hi, everyone, and welcome to "on the money." i'm contessa brewer in for becky quick. a stomach-churning week for stocks. what does it mean for your retirement money, and what's next? ready to get behind the wheel of your new car? oh, wait, the next step beyond self-driving is coming soon. no accelerator, no brakes, no steering wheel, no problem. finding love with what you hate? the new app that pairs you up by what you don't like. and what on earth is chocolate pizza? one young man's amazing success story and the sweet taste of success. "on the money" starts right now. >> announcer: this is "on the money," your money, your life, your future. we begin with a peek into the future, and it's arriving sooner than you think.

new cars that will have you in the driver's seat, but you won't be doing any of the braking or accelerating, because you can't. that's because these cars don't have steering wheels or pedals. phil lebeau has this week's cover story, "turning point." >> this is the future, according to general motors, a self-driving car without a steering wheel and pedals, driving around cities, giving people rides in robo taxis. >> obviously, there will be an adoption curve and it will take some time for people to get used to the idea, but everything we're doing is all about safety in the approach, and we want people to feel comfortable with the technology right from the outset. >> gm is asking the federal government to wave vehicle rules that have been in place for decades so it can put self-driving cars on the road without steering wheels and other controls. it's a radical departure. going back to the days of henry ford, steering wheels and gas pedals have been at the heart of every car and truck, but gm and other automakers believe there's

no need for a steering wheel if there is no driver. >> we see these vehicles getting deployed, first of all, in a ride-share environment, and that's what we're aiming to do in 2019. obviously, having maximum space inside the vehicle available for passengers as customers is a benefit of what we're doing here. >> other companies like waymo are also developing self-driving cars without steering wheels, and late last year, an autonomous drive shuttle without a driver hit the strip in las vegas and almost immediately was hit by another vehicle, which raises the question, will the public feel comfortable in a car where there's no way to take over steering if there is an emergency? >> sounds really dangerous to me. >> i'd feel pretty safe, i think. i think i'd feel pretty safe with that. >> i'd prefer if there was like an option where you could take control over the vehicle and remove it from automation, but i think, hopefully, that the company put their time and effort in trying to protect the

users. >> gm's steering wheel-free car does have an emergency button riders can press if they want to stop the car immediately, but otherwise, gm says these self-driving chevy bolts will know where to go without a driver or a steering wheel. phil lebeau, "on the money," chicago. >> so, will we all be passengers in the car of the future? rebecca linlund is an analyst at kelley blue book. thank you for joining us. the first time you pull up to a stop light and see a car without a driver, it's going to be a shock to the system. when can we start seeing cars on autopilot? >> we are, of course, seeing them in certain locations, but i think it's going to be a while before they really overtake the industry. and it's interesting that you use that example, because i will often tell people when you get to a four-way stop, that's a very social experience, right? you all get there at the same

time. you have to kind of look at each other. and the car won't be able to do that. so, there's been instances where, like on a test track where everyone stops and nobody can go because nobody knows who goes next. so, there's small things that we still have to overcome, but i think it's going to be quite a few years before we see these really deployed widespread across the country. >> and the federal government still has to approve a car without a steering wheel, so how do the manufacturers go forward and demonstrate to the federal government and to us as customers that they can satisfy those safety requirements? >> so, one of the things i think is very important is that the government is a partner in the development of this technology. so, as you say, the regulations, i just don't want regulations to stymie creativity and development. we have to have a fluid

marketplace here in order to come up with new solutions for those things, like what do you do at a four-way stop, the socialization of driving. so, i think that the more we can cooperate with the government and the more that the government is a partner in this expansion, i think the better off everyone will be and the faster we'll get to adoption of some of these safe technologies. >> so, phil mentioned in his story that they're being designed for ride-sharing services like uber and lyft, but are we also going to see customers buying driverless cars to have? >> this is all part of the question mark that we still have -- what does that look like? what does ownership look like in the future? i will tell you, though, that the youngest generation, generation "z," it's sometimes called, those people born after 2003, they will be the most comfortable with this concept of ride-sharing, of not having a steering wheel, of just getting

into a pod. >> what about insurance, because that's a big thing that comes into play. phil mentioned in the story they have this demonstration in las vegas and the car almost immediately gets hit. >> yes, yes. >> where will insurance rates come down on this? >> well, the insurance companies on the one hand, some of them are absolutely salivating, especially the attorneys, and on the other hand, they're saying we're never going to insure that that never will happen. so there are all these barriers to deploying these vehicles. gm has ride-sharing, they have ride-hailing, and they may even have an interest in lyft, so we're working through some of these issues and challenges and obstacles, but it still is very, very complicated. >> although i will say, you know, i have a brand-new 2018 car that has safety features i've never owned in a car, and it's already saved me from a fender bender with the alerts and all of that. we're already heading the way where the car maybe actually does know more than me, i hate

to admit. rebecca, thank you for joining us. i appreciate it. >> thank you. up next, we're "on the money." after a whiplash-inducing week in the stock market, what should you do with your retirement money? if your nerves are frazzled, you are not alone. and later, finding love through hate? how this idea went from a bit in a comedy routine to an app with more than a million downloads. and now take a look at how the stock market ended the week. my experience with usaa has been excellent. they always refer to me as master sergeant. they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are

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♪ now here's a look at what's making news as we head into a new week "on the money." even if you have a strong stomach, if you have money in the stock market, boy, this was an interesting week, and that's putting it mildly. the dow had its worst one-day point drop ever on monday, though as a percentage, it was

nowhere near a record. and volatility returned to stocks after one of the quietest years on record. stocks bounced back on tuesday and then just continued on this wild roller coaster ride the rest of the week, tumbling more than 1,000 points again thursday. the s&p 500 followed along, falling more than 4% monday, then more than 3% thursday. the nasdaq had its worst day since june of 2016 on thursday. the moves in part based on concerns about rising interest rates and the return of inflation. america's services sector is doing fine. the ism nonmanufacturing index, which measures the strengths of the services sector hit a 12-year high in january, pushed by an increase in new orders and capital spending. this is the latest sign of a strengthening economy at the start of the year. amazon's whole foods will be testing out a new grocery delivery service in four cities. the trial program will begin in austin, cincinnati, dallas, and virginia beach. it's available to prime members and guarantees free two-hour

delivery for orders of more than $35. this was the wild roller coaster ride for stocks. the steep dives just have rattled nerves and have shaken savers. >> my thoughts are a little stressed, but i remain calm because i've been through a number of market cycles, and i realize time is on our side. >> the market's gone straight up. i don't think it's unusual that we've had a little bit of a pullback. i think you also have to invest for the long term. >> i'll definitely still contribute. i mean, there's whacks and wanes in the stock market and we'll have to wait it out. >> it's kind of like our first down in a while, so hopefully, it will pick up, but i'm really not, you know, not worried yet. >> david kelly is jpmorgan asset management chief global strategist. david, good to talk to you this morning. >> glad to be here. >> so, we just heard from people who are concerned by these market swings. what's your best advice after a wild week? >> well, i think what you can do is what i call an fvp test, which is fundamentals,

valuations, and positioning. the first thing you do is ask have the fundamentals in the economy changed? and really, they haven't, as you were describing earlier. it's a relatively strong economy. it's not booming, but growth is strong, inflation is slowly moving up, interest rates are slowly moving up, but it's just a healthy economy. then when we look at valuations, the stock market's a little bit more expensive than average, but bonds are also much more expensive than average. so in relative terms, u.s. stocks still look a little cheap relative to u.s. bonds. so that means i still want to be in stocks. then the real question is positioning. and it's nice to hear people think about their own portfolios and how they're investing. these market swings will occur, but the real question is are you positioned correctly for the long run? >> all right, so depending on your age, since you bring it up, should have less money in stocks? should you have more money in bonds? how do you guide people will how to distribute that? >> well, generally speaking, as you get older, you should try to be a little safer. now, it's a little trickier today because interest rates are so low, the bond market's not as safe as it used to be, but i

would say be a little bit overweight stocks relative bonds compared to where you'd normally be at your age. also have a little bit in short duration, things close to cash just to sort of act as balance in a portfolio. then the other thing is invest around the world. the u.s. stock market's had a very long run. international stock markets are doing better, but they aren't nearly as far along on their run and i think there's a lot of opportunity in overseas equities and people should take advantage of that. >> a lot of expert investors are paying a lot of attention to volatility. they have special indices that gauge the volatility. how long do you think that we're in for this sort of up-and-down movement, wild swings? >> i don't think it will be that long. i mean, volatility is normal, but it's not what you'd call normally distributed. it's either very high or very low, and we've sort of switched on to a very high regime here. i think that could last, you know, a few days, a few weeks. but once things, the markets calms down and settles down, and in fact, probably settles up to higher levels, i think volatility will come back down again, because ultimately, we've got a very stable economy, we've

got relatively stable long-term interest rates, despite what's happened since the start of the year, and there isn't much opportunity in other asset classes outside of stocks because rates are so low. and all these things, that's what's made volatility low to this point. and you will have these technical issues from time to time, but i think in the long run, volatility will be lower than it has been in recent decades. >> so when you're seeing the stock market landing 10% off its highs or you're seeing this kind of volatility, do you recommend going in right now in the midst of all of it and saying, okay, how should i rebalance my long-term retirement savings plan? >> i think it's worth taking a look. this is a good wake-up call to people, am i really positioned the way i want to be? but i would urge people not to make impulsive moves here and think that the story's somehow changed. as i see it, the main problem with a lot of investors is they don't have enough international equities in a portfolio, but overall, people need to remember this is normal. if you go back the last 35, 36

years, a 14 hrs corre% correct year is the average. so there is nothing anomalous about this. it's just that we had two very calm years, so this comes a acre should to some people. >> david kelly, thank you for your perspective and insight. >> any time. next, we are "on the money." cargo shorts? hate them! daylight saving time, the worst! the new app that matches people based on the topics they hate. and later, pizza just got a little sweeter. the pie your valentine might crave this year.

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brendan alper is ceo of hater. he joins us now. how did you come up with the concept of finding someone based on the fact that they hate the same thing you do? >> sure. well, i started in finance and i quit to become a comedy writer, and hater was actually a comedy sketch idea i had originally, but when i told people about it, everyone loved the idea so much that i figured this has to be a real app. >> so when did you launch? >> in february of last year, so just about a year ago on valentine's day. >> of course, perfect for valentine's day. >> exactly. >> what have you found by matching people by the things that they hate? >> well, studies actually show that people who hate the same things actually form closer bonds than people who love the same things. and it makes intuitive sense, i guess, but you know, you just feel more intermail wiimate wit when you hate the same things. >> has anyone found true love through hate? >> we don't have any marriages yet, but it's been a year and we have a couple that's been dating

a whole year. we had a couple who wrote in saying they hate the super bowl, so they got together during the super bowl and watched a movie. >> who hates the super bowl? so, what are the most top hated things? >> the top hated things were bullies, tangled earphones. >> oh, yeah. >> and slow walkers. >> yeah, i can see having long conversations about that and how it might morph into something else. >> exactly. >> are you making any money at this? >> right now we're not monetizing. we are doing a little bit of some advertising with some partners, but we're working on a premium subscription that will come out this year. >> brendan, i like to think of myself generally as an optimist. and then when i'm thinking about finding someone through hate, it just seems so negative to me. >> sure. >> i mean, is your relationship doomed to a class half empty sort of journey? >> sure, yeah. i mean, we get that a lot, certainly, and there are optimists and there are pessimists out there, and we really emphasize the fact that this is about, you know, hating stubbing your toe or, you know,

the crowded subway. it's not about hating groups of people or anything like that. >> you can even break it down by states, like oh, some states hate this the most. >> that's right. >> are there any funny stories? >> yeah, we did a study where we figured out what each state hates the most and what food each state hates the most, and we put some graphics up which went viral. >> this was the one that got me here, is that oregon hates spin class, and california hates those fidget spinners. >> that's right, fidget spinners. >> who doesn't hate those? what's next for your company? >> we'll be monetizing this year and rolling out some big features that we think will really change the dating game. >> brendan, thank you for coming in. >> thank you so much. >> and good luck in finding hate love. up next "on the money," a look at the news for the week ahead and how this chocolate company is making a name for itself with pizza. ♪ having moderate to severe plaque psoriasis is not always easy. it's a long-distance run. and you have the determination to keep going. humira has a proven track record of being prescribed

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♪ here are the stories coming up that may affect your money this week. on monday, president trump unveils his infrastructure plan. it's expected to total $1.5 trillion over the next ten years. and get ready to cheer on your favorite pooch. nearly 3,000 dogs will compete in the westminster dog show. on wednesday, we'll see how retailers fared last month. and flowers, chocolate, or a nice dinner may be in your future, or at least in mine, i hope. valentine's day is wednesday.

and on friday, we'll see how many new homes were started in january. this valentine's day, why not think outside the traditional box? ryan novak is the owner of the chocolate pizza company. as a kid, he loved visition the store with his mom. he started working at the company as a dishwasher as a teenager. then while still in college, he took the entrepreneurial plunge and bought the company at age 21. ryan, it's great to have you here. first of all, we've got to give a shout-out to our joint alma mater, syracuse. >> syracuse. >> because you were studying entrepreneurship there. >> absolutely. >> was that a big driver in deciding to take the plunge into ownership? >> yeah, it was huge. the entrepreneurship program there gave me a feel for business and the concept of what it would take to run a business. going into my senior year, i had the opportunity to buy the company from the previous owner going into my senior year. i said let's just do it. let's go for it. >> tell me a little bit about it, because chocolate has been around forever. >> right. >> and we love it and if you're a chocolate addict, you can't

live without it. how did you decide to offer something different? >> i wanted to do something unique with chocolate. there's a chocolate shop everywhere you look, but chocolate pizza isn't something you see out there. we took a premium swiss chocolate, put into a pizza box and sold it as a gourmet high-end chocolate, but still fun and unique to give. >> it's a little bit of a novelty. >> absolutely. >> how do you eat it? >> you just break it up into pieces. >> let's see, here's one right here. >> this one, the "on the money" pizza. >> or we have this one. can i take this? >> yeah. >> not to destroy the set, but this is a valentine's day one. >> a valentine's pizza, absolutely. >> and how did you find customers to be able to grow the business, because it is such a novelty? >> yeah, it's such a great product. when somebody receives a chocolate pizza, they're so excited because they've never seen anything like that, they want to give that to the next person that received it. >> here you have all kinds of toppings. >> our candy-topped pizza. >> which is bigger for you, retail bricks and mortar shops or retail online?

>> online is huge for us. we've put a lot of time and effort into growing our website. we know going online, ordering a pizza and having it in a day or two is a huge advantage, so we've put a lot of resources into the online marketplace. >> how do you advertise? >> facebook advertising is a big push and we get our name out there with programs and shows about chocolate pizza. it's a fun, great, unique gift. >> i understand you're constantly looking for new ways to deliver this product. >> absolutely. >> so what about airports? >> yeah, we're working with some local airports, laguardia and jfk. they'll be having our chocolate pizzas in some of their shops there. it's just fun, especially in the new york city area. we're a new york company, so it's neat to have those products available here. >> all right, as a small business owner, are you looking ahead at next year and the tax laws and all that? >> absolutely. >> and how might it affect your business? >> yeah, absolutely. i think any time there's economic excitement and optimism, i think it's good for our business. we saw a great increase in 2017 in business, so i think there was some optimism out there translated into bigger online sales. we do a big corporate business where people send pizzas to all

their different corporate clients, so we saw an increase in our corporate business where they sent a pizzale last year a now they want the peanut butter wings or gift baskets. >> can you believe this? and who do you think is your biggest competition? >> in the corporate space, we're up against harry and david, edible arrangements, sherry's berries, people who want to send things as thank-yous to their customers, but we take the unique strategy that it's a chocolate pizza, something nobody else has. it's a trademark product. >> you don't even need a pizza wheel. here's the little valentine's piece. let me taste. mm. it's really good. happy valentine's day. >> thank you, happy valentine's day. >> good luck in the future. how much has your business grown? >> 60% since i bought the business. >> congratulations. that's great. >> thank you. >> that's the sweet show for today. i'm contessa brewer. thank you so much for being with us. becky will be back next week. and facebook, snapchat, instagram and more, how to keep your kid safe on social media.

each week keep it height perigh.

right now at 5:30, heavy rain soaks the region and this massive storm system is still with us. when it will finally move out coming up in the first alert forecast. two people are killed overnight. investigators are trying to determine if the rain played a part. lining up to continue the celebration. birds fans have another chance to see an eagles favorite today. we'll tell you where jay ajayi will be signing autographs. good morning on this soggy sunday. this is "nbc 10 news today." i'm rosemary connors. i'm dray clark. we've issued a first alert for the rain and fog today.