Fail and if it is, should you leave your money there or not . S theres a big discussion, sue, about whether some of the big Asset Managers are systemically important, ie, too big to fail. Indeed. Thats been a discussion recently, ty. Well talk about that. We also are talking ate the nasdaq, pushing higher today, but its had a few lack laster days recently. So questions are being raised about whether the tech heavy index is setting up for a bigger pullback. The nasdaq is, however, still up 36 in a year and thats nothing to shake a stick at. And since that march 2009 bottom the index is up 210 . So should we cue the bear video . Perhaps. Because its cold. We picked polar bears today. Arent they cute . A number of stocks at the nasdaq already in bear market territory. What does that mean for all the other stocks there . Sheila dharmarajan is bear hunting at the nasdaq. Hey, sheila. Hey there, sue. The nasdaq is staging a little rally today, but when it comes to the tech heavy index traders tell me we are over bought, over stretched and trading at thin levels. So could this mean there is a bigger pullback in store . Well, we decided to go bear hunting and see which nasdaq stocks are already in pullback mode and which are pretty close. So based on yesterdays close looking at the nasdaq 100, ten stocks are officially in bear market territory. That means theyre off more than 20 since their recent highs. We do have some highflying names on that list like tesla, Green Mountain coffee, intuitive surgical. Another five names at the nasdaq 100 close, big names like facebook, down about 16 , monster beverages and akamai. The aggregate about a third of the nasdaq 100 stocks are in correction mode. That means they are down more than 10 since hitting their highs. So the big picture, what does this mean . Are we going to see more of this bear hunting happen . Traders tell me look, will are signs it the they are watching closely. Also, a lot of the technicals like advancers and decliners havent been on the nasdaq side. What is on the nasdaq side, seasonality. Everyone has been talking about the santa claus rally lately. Nasdaq has been a beneficiary of that. The Stock Traders almanac tell us since 1980, about 77 of the time the nasdaq has staged a rally when it comes to the last trading days of december. Maybe thats working in the nasdaqs favor right now but, of course, we are all on the hunt for those bears. Sue . All right. Thank you so much, sheila. Now to the dow and the s p 500. If both of those indices close down today and the dow is off about 4 points it would be the first backtoback loss this month. Whats ahead . Lets bring in bob pisani and kenny pull carry director with oneills security and cnbc corrector. Sheila highlighted the names but tesla is up huge for the year as a whole. Right. You have to take that in stride. It might be off 30 , but its up how much . I mean is it still up 70 on the year. Is it really in bear market territory. You know. Given the range its at. Certainly its in bear market territory if you take it just from its high but overall its been certainly a good performer for the year. All the top stocks you mentioned are high names, theyve moved much more than the market. The market up 1 , theyre up 2 . Those are the names that suffer when people start to want to take money off the table. Theyre the outliers. Those stocks are up today. Those high beta nasdaq names. Theyre kind of plateaus. Right. The yelps of the world and linkedin of the world. What do you make of the market today . I think its more of the same. Stuck in the fed speak, are they or arent they. The market remains confused. In a tight range, 1740, 1775 is where were going to be until you get more clarity and were not getting any clarity on any given day. Look at the market here. I made this point earlier. Narrow range, traders sitting on the hands, light volume but all year when you move sideways for three or four days, the market tends to move up rather than down. Right. In other words everybody cant figure out what to do and it drifts upwards. Look at the last half hour. But it goes on low volume so what that tells you its more proprietary trading versus the big Asset Managers making any changes in portfolio. Exactly. Getting towards the end of the year so they want to be very careful theyve had a good year. Thanks, guys. Appreciate it very much. Lots of news in the Retail Sector to tell you about. Macys hitting a record high today. As Third Quarter comp sales rose better than expected 3. 5 . More advertising brought in more business. Macys right now is traded up just under 10 to the plus side. Different story for perry ellis the clothing designer cut earnings and revenue forecast for the Third Quarter and year due to reductions in its private label business. That stock is down 22 . Lululemon gaining ground up about 4. 3 after Jpmorgan Chase began coverage of the maker with an overweight rating saying lieu lieu lemon with accelerating growth in top and bottom lines, follows last years execution issues. Up to you. Thank you very much. Drill down a little bit on macys and the outlook for Holiday Retail with cnbcs retail analyst stacy widlet. Good as always to see you. Hi, ty. You were one of the people let the record show who was very strongly bullish on macys. You must feel good about it now. Its trading at an alltime high. Do you still love it . I do. Heres the deal, tyler. Coming out of q2 everybody thought retail was the end of the world. Traffic hit a wall. So that was the opportunity to buy great names. Macys came out today, their comps were better than expected, theyre talking about strength across the board in geographies, across the quarter, and october being the best month. So thats a great indication here, certainly as we look into holiday for certain names, not for everybody. Lets turn to another certain name which i think comes out tomorrow with its earnings nordstrom. Does this macys report auger well for it. Nordstrom is one of the places you shop. Nordstrom has the advantage of they have the rack which is the offprice part of the company, so think tgx how well thats been doing and also a lot of elements that macys is doing right whether thats omni channel, localization, whether thats upgrading their staff. I think, you know, macys is a good indication of best companies that will come out on top this Holiday Season and i think nordstrom falls into that category as well. Thats a very interesting way. We have to leave it there. Thats an interesting way to think about it. Go for the best in breed and you rarely go wrong. Stacy, thank you very much. Good to see you. To kate kelly with breaking news on another retailer. Kate . Tyler, thanks so much. We have breaking news on crocs, the shoe maker apparently under way with discussions with at least a couple of private equity firms about a possible leveraged buyout, privatization of the Company Worth a little more than a billion dollars in market cap. These talks have been going on about two months, and parties that have been in discussions with them include kkr and blackstone two of the big players. Im told kkr is more than likely out of the game at this point, although blackstone is still considering the possibility of a deal. However, talks im told are fizzling a little bit in general. Its not clear whether things will come together or not. But the stock has clearly been reacting very, very well to this news today up by double digits at one point earlier. Now a ril bit off those highs. Still very strong, tyler. Thats one well continue watching for you. Its up 7 now. As you mentioned, kate, off the highs but a decent percentage gain. Thanks, kate. A number of ipos begin trading today and dominic chu is tracking them all for us. Hi. On ipo watch. So no, these arent twitter, right, but still joining the fraternity of publicly traded companies. Kick it off on a bullish note. Extended stay america surging in their debut. The hotel and lodging chain up around 15 off their session highs. On the slightly more bearish side of things, weve got diana gas lng partners Liquified Natural Gas shipping company down around 2 to 3 in trading. The company sold about 12. 5 million of the Partner Units at 18 bucks apiece. The most bearish of the ipo trades today is chegg. The educational Products Company priced 15 million shares at 12. 5 apiece. They rent textbooks, provide online resources for students for things like scholarships and course reviews but those shares not appetizing for investors today. Meanwhile, president obamas technology chief getting grilled on capitol hill today over all the problems plaguing that Health Care Exchange website. Talk about laying an egg. Eamon javers live in washington. Hi, tyler. Its been a tough hearing up here on capitol hill for the Obama Administration officials here testifying, testy at times within the Committee Hearing room. Members of congress fighting about who gets to ask which question, whos insulted whos staff. But one of the key questions they keep coming back to over and over again is exactly how long is it going to take to fix healthcare. Gov and will the administration be able to hit the november 30th deadline it has publicly set for itself. The Administration Officials havent been able to give a good answer to that question today. Take a listen to things exchange. Are we going to hit november 30th . Thank you for the question. Thank you for your kind words at the beginning as well. So the goal that has been laid out is for the site not to be perfect by the end of november functional, people can log on . So that vast majority of americans will be able to use the site smoothly. Thats the goal were gunning for and working very hard to get there. Thats about what theyve said. Is that the goal were working hard to get there, but no guarantees here today from the white house folks that healthcare. Gov will be up and running by november 30th. Sounds like blanket promises or guaranteed is probably not the way to go. Especially in this very complicated it technical situation. Maybe it was a mistake to put that out there in the first place. The woman who was the face of obama care, remember her, it was her picture on the healthcare. Gov website, she was on Good Morning America on abc. Abc news says her first name is adriana. We dont know her last name. And this is the first time the country has heard from her and she was not happy. We signed the release that said it was possibly going to be used for material for promoting the health care, which i didnt know it was going to have a negative impact. Dubbed glitch girl, the most despised face on the planet. Did you ever anticipate this type of publicity, scrutiny . No. Its bullying. It is bullying. But at the same time, you know, i thought i had to do this for my child. Im here to stand up for myself and defend myself. According to abc news, adriana is not a u. S. Citizen, interestingly, but is eligible for obama care because of her permanent residency status. She says she was not paid for the picture by the government. Cnbc. Coms dan mangan is here now. What can you tell us about this interesting woman who is understandably quite upset with what has happened. Very upset, the face of the failure of healthcare. Gov and this is kind of a sad or funny story depending on your perspective. She wanted to get free family photos and contacted somebody she knew and said can you take these photos. Great with. Well use this picture on healthcare. Gov. Signed a release allowing them to use her image or likeness as the front page of obama care. Right. There is no free lunch and no free photos when it comes to healthcare. Gov. Suffer the consequences. What is she likely to do . Is there any talk of a lauts here . I assume there isnt . I dont think she has any recourse at all and i think shes she got her five seconds of fame this morning at abc. The bigger problems, the face of healthcare. Gov theyre showing low levels of enrollment, less than 50,000 people have signed year to date combine that with the state exchanges, less than 100,000 people in october where the goal was five times that, 500,000 people. I have a sneaky feeling for all the upset this young lady has faced this is going to end well for her. People see that publicity and feel sympathy for her predicament and i bet it turns out better than she might think. Thank you. Sue, down to you. Thanks, ty. Goldman sachs employees sweating bullets. Many bankers find out today if theyve made the cut to managing director. Is a career make or break moment, sure is. We have the details and what goldmans latest moves means for wall street pay. Plus, it may be the future of breakfast. Its a power pitch youve got it see. Welcome back to power lunch. Shares of independent oil and gas company Qep Resources moving towards session highs an drifting off here. The company one of geana partners. They sent a letter asking the company to form an independent committee to study a spinoff of the popline business. Janna is the largest shareholder. Keep an eye on those shares. Thank you very much. Time for the power lunch countdown. A lot of nail biting and sweating at Goldman Sachs today. I guess more than just normal there. Hundreds of midlevel bankers at the firm will find out if they made the cut to be named a managing director. Mary thompson and kate kelly join us. What can you tell us about the presumptive class of new mds at gs . The formal announcement made. 280 of them, slightly larger tha than last years class of 266. Most about 200 in revenue producing roles, shouldnt be a surprise, things like trading, Investment Banking, et cetera. Coming into this year a lot of question about how big this class would be because its the last year that theyre going to be named on an annual basis. From this year on theyre going to be named every other year. So some people were thinking theyre going to name more, but keep in mind, goldman has been in a cost cutting mode and keeping compensation costs in line is one of the easiest ways. 280 new mds. Wheres the party tonight. What does this say about the overall trend of pay and promotion on wall street . Its interesting. Were seeing a slight a modest up performance in terms of paid projections this year, up 4 is the main projectionion overall for wall street bonuses globally. Thats overseas banks as well. A couple of points, things i would point you to in fixed income, a tough group this year, pay is expected to be down about 10 . On the equity side, unsurprising in light of this rally, projections up 12 . In other areas like Wealth Management, for example, were seeing modest upswing projections. A mixed bag actually more positive than not and as you said, mary, i think its all about revenue production and sort of pay per performance. That was going to be my question. Is the take away its pay per performance. Equities do well so if youre in equities you do well. Bonds and other fixed income havent done so well. Its been a trend. After the financial crisis, i think wall street took a good hard look at compensation and said were not going to pay the mediocre performers for doing a mediocre performance. Those who do well will be paid very well. If you unbundle the numbers in Wealth Management and prime brokerage which caters to hedge it funds, well healed client who is do a lot of business and good margins attached to them, less about the prop trading thats been rooted out by the volcker rule. Do you have a client base that will buy your services, get lucky with a big deal. If not or money maker. Thats right. Folks, thanks. Sue, down to you. Thank you all very much. The housing now, the number of people applying for mortgages slipping. Rates on loans have jumped to their highest level in a month. Mortgage applications falling almost 2 last week. What do the nations biggest Home Builders think about the health of the Housing Market right now . Diana olick speaking with pultes ceo just a short while ago. Shes here at post nine. Good to see you as always. Youre right. Rising Mortgage Rates are not the only thing playing against the big builders right now as sue said, we have the exclusive opportunity to interview the ceo of pulte homes, one of the nations largest builders to get his take on why were seeing this pause in the housing recovery. The pause has been caused by rapidly rising rates a few months ago, the government shutdown, i dont think helped anything, and then concerns around affordability as home prices have risen quite a bit. We are still far below longterm averages. I had think we need good job growth in the country to really help the Housing Market over the long run. Second in size only to dr horton pulte operates in several categories acquiring entrylevel syntex during the recession but now focusing on the move up and higherend homes in their pulte and active adult dell web divisions. He admits demand is slow for entry level and thats why pulte is focusing on those higher end homes. I think youre going to have to adjust in our case the overall portfolio in order to take advantage of that and perhaps the entry level is not 40 or 50 of overall market like it used to be. Maybe it settles in at 35 or 30 . I dont know exactly. And by no means is that market dead. Its a question of how robust is it. Meantime our job is to invest where we can get the best returns and right now were seeing that in the move up and active adult category. Pultes entry level pitted against the Single Family rental market which he said he thinks is a longterm place so interesting because some people think that its going to be a quick gain. He says its going to be longterm competition for the builders. Great interview, fascinating to hear from him. Good to have you at post nine. Fun. Come up more often. Ty, up to you. Thank you very much, sue. The big banks too big to fail but what about Mutual Fund GiantsLike Fidelity and vanguard and others, whats at stake in this debate. Is this the future of breakfast . Coming up, an eggciting edition of power pitch. The scientists have hatched a recipe for the egg and it doesnt involve chickens. Stay tuned to see the pitch and decide if youre in or out. In todays markets, a lot can happen in a second. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. I put in the hourswhere i am today by luck. And built a strong reputation in the industry. I set goals and worked hard to meet them. Ive made my success happen. So when it comes to my investments, im supposed to just hand it over to a broker and back away . Thats not gonna happen. Avo when you work with a schwab financial consultant, youll get the guidance you need with the control you want. Talk to us today. We are the thinkers. The job jugglers. The up allnighters. And the ones who turn ideas into action. Weve made our passions our lifes work. We strive for the moments where we can say, i did it we are entrepreneurs who started it all. With a signature. Legalzoom has helped start over 1 million businesses, turning dreamers into business owners. And were here to help start yours. Time knew for our every wednesday series the power pitch where founders get just 60 seconds to make their pitch and then our expert panel decides whether they have what it takes to become the next big thing. Im mandy durry. We have a company that is serving up lots of eggs but does not need a single chicken to do it. Josh is the ceo and founder of a Food TechnologyCompany CalledHampton Creek foods. Before whipping up faux eggs he was a full grad scholar who spent seven years working with poor communities in africa. This is his power pitch. My name is josh tetrick. Im the ceo and founder of Hampton Creek, a Food TechnologyCompany Selected by bill gates as one of three companies shaping the future of our food. The future really that needs to be shaped which is the system of food is incredibly broken. I think the best manny fetation of this brokeness is global exproduction. 1. 8 trillion eggs are laid around the world and this system is defined by radical inefficiency, rising prices, animal abuse by environmental degradation. What we do as a company is take all of that nonsense entirely out of the equation and replace it with a plant that is 18 less expensive. We sel that plant based ingredients to General Mills and kraft and heinz and the power of that plant to make products like a cholesterolfree mayo called just mayo and cookie dough you can actually eat. Josh is on the right side of your screen. He can hear us but he cant react just yet. So on our power pitch panel we have alan of new York Magazine food blog street he attended a French Institute and worked at gourmet and the Food Network Magazine and likes his eggs poached. Executive chef shawn, his newest endeavor, juneny in new york city which made esquires best restaurants 2013 list. The chef likes his eggs poached as well. Lets get cracking on Hampton Creek food. Whats your reaction to the power pitch . Theyre using it to make products. Anything is going to taste good in a cookie. Im excited to see how it works on its own as an ingredient. What about you chef, shawn . Im interested to see the quality of the product when it comes out to see if it tastes the same as what theyre promising. How does he get critical mass, move to be a product that has a lot of clients and a lot of exposure moves beyond just being a boutique product. Lets give one of the eggless cookies a taste. Have a bite and see what we think. Its pretty good actually, i must admit. I dont think its the best but its good. Are you surprised, alan. Not the best cookie ive had. Its a decent cookie, though. Josh, time to get fried so to speak. Alan, first question to you. I want to know how hes going to get nonvegans excited about this. The big answer to that question is, creating really good affordable food. I think if we do that, lots of people will come along for the ride. You know, is had this a sustainable product and going to be good for health in the future . We are not trying to go after free range or barn eggs or backyard chickens. This is attack an industrial system that i dont think meets our values. The benefit we have is we can do it at a price that is more affordable than the status quo. How do you gain traction enough to be beyond just being a boutiq boutique niche product . We have a deal with a fortune 500 company whole foods, were collaborating with three fortune 500 food manufacturers. You raise an interesting point because youre saying its Cost Effective which obviously industrial Food Companies will be excited about, but consumers might not be excited about the fact its a fake egg cheaper than a real egg. You dont buy mayonnaise because you, you know, love to have the egg in the mayonnaise. You like a creamy mayonnaise. Thats one part of our business. That mayonnaise that is in front of you there is beating hellmanns in taste tests 53 of the tile and a reason people say they like it because the taste pops. How do you think youre going to overcome, you know, decades and obviously, you know, all these marketing techniques with hellmanns and companies that are have pretty much instilled the quality of their products since a childhood memory. We dont talk about eggless mayonnaise. We talk about mayonnaises that tastes well. We win by appealing to people like my dad, probably shopping at Piggly Wiggly in birmingham, alabama, right now. Whats your monthly revenue . I cant disclose that up to this point right now, but i can tell you that when you have a National Distribution deal with a fortune 500 company, that things are looking pretty positive for a Young Company that is i think on the cusp of doing some pretty incredible things in food. You heard what josh had to say. Are you in or are you out on joshuas eggless eggs. Alan, you first. Im not particularly sold on the idea of the artificial egg using kind of molecular to turn into mayonnaise but i think a lot of Food Companies will be excited about it so im in. What about you chef shawn . From my perspective auto im out because i feel as though, you know, you cant substitute Something Like an egg. You cant substitute something nature has given to you. Im going to see if ive done something im not sure done on power pitch. This is not synthetic engineering. Its a natural type of yellow grown by farmers. Does that change your mind, shawn . Im still out. Bottom line it tastes really good. I dont care whether there are eggs in it or not, all i care about something whether i would eat or feed my children and im in on that front. Josh, whats your reaction . You know what, i think i could take that and hold my head high and shawn, i encourage you to visit your local whole foods and maybe we can turn you around by just getting in your mouth. Thanks so much to josh of Hampton Creek and also our panelists alan and chef shawn for an excellent power pitch. Are you in or out on Hampton Creek . Logon to power pitch. Cnbc. Com and leave a comment or go on twitter and follow the conversation with the powerpitch. Sue . Hey, i think its great. My son is allergic to eggs. That could be a fantastic alt alternati alternative. I think theres a niche in allergies. Thanks, ty. To gold. Gold prices are closing right now and Sharon Epperson is tracking the action for us over at the nymex. Hi, sue. Its become a familiar pattern gold prices rallying during the session and into the close giving up those gains. That happened today. Were looking at gold below 12 0 an ounce, down about 3 as the final trades come in right now. We are looking at copper prices that have really been the big decliner here in the methals market. Copper hitting a three month low. Talking about the tapering talk and what we heard or the details we didnt get out of the china summit about its economic plan for the next decade. Those are factors weighing on copper but were looking at metals weak across the board. Back to you. Thank you so much, sharon. All right. Lets check the bond market as you know, we did have a tenyear note auction this morning. We basically had 24 billion worth of tenyear notes go off the board. The bid to cover, was better than the what we saw in october. We came in at 2. 70 on the bid to cover and that is better than what we saw in the october auction. Right now, we have the yield on the tenyear note at 2. 73 . So the yield Holding Steady at 2. 73 and youre up to date on how the bond market is performing. Up to you. All right, sue. The big banks are too big to fail but what about the Mutual Fund Giants . Fidelity, blackrock and vanguard. What did you find, kayla . The hottest debate in washington right now. A controversial on that question came out last month. You can imagine the industry is not happen. Well tell you what happens next up on power lunch. Welcome back to power lunch. Check out canadian solar, posting its first profit in nine quarters had helped along by improvement in its solar power plant business. Profits and sales beat analyst estimates and shares are up around 10, 12 in trading today and get this, up 1500 from their 52week low of 1. 90 on november 15th. Big moves for canadian solar. Thank you very much. The big banks have been deemed too big to fail but are Asset Managers like black rock and fidelity too big to fail . A big controversy in washington right now. What are the details some. One of the most heated debates stems from the f sock a consortium of regulators that meets about once a month with representatives from big agencies like the fed, treasury, the cfpb, s. E. C. , we could keep going but about two weeks ago the group discussed whether Asset Managers should be deemed too big to fail, my sources say blackrock and fidelity. This designation called systemically important and requires steep capital levels and tight regulation. Companies are fighting it. Two dozen plus letters responding to a controversial october report from the office of Financial Research saying reaching for yield and hurting into Asset Classes put these companies at risk in volatile times. Several trade organizations say the study ignores the way Asset Management works, others like invesco says history shows these firms dont play a role in financial crises. Losses to the client not taxpayer. Regulate them at the product level, not at the firm level. Shouldnt have to hold capital against plain vanilla stock and bond funds. Most say, were smaller than the banks. Blackrock at 3. 8 trillion is the biggest money manager showing its Balance Sheet only 8. 7 billion, a far cry from deposit taking institutions like jpmorgan and bank of america. Regulators say its early days. The fight is just beginning but you have to imagine this cost will be passed down to the customer if they have to hold money up against stock and bond funds. Blackrock is in a mercury in a solar system of jupiter and saturns. 3. 8 trillion under management. 53 trillion. It is big your and my money not their money. Exactly. We get that back in times of a cris crisis. Or less of it back in times of a crisis. Exactly. Sue, down to you. Ty, Cisco Systems getting ready to report earnings after the bell today. Ceo John Chambers pay has doubled over the past year. The stock is up during that time. If you go to a longer length time, its not quite as impressive a performance. Raising the question, is mr. Chambers worth it . Josh lipton in san jose with a look at that question. Hey, sue. There is no ceo more closely linked to his company than John Chambers is with cisco but he has reportedly indicated he could step aside as ceo as soon as next year. The question for cisco investors has he been worth it . He joined cisco remember in 91, became president and ceo in 95, named chairman of the board in addition to his ceo role in 2006. Chambers has enjoyed the perks of the sweet life. His total annual compensation almost doubled to 21 million and 2013 he billed cisco 2. 8 million in jet expenses. For performance cisco stock has climbed some 20 this year, over the long term, though, its more mixed picture and in the past ten years that stock is up just about 6 . But since january 1995, when chambers became ceo its up some 1200 , way more than the major indexes and he has grown the company from 1. 2 billion in annual revenue to 48. 6 billion. Chambers, of course, would like to leave on a high note. The question is, how bright is ciscos future. Analysts say the cloud is an obvious threat but that cisco is making moves to adapt its portfolio and the tech bellwether has the potential to return more to shareholders. Back to you. Josh, thank you. And mr. Chambers, the ceo of cisco, will be on closing bell today to discuss the companys latest earnings and also give us the outlook for cisco. Ty, up to you. Do you want to invest like a billionaire . Might have a chance but should you, robert frank . Sounds like the latest get rich scheme, invest like Warren Buffett, carl icahn and dan loeb and get rich too. Crazy right . Well show you a chart that may just change your mind coming up after the break. Get paid to do somethingpled you really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . But with less energy, moodiness, and a low sex drive,y first. I saw my doctor. A blood test showed it was low testosterone, not age. We talked about axiron. The only underarm low t treatment that can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and medications. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting and increase in psa. Ask your doctor about axiron. Coming up on street signs the top of this hour pimcoss bill gross tweeted markets are beginning to resemble a casino. Well have him on the show to elaborate and Housing Price gains slowing down. Healthy or worrisome . Going to weigh in. A standup performer this month on the dow, that no one has been talking about. Were going to as well. All those things and lots more coming up top of the hour, street signs is the name of the game. Back over to dominic chu with a market flash. Dom . Thank you so much, mandy. Check out whats happening with facebook surging to a session high right now. This on dow jones reports that facebook offered to buy snapchat, photo messaging service valuing the company at 3 billion and was spurnds by senate chat. Tyler, back to you. Thank you very much. The ibillionaire index, i got off an icarly, could give investors to trade like Warren Buffett and carl icahn. Should you do it . Wealth editor robert frank joins us now. Tyler, billionaires are the smart money, right . In theory you should be able to get rich buying the same stocks they buy. Ibillionaire and the New York Stock Exchange launched the ibilen air index, tracks the 30 large cap equities which investors have allocated the most funds. The list includes carl icahn, david tepper, paulson, loeb, lots of our favorites on cnbc. The billionaire index has outperformed the s p. Check this out at least over certain periods. Since 2005 its posted average returns of 12. 5 , compared to the s p of 7 . Huge difference there. Now ibillionaire is planning to launch an etf based on the billionaires. You cant invest but thats coming soon. By basically becoming rich like invest vesting like the rich may not be so simple. The holdings based on 13 fs, notoriously backward looking and they have hedging strategies, options and risk tolerance different from the average investor and they always have better information. For those who want to vicariously invest like a billionaire without putting their money in can buy the ibillionaire app, thats only 99 cents. Thats more my speed because ive always felt like the first billion is the hardest. Yes. You can lose 99 cents and feel okay. Sue, you got some more for us. Yeah, i do. Listen, i want to be able to experience that first billion. All right. Robert, stay with us because were going to talk art. Christies new york hosted the highest grossing auction of all time last night. With an art sale netting 691. 6 million. Smashing records basically right and left. We just saw a picture of the Francis Bacon again. The most expensive artwork sold at suction, first time its been put together as a triptick at auction. The price 142. 4 million. No word on the seller or the buyer yet. Word has it steve wynn might have been one of the bidders. The record for the most expensive work sold by a living artist also shattered last night, jeff koounz balloon dog went for 58 million sold by peter brant to a unknown buyer. Heres a great view from inside what was a packed room last night. Taken by one of our power lunch producers. You know, robert, you just got to wonder with numbers like that being bandied about, i mean weve talked before about whether or not the contemporary art market is in a bubble. Whats your perspective on that . Weve been talking about a bubble in the art market for at least four years and it goes higher. I think its going to keep going higher not because of really the quality of art Getting Better but people, especially the wealthy, want a safe place to put their wealth so like many collectibles art is going to keep going up. That balloon dog may be great but it messes up the lawn. You have to clean it up after it. What about sothebys they have an auction and whats on the block and could we see these epic prices . Tonight interestingly is all about warhol. Its weve got the silver car crash painting, one of the biggest and oldest warhol paintings saying it could go up to 80 million. This could go well over 80. Its going to be warhol versus bacon and then we have steve cohen selling his liz warhol that liz taylor profile thats going to be a huge piece as well and then we have a barnett newman, selling that blockbuster in the spring for 43 million. This has two lines on it. Look at that. Two lines. Its twice as good. As the other barnett. The other only had one line. Pay more for that. Two blue lines. So this could also think what he could have got if he put three. So again, tomorrow morning, well get ready and see more big numbers. Thank you very much. Sue, lets go to yahoo s finance question of the day. You answered this poll, Francis Bacon, never met a bacon i didnt like, sold for 142 million last night. Is that right. Thats right. Is the art market in a bubble . Yes, 42 , no 11 . And 48 , this would include you and me, i stay away from art as an investment. Well, probably because we just dont have the budget. All right. Guys, thank youp. Test teslas founder elon musk tells cnbc an electric aircraft would be on the list if he were to create another business. But not at any time soon. Plus, say goodbye to Bank Branches. Power rundown coming up next. vo you are a business pro. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. At bny mellon, our business is investments. Managing them, moving them, making them work. We oversee 20 of the worlds financial assets. And that gives us scale and insight no one else has. Investment management combined with investment servicing. Bringing the power of investments to peoples lives. Invested in the world. Bny mellon. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. All right. Power run jun time. Joining us kayla tausche, bob pisani. Microsoft apparently ditching its longstanding employee ranking system, eliminating its practice of evaluating employees on a bell curve in an effort to foster more teamwork and collaboration. When you do it the way theyve been doing it, kayla, theres always got to be a loser and always got to be a winner. Thats right. Of course this is probably bad news for those people who are very comfortable being in the middle 68 of that bell curve who knew they did just enough to get by, but good for employee moreral to bump up the system to a modern day approach and reward people when they do a reward. Talk about teamwork, promoting teamwork, ten people on your team and two you flunk, two say spectacular and the rest mediocre. Im glad they got rid of it. Teslas elon musk making interesting comments to Andrew Ross Sorkin yesterday. Lets take a listen. If i would have another company in the future, which i would not be any time soon, the i think that would be a thing to do, is to do an electric aircraft. You want to do an electric aircraft . Yeah. Supersonic and vertical takeoff and landing work well with electric. Very interesting concept here. I wouldnt bet against him in many ways. Hes had such amazing breakthroughs. Hes one of the most interesting men in the world if that guy on the ad isnt. Bob pisani, what do you think . Electric plane a good idea . Look, being able to take off and land without a long runway vertically thats been one of the goals of aviation for 100 years essentially. I think the problem is, the guy has his hands full. With space x hes working on, working on private flights to mars, also that little thing called tesla and he was also talking about the hyper loop yesterday. I think he had hwants to promot between los angeles and san francisco, but i think his hands are full right now. Im not an engineer, but seems like you would have to generate so much power and heck, the history of some of these lithium ion batteries has not been all that comforting to flyers or drivers. No. Those batteries not comforting at all. Some fortuitous timing to announce this idea or put forward this idea after this string of news tesla it itself has had in recent days. I dont really feel comfortable with it quite yet but the guy has shown he has a good record. We dont have to worry about it for a while. Bank branches are shrinking as more consumers make the move to mobile banking. Is there any debate, kayla, this is the future of banking . I am stunned that banks still have so many walkin branches. Its funny but when you have a really complex problem, tyler, theres no place you would rather go than to speak with a person face to face. We heard from Brian Moynihan and tim sloan and they said the branch isnt going away. It might get smaller and be the size of your dry cleaners rather than the size of some big expansive retail space but its not going to go away because people are still going to have Customer Service issues that can only be solved there. Put enough starch in my shirts ill keep going there. Always struck by how vast some of their Real Estate Holdings are. A bit of an illusion. 1970, 22,000 Bank Branches nationwide today 90,000, four times as many. Its a bit of an illusion. Shrinking over a few years ago bought because as kayla points out, atms you can deposit and withdraw money. Thats the main reason people go to banks. Theyre not going to go away. Youll be able to find a bank i have an app, take a picture of my check, deposit electronically. And they thank you for that. I bet they do. Wall street comp may be increasing this year. A report from the financial recruiting firm Options Group sees average global comp rising 12 in equities, but commodities, currencies and big credit among the losers. We talked about this earlier. This is the way it seems to be going. If you do well as equities have youre going to get paid for it. Im sorry. I have a lot of friends who work in the compensation in these areas and they might make it a little more this year but their compensation has been shrinking a number of years, four or five years previous and a lot of these guys, particularly analysts, making a fraction of what they were making ten years ago. Wall street is not, you know, doing spectacular. Kayla, whats the buzz youre hearing . Financial advisors, Wealth Management the place to be. Clients assets are going up, Investment Banking and some of the trading places that you were mentioning, really volatile, hasnt been a good year for trading but i think generally at the banks compensation is going down but revenues are going down. The key number fraction of rev knew could go up. All right. Thanks very much. S p 500, 1775. Could it close at 1776 . Alltime highs. Were back in two. In a world thats changing faster than ever, we believe outshining the competition tomorrow requires challenging your Business Inside and out today. At cognizant, we help forwardlooking Companies Run better and run different to give your customers every reason to keep looking for you. So if youre ready to see opportunities and see them through, we say lets get to work. Because the future belongs to those who challenge the present. [ engine revs ] [ male announcer ] the mercedesbenz winter event is back, with the perfect vehicle thats just right for you, no matter which list youre on. [ santa ] ho, ho, ho, ho [ male announcer ] get the allnew 2014 cla250 starting at just 29,900. I got this. [thinking] is it that time . The son picks up the check . [thinking] im still working. Hes retired. I hope hes saving. I hope he saved enough. Who matters most to you says the most about you. At massmutual were owned by our policyowners, and they matter most to us. Whether youre just starting your 401 k or you are ready for retirement, well help you get there. Number to watch we are above that so that is a new high for the s p 500. Well see whether or not it holds that going into the close. One of the contributors to that is macys, the biggest winner in the s p 500. Up just about 10 , ty. All right. Sue, thank you very much. That will do it for this edition of power lunch. Street signs begins now. It may feel like going in through the outdoor for likely incoming fed head janet yellen. Well ask bill gross if he thinks the fed can pull off a perfect exit from qe or if the fed may end up looking like a fool in the rain. Other hot topics the stock that has quietly been doing great, the ten cities where homes are the most over and undervalued right now. The one market that may have