tv After the Bell FOX Business March 7, 2014 4:00pm-5:01pm EST
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10-year treasury rate. [closing bell ringing] that is up significantly today. we'll keep an eye on that as well. liz: here it goes. the bells with the market close. clinging to a gain on wall street. we'll see how stocks. dow jones finally showing life in last couple minutes up 29 points. russellthousand, down is .25 points. nasdaq struggle didded all day long. -- russell 2000. more headlines out of ukraine, dade. david: let's get you through the front page headlines. first of all today's jobs report caught investors by surprise, a bigger than expected gain of non-farm payrolls. the economy created 175,000 new jobs. higher than expected. unemployment ticked up slightly to 6.7%. liz: u.s. trade gap widen a bit in january expanding .3 of a percent. economists suggest that consumers continue to spend
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cautiously. david: new signs of friction inside the world's largest bond fund firm pimco. founder bill gross accused depart being ceo mohammed el-erian by trying to undermined him by talking to "the wall street journal" about tensions inside the firm. liz: apple maintained lead over rival samsung in u.s. smartphone market. apple share 41.6%, while samsung, again in the u.s. had 26%. david: visa, mastercard, the world's two largest payment networks start ad group to improve security at their systems. this follows a number of high-profile data breaches including one at target in the holiday shopping season. liz: boeing rival airbus planning to build the popular a 380 jet in the u.s. in mobile, alabama. the facility will make as many as eight aircraft each month. "after the bell" taking flight right now.
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david: let's brake down all of today's market action. march lipinski, american international investments. optimistic on the economy and market. while there may be volatility he says the markets will end higher chris recognize lesh, needham growth fund. the biggest problem is the fed easy money poll. scott bauer from the pits of cme. scott, i want to start with you. it is funny the job figure didn't make that much move either way. we had two up, two down as far as indexes are concerned. there is repositioning going on in the marketplace. i'm noticing and i notice you are too money flowing into financials right now. why and from where is that money flowing? >> a couple reasons. money is coming out of utilities and health care sector. if you look financials year t date it actually lagged a little
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bit. they have really lagged now, we're seeing especially that 10-year we saw today really, you know, starting to pop back up. you know what? that is a way for these financials, the banks to earn money the old-fashioned way. as rates go higher that is another piece of the puzzle to add to their bottom line. xlf, the et fsec tore, that's looking great. some big financials like goldman sachs and morgan stanley, they're looking really strong here. liz: the financial really help a rally. without them it is tough to see stocks take on running speed. >> absolutely. liz: let me bring mark into the discussion. you're the non-u.s. chief investment officer in your company and that leads us all going on in eastern europe doesn't seem to shake our markets. at some point will it? does it affect your investment picture at all? >> no, it doesn't affect our investment picture at all. ukraine is very small as far as
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the global picture. europe continues to improve and come out of its slump. don't forget europe is 18 to 24 months behind the u.s. as we see turn around in u.s. economy we're starting to see that happen in europe. david: chris, took us three questions to get to the fed but i will go there. how do you think the fed will react to today's jobs number? >> the fed will still remain accommodative. they don't have much choice. we're in a slow growth economy. the number might have beat some expectations on the street but it is still not a high growth situation. so they have room to continue their policies. david: so another 10 billion a month tapeer? >> i think they can. they may examine whether they modify mortgages or treasurys but they will remain accommodative. they don't have much of a choice. liz: people are still looking for yield. i'm wondering, scott, where do they find exciting yield, not 1 1/2% or 2% 10-year yield but where do you look, where do you see this really perking up?
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>> again that is another reason, that is another reason money is still coming into the marketplace. even though you see 10-year bond yields rising, historically you're not getting anything. there is still such an inflow of money coming in and quite frankly there is still so much money on the sidelines. last year i think there were, at the end of the year there were record, record outflows from commodity fund and that is still on the sidelines. that's why you're seeing that helped propel the market as well. it is not just magic that these stocks are continuing to go up. that is a big component. liz: we don't want to goo too focused on the u.s. mark, les we think only way to go is somewhere here you have a whole host of companies that have jumped unbelievably high. for example, one of your picks, up 600% over the past year but we should put in caveat emptor, be careful, these are little risky? >> you may say they're a little
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risky but they're part of the new economy and the new economy what i think is really driving the world. vip shop which is really a secondary retailer where you're able to off-load your your overstocked inventory in china, is just really chinning. it will continue to win. don't forget the fed and the world is focused on disinflation nary force of the within the global economy coming out. internet and these are players. david: guys, i have to break in with breaking news. this may affect the interest of bowing investors. as if they didn't have enough trouble with dreamliners. the 787 dreamliner jets are being inexpected for cracks. 42 undelivered 787 dreamliners are being inspected for cracks in the wings. dreamliner inspections delayed some deliveries.
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they were notified in february by mitsubishi he have heavy industry of the defects. full year 2014 and delivery guidance sun changed. so it will not affect what they were expecting to deliver or time it was delivered but it has held back initially some of those deliveries. watch for changes in boeing stock. i want to go back to chris if i could on this news. do you think that will affect the company? >> they're in a secular growth story here. this is a long-term investment for investors. if there is any major pullback it's a buying opportunity. liz: a buying opportunity, this brings mark again because you look at foreign companies out there, airbus a big competitor. we talked about that, does that become a little more attractive? >> i think they're all in secular growth markets here. you're seeing airlines expand globally and there is still a lot of demand for airplanes and you will not see that change. david: scott, do you think that
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the market is just getting up to where the economy is or is it still a little bit frothy ahead of the economy now? >> bell i look at it the other way around. i think maybe the economy is now catching up to where the market is and if we continue to see reports like this morning to see encouraging signs. that will be basis for market rising up. david: if the market is forward indicator, economy is just catching up to it, maybe the market will lag a little as the economy catches up? >> no. i still think there is so much money on the sidelines. the fed easing is not really going to affect the easy money that's out there. borrowing power is still so great. and all of that combined together, that is going to keep this market, i'm not saying where it is but that is putting a floor in for the market like we've seen, last five, six,
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seven times, we've seen 3 to 5% pullbacks. liz: three to 5% pullbacks. let's look forward. three to six months out. chris, tell me what you might think is real opportunity here especially if we have gyration, see a correction of six to 9% or 10%? >> we just got through a period of terrible weather across the country and the market's held in there so we think that what business might have been missed in these first couple months could be pushed out to later in the year, second half and that's great for breath. we still like -- great for growth. we like healthcare names. we like technology. intel has a new chip out which is driving a spend in the enterprise. so there is lot of excitement in that area i think will play out. we also have an election year for the midterm elections and we now have a government that has allowed us to like themselves spend whatever they want this year. that is good for companies. and you know, you better order equipment now before they put a
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cap on it next year. david: mark, other than the fed, isn't it kind of nice politics is in the background now and that the market is just focused on economic activity? >> there is so much in the economy that to step back and step way below trend line during the crisis and we're just now starting to ease back toward trend line. think i there are a lot of positives globally not just in the u.s. but in europe also. david: good stuff. mark and chris, have a great weekend. scott bauer, we're not done with you. we'll see more with stock coming up in a couple minutes when the s&p futures close. liz: as the song goes, blame it on the rain. investors pointing the finger at bad weather for recent weak economic news but are they giving economy too much after pass? we'll talk with russ koesterich in a fox business exclusive on just that issue. david: such a smart guy. you want to listen in. biotech industry is on fire with
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biotech etfs up double digits far outpacing. markets. has biotech gotten ahead of itself. one. top analysts on the street tells us know you can still get in on the sector. you want to listen. his last buy call is up more than 1600%. liz: and drones, drones, everywhere. a new ruling could mean these will be over the skies near you and those skies might be getting a little more crowded. david: wow. liz: you have to hear details on this straight ahead. ♪ ♪
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[ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. but with less ergy, moodiness, wii had to do something.pp. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18
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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 david: seaworld entertainment falling into the red closing down nearly 6%. liz: we need to head back to nicole petallides. she is on the floor of the new york stock exchange. did you get more on this? >> we're taking a look at seaworld today. we had a market that was great, hit record, hovered around unchanged line, but seaworld enterprise, down five 1/2%. lawmakers in california are looking closer at seaworld. of course you remember the big documentary, "blackfish", which focused on working with whales in captivity. that has been focus. assemblymen have been watching this very closely. if it gains more attention, that is not good attention. they want other kind of attention, not this kind of attention to talk about orca
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whales and other marine animals in captivity. with that kind of public relations happening, that puts the stock under some pressure. interesting, liz and dave. i read on a blog about steve irwin. you remember he passed stung by a stingray. his daughter bindi a teenager, catching a lot of heat from peta and others from participation with the company. she is trying to have kids aware of marine life. she is taking a lot of heat for joining them. david: we wish the family very well. thank you, nicole. have a good weekend. >> we have s&p futures closing. let's head back to scott bauer still in the pits of the cme. scott? >> i will try to get out of here as quickly as these guys. they couldn't wait for the bell to ring. seems like 50-degree day we've had. they're out to the favorite sushi bar. everyone was pretty flat. pretty quiet to the close.
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not major positions one way or the other. we'll start up next week. liz: good to see you, scott. have a good weekend. david: in david versus goliath battle a judge threw out a find by the faa against a commercial drone operator. he ruled the faa ban on the drones is not enforceable. who will be benefit from the decision? liz: we put jo ling kent on the story. we love the drone story. it is like the game of drones. >> drones are federally legal. the faa in the last hour fighting back. the national transportation safety board administrative judge patrick guarranty dismissed only existing fine against drone users saying there is no binding law banning use of commercial drone drones. it was 10,000-dollar fine against a swiss drone operator filming over university of virginia. the faa tells fox business they will appeal that decision saying that the agency is concerned
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this decision could impact safe operation of the national airspace system and safety and people of property on the ground, unquote. this comes after the faa announced plans to propose a new rule with binding authority, going to come out in november. here are some companies we're looking at that either manufacture drones or make technology used in them. we're looking at aerovironment, lockheed martin, northrop grumman, they make parts. textron and of course amazon, rumored to be developing drones, maybe launch those soon. liz and dave, i talk to analysts about the topic throughout the day. they kept reiterating this is very short window until they get more restrictive rules from the faa don't expect a swarm of drones hitting skies back to you. david: let me ask a question. the ntsb judge, who does he expect the skies to be regulated if not by the faa? >> this was specifically about the fine. there was no specific answer to that particular question. but given this ruling, the drones are still subject to
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ruling by the state laws, tort laws and also city ordinances. this will not be a free-for-all, dave. liz: like remote-controlled airplane, little toys and things? >> i don't want flying around in helicopter or small plane with drones around. thank you, jo. biotech has been on a tear this year, up double digits. we have one of the most highly rated biotech analysts on the planet according to "the wall street journal" we'll find out which companies he likes right now. liz: airline and congress there is a push for more transparency in ticket prices to expose just how much you the traveler are really paying in taxes and fees. just nickel and dime you. will the idea take off? we'll take to it d.c. to find out. ♪
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liz: time for a quick speed read of some of the day's other headlines. five stories one minute. let's go. global initial public offerings have soared 70% to a combined $28 billion to far this year. according to thomson reuters ipo activity is driven by the u.s. where totals $7.6 billion sips january 1st. sony signs a deal to sell the former headquarters in a nearby building in tokyo for $760 million. as the tech giant restructures its business which include cutting 5000 jobs worldwide. average tax refund up 3% from one year ago. the irs paid out 48 million
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refund at an average of $3034 per return. hewlett-packard launches an eight-inch android tablet for 110 bucks in the new device available for purchase on the company's website. new york city venture capital investments topped one billion dollars so far this year. the city is on track to post its best quarter in it history 98 companies raising $1.3 billion. [buzzer] that is speed read, david. david: biotech on a tear. compared to 1.5% gain for the s&p this year. this rapid rise in biotech. talking about overvaluation. is there more room to run and if so how should you play it? joining us is piper jaffray's senior biotech analyst and managing director and number two ranked analyst in the whole sector, according to "the wall street journal." good to see you, ted. >> thanks. david: just a very basic question i wondered about.
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what is the different between biotech and pharmaceuticals? >> the biotech industry got started with development of protein therapeutics and large molecules where pharmaceuticals are traditionally small molecules and chemicals and oral drugs. david: could i spin a on it? basically what you're saying biotech changes who you are whereas pharmaceuticals sort of go after the bad guys if you have a disease? >> that is one way to put it. david: okay. the big question now, we've seen this incredible run-up because there is lot of expectation about this sector, has it run up too far? >> we get asked all the time are we in a biotech bubble? i think investors are getting a little bit jumpy now. celgene was down $6. regeneron was down -- david: today was not good day for biotech. >> only closed down $10 at the close. i think investors are jumping first, asking questions now or
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asking questions later because of this run-up. we have seen multiples increase and i think there is risk for near term contraction. i think what is so attractive and what really attracted so many investors to the biotech space is this fantastic growth. and you look at the sustainability of growth in the big cap biotechs which is really driven innovation. david: growth based on products. not growth based on speculation? >> absolutely. that growth is coming up from bottom up innovation. david: let's go to your picks. i like it, you have a big cap and a small cap. go to the big cap first. regeneron, what is it and why do you like it. >> absolutely. regeneron launched a new drug for age related macular degeneration which is ocular drug. it has done fantastically well. the stock is up 20 fold. david: ocular meaning what? >> injectible drug for the eye? david: for glaucoma, things like
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that. >> age related macular degeneration the leading cause of loss of vision for elderly. their guidance is 1.to 1.billion dollars. we're seeing label expansion into new areas like diabetic blindness. david: they have all the patents? you don't have to worry about that. >> patents are in fantastic shape. that is one thing really attractive by the biotech space and these kind of drugs. they're partnered with bayer overseas. this is revery, very lucrative partnership. for example, bayer did $200 million in sales. ilia will be 2 billion-dollar drug overseas. drop 6 to $700 million. david: partnership with bayer takes me back to the original question. i wonder if the big pharmas don't come in and say, hey, i can do that? >> m&a is always a foundation to
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valuation in the biotech space. david: that could rise both boats, both boats of big pharma that is get involved and smaller biogen companies? >> absolutely. we're seeing big pharma buy innovation to perpetuate its growth. david: okay. small caps, because we like sometimes these small caps. a little more risk if you're interested in investing in small caps and people can manipulate. how do you pronounce it novo vacs. >> novavax. david: why do you like it. >> it is a next generation vaccine company. today you get your flu vaccine every year. it is very cumbersome product. they have to inject eggs to grow these vaccines. what novavax is doing modern biotech techniques to grow these much faster, much cheaper. what is really exciting, they have a contract with the government to develop seasonal and in case of the worst, a pan them dick flu vaccine but they have also got a respiratory
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vaccine or rsv vaccine. this is actually number one cause of hospitalization in babies under the age of six because their immune systems are not mature yet and it is also a leading cause of hospitalization in the elderly. so when the elderly go in when they think they have flu half the time it is actually rsv. novavax is innovative and disruptive vaccine. a lot of vac seep players are big pharmas. david: they're giving me wrap. big question on vaccines. a lot of people worry about mercury and substance to put in to save it, give it longer shelf life. is that a concern. >> these are adjuven it give them shelf life. mercury isn't the best but they're coming up with lot safer vaccines and even the vaccines are lot cheaper. david: ted, thanks for coming in. you have a great track record. we appreciate you coming on. liz: those are exactly people we need to hear from on this show.
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thanks, david. stocks hovering near all-time highs as the u.s. gained 115,000 jobs last month. is this better than expected report a sign that the recent weak economic data we're just really due to winter weather? russ koesterich, blackrock global chief investment strategist joins us to answer that and so much more. where is he putting his money in a fox business exclusive. a new report says diners are expected to spend less eating out this year. coming up what is a chef to do? we have the winner of "top chef"'s first season and owner of three superhot new york city restaurants. how will he and the industry digest another year of potential heartburn? what do you think? do you plan to spend less eating out at restaurants this year? tweet us at fbnatf we'll be back to sink our death into this story. ♪ there's this kid.
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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.
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i ke prilosec otc each morni for my frzero heartburn.n. becat wohoo! [ male announcer ] prilosec otc is the number one doctor recommended frequent heartburn medicine for 8 straight years. one pill each morning. 24 hours. zero heartburn. david: a dubious anniversary. this sunday marking the fifth year anniversary of the bear market low on march 9th, twine. the s&p closed look at this, looks like a mistake, 676.53. since then it is up more than 177%. some major companies have seen dramatic price changes since then. apple was trading at $83 that day. today closing around $527. that is up more than 530%. google, closing that day at
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$290. people thought it was overpriced back then. now it is 1200. in the financial sector, goldman sachs was trading at 73 bucks. it is now $173, up more than 135%. boeing, we just talked about it, seeing the stock go from $31 a share up to nearly $130 a share and that is with cracks in the wings. so everybody is doing pretty well, liz. liz: there are a million of those. look at starbucks and harl man audio. so many of these names. stocks gave up if you go day by day most of the earlier gains after initial jump sparked by february's better than expected jobs report. david: does this support that the weak economic numbers are a temporary stumble or will this force bulls to shift their outlook? fox business exclusive, one ever our favorites, ross koesterich, blackrock chief global strategist.
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russ, great to have you on, we appreciate it. we have come 177 points or 77% in five years. the question i asked at the beginning of the show, is the market getting ahead of where the economy is right now? >> it has been a huge run, dave. i think the good news is when we started this run valuations were dirt cheap so there was a lot of running room. right now we think stocks can still go higher but the gains will be a lot more muted and the reason is while the fundamentals are good a lot of good news is discounted into the price and obviously today stocks are trading much higher evaluations than the case five years ago. liz: guide us, when we're all deciding what to do for more than a year we've had a lot people come on to say the sky is about to fall. it has not. in fact the market has gone higher and higher with a few bumps and bruises but no fractures, right? where do you stand what we see in the next half a year?
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>> i think the next half a year we actually have a fairly decent environment for stocks and other risky assets. let's go through the key things, liz. first of all the economy is likely to get stronger. doesn't mean we're going back to boom times. we do think we'll see some acceleration of growth from the 2% pace from the last few years. inflation likely to stay low, also good news for stocks. finally when we think interest rates will back up a bit, interest rates are also staying relatively low compared to the long-term average. so you've got low rates, low inflation, modestly better growth. that is a pretty decent environment for stocks even if valuations are more expensive. david: we just talked about biotech. that had unbelievable, bigger run-up than the overall s&p recently but let me some game changing sectors if i can for you, some things that people say are really going to take off next couple years. biotech, social media, robotics, we heard a lot about that today. energy of course with the
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fracking and everything. electric cars, any of those sectors jump out at you as being undervalued right now? >> well that's funny you name ad lot of momentum sectors. some of them make we a bit nervous, particularly social media. energy is the one i think it is undervalued. ironically despite a surge in u.s. energy production, it is worth pointing out last year u.s. oil production rose at the fastest pace since records began in the 11th century. this is very undervalued sector. that is one place i would be putting money. david: where specifically? >> i think a couple places. depend what you're looking to do. income oriented, conservative investors, some big integrated oil companies are not only cheap but offer very good dividend yield. for investors with more growth, many oil service companies, again selling the equipment to all of the e&p companies that are fracking and looking for new gas and oil, they're also
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well-positioned to take advantage of this energy revolution. liz: are you believer in manufacturing in the u.s.? obviously the energy sector is part of that but everybody talks it down. people who are naysayers about this economy says the u.s. lost its edge. i disagree. i look at our auto industry. it has come back. general motors has interesting products. ford is killing it. it is fascinating to see the two sides of levers here. >> manufacturing is another interesting place. liz, you bring up the energy thing, that is key. cheap natural gas is a huge competitive advantage for many manufacturers in the u.s. petrochemicals, fertilizers, plastics. these are all industries where energy is the big input cost. if nat-gas is 5 or $6 in the u.s., it is three or four times as much in europe or asia, that gives our companies a big advantage over their international competitors. david: emerging markets, we've been hearing a lot about them in relation to what is happening in
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ukraine. >> tough question. david: where are they going? is it possible to pick up some bargains here? >> i think it is possible to pick up some bargains. for example we see good bargains in emerging market hard currency debt. these are bond issued out of emerging market countries but denominated in dollars. on the equity side there are some bar against and also some value traps. david: what do you mean by value traps? >> there are companies and there are country that is are cheap for a reason. in other words, there are some bargains in e-m, but overall e-m will be volatile asset class, many countries unfortunately did not take time to restructure when types were good and they will go over a volume tie period in next six to 2007 months. liz: russ, lovely to see you. he was back with us in the day when things were rough-and-tumble. we've been through a lot here. thanks for sticking with us. david: for the next five years, russ. thank you very much. the fight for transparency in the cost of an airline ticket
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is escalating. coming up we tell you about a big push to show you exactly what you are paying for with your ticket. liz: plus we heard a lost speeches from federal reserve officials who have gotten particularly talking over the past year. which fed member is worth listening to the most? so what we've got is results of a new study showing which one of these people had the biggest impact on the bond market in 2013 every time they gave a speech. ♪ she loves a lot of the same things you do.
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to get the job done. iwe 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 [ telephone rings ] [ shirley ] edwa jones. this is shirley eaking. how may i help you? oh hey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investors... [ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great.
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[ male announcer ] and we do. it's how edward jones makes sense of investing. ♪ liz: the federal reserve is known for moving markets, right? for the past year investors listen intently to every word about tapering, interest rates, unhe employment. a study by macro advisors analyzed which fed officials remarks had most impact on the 10-year treasury yield. surprisingly the fed official who had the big it impact on the bond market was not ben bernanke, the chairman. the so-called i move the markets prize was awarded to, st. louis fed president james bullard in 2013. he gave 22 speeches and move the 10-year treasury by a cumulative 29 basis points. bernanke did win the award pour biggest impact per speech however. on average his fed speak moved
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the bond market. 4.2 basis points. they're all getting very chatty lately giving speeches. in the meantime americans are just trying to make it in a tough economic condition, right? turns out many people as they watch their wallets are eating out less often. a new study find consumers plan to spend just over 9% less than, at least every restaurant meal in 2014. this is bad news perhaps for restaurants that have already taken a hit from the harsh winter weather and above average snowfall. so is the restaurant industry in trouble? let's get it straight from the who are's mouth. haired, do you know that name, the winner of bravo's first season of ""top chef"." you own three new york city restaurants. >> nice to see you. liz: what is the foot traffic like? >> it is tougher now. guests don't want to jump out into the harsh winter nights. we want the act to create and
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think of ways to get folks in the door. liz: you know what you're doing. 10 years ago you won the first season and you opened three restaurants. >> yep. liz: how are they doing specifically? are you above water? >> yeah, absolutely. i think, especially talking to a lot of my colleagues we definitely had a rough january. as it is it is generally down 10%. basically people as is kind of watching their wallets after the holiday season. kind of mix that in with the weather. it has been challenging for sure. restaurant week was great. we had valentine's day and warmer weather is on the day. liz: this is the end of new york restaurant week. >> yeah. liz: did you see increased foot traffic for that? >> yeah. liz: what did you offer to get people inside? >> we did three-course price firsted at $38 for all three restaurants. great opportunity to get guests in there and keep restaurants busy. liz: you have a huge challenge, harold, a, grab people away from other restaurants because they're being very choosy and get them to spend more per
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ticket. how do you do that? >> you want to find the happy medium after having high volume and having good cash flow. when you write a menu you want dishes a little bit on lower range. that is really great for food costs but you need to have cash flow going and you want people to buy the steak as well. liz: why do you think people are growing increasingly frugal when going out? >> i don't think if that applies as much to new york city as rest of the country. here in new york, folks are still hitting the restaurant scene. i think specifically kitchen space in manhattan real estate in homes is little tight than it might be in the rest of the country but i feel like new york's in a good spot for the restaurant business. liz: you were smart with your restaurant kin shop which is thy based, correct? >> yep. liz: online business and orderlying, delivery has been pretty brisk. >> yeah, it is great. liz: would you transfer that over to marrow and parila? >> one of those things you do
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lose a little bit in the presentation aspect of the food. obviously when coming in a take yacht container it doesn't look as sexy as it does on the plate. liz: by the tile it arrives we're starving. >> we're all starving. i order take-out food all the time as well. i don't think. i think it is great for kin shop model and food really transports well. other restaurants i don't see us doing it yet. liz: in 2012 we were still pretty tentative coming out of recession. you opened a restaurant called marrow. >> right after hurricane sandy as well. it was, yeah it was crazy. liz: you got amazing reviews and struck me because my mother, her father was a romanian butch every. >> oh, wow. liz: she used to chew chicken bones, marrow that is bizarre. that was my household. people, are they gutsy when they come -- >> people are about bone marrow at marrow. definitely highest selling dish
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on menu. people are definitely open to trying new things when it is prepared, you know, it is a trust thing. they have been to the other restaurants and they come in. liz: you have a lot of headwind when it comes to being relatively small business. obamacare, you got to pay full-time employees health care. >> yeah. liz: does that change the way you view hiring? >> not really. i think, you know, it is one of those things where we just have to, we have to figure out how to be creative and just make it work. it is, everybody, everybody needs to be taken care of. liz: way you love your employees more they love you back? >> exactly. exactly. liz: we have to stop by the marrow, david, chewing on marrow thing. david: doing it for years. liz: harold, love to see you. the "top chef" season one winner and owner of three restaurants in new york city. visit one of them, or all three. >> thanks very much, liz. liz: david, back to you. david: best part of eating chicken, bite off end of the bones. it is terrific. we all know airlines are
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adding more fees to the ticket but should travelers have the right to know how much the extra costs are costing you? we'll tell you about a big new push for transparency. when it comes to crowded events like mardi gras, the idea of using public restrooms might be a little daunting. but don't despair. we have a solution for that coming straight ahead. ♪ (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates. a short word that's a tall order.
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liz: you heard this before, when it sound too good to be now true, probably is. couldn't be more true when it comes to airline prices. many times low fares on commercial airlines they don't include high taxes and fees you have to pay. david: i've been a sucker to those kind of tickets. a new bill hoping to bring greater transparency to ticket prices. rich edson at reagan national with all the details on this, rich? >> the federal government says when the airline advertises price, they have to put the whole price, taxes and fees f the flight costs $484, that is the advertised flight even though the flight may cost $462 with taxes and fees. the federal
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advertised price has to be $484. what congress wants to do, at least a bipartisan group of lawmakers allow a break down, almost like hotel bill where the airline advertises the $462 and break out government excise taxes and security fees and facility fees. oh by the way they could be increasing as president obama in his budget wants increase to pay for infrastructure improvements. what congress is looking to let the airline advertise the fare and break everything else out affidavit war almost like any other product. >> unlike a hotel room or a car rent it will or any other consumer product they get to show the price of actual product and taxes on top of that. the administration did, changed the law in 20102012. i believe to lied the taxes. >> now the government says the current system works just fine. the department of transportation, an official there, says in a statement, quote, the department's full fare advertising rule insures
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consume remembers not misled regarding total cost of air transportation. consumers consistently occurred, advertised prices below the cost of travel breeds confusion. if the bill makes it through congress, president obama would have to sign it into law. if he signed it into law he would effective sign into a law a law that overturns one of his regulations. seems unlikely. david: i'm training into d.c. not flying. >> that is the way to go. david: exactly. liz: walmart introduced the cost of a big-rig made out carbon fiber called wave. the new truck doesn't look like typical big-rig. it is 53-foot-long carbon panels and sliding doors and front is rounded. the waves' aerodynamic shape and electric motor could lead to serious savings for the company in the foot if it the company makes it on the road.
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walmart says the wave may never hit the streets but he is confident the concept model will help the company testing out new technologies, i love that. also "off the desk," a new app can take to you porcelain paradise. air p and p lets you find the nearest to let in your area for rent, based on holiday web site for air b and b for bred and breakfast. it serves a conduit for those that need relief and bathroom owners needing money. it has cleanliness, type of toilet paper. cost ranging from free to $10 depending on nature of your visit. we're into making money. we have to talk about these things. so far number of listed toilets is greatest in europe and new orleans where the app was tested during mardi gras. one can only imagine. maybe one couldn't imagine. liz: number one thing to watch this week will be crisis in ukraine.
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investors keep a close eye on developments in the region over the weekend and any potential worries of a full-scale invasion that could put a halt to the market momentum. david: coming up cheryl casone filling in for gerri willis. we'll see you next week [ male announcer ] we know they're out there.
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cheryl: hello, i'm cheryl casone. right now on "the willis report", happy birthday. five full years of this bull market but what do we need to do to celebrate six? also twitter cracks down on porn but plenty of nude did i is still ad lou. a new class of travelers. maybe you're one. a hot commodity for airlines. those stories and a lot more coming up on "the willis report." cheryl: so obamacare is flat lining with the
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