the wage debate goes global---as workers protest in mass.. in today's cover story... why regulators are trying to teach an old dog new tricks. plus... there's something in the air that could be controlling how you spend your money. and... friday fun with traders unplugged! the guys reveal if albaba's ipo is a buy. first business starts now! good morning! i'm angela miles. it's friday, may 9th. in today's first look: high flying stocks grounded again! for the third session in a row the nasdaq landed in the red thursday on selling in momentum stocks such as tesla and facebook. the dow ended in the green up 32 points, while the

nasdaq lost 17 and the s&p 2. gold and oil were nearly flat on the day. in earnings after hours: symantec reported a 14% jump as it cut costs. however, revenue dropped 7%. the stock inched up slightly after the close. grub hub profits more than tripled. the online delivery service recently went public. that stock rallied 1% after the bell. and, the federal government had a budget surplus in april of $114 billion. according to the congressional budget office. the biggest april gain since the financial meltdown. what's in store for the stock market on this friday? we turn to trader mark sebastian of the swan wealth advisers for some answers. mark lots of trouble in tech land right now. would you be a buyer of any of these stocks? > > i-- probably not. i think the tech sector and small cap got way ahead of itself in the back half of 2013 and early 14

and i still don't like a lot of what i'm seeing and if you look at the rvx and the vxn which is the vix of the russell and the vix of the nasdaq, they are still sky high and saying steer clear. > > what about the overall market here? we are having a hard time getting a clue as to what to watch. we've heard from the fed chair, we've heard from retailers, earnings are winding down. where are you looking? > > well take a look at what happened yesterday: we had a bond auction go poorly and the market had a huge turnaround. i think that's going to be the key. watch how the 10 year and the 30-year bonds move, and that should give us a pretty decent clue of what the s&ps are going to do for the day as well as keep an eye on the russell 2000. in her day, that's been a great leader of where the s&p is going to end up. > > we will do that. thank you, mark. > > thank you. as the minimum wage debate riles lawmakers...federal reserve chair janet yellen weighs in. "it's likely to have some negative effect on jobs and its a question mark exactly how

large that impact is." yellen told lawmakers in a testimony that the hike would help some individuals.sylvia allegretto, an economist with university of california berkeley argues higher wages would lead to more people getting off public assistance, and boost gdp. "well we know that those who don't have a lot of money in their pockets... if you give them money they will spend it. so they will disproportionetly spend the increase in their wages, in their local communities, which would be a good thing." allegretto adds that historically-- pay hikes have not resulted in job losses. paul eggers who is filling in for chuck coppola today has more on wage rage... angie, low pay isn't just dividing the u.s. around the world... fast food workers are preparing to strike. in over a dozen countries, employees of mcdonalds, burger king, wendy's, kfc and others are planning demonstrations on may 15th --when they will demand an hourly wage of 15 dollars. that's as subway ceo fred deluca shifts to supporting

a wage hike. he previously told reporters it was a "bad idea." in the u.s... demonstrators tell us, the debate is becoming more localized. "municipalities all across the country are starting to take back their own economies by raising minimum wages. you see it in seattle,you see it in san francisco, you saw it in sea- tac" that was camille rivera, the executive director of united new york -- a group pushing for higher wages in new york city. the group contends 8 dollars an hour does not reflect the reality of what it costs to live there. labor groups are critizing president obama's trip to walmart today. the president is in california. white house officials call his stop at walmart in mountain view a nonpolitical event focused on the retailer's energy efficiency. however union reps contend walmart is known for low wages, few benefits, unreliable hours, discrimination against women and damage to

the environment. the president of the united food and commercial workers union says the visit sends a terrible message to workers across america. walmart has no comment. snapchat is settling with the federal trade commission over privacy issues. messages on snapchat's mobile app were supposed to diseappear in a few seconds-- but the ftc says messages could be saved without the users knowledge. and accuses the company of collecting contacts without permission. snapchat agreed to a privacy program that will be monitored by an outside expert for 20 years. 19,000. that's how many jobs will be cut during the next 3 years at barclays. the bank based in the uk has been at the center of scandals. the ceo wants to created a leaner firm and retore its reputation in an ongoing overhaul. last year, barclayls agreed to pay $453 million to reguators in the u.s. and the u.k. after admitting employees consipried to manipulate the libor rate to make money for its traders.

in today's cover story, nearly/ñ 7 years on from the start of/ñ the financial crisis, banking regulators and legislators are still determining the/ñ/ñ best'ñ measures to prevent a/ñ repeat.ñ the uncertainty has given rise to a new expression in/ñ the'ñ/ñ financial system. the words can be seen and heard just about everywhere "new normal" "new normal" but a universal meaning for the ubiquitious expression is hard to come by, especially when it comes to banking regulation. a federal reserve conference in chicago brought together key stakeholders to set forth a clear future for financial oversight. "the regulatory system should aim to offset the perception of too big too fail status. which carries with it the possibilities of funding advantages in normal times and protection of creditors and even shareholders in highly stressed times." that means creating and implementing new rules to flip the script on the biggest problem in the old regulatory

structure. "the gains were privatized, the institutions kept the profits and socialized the losses, sharing them with the taxpayer." the"new normal" regulatory framework post crisis comes from passage in 2010 of the dodd- frank wall street reform and consumer protection act and the jury is still out on its success. the legislation bears the name of former congressman barney frank, but he's not optimistic that any positive changes to banking regulation will come from congress. and theres nothing new or normal for his reason why. "the atmosphere in washington is so toxic right now that nothing can be improved because nobody trusts each other." frank added that his biggest regret fropm the bill that bears his name is the failure to 'ñunify the commodities futures /ñ/ñtrading commission with the 'ñsecurities exchange commissio. he believes there's no good /ñ/ñreason why the two regulatos /ñ/ñaren't working together as ñ institution. oñ'ñ/ñ freddie mac and fannie mae are on firmer footing since the

financial crisis... combined fannie and freddie generated a blockbuster fs first quarter of $9.3 billion in net income. the mortgage related firms will pay back $10 billion to the u.s. treasury in june. bringing the total to $213 billion topping the taxpayer bailout of $188 billion. a cash craze is happening in the housing market. realty track reports a record of home sales were in cash in the first quarter. "all cash" deals work in favor of buyers-- who get around strict lending rules. mortgage rates hit a new low 2014. the 30-year fixed dropped to 4.21%, the 15 year is down to 3.32. the next move by russian president vladimir puting is becoming a guessing game. but a researcher at mit believes... sanctions are taking a larger toll on the russian economy. "it's clear that certain businesses have pulled back and russian debt has been downgraded to just above junk bond status, and people are really sort of waiting to see what the next round of sanctions

will be, depending on what happens with ukraine itself." on úgúgúgwednesday, putin urged pr- rebels in east ukraine to postponeúgúg a vote this weed onúóúóúo autonomy. rebels saye vote is stillúgúg a go. thursda, putinpgpgpg reportedly oversaw militaryúgúg exercises involving russia'sxgúgúg nuclear forces. d even though he ordered russian troops to pull back from the ukraine border, u.s. officials says it hasn't happened. mcdonald's is attempting toll spice up sales in the u.sy andy abroad-- it may addl seasonedyl fries to the menu. usa today says the chain will test the fries in northern california and st. louis. the "shakin' flavor fries" -include garlic parmesan and spicy buffalo. mcdonald's april sales were unchanged at 1.2% which was

better than analysts predicted. warmer temperatures and a late easter improved sales for retailers.. according to thomas reuters -- retailers overall posted same store sales in april that increased 4.6%, which is considered a modest gain. it's also the second consecutive month that sales have topped expectations. the ipo calendar gets a reboot its public debut today. the energy company was expected to price between $19 and $21. the ticker symbol is pbfx. on thursday cheetah mobile closed just over $14, its opening price. next week beauty product company jum-ay international holdings, plans to price between $19.50 to $21.50. ticker symbol is "j-m-e-i" and cancer care company 21st century oncology holdings could price between $14 to 16 ticker symbol is "i-c-c". in earnings watch... single serve k-cups are selling well

for keurig green mountain. net income rose a robust 22%. and, the forecast for surpassed estimates. wendy's improved profits by sprucing up restaurants and offering more premium fast food. even though revenue declined 13% it was still better than what wall street expected. amazon is adding 15 more u.s. cities to its sunday delivery list. the e-tailer already offers seven-day delivery in new york and los angeles. now it will include indianapolis, new orleans, and philadelphia, among others, with more to come later this year. shipping charges00 will remain the same s weekdays. 0000 they say it's the thought that counts... and its especially true this mother's day. retail me not says the majority of moms expect a gift on moms day, but mainly want just like a little recognition for all they do. "they first and foremost want to spend time with their families, but also, they would

like a gift certificate to a spa, a000 nice meal out, a gift card to00 their favorite store.o these000 things are very easy to find." the average american spends about 68 dollars on good ol mom. commuters are trading in 4 wheels for 2. biking to work has exploded...jumping 60% in the last decade. the census bureau says workers are taking advantage of an increase in bike lanes and bike share programs. portland has the biggest population of bikers, followed by minneapolis. still to come: hot tech stocks have cooled off... is it time for investors to chill or warm up to momentum plays. plus... does alibaba's success hinge on china's economy. and after this break... bill moller smells something fishy in the retail industry... don't miss this...

the power of scents... and i mean-- this kind of scent. what our nose detects has a profound effect on us, and businesses are catching on. scent is now being introduced into the air in retail stores, airports, apartment buildings - even banks. the industry even has its own trade group now. jennifer dublino is vice president of development for scent world. how does scent, jennifer, actually influence our feelings and actions? > > well scent actually is the only one of our human senses that goes directly into the limbic system of the brain. the limbic system is where the seed of our emotions and our memories. so for marketing that's extremely important because when you have a brand or product or store, you want to make sure that people remember who you are and that they are emotionally connected with you. theirey are doing it with eyes, their ears and now with their nose. it's interesting. how big of a global scent marketing industry is this, and how fast is it growing?

> > right now the industry is about 200 million worldwide and it's been growing about 10% per year, but now we're actually seeing an increase in the growth as more and more brands are catching on to how this can help them improve their sales and enhance their customer experience. > > you talk about brands so within scent marketing, there is scent branding sort of a company's scent logo and then just sort of ambient scent which is something to enhance the shopping experience. > > that's right an old factory logo is similar to a visual logo in that it is specifically tied to that brand. so for example if you walk into and abercrombie and fitch there's a certain smell and if you smell that scent somewhere else, it is immediately identifiable with that brand. on the other side you have a more general ambient scensing which may be tying in with the actual products that are being sold. for example if you have a

bathing suit store, you might have the scent of coconuts and pina coladas. to get people in the mood for that. bloomingdale's has a baby powder department.ir baby getsat kind of thing it'se in the mood and pleasant kind of smell so they want to stay there longer and they end up buying more and really enjoying their shopping experience. > > and jennifer i know you have scent world, your trade show event coming up in a few weeks in new york. thanks so much! > > thank you. coming up... a trader who smells money in twitter and tesla. and after the break.... should you traderbaba's ipo? one findthe answer is simple. out next.

angie: friday just became even better! the guys are here for traders unplugged. joining us from the floor of cme group, alan knuckman and shellady ready to throw down their trader thoughts. here's round no. 1: blue chips and politics... only one stock in the dow has not contributed to the clinton family in some way

including projects that help haitian earthquake victims. which blue chip do you like? alan: a little spin of politics, i like all the blue chips as you are probably going to know, but only 12 of them right now are negative on the year so i think there's a lot of opportunity. i especially like goldman sachs here in these levels. obviously they're in the financial business so i think there's money to be made, but i do want to state that politics is money. money is politics. scott: talking about politics, in a failed effort not to release my persuasion, i'm going to go with the only one that did not give money to the clintons, unh, it looks like it's in an uptrend... alan: trade with your head not your heart! scott: it looks like it's in that trend to channel right now. if it goes below 73 i don't like it, but right now it's still in a technical upswing and i'd stick with that one. unh, the only one not to give any money to the clintons. i'm on board. inie: round no. 2: nations onbers. china is said to be u.s.ay to surpassing the as the number one economy. where does that leave india and

what is the best money move for investors? scott: i'm going to say between the three: the u.s. india and china, two of them have something in common that we don't... alan: lots of people! there you go... scott: ... and as long as you've andover a billion people theyatural resources that have and have had for a very long time and still can't get it together, i'm sticking with america. alan: large numbers theory... yes, i like china. obviously the emerging markets have had a rebound here that we've seen 15 percent since february ,but if you look at india in particular, it looks like we could see another 35 percent move in that index... its money my friend! scott: but you want to stick with-- they've got the natural resources and the people and they haven't been able to get it together. alan: i know you're patriotic but if you follow the top indian stocks, i think they have a lot of upside potential. scott: ok angie: and round no. 3: open sesame... should investors buy the alibaba ipo on its opening day? alan: no... i don't buy it. why would to chase something? if it opens up higher... ittt: i'm going to simplify for everybody out there: this is a great stock. 40n: alibaba and the thieves! scott: i don't want to buy it either, but is what's going to be great about it, it's going to be a way that the u.s. or the average american investor

can play china. it's a proxy for china even though it may not have a lot to do with how their economy is doing at the moment, it is going to be a proxy for china so if things are going well in china it's going to go up. if things go bad it's going to go down. it's that simple. alan: it's an e-commerce vehicle that's going to expand things for everybody including amazon, including ebay which is leaning on that 50 dollars which i talked about all year long. from risk/reward, i love ebay here because that's going to help e commerce, pay pal, people are going to be buying stuff. angie: here's your bonus round question for today: mother's day ticker symbols. which one is phony? is it mom m-o-m, l-o-v-e o-ve, care c-a-r-e,or rose r- s-e? alan: they're all real. scott: i'm going to say none of them are real. alan: two opposing opinions! angie: the answer is love. we made it up, but we love our first biz moms. scott: because it's l-u-v alan: that's why i thought it was none of them. tricky. happy mother's day. thee: thanks for being on show. happy mother's day first business continues right after this.

who better to have on the show today than trader tim biggam? tim, you have been on the right side of the trade as far as those big momentum tech stocks like tesla and twitter. so what's your game plan from here? > > yeah absolutely, angie and looking at actually taking the other side here, you know, kind of avoiding them on the valuation-- certainly on a price movement basis earlier. down around here given the fact twitter is more than cut in half, tesla has come down about 40%... kind of liking the names

here. they look washed out on the charts so i'm nibbling... buy certainly on twitter anywhere around that 30 level and on tesla down around 180 so positioning by selling puts to buy there and actually going out and buying a few shares outright. > > tim, were you surprised then how far these stocks fell or did you really anticipate that? > > i really anticipated-- timing is the question: how high will they go before valuation gets out of control and that's the one caveat you really don't know. so the one thing if you look back in the history of the nasdaq and other manias is eventually they do come back to earth but being too early is the same as being wrong so position sizing is always important on these kind of high momentum, high volatility names. > > any other names on your list of possible buys? > > yeah looking at some of the names in the utilities sector, again, given the fact that the tenure has packed on around 2.6% i think comparatively they're starting to look good-- they're gaining a little traction here so looking at the exelons of the world kind of the low-beta names as well-- kind of a barbell approach-- high mo mo with the real low momentum, real deep value names. > > tim i always count on you for having such a cool head. thanks for being on the show today. > > you bet-- thank you, angie. that brings our week to end... coming up monday.. tips on how take the worry "out" of paying for college. we hope you will b

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