Months. Has it finally turned a corpser . Speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. A mucky day. Not since 2008 has it been so high. More evidence the housing recovery is taking root. Prices rising in the big cities but a warning we may head into a recession next year if the u. S. And europe dont solve their fiscal messes. Right now the dow industrials a built of a breather down 21 points. Meanwhile, 34 days to the fiscal cliff. Will a deal be done in time . Today, president obama meets with Small Business leaders to make his case for the possibility of higher taxes ahead. Our washington correspondent, john harwood, is here with the very latest. Hi, john. Reporter hi, tyler. You know, everybody is staking out public positions and trying to drive Public Opinion their way. The president s been doing that all week. He is doing that with his meeting at 2 30 this afternoon with Small Business leaders from around the country. He is later going to travel to pennsylvania to make his case publicly, part of what he is saying is that if you adopt his plan on the extension of the bush tax cuts that is for the middle class and not for people at the top that almost every Small Business owner is going to get a tax cut as a result of that. And republicans are staking out their own position that tax revenue can go up but not tax rates. Once they get into the room and the hard bargaining which of the positions ultimately falls away. The signs remain positive, tyler, we will get a deal by the end of the year. The president just half of the equation. Congress is the other half. And many of those members, all in the house, are up for reelection in just two years time. They have got to be careful, dont they, on how their constituents view all of this, whether they are in the gop and averse to raising taxes or in the Democratic Party and averse to cutting benefits. I can tell you from having visited John Boehners district north of cincinnati last week the fis cliff maybe an abstract discussion here in washington but out there in southwestern ohio, if we tip back into recession, the economic pain would be very real. Middle town and the rest of southwestern ohio has been working its way back economically from the longterm loss of manufacturing jobs and troubles in the auto industry. The last thing this area needs now another economic setback from the fiscal cliff. House Speaker Boehner and his colleagues in the congressional leadership have founded conciliatory notes about their prospects that sounds like good news here at the local chamber of commerce here in middle town but only up to a point. I want to be confident. I want to be optimistic but no i think i would rather be veered at this point. Reporter one of the speakers constituents, steve hightower, has a Petroleum Distribution business, like the economy is doing well. He has known boehner for years and believes the speaker wants to make a deal with president obama to avoid the fiscal cliff and impact on families but also seen washingtons disfunction and has his doubts. Somewhat just like the president , time to go ahead and do your job. Reporter Speaker Boehner is secure enough in his own district here north of cincinnati i75 that his constituents will give him a freehand to negotiate. His bigger challenge is pulling together republicans from districts across the country behind any deal he ultimately strikes with president obama. The next four weeks that is the challenge john boehner, eric canter, and candidates on the house and senate are going to find. How do you put together a deal that not only the leaders agree upon but members of the caucuses can give majority to us in both houses . Indeed, john, thank you very much. Meantime, some important Economic Data came out today and if you were looking at it expecting to see signs of worry about that looming fiscal cliff, you might be surprised. Steve liesman has been analyzing it. It doesnt seem to show an economy that is all that worried about whats like ahead for us. Not on the consumer side. Before we have seen the consumer doing well, oblivious to the cliff but measures of Business Sentiment declining because of the cliff. Today, consumer measures continue to look pretty decent and business measures came in not too bad, pretty decent. Look. Durable goods up changed, we expected them to be negative and Business Investment up 1. 7 . Consumer confidence up, not too bad a number. Chain store sales for the week ending saturday, including black friday. The best saturday or week ending saturday after thanksgiving that i could find back to 1990. Caseshiller home prices continue their march upward. Look at Consumer Confidence and the cliff. I want to show you the twoyear chart heerz that dip you see in the middle of your screen there, that is the last debacle, the debt ceiling debacle. Cant see it here yet. So you dont get excite about the numbers, give you a longer view whether it should be if these were normal times, see there off to your left, 85s, 90s, 100s that would be real healthy Consumer Confidence. Deutsche bank warping today if the fiscal xlif not properly dealt with, consume could be in for a rude awakening. Cliff is ny dealt with, consume could be in for a rude awakening. Third quarter gdp on thursday. A little bit of sandy and a little bit of fiscal cliff in this 1. 2 to 2. 2, those are the forecasts i have seen so far. Do you think perhaps the consumer is not reflecting the fiscal cliff issues because the last time, we keep going up to the edge of the cliff and then things get things get resolved . Its a good question. It strikes n s me that looking at the debt ceiling debate i think consequences were equally stark but more easily understood, people anticipated that and more bad stuff in the economy. The Consumer Confidence numbers showed that job prospects looked good, home buying intentions look good, a buoyancy to the consume theyre wasnt there. Wasnt there. Face the debt ceiling. Yeah. Thank you, steve. Sure. As always. If you want more on this special coverage that we have, the crisis is in a special section of our website, riseabove. Cnbc. Com, check it out. It has some terrific information, ty. Breaking news now from the bond market. Twoyear notes up for auction. You saw the results flash across the screen a few moments ago. Rick santelli breaking down the action from the cme. Hi, rick. Hi, tyler f on the fiscal cliff could get such a good grade, aplus on a twoyear note auction, 35 billion worth. The yield was. 27, which was the offer side of the one issue market, 27 1 2 was the bid. So, price title f we look at the indirects, they were 34. 4, a little better than 31 ten auction average. Last month, directs had an alltime record 38. 2. This time, 23. 6. But well ahead of 15 on a ten auction average. Heres the beauty of this auction. The bid to cover, ten auction average around 380 came in at 4. 07. Over 4 chasing every dollars worth of two years available that equals one year ago bid to cover and i couldnt find a hire one in my 22year database. So aplus for the first of three auctions totaling 99 billion. Sue, its all yours. Rick, thanks, ill take it. As you may know, European Finance ministers did reach a Debt Reduction deem for greece, open he can the door up for support of greeces teetering banks. Thoughts now on that deal from our guest with jpmorgan funds, more than 1. 3 billion in assets. Good tough back. Thanks for having me. We are going to talk later with you how to invest against the environment we find ourselves in now this deal greece has reached, do you have confidence that its enough, basically shore up the banks to get them enough down the line . A step in the right direction. We knew the last time wed restructuring it wasnt going tonight end of t if youre asking me are we completely now through and behind and is this whole greece saga and debacle behind us, that im a little bit concerned of. You have to find a way to help these economies and peripheral europe grow i think a lot of these calls for austerity needs to be pawed, abandoned. You need to talk about more debt forgiveness, possibly grants rather than loans. These are steps in the right direction but again, i think we will see over the next year. How easy is it going to be to get growth into the equation, given where they are now . Incredibly difficult. One of the things you can do right off the bat is recognize when your economy is in a very, very severe recession, practically depression, just call it what it is, raising taxes, cutting spending and laying off more Public Sector workers isnt going to be the solution. What you are doing there enforcing all this us a ter sit pushing many of these economies deeper and deep near the hall. I think the calls for austerity, may make sense in the long run need to be pawed, have to find a way to help these economies return to growth and then start easing in these austerity measures. Joe, we are going to talk later about the fiscal cliff and how to invest here at home and globally as well. See you in a few minutes. Now to courtny reagan with a market flash. Hi you court. Hi, suit. Shares of monster, a company we have been watching closely, of course, the controversy involving the Energy Drinks, shares ring off the highs, still up almost 12 1 2 . Goldman sachs says that the fda response to letters sent by two senators on the safety of those Energy Drinks will likely be benign as far as regulatory concerns go. Facebook shares have been on a tear lately up more than 30 the past couple of weeks so has the social media giant finally convinced investors that its worth a second look . Plus you can the chevy volt still struggling to make inroads with buyers but gm now doubling down with a big bet on electric. Phil lebeau live at the l. A. Auto show. Phil . Im sitting in the allnew chevy spark ev. At a time when electric car sales are struggling in the u. S. You is this the right time for gm to roll out an allelectric compact car . That story coming up on power lunch. Sfx sounds of african drum and flute look whos back. Again . Its embarrassing its embarrassing we can see you carl. We can totally see you. Come on youre better than this. All that prowling around. Yeah, youre the king of the jungle. Have you thought about going vegan carl . Hahaha you know folks who save hundreds of dollars by switching to geico sure are happy. How happy are they jimmy . Happier than antelope with nightvision goggles. Nice get happy. Get geico. Fifteen minutes could save you fifteen percent or more. Shares of General Motors today, as you see, down two pennies there 25271 despite weak sales of its chevy volt, a good looking car, the automaker doubles down on electric by unveiling a new model. Our phil lebeau is behind the wheel at the l. A. Auto show. Phil . Tyler, we are going to see more electric vehicles coming from gm, starting midmiddle of next year this is the new chevy spark ev. When you look at the chevy spark, saying to yourself, looks like a little compact car it is the first Pure Electric car from General Motors since the ev one. It goes on sale in california and oregon only, middle of next year. Gm expects the press point to be somewhere around 25,000. The allimportant question, what is the range going to be, how far will it go fully charged . Gm is not saying at this point, only it will be competitive with other electric cars. Speaking of other electric cars this market is struggling now look at auto sales through september of this year. 73 , almost 8 million vehicles in the u. S. , are gasoline powered. Still a predominant source of power train in this country. Hybrids, 279 , 300,000. As for Pure Electric, just 8,289 Pure Electric cars sold in the u. S. Right now. Take a look at shares of General Motors in the last year. If you were a gm investor in the last year, up 24 . A lot of people talk about gm ought to learn what they are doing at tesla, tesla leading the way with electric cars. Gm versus tesla, no comparison, gm up 24 , tesla up just 1. 4 . As i said at the beginning of this report, you will see more electric vehicles coming from General Motors the next couple of years. Tomorrow morning, first on cnbc, squawk on the street, talking with mark roy, the head of gm north america, not only about the spark ev, tyler, but gm doubling down on electric and extended range electric vehicles, believe this is the market to be in the years to come. What do they base that an awful lot of taxpayers still with a stake in that company would be skeptical saying why are you doubling down on a Car Technology so far done nothing but louz money . Their belief is that in the long run, it will pay off. You bring up a good point, tyler. Going to be a lot of people who look at this and say listen, the vol has not lived up to the sales expectation bus youre going to be selling it soon in china, expect seams to ramp up there cadillac an ev. Why make all of this vernlgts you talk with dan ackerson says emphatically evs are the future for this industry, maybe not this year, maybe not next year but down the road, why they continue to invest in electric cars. Thank you very much, phil lebeau in los angeles for us today. So, what do you think of the electric car . Go to finance. Yahoo . Com results coming up later on power lunch. We are watching facebook. The last two weeks, 10 , 25 the past two months. People thinking facebook has turned a corner. Julia boorstin is in los angeles with details on that. Hi, julia. Hi, sue. Even with some new privacy concerns, things are definitely look up for the social network and the stock is holding on to the gains the last two months. Two of wall streets most bearish analysts have turned to bulls, bernstein and btig upgrading the stock in expectation of a surge in mobile ad revenue, facebook has to walk a delicate line. More ads good for the bottom line but could turn off users. Facebook survived the biggest lockup explorations without a flood of selling. Instagram, 10 million photos uploaded over the weekend. The fad growth the acquisition was worthwhile and facebook building new revenue streams, yesterday, part energy with apples itunes for the gift service. Facebook does face growing privacy concerns after proposing some new policy changes to advocacy groups just yesterday urged facebook to withdraw some of those changes. We will talk more about those privacy issues and how facebook is handling them, a topic face book is familiar with coming up on street since. Sue, privacy is something facebook know it is needs to keep it in check. 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