. ashley: it is a fudge. >> it's a fudge, a massive fudge, that the federal reserve will reserve the right to review. it is not a trigger if the jobless rate goes to 6 1/2 or 6 to 5. they will decide to review what

happens to rates. my gentleman to the left here makes a great point. to get the loans, and get people off their seat when they see rates going up. that is the trigger. tracy: policy -- dow down 213 points. ashley: session low. >> bob, what would you put in the blank, janet yellen's fed is going to be? >> i think it will be interesting because she will be tempered and measured in her approach to interest rates going forward. ashley: scott. what do you think? do you agree with lizzie the whole notion of rates rise is a bit of a fudge, not very clear communications? >> well, there's always a little bit of wiggle room. you've seen them sliding on the threshold. i think the markets had a real hard concept understanding what the thresholds meant. this idea that they're really guideposts that they're not necessarily goals. so the unemployment rate goes through six 1/2% which it may do in a month or two. the fed's still going to keep short-term interest rates

extremely. they could pull it forward or push it out depending what happens withish nation. ashley: right. >> there is important reason why they're doing that. this conditional commitment to keep rates low for a long time. long term interest rates a series of short-term interest rates. that helps put downward pressure on long-term rates. doesn't cost them anything. all they're using is word. >> that is fudge anyway. ashley: it is a fun. >> fed looking at labor force dropouts, right? >> unemployment rate, 1.3 million people all of sudden leave the workforce. that 6% number is not a real number. ashley: producers are screaming at us. you are done. we have to go. everyone thank you so much, scott brown, bob pavlick here in the studio. liz macdonald and charles payne as always thanks very much. great stuff. tracy: dow was at session lows. we pulled back with more fed coverage and more panel reaction ahead. we want to hear from you, as lizzie pointed out like old

school -- janet yellen fed is blank. i play that with my daughter all the time. your answers ahead. ashley: the president trying out his state of the union pitch at a costco store. "wall street journal's" jerry seib joins us next. stick around. welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping.

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ashley: dow near session lows. we hit, down off of that, down 185 points. close, 7.47. finishes that would be official pull back territory, down 5%, since the high back in december, on the dow. when it peaked so we will keep an eye on that. bouncing up and down quite a bit. tracy: people are waiting for the pullback. all right already, let's do it. we got president obama the day after his big address trying to sell his state of the union proposes, get this, at a costco. costco store in suburban maryland. should try the almond, they're awesome from costco. joined by "the wall street journal" washington bureau chief jerry seib. i'm a huge costco fan. jerry, the highlight was when he honored army ranger cory remsburg. what were the highlights for you? >> i thought, look, when i read

the speech in advance you knew that would be a giant applause line. indeed it was, it went on for i don't know how many minutes. it was deserved and really moving. i thought the, i was also interested by the way the other line that got the most applause as far as i can recall, when women succeed we all succeed. there was battle underway for the 2014 women's vote last night between that and republican response afterwards. i do think the attempt to great many frame. >> sure of 2014 as issue of income in equality, by kind of do it in softer tones than i think the president has done it in some recent months. try to make it not sound like class warfare. that is what he was about again today. this is about economic growth for the whole country. not rich versus poor. tracy: kind after different tone, right? i felt like he was surprisingly upbeat. even though he is kind after lame duck at this point and poles are not so great, he seemed like everything is okay after all? >> look, let's face it we all

get carried away with washington the second term he has done. only one year into the second term, as i recall bill clinton and ronald reagan got quite a lot done in the second half of their second term. it is very easy to get carried away with it is almost over for barack obama deal. he didn't have a good year in 2013. that accelerated that talk. i am still here. i have an agenda, i have various ways to enact piece of that agenda. yes, the goals were more modest and vision may have been narrowed some but we will still do things this year. tracy: right. to your point no big policy surprises right? no big announces, energy, environment. immigration was barely touched. took him 40 minutes to even mention obamacare. >> right. i thought the one interesting exception was this new eye raw, "myra." i think we'll have to work on saying, although details will come later today. not exactly is it clear what that is but it is clearly an attempt to go to security,

retirement security for middle class americans which i think by the way is a growing issue. i think there's a sense more and more americans are approaching retirement without adequate resources. that is attempt by the president to get out ahead of that. tracy: go back to the initial comment about women and equality. cathy mcmorris rodgers put in republican response. do you think they put her in because they're worried about hillary clinton coming down the pike? >> i don't think there is any doubt about it. cathy morris mack rogers gave interesting response. it was thematic, not programmatic. you could not find a lot of republican policy proposals in hers. that wasn't the point. the point was to say we have different philosophy with republican party. we start with markets, that i as a woman and mother and working mother trendily to people in general and working women as well. that is the point of a lot of debate here.

a lot of discussion about, in fact the president framed it this way to some extent, the discussion about income inequality a lot is particularly hard. the rules of the economic road are particularly hard for women and single women and single moms and we're boeing to address that to the democratic party. cathy mcmorris rodgers was there to say, hold on, we can do that as well. tracy: jerry seib, good stuff. single people in general get ripped off by the tax code. >> sure. happy to be with you. ashley: coming up next half hour of "markets now" your fill in the blank tweets. janet yellen's fed will be blank. sandra smith and david asman be here with their takes on the fed. tracy: we have a week-long look at super stocks. this one physicians with pepsi today. how can you make money from the big game? we'll tell you plus how the -- ashley: plus how the new itunes store is giving a hint what it may have up its sleeve?

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ashley: volatile after 90 minutes until the close look at the dow 30. a lot more red on this day as the market's sell-off but it is coming back down 200 points ten minutes ago on the upside, microsoft, verizon, boeing and coca-cola bringing up the rear. nicole petallides has the latest. nicole: much of the same, i walk around for talking to traders doing the same thing you're doing which is looking at the dow 30 and here is a look at it, plenty of red on the screen and boeing and coca-cola big laggers, boeing counting for 50 negative dow points.

i wanted to look at some traders looking at very closely. see the white line? the 200 day moving average. the red line is the 50 day moving average, this is the s&p 500, what traders of looking at. this is the prior day. see how we held on to the 50 day moving average. this is where people start to worry. you look at that. that is the s&p 500, that looks -- you see this drop we this scene in the last week or so the s&p is down 3.7% this year, the dow is down 5%, it shows you we are in some sort of correction type mode and it continues until you start to see a bottom that it actually holds. in the meantime you break through moving averages and technically there it is. tracy: could be buying opportunity. time for your tweets, fill in the blank, janet yellen said

will be blank at the bottom of the screen, we are joined by sandra smith and david asman with parrot breaks. you were in the pits of the cme, two announcements ago when it was on fire, craziness. what do you bring in today? liz: i was hearing a lot of speculation, emerging markets and maybe we would see the fed scaled-back 5 billion more than 10 billion. when the fed statement came out i dug through it, no mention of the emerging markets. right away went to bill gross's twitter page and he said it moved to treasury so the fed is boasting about growth scaling, capering by 10 billion talking about growth, looking at the yield on the 10 year sitting at 2.7%, that is not a growth story, that is an investor saying the economy is stagnant

so two different stories. dave: might be touting his own book. can i say one thing i think happened? this is the first time richard fisher has voted in years. he appeared two months ago saying he felt 10 billion wasn't enough, it should be twice that, 20 billion but he voted with the group, unanimous decision. a lot of people wonder whether he would be sent, maybe there was some kind of deal going on, richard fisher said i know you guys may want to give a little more to the emerging market situation, more accommodating to is that. i want to be a little tougher and maybe t little dealsmaking going on. ashley: to the emerging point, i think traders are saying this didn't show up on the fed's radar. they have been going crazy,

central-bank in emerging markets fighting for their financial life and yet it doesn't even warrant a comment from the fed. dave: if that is sensitive to charges some of whicc are true, too accommodating to stock markets whether our own stock market for and stock markets and they want to disassociate themselves because the mandate is to keep the currency under control and keep unemployment low and sometimes when a market goes up it is because they fire people so it goes against the unemployment mandate. too closely aligned in markets. >> they wanted us to have stocks and risky investments pushed us out. so my answer to the twitter question, really interesting question was pragmatic. have no reason to believe janet yellen will enter and take a pragmatic approach, she has a lot of problems on her plate, she is an economist and has to deal with these reasonably and

expect that she will. the problem is economic policies in washington, the weight of the world cannot be on the fed's shoulders all the time. and the policies in washington affecting the fed and how the fed will respond. ashley: let me ask you this, one of the biggest challenges is janet yellen to get ahead of financial bubbles that are out there. the emerging market being an example of that and to take care of these bubbles -- dave: i was very surprised there wasn't some -- may not have accommodated there tapering to what is happening in the markets but some mention of it will come later. she is feeling her way through, this will be a more contentious federal reserve that was before. tracy: no longer voting. does that concern you? dave: they have been replaced by

fisher. there is a kind of a balance but an overwhelming what we saw in the last bill was overwhelming consensus for continuing to taper or going deeper with the taper so maybe what she wants is not what she is getting. i would suspect if i was to throw one word to answer the question she will be frustrated. frustration will be a big part of her because she would like to be much more accommodating, much looser with money. tracy: your word is frustrated? i will take it. thank you, thank you. ashley: i had in our week-long look at superstocks, cashing in or superbowl ads all over the top. tracy: a rare southern ice and snow storm brings atlanta to a virtual stop. it is crazy. the polar for tax is killing retail sales too.

ashley: 2-1/2 inches of snow, disaster. and taking a look at how oil closed for the day down $0.05 at $97, $0.36 a barrel. we will be right back. then we gave each person a ribbon to sh 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. ♪ 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...

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ashley: there is little relief in sight from a deep freeze gripping the south.

temperatures unlikely to rise above freezing for long enough to of those like covered roads and bridges and the storm turned highways in atlanta into a nightmare paralyzing traffic, stranding drivers who are not used his fists, painfully frigid weather is hurting retail stores. retails looking to attract a few brave souls that hid their stores so they can do some real time information gathering from a startup called euclid analytics, technology track that shops by aggregated pins from smart phones. we talked about this before. here to tell us about it is will smith, euclid analytic ceo. thank you for being here. why is this important? you are tracking shoppers going into a party to the store off of their smart phones and cellphones, what is that telling you about shoppers? >> we are trying to do what amazon and google have been doing for years online which is

making the shopping experience better for today and with our technology, retailers can make smart decisions and figure out what is working and what is not. ashley: what information can you provide retailers? >> people walk by the score or come in and how frequently did a visit and how long do they stay. ashley: what can the stores do with that information? >> one of the things we're looking at is line blank. one of our customers at a coffee chain in the bay area, and the lines get along of. when you coming for five minute and get frustrated by the line and leave. we could make it better. ashley: interesting. as with everything when you are gathering information was the public out there, concerned about security, what information i you gathering and who gets to see it? >> with any new technology

privacy is a big question. we have worked with the future of privacy forum, senator shimmer and leading retailers and technology companies to provide conduct, it is based on three principles, first is limiting the data we collect, making sure all the data we show is arrogant and anonymous, no personal information and provide an easy of doubt. because of this we recently named the design ambassador. ashley: how old is the company and how many employees? >> we are about 40 people. ashley: are you based in the bay area? >> san francisco. ashley: crazy part of the country. and a beautiful part of the world. what are your plans for the future? >> we are excited about continuing to answer fundamental questions for retailers figuring out which half of your marketing is wasted, questions like that. ashley: the mention the opt out. this type of information gathering becomes -- other

companies doing the same thing. i just have to turn up the wi-fi button on my phone and you can't track meet. the easy opt out, does that hurt you? >> i think it is grade. we have to provide choice. at an end of the day when our data is being used for is to improve the shopping experience and consumers will be happy. ashley: how would you describe the economy? you'll laugh. >> the weather is not helping retailers. one of the metrics we look at is how many people walk by the sport and when it is freezing outside not a lot of walking by. ashley: the only reason they go in is to get warm. euclid analytic ceo will smith, thank you for being here and continued success. tracy: i am one of those people who leaves when the line is too long, patients of a 2-year-old. it is time kris cox. the market is not having a lot of patience. we head to the floor of the exchange and thankfully, teddy was third with us right now.

what is the story with the fed decision. we knew it was coming. >> there was some wishful thinking that the fed was putting tapering on hold and would have tapered less but i think that is nothing but wishful thinking. it is ultimately negative for the market. the fed back stopping the market with monetary easing policies off of the table, when the focus is corporate earnings, a mixed bag, a and the emerging markets again, and the heroes don't, and it gets of little problematic and a market created an all-time high, doesn't leave a lot of room on the flip side for bids

and a vacuum on the bid side and we have been in trouble since the beginning of the year and i suspect it is going to be difficult going forward. all the low hanging fruit for all intents and purposes has probably been picked to. tracy: either that or he is rotten now. teddy weisberg, thank you. ashley: superbowl super stock of the day, today's pick, pepsi. down today. and the beverage maker's up 13%, not bad chart. plan to invest $5 billion to expand production to marketing in mexico and an investment that would add 4,000 jobs. in 2012 developing emerging accounting for 35% of the company's revenue. as for it superbowl labs, pepsi

planning two, 30-second spots, pepsi, lot of pepsis, featuring fox sports commentator terry bradshaw, shannon sharp, deion sanders and mike ditka, rendering sunday's grammy awards show. it is a key sponsor of the nfl and official sponsor of the alpine show. super bowl halftime show will be headlined by tracy's all-time favorite pop sensation bruno mars. catch that halftime show. tune in to your fox affiliate as it gets underway at 6:30 p.m. eastern time. will be cheery inside metlife stadium. tracy: and his hair. gray hair. all right. next in your tech minute why changes to the itunes store could signal a new product line. all you detectives from apple.

ashley: look who is on the cover of the iconic lesley name, rolling stones. interesting stuff. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton ofreight nearly 450 miles on one gallon of fuel. what a day. can't wait til tomorro

ashley: time for your tech minute, shares of yahoo! deep in the red after the online company reported a declining revenue stream that shook investor confidence, four brokerage houses lowering their price target this morning. ceo marissa meyer has moved to kickstart the company with products makeovers, acquisitions and big eyes and that sales continued to struggle. yahoo! also seeing a decline in online at prices and slower growth of our ali baba in which

yahoo! has a large stake. apple creating a new session for apple tv on its web site with valentine's day promotions and fancy design of grades, and apple tv no longer the redheaded stepchild of the apple product line, steve jobs hoped apple tv would be a major product for the company like the i phone and the ipod have been. as the new web page sessions signal that appleby is in the not too assistant future? apologues 9-5 reporting the company is expected to implement changes to apple tv in the coming month. stay tuned. facebook, mark zuckerberg saying the company has saved more than $1 billion thanks to build open source service. the environmentally friendly initiative blossomed into server designed for ibm, microsoft and intel. keep it right here for complete coverage of facebook's fourth quarter earnings on "after the

bell" with liz claman and david asman and 4:00 eastern time. tracy: ashley revealed it before, pope francis on the cover of rolling stone magazine. saying he is the new darling of the left. describes him as the new king of the liberal and rush limbaugh used the phrase pure marxism. he is the pope, he is supposed to be inclusive. he is supposed to be liberal. rolling stone also wrote pope francis is making the quote nick and unnoticeable break facing political issues head vonage presenting a more all-inclusive attitude toward human rights but he's just doing his job working with the times, he's tweeting getting to the people. ashley: i think it is a breath of fresh air. tracy: i did not expect you to say that. ashley: finally getting out there embracing new technology.

you are right, the pope should be all inclusive. that is what it is about. tracy: we agree. i am so happy. i am converting. "countdown to the closing bell" is next. may be running into heavy's tickles in dan logan's quest to break adele chemicals. warren buffett is here with mr. buffett's comments to liz about how the ceo is running dow chemical and dow is down 175 points. mpany became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not 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. there's nothing like being your own boss!

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