housing industry data turned softer, long-term trend are intact. [closing bell ringing] dow closing for 2014. the bell rings. david: thank you very much. as we hear the closing bell on 2014. and folks, as i said there is no sentiment in the market. we were hoping for 18,000. ended new year with that. it is not going to happen. we had a significant downfall at end of the day. it was negative most of the day. didn't start to drop precipitously until the last hour of trading. all the indices are in the red, none more than s&p which had another stellar year, up more than 10% for the year. today down a full percentage point. the dow jones not white as bad percentage wise. but 159-point drop. about the same for nasdaq percentage wise. russell 2000 down significantly. we have a packed show. a lot of predictions and looks back to 2014. looking ahead to 2015. "after the bell" starts right now.

david: as the year comes to a close let's take a look how the major indices ended 2014. it was green all around. dow gaining about 7 1/2%. crossing the 18,000 mark for the first time. the s&p, well that was up in another 11%. god, the 30 straight year of double-digit gains. the nasdaq, the biggest gainer up more than 13%. russell 2000, small and mid-size caps up 3.6%. cheryl: it was a sea of red for the commodities markets. what a difference a year makes. talking to lori, crude ending the year at five-year low. nat-gas seeing a step drop, down 32%. on metal side, silver got really killed. silver and copper posting double-digit losses. sold down not more than 1 1/2%. david: bad year for bond.

those betting on them got a lot of money. 10-year yield ending year at 2.17%. all the economists said interest rates were going up. they were 3% as we ended last year. they are down from that, we should also mention by the way, dow jones transportation index. cheryl: dow jones utilities index both hitting lifetime highs this year. with the year over what can we look forward to in the new year? let's bring in our market panel. yu-dee change, sees the market higher in 2015. michael cue chino worried about rising interest rates impact market and todd horowitz from the cme. you're loving the tape but you don't have bullish sentiment when you see the markets. why? >> happy new year, cheryl and david. when economies are built out of jell-o and we have no real

foundation and the growth that we're seeing is all artificially induced by the federal reserve, and when the average joe can't borrow money from the bank because they don't have enough credit and we're not seeing liquidity for everybody, to me that's a real concern. now look, i have not fighting the tape but my long-term account but as short-term trader i'm looking to get short this market. today's action didn't mean anything. volume 30% worth of normal volume, volatility spiked. i'm looking for 2015 to be a lot more volatile than 2014. we have to at some point figure out a way to see some real growth where we actually can raise interest rates because without it, the economy is not going to really survive other than wall street. you also look at, you talked about commodities, the overall strength of the dollar,. dollar five-year highs, which brings the reason why commodities are so low. so there is a whole bunch of things that don't make sense. david: okay. >> i don't think we have great foundation to this market.

david: i don't know if it makes sense but crude did he, look at the record. 2012 the s&p up 10%. 2013 up 30% rise. in 2014 a 12% rise. that's 50% in just three years. can it continue? >> yeah, i think so. don't forget i do see some real growth. the economy is stablizing. david: hold on. yu-dee, not 50%, nowhere near 50%. we've been growing about 2 to 3% a year. how does that justify a 50% gain over three years? >> correct. you don't forget 2010 where the market was down a lot. you're basically playing numbers games. david: no, no. i'm not playing, i'm talking about from 2012 the re-election of president obama, a lot of people by the way thought that would lead market down. i'm not talking from the lowest point. i'm talking from a pretty high point. >> talking from a high point the market i think will continue to grow.

there is actually even more. like i said there are real earnings growth supporting this market. don't forget a lot of it is money flow. there is no other place for money to go at this stage of time right? exactly. so especially on the professional front, a lot of professionals we're getting paid to make money somehow, somewhere. if there is no place to go, the market is the place to go. cheryl: michael, u.s. seems to be more attractive play, the best play if you will considering global markets have a lot of pressure particularly with regard to western europe. will that be same story for 2015? do you think u.s. is place to be? >> appears that way into the new year. you have slowing recessionary economies in parts of europe, russia, central america, south america, parts of asia. or at least anemically growing japan is also a problem. u.s. we're growing anemically.

annualized gdp first three quarters is 2 1/2%. we're growing despite all the headwind in front of us. that is better than rest of the world. going into the new year seems likely that will continue. always different cut to predict out anything going forward. so i think it's a food start. we'll see where it goes. david: todd horowitz, i know you think the market is in a fed bubble right now, or fed-induced bubble, if that is the case, i'm saying it is, you do, but i'm not saying it is, if it is in a bubble is 2015 the year that bubble pops? >> you can never predict the pop. the hardest thing about being a trader is trying to time the market. you really can't time the market. as long as we continue -- listen, the fed is involved. as long as they keep pushing it as yu-dee said there is no place to go. but there will be a point in time there will be a drastic change in the market and will probably be some world event that will create selling that the buyers won't come in. will the bubble pop in '15? i really can't say for sure.

if it does i will be ready to go because i have my finger on the trigger ready to get really short here if we do see some reason. right now i can't predict it will pop. cheryl: todd, we will cheer you up. i work on that in 2015. >> i'm happy. i'm happy. >> i will try to cheer him up a little bit. i will try a little bit. i don't know if we're in a bubble. there is solid earnings growth and market multiples are fair, maybe slightly rich in some parts but fair broadly speaking. as long as the fed stays benign. if market interest rates don't get volatile and rates hold up later into the lower energy prices and improving employment and consumer spending, you have remnants for continued economic growth that would propel p-e multiples going forward. i quibble a little bit about the one story. certainly fed money added quite a bit to financial assets i

wouldn't disagree with that but there are some real underpinnings in the stock market now. >> where? cheryl: yu-dee, one of the things you like for 2015 is financials. but with the fedex iting with stimulus, losses behind these financial ups a, what were are you locking at with that -- >> you head you win, tails you win. it has done pretty well unlow interest rate environment. they have gotten of stronger on the books. costs are less because of so-called foreclosure costs and business activities are picking up a little bit. if we stay in the so-called low interest rate environment i think they will continue to do well but as i said, if the fed were to raise rates in 2015 then their profit march punishly for financials is going to go up and thus making more money. either way i like the financials. david: yu-dee, here's the problem, and i know you have your eye on the whole global economy and not just the u.s., if all that is right, if

everything works out properly in the united states, the rest of the world is not growing. we have got severe props in europe. we may have a default in greece that could lead to problems with the euro. who knows what is going to happen in china. are the u.s. shoulders big enough to carry the world? >> that is exactly the question, dave. you hit it on the head right there. basically the rest of the world, next year the gdp in the u.s. is expected to grow 2 1/2, 3% of the entire world is expected to grow 2 1/2, 3%. but that is not counting, that is including so-called emerging markets. if you look at other major economies like you were saying japan, pretty much at zero. david: emerging market, yu-dee we know that emerging markets are going to do terribly because a lot of them borrowed dollars. they're paying back in their undervalued and continuing undervalued currencies. a lot of those underdeveloped economies may to broke. they may default. >> yeah, but david, i think

terribly is relative term. people have been doubting china forever, six 1/2%. they didn't hold 7 1/2. six 1/2 is pretty good. david: venezuela is not china. i'm talking about countries like venezuela and greece. those things will go broke. >> their economy is not as big as china or u.s. or rest of europe for that matter. cheryl: michael what is your biggest concern? what is keeping you up at night when you look ahead tippiest fifth. >> interest rates. market interest rates and volatility. the fed is somewhat in a box in the united states. to the extent inflation remains low and growth remains anemic there is a limit how fast and how high they can raise short-term interest rates but they can probably do a little and may do a little going forward. if they raise 25, 50 basis points, even 1% federal funds rate i would argue so what. i don't think they will be able to go much beyond that. the rest of the world is in an

easing phase. you have this discrepancy between central bank activity, rest of the world and us and i do think the strong dollar and our higher interest rates will put a hurt on emerging markets so i would agree with david there. i think interest rates are sort of the straw that mixes the rest of the drink so to speak in 2015 to the extent they're benign, that's positive. to the extent they're volatile i think it creates a lot of other dominoes to fall. david: todd, one year ago the 10-year interest rate was 3%. i went back and looked a lot of predictions. year ago people say it has to go up. one hupp% of all economists polled by "the wall street journal" said interest rates would go up in 2014. of course, look what happened. we all know they went down. who can trust any prediction with regard to the interest rates now right? can you make any bet on interest rates right now? >> you know you really can't because the interest rates it is

manipulated product right now. it is being manipulated by federal reserve. they're keeping their foot on top of it. they're not allowing interest rates to trade freely. we have seen the bond market make many attempts to push interest rates up. every time the fed pushed them back down. interest rates, maybe you don't agree, i think they need to be higher and need to start raising. take this 250% rally we've had since since '09 out for a test spin and let markets do what they do. bring the rest of the world back into play here. david: take the rally out for a test spin. i love that. good stuff. great group. cheryl: todd -- thanks. you guys were all wonderful. thank you so much. yu-dee chang, michael cue chino. -- cuggino. todd horowitz will stick around and lighten up when futures close. david: happy new year, everybody. when it comes to investing turns out older is wiser. no surprise. why younger investors tend to have smaller returns than what

older investors do right. cheryl: natural gas plunged this year, helping many consumers keep their home but that is about to come to an end. are your heating prices coming to an end? david: uh-oh. politicians, ceos and heads of state it is lot harder to calculate who is the winner now and for the long term. that's why we have our all-star panel here to figure out the true winners and losers for 2014. ♪ these ally bank ira cds really do sound like a sure thing, but i'm a bit skeptical of sure things. why's that? look what daddy's got... ahhhhhhhhhh!!!!!

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cheryl: the s&p futures just closed. let's head back to todd horowitz in the pits of the cme. todd? >> well we closed almost at our lows but again today's action, no volume. i think we're going to watch for is the jobs number next, a week from friday, the 9th. probably should be choppy action friday. we may get a little follow-up from here. one thing to look for is the

russell index made what we call key reversal. all-time new high, closed on low of the day. i look for a rally into the jobs number next week. we'll see how it place there. david: todd, on this last day of trading of 2014 thank you for all your help, everything you done for fbn over the year. you did great work my friend. >> thank you for having me. love you guys. see you next year. happy new year. cheryl: appreciate it, todd. with 2014 over let's take a look at some of the best and worst performers on major indices this year. best outperformers all posted double-digit gains. intel soared 40%. united health hit a lifetime high, rallied 34%. home depot up 28% also an all-time high for the year. worst outperformers, ibm down 10%, chevron, we could expect that, 10% and general electric down 10%. david: i was surprised at

general electric. southwest whopping 25%. electronic arts, seeing a gain of 105%. edward life science, worst ormers in the s&p. three energy stocks, as cheryl said no surprise. transocean falling 63%. followed by peabody and danbury. >> i was talking yesterday with you about southwest airlines. i thought they were going to be a star. they already were. increased investment risk doesn't always lead to increased rewards. ask investors under 25 who took the most risks and yielded lowest returns in 2014. that is according to date that was compiled by open folio. david: one of the cofounders of open portfolio is here. thanks for coming in. >> thanks for having me. david: frankly i wasn't that surprised. you expect people to take risks when they're younger. in fact isn't that exactly the time in your life when you can afford to take risky investments an lose but you learn from your mistakes, when you're young, right? >> i think that's right.

what is interesting to us, it makes sense that younger investors took risks and older investors, wiser, more experienced probably do a little bit better. the magnitude older investors did better surprised me. cheryl: we have a chart. i want to show everybody about this. david: wow. cheryl: between 50 and 64,.6% return. 25 to 34, 7.3% returns. it was interesting break down. david: keep that chart up. i want to see that a little more. that is spectacular. wow. >> that magnitude is really surprising. cheryl: go old people. whoo-hoo. >> exactly. we were really surprised to see how poorly younger investors did. look what happened. they took risk in companies like twitter around whole food, single-named stocks as opposed to older counterparts that were really concentrated in fund. they were in diversified fund like the s&p 500 or even reits that were up over 30% this year. those fund really panned out.

longer-term approach really panned out and really hurt the younger generation to be in those stocks. david: they get obsessed with one or two stocks not to be getting too emotional. that is one lesson you learn as you bet a little older in terms of investing. if you get emotional about a particular company or stock you're in trouble because that means as it begins to sink you have emotions instead of brains tied up in its future. >> without a doubt. we tend to remember winners. and forget the laggards. this year the laggards outweighed the winners for the younger generation. cheryl: it is interesting to look at some companies they went for, the younger generation. a lot was social media. twitters of the world or even a whole stood, apple, tesla. those were good names. maybe they went too far. >> a little bit too far and some were not all that bad. apple did great. teslas up 40%. twitter is down 45%. whole food didn't do so well with all the competitors out there is down over ten%. david: when they make these mistakes some people feel burned

by it. and they walk away and never come back or at least don't come back for years later. do you find that to be happening? are they willing to say okay, i made a mistake, now i want to diversify and say in? >> our hope, the issue behind open folio to get an open community to let people guide themselves to better decisions. david: how do you make money off this. >> we'll get to that, another interview. david: but do you do it in advertising or what, just briefly? >> we don't make money yet. our goal really is to build this community. to build community around people's investments, to help them see what they're doing right, what they're doing wrong. cheryl: you're an entrepreneur. david: you're taking a risk right now. >> exactly. that comparison to people in your community helps you feel like you're not getting burned, feel like am i on the right track? am i getting on the right track? am i get paying too high fees? do you like the performance?

you feel encouraged to say hey i'm not investing alone. david: any indication they're learning from this? >> we talk to a lot of users. one of the best pieces of feedback we've gotten, people come in and held a ton of cash and done nothing at the beginning of this past year or year before. hey look, everybody around mae is totally invested. i should at least buy some fund, get invested, that will hurt me over the long run. proves being invested actually really panned out. cheryl: great to see somebody young and your age excited about the market and looking at all of this. very refreshing. david: and all the single female producers in the control room want to know how old are you? >> 31. david: 31 years old. we just had to have that on record. great to see you. congratulations. much success with your project. there have been many big names in the news from heads of state to investors or religious leaders. who were winners and losers? it is a heated debate with a heated panel coming up next. cheryl: hockey fans gearing up

for tomorrow's winter classic in washington d.c. we'll take you live to the stadium for a look at the state of hockey in america. david: open-air hockey, there is nothing better than. that we'll tell you who took the crown for the best performing market in the world, not how think. that's coming up. ♪ [vet] two yearly physicals down.

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cheryl: let's take a look how individual sectors stacked up for the year. the top three performing sectors were utilities, health care and financials. all ral iing. flip side two sectors lower for the year, energy. unfortunately down more than 9%, followed by telecom. there are your sectors, david. it is time for our winners and losers of 2014. we'll get a scoreboard for you here. from politics and business and sports. all of them potentially affecting our lives and investments. let's bring in our panel. we have a all-star panel.

phil flynn, price futures group senior analyst. gary kaltbaum, kaltbaum capital management. and our own cheryl casone to add a little beauty to this panel of ugly guys here. i'm speaking for myself. zane, i want to go to you first. president obama, ceo of the world many would say. i'm not revealing anything. you said this before. you voted for him in 2008. is he a winner or loser for 2014? >> neither. he is a big loser. david: why? >> why? because that office carry the weight of the world. our lack of standing position in the world and our economy just started to turn around. benghazi, iraq, out of iraq, back into iraq. you name it. infringement on business, not letting businesses operate. the laws for the laws for the

laws. david: gary kaltbaum, he did lose the election, he said election would be about him and his policies. a lost democrat didn't want that but that's what he said and he lost. >> well, i'm going to surprise the heck out of you. i think he is a big winner. david: why? >> look i disagree with everything he does from top to bottom but think about this. the democrats lost the election because of barack obama and what does he do next day? he forgets bit, gets everything he wants. get as big budget coming through what the republicans agreed on. immigration, he signs executive order so everything he wants he has gotten of the now he is benefiting from lower oil prices. so his poll numbers are going up. so he wins. david: all right. cheryl, the guy becoming a nemesis in the united states, vladmir putin, head of russia. he annexed crimea but paid a big price in 2014. cheryl: i think at the was a winner in 2014 but don't think he will be a winner in 2015.

for now say staying above the fold and staying in control of the country. he was over there for the global summit. a protesters and lot of anger with vladmir putin. he is friend with our enemies and manages to survive in the country despite the bad economy, phil flynn, look what happened to oil prices and look how that has affected russia and vladmir putin's perspective in russia. >> right. i think vladmir putin wanted to bring back the glory days of the soviet union by taking over some of the old soviet bloc countries. who knew he would bring back preyed lines and unemployment with it? -- bread lines. i think that's where we're at. vladmir putin seems like he was a big winner for a while will be a big loser. there were protests in the streets of moscow the other day. the economy's falling apart. the ruble is falling apart. even the business community that has been very supportive of putin is starting to lose confidence in this guy. david: all right. >> i don't think he lasts

through 2015. david: zane, let's bring in something a little more fun which is the nfl we all love football. roger goodell has had a tumultuous year but he is still there. >> he is is. a big loser. he handled that, all those sex scandal cases improperly. who is there to take his place now? i would say he doesn't make it through '15 as well. what you said about putin. david: okay. gary, goodell, what do you think? >> he is a winner. look the guy makes 40 million a year. commissioner of the nfl. you can't blame him for what some football player did. look he reacted poorly on couple things. now they're doing much better and being much more restrict activity i think he will be winner and be around a long time. >> i want to weigh on good dell. i think he is loser for 2014. i think his reputation has been sullied and doesn't recover in 2015. think this is it for him. david: phil flynn, somebody in business, carl icahn, he has been everywhere.

shorting, going long, interfering with the business of a lot of board of directors. some stockholders are glad he did. he is a winner or loser in 2014? >> depends how you keep score. if you keep score by dollars and sense obviously he is a huge western. a lot of people don't like the way he does business. the question with icahn is, even though he made tremendous at of money, is he good for businesses in the long run. in the short run he lined his pockets, lined pockets of investors. that's a great thing. like for example, his criticism of apple and some of these other companies. sometimes it isn't all about the short-term stock price. it is about the bigger vision sometimes and sometimes i think he misses it but obviously he is a winner. david: we have a lot more to go. we know who helped shape the world but who will be the most influential person in business or politics or both next year? we'll debate that coming next. cheryl: lower natural gas prices

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cheryl: it was a big year for ipos with 273 new companies

debuting raising $85 billion. the top four performers of the year were all in the health care or biotech space and all rallied more than 200%. the top performer of them all? biopharma radius health. 374% gain, david. david: wow. unbelievable. back with our scoreboard of winners and losers for 2014. along with everybody's pick for the most influential person coming up in new year. here with phil flynn, gary kaltbaum, zane tangle and cheryl casone. this was the year of car recalls. a lot of it fell on gm's shoulders and gm ceo mary barra's shoulders. how did she do? cheryl: i think she was loser for 2014 is really? cheryl: she was in the department that overlooked all investigations and this department was frankly covering up the fact that there were ignition switch issues a year ago. she has not handled herself well in front of congress. not gotten in front of the problem. not all her fault but --

david: really tough job. my heart goes out to that woman. zane, the new york city mayor bill de blasio. he has been in the spotlight the past couple weeks ever since he has become mayor, or down for him? >> way down, way down. in less than a year he has been able to divide the city in a way it has never been divided previously and it will not heal too quickly. david: gary on the other side of de blasio, got to talk about new york city cops who i think have done a magnificent job. they just suffered that terrible tragedy. they have been getting heat from all kind of things, unreasonable heat. "new york times" had a lousy editorial yesterday in which they called them, talked about their snarling sense of victim-hood. of course. they had two cops killed in cold blood! >> look "the new york times," i won't even read it anymore. as far as the men an women in uniform they are the greatest. they put their lives on the line for not a lot of money. i have to tell you we're on tv,

i can't use the word i'm thinking of for de blasio. he fanned the flames. that is the biggest problem. i'm not saying he caused it but he fanned the flames. if you're the mayor of a city, you must be behind those people. they do a wonderful job in new york city protecting the constituents. david: they sure do. our hearts -- right now they're doing a lot of good work outside. we can literally see them out of the window. phil, we've leave you out of politics. get to the most influential person of fifth fit. you're looking into a crystal ball but who do you think it will be? >> i think it will be pope francis. he already has done a lot of things. a lot of positive, a lot of negative things. he is getting involved in global politics unlike any pope probably since john paul ii. look at influence in cuban situation. war on syria, i think was one of the reasons why president obama didn't follow through on red

line. earlier in the year he will take on issues republicans will be happy about, global warming and wealth distribution. i think he will be a major force in upcoming year. david: not saying good or bad but a majortores. cheryl, who do you think the main influencer? cheryl: for politics, hillary clinton. this is the year she is running for 2016. she is most part careful in her words. couple of slipups. i think she will be the one to watch. david: i have to ask you, bush-clinton president if she runs again? cheryl: looking like it. david: clearly is. zane, the most important person for 2015 is? >> you stole pope francis i agree with that. he influences a quarter of the world's population with the stroke of a pen. then next best i would say is ironically david koch. move as little center and gets behind someone like jeb bush, he could put his billions in a way.

he can't be too far right. david: i think you're absolutely right. i think that is precisely what they are doing, what the pr folks around him are doing, trying as best they can to move him more to the center now. if they succeed he could be even more influential then he has been. who does that leave. gary, phil, that is you right? i'm sorry, you said forgive me, pope francis. gary, go ahead. >> correct, for me central banks. they are the driving force behind asset prices going higher over the last few years. and now you have japan in a big way, european central bank, china lowering interest rates. a direct correlation between markets and their moves. and i suspect they're going to continue if not even go further into the printing of money. and we may end up with some sort of a 1999 before it all falls out. david: wow, let us hope not. let us hope not. saved the best for last. gary kaltbaum, thank you very much, my friend. good to see you again.

phil flynn, price futures group. zane tangle, apple metro. zane, you have a very busy night. you have a lot of applebee's in gear for new year and tonight. >> thank you, david. david: cheryl casone rounding out group. cheryl: i'm staying right here for new year's eve. hanging out at fox. gnat goss posting a 32% loss for the year but with freezing temperatures sweeping country, the nightmare for producers may be over. what kind of impact will this have for the consumer? david: hockey season is well underway. hockey fans get ready for the winter classic in washington, d.c. we'll take you live to outdoors. hockey should be played outdoors. should be. cheryl: gas prices down almost a dollar since the start of 2014 but will they continue to decline for a third straight year? when we go to break, we'll show you aerial view of times square. david: wow, ain't that cool. cheryl: thousands and thousands

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david: of course we've been talking about green year in the u.s. markets for the unbelievably sixth time in a row, right? six years in a row. believe it or not this was nothing compared to this year's top performing stock market which wasn't here. the shanghai index, after finishing last in asia last year, the shanghai stock exchange rallied more than 52% for this year, with most of those gains coming in the past six weeks. of course a lot of it is very speculative we should add. cheryl: you know, if you fall hard you have a long way to go up and they went pretty quick. brutal year for natural gas, falling more than 27%. that drop helped consumers save big on their heating bills. david: that could all change as frigid weather takes over and could lead to higher energy bills. jeff flock is bracing in the cold right now. we can hear his teeth chattering all the way from new york. in fact it is so cold, that the camera actually just froze on

us. so we lost his shot. cheryl: he was on in the last hour with me. david: jeff, wherever you are. >> it was a negative zero. david: we were hoping to get the shot but it was just too cold over there. meanwhile the national hockey season is underway and many fans are anxiously awaiting 2015 winter classic held at nationals park in washington, d.c. cheryl: rich edson talking to us from naggals park where it is not zero but cold nonetheless. >> don't forget about jeff flock. i will do a cold weather shot. low 30s in national park. last time i was here there i was here in t-shirts and shorts and now there is no grass but ice. this is for the national hockey league, compare it nhl to many other leagues, certainly doesn't stand up to the revenuewise to national football league and even major league baseball.

but if you look at revenues they have increased. this is last two years with two seasons with lockouts from $2.75 billion in 2008 and nhl expects about $4 billion in revenue for this season. talked to ted leonsis the owner of the washington capitals, he said as far as only assets are concerned, owning nhl teams is a pretty good asset. >> with the nba you have seen unbelievable value created. same with the nhl. probably made five or six times of my investment since we bought the team back in 1999, 2000. these have become really big business. the revenues grow and they're reoccurring revenues. season ticketholders, suite, media december and the like. >> nhl had six outdoor games last year. there will be two this season. they're looking at maybe three or four for next year.

back to you. david: rich edson, thank you very much. >> jeff flock's camera is unfrozen. david: abreacted heavily on it. cheryl: jeff, we have you back. we're happy. >> 30 degrees for rich edson. hey, listen i have my blawkhawks hat on. they will win the classic tomorrow. cold everywhere in the u.s. except maybe miami. you would have think that sparked a rally in natural gas. look at numbers. today. no, this on final trading day -- david: there it goes again. >> just too cold and windy for jeff. david: i think wind is actually a bigger factor. usually when it is that cold for sustained period in chicago that water behind him is frozen solid. not so this time. cheryl: jeff can go home. david: go home, jeff. warm up. cheryl: gas prices did see a massive drop which some seeing gas prices below a dollar a gallon. up next, gasbuddy.com give us the outlook for 2015.

>> good evening everybody. i'm adam shapiro. coming up after top of the hour, he is a 22-year-old entrepreneur that the airlines want to drive out of business. so why do they want to do that? he is going to be here in person to tell us. that is just one of the stories coming up on "the willis report" in just a few minutes.

>> now what happens for 2015 for oil? lower prices? >> gas buddy senior petroleum analyst patrick dehaan. patrick, good to talk to you. bottom line will we see prices stay lowered level for 2015. >> not where they stand right now. gas prices being very seasonally. we're at yearly lows formally this time of year. we'll likely see some sort of a increase but gas prices in 2015 likely to remain far below what we saw in 2014. cheryl: what about the west coast? i'm always shocked and amazed by numbers out of los angeles, west coast areas. >> right. cheryl: do you think they will get more of a break in in 2015. >> i wish i could say that. the cap-and-trade tax will be here midnight strike in california.

they will see 10 to 12-cent jump next few weeks. in 2015 that tax phased. that will be like deep 3-gallon territory. it may be difficulties for some of these areas that routinely go deep into $4 territory for them to stay in the $4 a gallon range. adam: patrick, you bring up the an interesting point which is political side. politicians look for ways to spend our money. if they come in might they get an increase in the natural gas tax to pay for more bridge bridges and stuff? that never happens but they end up taxing us more. might that happen in 2016? >> that issue will be talked about. you make a great point. while prices are low, politicians look to increase gasoline taxes in various capacities or ways, shapes and forms. state of michigan is looking to

pass a new tax. motorists are not feeling pain. much easier for politicians you expect some sort of natural gas down the road, not touched in over two decades. so. >> patrick dehaan. good to see you. thank you very much. >> thank you. >> time for the number one thing to watch for friday. let's bring back gary kaltbaum. gary k. what should we watch for friday? >> the most important thing for me is to see if the new york knicks can win another game this year because i am a very depressed knicks fan. for me it is not necessarily friday but into the new year i'm not thrilled with action near term. last year january we corrected into february. think there is a chance of that happening. moving into january, earnings report. i want to see if lower energy prices helped profits. that could buffer stocks for higher prices first quarter of the year. that will be very key for me.

>> gary, i don't know if you heard me talk too yu-dee chang, 2012, 10% increase in the s&p. 2013, 30% increase. another double digit increase. that is a 50% increase in the s&p over three years. is that kind of an increase deserved? >> look, i believe the economy is better. profits are okay. get a little chart of the market. when central banks introduce with quantitative easing easing and fun stuff. that is part of the equation. corporate america is pared back. profits are better. >> hope you have a great 2015. >> you're not a resolution person. >> no. cheryl: what is biggest thing for 2014, the biggest story that you covered that surprised you. >> biggest story, in terms of business, interest rates not going up and market continuing

to perform. i don't think it is possible. my wife's homemade cooking. cheryl: your wife book cooked for me. adam: it is already 2015 in much of the world with australia greeting the new year in new york. fireworks lit up entire harbor, with more than 1 1/2 million people lined harbor to watch that show. we're still seven 1/2 hours from the big waterford crystal ball drop in times square. crowds have been standing out in frigid cold temperatures for several hours. i'm adam shapiro in for gerri willis this evening. hope you get everything new tonight.