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tv   After the Bell  FOX Business  December 31, 2013 4:00pm-5:01pm EST

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cheryl: let our viewers know, twitter's stock is actually doing better right now. [closing bell ringing] david: the bells are ringing. is that the real confetti. i think that is the artificial -- no. they can do anything with smoke and mirrors on wall street. cheryl: the dow is up 26% david, year-to-date. david: what a year. depending on how you judge these things, whether it is by dollar amount, inflation adjusted percentage, this is the best year either since 1995, 1996. you have to go back a long time to get a year like that. cheryl: we were there. david: the question whether you can sustain it into the year to come. we'll have a lot of best bets coming up from our investment analysts throughout the hour including about stocks, bonds, commodities, a special segment on oil. we have a lot of fun coming. fun on wall street, not a bad way to end a great year. cheryl: nice numbers. the dow is up 72.
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s&p and nasdaq up 22. david: "after the bell" starts right now. cheryl: you can put this one in the books. 2013 is going to be over at least for the traders, all of you out there. it was a record year for wall street. here are the numbers once again. i was saying for this. 26% gain for the dow, unbelievable for this year. best performance since '96. 5record highs. today was another tacking on 29r since '97. the index is now up 172% since the bear market low back in 2008. david: the best performing index of all of them was the tech-heavy nasdaq which rallied more than 38%. this is the best annual gain since 2009. while the stock market did extraordinarily well it wasn't all good news for commodities. gold of course, a big loser here, ending the year at $1202
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an ounce. the commodity is down 28%. this end a 12-year bull run. copper, meanwhile the prices saw small gains but ended the year down 7% as worries over china's economy lingers. cheryl: you know oil. you just mentioned it. oil posted gains for the year, commodity rising 7.2%, largest gain since 2011. settled the year at $98.42 a barrel and with talks of tapering and improving economy look at the 10-year treasury, david, ending the year at 3.03%. 1.76% at the end -- david: almost double. cheryl: highest level since july '11. it was a big year for treshtries. david: it was a big year for interest rates on the treasurys. the question is whether it would slow down the economy if that rise continues particularly for housing. cheryl: as we close out the
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year, joe durant is here. hi, joe. we have larry stover, sandra smith standing by at the cme. sandra, i want to start with you. the lady that does trade, one of my favorite segments on fox business. what was your favorite trade for 2013, sandra. >> i brought on trader and trader said, pull up the broadcast, remember on the trade we talked about gold was a sell when we saw it at, lofty heights above 1600, $1100 a troy ounce and what a far way gold fell. worst performance for gold in 32 years, guys. a lot of people are talking about maybe gold sold off enough at this point. when all the major investment banks calling for commodity prices to do so horribly in the new year, maybe they could be a big surprise. i do hear a lot talk about that, david and cheryl. maybe commodities will emerge. as people get sick of stock prices in the new year, maybe they start to take their dollars
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to put it to work at some oversold, undervalued commodities. david: larry shover, let's talk about the 10-year interest rate. we saw it double this year. if it doubles again by the end of 2014, that means interest rates close to 6%. is that a possibility? >> well anything's a possibility, david but it is outlyer in my view. i think when you look back to gdp, first quarter of this year, sub2%. now we're talking about a 4% gdp it, makes sense for the 10-year yield to creep higher and that's what it's doing. i think the important takeaway ask that the two-10-year spread, has rallied by 265 basis points this year. that is a green light to the equity market. that believes the market believes in tapering, not tightening. i'm calling 3.5, 4% in the 10-year-year-old by end of 2014. cheryl: that was a big story for 2013. we look at the year that was and
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year coming up, certainly we can't keep these double-digit gains going, or can we joe? >> i think we could have another good year especially the beginning. we still have underequity invested by most retail investors. they have missed a lot of this recovery. started coming in more aggressively at the latter half of the year. i think they will look at 401(k) statements, people typically invest whatever did best last year unfortunately. not always a great strategy but one a lot of people use and so i think where we're concerned a little bit is that there will be a little bit of overfrothyness early in the year and interest rates are higher and the economy is definitely recovering but, i don't think that last year's winners will be next year's winners necessarily. david: joe, what about foreign markets? wave seen a lot of people come in and say look, it has just about bottomed out. you won't find any particular winners starting from zero to 100 in the united states anymore but you may find that in europe,
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what do you think? >> if you have u.s. stocks you already have international exposure. we're big fans of emerging market, not so much directly investing in china and those countries but in the consumer if it is growing and middle class being created. david: be specific, joe. that encompass as lot of countries. are we talking mexico, indonesia, countries like that? >> i think you can go almost anywhere where they are creating goods for us to buy. no question the u.s. economy is growing faster than it has in a long time. producers can be from about bra sir, russia, china, indonesia and korea. but the best way to do it is invest in etfs like econ that invest in the middle class in those countries. countries that supply them they have more disposable money and more successful we are. an area that underperformed this year which is interesting for the future.
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we think people need to make sure they're not overly invested in u.s. stocks because they so outperformed the rest of the world other than japan very likely they need to look at rebalancing their portfolios a little. cheryl: that was very specific answer. glad you got to all those countries. larry, look at year, the last month of trading volatility has been low. with all the good news, larry, are you orried about the vix really popping in 2014 and kind of the brakes getting hit if you will for the market? >> we might see temporary spikes in the vix but you know i look at the market as a whole. you look at fx volatility, energy volatility, metal volatility, it is all very low. it is in the sub10% tile as judged over the last three years. that tells me we're in macro calm right here. could we get as you little spike in the vix? absolutely. i think trend continue to be lower because the economy is healing and we'll march higher just like we did this past year. david: hey, sandy, let's talk about warren buffett's latest
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bet. he is betting on pipelines. it's a little complex, the piece of phillips 66 that he is buying involves polymers and things. bottom line stuff that makes pipelines run faster and smoother. what do you think of buffett's bet on pipelines, do you think there is money to be made there? >> well, bottom line he is showing there is reason to believe, there's a lot of bullish room in the energy market, particularly at a time where we're seeing energy production in the form of oil at more than 20-year highs in the united states right now and even with oil, production at 20-year highs in the u.s., we're still seeing $100 oil. we're talking about a surging global economy. the more oil and gasoline needed, more guys like buffett with money investing more and more in energy. while mr. buffett is always talking his own book and always has his big plans and you never know exactly where he is going with things, this does show that he truly believes we'll continue to see a bullish situation for
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energy. >> what a fair and balanced look. i like that. cheryl: joe, really quick, staying with warren buffett and his strategy, investors like warren buffett always looking for value. is that going to be a win in 2014? >> i think so. what you've seen when you have a low-growth environment you go to growth stocks. i was on your show several months ago and suggested that it was a move to growth stocks which turned out to be reasonably accurate. i think now, when you have broader growth you go to more industrial names. and more value-based names. so i think it coo be a very good period for that. i just share with you, when people should be most concerned when everyone is leased concerned about risk. right now, i'm kind of concerned that we're due for a little bit of a shake-up that will rattle some cages. david: beware of too much optimism. it is new year's' eve. we'll be optimistic anyway. wonderful, wonderful segment. happy new year's eve everybody. cheryl: thank you. larry shover, we'll come back o you in a few minutes for s&p
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close. david: see you around guys. cheryl: oil hovering near $100. we have your 2014 outlook and our guest best way to play oil is buying a different commodity. david: also washington, d.c. played a big role in the markets this year with issues like obama care of course and the debt ceiling shaping the landscape for a lot of businesses. we'll look at issues that will dominate 2014 and their impact on your money. meanwhile, tell us what you think about all this. what is the most important decision out of d.c. next year that could impact businesses? dealing with oil pipelines perhaps, something with obamacare. whatever you think is important, let us know. log on to facebook.com/afterthebell. we'll read your answers at the end of this hour. ♪ [ male announcer ] once, there was a man
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find a store at tempurpedic.co cheryl: nq mobile getting a boost for the second day in a row. let's head back to lauren simonetti on new york stock exchange. lauren, you're almost free. >> good way to put it, cheryl. time to pop open the champagne. they are a chinese mobile internet provider got a nice pop today, better than 5%. there is a lot of talk about this stock. the news is that morgan stanley
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disclosed yesterday that it acquired a 5.2% stake in the company. but as you know, and we've heard this before, particularly on "countdown to the closing bell", short seller, muddy waters, accused nq mobile of fraud. there is lot of red flags raised by nq mobile. it is a small cap tech firm and trades pretty volatilely. it is up today. happy knew year to you. and happy new 2014. david: happy 2014. thank you, lauren. s&p is closing fors last time in the 2013. let's go back to the s&p. larry shover, how is it shaping up for the new year? >> we're judged by the calendar, shouldn't be. s&p 500 is up 25%. 46 of those stocks made all-time highs -- 246. people are saying we have to have a selloff. when you think of all the monkey shines in washington, with the fiscal drag of higher taxes, our gdp is still doubled this year,
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not to mention china is growing at 7% and draghi continues to create miracles out of europe. this is a time of favor for our market. it will be hard to bet long after a long rally we've had. i'm looking forward to long and prosperous 2014 with double-digit returns. david: double-digit according to larry shover. monkey shines i love that description for what goes on in% d.c. larry, have a wonderful new year. thank you very much. >> you too. cheryl: thank you, larry. oil prices rebounded this year, climbing 7.2%, posting the fourth annual gain in five years. with global demand rising next year will oil prices continue to climb? david: that is the big question, joining us john laforge, ned davis research analyst. thank you for coming in, john. we're coming to the end of a price cycle for oil. for the past 16 years it has sort of been trending upwards. there have been some dips. 17 years cycle for oil prices.
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cominging to the edge of a precipice where we're going to see a decline in oil prices for 2014? >> well, good afternoon. i don't know if it's a precipice. i would definitely put it at a dead zone. i think what we're going to find in the next 12 to 18 months oil effectively goes flat and finally all the oil production in the u.s. will start impacting price. i think what we'll do, we'll find ourselves at end of 2014 though, oil has gone nowhere. there will be better opportunities for investors over the next year. cheryl: let me ask you about the market overall because there are some different factors that affect crude production especially when it comes to the united states as we're trying to get more crude produces especially from oklahoma and cushing. do you think d.c. will get in the way of oil production in this country and prices may head higher as a consequence? >> no. i think actually if they get involved at all, you might find oil prices depressed because if
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they go get involved the negative there frankly we open up somehow, we allow crude oil to be sold off our shores. the way the law stated today we can sell the refined products. we can sell diesel and gasoline off of our shores but not crude oil. if that were to open up in d.c., then you finally have all the production in the u.s. would start impacting the market and global markets would buy our crude which would start depressing, basically brent would start closing the gap to wti and start impacting price globally and i think that would be down not up. david: that law should be changed. it is a antiquated law going back to the 1970s when we had a oil embargo for the middle east. it's a bad law and should be repealed today but there's another problem we have is the oil pipeline, the xl oil pipeline. there is hemming and hawing, frankly i'm wondering if it is too late. is there any chance for that pipeline to come online in 2014. >> not a political expert by any stretch.
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i'm more of a data person. i look into the data itself. but if i were to take a guess i would say the government stays out of it. i think it is too late. i think if it would happen it would happen a few years ago. at this point it doesn't have the impact it would have couple years ago. the legislation that really mattered or government getting involved is -- david: put a fine point on it. you think they have sat on this thing for so long, hemmed and hawed, that it is really run out of time? that sweet time spot it was in is gone? >> yeah. because of that 17-year cycle you talked about earlier, because we're so late in the commodity cycle, by the time the government gets to it won't matter anymore. we're producing so much oil in the world, eventually the price will start flowing down, they will be late to the game. cheryl: so what we're seeing too as we go into the new year is natural gas. we're really coming up on a cold season in particular in the northeast and looks like nat-gas is reacting as a consequence to that. are there ways to play natural gas, equity plays we can pick up
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on now? >> yeah, i think the next two years nat-gas will be the play. if you look at the production of oil over the last year it is up 16%. nat-gas, 1% year-over-year. we're not producing as much nat-gas as we tend to hear out there so it is apaches, devons, chesapeakes, the guys that produce nat-gas, they bottomed out. most of what investors see in the companies is 3.50 gas. i wouldn't be surprised if we end the year closer to $5 gas and stocks are based off 3.50 and could go higher. cheryl: good point. david: warren buffett as we mentioned earlier in the show is making a bet on pipelines with his investment in phillips 66. what he is investing in a part of phillips that deals pipelines. is making a mistake? >> no. the pipeline i was talking about was more the government getting involved in making it worse. david: right. >> i just don't think they get involved. at this point there is a lot of money to be made in infrastructure with your mlps.
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i think it is smart move. david: surprise, surprise, warren buffett making a smart investment move. are there other moves to be made? we may have missed out on phillips 66 but are there other pipeline moves to be made? >> i still like the mlps. i like refiners. we think spread between wti, that $98 oil you talked about earlier in the u.s. versus brent and rest waffled which is 109. we think the spread stays high and refiners make a lot of money with that. cheryl: we're talking about opec an some say there are calls for 2014 production levels are unreal listtic, unsustainable. that basically they just don't, they don't get it. they don't want to let go of the fact they're losing prominence. what do you say to that? >> i would say it is less about supply and more about consumption. you look at a swing producer like saudi arabia, not that they can't produce more oil. the problem they're consuming more of their own product. less of it makes it out of the
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country. i would focus on demand, what i see out of opec, particularly like a place like saudi arabia. they don't need another arab spring so they're consuming more and more of their own product. david: john, happy new year to you, ned davis research analyst. thank you very much. washington politics we talked a little bit about it, sent tremors through 2013 a bit the market shrugged them off for the most part. the fights over the budget and debt ceiling may continue in 2014. what issues could upset markets in the coming new year? we'll find out. what you should be watching as we head into 2014. cheryl: don't blame the banks. that is what leading banking analyst dick bove is saying in the new book about the financial crisis. we'll ask him about too big to fail and where investors should should put their money. we'll talk about that. ♪
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david: time for a quick speed read, day's other headlines, five stories one minute. beginning tomorrow latvia will adopt the euro as its official currency. latvia will be the 8th country to join the euro currency union. berkshire hathaway will buy a special unit from phillips 66. cost, about a quarter of a billion dollars worth of stock. the units, phillip specialty products, works to improve flow efficiency through pipelines. we mentioned that earlier. revlon will seek to make money and make cuts to the operations in china. cosmetic maker sales in china
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account for just 2% of overall sales. netflix stock is up only 295% for the year. 2014 already shaping up to be a good year for ceo reed hastings. his salary will get a 50% bump next year, increasing his pay to $3 million that isn't all that much. 2013 average electricity consumption in the u.s. fell to the lowest level since turn according to energy information administration. -- 2001. because of energy efficient appliances. that is today's speed read. [buzzer] cheryl: have you added up how many times you did speed read and this year and beat the buzzer? david: no. cheryl: get the producer on that. david: green, getting ready for new year's eve. cheryl: rollout of the health care law, the government shut down, sequester a few of issues changed landscape for businesses. david: so what issues will dominate capitol hill in 2014
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and affect business in studio, in new york our very own rich edson wearing a gold tie. for champagne, right. >> nice. good combination. david: green and bold. we did dress the same this morning. biggest issue i would think will be obamacare and will affect businesses and individuuls alike in the u.s. >> absolutely. we've only seen the beginning of the rollout. that started in 2013. the bulk of it starts tomorrow, how that is work, republicans are beth the house this thing isn't going to go well. it will not be popular with americans. david: based on what? >> exactly. not hoping, but politically hoping that is continuing that people don't like obama care that is issue they continue to run on. democrats hope things get better. david: seven million is the number that they need by the end of march to meet their projections. is there any chance they will make that? >> so many accomodations have been made. not only is it the number of
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people but sign up but type of people who sign up. they need, younger, healthier people to buy more insurance that helps to subsidize some of the older people. we don't know what the demographics are. cheryl: they came out with a two million number today as a matter of fact. i want to ask you, debt ceiling fight in 2014 that is what everybody is talking about in washington right now. >> it is and there's a thought perhaps we can avoid one this time around because it was so painful for republicans last time around. the president refused to negotiate. demanded that there be nothing in exchange for raising debt ceiling and got what he wanted. republicans controlling the house could not pass a bill out of the house that raised the debt ceiling. they need democratic votes. republicans say they will ask for things. they don't know what they will ask for. really tough time. david: rich, it is my contention, don't mean any ill will to you, my contention when people inside the beltway are happy, i'm unhappy. and businesses are unhappy. when people inside the beltway are pulling their hair out, i'm
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happy because that he do less damage to the economy. when the stock market is usually booming. >> i don't think anybody inside beltway are ever happy. i have been. cheryl: if your approval rating was 5%. >> took so much time to get together a bipartisan budget deal. takes budgeting issues for most part off the table for two years, nobody likes that bill. democrats didn't like it. republicans didn't like it. neither of them went into areas that are uncomfortable with them. cheryl: midterms are coming up in november. if i was a gop strategist i would tell my client, my congressman, to shut up. let obamacare roll out and be quite ♪ think about how bad it was for republicans at end of government shutdown. they saw that "wall street journal" poll. they were concerned. there were some republicans very concerned -- david: i know that was establishment. i thought cruz was right on. he painted the republican as squarely against obamacare just at critical moment when americans found out what a
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disaster it was. gerri willis is on back to new york. so upset how well you did last night covering her show you may not be able to do it. who will you have on. >> she is on her way back. we have drones, guys, drones are coming in 2014 but also we'll talk about that first day of obamacare. it is tomorrow. will it work. how will it all work? we have answers coming up. cheryl: rich edson tonight, "the willis report." david: you look like new yorker. >> i used to be. am i recovering new yorker or recovering washingtonian? david: recovering washingtonnian. cheryl: we'll discuss. david: rich edson. good to see you, my friend. happy new year. banks paid millions in fines as fingerpointing over who is at fault for the financial crisis continues. but is the blame directed at the wrong target? should it be directed at rich's
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friends in washington. cheryl: come on. we'll talk about new york's applebee's about their plan to ring in the new year in style in times square. oh, yes. as we go to break, look at dubai's record-setting new year's eve celebration. ♪ welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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♪ cheryl: the sun is beginning to set on times square right here in new york city. a live picture, a million people expected. david: and two bathrooms. yeah. stand in line, but. cheryl: let's not go there. it's true. no alcohol is permitted. a billion people will be3 watching on television around the world. this is the epitome and the year's eve. times square and both of us will be out of here after the show. the dow and s&p posting record highs. the sticker look at what got us there. top performing sectors, consumer discretionary rallied 40%, the health care sector rallied 30%, and the industrials up 37%. boeing, this is a company that rallied more than 80 percent followed by american express was rose 57%. disney, nike, three am rounding of your top five. ibm was the only stock in the
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dow that ended the year lower. on the s&p netflix led the pack of 297%, 2nd best performer was micron. best buy, delta, e trailer and yet your top five. david: what a year. after the 2008 financial meltdown government regulators set out to limit the number of too big to fail banks and limit the arrests that taxpayers have if they fail. but the big banks are now bigger than ever, and many smaller banks have withered away and died due to low interest rates and have regulation. is it fair to call the government attempts to limit the danger of big banks a total failure? a man with kim -- keen insight into this problem joining us now to end of there. we will talk about that in a minute. first of all, what about the government's effort to limit too big to fail?
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>> well, it has failed to some degree. if you take the four biggest banks in the united states they actually have not grown since the passage of the dodd-frank legislation. the banks that have run have been the ones in the middle, the big, regionals have grown. the little have been hurt. the metal is growing with the top and bottom and not. cheryl: -- david: recently have a lot fewer. for the first time we are below 7,000, the first time since the depression. >> that's correct. we lose one bank every 21 hours, and that has been true since 1986. 11,200 banks have gone away. the reason and gone away is because the business model is not sound. basically borrow short-term and taking money from depositors and lend long, putting money into the real-estate market. it is is not a viable strategy. as why 11,200 of them are gone? david: particularly when you have artificial rates held well, regulations, this is the heart
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of the topic you or your guitar rock. question whether their health care -- help regarding the banking industry in general. you say they're hurting in that they were more to cause than the banking itself. explain. >> in other words, i believe potential crisis commission said is correct. they spent 14 months, interviewed a few hundred people. they came out with the report indicated pretty clearly that we did have the power prior to the collapse to stop it. and they give an number of examples as to why that is the case. therefore, angry that that is the correct view of the situation from a very minor position. they have done it by talking to hundreds of people. the second point to however, who cares. the crisis is over. basically, we're interested in is what is the impact of what the government is done since that time? and what i am arguing ist did
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not hurt the banks. the banks in 2013 warm -- will make more money than at any time in history of the united states in the last 17 quarters. bank earnings have been up 16 of them. david: but the bank earnings are way up. the bank lending is way down. right? >> yes. what they did is hurt yyu. what they did was basically set up to five and a review the bottom line and you can go back over. they set up a situation where poor people can buy houses anymore. they set up a situation where you don't have health care anymore. loans to small businesses have fallen as a percentage of total loans which have fallen altogether. they start up a situation where liquidity in the u.s. markets as been reduced. they set up a situation where the shadow banking market is expanding at an incredibly rapid rate increase in situation where the chinese and the canadians are taking market share
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dramatically from american banks. what they did was in the ballistic missile at the banks, completely, and his you. david: the file was to point to one issue it would be forcing banks to alter much capital. >> exactly. in other words, if you take a look at two places, the percentage of assets feminize level in modern banking which you will say again, 1934. there's a reason for the banks to have this much capitol, plus capital is not the salvation of the bank, positive cash flow is. the second reason is because they're forcing the anks told that incredible amount of liquidity. and where is that liquidities sitting? you can see it go up every week at the federal reserve sitting on almost to a half trillion bank deposits should be goinghe into the market, you know, stimulating -- the economy, not the markets, the economy,
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stimulating growth. it is by going there because regulation is keeping it at the fed. david: we have to make the last one short. why, if banks are facing all of these headwinds to regulatory headwinds, do you think that the banking stocks will do well in 2014? >> well, because basically they're making a huge amount of money. if the economy is going to be so much stronger, and i think it will come of tapering causes and gestures to go up, and that think it will. the banks will sell more and higher prices which is good for bank earnings and stocks. david: very simple answer. i love your clarity. guardians of prosperity, why america needs big banks is the name of his book. it is agreed. appreciate it. cheryl: at obese is throwing a hide-and new year's eve party in the big apple with tickets going for it three interns 75 bucks. david: apple bees?
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cheryl: yes. we will talk to see how, how he has transformed his restaurant. [ male announcer ] hands were made for playing. legs, for crossing. feet...splashing. better things than the joint pain and swelling of moderate to severe rheumatoid arthritis. if you're trying to ma, now may be time to ask about xeljanz. xez (tofacitinib) is a small pill, not an injection or infusion, for adults with moderate to severe ra for whom methotrexate did not work well. xeljanz can lower your ability to fight infections, including tuberculosis. seris, sometimes fatal infections and cancers have happened in patits taking xeljanz. don't start xeljanz if you have any infection,
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david: you are looking in a live shot of new year's eve times square. we are right on top of it. nineteen a year to of apple these casual dining locations are turned in the higher-end party venues to celebrate new year's eve. cheryl: instead of standing aside for hours, those looking for a good time in july 3 ended 75 per person the party and apple bees. with us now is the ceo. you have been doing this for a decade.
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>> all decade. cheryl: that's as. >> and the colder it is the more appetizing we look. twenty reason, 25 degrees. and never seen it backed up. it is at 505th street right now. cheryl: you have killed of the demos. the young, the old, the poor, the ridge. you still do a stake for $20. >> two for 20. david: the new intel of. david: defense of three innocents in the delicate. >> it's one many years, in all due respect. david: you can duplicate this. >> we do it different ways. we run house studies to cut house parties. it was always my philosophy that people want to have a place that stays affordable. look at $5,000 some of the other places. it is the best deal in town. cheryl: what you would pay for $20 in new york tonight he would pay 375.
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>> at 7:00 we open the doors, a full buffet, stay, since -- from city to. cheryl: but you have 30 restaurants in the area. >> they're not altering something of this nature. the other seven made nine free champagne toast. an unusual menu, bedside, harlem , a lot of neighbors worry it is not as safe ordinarily a new year's eve. i would tell you that they are great interest, by the way. but new year's eve is a little sketchy. cheryl: the warrior is shown in the york is that there was this middle ground. already been having mcdonald's and things where people cannot afford much more than that. the high end is served in new york, but you about this middle ground. not only serve the middle, but on special occasions serve both helen line and. >> is an old saying, find a need and philip. we fill that need for the person
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who wants to come to new york. many of our people are from all over the world, australia. david: they go down to in coney island. i think we have videos of that. it is a fish tank. the third shark in there. unfortunately he a son of the other's face. >> we had to take fish of the menu. cheryl: as a consumer, our they doing? at and they've been building collier? we keep hearing the economy is better. >> actually, i have some can't -- i have some concerns. the consumer and last month to six weeks. i have related to that 2 percent payroll tax that disappeared because of the first month, second month, it is not a lot of money. when you get that and then the 11th month in the making 25,000 bucks a year is 500 bucks. david: this was a good year. >> for us every year is been a
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good year. we build more restaurants and seven and eight in a single year because i always believed and still do that there's a need for being better than somebody else. that is what capitalization is about. david: support to pull you back? >> i have some concerns, but think we will put our head down and move forward. the good thing for me, everyone has the same problem. cheryl: thank you very much. david: happy new year. >> thank you so much. david: continued success. you have to try it out here in new york. cheryl: it's right down the street. in economic turning point. we will tell you why every shift in the nation's labor force to help identify the winners and losers in this economy. ♪
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♪ david: good news for the in the 23rd tank maneuvers for the labor department showing that women have recovered all the jobs lost during the recession while men have not. cheryl: while more women back to work? >> well, hi. it has to do with the types of
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jobs and industries that women are seeking. that's good to the labor department numbers. a record 67 million women now working, really any of the jobs that it lost during a recession. the unemployment rate is a half a percent lower than that of men . we intend to hold jobs in health, education, talisman and retail, all sectors that have proven to be fairly recession-proof. a man suffered the brunt of the recession. >> concentrated in manufacturing and construction, and those industries while are recovering, it is just not have rate -- happening as quickly. women's big growth industry is health care. health care and the private education sector. cheryl: in fact health care was one of the only industries out there that did not really lose many jobs during the recession. minna finally starting to take note of that, and there is some indication that there's some millikan health care as a good
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feel to get into, but it is still heavily dominated by women it. >> all right. thank you so much. david: how much would you pay to ring in the new year with one of his pop's biggest stars. the price for the table at this new york city hotel will make apple bees 375 deals sound like a steel. whole loves your wallet. ♪ cheryl: here we are, new year's eve, new york city. i love that shot. nice aerial shot. and i believe that all is going to drop at the bottom of the screen. right in the center of your screen. cheryl: a million people flooding in. get ready. ♪
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>> this is a beautiful chopper shot we have of times square as million people gather. probably will be more than a million. wonder what kind of weather they will face. cheryl: we have incredibly freezing temperatures in new york city. you will see a lot of breath out of mouths. >> talking 20s? >> 23 degrees is the low. high, 30s in new york city. >> chicago will get 10-inches of snow. it could be worse. bundle up folks if you're coming to this area of town. it is a great site though. let's go off the desk.
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allowing passengers to celebrate midnight in australia and again midnight in los angeles. partygoers were due to start their evening in sydney at 8:00 p.m. local time. after ringing in the new year in australia, were scheduled to board a 2:00 a.m. flight for the u.s. private jet-set to land at l.a. 8:00 p.m. pacific time, just in time for round two of the celebrations. cost of the trip per person was about $16,000. less than a room in new york for the night. the jet has room for 15 revelers. cheryl: that is a little plane flying over there. >> i love it. cheryl: dream hotels downtown here in new york was offering a king's table for you and 30 of your friend for 40 grand. the soldout table came with 20 bottles of, how do you say that? >> cirroc. cheryl: ciroc vodka. also the hip-hop star, macklemore. tables for 15 grand and 10,000
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apiece. >> nothing against moet, something a little more. dom. cheryl: go back to times square. >> happy new year, everybody. take a look. happy new year, everybody. adam: seven hours until 2014 and the fish start of obamacare. it is coming down to the wire and we'll hear first-hand from the front line of millenials exactly what they're choosing to pay for because even on new year's eve, in between the cocktails, it is still always about money. adam: happy new year. i am adam shapiro. and i'm in for melissa francis. the county down is on, not just for the new year but the official launch of obamacare coverage. health care took its toll on the process leading to

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