Melissa your fault, washington, 70 of americans say the leaders are hurting the nation. You know, 77 of americans saw their taxes go up this month as well, even as calls grow louder for more tax hikes. Lori live tv on your smart phone, and how they plan to be number one. Liz claman live in the Consumer Electronics show in las vegas with the ceo of dish, joe clayton. Busy hour. Lets get where the markets hour on the floor of the New York Stock Exchange with nicole watching narcotics as we kick off watching the narcotics as we kick off earning season. The dough dow is to the downside, down 85 points now. Boeing down 3 , caterpillar, verizon weighing on the Dow Jones Industrials. Awaiting on alcoa to be the first to report the earning season, and, affect, so many names we are watching closely, however, right now, we are certainly right near the lows of the day, and the nasdaq down after a percent like the s p 500. I want to take a look at the retailer, sears, in particular, which we tack about the sales over the season. Holiday season, which was not as bad as some of the analysts expected, and now theres a change at top, the ceo stepping down because the family medical issues, and now the chairmans going to be stepping into that ceo role. Analysts, of course, follow the company closely with the stock down 5 right now. Back to you. Melissa any cole, thank you. Eia cutting Oil Demand Growth forecast today raising the u. S. Crude price estimates about a dollar a barrel for this year for the impact on the price of crude today, going to the pits of the cme, phil flynn, there in the pits, what do you think of the estimates . You know, i think its great news. You know, not only is the iea saying that were going to be producing more oil, overall, despite the u. S. Prices higher, overall, our gasoline prices are going to be lower. Consider this. The price of crude, over a hundred dollars for what seems like an eternity falls next year to 105 a barrel. In 2014, maybe below a hundred dollars a barrel to 99 a barrel. What that means is that were going to see prices that average 3 63 this year fall to 344 this year and maybe 334 next year and could see gasoline prices in many parts of the country below a gallon. Below 3 a gallon. That shows the production in the u. S. We are going to producing oil on, you know, on pace to do the highest since the 1980s. That is pretty incredible, and its changing the Global Energy stage as we stand here now. Great news definitely. Natural gas having swings today. Talk about that. I dont know whats swinging more, the natural gas or weather reports. We are going back and forth. Whats interesting in this report, natural gas prices, the spot prices, they fell a whopping 31 . That is incredible. The lowest prices for natural gas since 1999. You want an advertisement for shell Gas Production, that is it, and not only that, that shell Gas Production is cleaning the environment because we use more natural gas, using less coal, that means less greenhouse e mageses, and they are musing less emissions than they have in many years. Great news today. Wow, thank you so much. Great report. Thank you. Okay, switching gears here to talk about the housing market. Six years after the bubble burst, the Consumer Protection bureau set to outline a new set of home loan rules, but will the guidelines make the mortgage process transparent or add to confusion . Asking someone who has a wealth of experience in the mortgage industry, bill emerson. Great to have you with us. Great to be here, lori. Lori what a year quicken had. 70 billion in loans closed versus the prior here and record of 30 billion. That is tremendous growth. Why were conditions and even confidence among home buyers so improved in that time . Well, i think theres a variety of reasons for that. Number one, rates were low. Thats helpful. Number two, Market Participants shifted focus on what they wanted to do for mortgage, and then number three, with our platform, centralized nature of the platform with technology and process, Award Winning client service, folks needed a place to go so they were calling us and trying to find a way for them to help themselves. Lori 70 billion against 30 billion in loans closed the prior year. Is it growing faster than the housing markets recovering . Yes, no two ways about that. Its stabilized. Home prices bottomed out. Theres a little bit of an increase. Some regional players you are seeing multiple offers, but its not theres not a great recovery yet. Its good to see where its balanced out at, but theres long way to go. Lori quicken loans, the fourth largest va loan provider. You say the refinance program or harp is critical in the mortgage landscape. Character how the low equity borrowers are fairing. They are still primarily focused on an hfa or va mortgage, and the lending criteria there is tight. Its difficult to qualify for a mortgage today if youre a low equity borrower than in the past. As you indicated, they have the qualified mortgage rule here, hopefully tomorrow, and thats probably going to define the lending landscape here the next few years. Will it loosen credit or tighten further . Thats the question. Tas the question. Lori what do you think . Youre the insider. I think its going to be roughly the same, probably narrow credit a little bit, but roughly the same for what we deal with today, and thats given where it was to where it is, its better news than what we thought. Whats it mean carding to the cfpb, look to standardize home loans, present exotic loans, the all pay loans, ect. , and aim to prevent another subprime crisis. What does that mean . Just check the box on the loan you want . No. What it means is doddfrank outlawed the underwriting guidelines that existed that caused problems we had. The rules written now is the ability to pay, and its going to be its not a check balance. Its what theres lending cry criteria that exists based off the new rule, and if we lend within the criteria, its a qualified mortgage, and youll be good to go from an ability to repay. If you lend outside of that, youre going to have an increased litigation risk as a lender so folks are going to stay inside the four corners of that new box. Lori whats that mean for you . Considering the fact you have the robo signing settlement letting banks move forward. Are you looking at a competitive environment in the new year . Well see. I dont know if its more competitive. The settlement that took place really has more to do with servicing. I think that, you know, weve seen consolidation, and usually competition comes from having more players in the marketplace. I dont know that its more competitive and help the consumer from that perspective, as we see, but a lot of this depends. Theres the americay landscape that gets clearer here in the next few months. Lori dont have time, but Interest Rates, near the lows . Great question. I think so, but pick up a little bit. Lori all right, well take it. Thank you, appreciate you coming in today. My pleasure, thanks. Melissa they are called dark pools, institutions that trade large bonds outside public exchanges, and now regulator want to shine a brighter light on them. Adam is breaking the story. What do you have now . Thats right. This is out of the wall street journal report in which richard, the chief executive at fenra said in 2013 that they are intending to increase its oversight of dark pools. One of the issues and one of the legitimate uses of the dark pool is you can trade huge volumes of stock and avoid price manipulation, but to the downside, those who operate the dark pools have privileged information, and the question is do they protect the information or use it, one, to their own advantage, could front run, could sell information, that would be another form of front running if they used that to their advantage, and, in fact, a firm in boston was cited by the fcc for operating a dark pool and selling information or giving it to an affiliate athey were fined 800,000. Since mob since anybody watches what happens in the dark pools, this situation can occur. Its a red flag for a lot of people, and now they are saying they will increase oversight, but no details how they will do that. Back to you. Melissa adam, thank you so much. 77 of americans had taxes go up this month, and it could be just the beginning. New calls for higher taxes coming out of washington. 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Com to try lifelock protection risk free for a full 60 days. Use promo code gethelp. Plus get this document shredder free but only if you act right now. Call the number on your screen now lori mic k money with Charles Payne. This is why you watch; right, folks . Retailers as of late . Post christmas, and some hit good. One of the things about everyone down in retail is it makes expectations low, and this one particular stock, expectations are very, very low. Coach. Do you still go to coach at all . Melissa no. Lori you did a segment on coach a year ago, and you said the guy stuff is great. Melissa great point. Youre right, yoir right. Lori buy your husband something from coach, and i did, and he liked it. Melissa true in our house. Funny that men store factories working out well for them. They are branching out to the single stores and opening up all over the place, but this is a stock hit. Look at the chart. Its hit, 20 from the 52week high. Risk reward is not bad. Im in the sure why its taking off today. Some say its rallying in sympathy with the jew jewelers with the jewelers, but i think people are watching for a chance to get in. Same sales up 5. 5 , and china, up double digits, opened eight stores in china, seven in tiian, 48 in korea, and i like that area of the world margins steady. From evaluation, it looks good. Compare that to cores, peg ratio 105114. Price to sell, three time sales where course trades as six times, trading at oversold . I think it is over sold, worth looking at here for people interested in it, and it breaks out through 60 be a good shot at 65. Really . Yeah, could be a good play for a lot of people down here. Just be patient. Its not, you know, i still think michael kors took the lead, but they are coming on good. Take a look. If you walk by the mall at the madison pen pen inn n pennacle. Its a purse there. My wife does not she does not go in kors anymore. Shes a louie gal. I feel bad for myself. No way charles is retiring any time soon. Melissa lets check the markets, nicoles is on the floor of the New York Stock Exchange. What are you watching . Improvedded ten points since we last talk on the Dow Jones Industrials. Retailers, target, in plaf, because target is a name that did a lot of Price Matching, introduced Price Matching back in 2009. They continued to do so. They did so throughout the Holiday Season, but now heres the news. The news is they continue to do so throughout this entire year. Matching the price to some of their Key Competitors including amazon, walmart, toys r us, and even themselves so if there is some sale or a better price of something that you bought at target within seven days, bring your receipt in for the price adjustment. Its aggressive, animal analysts say, but if youre a consumer, you say, im at target, and i know they are right on with the best prices. Back to you. Lori nicole, thank you so much. Geithner out, and lew . We have been told for weeks now he may be next in line it take over as treasury secretary, but whats the future have in store for tim geithner . Details ahead. Melissa mcdonalds 2 esing chicken wings in the fast food restaurant. Stocks down 73 points issue and the dollar is stronger there versus the euro and the pound. Well be right back. Melissa 21 minutes past the hour. The fox news minute, border tensions rising after Pakistani Soldiers killed to indian soldiers in the disputed kashmir region. They are accused of disresulting a cease fire held for over a dead. Both countries claim the area, but the area is divided between them. Former representative giffords, and her husband launching Gun Control Initiatives seeking to reduce gun violence and prevent mass shootings. Today the the go Year Anniversary after a gunman killed six and critically injured give fards. Opening an investigation into the death of a Lottery Winner last summer. After new tests determine he died of cyanide poisenning and not natural causes. The family urged medical examiners to reexamine the case. Those are the headlines, back now to melissa and lori. Melissa thank you so much. Jack lew will likely take over tim geithner as treasury secretary, but what will geithner do as a private cents and what will others in obamas economic circles do in the months ahead . You called the jack thing a long time ago. Yeah, we were the first to report he was on the short list, at the top with larry fink and i think larry would be a better treasury secretary, and then, i think bloomberg reported another name, that was not in my mind. Jack lew, a guy that does a lot of legislative stuff, budget director, hes in there. Hes gone. What will geithner do . Hes taking geithners place. This is what geithner is telling friends. He wants a detox. He may take the year off, and his plans, according to friends who geithner spoke with directly, his plans are to write a book. He wants to write a book about the service in government. Remember, he was the fed chairman, new york fed president , important job in the financial crisis, went from the fire to the frying pan to the fire as treasury secretary in president obamas first year, and he plans to pin this, who is the publisher . I dont know he will not have a problem getting a publisher. If its written well and goes after people, hes the type of guy that will, and i will buy this book. What are others doing . Bill daly, former chief of staff, jack lew took his place, and bill told people on wall street he wants to run for governor, seriously considering it. Why is it important to say it to wall street executives . Raising money from them, senior people on wall street, talking about that. Interesting story. Well see if he does it. Heres the real interesting thing. Ben bernanke likely to step down; right . He wanted one more year, finish the term, who is going to replace him . Well, theres two names. At least the white house leaked two names at the top of the list, the short list. One is a guy named ferguson, roger ferguson, tia, you know, a former fed governor, and Corporate America for a long time, a ceo, and the other guy is the guy you always hear, but i think its serious this time, larry summers. Lori really . How is it leaked out . I want to give people context of the sources. Wall street firms have all lobbyists that deal directly with the white house; right . Thats now i knew about jack lew at the top of the list. Same with these guys. They are lobbyists, talking directly to the white house. This is the short list thats being, you know, compiled right nor, and it looks like its summers for the fed chairman or this guy, ferguson, and, by the way, its early. Names could change. This is what i have now, but my name list, my lists have been good. Melissa excellent. What else is excellent is the news on her ball life. Theres a meeting, and herbal life, and calls is a pyramid scheme saying its a company that should go to zero. Upon city, whatever it is, its bad. Thinks it should be zero. The company is fighting back. They hired david boyce, a high profile attorney. They will have a meeting, and wheres the investment . They are keeping it secret because of the press. The meetings at the Four Seasons Hotel at 50 and 57, i drink there regularly. This will be in the morning. By the way, great bar. Melissa thats the place to see to be seen. I thought you said cnbc. No, see and be seen, the place to go. No, thats not a place to go. Larry summers didnt like being one the economic advisers so why go to the fed . All the power in the world, are you kidding me . What an ego trip. You dont really the president s right hand man is a woman, vaerie, by the way,. Fair point. If youre an economist, other than treasury secretary, which he was already, thats the ultimate. Heres the other thing people forget, a side story. People forget how much prominence he has in economic circles, particularly when theres democrats on board