a sentimental value.erty. now they're trying to carry that over for pets and dogs. it could go to cats and fish and everything under the sun. so i don't know. >> fish? >> i mean, the great state of texas, who puts to death more people than any other state in the country has a sentimental value statute and now they're going to try to bring this on for dogs. there's a lot of dog lovers out there. someone on that appellate bench is a dog lover. i think this thing's going to stay for a while. >> avery, if the court rules for the medellins, what other kind of cases does this open up the legal system to? >> well, they won't. it's not going to happen. >> not going to happen. all right. >> the court of appeals indeed said that you can recover sentimental value. you know, if i love my dog and i think it's a million dollars, i'm entitled to it. the american veterinary medical association, listen to, this joined in in the texas supreme court, there were arguments this week, and said, look, the sentimental value thin

how will that swing sentiment? >> i don't think it's going to swing sentiment that much.ber, this is the slowest economic expansion since world war ii, but stock prices are up 100% from the lows in march of '09. in other words, financial markets have become increasingly divergent trt fundamentals. so it can make some headlines news. it can knock stocks down if we get a disappointing report because we're near resistance in the s&p 1460s. but after a week or two, it shouldn't have much of a lasting impact. >> with divergence from the fundamentals because of the -- also because of central bank action, as well, right? and now that providing inflation doesn't go higher, to 2.5% or so. is that how we should use the jobs picture in terms of how it impacts the fed? >> pretty much. but the fed, again, is just a tailwind for this. the big action, the real money flows that have driven this credit boom are coming from our nation's pension funds, endowments, foundationes and insurance companies. next week starts the annual surge in corporate bond issuance that we see every january. to

elsewhere, shares eased by about the same as fomc sentiments weighed on sentiment. in hong kong, weakness in mill and blue chips dragged the hang seng lower by .3%. the shanghai composite failed to impress on its 2013 debut. around 2.2 trillion yuan worth of shares will access their lockup here in 2013 raising liquidity concerns. the latest pmi data says china's services sector continued to grow last month, but at its slowest pace in more than a year. understand use's sensex is still on the move by .1%. >> sixuan, thank you very much, indeed. the ftse made gains yesterday, close to a fresh 52-week high. still above 6,000. the dax is pulling away from its recent highs. down 8 points tt moment. the cac down a 1 percent yesterday. the real move, though, there was discussion about whether the fed should stop some members expressing whether they should stop continuing buying assets this year. a bit of consternation. had a big impact on the dollar and treasury yields. treasury yields hitting an 8-month high. 11 .92%. we're above that at the moment. gilt yields moving high

and through that past tragedy and catastrophe and our response to it, we flipped the sentiment and it was ultimately pro-american in sentiment and we decided to create sustainment missions to sustain that goodwill and that's where the mercy taking off as it does out of san diego and goes around the asian pacific rim. that is why the comfort takes off and heads down to south america, to show goodwill, not to be the american country that comes down there and shows people how it's done, to be the united states' ambassador of medical care that wants to partner with these nations, learn about them, learn about their illnesses, learn about their afflictions and learn from the people in the area how we can better support and partner with them. build bridges before they have to. if we have had twice the number of aircraft carers in 9-11, if we had twice the number of marine battalions in 9-11, would that have stopped it? it would not have. but maybe, maybe through humanitarian assistance, disaster relief, global engagement, the ability for us it reach across borders and change minds, maybe th

i want to also continue to express my very strong personal sentiments about violence in our city and what we can do about it. many of you have heard from me in the past several weeks in various other events where i've expressed that sentiment. before city agencies and before community leaders that i was not satisfied about what we were doing to prevent violence. yes. i did think about and talk about a lot of people across the country and other may ares about the mayors about the stop and frisk program and was admonishd and advised there could be a better direction in the same effort of reducing effort -- violence in our city. >> >> you often heard me even in the reflection of the great success that our city is feeling on the eve of having a major sports team win the world series or now a football team that has become very successful and certainly a basketball team that desires to come here and create jobs and make strong commitments to our communities, even in the face of all these technology companies that are coming here and helping us uplift our economy, even within that success,

think what is true is state right sentiment was widespread. some sympathy for secessionism was sufficiently widespread that the lincoln administration was really worry evidence about it. remember, california and oregon are very far away from the centers of power in the united states. this is one of the reasons that lincoln wanted to build a transcontinental railroad once the civil war begins, because he wants to extend the reach of federal authority. there were fears that there would be a west coast -- i mean, if you think about why did lynn do what he did at fort sumpter in south carolina? part of the logic was not just the states that had already secede from the union but the prospect of the country as a whole falling apart if the federal government didn't assert its power and its authority. the west coast, there was some secessionist sentiments in the midwest, talk about new york becoming a free port of entry like in germany. so we look back knowing the result of all this, which, of course, led to the emergence, really, of the nation state,

i'm sorry, investment sentiment, why change ceos?with with regards to the investment. i think that, you know, mozambique was very much usual the following and might say, it wasn't made up. >> so i'm reading between the lines. i think he stood up and said, okay, this looks like an acquisition and it's my fault. >> what about dividends? >> i don't think it affects dividends. it's a long cash charge. the story on dividends really is about cap ex for cash flow generation and that will be driven by iron ore and cap ex plans, which are -- right now they're high. right now cap ex is high, but it should come down in the next couple of years. >> and iron ore got whacked overnight. it's down 5%. what happens now? >> i think that's the main reason that the stock is down today. back in september, we saw the iron ore price go down to about 87, which is well below the marginal cost of production which i estimate to be around 120 to 130. the increase from about 87 to about 160 was driven by fair value change which after a period where stocks were f

what we tend to find is correlations between sentiment on the social networks.rice, but you find the sentiment we find from twitter actually proceeded movement. liz: slickly drill down on how you're going to make money. >> we make our revenue by trading volume. clients from around the world, retail investors and traders can open an account with us for fr free, there's no sign-up fee, no monthly cost, they only pay when they trade, so every time the trade they pass more fees, we generate our revenue from the trading volume. liz: i like three, certainly, but i guess the final question would be what do you hope to really grow from this? is it an opportunity where you might be able to capitalize enough to take this public? >> potentially. the big area from social networking a lot of value, and obviously focused on the financial services industry, and it has a great prospect for the industry as a whole. providing all sorts of information to an investor or to a trader making a better informed trading decision. liz: i think it is very fascinating and would like entrepr

which way do you think the public sentiment swings if there is a government shutdown? >> i think that pat toomey is confused. it's a continuing resolution. if they don't fund the continuing resolution, the government will shut down. if they don't lift the debt ceiling, the economy shuts down. not only the u.s. dme, maybe the world economy, and the consequences are drastic. bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers, everyone, president obama, harry reid, everyone knows we need significant spending cuts. it's about time be act maturely, find out the spending cuts we need to make are done in the least onerous way. we also need to raise more revenue. the fiscal cliff raised 600 billion in revenue. we need to raise another $600 billion in revenue and need to find a way to dos that as well. >> do you agree with that sentiment? constantly hear from people who say the spending is out of control and if this is spun as republicans standing up to all of the spending and saying enough is enough, i think the wind could be at th

but partly because of the public sentiment against the particular form of fireman.pany the size of walmart's broad, frankly geographic platform, there aren't that significant -- they're not that significant a source of sales and profits. >> but the sporting rifles like the ones at newtown -- it's interesting because i hoped to interviewer the president of walmart about this. they were making some other initiatives, talks about -- about hiring veterans and some -- they knew i would ask about guns and they weren't really interested in sitting down and talking about guns. nice to see you, wedbush securities. >> thank you. >>> coming up, you've been saving diligently for your children's education, a golder ticket to a college education. i'll tell you how your kids can guarantee a return on that investment. oh! oh! ♪ what do you know? oh! ♪ bacon? -oh! -oh! oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your story for a chance to win a progress-oh! makeover in hollywoo

level of sentiment that causes us to focus even more on what we can do locally. in fact, this higher level of sentiment, as you'll hear from the police chief, has even caused one of the highest rates of gun return. certainly we paid some money for that, but he's going to tell you there are some individuals out there, in light of sandy hook, that returned their guns and without even asking for remuneration of those guns. and he'll explain that level of detail. but it was the highest level of gun return this past weekend that we were honored to share with our community partners in making sure that we get these guns off the streets. two pieces of legislation that we are introducing to the board of supervisors with the support of our police chief, our health department, and certainly being led by supervisor cohen whose district has experienced an inordinate amount of violence throughout this year. we talk about it all the time. what can we do? for one, the ammunition that has been designed especially by law enforcement for military use has no reason to be in our home

which way do you think the public sentiment swings if there is a government shutdown? >> well, i think pat toomey is a little confused, mike. it's a continuing resolution. if they didn't fund the continuing resolution, the government would shut down. if they don't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy, and the consequences are drastic. look, the bottom line on this, michael, and you know this, is nobody should be threatening or rattling sabers. everyone, president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the american people. but spending cuts we need. we also need to raise more revenue. the fiscal cliff only raised $600 billion of revenue. we need to raise another $600 billion of revenue, and we've got to go about finding a way to do that as well. >> congressman, do you agree with that sentiment? i constantly in my role as a talk r

he has his own view, his own sentiment. why this now? >> we had two objectives.r the question we get most frequently from people like you and from media people, basically always asking us what's the sentiment of the retail investors? a lot of people look at our result, whether it's trading activity or et cetera and sap that's the barometer of the retail investor. we've used surveys in the past and surveys basically give you what i would consider stated importance, which is a marketing concept. marketing teaches us it's also important to understand actual importance. this is really changing from what they say they're going to do to what they're actually doing and how they're positioning their portfolios. >> who are you going to track most specifically? and do you think it's going to give us a better overall read on perhaps not only how investors feel about the market, but about where the market itself may actually head? >> i don't know about it will give you an indication of where the market will head, but it will tell you on a relative basis, whether retail inves

the move to help minimize anti- muslim sentiment. ,, well, well, well.ng up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then, by george, that's all we watched. and we liked it! today's kids got it so good. [ male announcer ] get u-verse tv with a total home dvr included free for life. only $29 a month for six months. >>> a new ad campaign is looking to take the stigma out of the word jihad. the council on american islamic relations says the campaign on muni buses will show the word means more than violence. it means to struggle and the ads will show how a jihad can mean things like trying to lose weight or being a better parent. backers of the project say they're encouraged by the reaction. >> the advertising campaign was actually born as a proactive response to a lot of what we called anti-muslim sentiment and islam phobia spreading across the country. the response to these advertisements has be

so that's a very, very high level, and the indicators include monetary policy, economic cycles, sentimentluation. the valuation indicator is very bullish, suggesting a 10 to 15% gain in the market over the next year. >> tom: let's talk about that valuation part of the market here, because we're seeing the valuation with a backgroubd of tepid economic growth. how do you square those two? >> well, we see economic growth of two percent this year. the earnings gain will be modest. it will only be 5 to 6% per the s&p 500 operating earnings. that's a level of about 105. so give that a serveative pe ratio of 15 to 16 times and that gives us our 10 to 15% gain for the overall market. but if you get in the right sectors your gain could be twice that much. >> tom: and you brought those along, consumer discretionary being one of those sectors. xly ticker simmel exchange traded fund. you see more gains. >> i do. the reason is because consumer confidence has turned up, and we have lower oil prices and housing is doing very, very well. so this should bode well for this particular etf, and some of the s

nine year old democrat will replace hillary clinton whose legacy infuse the rise of anti-american sentiment worldwide as well as tough times with russia. you can takes a look close look into kerry's political pots to get more perspective on what to expect from him in the future. the evolution of john kerry's views has been quite remarkable so remarkable that it's hard to pin where exactly his standing on a number of issues he built his career on the reputation of a name to war advocate a vietnam veteran himself he was very vocal as a spokesman of the vietnam veterans against the war back in the seventies then in the eighty's he challenge to the reagan administration's policies on central america in one thousand nine hundred one he voted against the us involvement in the first gulf war but later over the years john kerry has morphed into a pretty much mainstream politician with a record which casts a shadow on the antiwar image that he's been trying to build for himself in two thousand and two he voted to authorize the iraq invasion and since then he has made a slew of conflicting statements

how does that affect sentiment?> to what extent the cfos think there are things the government can do which will improve the environment for expansion. what was interesting is that cfos are relatively happy with monetary policy. >> they tell us credit is lower than it has been focus five years. but the concerns seem to be around things like infrastructure, energy policy and immigration and in particular, the general level of regulation. so what cfos are saying to us is what worries them are things more around the microsooidz side of the economy. >> business hasn't really come up with a view for that, hasn't it? >> we'll see what comes out of that. >> thank you for joining us. if you have any thoughts or comments, please e-mail us, worldwide@cnbc.com. >>> we're getting more details on japan's xlumtry budget. kitadai-san, hello. >> hello, ross. the government has compiled an outstanding for fiscal 2012 valued at more than $14 billion. the new liberal democratic led government plans to spend a large portion of the fund

. >> in terms of sentiment, for you, this change in sentiment is bullish? >> i'm a little contrarian. >> everyone is negative. >> i think the set-up is treacherous. everyone wants to game it and play it. here's the risk. they are expected to have the first q1, the quarter just ended declined since 2003. that is their holiday selling season. expectations are very bad. aside from that, you have a situation here where people don't want to own the stock. so to me the sentiment shift sets up for a pop in the stock. i think the pop is sold and the stock does not see new highs for a long time and probably stuck somewhere between 400 and 550, 575 for a while. >> for a trade dan is bullish and using a call butterfly or call fly. this structure is tricky but can offer a big payout. you buy one call then sell not one but two calls against it to reduce costs. to protect yourself you buy an additional higher strike call of the same expiration. this may sound complicated, but the goal is simple. you want the stock to go just below the strike of the two calls that you're

>> social media today was a great way to track the sentiment, the change in sentiment around facebooks. according to stock to its social sentiment turned slightly bearish before the event, reflecting an expectation of sell the news and bearishness around facebook increased by 40% during and after the product announcement. and now tracking the social momentum, the volume of messages around facebook, that increased 400% in today's trade. let's get straight to our tweets and messages now. stephen harris tweeting, today's move, shocking. a much hyped announcement related to facebook failed to meet market expectations. does it remind you of anything? so, melissa, you have people comparing today's announcement to facebook's ipo. >> it seems like -- >> that's not fair. >> why is that not fair? there is all the hype and they come out and it lands with a thud. they've got this product, it sounds great, but it's beta and we don't know when it's going to be available on mobile. >> facebook is growing their revenue 40% in terms of advertising. their growth into mobile is undisputed. we don't know

>> he made that bearish call before the sentiment took place. you're not going to toptick this one. it's that simple. but it is going to have its day. >> dan is right when he says you're trying to pick a top. i don't want to pick tops. i'm fine not catching the first 10% of the move down. i'll catch the rest of it. >> what do you get when you pick tops? stinky what? fingers. >> trade school. one more time. are you nuts? the stocks acts like helium and could expose you to unlimited losses. mike's put spread offers a four to one payout. we'll see carter later in the show. >>> up next, it was the battle heard round the world. >> i appreciate, bill, that you called me a great investor. i thank you for that. unfortunately, i can't say the same for you. >> i was concerned about dealing with carl icahn because he unfortunately doesn't have a good reputation for being a handshake guy. >> when we come back, we'll ask the traders to weigh in on who won the battle of the billionaires and find out how you can make money. stay tuned. back after this. ♪ [ cow