tv Markets Now FOX Business March 4, 2014 1:00pm-2:01pm EST
1:00 pm
out. cheryl: i disagree with tracy on that. what a difference a day makes when it comes to your money. i am cheryl casone. adam: adam shapiro. russia is retreating and the market's doing anything but. the major averages wedding out losses and continuing to gain ground, a better than 2 and the points. cheryl: president obama and john kerry condemning russia's actions but offering few other details. president putin pulling back troops that says he reserves the right to use force as a last resort. the standoff may not be over. adam: facebook is looking to the skies to spur growth. it is betting on drone technology to bring it social media site areas unable to access the internet. cheryl: dish network disabling the controversial ad skipping technology but playing favorites, doing it only for disney. as the satellite cable provider moves to offer streaming content for those who don't want a dish on their roof and that is just
1:01 pm
about everybody. adam: tensions mounting in eastern europe as the crisis in ukraine unfolds, president obama and john kerry today speaking against russia's escalating military presence in the region of crimea. >> we stand on the side of history that i think more and more people around the world deeply believe in. the principle that a sovereign people, independent people are able to make their own decisions about their own lives. vladimir putin can throw a lot of words out there but the fact on the ground indicated there right now he is not abiding by that principle. >> if russia does not choose to the escalate, if it is not willing to work with the government of ukraine as we hope they will be, then our partners will have no choice but to join us to continue to expand upon steps we have taken in recent
1:02 pm
days in order to isolate russia politically, diplomatically and economically. adam: vladimir putin today alleging ukrainian president victor yanukovych was overthrown in an unconstitutional coup vowing to use force as a last resort as russian troops earlier fired warning shots at unarmed ukrainian soldiers. adam: the stock market as today's strong gains. cheryl: a lot based on what we saw yesterday when worries about ukraine were rampant, nicole petallides with a lot of new highs today, the s&p 500, the small caps 600. i could go on and on. nicole: absolutely. that is what we are seeing today. complete reversal and traders on wall street were great concerns, action will be noted that yesterday's market was an oversold one. ten sectors to the downside,
1:03 pm
today all ten sectors we follow so closely, the dow up 216 points, a gain of 2.3%. that is our best performance of this year. is up 1.22%, down in the record books and as you noted many new highs, we are seeing 40 names on the s&p 500 ridding record all time highs and gains across the board, financial, health care, industrials. cheryl: see you in a bit. adam: let's talk stocks, today's rally proving our next guest's. the ukraine and the crisis is just a passing thunderstorms rolling through the markets. chad morgannot lander of steve and nicholas joins us now. chad, seems the storm has passed a too soon to say that? >> it has passed and perhaps it will be some disruption along the way but really the market is running not because of russia
1:04 pm
and ukraine but because lot economy seems to be gradually improving. by no means are we at escape velocity, earnings last quarter were very good and we get into an inflexion point where it seems confidence is coming back not only to the financial system but the broader economy. cheryl: the kind of argument back here that if you look at a crisis in ukraine and did it have market participants very nervous yesterday this could indeed hurt the u.s. economy you just talked about. if we had issues with russia sanctions against russia that threatens our economy and the emerging markets around world. >> indeed it does threaten emerging-market. i do agree with that. in regards to global growth i see this issue as minuscule at best. we don't think the global growth dragged from sanctions with russia will be all that meaningful slow therefore i think investors are looking past this disruption at 2014 and
1:05 pm
saying to themselves where do i want to be? we would recommend developed markets, perhaps europe and the united states and in fact we would stay away from emerging markets at this inflexion point. adam: if we could put ukraine and russia in the rearview mirror i thought lot of analysts believe the profits we saw in 2014 when coming at the expense of 2014. am i hearing you correctly that that is not a case and there's plenty of upside to go? >> we see a modest improvement in capital investment and wage growth, you have jobs growth that has been somewhat lackluster in the last couple months. we believe next friday's number will be somewhat in line with expectations so what we are expecting is the u.s. economy will grow gradually and hit that point of 3% gdp growth so what do you get? revenue growth within the s and p round 2.5%, earnings rose to
1:06 pm
around 8% and we are looking for expectations of 78% -- cheryl: glad you said that, looking at the nasdaq and the s&p and you have the s&p positive for the year up 1%, the nasdaq positive by 3%, it seems that is on technologies, the dow lagging a level bit. at this point there doesn't seem to be a speed bump if we get past the ukraine situation. what you calling for for the major indices for the year? >> we're calling for 6% to 7% on the s&p for year end and also interest rates to go a little bit higher. perhaps you get that 3-1/4% range. if your looking for opportunity in regards to investing we look towards health care, consumer discretionary as two sectors we believe you confined good value.
1:07 pm
cheryl: i know you like t. j. max. you do like consumer discretionary. thank you, chad. adam: let's talk technology. cheryl: looking to enter the drone business list of reports say the social media site is buying tighten aerospace for $60 million but why? let's bring in executive director todd able to. facebook making a move in the drone company. >> everyone is wondering why drones, or cameras up in the air but this is what we saw a google do with project minute and south connecting the rest of the world, two thirds of the planet doesn't have access to internet connections so we am looking in third-world countries how to get imam line. i was talking to adam and the question is is it cheaper to do with this way versus building powers and after some research i
1:08 pm
found these can provide better solution, one drawn provides coverage of hundred towers due with 3,000 square kilometers. adam: the drill we are talking about the company hasn't had these things fly for five years. the premise is it is cheaper to have a low orbit style satellite than one in space but moving parts break down so how is one of these 11,000 if facebook went forward with that? >> we don't know because commercial availability won't happen until next year. and one as a payload capable of wireless signal. how do they stay in the air? i don't think we know and haven't had the confirmation from facebook or the company saying what is going on or how they plan to do this. cheryl: they are not the only ones looking at drones. the amazon delivery drones glory, google had project moon, they are looking as wild,
1:09 pm
everyone wants to access the emerging market customers. if i can get all those folks in africa that don't have e-mail internet service, google or whatever. goldman is an american company and that is the true fight. they would love to get sub-saharan africa. >> what these companies are trying to say is humanitarian effort, we want to get the world connected on the internet. bring in users on facebook, free option in some emerging markets, low-cost options that are free if you are on with a carrier so you are bringing on more users, with google services. bill gates said it is better to be on the ground throwing nets and fighting mosquitos and malaria than trying to bring internet to countries and that is the question. internet provides education and jobs, better way to do a or fighting the real problems? cheryl: economic activity. >> as to better investment, 60 million here, $19 billion for
1:10 pm
what's app. adam: we saw the value of the messaging platform blackberry stock was up 7% on that day so you see connecting the world, 50 million monthly active users is huge and that shows the potential of the rest of the two thirds of the world on to the internet that is where $16 billion -- what about the other $5 billion? >> 60 million is something. 10 prospective -- adam: the gods must be crazy. stock alert, j.c. penney on a tear after standard and poor's raised its credit outlook on their retailer to stable from negative. an analyst says the upgrade reflects their views that performance has begun to stabilize. the retailer forecast further modest gains over the next year.
1:11 pm
cheryl: has let announcing it will open over 30 new service centers and stores across europe. tesla's extension of the supercharger is good news for fuel cell and solar companies fuel cell energy and all of them hitting 52 week highs. all thanks to to as low. the unstoppable stock. adam: the obama administration is rolling out its 2015 budget and singing the familiar tune. can use a tax hikes? cheryl: oil prices reversing course, down 4% after closing at the highest level in five months yesterday. commodity analyst matt smith and phil flynn saying get used to this volatility. the energy burrito and the mighty fallen coming up next. when does your work en
1:13 pm
does it end after you've expanded your business? after your company's gone public? and the capital's been invested? or wn your compan's bought another? is it over after you' given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. coach calls her a team player.
1:14 pm
she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. cheryl: reversal of fortune in the energy it, oil prices falling back to work close to
1:15 pm
levels not seen in five months. vladimir putin said he has no plans to annex crimea. matt smith of schneider electronic and author of the energy burrito. phil flynn of procedures group in the trading pits of the cme. the volatility in the energy market just in the last two trading sessions has been nothing short of miraculous. do we need to get used to is this? >> things haven't cleared up by any means but as the relief in markets has been palpable that is why we have seen even european natural gas rallying 10% yesterday tracing 6% today and crude rallying yesterday and pull back and so if this is of a good thing it shows hopefully
1:16 pm
the situation is easing. cheryl: the volatility we are seeing market wide but when it comes to oil it is a $ -- the stronger dollar is more of the treasury story. are you bullish on nymex despite we're seeing ukraine? >> i think we are and can't get through my day without my energy breed of. i don't know how to get through my day. highly interesting, talking about you -- this is not as bad as it could have been. had this happened before the energy revolution we would have seen more dramatic moves. we are lucky this happened at the end of winter. of very moderate winter, there is more volatility, the department of energy -- arraigned on brand food is the
1:17 pm
tightest has been since 2006. are we going to see volatility on higher level because of increased risk? the answer is yes. cheryl: just bringing up the fact that demand and supply -- you have regulations in place that could be doing the heck of a lot more to be in this situation. taking 40% from international territories, and t is not changing. >> political tensions fighting things, behind the 2000 level, because of the arabs spring, 2012 because of iran's nuclear ambitions, last year the high of the year because of syria. even though we are still importing so much, geopolitical tension, being driven to these
1:18 pm
highs. cheryl: we talked repeatedly about the keystone pipeline which would alleviate what we are seeing today. >> not just keystone. that is part of it. this anti energy policy. we have taken for granted the fact the we can change the world with our production and geopolitics. vladimir putin has learned that lesson. they realize the main reason they are in the ukraine is to get control of the pipelines. they don't like the fact that somebody else impact their energy. they realize when it comes to the global game of power is mainly about energy. russia is taking a last gasp to control as much as they can before the u.s. becomes a major player. cheryl: at the end of the dave vladimir putin wrote loses oil if he continues to pursue this
1:19 pm
aggressive policy. is that what we're seeing overseas? >> yesterday we saw the russian equity market to 13%, we saw the ruble hit record low. when the ruble weakens it means it has to pay more for crude. economic implications. no surprise that vladimir putin made those comments backpedaling. and entering into a conflict. cheryl: the energy bill read a. gentlemen, great to have you both here. >> the puerto ricans government is issuing another $3 billion worth of debt. it manages more than $7 billion in muni bond assets, we will join us to tell you what happens when you own porter weaken debt and chances are you do. cheryl: call this aspirational investing when the world's
1:20 pm
wealthiest are parking their cash. a preview of one of the biggest classic car options. in the new new york, we don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com legs, for crossing. feet...splashing. better things than the joint pain and swelling
1:21 pm
of moderate to severe rheumatoid arthritis. if you're trying to ma, now may be time to ask about xeljanz. xeljz (tofacitinib) is a small pill, not an injection or infusion, for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz can lower your ability to fight infections, including tuberculosis. seris, sometimes fatal infections and cancers have happened in patients taking xeljanz. don't start xeljanz if you have any infection, unless ok with your doctor. tears in the stomach or intestines, low bod cell counts and higher liver tes and cholesterol levels have happened. your doctor should perform blood tts before you start and while taking xeljanz, and roinely check certain liver tests. tell your doctor if you have been to a region where certain fungal infections are common, and if you have had tb, hepatitis b oc, or are prone to infections. tell your doctor about all the medicines you take, and if you are pregnant, or plan to be. taken twice daily, xeljanz can reduce the joint pain and swelling of moderate to severe ra, even without methotrexate.
1:24 pm
house has released its 2015 fiscal year budget which calls for $56 billion more in spending than congress has agreed to. to offset that spending president obama envisions raising about that tax requiring millionaires pay no less than 30% of their income to the u.s. government as well as reducing the value of the itemize reductions and other tax preferences, 28% for the wealthiest. the $3.9 trillion budget includes increases in funding for the commodity futures trading commission and the securities and exchange commission to beat up their oversight of wall street. adam: if you hold porter region that in your portfolio and you might be holding and not even knowing it, the issuance of new bonds could make those you hold a lot less valuable. robert, municipal manager co head and a portfolio manager joining me now to talk about what will happen next week, march 11th, we finally get the bond brokering,
1:25 pm
general-obligation bonds $2.8 billion what we expect, coupons around 10%, that will drive down the price of current puerto ricans debt and a lot of read moms and dads own that through the oppenheimer fund and franklin fund, what will happen to these people? >> it is pricing into the market place. the biggest news is not just this deal which is garnering a lot of headlines and news, what has pushed puerto rico to this point and what will lookalike in five or ten years? it will come to the fundamental credit at the roots in puerto rico. adam: they sell all of that and let's leave those people alone. puerto rico just announced its revenue totaled, net revenue totals, $670 million in january was down, 6.6% from the same period year ago. that does not sound good if you pay back what you currently hold their debt correct. >> at a maine state funds we manage we have been talking
1:26 pm
about this at length for a couple years going from zero exposure to april of 2012 and market access, that negative fundamental credit exists in puerto rico, declining economy, negative population growth, the utility fees are very high, so when and if this deal comes the root problems are still there and that is when the investor will pay attention. adam: this buys puerto rico time on march 11th to buy some time to work out their problems, they are not working out their problems. members of the puerto ricans said it issued a letter in which they said this is the foregone conclusion, suicide and to buy this debt. it is time to recognize our public debt cannot be paid in full. who gets hurt when they finally live up to that promise? the people who currently -- >> active management is so
1:27 pm
important. what type of debt you owner will be important in your portfolio. general obligation debt, and we do not believe they will default on the general obligation debt but will restructure a lot of other bond that exist out there and that is something the investor base is not focusing on. adam: the majority of their $70 billion debt, the majority of $50 billion is not geo debt but the stuff that gets default. so they are going to borrow money next week at a higher interest rate hoping to pay off their debt at some point? sounds like insanity. >> that is what is going on in municipal marketplace. i heard many competitors talk about once the deal comes the liquidity problem will go away, and bonds will do very well. at a minimum it will reduce some liquidity concerns going forward most notably in the current fiscal year. but the problem is still there
1:28 pm
and when you are buying the bonds you are not buying a bond to see how it will trade in two months or six months, you have to think about but economy and puerto rico as being a credit you need to own for 5, 15, 20 years and we don't see those positive stories. adam: you have no exposure as you pointed out. thank you for joining us. cheryl: here is a question. what is vladimir putin afraid of? the actions of the obama administration against ukraine and how we can hit russia where it hurts. adam: the market holding near the highs of the day, a new intraday high, we're back on wall street for the view from the trading floor. [ male announr ] how can power consumption in china,
1:31 pm
impact wool exports from new zealand, textile poduction in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat thei10-year lipper avere. t. rowe price. inest with confidence. request a prospectus or summary prospectu with investment informion, risks, fees and expenses to read and considecarefully beforinvesting. adam: it is time for stocks now.
1:32 pm
we want to head to the floor of the new york stock exchange. ben willis is joining us. talk about a difference in one day? we have, what, 6% of the s&p five hundred stocks hitting a new high today. they must be happy with what's happening politically? >> absolutely. yesterday was pure fear trade. when those of us who have been in the business long enough to know when we smell fear, that's a buying opportunity and that is exactly what we were presented with today. take a look at today's numbers. take a look at the russell 2000. that is market what most professionals consider the canary in the coal mine if you will for the direction of the market, up 3% today. no indication of any giveback from the russell. that gives the strength to the rest of the market to continue this upside move. adam: do you think we've seen, a lot of people talked about a three to 5% correction. do you still see a correction coming at us? or do you think as you said yesterday was driven by panic and we're past it and off to the races. >> this will sound a little strange. i'm hopeful for a correction.
1:33 pm
i think it is good for the market to have a correction. we had a seven 1/2% correction from the highs in the past year but only 5% in this calendar year. i don't think that is enough, i don't think it is healthy. but the economies in the world are telling us risk assets are the place to be. we heard it from bill gross today, you need to take your money out from the mattress and put it to work in the stock market. i do believe there will be times, sometimes this year it will be cheaper but i think market will be higher december 31st than it is today. adam: a lot of people would like that to be so. ben, thank you very much. >> pleasure. >> now to the very latest in ukraine. russia is reportedly threatening retaliation for any u.s. sanctions over ukraine. this after russian troops fired warning shots at a crimean airbase and threatened ukrainian soldiers. president obama and secretary of state john kerry accusing putin of violating international law but our next guest says the president needs to be matching his strong rhetoric with strong
1:34 pm
actions. joining me now is aei scholar, danielle pletka. what can he do exactly? secretary of state john kerry came out today. putting a billion dollars of aid to work for the ukraine folks and also the g7 came out very strongly they will induce sanctions against russia if they invade. what do you say to that. >> well, first of all they have already invaded. second of all we need to remember that the kind of package the offering ukrainians is more to the tune of $15 billion. the idea we can even afford to match that is really ridiculous. that is not the right approach from the president from my standpoint. cheryl: okay. one of the things the big discussion has been, the president, will he act when he did nothing for syria? we have 130,000 dead syrians now vladmir putin does seem to have intense resolve to move forward. does he push the president's hand? because the president has been perceived and called out for being weak on foreign policy do
1:35 pm
you see that scenario playing out if. >> i think you put it exactly correctly. there is one president on this stage who has resolve and unfortunately it is not barack obama. putin has his number. he has seen that despite an agreement for syria to give up its chemical weapons, an agreement by the way that russia brokered, syria has given up 11% of its chemical weapons. what has barack obama said? absolutely nothing. putin believes he can occupy and even annex crimea without obama doing anything. that is the lesson so far. cheryl: you wrote in a piece this morning that you say american interests are in america. that is how this president is operating. american interests has been in america and that is why he has been so weak on foreign policy fair enough. this is different from what in , and syria we have economic interests. russia of course is exporting natural gas through ukraine to western europe. it is one of the coldest winters on record in europe. doesn't that have the
1:36 pm
president's attention much more than it did with the crisis in syria which he vastly ignored? >> i would like to think that 130,000 dead people in syria got his attention but unfortunately i'm not persuaded that is the case. i don't think economic interests will get the president's attention in ukraine. if nato can not get its interests. if countries like lithuania, latvia, estonia have russian populations are not able to get the president's attention i doubt we'll do very much about vladmir putin that will only encourage him. cheryl: this may not be the cold war but we all remember if we're old enough where it was nuclear weapons. this is all about economic weapons. and looks like he is ready to use them at least on both side potentially. we'll see how this plays out. danielle, thank you very much. >> thank you. adam: markets are finding a new indicator when it comes to the crisis in ukraine. charlie gasparino is here now with exclusive details. he will join us after the break.
1:37 pm
cheryl: looking for work in all the wrong places. the worst major cities for those looking for jobs. here's a hint. it is coming up in the west coast minute. [ male announcer ] what if a small company 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. a research tool on thinkorswim. ♪ see what's new at projectluna.com
1:38 pm
a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. >> i'm ashley webster with your fox business brief. sony announced sales of ps4
1:39 pm
topped 15 million units. the japanese giant is counting on strong sales in the games division to boost its troubled electronics business. sony says ps4 software sales are also solid with 14 million games sold. apple cfo peter oppenheimer will retire at the end of september after eight teach years at the tech giant. tim cook said oppenheim ear's contributions were instrumental to apple's success. he will be succeeded by apple's vice president and corporate controller. radioshack will close up to 1100 stores. that is 20% of its locations after the struggling electronic's relater reported disappointing fourth quarter results, revenue tumbling 20% from a year ago. that is the latest from fox business, giving you the power to prosper.
1:41 pm
traders are watching shares of a little-known stock of clues where the market is headed. charlie gasparino is here with the latest. >> i never thought i would do a story about the google of russia. we have a company called yandex. t trades on the nasdaq. i talk with traders how do we game this market somehow? every day it is up and down. yesterday it was down big-time. today they say it is up big-time. look at trading in yandex. it trades on the nasdaq. this is pretty good proxy for ukraine crisis. traders how they are digestion the news and how that news is digested into the stock market. if you followed this company could have made a few bucks. premarket yesterday, down big-time. you know what happened in the markets. the dow crashed yesterday pretty hard. came back a little bit at the end. still not a great day. if you look at it today, yandex was up premarket. it was up 7% premarket. again the market is now up, what
1:42 pm
we have a 200-point rally? cheryl: 226 now. adam: this is interesting proxy. a lot of traders are talking about it. i'm not saying trade it. i'm not saying buy it. i'm saying if you want to see how the markets in the u.s. react to this crisis, look at this stock. now let's unpeel this a little bit. yandex is russia's most popular search engine but here's the play here. why would the markets trade off on the ukraine crisis? we have very few assets and u.s. bank exposure to the ukraine. well, because the ultimate weapon the president has, president barack obama has over putin, the president of russia, whatever he is, king of russia. >> he is the president. >> is he president? cheryl: president, yes. call him vladmir sometimes. >> the ultimate pressure he has, pressure point he has, basically cutting off credit, screwing him in the banking system, freezing assets. if that does happen, okay, it is
1:43 pm
going to be impact on the u.s. markets. our banks are going to take a hit. i'm not sure how much. they really don't know. a lot of these banks don't really deal exactly with russia in terms of lending. they're afraid to lend director. adam: dealing with the oligarchs. >> they have to. our banks will take a hit. that is something i reported out yesterday if they freeze the assets. banks are looking at their exposures. that is what is going on now. if we don't freeze assets the market is reacting not to this anymore. it es reacting to fed easing and stuff like that which is very positive. remember, this is all about if you're looking at ukraine crisis and you're worried about your portfolio, the ukraine crisis is all contingent on the notion of freezing assets. when you freeze assets companies like yandex would be in jeopardy. market is saying on trading of yandex, getting translated into our market, right now the situation is diffusing that the president won't have to go that
1:44 pm
rout route. cheryl: i was looking at two day activity on my computer. charts are up with this company. we never heard of it. >> people that cover tech know about this company. but i care less about the company. i'm not going to switch from google to yandex anytime soon but i care about it as a proxy for the market and proxy for what concerns traders. the big concern is freezing of assets. if putin invade ukraine the chances of the asset freeze and really tough economic issues that do damage to them and have some blowback potential for us goes up. >> but it hurts gm. it hurts dunkin. coca-cola. a lot of major u.s. corporations have been expanding in russia because of the end of the cold war. >> i think it hurts our banks more. banks are a proxy for the market too. remember banks trade, this is financial crisis, banks never really decoupled from our
1:45 pm
markets. if you think banks are getting better usually markets go up. cheryl: european banks too. adam: you just said it, earlier, deescalation. you have put put to insaying he wit no invade -- putin saying he will not invade. >> financial issues i'm bringing up, you know, they basically lessen. it is not as dire. but this is still a played out situation and that is why you watch things like this. if you worry about what the markets is going to do. look at yandex. it's a good barometer. cheryl: tomorrow energy sectors. charlie gasparino. see you at 3:00. >> you will be doing 3:00? cheryl: something exciting for 3:00? >> i have a great story for 3:00. cheryl: i will see you then, all right, 3:00 p.m. eastern time. adam: thank you, charlie. cheryl: the oscar selfie brought to you by samsung. how much the smartphone maker paid pour that unspontaneous academy award photo. adam: where the wealthy are, parking their cash. the world's finest vehicles are
1:46 pm
up for auction in week in amelia island, florida. you would look good. cheryl: so want to be in that car, to be honest. >> that and the mercedes 300 sl. >> my dad would love that. adam: i think pierce arrow is a packard. ♪ in the new new york, we don't back down. we only know one direction: up so we're up early. up late.
1:47 pm
thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com
1:49 pm
adam: nothing better than being crazy about cars. if you're car crazy with deep pockets, well those people will be out in full force this weekend when the annual amelia island auction kicks off. here is preview what will be on the auction block is ian kelleher, senior car analyst with rm auto auctions. you know them because they set
1:50 pm
the record at pebble beach, monterey auction, $27 million for a ferrari. we'll see what bargains are out there. thanks for joining us. >> thank you. adam: i love the mercedes, who doesn't love the gull wing mercedes from the '50s. this is 1970s mercedes benz. this car you could have gotten, 400, $450,000. today these cars are astronomically expensive this will go from one 1/2 to two million, right? >> this is special because originally owned by natalie wood. it has more celebrity prove announce and the condition is outstanding. adam: this is not gull wing. this is convertible. it has a special kind of tire or wheel. >> right. adam: original to the car. what is that? >> rudge wheels. this is one of 33 originally equipped or 25 that were originally equipped with the
1:51 pm
rudge. added bonus to the cars. a lot of people love the way it looks. adam: the lesson of the that week, the 190 we see going up in price, you can get a 280 from '71, '72, for around 50, $60,000 that is the next six figure car in five or six years, perhaps? >> actually, 20 sls, best ones in excess of 120,000 actually. they're already coming up. adam: cheryl is running out after the show to get one. cheryl: right. adam: she actually loves the cars. cheryl: i do. it is fun. adam: can we pull up, 1937 della hay roadster. we have a special auction. these people that attract, these are the elite of the elite. some of the wealthiest people in the world might bid on cars like this. how much will this sell for? >> we anticipate it will sell between five or six million. potentially more. very special car coming from very special ownership. we're die lighted to offer it for the estate. >> the body on this car, with
1:52 pm
the french curve. who were the designers for this. >> this is a body that is court competition chassis. this is very specialized chassis. it was designed for racing what you would call the bespoke elegance to it in terms of coach work. adam: i have a buddy in walton hills, ohio, has a 1965 mustang fast back to be reas separate belled but not a shelby. this car will go for, this is racer, one of 33 that still exist. >> one of 33 originally built. racy variant of the shelby gt 350. adam: the r model, right? >> correct. this should sell for in excess of 900,000, winningest shelby of all time. adam: it is hidden away. >> with its owner who is the driver, charlie kemp. adam: is the car in the original condition? it has the original paint job, doesn't it? >> it has been restored. the most on thing, about it has never been wrecked or damaged.
1:53 pm
this race car has most of the original bodywork or details that you want. adam: we're out of time. want to wish everyone at rm a good auction. previews start on thursday. if you have a few, 100,000 to million dollars like share, go car shopping. >> i actually had a classic car high school. 1976 pontiac ventura. it was purple. thanks, mom and dad. adam: not a classic. >> should be. adam: not a classic but coming up on "countdown to the closing bell." cheryl: i will talk to the lamborghini ceo about the new car. he unveiled at geneva auto show. this is first on fox business interview. it goes zero to 60, in three seconds. adam: trans am, not a ventura. >> time for your west coast minute. honolulu is one of the worst cities when it comes to finding employment. wallet hundred, recent survey on worst job market named several west coast cities as a matter os
1:54 pm
los angeles. fresno is number three, then honolulu. factors considered include, real estate, income level and overall job growth and 60 largest cities, new york was number two. we didn't get off the hook. washington state cities are considering increased oversight of oil trains that pass through communities. seattle city council will vote next monday on new resolution that would restrict railway oil shipments until further safety studies are done. involving oil before it was shipped. finally hollywood is waking up to a different type of selfie story today. according to "wall street journal" not only did samsung pay $20 million for ad time during sunday's telecost, they also paid for product placement. sources tell the journal, part of the agreement was the samsung galaxy smartphone would be integrated into the actual show. the selfie featuring ellen degeneres and kevin spacey,
1:55 pm
crashed twitter for a moment and was most retweeted tweet in history. everything has a price. do you think somebody will pay us for our selfie? adam: no. we have to pay them to take it. landmark deal between dish and disney sending both stocks into record territory. cheryl: we'll have details of course also on a plan that envisions the day when the satellite cable operator will offer netflix like tv service who would rather stream tv over the internet. announcer: where can an investor
1:56 pm
1:57 pm
1:58 pm
adam: stock alert for you. we want to bring your attention back to markets at this point of the dow is holding just above 200 point at this moment, just about 30 points off session highs. the s&p is holding near session highs after hitting near record intraday high at 1873. cheryl: shares of disney soaring to a new all-time high after the company cops to terms on a deal with dish network, restricting
1:59 pm
some ad-skipping features. our own jo ling kent joins us with details. >> hey, cheryl. dish network and did disney announcing land larkin internet tv service and will have live broadcasting from abc stations and programing from abc over the web so customers stream from homes an even set-top boxes and right now, many pay tv providers allow streaming on the devices this is the first deal to allow media company content like disney movies. plus the battle over the ad skipping dvr hopper that has been resolved. that allow louse them to fast northward shows through disney shows. they agreed to disable hopper first three days after show appears. that is rates advertisers pay for commercials. in return disney dropped the lawsuit against dish. check out how both stocks are doing right now.
2:00 pm
we can show you both are inching upward doing very well. terms of this deal do were not disclosed and we do not have a start date. cheryl: jo ling kent, thanks, jo. good to see you. adam: melissa francis is here to take us through the next hour of "money." hey, melissa. melissa: we are tied into the current crisis in ukraine and we'll hear what is going on lynch on the ground and a former ambassador to ukraine. plus we have exclusive with the brilliant michelle girard, one of my favorites. the "wall street throwdown" is whether radioshack will live or die. you've been very hot on twitter. tune in and get ready for the ride because even when they say it's not it is always about money. melissa: the markets are the big story. ii want to go to straight to andrew keane on the cme. i've been following you on twitter. you made great calls. what do you think happens the rest of the day here? >> i
171 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on