a wall street record! the s&p hits a new high, as traders prepare for jobs data. in today's cover story... the big picture.... inside the business of restoring damaged works of art. plus.... how traders are reacting to a bleak winter in retail. and....in traders unplugged...why stepping out of the spotlight means mad money for a washington insider. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's friday march 7th. i'm angela miles. in today's first look: the february job's report is due

out this morning. the market predicts 163,000 jobs were added to payrolls and the unemployment rate will remain unchanged at 6.6% ahead of the news there were more buyers than sellers on wall street. the dow added on 62 points, the nasdaq lost 6 and the s&p closed up 3 to an all time high of 18-77. that's the 50th record in the past year. the wall street journal reports cerberus has reached a preliminary agreement to buy supermarket chain safeway for $9 billion. the deal's value is $40 dollars per share. and music, film and interactive festival south by southwestl starts today in austin texas. lady gaga is amoung the headliners. mark sebastian of swan wealth advisors joins us this morning. he is at the ready for some trader talk with us. what is your plan of attack with that jobs number coming out today? >>non-farms is interesting. i think that we're now at a point where within a range the

market's gonna act as we expect. so a small miss, a small win. i think that the s&p's will do as we expect. so if we beat a little bit the s&p's will probably rally. if we miss a little bit the s&p's will sell off. what is interesting is what if we get a really big miss or a really big win? then what's going to happen? does that bring in the federal open market committee into play? the answer iscertainly on a big miss. i don't know so much on a big win. it could be interesting if we get a really big miss in the market rally. >>what have been some of your better plays as the market has soared? >>the plays that have really worked have been the financials. they got absolutely destroyed in the selloff and they have rallied much better than even the techs have off of this. if you look at what's moving the s&p, financials have done really well the last few days. >>thanks for being on the show mark. have a good trading day. >>you too.

it's on. president obama is taking steps to impose costs on russia for its responsiblity in the ukrainian crisis. i signed an executive order that authorizes sanctions on individuals and entities responsible for violating the soverienty and territorial integrity of the ukraine or for stealing the assets of the ukrainian people. the president believes taking this path gives the u.s. flexibility in the situation and could serve as road to de- escalate the tension. the executive order from the white house also calls for a travel ban into the u.s. by individuals involved the crisis. and freezes u.s. assets and property of any russian involved in the invasion. the state department is issuing visa restrictions for a number of officials. secretary of state john kerry spent a second day thursday meeting with russia's foreign minister. while the u.s. house of

representatives overwhelmingly approved a bill allowing for $1 billion in loan guarantee to save the ukraine from a default. it still needs approval by both chambers of congress. paul eggers is filling in this morning for chuck coppola. and paul how is corporate america responding? angie...investment firms are becoming concerned about a possible global ripple effect if the conflict escalates between russia and ukraine. according to reports some hedge funds are lowering exposure to the area and hedging portfolios. credit suisse says: hedging activity rose from 13 % last week to 17% this week. while few hedge funds are actually exposed to ukraine and russia... more are investing in downside protection.. a big jump in americans' net worth. the stock market boom and the housing recovery are putting more money in people's pockets. americans became $10- trillion richer last year, according to new data released from the federal reserve. $2.3 trillion in new wealth is credited to rising home prices. while most of the gains came from the stock market as it

soared 30% last year. a push for higher wages is sweeping the country. as president obama continues to campaign for a federal minimum wage bump...local governments are getting a head start. this week lawmakers in maryland and minnesota are debating new wage laws. and in hawaii, a bill for two pay bumps over the next 3 years, passed the state senate, and is now headed to the house. city officials are also chiming in on the issue with chicago mayor rahm emanuel, and seattle mayor ed murray endorsing the changes. also from the labor market-- american companies planning job cuts fell in february. employers planned to cut nearly 42-thousand positions -- that number is a 7.3% decline from january', last month's cuts were a 24% reduction compared to a year ago, according to a new report from challenger, gray and christmas. the financial sector had the largest share of planned cuts at nearly 10- thousand,

hundreds of i-b-m workers go on strike in china. upset over big blue's transfer of a computer- server factory to lenovo group -- workers are protesting. they say they are not being offered sufficient severance if they choose to leave, and fear if they stay, they could face falling wages. china declares war -- on smog. acknowledging that pollution is a major problem for the country, premier li keqiang-- called the heavy pollution a "red light warning". among the premier's goals: reducing energy consumption and emissions. any environmental protections are considered to be at odds with china's main goal of economic growth. back in the us retailers are reeling from wicked winter weather. although costco did not blame the cold for weaker than expected earnings, one analyst believes it probably could have played a part. freezing temps, ice and snow are putting a damper on comparable store sales almost across the board. the situation may not change much this spring..according to jim

dion of dionco inc. " we know in retail that when we lose that sale because of weather or because the customer didn't show up, there really is very little, quote unqote, pent-up demand where they will comeback and spend that amount that they would've in th past plus the one that they're supposed to spend today -- that simply doesn't happen" and staples is feeling the sting from slow sales. the office supply chain is closing 225 stores to save $500 million dollars. the retailer is facing increased competition from amazon. sellers slammed staples stock on thursday, causing a 15% drop. the inventor of bitcoin has reportedly been unveiled. satoshi nakamoto is a 64 year- old japanese american who lives in a modest home in temple city, california. the father of six remains as mysterious as the currency he created. according to in-depth reporting done by newsweek, even nakamoto's family didn't know of

his connection to bitcoin. that mysterious google-owned barge that's been parked in the san francisco bay has found a new home. the four story vessel is on its way to stockton, california. google never explained why the barge was in san fran or what it would do there. parked without a permit in san franciso's bay since last fall the city demanded the barge set sail. google says the ship had grown weary of all the attention and was looking for a break. it's every bacon lover's dream. waking up to the sound... and smell ...of freshly cooked bacon. oscar mayer wants to make it a reality. it's developing an iphone device that would emit the smell of bacon, and sync with your alarm clock. a former goldman sachs executive who was convicted of 6 counts of securities fraud-- is going back to school. fabrice tour. a-k-a fabulous fab reportedly will fulfill the

teaching requirements for his phd at the university of chicago. the former bond trader will teach grad students. he was found guilty of intentionally misleading investors in a subprime mortgage investment 5 years ago. changes to the sat test could bring new business to test-prep companies. the college board is dropping the mandatory essay and making additions to the math section. when the test has changed in the past- business has increased at companies such as kaplan test prep. parents reportedly spend between $1,000 and $40,000 for courses and private tutors who teach students how to take the test. books and online courses run from $50 to $250. some consumers may be planning more meals at home. a new survey finds more than a quarter of americans expect to spend less at restaurants this year. the author of the study, alix partners, says fewer americans are dining out each week, due to a desire to eat healthier and save some cash. however the national restaurant association projects restaurant

sales will increase 3% this year. americans are more than ready for a break from the winter weather. joining us for spring fling from the bahamas is jeanine tornatore of orbitz. good to see you and boy that looks gorgeous. will planes be packed with so many people scrambling to get out of dodge? >>yes in fact 9 of our top 10 destinations this year are to warm weather escapes. i think that the majority of the country is looking to hit the beach. >>what are some of the fastest growing areas you are seeing? >>our number one destination is las vegas. we also have 4 destinations in mexico that make our top 10 list for spring break this yearcancun, riviera maya, puerta vallarta, and playa del carmen. although they also have some of the most expensive airfare pricesupwards of $600 on average per flight. >>wow. so how do we get a great deal? >>there is still opportunity out there to get a great deal. the good news is for families a

lot of the spring break this year is a little later like early april through mid-april. booking a package and combining your airfare and hotel and also look for promo codes. they are out there without blackout dates in many cases. orbitz has oneit's called outta here, like get me outta here which will save you 15% on hotels. those small things can really help people save this year as well as being flexible with your travel dates. >>thank you so much jeanenne and we're gonna get out of here for just a minute but you enjoy that warm weather. >>thanks angie. still to come: as the market rally closes in on an anniversary...is a buzz kill waiting in the wings? plus... meet the team that give precious works of art, a second chance to shine. that's in our cover story.. and.... why a buyer is returning this amazing gem to sothebys.

that's after this break!

sotheby's auction house now owns the world's most expensive diamond... again. the auction house sold the 59 carat pink diamond back in november for a record 83 million dollars. however, it's buyer defaulted on the payment and the gem is back in sotheby's inventory. if you are in the market for a brand new rock, it's dropped in price back to a value of 72 million dollars. owning art is not as easy as it sounds. pieces of priceless craftmanship and creativity also require a good bit of care -- and, of course, insurance. in today's cover story we go inside the world of art conservation to reveal what's required to protect a one of a kind investment. april hann runs a kind of emergency room for fine art.

" we're on call 24/7 for client's immediate needs, get it to safety and start the triage process." pieces from across the country come to the conservation center in chicago for safe keeping and restoration when disaster strikes. "for hurricane sandy we were working with about 15 clients and recovered about 6,000 works of art in about 3 weeks in new york" but its not always mother nature that mars a valuable work of fine art. " i've heard lots of stories of people climbing on chairs to hang their valuable painting painting and they fall off the chair and damage their painting, so... " of course, wherever there's risk of loss, there's also insurance coverage. by paying premiums typically lower than homeownwers policies, collectors can protect

their art investments. " in most cases their insuring an entire collection and that can be everything from fine art to jewelry to wine " more than just insuring art, firms like fireman's fund provide best practices for simple things like hanging paintings. "the installation hardware that's used can deteriorate over time// so i've been to collectors pieces and these multimillion dollar pieces and there's this old copper wire or its not appropriate for the weight at size of the piece " because an ounce of prevention can be worth a pound of cure. "over the years, many claims to just pices falling off the wall believe it or not. " damage done in transit, basically when art is moved, is the most common claim insurers see. preventing those kinds of accidents keeps the conservation center, and its network of art handlers, busy throughout the year. thanks for that report paul. coming up in chart talk ...a trader prepares for a "mixed bag" of retail results out today. and next...how apple is standing it's ground on climate change against activist investors. stay with us!

time now to gear up for traders unplugged-- joining us from the floor of cme group alan knuckman and scott shellady. good morning. the rally turns 6 on monday. what could cancel this party? alan: the first thingdid you know that candy used to be the anniversary gift for the 6th anniversary? don't fight it. it's gonna keep going until it

doesn't. this is half of the last big rally that we had from 1987-2000. so i'm still looking for more upside. scott: i agree with alan and the reason why is the only thing that will derail this is would be the fed. and the fed would be the one pulling the rug from under us. alan: but why would they do that? scott: they're not gonna do it. we're gonna have qealmost forever. the economy would be bad enough to derail it but we have the fed so we don't have to worry about it. alan: it doesn't matter if the market is high or low, you need to trade with risk control and that's the bigger issue more so than anything.

angie: topic number 2apple activism. some activists are making a lot of noise but apple is pushing back. who wins this war of words? scott: we need to pass around some kleenex. the war of words is really just a democratic process which happens to happen in a democratic society which someday alan will be a part of. alan: but that's what they're saying. they're saying if you don't like what apple's doing sell it. scott: if you don't like the stock sell it. if you like it buy it. alan: that's fine. it's nice to see activism on the shareholders side instead of the other way around where they get bullied. apple has the lowest volatility it's had in more than 2 years. that's a sign that there's going to be a big move in one direction or another. it's been trading between 500 and 575. the target is 650 which is 15% higher. it's a buy. angie: topic number 3past present. what is the better buy here? twitter or blackberry?

scott: i'm gonna go with blackberry all the way. it's got nothing really to do except go up. your risk reward is way better with blackberry. alan: see this? that's the pe ratio. that's zero. we've seen blackberry go from 5 to 10 in a mont h or two so it's already healthy bounce. it was a$67 stock in 2011. i like twitter leaning on 50 as a trade. but i like blackberry as an investment just because it's got a lot of intangible value. it's a brand. remember the name aol? they still have a huge amount of revenue. they still have a name and a brand. scott: i have 2 words for youmyspace. next. angie: here's your bonus round questionformer fed chair ben bernanke earned a reported quarter of a million dollars delivering his very first speech as the ex-head of the fed. what was his salary while at the federal reserve? was it: a) $500,000, b)$250,000, or c)$200,000? alan: there's money to be made in that speaking gig. bill clinton made $70 million just for speeches alone since he was president. scott: that's not the question. the question was what was his salary? alan: i don't know. scott: i'm gonna guess c. $200 thousand. angie: that is correct. good job scott. scott: there we go. you always have to have someone here to explain it to alan. angie: way to go guys. thank you so much for talking on first business. our show continues right after this.

talking to veterans about the real issues they're dealing with can be awkward and uncomfortable. we think to ourselves, "i never served. how could i understand? they'll talk about it when they're ready." and then we wonder why they don't want to talk. but when their behavior changes,

when they withdraw to themselves, increase substance use, or even talk about hurting themselves, it's time to act. because if we don't, our families and relationships will suffer. ask the hard questions. listen to the veterans in your life and show you care. make the call. it matters. when you recognize a veteran is in crisis, call the veterans crisis line at 1-800-273-8255 and press "1".

we are finishing off our friday with james ramelli of keene on

the market dot com. good morning. >>good morning. >>you have a couple of retail names you're watching with earnings coming out today. starting with foot lockerwhat do you think about the chart on this one? >>it's a good looking chart. the stock is trading just off of its 52 week highs. historically it's a relatively mixed performer on earnings. it's rallied 4 times and sold off 4 times over the past 8 quarters with an average move of around 4.5%. currently they're implying a move of around $2.15. they are a retailer and retail has been shaky depending on what segment of the market they operate in this year. but i think that foot locker is going to head higher on earnings. we've seen a lot of institutional money coming in and getting long via out of the money calls all through the first part of this year. i think the stock might head higher on earnings. like i said, the stock's trading around $42 with an upside target $2.15 higher. i'm going to look for a target right around $45.

>>we'll see if that happens. what about big lots? this is a big discounter. >>big discounter. we haven't been seeing these names do as well this year. the stock also has some mixed earning performance historically. it sold off 4 times and rallied 4 times over the past 8 quarters. the stock is sitting right around the $29 level and i think there's some big time resistance here at 29 all the way up to 30. i think this a level where traders will look to sell on any bad news. especially if they miss on earnings. i'm gonna look to get short big lots with a downside target around $3 lower right around the $26 level. >>what about the jobs number? do you think we'll see a rally or a sell on the new situation? >>i don't think we'll see the market selloff. i don't know how much the market can rally. we've had quite a big move over the past couple of days this week. i think that of the number comes in light they're just going to blame it on the weather anyway and i think the market could still head higher. >>thank you james. that brings our week to a close. coming up next week...tips on how to stretch your tax refund to the max. and before we take off a reminder to spring your clocks ahead on sunday. from all of us at first business...have a great weekend.

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