will today's unemployment numbers keep the momentum going in the stock market.. in today's cover story.... a spin through the country's largest auto show. and... subway shocker... why the chain is nixing a surprising ingrediant from its bread. plus... in traders unplugged... how to avoid getting your shorts squeezed... first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's friday, feburary 7th. in today's first look: traders get a look today at jobs added in jaunary. the market expects 175,000 people were put on payrolls and the unemployment rate will remain at 6.7% rally on the rumor? stocks staged a huge move going to jobs friday. the dow up 189, nasdaq

45 and s&p 21. gold was unchaged and oil up 51 cents. the senate has fails to advance the jobless benefits extension. and, investors disconnect from linked in. the social media company topped estimates on earnings. but the forecast fell shy. the stock tumbled 8%. larry shover of sfg alternatives joins us now on this jobs friday. with jobs in focus, what is the market trying to signal here about the job market? >>i think the market right now is saying we don't need a big beat. what we don't need is something like we saw last month. we also need to see a revision from december that was so paltry. so i think that somewhere in the range of $175 with a revision to 150 from december would make everybody really happy. >>agreed. what about the rally yesterday? what was behind that huge move?

>>i think a lot of it is just emerging marketsthe currencies rallied against the u.s. dollar. our economic data that came out yesterday in the adp reportism non-manufacturing were soothing to the markets and earnings were pretty good. last ofall, the retail stocksthey were a washout and most of them rallied yesterday. >>let's talk about olympic sized investing. is there any way you are playing the olympic games and what about the bricks? russia is in that area. are the emerging markets a place to park money? >>emerging markets are definitely a place to park money but you have to be very particular. you just can't put them with one big brush because when you have certain countries that have rising rates, lower fx rates you're gonna have capital outflowsnot a good place to invest. so i would be very particular. russia would not be at the top of my list right now. >>thank you for joining us today larry. take care. >>you're welcome. traders are juggling numbers ahead of the unemployment data...planned job cuts jumped a surprising 47% in january, following december's 13-year low. john challenger of outplacement firm challenger grey and christmas says the sector that took the biggest hit was retail.

however, challenger expects today's numbers to show improvement. challenger adds that technology and globalization are shifting the job market. the wall street journal cites those factors as a reason that one in six men between the prime working ages of 25 and 54 are unemployed. the number of people who work for themselves is yet to recover since the recession. in 2006 7.2% of the labor force was considered self-employed. in 2013 --a total of 10 million people or 6.6% of americans worked for themselves. the study partly by careerbuilder did not include owners of incorporated companies. the research also found that 23% of full time workers held second or even 3rd jobs last year. the numbers are expected to change as the economy improves. sony is cutting 5 thousand jobs

and selling divisions as it struggles to turn around profits. sony expects a loss of a billion dollars for the year. it will sell its pc and ebook divisions, while the vaio tv business will be split into a separate company. sony plans to refocus on mobile products. the verdict is in one of the most notorious insider trading cases. mathew martoma-- a former portfolio manager at sac capital advisors has been found guilty. he was accused of using confidential information on an experimental alzheimer's drug. sac made a $275 million profit in the trade. martoma could face up to 10 years in prison. he plans to appeal. federal authorities continue to investigatie other allegations of insider trading the hedge fund. the founder stephen cohen has not been charged. hedge funds are getting burned on green mountain's deal with coca-cola. green mountain stock surged thursday after coke disclosed taking a 10 percent stake in the company to develop

an in-home beverage system. funds such as green light capitol shorted the stock betting it would go down instead--the stock rallied from $80 wednesday to $102 thursday. ...and some hedge funds taking major stakes in commercial real estate...such as malls, resorts and hotels counting on an increasing values. the firms are also plan to lend more than $1 trillion to borrowers who can't get loans from banks. real estate investors are taking advantage of low mortgage rates. recently the 30 year rate dropped to 4.23 percent from 4.53 percent since the start of the year. 15-year rates fell to 3.33 percent. new data "delves" into what makes "tech hubs" so expensive for residents. the hubs are in cities such as san francisco where residents blame silicon valley for the skyrocketing cost of living. however jed kolko, the chief economist of trulia says there's

more to the story. part of the story is that the industry was drawn to places that were expensive to begin with. these are places that are centers of research universities, many of them have nice climates, they have strong employment in pre cursor industries, like computer manufacturing." that was jed kolko of trulia. a study just out from the firm finds the year-over-year increase in home prices in silicon valley and other communities are in line with -- not ahead of the national trend. residents in west virginia. are getting the all clear signal from the governor- their drinking water is safe after extensive testing. to start with with the testing of the water one part per million we went way beyond that we 10 parts per million, we have the epa who also oversees these water companies and so forth." the spill happened a month ago leaving tens of thousands in west virginia without safe tap water. last week residents still complained about rashes and headaches. the company behind the spill--

freedom industries was exempt from inspections because it only stores chemicals. lawmakers are considering new rules. subway is changing its bread recipe. the chain is removing a chemical additive from all breads, following pushback from food activists. 57 thousand people signed on to the movement launched by blogger vani hari. the chemical: oz-oh- dy-car-bon-ah-myd, is used to make yoga mats, and has been linked to respiratory issues. the fda contends its safe as an "aging or bleaching" ingredient. subway states it was "already in the process of removing oz-oh-dy-car-bon-ah-myd as part of our bread improvement efforts." some dramatic market moves following earnings. disney knocked it out of the park. profits were up 33% with help from the animated hit film frozen. ad sales at espn also boosted results. the stock rallied 5%. twitter shares tanked 24% as investors reacted to a lackluster earnings report that forecasted fewer users. and at gm...a sales skid overseas hurt incomes. however, the automaker will send out profit sharing checks for up to $7,500 to u-a-w members. those skidding car sales extended from overseas --- to the u-s in january. partly

because of severe winter weather across much of the country. with that, our cover story takes a look at the nations largest auto show opening this week in chicago. whether its the promise of an electric kia soul, or resurgence of the chevy impala, car makers are hoping consumers can put relentless winter storms behind them. car sales dropped in january for the first time in five years. down 12% at general motors, 7% at toyota and 8% at ford. while ford stock has slid downhill for the past three weeks. in paris-- a collectable car auction just set a record. this red hot 1957 ferrari reportedly sold for $40 million dollars. it's the highest price ever paid for a testa rossa. prices on collectable cars have surged as the stock market has been taking investors for a ride.

the nation is running low on road salt as severe winter weather stretches on...supplies of rock salt are at an all-time low. one mine in kansas, which produces most of the salt in the midwest, is running at a

capacity of 33-hundred tons per day, and it's still not enough. in some areas-- prices have doubled. traders and investors are

learnings just how hard this winter has been on retailers. a survey taken during the january 5th to 7th "polar vortex" alone -- shows sales cooled by 9.6%. as a result a number of retailers are slashing earnings forecasts including kohls and walmart. costco however, posted a 5% increase. in new york... the police department is said to have double vision. venture beat dot com says officers are trying out google glass to "see" if it leads to better law enforcement. google officials say they have no knowledge of the beta testing. the report says police could use the computerized spectacles on the beat. still to come: one trader is bracing for good news from today's unemployment numbers... plus...don't sweat the "short"

stuff. the guys reveal the heavily shorted stocks they would play... and... if this market has you concerned...you will definitely want to stay tuned for the "glass half full" commentary, coming up next with bill moller.

the high net worth investor-- outside of institutional investors, they are the ones who drive the markets. what they think matters. morgan stanley just conducted a poll of more than a thousand of these more affluent investors to gauge their mood. steven esposito is a morgan stanley advisor. steven, are they essentially bullish or bearish on the year ahead? >>most of the investorsabout 87%--are very bullish on the next year. they think the financial outlook will be better or the same as it was in 2013. they also think that portfolios will do well in 2014about 84% of them. >>where do they have concerns? >>concerns are 90%--which is a pretty big percentageare

worried about the economy. followed by 87% at the deficit and the mid 80's 0r 70s on foreign conflict. so number one is the outlook for the economy for 2014 as well as the budget deficit. >>it doesn't sound like those concerns are all that high if it doesn't counterbalance their otherwise optimistic outlook for the year. >>they've had a couple of good years so they feel this will continue in their portfolios going forward. the outlook for cash isn't very good so they have reason to believe the economy will continue to grow but looking out of the corner of their eye worried about what they're doing in washington. they're watching the economic numbers very closely, the jobs number, the gdp, etc. they're bullish but at the same time they're cautious. >>your poll also looked at where they're putting their money. >>the majority of them are going with equities. about 52% of the affluent are going with equities. right behind that is cash, and then fixed income follows that. even within those various sectors they're diversifying among countries. >>i noticed that the overall population jobs is the big

issue but it doesn't seem like with the higher net worth crowd, that's all that important to them. >>the job creation probably falls into the same scenario with the economy getting better. as jobs get better, the economy is reflected there. so i think they look at it but they're really concerned with the direction of the financial situation in this countrytaxes and things along those lines are of concern to them. again, while they're bullishthey think the economy is improvingand it is. they are concerned and they are watching very closely at what is going on in the economic data that we get. >>steven esposito with morgan stanleythanks so much. >>thank you. thank you bill--coming up in chart talk on this jobs-- will there be another chance to buy on the dip. or are stocks ramping up for another big run. plus... bank employees on the brink. why the u.s. government is spying on risky workers. that's next in traders unplugged. stay with us!

the market may have most investors rattled-- not these guys. joining us from the floor of cme group-- alan knuckman and scott shellady are here for traders unplugged. good morning guys. round number 1i spy. the government is warning some banks to watch out for high risk employees. what banks are you eyeing? alan: what's weird about this is who's watching the watchers? the article was mentioning bank of america and wells fargo. when i first started to do the analysis i was looking and thinking that wells fargo would be a better buy because now with interest rates coming down that's gonna help their area where they were successful as far as mortgages. but looking at the analysis here, wells fargo i see going up 12%. i see bank of america going up 8% after having a big leg up. so if there's no gun to my head, i'm not gonna pick either. i'm gonna pick

xlfthe whole financial sector. it's gone from 18 to 22 up to 26another 25%. i'm sticking with it. stick with the banks. scott: the ticker that i'd like to keep a watch out over this whole thing is the ticker i-r-s. which means that i think that the government should be looking to themselves before they look outside at anybody else. i do think that the banks will perform but i absolutely think that this is something that alan: if you had to pick onewells fargo or bank of americaeither one? scott: wells fargo. angie: topic number twoshake shack. radio shck came out with a vintage ad in the super bowl. it's also closing 500 stores. so can electronics stores rebound? scott: i think they can but it's gonna be a little bit different. and i think this is gonna go back to say the late 80's or early 90's when everybody said that the theaters were gonna go out of business because of home video. it's gonna be a different experience. they're gonna have to charge more for some things and monetize the actual touch and

feel of things that people go in there to take a look at. but they will survivejust in a different manner. alan: so they have to reinvent themselves. looking at radio shack stock, it's down to $2. this was a $20 something stock not that long ago. so from a risk management standpointwhat could it do? it could go to zerotrue. but i think here we have seen some bullish diversions meaning it made new lows here january 15th but it did not make new highs of volatility. that's a positive sign. so there is a number of things to look at with radio shack. but if you look at something like best buybest buy was the best performing stock last year. before that it was $11 dog. so these things can change and evolve. angie: topic number threebuy the shorts. the shorts are getting squeezed as green mountain soars higher. so which shorted stock offers the best potential? alan: green mountain was a classic example of a stock that went down to 20 and then has come back fully here. we saw that squeeze 30% of its shares. so there's some other stocks that have a very short open interest here. and my favoritei was looking at joyand then i started to look at my hometown stock, clfcliff's natural resources. it's got like 25% of its shares short and it's been down 45%, year to date.

scott: it's a tight squeeze to get into my shorts so i took it a different way. what things would i add to? i'd add to aeropostale. they're heavily shorted because i can't fit into any of their clothes. beezer homes because i don't believe in the homes market right now. but ulimately teslai believe that pioneers are somebody you find face down in a puddle of water with an arrow in his backi want the second car maker in that space. alan: in the meantime i think tesla's going to new highs. angie: time now for your bonus round questionit's been a rough winter. so how many times since 1970 has the stock market closed due weather? alan: never. money can be made. especially with electronic trading. why turn it off? scott: it's gonna be never or once. it's not gonna be a lot. angie: it's twicehurricane sandy in 2012 and hurricane gloria in 1985. i was surprised too. first business continues right after this.

dan deming of stutland equities joins us now as we look forward

to the jobs number today. there was a late session surge with stock buying yesterday in the market. what does that tell us about trading today? >>we'll have to see if we can continue to hold onto these gains angie and so far the market has not had the ability to hold onto gains. we are running into some resistance here in the s&pthat 1775 area closed just below it coming into the number this morning. it looks like the expectations are that the number's gonna be fairly decent. i think that's why we saw that bounce yesterday. we'll have to see if it can actually hold these gains though. it's a little premature to think that it could hold on these gains because there has been heavy selling on any bounce to this point so far this year. >>we saw a break in the market this week down to 1740 and we all know there are people out there who have missed the rally. they are waiting for an entry point. and boy did they buy on the dip from what we

could see yesterday. was that any kind of low or will people have another opportunity? >>again, it's a little premature to call it a bottom right now given the fact that you are just seeing a kind of reactionary rally off the fact that the market has been hit pretty hard now in the last couple of weeks. but the bottom line is, if you're a technician and you look at that and say we held that 1742 area in the s&p. that's a pretty significant support area. that was where a lot of technicians are looking for support and we got it. now i think if you see us push back through 17775 and maybe make a run at 1800 and we can kind of hold on to these gains there is a possibility that this could be just a bump in the road. but i think it's a little too soon to call that as the market rolls into this jobs number. >>there's a sigh of relief in there somewhere dan so thank you for that this morning. >>you're welcome. it's time for us to fly out of here for today. coming up monday-- find out about very last minute trips to the olympics. from all of us at first business... thank you for watching and have a spectacular weekend..

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