as i mentioned before the time when liz lowe as lead prosecutor came in with elder abuse unit. what i really have to appreciate how respectful her office was to those who could have walked away from my grandmother caregivers who could have walked away and got an better job, who stood out and staff and other friends. in particular, so many people in other completely different circumstances are actually revictimized by the system. the district attorney's office and liz lowe with elder abuse unit was so considerate of where we had been and what the ordeal as we began -- as the investigation was done that fall fall. >> how would having a dedicated elder abuse unit help d.a.'s office and law enforcement to capture recidivists targeting seniors very methodically? do you have additional it will you'd like to give why having a specific structure might be useful. >> i will tell you from my own experience when i started my job, there were no elder abuse cases coming into our office as all. part of my job as prosecutor of elder abuse was to do trains and elicit a response. as i did that,

liz: good action in the markets, off the lows.d to nicole and the new york stock exchange. oil ending higher for the third day in a row. >> reporter: that's amazing, that is the glint of hope where we saw strength and the energy names to go up along with it in the after-hours, 52.88. we saw it gaining and took the energy names up along with it which took the spotlight off the foreign issues that you mentioned. david: alcoa is no longer part of the dow but a bellwether. >> reporter: big downgrade at jpmorgan. jpmorgan talks about aluminum fundamentals and despite the fact alcoa tried the cost cutting and the like. the stock is down 5.5% for the aluminum maker. that's a big move. liz: the airlines flying lower today. >> reporter: that comes as no surprise, liz, they have the inverse relationship as oil continues to gain. it's tough for the airlines, and so oil goes up, the airlines sink, and some of the names are up 100% in the last 52 weeks, jetblue and southwest pulling back. david: as we are looking at, it was a triple-digit loss

liz: but it is rising. we saw a decent number. >> rising from astronomically low numbers. en you look at those reports, it says it is rising but really rising from nothing. there is so little supply. liz: do we need more building up? homebuilders coming out, to brothers, for example, they did very, very well with less supply. the economy is incrementally getting better, right? >> we need to see more new housing. but we need to see, came out with financing couple months ago, millenniums, that generation is buying, 27, 35, 40 years old, they need thedown payment. so they have this 3% loan out, i don't see anyone having success. liz: why not, dottie? are they missing the opportunity of a lifetime here? >> i think a lot of people don't know about it. but i think it is also new and has got some kinks. i think we need to watch that. tell you what is still hot, miami. liz: really? >> just came back. that is hot in a lot of ways, okay. liz: are the prices still reachable, attainable? >> well, they're really, if you bought there a while ago you're in. liz: yeah. >> they're just goin

liz: some of them are up 20% since the low in oil. dd, gives us the big, fat greek trade, as we're calling it. >> liz, you need to keep an eye on the euro currency. what we've seen in the last ten months, we've seen the currency bottom out. the ecb has talked and instigated its policy to buy bonds as well as what's happening with greece. greece has to exit the eurozone or doesn't get the bailout that puts a lot of pressure on the euro currency as well. it trades off the credibility. and both are suffering in europe. likewise, we're looking at two-year swaps today. two-year swaps are rising to levels not seen since 2011. a lot of that has to do with greece. some of it has to do with technical supply in the states. greece, any time you put a sovereign under the polite and say there's a chance of default or not bailing them out, that will cause a problem. liz: as we look at the european markets, a lot way to trade this. drr when i'm looking at right now is less than $2 away from its annual high of 58.35. right now moving higher by a full

liz: plain vanilla stuff, vanguards of the world with low fees which focus on s&p 500 which in itselfver past year. why not go into that and save yourself a lot of heartache right? >> absolutely should do it. one thing we know less you spend on your investments more you keep. 85% of active managers underperform the s&p 500 over the last three years. liz: yeah. >> that will continue. liz: you're paying them to lose money. that goes to warren buffett's theory, buy the index, right, matt. >> exactly. you can do it in etfs for five basis points a year. that is .05%. basically free. unbelievable deal. that is why those funds attract so many assets. that will continue, matt hogan, etf.com president. want to check out etf.com. good stuff. appreciate it. >> thanks for having me. david: the first u.s. oil refinery strike in more than 30 years and now it is growing. is this another bump to the road of economic recovery? what will it do to gas prices? liz: susquehanna makes a big call on one oil name, saying it could drop 30% more? we'll tell you that name. you need to know that straight ahead.

interest rates are abnormally low, and they're going to stay low for a long time. liz, you just made a point that sent a shiver up me where you said the nature sif starting to unravel. today the fed minutes come out and they're worried about changing the word patient because of what the markets may do. is there a way to put a sheet of teflon wrapped around a portfolio at this point? >> think about this, we've been spoon fed low interest rates. we've grown to be used to zero interest rates. investors are spoiled. the fed knows that they can't even say one word out of line. they have lost control. if they say one word out of line, they're worried about the bond market, they're worried about europe. they're artificially suppressing interest rates. i believe we've gotten so spoiled, so used to the zero interest rates, that's why the market is up. there's going to be a point where they can't keep the interest rates this low for too much longer. >> that's when we go back to church and pray. happy holiday to all of you. steve and jeff, great to have you. between the two of th

liz: even though the price of energy is really low?f the last pockets of bastions of value here because the energy price has fallen, oil prices have fallen dramatically. stocks have adjusted though. these stocks are cheap on a relative basis to the rest of the market, so we think that's a natural place to put money to work. liz: halliburton and baker houston, randy, what do you think? energy? >> i think the demand is always going to be there, and what concerns me is the supply. liz: lots of supply right now. >> yeah. right now excess supply in the united states, but it's going to control the market to a certain extent. you know, anything could happen that would diminish that supply very quickly if you had a terrorist attack -- liz: you don't want to depend on that? >> i wouldn't want to put an investment on that. liz: what's your wildcard trade, don? >> a wildcard trade? liz: if you had mad money and you wanted to put money into something you figure is a win or lose situation? >> right now i'd be looking at hedging my bets, so i would

low. i think market doesn't belief the fed is going to do this. jon thinks one thing, i think another. everything i hear is the same thing over and over again. lizll, inflation. let me get to elliott warren. i am looking at crude oil right now, again, it's the aftermarket session, but we're almost below $49 a barrel. obviously, low energy prices in the end, i think, might -- if you're weighing one against the other, better for the consumer. have we not seen the bottom here? i have more pro-oil here saying we're done, we're done two weeks ago and, apparently, we're not done. >> you know what, liz? we talked about this last week, and i think, you know, i think lower. i said that on thursday -- liz: how much lower? >> i still think we have to test that $33 point, you know? i think we have to test that -- liz: 3 be? >> yeah, 33. well, you know, you thought i was nuts when i said under80 -- liz: i think even though there's ice in the hudson river, teddy's hedging for his boat fuel right now. [laughter] >> yacht fuel. liz: teddy, where do equities, where do equities go from hear? at some point what spooks the horses? >> well, you know, it comes back t

low. we've seen so far this year 17 different countries cut rates. lizbank rate. >> central bank rate. we're making new highs but sentiment is high but not that many people are bullish. liz: they're missing out, aren't they? >> yeah. liz: j. consider, you believe the markets are going higher for completely different reason, x everything joe said. >> we do analysis from structural standpoint and from the tactical perspective. what we've seen over the last three months is a beautiful, healthy consolidation, filled with sector rotation. that to me, looking bigger picture, makes it very difficult to be bearish. rallied into november. consolidated major averages. look at dow jones industrial average, s&p 500. we've essentially gone nowhere. nasdaq 100 you just mentioned, transportation index, all in this sideways range for three months. from my perspective i see a big base ready to lift off to make new highs. more importantly we're already seeing breakouts in the mid-caps and in the russell 2000 small cap index, already making new highs, coming out of even bi

barrels a day, and the saudis aren't going to play ball, so i think the price of oil stays low for a while. liz do you pick them? how do you pick these stocks? i know you said you find investment opportunities by modeling relevant financial information, but what to you is relevant, scott? >> well, we look for companies that can earn over 15% on book, that have strong cash flows and balance sheets and that typically sell under a 13 multiple. so the market multiple today with the close is roughly 17 times expected earnings. by buying something with 13 or below, you build on what benjamin graham called the margin of safety. the idea is not to trade a piece of paper, it's to buy a business that has good characteristics. liz: now you're talking like buffett who, by the way, i don't know be you heard, we have him tomorrow in a fox business exclusive, scott, for the whole hour. we're going to ask him about his investment theory, 50 years running berkshire hathaway, right? as you look at him as an investor, how does it translate, in your opinion? i mean, he is considered the greatest american investor,

low area, a bottom. and this is what you see in a bottom. you see wild swings. some swings up. right back down. and that's what i see right now. lizis that a little dangerous for an average investor, allen, to get involved in? >> it can be. i like to put into different numbers for different -- i'm a buyer -- below that i would get short. i'm a seller up to 54.87. after that, i would get long. liz: teddy, are you listening to this? >> yeah. liz: teddy is suffering through the energy patch at this point. go ahead. >> when they break these type of numbers, it allows you to have some sort of risk management so you're not exposed to such wild swings. and it doesn't foreshadow the market. people thought crude oil was going higher. now they may want to sell. it prevents those type of swings. you're waiting for it to make those lower levels or scale into the lower levels. or vice-versa. liz: to me, this is a supply and demand story. everyone said drill, baby, drill. a bunch of permits were issued. lots of supply. opec will defend its market share against the united states by drilling even more. supply goes up. prices will remain low in my

low. [closing bell ringing]. >> right, about 30% off its november highs. liz: here go the bells on wall street. again records smearing the tape. we have dow jones industrials record. s&p, all-time high record. i believe staying with the russell 2000. the nasdaq clocking its 10th straight move to the upside. this is a big day for your money, if you stayed in stocks. why? janet yellen playing the tape here. david: listen to stocks hitting record high. autozone, home depot, darden, monster beverage, united health, aetna, the list goes on and on. all these are at record highs. liz: "after the bell" starts right now, don't move. david: today's action. we have larry rosenthal from rosenthal wealth management. he will tell us to boost profitability. he sighs buy europe. why is now is the time to jump in. larry shover, from sfg alternatives in the pits of cme. larry shover, let me start with you, do traders have any doubts? a lot of this, the word greece and europeans came to some kind of a decision here, did traders have any doubt despite the euphoria over today's decision greece will be right back in

liz: what's hated in the u.s. and what's cheap in the u.s.? >> right, i would be a buyer of u.s. stocks at 17, 18 times earnings because with interest rates so lowere aren't other places for mom and pop america to put their money. liz: john, do you agree with that? >> absolutely. my own portfolio is yielding 2.7%. contrast that to two-year treasury, 2% and 30-year treasury. my portfolio yields more than 30-year treasu 30-year treasury, and i think the u.s. market is attractive, and names that have been beaten up, the rising tide hasn't lifted all boats. we mentioned apple, we own apple, it's done great. think about ibm, which has gone the other way, a dog, but expected to earn 15, $16 a share and trading at 150 -- $155. that's a great bargain with 3% dividend yield. liz: i can jump in here, you like mdc holdings, that has 3.8% dividend. that's a home builder and originate loans. >> absolutely. mdc is attractively priced. and consumer confidence has been improving, the jobs picture improving, incentives for banks to make loans to homebuyers are being increased and you have a company like mdc is w a great balance sheet and i think the opportunitie

liz: that was a good play. we hit a low of 2015 on the vix. >> exactly.volatility is dropping out as obviously the market goes up. they usually run counter to each other. my loser, actually i think eked out maybe a gain for the week was, disney. my wife and i just went down to disney in, couple weeks ago. it was mobbed in february! i love the company. i think it is going to be a big winner. liz: but you had it as a loser? >> i, well, got ready for the show it was down a little bit. by end of the day it was up. liz: my winners and losers, my winner, had them in the last hour. he is cantor fitzgerald around bcg partners and ceo howard lutnick. not only did he beat out the cme getting a company called gfi under his wing but he called the dollar strength more than a year ago. it has jumped exponentially. my loser is actress julia louis-dreyfuss. i enjoy here on the show "veep." she turned down doing oscars. shouldn't have turned it down, julia. paul, gary b. david: she would have been good on the oscars, agree. >> i love her. david: getting down to the wire a

liz: maybe. let's get to lauren simonetti at new york stock exchange. dow at all-time high. vix at 2015 low. talks about names petting us there. >> if you look at the dow industrials, three stocks, disney, bowing, united technology. breaking out to lifetime highs. they're about 35% of dow es 150 point feign. unexpectedly this became a really great day on wall street. we were trading in this small and tight trading range. we broke out because of deal with greece and creditors. david: good sign when financials are doing well. today is one of those days. >> jpmorgan, bank of america, morgan, citi, up. someone% in some cases. [closing bell ringing] liz: overall, these cheers are for the broader market, david. what a big day. a record for the s&p. a record for the dow jones industrials. as walls of worry continue be toed climbed. david: looks like resolution part time for next four months what is happening in greece. the port situation is clearing up the we'll give you more information on that. interesting inn is day oil came down a little bit. >> nasdaq, russell, all green on the screen. let's g

down and the geopolitical risk, it seems to me that we're going to have low rates for a longer period than we would have thought. lizves this year? >> i think the fed moves but, you know, austan goolsbee came out with a piece yesterday saying that, you know, the fed move could be delayed because he actually thinks first quarter gdp could be slowed because of weather. we've seen that last year. that could happen again. i mean, i know everyone's excited about today's european gdp numbers, but the truth is .3% gain is not anything to be all that excited about. liz: and so much of that was lifted by germany. >> right. germany, 50% of their gdp's exports, and the dollar's week -- i mean, the euro's weak. that's helped them. so i'm very cautious here. liz: i sense that. and you've ruined my whole excitement about the records. we want the real story here, but i find it interesting considering that you've, of course, been the non-administration economic adviser of president obama. i have to ask you, we had the last three months of job gains have been the best paired together in 17 years. yes, we've stumbled on consumer sent

drops to 20 year low according to numbers from the census bureau. lizhe president has change america. can we lay blame for this fall in home ownership rate on president obama? liz: yes and here's why. is not the immaculate recovery. talking to wall street analysts they say the recovery is built on $10 an hour jobs, 30 hour work week and people have a lot of debt, basically a $11 trillion in debt, the debt has been rising. when you don't have hourly wage growth you can't afford a mortgage. what is interesting is home ownership rate is lower than it was in 1984 before fannie and freddie and the committee reinvestment act was fixing things like income inequality through housing. stuart: i came to america and live the american dream and part of the american dream was the home of your own. you don't it, you bought it, you lived in it, raise your family in it. that was america. liz: this is truly infrastructure spending that went awry. state sponsored infrastructure spending where we have a landscape littered with empty houses and a lot of delinquent loans. b

liz: in true rose conform, all prices checked twice a day via infrared thing, so what, you can lower prices if you hear some other company has lowhat's correct. we have digital price tags. so we'll go out to 18 main retail sites. we check thousands of our skews. we update them on digital price tags to make sure they're lower than somebody else. liz: i asked warren last hour, he said, liz, no one win undercut our prices. we won't let that happen. he says you do a billion in sales. >> high numbers. but i never bet against mr. buffett. liz: he is trying to get you guys to reach beyond your grasp. what does you say, great-grandson, come back here. you're still in real estate. you're turning it into a huge project in texas. what does it say about the values of your grandmother and what she built and what warren recognized? >> you know what. we have an amazing story here. the faith and confidence 6 berkshire and warren's backing is like a participate you can only dream of. liz: in the end you can say the immigrant spirit is alive and kicking. here you are four generations later still working hard. >> certainly. liz: congratulations. w

north of the bay looking at 60s and upstream maybe low 70s in the clear lake area. the seven day forecast and liz that's coming up in a little bit later. >>> thank you roberta. well out the door if you're heading to the bay bridge, this is the first day of the workweek we've actually seen a commute heading to san francisco. and it is stacked up now through the maze and the metering lights have been on now for almost an hour. but you will notice that drive time at the bottom of your screen. 43 minutes on the east shore freeway. it's because of this. that is the hot spot. westbound 80 at university avenue. there is an accident there blocking the middle lane. it is all messed up it is all jammed up from richmond and there was another report of an accident in the backups. so we'll have to confirm that with chp. and san jose continues to be another slow spot. southbound 101 at brokaw road. that earlier traffic alert cleared but it turns out one lane is still blocked in the southbound direction after a large moving truck took autoa fence and some of the guardrail. northbound in the commute direction, t

liz: what's interesting as we watch, chris, how energy has been beaten down certainly because of lowgy play through mlps, master limited partnerships. i know they pay great dividends, but tell me why i should be in these right now at a time when we have trouble moving some of this stuff, plus the price is very cheap? >> yes. cheaper energy means more demand for it, particularly natural gas. we saw from the accident in west virginia with the rail cars it's better to move it by pipeline, and i think the pipelines stand to expand, and those that have the capital to finance it are going to do very well. so midstream mlps make sense. liz: kippedder morgan has a dividend of 4.3%, that's double what we see with the ten-year treasury. great to see you both. chris bertelsen, all warm and cozy in florida, and jim tierney who braved it here, thanks so much. >> thank you. liz: well, five minutes -- make that four -- away from the closing bell. the s&p 500 teetering on the edge of its second record close of 2015. you need to see it best the number 2096 and change. we're there right now at 2097. a

liz slick spots overnight. that wind behind this front is brutal, look at what it will feel like tomorrow morning. three below in philadelphia a trenton. allentown, 4b low. you can see in the poconos it will feel like it is 13 degrees below zero, come tomorrow morning. coming up we will have whipping wind and then we will talk about record cold, a weekend storm, and a one day warm up, we have not had many of those around here, we will talk more about that when i crown you inside with the seven day. >> kathy, thanks very much. >>> stay ahead of the weather forecast by down loading the cbs philly weather app. check live radar get storm alerts and a whole lot more. find that app on itunes and google play. >>> we are waiting for the the demolition of this west philadelphia doctor's office coated from top to bottom in ice. the department of licenses and inspections was at the scene earlier at 52nd and locust and that building has been deemed unsafe. lets look live at that building, fire broke out there monday morning, the the water used by fire fighters, quickly froze and his remains that way. we will continue to monitor the the situation there and bring you

so that low end consumer is starting to feel a little bit better, but it remained scattered. liz >> they remain, i think, very price competitive. you have to be offering something different, and kristin touched upon it, experiencial retail, and i think that's why best buy's winning, gopro shops and i think new dyson vacuum shops -- liz: you like those, don't you this. >> obsessed. liz: best buy is something, kristin, that he really likes. do you have some favorites here that you think will wrestle that cash that people do have from wallets? >> well, i'm obsessed with dyson, so brian and i have to -- [laughter] liz: i have been too. >> so what do i love right now? well, about 100% of u.s. footwear is imported, so i'm all about the footwear. i'm loving the christian lieu bhutan, that's in order strom. that's, you know, we'll figure it out. who do i like? i like chipotle, i like anything millennial. i like pabst blue ribbon. hoover. liz: you know, pabst blue -- >> i think everybody has to watch denny's. they report on wednesday with. they're america's truck stop and also a place whe

low awareness in terms of the category. only 3.5% of households have an installed product. it's an education process. lizext house will have one that runs on natural gas, not gasoline. because we know what happens when you run out of gasoline. gasoline degrades as well. what's driving your commercial business? >> in the fourth quarter, it's driven by oil and gas. obviously, as we start 2015 here, energy prices going down, the expectation, that will come off a bit. we're seeing natural gas -- also being used in that marketplace. the flaring regulations in these frac sites are creating a situation where you can't flare as many gas. they want to turn that into power. and put that power back into use at the site or back into the grid. >> we're showing pictures of boston. i know they don't have chain linked fences. but are you getting a lot of boston business this season right now? because they have had two years of snow in two weeks? >> yeah, it's amazing what's going on out there right now. we watch all over the country in terms of outages and where they can happen so we can position product where it's need

low 70s peninsula. east of the bay 6 degrees in livermore. north of the bay 72, santa rosa. hey, lizy forecast including your weekend still straight ahead. >> thank you. >>> so out the door, if you are traveling on bart and planning on riding right around that daly city stop, pay attention to this. there's about 10-minute delays right now. there is an equipment problem on the track. sounds like it's in the sfo and millbrae direction so the red and yellow line you see on your screen there. again, 10-minute delays daly city out to the airport. the rest of mast is on time. travel times in the bay area, westbound 580 the slowest spot. no surprise. but fog will slow you down. it's jammed up from 205 through the livermore valley straight past vasco now. and at 5:33, no metering lights but they will likely be turned on here in the next 10, 15 minutes. you can see the delays really beginning to build in the cash lanes backed up to the very end. parking lot. that's your latest "kcbs" drive to work. back to you guys. >> all right. thank you, elizabeth. >>> parents and students from catholic hi

low as we can go. >> these are things they do at home. by the way i'm not pregnant,. >> silly. >> for that day liz told me before, it was like game day. >>>> i she's ready. watch, running class swimming. >> what do you want them not to do? you said like not putting their head down? >> well, going down and up such as burden of proof east, pushups, going down in a push up like there is i get down low, that bellly hit. as soon as i come back up, my heart rate is up and down, up and down, and that's what the doctor does not want. >> okay. >> one of the things she said she's doing, by the way, you're still a, keep waiving we love you, is that she has been walking every day. >> yes. >> you said just moving. and she said like she can't sleep, hasn't moved during the day. >> she is doing all sorts of movements, that she would do. >> she makes shire she burns calories like everybody else. guess what? right after pregnancy, she will go right back into it. >> and we talked about the arms a little bit. but you say it is not just important for them to look good but because -- do you have hold that babe. >> i yes. >> gets bigger dale. >> i yes. >> and

liz: i've been so beechwood many times. thank you, adam shapiro. david: subprime loans, remember them? subprime loans to pourers with lowredit scores, they reached highest level since the financial melt down? should we be worried? time to bring in the panel. larry shover, john tammy and our own cheryl casone. are you worried, cheryl? >> absolutely. one of the things we've seen, we should make a part, is mortgage debt which i think is a good thing that means ownership rates go up, student loans, auto loans, americans are getting into trouble once again. this is a problem for the economy rand in particular for nation's banks if we see default from nation's consumers. people are taking on risk. i'm not sure it is good thing. david: larry, 40% of the loans, in 11 months of 2015 went to subprime customers. is that a problem? >> absolutely a problem. a drag on growth, a drag on everything. keep in mind, 2014, age group 35 under had negative savings rate of 2%. combine it all together, if we don't get substantial growth in the country or heavy dose of inflation, this could spell trouble to our market like it has so many times

liz: cisco is too big to move sometimes. kind of smack in the middle of its annual high and its annual low. let's go back to tim. cisco is a large cap. define fairly valued or fully valued? people say the market is looking a little bit fully valued and maybe rich? >> yeah. well i think, part of it is, obviously the earnings. right now if you look at the s&p 500, you're getting an earnings yield, profit yield of a little under 6% which is not far off the historical norm. when you compare that to what's the different alternatives to stocks like bonds and real estate. bonds earning two, real estate and rental pass-throughs earning maybe four, stocks at 6% yield look fairly valued. they don't look cheap anymore. they look fairly valued. i think we should have average returns moving forward for equities. we see greater values international like europe and some other areas trading at pretty substantial discounts to comparable u.s. companies. overall we expect higher returns coming from there. david: todd, let's talk about the economy in general because a lot of these companies depend on the health of the economy. you

i'm still calling for very low interest rates this year which augers very nicely for the stock market. you're starting to see that change in market sentiment. lizjust as richard fisher said it will happen this year, he believes it will, warren buffett told us last wednesday live on fox business, i don't see how they can raise rates this year. >> right. liz: and then other people, business people weighed in. but i would, you got to go with the guy on inside of the fed, right? >> i said they may not raise rates until after the 2016 election. that is how aggressive we've been on the skybridge research team. the data does not suggest a rate increase. you get a couple more wage movements like we got last month, there probably end up raising the rates. they have got to signal that to the marketplace. they have a huge credibility issue here as well. they have told people they will raise then. they don't raise them, people will say, what credibility does the fed have. david: on the other hand as liz was saying there is tremendous pushback for people who have vested interest in a dollar that is not quite as strong as the dollar is now. with buffett, a l

low 70s tuesday. goes what rain and wind friday. daily chances of rain over the weekend and more on that still straight ahead. liz? >>> okay thank you. what did you call it a super bowl hangover? >> yeah you could have one of those. >> yeah after a while traffic is really light and now we are getting one of the first accidents, not slowing any -- seeing any slowdowns yet. if initial reports around the dublin interchange westbound 580 at 680. we'll watch it but it sounds like two lanes may be blocked. so they be kind of a rough start to that morning commute if you're heading into pleasanton. we'll have the update in the next traffic report. here's a live look at westbound highway 4. 62 miles per hour approaching a. street. so the rest of the bay area is looking great. on thissered early monday morning drive. look at the -- this early monday morning drive. look at the bay bridgement not much of a delay at all and you can see the approaches in the east bay, 24, 580, highway 13 and 880 are all just fine. all green on the sensors so far. but we'll watch that one accident in dublin. >> sounds good liz thanks. >>> now hu

lows and lower highs for last couple weeks. this breakout to the upside look for more upside to stocks. david: charlie smith, as liz said, target for 2013, excuse me, 2013. i'm two years behind, 2015, is 2100. we're only 12 points away. you want to revise that the all based on what is happening? >> we start to see some deterioration in 2015 earnings estimates mostly because of the energy space but we're looking for a is 23 number for s&p 500 earnings this year, 17 multiple on that gets you right where we are right now. we do have cyclical bias in our portfolios. david: you think we'll drift from here on out rest of the year? >> i really do. i think we're not going to see strong enough broad-based earnings growth to push things up. the risk i think p-e ratios expand another point or two and we could get to maybe 2300 on the s&p but we do have a cyclical bias in the portfolios. we want to own businesses that are linked to a stronger economy which we're seeing. liz: hold on, cheryl casone has cbs earnings. how did cbs do, cheryl? >> we have cbs. first entertainment company from 2014. beat by a penny earnings per share

low quality rally. part of the stocks in the s&p accounted for the market. to grow, we have been looking at areas outside the equity market to grow capital. liznce risk is an area that has no correlation to the stock market and if you buy a broad reinsurance book or several reinsurance books or a percentage of the books, then you can have two or 3,000 contracts of reinsurance risk. one has no correlation to other. wind in florida doesn't create a hurricane in texas and it doesn't mean that katy perry is going to cancel a concert, so those have nice risk of return. and health care royalties is another area we're in. liz: health care royalties and reinsurance. alan, what about you, a region or simply like equities possibly in europe? >> well, we've been focused primarily on europe. we do think that the effort or the initiative in japan is going to take hold. we're watching very closely in the emerging markets to see whether or not additional money ought to go there. we are -- there are a lot of risks basing the markets as we go into 2015. and the, one of the things that we're monitoring very closely is how much china is slowing. so, that's been

low. even though we were lower today, look at the products. look at heating oil. there were some delivery problems, that front month spread really blew out -- lizah, 3% here. >> yeah. because it was a delivery problem there. but if you look at the cracks, you know, the difference between the product and the crude price, it has really rallied the last couple of weeks. and i think that over time will keep crude oil from really falling out of bed. my opinion. could be wrong but careful. liz: somebody who knows what's going to happen in december of 2016 -- [laughter] i want to know that person. i mean, chris robinson, are you that person in chicago? >> no, i want to, i i want to know what's going to happen tomorrow. [laughter] liz: i know, me too. >> so, no, just watching here with the things that we've looked at, you know, record highs. a lot of bears out there, and i think we're trading a 5% risk -- liz: do you think it's realistic that suddenly the dow is selling off because one analyst at goldman sachs said boeing is a sell? >> you know what? at the end of the day, it doesn't matter. sometimes anything can spook the markets. when you're at reco

liz is standing by. roberta has your weather and we have ♪♪ ♪♪ ♪♪ ♪♪ everybody deserves $73 fares. because wedding season can get expensive. book your lowst.com. lowe's presents: how to put your foot in your mouth. man. wish my yard looked like yours. hey, the grass is always greener on the other side of the... sorry! now get the black & decker® 20-volt trimmer for $79 at lowe's. >>> rise an shine at 5:43. cloudy skies, they are acting like a blanket not as cold this morning as 24 hours ago. temperatures right there boot bay bridge in oakland at 49. san francisco 53. going up to highs today in the mid- to high 60s. >>> 5:44. some little league baseball players in concord have nowhere to practice because the company that runs their playing field is in the middle of a labor dispute. 15 ballparks all locked up in the city of concord. they are owned by the tesoro refinery where workers as now are all on strike. >> we put a lot of work into it prior to, you know, the fields being closed and now we are supposed to start kids were supposed to be out there and practicing and getting ready for the season. >> the first nonpractice pitch of the le

lows. the stocks have picked up. halliburton picked up. even with the selling exxon is still higher than it was after originally selling. it looks to be pretty good. i look to buyer. liz: michael wall, you're playing oil with side play, master limited partnership, kinder morgan. is that to make sure you're in, you don't get hit price fluctuations and you get a great dividend. >> that is a great point, liz. don't matter what car is driving on the show, whether a chevy or ferrari, you will still get the tool. you have 80,000 miles of pipe. they have shipping a bunch of different things. one of the things interesting they had additional $11 billion in january, liz, set for new investment in partnership, that sort of thing. that is kind of a sideways play. that doesn't matter what the price of gas or oil, we'll make money with opportunities on yield and based on shipping what is out there. david: kevin, old expression, beauty is in the eyes of the beholder. much is the same about earnings. i heard some people like brian wesbury talk about how wonderful earnings were this quarter. not everybody adegrees with him. that is very important calculation. what do you think about