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bny mellon.ood morning. welcome back to "squawk box" here on cnbc. i'm joe kernen along with michelle caruso cabrera and andrew ross sorkin. becky will be back on thursday. the headlines this morning, one trading day left in what's been a really good year for stocks. the dow, it has had its best yearly gain since 1996. before that, it was '95. before that, it rwas '94, i think. the s&p 500 had its best year since 1997. the major averages of only close to 2 losing months this year, june and august. today, also marks the final batch of economic reports for 2013. which if there were going be any today, we would say it's the final batch, right? >> of course, because it's december 311st. >>> today we'll get the case-shiller home prices index report. and the chicago purchasing manager's index is out at 9:45 eastern. when we'll all be so gone. and then the conference board, consumer confidence -- no, we won't. well be here researching thursday's store until probably close to the new year. >> 6:00 p.m.,

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bny mellon. >>> let's bring in arthur cashin, director of floor operations at u.s. financial service. also, a poet of sort is art with his annual poem on the year. hitting things as diverse as paula dean and hannah montana, to esther williams and edy gourmet. not many can get it in one poem. >> takes a heap of living and a lot of marinading to keep that together. >> the ten-year and the market itself as we head into next year. we were talking to dan about both. what are you looking for in this last two days of trading before the new year begins? >> historically, they are spotty. going into the new year, things could be strong. remember, 2013. one of the strongest performances in the first couple of days. you might see people preloading iras, preloading pension funds and other things and jumping in in the first couple of days. we are already overextended to some degree. >> why is that? >> the run-up of the market away from some of the moving averages and a variety of other things, it has been a he

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bny mellon. the energy in one gallon of gas is also enough to keep your smartphone running for how long? 30 days? 300 days? 3,000 days? the answer is... 3,000 days. because of gasoline's high energy density, your car doesn't have to carry as much fuel compared to other energy sources. take the energy quiz. energy lives here. >>> the u.s. housing market made a big rebound with prices rising 12.5% through october but could rising interest stop the recovery? >> rates on a 30-year fixed mortgage are up almost a full percent since january. if that trend continues through 2014, we could be up over 5% a year from now, of course. could that derail the housing recovery? joining us, susan waechter, wharton school of business, and fred licht, welcome to you both. >> pleasure to be here. >> nice to see you. fred, these headwind we're talking about, the tapering, which will keep rates going up and these new mortgage lender regulations coming through dodd/frank, will it be a tougher year next year or a better

bny mellon. >>> all right. it is power rundown time.first story we're going over, simon, in france they are approving a super tax on companies paying salaries over $1.3 million a year. you have to contribute a 50% income tax on the share of wages over that amount if you're the employer. the taxes could bring the rate as high as 75% on anything you make over 1 million euros. >> the thing to realize here is that the anger over inequality is driving change. even here in new york on wednesday bill de blasio will be new rated as the new mayor. he won on a landslide in part because he spoke of this city as being a tale of two cities. with that will come change. >> you'll being shocked to hear, simon. i disagree. when you know the details of this story there's a lot of talk but no action. this was supposed to be originally on individual. not a single individual will pay this. instead it's the company -- >> it was judged illegal. >> ultimately they were looking for a work around because they had complaints from soccer players, people who wanted

at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> welcome back to "street signs". russia under fire by another deadly attack today. the rush hour blast killed 14 people on a trolley bus in the southern city of volgograd. 28 others were wournded. authorities are blaming the 0 explosion on a suicide bomber. this is raising a lot of concerns with the sochi olympic committee. now just moments ago the international olympic committee assured the games would be safe. meanwhile russia's rts stock exchange down more than 1% over the course of the past week. russia is part of that emerging b.r.i.c.k.s. economy. >> chinese ipo missed it here in the united states made a come back this year and 2014 might be even hotter. bob pisani you've been doing a lot of research on this story. not just the chine

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bny mellon. ♪ >>> welcome back to "street signs."the final trading day of the year and going into 2014 walt will have its on the economy. what is in the cards for the gdp, jobs and the fed? let's ask deutsch bank chief economist joe. let's start off with your gdp prediction. hit us up. >> we've got growth pretty strong next year, almost 3.5%. i could actually see something closer to 4% if we get a little bit less fiscal drag and that's possible with this recent budget. the economy will look better, build upon the gains we've seen in 2013. that means the labor market will be better and also the fed will continue its tapering. qe should end in q3 and that means that rates should head higher. i think you'll see a ten-year note near 4% by year end 2014. >> that's a little more aggressive than our previous guest, hugh johnson, predicting 3.04% i think. you're looking for 4% in the ten-year yield at the end of the year. what are the risks to these predictions you've given us? >> on the growth side to the upside. even at 3, 4, that's a meag

bny mellon. >>> welcome back.ly have to go out on a limb to reap big returns in 2013. so-called dumb money strategies, buying and holding, save index funds or etfs, outperformed the costlier hedge funds this year. will dumb money deliver again in 2014 or is this a time for your money to be actively managed? with us is mark lopresti. >> happy new year. >> happy new year. so what do you think here? >> i think one thing we have to be careful about is talk about what segment of the hedge fund industry we're referring to. there is no doubt that in this market in the past few years very large multi-billion dollar funds have a significant disadvantage in being able to perform or outperform the market more broadly. >> what, just on sheer size? >> in part because of sheer size, that's right. but the other thing we have to bear in mind is that hedge funds, some, are actually intended to hedge and should not be outperforming the market. if you're invested in a hedge fund that is hedging your market exposure on the long side,

bny mellon. >>> welcome back to "worldwide exchange." i'm dominick. here at the show thought about it's the season for holiday wish lists and holiday shopping lists. we put together a list for the all i want for christmas for all the world's biggest leaders in the political sphere. we came up with a handful of them here. first off, barack obama, all he wants for christmas is for the healthcare.gov website to work. they've always had these glitches with the website. he wants all those going away. >>> this is jm morgan's ceo jamie dimon. all he wants for christmas is a bespoke suit as opposed to a lawsuit. jpmorgan has set aside billions to settle lawsuit claims. he wants a regular old custom made suit. tim cook, ceo of apple wants a break from invery faster carl icahn. tim cook has some $147 billion in cash and investments. carl icahn wants him to return some of that to shareholders. tim cook wants him to lose his number for a while. then take a look at this, russian president vladimir putin wants the sochi winter olympics to go off without a hitch. th

bny mellon. just by talking to a helmet.record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. >>> a second new big arena could be coming to the strip in las vegas. jackie robinson said he wants to build a $1.3 billion stadium on the site of the gaming corridor's old water park. the 22,000 seat arena would be in addition to the one being built on the other side of the strip by mgm resorts. the players says the project will be privately funded with construction starting next spring for completion in 2016. john is the gaming, lodging edit editor. good morning. >> good morning. >> if i had a dollar for every time i've heard there's a new casino and resort pro

bny mellon. just by talking to a helmet.the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. >>> we're just a few minutes before the bell on this abbreviated trading day. art, we saw durable goods so good today, some people calling it a christmas miracle. what will that do for the market today? >> it going to probably help. we're gearing up for the santa claus holiday. it's got the yield on the 10-year inching up again. it's up above 2.95. that may get the market's attention. probably not with the holiday spirit but if it gets above 2.975, then i think it might put some pressure on equities. >> santa claus rally, average of 1.6% to the up s

bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of america's energy comes from right here at home. take the energy quiz. energy lives here. with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. (watch ticking) >> safer: as far as you've been able to find out, was he ever legitimate? >> no, it was never legitimate. and i think if he told the truth, which he's not capable

bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. humans -- even when we cross our "t's" and dot our "i's," we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify, your rates won't go up due to your first accident. because making mistakes is only human, and so are we. we also offer new car replacement, so if you total your new car, we give you the money for a new one. call liberty mutual insurance at... and ask us all about our auto features, like guaranteed repairs, where if you get into an accident and use one of our certified repair shops, your repairs are guaranteed for life. so call... to talk with an insurance expert about everything that comes standard with our base auto policy. and if you switch, you could save up to $423. liberty mutual insurance. responsibility. what's your policy? >>> welcome back to "the halftime report."

at bny mellon, our business is investments. managing them, moving them, making them work.ersee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> the stock market, like everything else these day, is now hostage to the 24/7 media cycle. that means if you're going to make even a token effort to follow your investment, you'll be bombarded by all thoughts of overhyped information and it can lead you a stray ask cause you to make nasty, money-losing mistakes. as your investing coach it's my job of keeping you from being misled in making those mistakes that's which is why i devoted an entire chapt tore in my latest book "get rich quickly." you need to do your best to ignore. once a month we get reports from the big investment reports and specifically what they decided to buy or cut back on. we here in the media pore over 13f forms that these funds file with the fcc, and trying to find what sto

bny mellon. "power lunch's" top five stories of 2013.ve, best buy's turnaround. >> best buy which was given up for dead last year and is now at a two-year high in the stock market, look at that. >> number four. blackberry's death spiral. >> shares are down more than 80% since the apple iphone was released in june 2007. >> number three, the year of the activist investor. >> i was concerned about dealing with carl icahn. he's a quintessential example that on wall street if you want a friend, get a dog. >> number two the health care debacle. >> a data center critical to healthcare.gov went down last night, holding on-line enrollment in all 50 states. >> number one. the story of the year. markets at all-time highs. >> we have a record-breaking day down here ty. the dow and s&p crossing big numbers. >> the top five stories of 2013. >> and so the story continues, more record highs. what is your story of the year? >> i'm a fast money person so i was thinking stock stories. and i think tesla is a fascinating story. it has a fascinating ceo at th

bny mellon.>> joining us now, michael rubin from the american enterprise institute, author of the upcome k book "dancing with the devil: the perls of not gauging rogue regimes." who are these terrorists undertaking this bombing raid? >> the terrorists according to the russians are chechens. chechnya in the 1990s of course fought an independence struggle, ultimately unsuccessfully, against the russian state. it's part of russia today. but it really became al qaeda central back in the 1990s. and we have this concept, we have this phenomenon called the black widows. basically, the women, the wives of those who were killed, chechens in the struggle, and the russians are accusing both these suicide bombings as having been perpetrated by so-called black widows. >> black widows from dagestan. >> that's right. or chechnya. >> some speculation in the press, especially after the second bombing we just had today, that they're trying to disrupt, terrorize, and so forth all of russia to stop the olympic games

at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. [ male announcer ] here's a question for you: where does the united states get most of its energy? is it africa? the middle east? canada? or the u.s.? the answer is... the u.s. ♪ most of america's energy comes from right here at home. take the energy quiz. energy lives here. >>> all right. welcome back to the "halftime" show. what a week it's been for twitter? recording monster moves in both directions. what should you do now with the drastic moves? let's debate it. dr. j is the bull, steve weiss is the bear. 1:30 on the clock. doc, make your case, a case heck of a lot easier to make a week ago. >> no, it was easier today, judge, because last thursday, i believe, is when the stock peaked out. it hit 73 bucks a share. turned and burned to the

at bny mellon, our business get tis investments.managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> it's >>> it's friday. that means another edition of "nae "that's outrageous." joining us is adam sank, welcome back to the show. and jon fortt is staying with us as well. first on the list is delta's steal of a deal. the booking website experienced, let's call it a glitch, and discounted, really discounted some round-trip tickets to nearly nothing. and thaey're honoring it as wel. >> they have to. i booked a trip to the mars recovery for $100. and knew they operated the mars rover. >> they're going to own up to it. you can fly to honolulu for that $85 ticket you bought. >> $200 to hawaii but $40 to l.a. >> they did have to honor them. i guess with all the 75% off e-mails floating around this ti

bny mellon. to help secure retirements and protect financial futures.o help communities recover and rebuild. for companies going from garage to global. on the ground, in the air, even into space. we repaid every dollar america lent us. and gave america back a profit. we're here to keep our promises. to help you realize a better tomorrow. from the families of aig, happy holidays. (announcer) scottrade knows our 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. (voseeker of the sublime.ro. you can separate runway ridiculousness... from fashion that flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... an

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bny mellon. >>> >>> welcome back into "squawk box."ding sessions left for 2013 in what's been the best year for the dow and s&p 500 since the 1990s. all coming off record closes in yesterday's session. and the nasdaq has been up for the past 12 fridays now closed at its highest since september of 2000. i can't believe this. >>> textron is buying beechcraft for $4.4 billion. it's currently controlled by several hedge funds, including center ridge partners and the unit of bain capital. the maker of cessna planes and helicopters, now you have them in one place. and i will go on one of the propeller planes. >> turbo props. >> i think i'm okay with that. >> i saw pictures of them. >>> and also, general motors is recalling nearly 1.5 million cars sold in china. this is due to an issue, apparently with a bracket that secures the fuel pump. it's one of the biggest recalls ever in the rapidly growing china auto market. >> what changed your mind on the turbo prop? >> i was doing a little research for turbo props. and these beechcraft planes are

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bny mellon. to help secure retirements and protect financial futures.. for companies going from garage to global. on the ground, in the air, even into space. we repaid every dollar america lent us. and gave america back a profit. we're here to keep our promises. to help you realize a better tomorrow. from the families of aig, happy holidays. >>> all >>> all right. let's bring back simon hobbs as we count you down to the close here in the u.k. and across continental europe, ending on a high note, simon. >> a very strong session for europe. okay, it doesn't have the volumes, but come back from the two-day christmas break, resumed the rally, six day of a rally, and all top stocks are higher. so a market right away across the board, it's interesting, actually. looking at greece, the bottom right, greece has gained almost 5% so far today. whether it's window dressing or buying on expectations or whatever might happen next year, a clear outperformer. and the blue chips in athens and the way they have rocked ahead. you have upgrades on covered bonds from moody

bny mellon wealth management has the vision and experience to look beyond the obvious.over opportunities, find hidden risk, and make success a reality. bny mellon wealth management. >>> tonight anderson cooper has the stories of those who say they have seen it. co comatose she said she was given the chance to return to the l living or die. our randy kay has more. >> you could still see your husband. >> he was very distraught. he was there by my bedside and holding my hand and i could feel he was willing me to come back. and you had a choice to make. at first i did not want to come back. why would i want to come back into this sick and dying body. but then i understand why i had the answer. all the years of beating myself up feeling flawed had turned my own energy against me and manifested myself as cankcer an i understood that now that i knew this my body would heal. you had this huge revelation and they both affirmed what needed to be done. both said go back and life your life fearlessly and i started to come back. >> how long were you in the coma? >> about 30 hours. i

bny mellon. >>> escaping the cube, is what we call this segment. following a passion and making some money while doing it. today following two sisters like everyone else love cupcakes. now it's also their business. >> we had a very frank conversation with each other and said are we going to do this or spend the rest of our life wondering what if? >> hi, i'm katherine. >> i'm sophie, sisters and founders of georgetown cupcake. >> my background was in fashion. >> and mine in adventure capital. i was on the invensment time on highland investors. we still ended up talking about this dream. >> we had this passion for baking too afraid to act on it. >> when happy where you are and have a stable and secure position to give that up for something very, very uncertain and unknown is very frightening. >> we ended up having to max out all of our personal credit cards and use up our life savings which is not a conventional way to start a business. >> when we decided to start georgetown cup cake we wanted to use our grandmother's recipes because we had this grea

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bny mellon. (vo) you are a business pro. seeker of the sublime. you can separate runway ridiculousness... from fashion that flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (natalie) ooooh, i like your style. (vo) so do we, business pro. so do we. go national. go like a pro. >>> welcome back. it's been >>> welcome back. it's been a big year for ipos. that could carry over into 2014 because of a potential flood of chinese companies in particular that could list on u.s. exchanges. a better environment now, seema, appears to be supporting demand for these deals, does it not? >> that's right, kelly. there's a couple different factors that could help boost a number of ipos in 2014. first, american investors have seemed to regain their confidence in chinese ipos after what was a seven-month drought, seemed to be due to questionable accounting firms as chinese firms. second is stellar performance of chinese i

bny mellon. >> time for beast of burden? >> the first three notes of beast of burden may be the best guitar lick in all of music. that's trade school. >> it is. >> right there. >> time now for pops and drops. big movers of the day. we have got a pop for go go. >> we have got the ceo on. it's a great trading stock. >> a weak period of december, ebay is sicklically great to begin the year. below the $50 level. >> a whole lot cheaper. you don't have to worry about it. >> as usual, you had me at monster. it's a nice pop and better than normal volume. that's a strong move. also four times normal option activity. >> and we got a pop here. for glow in the dark pigs. scientists managed to breed green glowing pigs. they are perfectly healthy and should live as other pigs. scientists hope it will open the door to genetic therapies to treat human decisions. >> you have to eat that pig bacon, is there anything you have to worry about in the aftermath? >> they were supposed to bring these out before christmas. other animals being bred to

bny mellon. >>> good morning. the final day of 2013 is upon us.o ring in the new year again. seems like we just did this. and we have one more trading day left to go. >>> resident necessary a small north dakota town are being urged to evacuate after a train collided into another and no injuries have been reported. >>> and the east coast may ring in the new year with a big snowstorm. it's tuesday, december 31st, 2013. "squawk box" begins right now. you are looking at a live shot from auckland, new zealand right now where they are about to celebrate in just about four seconds, three seconds, two seconds, one second, the new year. we have another 18 hours to go, though, before the bell drops here in times square. good morning to you and welcome to "squawk box" right here on cnbc. i'm andrew ross sorkin along with -- there it is. beautiful. i actually was there years and years and years ago on the top of that tower there. but, anyway, happy new year, everybody. our top story this morning, a massive oil fire in north dakota, as many as 20 train cars ca

bny mellon wealth management.ere are welcome back our continuing coverage of the nelson mandela memorial service. the name nelson mandela, nelson was a name given to him his first day of school which was come on practice then? >> absolutely. his given name was holy slasla which a literal translation means troublemaker. i think he was proud of that. he liked the idea of seeing himself as a troublemaker. he was a rebel in spite of also being an aristocrat and a statesman. i think that name, in a way, probably identifies with him more when you look back. >> a sense of the owe pregs in the country at the time that a black child with an african name on his first day of school the teacher assigns him a name that she is more comfortable with, nelson. even when people went to trial, judges often, if the defendant had name that was hard to pronounce, they would say for the purposes of this proceeding, we are going to call you john, which gives you a sense of the level of impression of people's names weren't their own. >> i

bny mellon. >> welcome back.some of today's top moments, here is is a rapid fire recap of tonight's executive edge. >> the connection between consumers and brands is not as strong as it has been in year's past. if you look at the amount of advertising that there used to be, it's like a 17% decline. what the brands need to do is push their game. >> the worst recession since the 80s. now they have learned that the world is is a riskier place than they thought. >> the next big american brands are going to be starting on the line. we will wear 98% of our businesses online. >> it's kind of like a bumper car but it's got a drift bar on it so that it lifts it up and it spins freely in circles. almost a million people saw it. >> why is that okay? >> there are no elbow pads or knee pads. >> everyone brings you back to online. i think amazon truly reaps the benefits of all online. >> so if you want to talk about valuation it's still pricing in growth. the stock is up very quickly. >> this is a very special trade school. jo

for details, visit vwdealom today at bny mellon, our business is investments.ing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. >>> looks like we're on for a fourth straight month of gains for u.s. equities. we're flying high on the s&p 500 about by a point. the dow was higher by 20. the nasdaq just under 5. european equities have been pretty flat in today's session. we're up near five-year highs on an average of these markets. xe

bny mellon turns insights like these into powerful investment strategies.niversity endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. [ male announcer ] this december, experience the gift of true artistry and some of the best offers of the year at the lexus december to remember sales event. this is the pursuit of perfection. >>> welcome back to the show. let us show you how u.s. futures are shaping up this morning. keep in mind, it is a half day trading session in the u.s. markets just like it is the case for many of the european markets. the dow jones, nasdaq and s&p 500 are expected to see modest gains up at the start of the trading session. this is after the dow and the s&p 500 hit another record high in yesterday's session partly because consumer confidence rose to a five-month high and personal spending was slightly better than expected. tech is set to be the big winner this season. tom mckenzis has been taking a look at some of the most popular devices on the market right now. >>> organizers

bny mellon turns insights like these into powerful investment strategies. a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. ♪♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease the 2014 e350 for $579 a month at your local mercedes-benz dealer. >>> welcome back. maybe one man's trash can be another man's treasure when it comes to stocks. as investors dump their losing shares to gain a tax advantage. some of those names according to our next guest could be a free lunch for your portfolio. >> joining us to explain, give us a few examples of his best free lunch picks to nibble on as the editor-in-chief of stock traders almanac. jeffrey always good to see you. >> happy new year. >> give us very quickly what qualifies in your view as a agree lunc

bny mellon wealth management has the vision and experience to look beyond the obvious.over opportunities, find hidden risk, and make success a reality. bny mellon wealth management. ♪ [ female announcer ] can you heal a broken heart with a bundt cake? of course you can! even if that heart was broken by zack peterson. bake the world a better place with nestle toll house. >>> you are looking live at columbus circle in new york city where three to six inches of snow is expected to fall. it's all part of a massive storm that could dump up to several inches of snow in blanketed areas. cnn meteorologist jennifer gray is following the storm in chicago. >> chicago has seen about four inches of snow this morning alone. of course it's not just chicago feeling the effects of this storm, it's all over the northeast as well. winter still may be one week away, but by the looks of what's coming down this weekend, you might think otherwise. >> i was home when it started coming down. it's been constant all day. >> the back roads are all ice and snow. it's hard to drive on. >> reporter:

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bny mellon.k. social media giant facebook offering up 70 million shares. stock down about 1%. not as bad as it was doing in the premarket now that it is open for trading. it's set to join the s&p 500 so dilution today will be set for demand tomorrow. do you find this to be good timing? >> i think it's great timing. if you do the math, the delusion fr -- dilution from this offering is around 1%. so even without it being included in the s&p 500, we think this is a very good deal for investors still. >> zuckerberg is going to take profit on about 9.9 million of the shares that he's selling. it stills owns about 62% of the voting rights. what do you make of the optic to this. are they worrisome to you? >> it's always nice when the founder or the largest shareholder is selling in conjunction with the company and the old adage being take the money when you can, not when you have to. one thing that i don't think should be forgotten here is we're ten days before the end of the quarter and in my -- in our

bny mellon turns insights like these into powerful investment strategies.ity endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. ♪ i want to spread a little love this year ♪ [ male announcer ] this december, experience the gift of unsurpassed craftsmanship and some of the best offers of the year at the lexus december to remember sales event. this is the pursuit of perfection. half an hour to go. here's how the markets are shaping up. dow up 76 points, building on the fact it is as nominal, as -- not the case of the nasdaq, although it is the strongest performer today. $64 a share, facebook is strong on the s&p 500. now that it's added facebook getting a lift, up 0.5%. >> art cashin signaling with the hand signals, i'm learning the hand signals on the trading

bny mellon wealth management. just by talking to a helmet.abbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. [ femaavo: thesales event today cisco is connec"sis back. the internet of everythdrive" which means it's never been easier to get a new 2014 jetta. it gets an impressive 34 highway mpg and comes with no charge scheduled maintenance. and right now you can drive one home for practically just your signature. sign. then drive. get zero due at signing, zero down, zero deposit, and zero first month's payment on any new 2014 volkswagen. hurry, this offer ends january 2nd. visit vwdealer.com today >>> a giant storm just in time for the weekend! >> why

bny mellon wealth management has the vision and experience to look beyond the obvious.ll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management. stick with innovation. stick with power. stick with technology. get the new flexcare platinum from philips sonicare and save now. philips sonicare. ♪ [ male announcer ] laura's heart attack didn't come with a warning. today her doctor has her on a bayer aspirin regimen to help reduce the risk of another one. if you've had a heart attack, be sure to talk to your doctor before you begin an aspirin regimen. if you've had a heart attack, be sure to talk to your doctor ththe more i want to go back.e, the comfort, the colors, the flavors. a modern city, with history in every corner. ♪ how to expect an 18th century castle in the middle of a huge city. i don't know how to explain it, we just have to go back. mexico city, live it to believe it. >>> a member of congress who spent three decades as a practicing psychologist is proposing major changes to the way the countealsit mental illness. repu

bny mellon. [ male announcer ] what kind of energy is so abundant, it can help provide the power for natural gas. ♪ more than ever before, america's electricity is generated by it. exxonmobil uses advanced visualization and drilling technologies to produce natural gas... powering our lives... while reducing emissions by up to 60%. energy lives here. ♪ >>> now, the moment you have been waiting for. ready to reveal his top chart, the number one chart you need to see before 2014. carter what is it? >> it's nothing to do with me. here's what it is, if the market is up in the first five days of the year, something known as a january barometer, january for the month is up 76% of the time. that's going back to 1928. and then it ensues that of course the first five days are up, if january itself is up, for the month, the year is up 82% of the time. so we're going on vacation tomorrow. when we come back, those first few days determine so much of the probabilities of the year. here's a chart of the last year that we just ended now. this is the month of january. as we know, it was up 5.5%. with

bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management. i get times are tight. but it's hard to get any work done like this. then came this baby -- small but with windows and office. it runs my work stuff. ...and i can use apps like flipboard for news, or xbox video to watch the shows i'm never home to see... and i can still get work done at the same time. excuse me, do you mind if i... yep. ♪ honestly, i wanna see you be brave ♪ ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade. >>> we're back. three students were injured when another student opened fire. the shooter was intending to confront a teacher. the teacher was not harmed but the shooter was later found agreed what the sheriff says appears to be self-inflicted gunshot

bny mellon. >>> welcome back.ts on christmas day with a number of films in theaters, they include the "wolf of wall street" "grudge match" secret life of walter mitty. our next guest is interested in those films because he's in a unique space, runs the largest related entertainment [ inaudible ] joining us from kansas city is property and ceo and president david gray. thanks for being here. >> good to be with you. >> i'm curious to what extent you think the consumer is still spending at theaters is going to go to these movies tomorrow and what that means for your company? >> they're going to go, we hope and expect, spending very well. this year has been a great year across the entertainment recation space. skl our portfolio. a great year at the box office. box office started into the summer down double digits, 12, 14%, going to finish maybe up 2 to 4%. it's a strong finish. it's been a great holiday season. and we've got some strong finish candidates for the last part of year and christmas being on wednesday will

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