Seahawks' Paul Allen is the NFL's richest team owner

NEW YORK (CNNMoney)

The Seattle Seahawks owner Paul Allen is by far the richest in the league. The Microsoft (MSFT, Tech30) co-founder is worth about $17 billion, according to various estimates.

The Seahawks head to the Super Bowl for the second year in a row. This year they face off against the New England Patriots which are owned by Robert Kraft, who has a net worth of $4 billion, making him the sixth richest owner in the NFL.

The two men made their money in very different ways.

Related: NFL gets billions in subsidies from taxpayers

Allen helped Bill Gates start Microsoft when both were students at Harvard, and left the company with a chunk of its then privately-held stock in 1983 which translated in to the bulk of his wealth. Allen also made about $2 billion from the appreciation in value of the Seahawks and the NBA's Portland Trail Blazers, both of which he bought decades ago.

Bob Kraft, left, and Paul Allen, right, owners of the two Super Bowl teams, made their fortunes in very different ways.

By contrast, Patriots owner Robert Kraft made most of his $4 billion fortune in football. He bought his team for a reported $172 million in 1994, and today it's worth an estimated $2.6 billion.

Related: Seahawks vs. Patriots - How do the fans measure up?

There's only one NFL team with owners that aren't worth billions. The Green Bay Packers is actually publicly owned by its fans, who hold a special issue of stock in the team that can not be sold or traded.

Related: NFL earns record profits despite ugly image

First Published: January 30, 2015: 4:05 PM ET

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January was a terrible month for stocks

Stocks have been having a pretty bad 2015 so far.

NEW YORK (CNNMoney)

The Dow shed 3.7%, the S&P 500 has lost 3.1%, and the Nasdaq is over 2.1% lower.

Talk about a bad start to the year. A quick glance at the chart below shows what a whiplash ride 2015 has been so far with 7 days where the market swung up or down more than 200 points.

Related: Bears warn: A crisis could be near

There's an adage on Wall Street that the early days of the year are a good predictor of the full-year. Historically speaking, there's only about a 50-50 probability that the stock market will end the year on a positive note if January saw market declines, according to the Stock Trader's Almanac.

Dan Greenhaus, chief strategist at BTIG, points out that five of the last six down January's (2003, 2005, 2009, 2010, 2014) have not prevented the S&P 500 from finishing higher for the full year.

The one exception was 2008, but that was the year of the financial crisis.

But investors might take comfort that January of 2014 was even worse and stocks rebounded significantly to hit record highs in December.

"In an effort to note something positive we can say that while the [S&P 500] index is down [3]% or so this year, the index finished January 2014 down by 3.6%!" Greenhaus wrote in a recent research note.

This time last year the market was worried about an emerging markets meltdown and the impact of the Federal Reserve pullback on so-called quantitative easing (aka bond buying). Those fears are mostly gone. This January investors are worried about cheap oil and the global economic slowdown.

The energy and financial sectors were the biggest losers for the month. Energy is easy to understand. Oil fell below $50 for first time in early January and acted as a psychological trigger that spooked investors. This was followed up by earnings reports and announcements from Big Oil showing major cutbacks in spending and operations. There's little doubt that it will be a leaner year ahead in the energy sector.

Related: America's No. 2 oil company cuts spending

Financials were a bigger surprise. The big bank CEOs blamed Washington regulations for sluggish performance, but the reality is many bank's core investment banking and trading have been suffering.

There was one bright spot in January: Bonds.

As the stock market gyrates, investors have been fleeing to bonds. Several European nations even have negative yields on their bonds, a sign of just how much demand there is for a so-called safe asset.

In the U.S., the 10-year government bond yield is now down to 1.66%, the lowest point since the spring of 2013.

First Published: January 30, 2015: 3:54 PM ET

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Super Bowl tickets are most expensive ever

NEW YORK (CNNMoney)

The average ticket price so far is $3,554 -- about $1,000 more than last year, according to SeatGeek, which tracks online sales.

SeatGeek analyst Connor Gregoire said he does not expect the price for the few remaining tickets to come down before the Seahawks and Patriots face off on Sunday in front of 72,000 fans in Phoenix.

On Friday, the cheapest ticket was going for nearly $8,000 and the most expensive topped $24,000, according to SeatGeek.

And there are very few left -- only about 300 tickets on Friday. On the same day last year, there were about 4,000.

Related: Snickers cast Danny Trejo in Brady Bunch reboot

Getting a ticket to the Super Bowl is a tricky business. Only 1,000 are sold to fans at face value. The rest are divvied up among the league, which gives a lot to corporate sponsors, and the teams. Those tickets are either auctioned off to season tickets holders, or sold by brokers on the secondary market.

In the past few years, many buyers have held out until the last minute and, in fact, got a good deal as prices fell in the days leading to the game.

Game day is actually the busiest in the resale market, Gregoire said.

But this year prices have gone up. It's not entirely clear why. But there are fewer tickets than expected on the secondary market. That will leave some fans out of luck.

Related: Is a $45 million Super Bowl ad worth it?

First Published: January 30, 2015: 4:50 PM ET

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Super Bowl tickets are most expensive ever

NEW YORK (CNNMoney)

The average ticket price so far is $3,554 -- about $1,000 more than last year, according to SeatGeek, which tracks online sales.

SeatGeek analyst Connor Gregoire said he does not expect the price for the few remaining tickets to come down before the Seahawks and Patriots face off on Sunday in front of 72,000 fans in Phoenix.

On Friday, the cheapest ticket was going for nearly $8,000 and the most expensive topped $24,000, according to SeatGeek.

And there are very few left -- only about 300 tickets on Friday. On the same day last year, there were about 4,000.

Related: Snickers cast Danny Trejo in Brady Bunch reboot

Getting a ticket to the Super Bowl is a tricky business. Only 1,000 are sold to fans at face value. The rest are divvied up among the league, which gives a lot to corporate sponsors, and the teams. Those tickets are either auctioned off to season tickets holders, or sold by brokers on the secondary market.

In the past few years, many buyers have held out until the last minute and, in fact, got a good deal as prices fell in the days leading to the game.

Game day is actually the busiest in the resale market, Gregoire said.

But this year prices have gone up. It's not entirely clear why. But there are fewer tickets than expected on the secondary market. That will leave some fans out of luck.

Related: Is a $45 million Super Bowl ad worth it?

First Published: January 30, 2015: 4:50 PM ET

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January was a terrible month for stocks

Stocks have been having a pretty bad 2015 so far.

NEW YORK (CNNMoney)

The Dow shed 3.7%, the S&P 500 has lost 3.1%, and the Nasdaq is over 2.1% lower.

Talk about a bad start to the year. A quick glance at the chart below shows what a whiplash ride 2015 has been so far with 7 days where the market swung up or down more than 200 points.

Related: Bears warn: A crisis could be near

There's an adage on Wall Street that the early days of the year are a good predictor of the full-year. Historically speaking, there's only about a 50-50 probability that the stock market will end the year on a positive note if January saw market declines, according to the Stock Trader's Almanac.

Dan Greenhaus, chief strategist at BTIG, points out that five of the last six down January's (2003, 2005, 2009, 2010, 2014) have not prevented the S&P 500 from finishing higher for the full year.

The one exception was 2008, but that was the year of the financial crisis.

But investors might take comfort that January of 2014 was even worse and stocks rebounded significantly to hit record highs in December.

"In an effort to note something positive we can say that while the [S&P 500] index is down [3]% or so this year, the index finished January 2014 down by 3.6%!" Greenhaus wrote in a recent research note.

This time last year the market was worried about an emerging markets meltdown and the impact of the Federal Reserve pullback on so-called quantitative easing (aka bond buying). Those fears are mostly gone. This January investors are worried about cheap oil and the global economic slowdown.

The energy and financial sectors were the biggest losers for the month. Energy is easy to understand. Oil fell below $50 for first time in early January and acted as a psychological trigger that spooked investors. This was followed up by earnings reports and announcements from Big Oil showing major cutbacks in spending and operations. There's little doubt that it will be a leaner year ahead in the energy sector.

Related: America's No. 2 oil company cuts spending

Financials were a bigger surprise. The big bank CEOs blamed Washington regulations for sluggish performance, but the reality is many bank's core investment banking and trading have been suffering.

There was one bright spot in January: Bonds.

As the stock market gyrates, investors have been fleeing to bonds. Several European nations even have negative yields on their bonds, a sign of just how much demand there is for a so-called safe asset.

In the U.S., the 10-year government bond yield is now down to 1.66%, the lowest point since the spring of 2013.

First Published: January 30, 2015: 3:54 PM ET

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Seahawks' Paul Allen is the NFL's richest team owner

NEW YORK (CNNMoney)

The Seattle Seahawks owner Paul Allen is by far the richest in the league. The Microsoft (MSFT, Tech30) co-founder is worth about $17 billion, according to various estimates.

The Seahawks head to the Super Bowl for the second year in a row. This year they face off against the New England Patriots which are owned by Robert Kraft, who has a net worth of $4 billion, making him the sixth richest owner in the NFL.

The two men made their money in very different ways.

Related: NFL gets billions in subsidies from taxpayers

Allen helped Bill Gates start Microsoft when both were students at Harvard, and left the company with a chunk of its then privately-held stock in 1983 which translated in to the bulk of his wealth. Allen also made about $2 billion from the appreciation in value of the Seahawks and the NBA's Portland Trail Blazers, both of which he bought decades ago.

Bob Kraft, left, and Paul Allen, right, owners of the two Super Bowl teams, made their fortunes in very different ways.

By contrast, Patriots owner Robert Kraft made most of his $4 billion fortune in football. He bought his team for a reported $172 million in 1994, and today it's worth an estimated $2.6 billion.

Related: Seahawks vs. Patriots - How do the fans measure up?

There's only one NFL team with owners that aren't worth billions. The Green Bay Packers is actually publicly owned by its fans, who hold a special issue of stock in the team that can not be sold or traded.

Related: NFL earns record profits despite ugly image

First Published: January 30, 2015: 4:05 PM ET

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Is this the Super Bowl's next GoDaddy?

NEW YORK (CNNMoney)

If you've seen this year's list of Super Bowl advertisers, you might be questioning exactly what Wix is.

But while tech companies like Wix aren't quite household names, they've been betting big on Super Bowl ads for decades.

Most famously, Apple (AAPL, Tech30) did so with its 1984 Super Bowl Ad.

"It was an insane success," said Kelly O'Keefe, professor of brand strategy at the Virginia Commonwealth University Brand Center.

In those days, Apple was hardly the Goliath it is today. The company had gone public just four years prior. And its Super Bowl ad introduced the Macintosh, its first mass-market personal computer, to the world.

Directed by Ridley Scott, Apple's ad made the American event one of the year's biggest advertising stages and led to increased production values across the board.

Related: Victoria's Secret supermodels in Super Bowl gear

Wix is hoping to take a play from Apple's book -- and make a name for its brand with the 100 million people watching the Super Bowl.

Founded in Israel in 2006, Wix lets businesses and individuals build their own websites -- no coding experience required. It has 900 employees, 58 million registered users (80% of whom are small business owners) and offers its services in 11 languages.

Like Apple, Wix (WIX) is entering the Super Bowl after a recent IPO: It went public in November 2013.

In its Super Bowl debut, Wix features legends Brett Favre, Terrell Owens, Emmitt Smith, Larry Allen and Franco Harris. The former NFL stars use Wix to get their dream businesses online as part of its "#ItsThatEasy" campaign.

The stakes are high: Super Bowl ads cost $4.5 million, not including other costs like production, and talent, according to O'Keefe. (Wix declined to disclose what it spent on its Super Bowl campaign.)

Related: 25-year-old could earn $1 million from $80 ad

Coughing up money to secure a game day spot isn't nearly enough.

"In 1999 and 2000, we had a lot of tech companies who thought this was the recipe and many of those are not around anymore," said O'Keefe.

Wix has already rolled out nearly a dozen teaser videos on YouTube, its website and in a national TV campaign.

"We are updating and changing the campaign on a daily basis according to performance," said Chief Marketing Officer Omer Shai. "This is the year that we're comfortable [taking] the brand to the next level."

Apple's ad catapulted the company into the big leagues: within six hours of its 1984 broadcast, it captured $4.5 million in sales.

The Super Bowl helped other fledgling tech companies become recognizable names.

GoDaddy put itself on the map with its risque ads. In its 2005 debut, it satirized Janet Jackson's wardrobe malfunction from the year before. Monster.com's emotional 1999 "When I Grow Up" ad likewise made the site a go-to for job seekers.

Related: GoDaddy pulls puppy commercial from Super Bowl

"If you succeed, you succeed big. [But] there are as many failures as successes." said O'Keefe.

That includes the now-defunct Outpost.com, an online electronics retailer, whose 1998 spot featured gerbils shooting out of a canon.

"All they talked about was the name ["Outpost"]," said Derek Rucker, professor of marketing for Northwestern's Kellogg School of Management. "While this certainly works for awareness, there's no follow-up message of why users should care, or what their point of differentiation is."

Groupon's (GRPN) 2011 Super Bowl ad also fell flat in an attempt to make light of China's occupation of Tibet. Groupon later issued an apology and pulled its ad from airwaves.

"What a Super Bowl ad can do for a nouveau brand is give that awareness," said Rucker. "It can have huge implications."

First Published: January 30, 2015: 8:36 AM ET

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It's a Brady Bunch Super Bowl

NEW YORK (CNNMoney)

Snickers, in its upcoming Super Bowl commercial, has recast the feuding sisters Marcia and Jan Brady.

Actresses Maureen McCormick and Eve Plumb played the golden-haired teens in the 1970s sitcom.

But who needs the originals when you have Danny Trejo and Steve Buscemi instead?

Trejo, the pockmarked star of "Machete" and "Sons of Anarchy" who once did a stint in San Quentin, and Buscemi, the former firefighter who acted and directed in "The Sopranos," are well known for their edgy roles as grizzled gangsters.

Related: Sneak peak of 2015 Super Bowl ads

In the Snickers ad, the actors bring some street cred to the roles of Marcia and Jan and add vitriol to their ongoing battle for parental attention.

Their extensive Hollywood resumes no doubt prepared them for the ultimate role in show business: The Brady Bunch ... the Brady Bunch. That's the way they became the Brady Bunch.

First Published: January 30, 2015: 8:01 AM ET

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US economic growth disappoints at end of 2014

NEW YORK (CNNMoney)

America's economy grew only 2.6% in the final three months of the year, much lower than the estimate of 3.3%.

Overall for 2014, U.S. gross domestic product, the broadest measure of economic activity rose 2.4%. That's the highest mark in four years, according to the Commerce Department, but economist and policymakers want to see growth this year of a lot closer to 3%.

Related: We're on the verge of a crisis, bears warn

There are many signs the economic recovery is stronger. The U.S. had its best year of job growth since 1999 last year. The Federal Reserve ended its stimulus program in October, which is like taking off the training wheels. Consumer confidence levels hit their highest mark in 2014 since the recession began.

The disappointing growth at the end of the year comes on the heels of the economy's incredible 5% growth in the third quarter, which was the best since 2003.

Economists predict the U.S. economy will grow faster in 2015, but the new year has already brought its challenges.

Some are starting to warn that the hiccups could turn into a true illness.

Related: Middle class families are on financial thin ice

The plunge in oil prices is great for Americans who drive. The average household is expected to save about $750 on gas this year, but the rapid price drop is causing lots of layoffs for oil workers. Those losses could begin to spill over into other parts of the economy, especially in once fast growing parts of the country like Texas.

The strength of the U.S. dollar is another double-edged sword. The dollar is at an 11-year high against the euro and has risen substantially against most other global currencies. It makes travel cheaper for Americans, but it makes products exported to other countries more expensive -- and less attractive -- to foreign buyers.

Many large U.S. companies, like Microsoft (MSFT, Tech30), Google (GOOG) and Visa (V), said this week that the dollar's strength could hurt their sales abroad this year.

Then there's the global picture. Europe and Japan are suffering from deflation and flat lining economies. Growth in China -- a major importer of U.S. goods -- also slowed to its lowest point in decades last year.

There are new concerns that the malaise of turmoil around the world could hamper the U.S.

First Published: January 30, 2015: 8:52 AM ET

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Uber sued in U.S. over alleged India rape

HONG KONG (CNNMoney)

The lawsuit, filed in San Francisco on Thursday, claims that Uber did not adequately screen its drivers, or implement other basic safety measures that would have kept the plaintiff safe.

"Opening the Uber app and setting the pick-up location has proven to be the modern day equivalent of electronic hitchhiking," the lawsuit says. "Buyer beware -- we all know how these horror movies end."

The alleged rape, which took place in December, sparked protests in India's capital city, and calls for reforms that would safeguard women against sexual assault.

The Uber driver accused of carrying out the rape was found to have a long rap sheet, including at least four pending criminal cases in his home state. City transport officials subsequently banned the transportation app.

Uber said in a statement that its "deepest sympathies remain with the victim of this horrific crime."

"We are cooperating fully with the authorities to ensure the perpetrator is brought to justice," the company said.

The lawsuit seeks unspecified damages on behalf of the plaintiff, and the addition of safety measures including tamper-proof cameras and GPS tracking systems in Uber cars.

The victim, who remains anonymous, is represented by Douglas Wigdor, a high-profile attorney who previously represented the hotel maid who accused former IMF chief Dominique Strauss-Kahn of sexual assault.

Related: Uber's global ambitions hit roadblocks

Uber restarted operations in Delhi last week after applying for a local Radio Taxi license, a concession to regulators who are pushing the company to behave more like a traditional taxi service.

A license has not yet been issued. On Tuesday, Uber said it was operating as a not-for-profit in Delhi and waving all fees until "regulatory ambiguity is resolved."

Related: Uber restarts in New Delhi

Following the alleged rape, Uber has committed to adding new safety measures in Delhi, including an additional layer of screening and independent background checks on all drivers.

The company is no stranger to regulatory roadblocks. It faces legal challenges in a number of other markets around the world, a byproduct of its aggressive expansion and controversial product.

First Published: January 30, 2015: 1:16 AM ET

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Stocks: 4 things to know before the open

Click on chart for more premarket data.

HONG KONG (CNNMoney)

Here are the 4 things you need to know before the opening bell rings in New York:

1. Even more earnings: Chevron (CVX), MasterCard (MA) and Mattel (MAT) are reporting earnings before the opening bell.

Chevron earnings will be a particular focus as investors look for signs of how rock-bottom crude prices are affecting the company's plans. Mattel shares tumbled nearly 5% premarket after the company said sales and profits fell in the fourth quarter. Barbie sales dropped 12%.

U.S. stock futures were sharply lower ahead of the open.

On Thursday, the Dow Jones industrial average rose 1.3%, while the S&P 500 and the Nasdaq gained 1.0%.

2. Amazon jumps: Online retail giant Amazon (AMZN, Tech30) reported earnings Thursday that beat Wall Street's expectations. Its shares soared by more than 11% in premarket trading. Google (GOOG) shares were also firmer premarket.

3. A little bit of data: The University of Michigan will report the final version of its January consumer sentiment index at 9:55 a.m. ET.

Related: Fear & Greed Index

4. International markets overview: European markets opened firmer on Wall Street's gains, but turned lower in morning trade.

Greek stocks were steady, with banks continuing to recover after slumping earlier this week on fears about the future of the country's international bailout. Greek Prime Minister Alexis Tsipras will meet eurozone officials in Athens Friday for the first time since winning Sunday's election.

Russia slashed interest rates to 15% from 17% in a bid to prevent an even deeper recession.

Asian markets ended mixed. The Shanghai Composite shed 1.6% and the Hang Seng lost 0.4%. Japan's Nikkei gained 0.4% as the yen weakened.

Related: CNNMoney's Tech30

First Published: January 30, 2015: 5:15 AM ET

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Russia slashes interest rates to avert slump

LONDON (CNNMoney)

The central bank said it was cutting its key lending rate to 15% from 17%, giving greater priority to preventing a protracted slump than fighting inflation or propping up the ruble.

Russia's economy relies heavily on oil and gas exports. Western sanctions imposed on Russia over the crisis in Ukraine made it even more vulnerable to the collapse in global crude prices late last year.

As the ruble plummeted to record lows against the dollar in December, the Bank of Russia jacked up interest rates to defend the currency and prevent inflation spiraling out of control.

Related: Russia raids infrastructure fund to save banks

The emergency move drew howls of protest from Russian borrowers and businesses. Inflation has continued to accelerate in January -- as of this week it was running at 13% -- but the central bank said Friday it expected price pressures to begin to slow due to the fall in economic activity.

"A further substantial decrease of output is expected amid the deterioration of external conditions resulting from the oil price drop and foreign financial markets inaccessibility for Russian borrowers," the bank said in a statement.

The ruble fell on news of the rate cut to trade at nearly 71 to the dollar. That's down about 3% but still some way off the record low of nearly 80 hit in mid December.

Russia's economy will shrink by 3.2% in the first half of this year, the central bank said.

First Published: January 30, 2015: 6:15 AM ET

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Oil giant Shell cuts spending by $15 billion

LONDON (CNNMoney)

Shell said it was scaling back its planned capital investment by $15 billion over the next three years.

Oil is now trading around $45 per barrel, down from over $100 per barrel this summer.

Shares in Royal Dutch Shell (RDSB) fell by about 5% in London after the company said fourth quarter net profit fell 57% versus the same period last year.

"Shell has options to further reduce spending, but we are not over-reacting to current low oil prices," the company said in a statement.

David Madden, a market analyst at IG in London, described the cuts as "enormous." The move "signals cautious times ahead," he added.

Royal Dutch Shell's head office is in the Netherlands.

A string of other energy companies have already announced plans to cut investments and jobs due to the slump in oil prices.

BHP Billiton (BBL) announced this month it was cutting its U.S. onshore rig operations by about 40% this year. Schlumberger (SLB) recently announced plans to lay off 9,000 workers.

French energy giant Total (TOT) is also reportedly slashing capital spending by 10% this year.

But not everyone was feeling down about Shell's results.

"A poor quarterly result does not change our view that Shell has the greatest financial flexibility in the integrated oil sector," said energy analyst Jason Gammel from investment bank Jefferies.

First Published: January 29, 2015: 7:53 AM ET

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Ford promises bounce back year

NEW YORK (CNNMoney)

Its operating income tumbled 20% in the final quarter of 2014 and 30% for the full year, although that result was better than expected.

The nation's No. 2 automaker had been expecting to report a tough 2014, as it struggled with the cost of rolling out new models, including an aluminum version of its best selling F-150 pickup at the end of the year.

But the company raised its guidance for auto profits in 2015, saying it now expects to improve on the $3.6 million in cash flow that its auto operations generated last year. That outlook and the smaller than expected drop in operating profits lifted shares of Ford (F) in premarket trading.

Ford suffered a decline in U.S. sales in 2014, one of the few automakers to do so in what was the best year for U.S. car sales since 2006. Limited availability of the F-150 was a major reason factor in the decline.

Ford's global sales also declined by $4 billion during the year. But under CEO Mark Fields, who took the wheel in July, the company said it expects to get sales back on track, as well as benefit from continued growth in industry-wide auto sales, both in North America and overseas.

First Published: January 29, 2015: 7:49 AM ET

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Greece: Putin's new ally in Europe?

LONDON (CNNMoney)

The countries have a long history of economic, cultural and religious ties. Both are now proving to be a big headache for the European Union.

Greece's government, led by left-wing party Syriza, has started to unpick reforms that were crucial to securing €240 billion ($272 billion) in European and IMF funds keeping the country afloat. Relations between Russia and the EU are the worst they've been since the Cold War due to the Ukraine crisis.

Congratulating Greek Prime Minister Alexis Tsipras on his victory, Russian President Vladimir Putin said he was confident the two countries would "work together effectively to resolve current European and global problems."

Greece seems receptive to closer links. Tsipras reportedly met with the Russian ambassador hours after taking office, and with Russian officials last May.

Related: Europe to Russia: We won't blink over Ukraine

Syriza and its right-wing coalition partner have been supportive of Putin and deeper cooperation is likely, said Dimitris Papadimitriou, professor of politics at the University of Manchester.

The two countries have established trade ties. Almost 13% of Greek imports came from Russia in 2013, according to the IMF. Greece's share of Russian imports is much less significant. Still, the countries have agreed to make 2016 the "Year of Greece" in Russia, and the "Year of Russia" in Greece.

Against this backdrop, Greece could break ranks with its European partners over how to respond to a recent escalation of violence in Ukraine.

Officials are due to discuss the possibility of further sanctions at a meeting Thursday, after EU leaders said they had evidence of growing support by Russia for separatists in eastern Ukraine. The Greek government was angry that it had not been consulted over the EU leaders' statement.

"Greece's disagreement was that Greece had not been asked, and that its consensus was taken for granted," a government spokesperson told CNN.

"Greece has to have an equal say in all EU decisions," the spokesperson said.

The tussle raised concern that Greek foreign minister Nikos Kotzias could veto any attempt to apply more pressure on Moscow when EU officials meet Thursday.

Kotzias is said to have had close links to the Greek communist party during the Cold War. He also has a record of supporting Russia -- including under Putin -- Manchester University's Papadimitriou said.

Related: Syriza won. What's next for Greece

Some experts say Greece's new guard is simply trying to assert its authority. Expressing concern about sanctions is a far cry from jumping into Moscow's arms in the hope of finding a more sympathetic creditor.

"Greece needs fresh money and a reliable backstop," wrote Berenberg's Holger Schmieding in a note. "Flirting with Russia won't help Greece secure better terms from the only realistic lenders it has."

At the same time, Greece has good reasons to want to develop the relationship, and could do so in some areas without causing big problems for Europe.

One area of potential cooperation is energy. Russia scrapped plans to build a gas pipeline through the Black Sea to Europe last year, and is currently pursuing an alternative partnership with Turkey.

"Greece should be a partner in energy planning for Russia," Papadimitriou said.

Thanos Dokos, from the Hellenic Foundation for European and Foreign Policy, said Greece could also develop trade and tourism ties with Russia.

"But if the current climate between EU and Russia continues, their options are limited," Dokos.

--CNN's Elinda Labropoulou contributed to this report.

First Published: January 29, 2015: 9:01 AM ET

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Close Sesame! Alibaba plunges as sales miss

NEW YORK (CNNMoney)

But here's the bad news: Even though the Chinese e-commerce leader reported a 40% jump in sales, that still wasn't as much as what Wall Street was expecting. And investors are not happy.

Shares of Alibaba (BABA, Tech30) plunged 7% in premarket trading.

The stock tanked Wednesday after Yahoo (YHOO, Tech30) announced plans to spin off its remaining stake in Alibaba to its shareholders.

The Chinese government also issued a harsh rebuke of the company, saying that Alibaba was too lax when it comes to policing its sites for counterfeit and pirated goods.

Related: China issues scathing report on Alibaba

The stock is now nearly 25% below the all-time high it hit in late November.

Even though Alibaba's earnings report clearly disappointed Wall Street, Jack Ma's company has made a big splash with investors since its blockbuster initial public offering in September.

Alibaba has proven that online commerce can be a solidly profitable business. American online retailing giant Amazon (AMZN, Tech30) has often reported big losses despite large increases in sales.

Amazon will report its fourth quarter results after the closing bell Thursday.

First Published: January 29, 2015: 7:25 AM ET

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Average 401(k) balance hits record $91,300

NEW YORK (CNNMoney)

At Fidelity, the average 401(k) balance hit $91,300 by the end of 2014. While that's up just 2% from 2013, it's a jump of more than 30% from 2011's average balance of $69,100, Fidelity reported.

The increase was due in part to the stock market, which saw the S&P 500 climb by more than 10%-- its third year of double-digit gains. But a spike in worker contributions also played a significant role.

Workers and their employers contributed an average of $9,670 in 2014, up 4% from the year before.

"The 401(k) is the sole source [of retirement savings] for many," said Fidelity vice president Jeanne Thompson. "I think there is heightened awareness of the importance of putting money into the 401(k)."

On average, employees socked away 8.1% of their salary, the highest savings rate recorded by Fidelity since 2011. Including an employer match, workers saved around 12% of their salary, which falls within the 10% to 15% recommended by financial planners.

Thompson credited the increasing savings rate to a growing number of employers who are automatically enrolling workers into their 401(k) plans at a contribution rate of 5% or more.

Consistent savers are doing especially well. Savers in their 401(k) plan for 10 years or more had an average balance of $248,000 -- an increase of 11% from what similar savers had a year ago.

Related: My biggest retirement mistake

The bad news: most people will need far more than that for a comfortable retirement. The common 4% rule for example, dictates that $250,000 would provide only $10,000 a year in retirement income.

Of course, 401(k) balances are just a snapshot of the retirement savings landscape since savers often have multiple investments and accounts like Individual Retirement Accounts (IRAs) and annuities. Fidelity, for example, found IRA holders had an average balance of $92,200 in 2014.

With the stock market starting out on rocky footing this year, Fidelity urged savers to ignore the market turmoil and instead to focus on long-term savings goals.

"The typical American worker will see markets go up and down many times during their career," Jim MacDonald, president of workplace investing at Fidelity, said in a statement. "Commitment to a long-term savings and investing strategy will put individuals in the best position."

First Published: January 29, 2015: 12:56 AM ET

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Stocks: 5 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. Expecting earnings: Alibaba (BABA, Tech30), Ford (F), Coach (COH) and Time Warner Cable (TWC) will report earnings before the opening bell, as well as oil companies Valero (VLO), Phillips 66 (PSXP) and ConocoPhillips (COP).

Google (GOOGL, Tech30), Amazon (AMZN, Tech30) and Visa (V) will report after the close.

U.S. stock futures are holding steady but Thursday's direction will likely depend on how well those earnings are received.

All the major indexes fell on Wednesday. The Dow Jones industrial average lost 196 points, while the S&P 500 slid 1.4%. The Nasdaq fell by nearly 1%.

Related: Fear & Greed Index

2. Market movers -- Facebook, Qualcomm: Facebook (FB, Tech30) shares were edging down by 1% premarket after the social networking giant reported fourth quarter results.

Qualcomm (QCOM, Tech30) shares were dropping by about 8% premarket after the company cut its sales and earnings outlook. The company blamed the lower outlook on increased competition in China, among other things.

Shares in Royal Dutch Shell (RDSB) fell by about 3.5% in London after the company said it would cut spending on oil projects by $15 billion over the next three years.

This "confirm[s] that many projects are indeed unsustainable and unfeasible [with] the currently low oil prices," said Mike van Dulken, head of research at Accendo Markets.

Shares in Samsung (SSNLF) dipped by just over 1% in Asia after the company reported another set of disappointing results.

Related: CNNMoney's Tech30

3. Investors lovin' McDonald's news: Investors are bidding up shares in McDonald's (MCD) ahead of the open after CEO Don Thompson announced his retirement. This comes a week after McDonald's reported awful financial results.

4. Greece markets steady: The main stock market index in Greece stabilized, trading up by about 2% after plunging Wednesday.

The index has fallen 12% since the start of the year as investors have grown increasingly worried about Greece's financial health following the election of a new government that wants to renegotiate the terms of its international bailout.

European markets were all edging down in early trading. Asian markets mostly closed with losses.

5. Economic announcements: The U.S. government will report weekly jobless claims at 8:30 a.m. ET.

At 10 a.m., new U.S. data on pending home sales will be released from December.

First Published: January 29, 2015: 5:01 AM ET

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Gas prices finally stop falling

NEW YORK (CNNMoney)

The average price of a gallon of regular gas edged up a fraction of a penny to take the national average to $2.04 from $2.03 on Tuesday, according to AAA. It marked the first increase in 123 days, the longest such streak on record. Wednesday, the average price stayed unchanged.

Before this week, the last time the average price increased was November 25, when the national average stood at $3.35 a gallon.

This week's slight uptick followed increases in wholesale gas prices and crude oil prices on commodity markets earlier this week. The death of Saudi King Abdullah bin Abdulaziz al Saud last week prompted some uncertainty in markets on whether the Saudi Arabia will continue to maintain oil production.

Related: What's gas cost in your state?

While the transfer of power to his half-brother is expected to be smooth, the Saudi decision to maintain production in the face of falling prices is one of the major factors behind the slide in crude oil prices over the last year. In the past, the Saudis have frequently trimmed output in order to maintain prices.

Related: Oil boomtown - 'We could see 20,000 layoffs by June'

Other factors in the price slide are increased oil production in the United States, which last year passed Saudi Arabia as the world's largest oil producer; decreased demand from slowing economies in Europe and Asia; and more fuel efficient vehicles.

While the national average never made it below $2 in the recent slide, gas for less than that is now widespread across the country. Most gas stations have been selling regular for less than that price for more than a week, and there are 27 states with a statewide average below $2. But a few high priced states, such as New York, California and Hawaii, have kept the national average above the $2 mark.

First Published: January 28, 2015: 7:33 AM ET

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Qatar buys London's banking district

Canary Wharf has grown to become a massive banking hub in London.

LONDON (CNNMoney)

Qatar Investment Authority and U.S. investor Brookfield Property Partners (BPY) are buying Songbird Estates, which owns Canary Wharf, for 2.6 billion pounds ($4 billion).

The Canary Wharf estate was developed on nearly 100 acres of derelict land in east London's former docks. Over the past 25 years it has grown to rival London's traditional financial heart by attracting banks such as Citigroup (C), JP Morgan (JPM), Credit Suisse (CS), HSBC (HSBC) and Barclays (BCS).

It has four million square feet of office space, three shopping malls and a number of parks, supporting a working population of more than 100,000.

Related: China and Qatar buying London properties

Qatar and Brookfield already own significant stakes in Songbird Estates. Their first bid for the company -- worth about $3.5 billion -- was rejected by Songbird's board.

But Songbird was forced to reverse its position after other leading shareholders, such as the China Investment Corporation and Morgan Stanley (MS), said they intended to accept the sweetened offer.

Qatar already owns several London landmarks, including the Shard, which is western Europe's tallest building. It also owns luxury department store Harrods, and the Olympic Village.

Gallery: Who owns London's landmarks?

First Published: January 28, 2015: 9:02 AM ET

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Bad dog! GoDaddy pulls puppy ad from Super Bowl

GoDaddy has yanked its Super Bowl ad starring Buddy, a lost puppy that gets sold online.

NEW YORK (CNNMoney)

GoDaddy has a long history of submitting ads to the Super Bowl and having them either withdrawn or rejected for offensive material. Usually their rejected ads involve raunchy humor and scantily clad women. But this time it involves GoDaddy's recently adopted mascot, a puppy named Buddy.

In the spot, Buddy gets tossed from the back of a pickup truck and runs the long distance home through nasty weather, only to be told by his owner that he's been sold online via GoDaddy. (In reality, the company is a domain name registrar, so it sells products like website addresses and server space.)

GoDaddy CEO Blake Irving said in a blog post that the ad ran on TV Tuesday morning, and "shortly after a controversy started to swirl about Buddy, our puppy, being sold online. The responses were emotional and direct. Many people urged us not to run the ad."

GoDaddy was planning to air the ad during the Super Bowl, where air time costs $4.5 million for a 30-second spot. But Irving said that he changed his mind.

"We are pulling the ad from the Super Bowl," he said. "You'll still see us in the Big Game this year, and we hope it makes you laugh."

Related: Sneak preview of Super Bowl ads

Irving tweeted his thanks to @animalrescuers, an SPCA group, for their "candid feedback."

A petition on Change.org garnered 40,000 signatures to kill the commercial.

"As someone who feels incredibly strong about animal rights, I am extremely offended by this commercial," wrote the petitioner, Helena Yurcho.

She said that GoDaddy's commercial was "encouraging purchasing an animal online; the animal could be sold to someone who runs a fighting ring, someone who abuses animals, or to someone who cannot adequately care for the animal."

Buddy has his own Twitter account, but he has not addressed the issue.

First Published: January 28, 2015: 9:10 AM ET

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China issues scathing report on Alibaba

Alibaba co-founder Jack Ma has called counterfeits a "cancer."

HONG KONG (CNNMoney)

The Chinese government has released a report that accuses e-commerce giant Alibaba of turning a blind eye to illegal activity, and failing to police its online marketplaces. The company has been "far too lax" in its business operations, allowing some merchants to sell counterfeit goods, from designer bags to smartphones, according to the State Administration of Industry and Commerce.

Regulators said the scathing report, which stems from a July 2014 meeting between the company and government officials, wasn't released earlier to avoid interfering with Alibaba's landmark IPO in September.

Counterfeits have long been a problem for Alibaba, which operates popular online shopping sites such as Taobao and Tmall. Co-founder Jack Ma has even called fakes a "cancer" to the company.

Related: Alibaba has a major counterfeit problem

"Taobao has done a tremendous amount of work towards fighting counterfeits, but it is far from complete," said company spokesman Bob Christie. "We need more law enforcement agencies to join us in the fight and eradicate the cancer at the roots."

Alibaba (BABA, Tech30) took issue with the government review, saying the process was marred by misconduct and has "inflicted irreparable and serious damage to Taobao and Chinese online businesses." The company will file a complaint to the SAIC.

Fake goods were a concern for investors as Alibaba's market debut drew closer last year. Leading up to its IPO, the company signed a handful of anti-piracy agreements with luxury brands and industry groups. The company also launched a policy for some of its platforms that bans sellers after "three strikes."

Related: Chinese courts are selling seized assets on Alibaba's Taobao

In 2013, Alibaba removed 114 million product listings from Taobao over a period of 10 months. But major consumer brands, such as Columbia Sportswear, have said that they feel fighting fakes is a losing battle.

Alibaba shares closed on Tuesday at $102.94 in New York, up 51% from the IPO price.

Read next: Yahoo soars on Alibaba spinoff

First Published: January 28, 2015: 5:08 AM ET

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Stocks: 5 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. Big tech gets a boost: Shares in Apple (AAPL, Tech30) are expected to jump at the open after the company posted the biggest profit in corporate history in the last quarter, when it sold 74.5 million iPhones.

Apple's earnings are helping ARM Holdings (ARMH, Tech30) in London, a company that sells chip designs to Apple and other smartphone makers. Shares in ARM were rising by 2% in London.

Yahoo (YHOO, Tech30) shares are also expected to soar at the open after the company said it would spin off its remaining stake in Chinese e-retailer Alibaba (BABA, Tech30). The deal is expected to save shareholders $16 billion in tax, according to Yahoo CEO Marissa Mayer.

Related: CNNMoney's Tech30

2. Greek stocks and bonds plunge: Greek markets plunged again, with banks suffering the most, after the country's new anti-austerity government was reported to have canceled a planned privatization -- one condition of its international bailout. The benchmark Athens index has now fallen nearly 10% already this year.

The yield on Greece 10-year government bonds jumped 60 basis points to more than 10%.

European markets were mostly weaker, while Asian markets ended mixed.

3. Tech results lift Nasdaq: The tech-heavy Nasdaq index is rising by about 1% premarket as it gets a lift from Apple and Yahoo.

Futures for the Dow Jones industrial average are relatively flat. The S&P 500 is bumping around.

Tuesday was a down day in the markets.

The Dow Jones industrial average plunged by 291 points, while the S&P 500 lost 1.3% and the Nasdaq shed 1.9%.

Investors were in a selling mood after Microsoft (MSFT, Tech30), Caterpillar (CAT) and Procter & Gamble (PG) all disappointed heavily with their quarterly results.

4. More earnings: Quarterly results are coming in thick and fast.

Boeing (BA), Hess (HES) and Fiat Chrysler (FCAM) are among the main companies reporting earnings before the opening bell.

Facebook (FB, Tech30) will report after the close.

Related: Fear & Greed Index

5. Focus on the Fed: At 2 p.m. ET, investors around the world will be focusing on the latest announcements from the U.S. Federal Reserve. The Fed is concluding its two-day meeting Wednesday and investors will be parsing through the Fed's new statement to guess when the central bank may be ready to raise interest rates.

First Published: January 28, 2015: 5:05 AM ET

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Why neon is taking over the world

NEW YORK (CNNMoney)

Fluorescent colors that look like they came straight out of a highlighter are taking over the sports world in a big way. They will be featured in this week's Super Bowl.

They're all over the Australian Open. They were a big part of last weekend's Pro Bowl and NHL All-Star games. They were in this year's college football playoffs, and they will make several March Madness appearances.

The neon spectacle across multiple sports isn't a coincidence. Fluorescent colors are currently trending with young people -- the target demographic of sports equipment makers.

"Uniform designers have come to the realization that kids prefer fluorescent colors," said DayGlo Business Manager Brian Skelly. "We've definitely seen a spike in sales in the last couple years."

DayGlo, which manufactures fluorescent pigments, recently conducted a study, which found that children prefer neon colors four-to-one over conventional colors. The company also found that customers stop to look at brightly colored clothing twice as long as they spend looking at non-fluorescent items.

"It's a cliche, but kids do like shiny objects," said Paul Lukas, who reports on sports uniforms for his Uni-Watch blog and ESPN. "The neon and fluorescent colors you see on sports uniforms play into that. When teams change their uniforms, the first question is, 'How will this sell?'""

Sports uniform makers have gotten the message. Nike (NKE) redesigned the Super-Bowl-bound Seattle Seahawks' uniforms in 2012 to include neon green highlights and trim. Nike also designed the highlighter-like Australian Open outfits, Pro Bowl uniforms and Oregon Ducks jerseys.

Reebok's 2015 NHL All-Star uniforms featured fluorescent green stripes -- a standout for a typically conservative league. Unsurprisingly, Reebok said it had young fans in mind when designing the uniforms.

"To showcase the heroes of the game, we thought we could have a design more targeted towards a younger demographic," said Dom Fillion, Reebok's lead designer. "We think it will get them excited about the game."

Since none of the NHL teams feature neon colors on their uniforms, Reebok is turning to team-licensed apparel such as t-shirts and hats to feature the popular color.

"Demand for these colors has definitely gone up," said Keith Leach, Reebok's director of NHL merchandising.

Hot, bright colors have been around for a few decades. They were big in the 1980s, but they didn't have quite the same vibrancy that they do today. Ultra-bright colors have become far more prevalent in recent years, because fabric and dye technology has vastly improved.

Today's fluorescent colors pop more, they don't rub off on your skin and they stay bright after washing them, DayGlo's Skelly noted.

Related: NHL partners with GoPro

"It's definitely having an impact on what people are buying," said Leatrice Eiseman, executive director of the Pantone Color Institute. "It's a huge attention-getter; the human eye cannot avoid looking at a color with that much intensity and sparkle."

But Pantone's Eiseman isn't so sure about its lasting impact.

"I think that just like most trends, they have their moments," she said. "It's just a given in the fashion world that a trend can only last so long. The consumer will eventually look at fluorescent colors as ho-hum."

But Lukas expects the neon craze to stick around for a long time, as sports apparel makers Nike, Adidas (ADDDF) and Under Armour (UA) try to outshine one another -- literally.

DayGlo also believes fluorescents will be here for the long haul, calling the current trend "more than just a moment."

So your eyes may get a rest in a few years. But don't count on it.

Related: Sports Illustrated lays off photographers

Related: Belichick talks #DeflateGate in front of Gillette #Flexball ad

First Published: January 28, 2015: 6:39 AM ET

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Natural gas prices bounce as blizzard blows

LONDON (CNNMoney)

Natural gas futures are up 3.5% to roughly $3 per million British thermal units on the New York Mercantile Exchange.

Traders appear to be expecting a surge in heating demand because of the blizzard.

Roughly half of American households use natural gas for heating and cooking.

The bounce comes as prices have taken a sharp fall over the last few weeks. Natural gas prices have plunged by about 35% since late November as unusually warm temperatures in the eastern United States have crimped overall demand.

Raymond James energy analyst Pavel Molchanov said natural gas prices have "always been notoriously weather-sensitive."

"Right now, in the midst of an epic blizzard (and this pickup in gas demand for heating), a modest rebound is to be expected, though prices are still much lower than a year ago," he said.

Prices have also been pushed down amid a glut of supply from fracking operations in the United States and Canada.

Related: Blizzard costs fliers big bucks

First Published: January 27, 2015: 7:43 AM ET

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Europe is on sale for American travelers

Many parts of Europe are on sale now that the euro is at an 11-year low against the U.S. dollar.

NEW YORK (CNNMoney)

Christopher Vecchio spends his days analyzing the moves of the U.S. dollar, British pound, Swiss franc and other global currencies. At the moment, he's extremely excited about booking a trip to France because the euro is so weak.

"I'm looking forward to spending my dollars over in Europe. Literally, they haven't been stronger in 11 years," said Vecchio, an analyst at DailyFX.

He and his fiancee want to spend their August honeymoon in Europe. They have a short list of countries they are debating. Vecchio crossed Switzerland off after the Swiss franc spiked 30% earlier this month. But any country that uses the euro looks like a great deal.

Related: Sleep Switzerland jolts currency markets

The exchange rate dipped as low as $1.10 to €1 over the weekend. That's the best rate for Americans since 2003, and some experts predict the dollar and euro could equal each other soon.

It's a heck of a departure from late 2008, when the exchange rate was $1.50 to €1.

"Head for the Alps, either France or Austria to ski this winter," jokes Sebastien Galy, senior currency strategist at Societe Generale. "It's going to be significantly cheaper than the U.S. slopes."

To put it another way, a Big Mac currently costs $4.79 on average in the United States. In Europe, a Big Mac goes for about $4.26, according to the latest calculation from The Economist.

What's making Europe cheap? Europe's economy is going through a bumpy patch. While the U.S. economy continues to rebound, Europe's is teetering on another recession. The prices of goods in many parts of Europe are actually falling, a phenomenon called deflation, which one hedge fund manager recently compared to Darth Vader.

Related: Deflation 'Death Star' shows up in Europe

As Europe struggles economically, so does its currency. The euro took another hit over the weekend when Greece voted Syriza into power, a political party that campaigned to roll back austerity measures. It could possibly mean Greece will leave the euro, a move that would send further unrest in the European markets.

"I haven't booked [my trip] yet. I still think the euro is going to fall," Vecchio says.

Greek and European leaders are currently in talks to figure out next steps, especially over what to do about Greece's substantial government debt.

Flight problem: While Europe will feel cheaper when you get there, airlines haven't cut their prices much despite the dramatic fall in fuel costs.

Delta (DAL) expects to save $2 billion this year on fuel costs, but those savings aren't being passed on to the consumer.

Galy also notes that while the euro is much more of a bargain than it was before for American travelers, many places in France and Germany are still pricey relatively speaking. The best deals are likely to be found in Spain and Greece where the economies are even more depressed.

Related: Why airfares are sky-high when jet fuel is dirt cheap

European wine looks good: Even if you aren't planning a trip to Europe, you could still benefit from less expensive European goods.

"Anybody who has European roots will be happy importing Italian shoes and French wine," Galy says.

The average consumer might also notice a drop in the price of cars and car parts, especially on European brands like Mercedes-Benz.

Related: Hershey lawsuit angers fans of British chocolate in U.S.

First Published: January 27, 2015: 6:24 AM ET

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Winklevoss twins: Bitcoin will explode beyond $1 trillion

The Winklevoss twins at ETF.com's Inside ETFs Conference.

Hollywood Beach, Florida (CNNMoney)

The brothers, known for their legal battle with Facebook (FB, Tech30) founder Mark Zuckerberg, believe the controversial cryptocurrency is the payments network of the future. That's despite Bitcoin's 60% plunge in 2014.

They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it.

"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

Related: Gold is sexy again as it jumps above $1,300

Reaching over $1 trillion in market cap is hard to fathom, especially because Bitcoin's current market cap is less than $4 billion.

Many skeptics remain convinced Bitcoin was a bubble that will soon die out. Jeffrey Gundlach, the new so-called "bond king," recently said Bitcoin is "on its way to being relegated to the ash heap of digital currencies."

Related: Will Bitcoin ever rebound?

Buying opportunity? Don't tell that to the Winklevii, as they are sometimes called. The twins are huge backers of Bitcoin and stand to profit handsomely if their vision comes true.

They're not worried by the currency's recent glitches or its price decline. One Bitcoin is currently worth about $265 -- a big drop-off from its peak of more than $1,200 back in late 2013.

"It's a buying opportunity. We've never sold a Bitcoin. We're in it for the long haul," Camerson Winklevoss said during a presentation at ETF.com's Inside ETFs Conference.

Related: Spent bitcoins? Expect a tax headache

But the WInklevoss twins realize Bitcoin needs help. The 2014 bankruptcy of Mt. Gox, a Tokyo-based Bitcoin exchange, has raised questions about the currency's security. Price declines and volatility also spook some potential investors.

"People get fixated on the cost," Cameron Winklevoss said. "It's going to have lots gyrations. But it's new and you have to bare with it."

Improving the system: To help Bitcoin get through its growing pains, the twins are building infrastructure aimed at legitimizing and securing the currency. Last week they unveiled Gemini, a Bitcoin exchange for U.S. consumers. They hope it will become the "Nasdaq of Bitcoin."

They may have been beaten to the punch by Coinbase, a U.S.-based Bitcoin exchange that opened on Monday with backing from the likes of the New York Stock Exchange.

Second, the Winklevoss twins are awaiting regulatory approval for the first exchange-traded fund holding Bitcoins. Just like GLD (GLD), the popular gold ETF, the fund would trade securities based off of Bitcoin.

The twins believe such an ETF would appeal to gold bugs because Bitcoin, just like gold, can be used as a hedge against inflation. They say Bitcoin is more durable, divisible and affordable than the yellow metal.

"If you like gold, there are many reasons you should like Bitcoin," said Cameron Winklevoss.

Of course, gold has been around as an asset class for thousands of years. By comparison, Bitcoin is still just a baby.

First Published: January 27, 2015: 6:17 AM ET

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Can Apple live up to the iHype?

NEW YORK (CNNMoney)

The popular tech company reports its results after the closing bell Tuesday. But will they be strong enough to satisfy fickle Wall Street traders?

Analysts are forecasting that Apple (AAPL, Tech30)'s earnings per share surged 25% and that sales rose 17%. The main reason? This was the first full quarter that the iPhone 6 and iPhone 6 Plus were on the market.

Apple's earnings are expected to be so iNormous that they are helping to distort the estimated growth rate for the tech sector and entire market.

If you exclude Apple, FactSet Research says that tech earnings will be flat. With Apple, the growth rate jumps to 4%.

For the overall S&P 500, analysts predict that earnings without Apple and biotech Gilead Sciences (GILD) would be down nearly 2%. With those two companies, earnings should rise slightly. Gilead, a maker of hepatitis C drugs, is expected to report a 300% jump in earnings per share.

Related: Smarter people use iPhones

Repeat success? Still, Wall Street wants Apple to do more than beat expectations, it wants the tech giant to crush them.

Apple has beaten consensus earnings estimates for the past eight quarters ... and by an average of 5%.

Apple's stock has pulled back a bit in the past few weeks. It's down 5% since hitting an all-time high in late November ... and exceeding $700 billion in market value for the first time in the process.

But could Apple hit a new record after reporting earnings? Hedge fund titan Carl Icahn has predicted the stock could go as high as $200 a share.

Canaccord Genuity analyst T. Michael Walkley has a $135 price target on Apple. That's 20% higher than current levels. (The average price target for the stock is $122.77 according to FactSet.)

He said in a recent report that his surveys of the top four wireless carriers in the U.S. -- Verizon (VZ, Tech30), AT&T (T, Tech30), Sprint (S) and T-Mobile (TMUS) -- show that the iPhone 6 and 6 Plus were "by far" the most popular smartphone models in the fourth quarter. He added that this has continued into January.

Walkley argues that demand should remain strong for the higher-memory models of the latest iPhones in the coming months as well. That's because the 64GB and 128GB versions were in limited supply following the phone's launch last September.

Related: Tim Cook was CEO of the year in 2014

What's next for Apple? Apple will also need to show Wall Street that there is life beyond the iPhone. Apple's smartphones accounted for 56% of its total revenue in its fiscal fourth quarter.

Sales of iPads are slowing and there are concerns that this product has peaked, especially since the iPhone 6 Plus has a screen size that's not too much smaller than an iPad mini tablet.

Mac sales are heating up, but they only make up about 16% of Apple's overall revenue.

That's why Apple CEO Tim Cook will have to prove to investors that newer products such as the upcoming Apple Watch and its new Apple Pay service can also become big revenue generators.

Cook will also probably be asked about what Apple plans to do to boost sales in China. Revenues in China rose only 1% in its fiscal fourth quarter and the company faces a tough challenge from upstart smartphone company Xiaomi.

But Apple is clearly in a good spot right now. Samsung (SSNLF) and other smartphone makers that use Google's (GOOGL, Tech30) Android have been unable to stop the iPhone juggernaut in the U.S.

Related: Xiaomi wants its new phone to be an iPhone killer

The company had $155.2 billion in cash on its balance sheet at the end of December. It invested more than $6 billion on research and development last year.

And Apple remains an attractive stock for both value and growth investors.

Shares trade at 14.5 times earnings estimates for this fiscal year -- a discount to Google and Microsoft (MSFT, Tech30). The company pays a dividend that yields 1.7%. That's only slightly lower than a 10-Year U.S. Treasury.

And earnings are expected to increase more than 20% this year and at a 13% clip for the next few years.

So if Apple winds up blowing away forecasts and also issues good guidance for this fiscal year, some investors may once again start wondering how long it might take before Apple is worth $1 trillion.

First Published: January 27, 2015: 5:29 AM ET

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Winklevoss twins: Bitcoin will explode beyond $1 trillion

The Winklevoss twins at ETF.com's Inside ETFs Conference.

Hollywood Beach, Florida (CNNMoney)

The brothers, known for their legal battle with Facebook (FB, Tech30) founder Mark Zuckerberg, believe the controversial cryptocurrency is the payments network of the future. That's despite Bitcoin's 60% plunge in 2014.

They predict Bitcoin's market capitalization could easily skyrocket to at least $400 billion, or roughly the combined size of modern day payments companies like American Express (AXP), Visa (V), MasterCard (MA) and Western Union (WU).

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it.

"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

Related: Gold is sexy again as it jumps above $1,300

Reaching over $1 trillion in market cap is hard to fathom, especially because Bitcoin's current market cap is less than $4 billion.

Many skeptics remain convinced Bitcoin was a bubble that will soon die out. Jeffrey Gundlach, the new so-called "bond king," recently said Bitcoin is "on its way to being relegated to the ash heap of digital currencies."

Related: Will Bitcoin ever rebound?

Buying opportunity? Don't tell that to the Winklevii, as they are sometimes called. The twins are huge backers of Bitcoin and stand to profit handsomely if their vision comes true.

They're not worried by the currency's recent glitches or its price decline. One Bitcoin is currently worth about $265 -- a big drop-off from its peak of more than $1,200 back in late 2013.

"It's a buying opportunity. We've never sold a Bitcoin. We're in it for the long haul," Camerson Winklevoss said during a presentation at ETF.com's Inside ETFs Conference.

Related: Spent bitcoins? Expect a tax headache

But the WInklevoss twins realize Bitcoin needs help. The 2014 bankruptcy of Mt. Gox, a Tokyo-based Bitcoin exchange, has raised questions about the currency's security. Price declines and volatility also spook some potential investors.

"People get fixated on the cost," Cameron Winklevoss said. "It's going to have lots gyrations. But it's new and you have to bare with it."

Improving the system: To help Bitcoin get through its growing pains, the twins are building infrastructure aimed at legitimizing and securing the currency. Last week they unveiled Gemini, the one of the first Bitcoin exchanges for U.S. consumers. They hope it will become the "Nasdaq of Bitcoin."

They may have been beaten to the punch by Coinbase, a U.S.-based Bitcoin exchange that opened on Monday with backing from the likes of the New York Stock Exchange.

Second, the Winklevoss twins are awaiting regulatory approval for the first exchange-traded fund holding Bitcoins. Just like GLD (GLD), the popular gold ETF, the fund would trade securities based off of Bitcoin.

The twins believe such an ETF would appeal to gold bugs because Bitcoin, just like gold, can be used as a hedge against inflation. They say Bitcoin is more durable, divisible and affordable than the yellow metal.

"If you like gold, there are many reasons you should like Bitcoin," said Cameron Winklevoss.

Of course, gold has been around as an asset class for thousands of years. By comparison, Bitcoin is still just a baby.

First Published: January 27, 2015: 6:17 AM ET

19.33 | 0 komentar | Read More

Europe is on sale for American travelers

Many parts of Europe are on sale now that the euro is at an 11-year low against the U.S. dollar.

NEW YORK (CNNMoney)

Christopher Vecchio spends his days analyzing the moves of the U.S. dollar, British pound, Swiss franc and other global currencies. At the moment, he's extremely excited about booking a trip to France because the euro is so weak.

"I'm looking forward to spending my dollars over in Europe. Literally, they haven't been stronger in 11 years," said Vecchio, an analyst at DailyFX.

He and his fiancee want to spend their August honeymoon in Europe. They have a short list of countries they are debating. Vecchio crossed Switzerland off after the Swiss franc spiked 30% earlier this month. But any country that uses the euro looks like a great deal.

Related: Sleep Switzerland jolts currency markets

The exchange rate dipped as low as $1.10 to €1 over the weekend. That's the best rate for Americans since 2003, and some experts predict the dollar and euro could equal each other soon.

It's a heck of a departure from late 2008, when the exchange rate was $1.50 to €1.

"Head for the Alps, either France or Austria to ski this winter," jokes Sebastien Galy, senior currency strategist at Societe Generale. "It's going to be significantly cheaper than the U.S. slopes."

To put it another way, a Big Mac currently costs $4.79 on average in the United States. In Europe, a Big Mac goes for about $4.26, according to the latest calculation from The Economist.

What's making Europe cheap? Europe's economy is going through a bumpy patch. While the U.S. economy continues to rebound, Europe's is teetering on another recession. The prices of goods in many parts of Europe are actually falling, a phenomenon called deflation, which one hedge fund manager recently compared to Darth Vader.

Related: Deflation 'Death Star' shows up in Europe

As Europe struggles economically, so does its currency. The euro took another hit over the weekend when Greece voted Syriza into power, a political party that campaigned to roll back austerity measures. It could possibly mean Greece will leave the euro, a move that would send further unrest in the European markets.

"I haven't booked [my trip] yet. I still think the euro is going to fall," Vecchio says.

Greek and European leaders are currently in talks to figure out next steps, especially over what to do about Greece's substantial government debt.

Flight problem: While Europe will feel cheaper when you get there, airlines haven't cut their prices much despite the dramatic fall in fuel costs.

Delta (DAL) expects to save $2 billion this year on fuel costs, but those savings aren't being passed on to the consumer.

Galy also notes that while the euro is much more of a bargain than it was before for American travelers, many places in France and Germany are still pricey relatively speaking. The best deals are likely to be found in Spain and Greece where the economies are even more depressed.

Related: Why airfares are sky-high when jet fuel is dirt cheap

European wine looks good: Even if you aren't planning a trip to Europe, you could still benefit from less expensive European goods.

"Anybody who has European roots will be happy importing Italian shoes and French wine," Galy says.

The average consumer might also notice a drop in the price of cars and car parts, especially on European brands like Mercedes-Benz.

Related: Hershey lawsuit angers fans of British chocolate in U.S.

First Published: January 27, 2015: 6:24 AM ET

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No, you can't fly drones over the White House

NEW YORK (CNNMoney)

Before dawn Monday morning, the U.S. Secret Service said a drone apparently found its way onto the White House property. Agents merely described it as a "device" and said they'd pick it up at daybreak.

The Federal Aviation Administration has laid out some harsh rules regarding "unmanned aerial vehicles." That includes everything from your model airplane to scary-looking, shoulder-launched, militaristic drones.

If you're flying one for fun, the FAA lets you do it below 400 feet, away from airports, air traffic, military bases and other restricted locations like the White House. You also must always fly drones within sight. That means if you can't see the drone with your own eyes, you're doing it wrong.

The FAA has strictly prohibited using a drone for business (wedding photography, filming a movie, etc.). The agency is still developing rules for commercial drone use, so it's only approving the occasional "cooperative research and development agreement," essentially a carefully-watched experiment. CNN got one.

Going forward, the FAA seems like its leaning toward rules requiring a pilot's license for commercial use -- and only within sight.

As for the White House area, the problem isn't just that there are busy streets and it's an urban area. After the Sept. 11, 2001 attacks, the FAA declared the airspace over Washington, D.C. a flight restricted zone. The agency cited a 1994 incident in which someone deliberately flew their Cessna 150 into the White House while on "a suicidal plot."

These restrictions do have some merit. A relatively small drone can carry a few pounds at a time. And if it's loaded up with just one pound of, say, C-4 explosive, it could cause a significant amount of damage.

It's not just aircraft that are barred from the White House area. No ground vehicles are allowed on Pennsylvania Avenue, the street directly in front of the White House. And trucks are prohibited on the street just west of the mansion's property.

So, no flying drones around the White House, okay?

Related: CNN cleared to test drones for reporting

Related: Drone startups swoop up millions

Related: Drone pilot wanted: Starting salary $100,000

First Published: January 26, 2015: 8:16 AM ET

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U.S.-based Bitcoin exchange set to open

NEW YORK (CNNMoney)

Coinbase has raised $106 million to fund its operation, with investors including the New York Stock Exchange, bank BBVA, venture capital firms Andreesen Howrowitz, DFJ Growth and USV, as well as financial services firm USAA.

Investors in the virtual currency Bitcoin have been forced to trade on overseas exchanges. The financial stability and security of those exchanges has been in question, especially after a series of issues.

One of the largest, Mt. Gox, was forced to file for bankruptcy nearly a year ago after hundreds of millions of dollars of Bitcoins disappeared from the exchange in what Mt. Gox claimed was a hack attack. Earlier this month, Europe's biggest Bitcoin exchange, Bitstamp, suspended services after about 19,000 bitcoins, worth about $5.2 million, disappeared from accounts after a hack attack.

Coinbase says it has several layers of security in place.

"We take careful measures to ensure that your bitcoin is as safe as possible," it tells customers. Measures include two-step verification for logging in, encryption technology, storing bitcoin records offline and conducting background checks on employees.

Related: Will Bitcoin ever rebound?

San Francisco-based Coinbase, which opened in June of 2012, has until now solely been a platform where merchants and their customers can conduct transactions using bitcoins.

It says it already has 1.9 million users and 38,000 merchants using the firm to exchange bitcoins, along with 7,000 developer apps.

The exchange is due to open at 9 a.m. ET Monday, according to the site.

First Published: January 26, 2015: 7:53 AM ET

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Europe plays it tough with new Greek leaders

LONDON (CNNMoney)

Alexis Tsipras will be sworn in as prime minister on Monday after securing a landslide victory in Sunday's election. He leads a coalition of parties that wants to roll back austerity measures, and negotiate new terms for Greece's massive debts, putting the country on a collision course with its international lenders.

Leading EU politicians and central bankers were quick to restate their opposition to a major renegotiation of Greece's bailouts, saying it had to play by the rules if it wanted to keep the euro as its currency.

The European Union and International Monetary Fund have together lent Greece some 240 billion euros in rescue loans since 2010.

Related: Greece's anti-austerity vote worries markets

In Germany, Europe's biggest economy, the Greek election results are seen as a nightmare. German taxpayers fear they'll be forced to bear the brunt of the losses if Greek debt is forgiven.

Germany wanted to work with the new Greek government, a spokesman for Chancellor Angela Merkel said Monday.

"We believe it is important, that the new government put measures in place that will continue Greece's economic recovery. That also means that Greece must abide the rules it has agreed to, and that the new government must build on the successes achieved so far," the spokesman added.

Benoit Coeure, a member of the European Central Bank's executive board, said the bank could not accept a Greek debt haircut.

"It's absolutely clear that we cannot agree to debt relief that includes Greek bonds that are held at the ECB," Coeure told German business newspaper Handelsblatt.

IMF chief Christine Lagarde also stood firm, saying Greece cannot demand special treatment, according to French newspaper Le Monde.

Officials from across the eurozone will discuss their response to the Greek election Monday at a meeting in Brussels. Jeroen Dijsselbloem, Dutch finance minister and chairman of the eurozone group of finance ministers, said Greece must play by the rules.

Related: Greece 'leaves behind the austerity that ruined it'

First Published: January 26, 2015: 8:24 AM ET

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Stocks: 4 things to know before the open

U.S. stocks closed mixed Friday.

LONDON (CNNMoney)

Here are the 4 things you need to know before the opening bell rings in New York:

1. Greece votes: The left-wing Syriza party swept to victory in elections on Sunday, fueled by populist anger over years of severe austerity measures in Greece. Syriza has vowed to renegotiate the terms of the country's massive bailouts with the EU and IMF, who have lent Greece €240 billion ($277.8 billion) since 2010.

CMC Markets analyst Michael Hewson said the next few weeks are "likely to be crucial ones where one misstep could well cause Greece to leave the euro."

Greek stocks were down more than 3% in early trading, and big Greek banks were trading as much as 11% lower. The election result put renewed pressure on the euro, before it steadied around $1.12.

2. Futures fall: U.S. stock futures were poised for a soft start to the week. Dow and S&P 500 futures were down by 0.4%. Most major U.S. markets posted losses on Friday, with the Dow Jones industrial average slipping 0.8% and the S&P 500 down by 0.6% -- though the Nasdaq edged up 0.2%.

Related: Fear & Greed Index

3. Economics & earnings: The S&P/Case-Shiller home price index is released at 9 a.m. ET, and the Conference Board posts its monthly consumer confidence index at 10 a.m. ET. Microsoft (MSFT, Tech30) will report earnings after the closing bell.

Related: CNNMoney's Tech30

4. International markets overview: European markets were mixed in early trading, with France's CAC down 0.1%. Germany's DAX added 0.2% after a survey showed improved business conditions in the largest European economy. Asian markets also diverged, with Shanghai's Composite up 0.9% while Japan's Nikkei index closed down 0.3%.

First Published: January 26, 2015: 4:58 AM ET

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Greece's new anti-austerity government worries markets

HONG KONG (CNNMoney)

The euro hovered around $1.12 against the dollar, after earlier falling near the 11-year low reached last week after the European Central Bank announced a massive stimulus program. Greek stocks dropped more than 3% in early trading, while the country's banks were harder hit. Yields on Greek 10-year government bonds rose to 8.7%.

Syriza's victory was fueled by populist anger over severe austerity measures that critics felt prioritized payments to creditors over an economic rebound in Greece.

Greece accepted its first bailout in 2010. Since then it has received €240 billion ($277.8 billion) in emergency loans from the European Union and International Monetary Fund to rescue its battered economy. In return, the country agreed to deep cuts in government salaries, tax hikes, a freeze on state pensions and bans on early retirement.

Five years on, the broad economic picture is improving. But life for many Greeks is much worse. Unemployment has soared and wages have fallen even as people are working longer -- all of which fueled demand for change.

Alexis Tsipras, the Syriza leader who will be the next prime minister, has pledged to roll back austerity measures. He will govern in coalition with the Independent Greeks, a small party that also opposes the tough bailout terms.

Analysts say his choice of coalition partner raises the likelihood of a major clash with Greece's international lenders, and the risk of an eventual exit from the eurozone -- the Grexit scenario.

Related: Greece elections: Have 5 years of austerity paid off?

On the campaign trail, Tsipras said he would cut taxes and force Germany and other creditors back to the bargaining table to renegotiate the terms of the bailout package. He said restructuring the debt would allow the Greek government to increase spending and boost the economy.

European leaders oppose this plan, and still maintain tremendous leverage over Greece. Athens needs an infusion of cash to make an upcoming bond payment, and the country's banks need access to cheap financing from Europe's central bank.

"The vote is a mandate for renegotiation on debt and a plea for an end to austerity," wrote Kit Juckes, at Societe Generale. "With Mr Tsipras sounding so belligerent, markets will ponder what a 'Grexit' would do for European assets (unambiguously bad for the euro) and what concessions on Greek debt would do to other highly indebted economies."

Slideshow: Greek elections: Faces of austerity

Meanwhile, Greece's debt continues to grow. Net debt was around 130% of GDP in 2010 according to the IMF -- now it's close to 170%. The economy has shrunk, so the debt ratio has increased, meaning it's only getting harder for Greece to rid itself of debt -- it may be nearly impossible.

Read next: 2015: The global economy's 'sink or swim' moment

-- Mark Thompson and Virginia Harrison in London contributed to this article.

First Published: January 25, 2015: 11:37 PM ET

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To avoid Sony's fate, companies play war games

Here's a peek at PWC's custom-built corporate hacking simulator.

NEW YORK (CNNMoney)

The suits at the PricewaterhouseCoopers consulting firm have figured out how to convince their corporate clients to take cybersecurity seriously: They built a hacking simulator. It has the strategic rigor of chess and the feel of a turn-based card game like "Magic: The Gathering."

On Wednesday, news reporters got a sneak peak at "Game of Threats," the unique computer game PwC presents to all types of executives at banks, retailers and others. It's simple, intuitive and downright fun.

Normally, PwC ushers its client's executives into a room and splits them into two groups. Half play as hackers on the offensive. The other half is the unsuspecting Acme Corporation.

Each side gets playing cards with special abilities. For example, hackers can send scam emails laced with malware. But the company can train employees to avoid clicking on fishy emails. Hackers might use malware to lock employees out of their computers. But the company can restart its entire computer network.

The challenge is that money is limited and you can only make one decision per turn. Do you build up your team of experts? Invest in better tools? Or respond to the present circumstances? The wrong move might let hackers steal your company's valuable intellectual property.

With 12 rounds of only 60 seconds each, you get fast-paced gameplay that mimics the stress of a real-life data breach. Sony (SNE) and Home Depot (HD) didn't get the luxury of time and perfect information last year. Neither do you.

"What this is at its heart is a critical decision-making game," said Craig Stronberg, a consultant at the firm who designed the game.

Related: Obamacare site tells marketers you smoke

PwC isn't normally thought of as a cybersecurity firm. But that expertise is in high demand nowadays, and PwC has a dedicated staff of computer specialists, ex-military and hackers. Stronberg, for example, was a Defense Intelligence Agency analyst at the Pentagon.

The idea here is to give company managers -- especially those with little technical expertise -- better perspective. That's why they play as both sides. The game is played for up to eight hours at a time by finance auditors, compliance employees and other boardroom executives, so they each get a taste of the battle their cybersecurity team faces everyday.

All companies are under some kind of cyberattack. They range from low-level scam emails seeking employee access to coordinated attacks that bring down corporate websites. And 2014 showed how much damage they can do when they break in.

Last year, hackers stole more than 60 million credit cards from Albertson's, Home Depot, Michaels, Neiman Marcus, P.F. Chang's, Staples and SuperValu. Chinese hacker spies took business plans from power plants. Russian hackers broke into oil and gas companies. North Korean hackers destroyed computers at Sony Pictures.

"We're at the point where CEOs are unbelievably concerned," said David Burg, PwC's top cybersecurity consultant. He cited a recent survey that showed more chief executives worry about cybersecurity than shifts in consumer spending.

Data from the Ponemon Institute shows the amount companies spend on cybersecurity has risen in recent years. But PwC thinks most companies don't spend enough or misplace resources.

Hence, its war games. Players learn every time the hacking team wins, or Acme Corp. runs out of money, or is forced to host a press conference to admit it lost customer data.

The game penalizes Acme Corp. if it talks publicly too quickly without assessing the facts. But Acme gets a boost for eventual honesty. Sound like real life?

PwC said the top computer security executives at major banks were scheduled to play a few rounds on Thursday in New York City. But don't expect to play this on your laptop or tablet anytime soon. PwC is keeping this one for clients only.

Related: President's committee says software alone can't replace spying on everyone

Related: How safe are you? CNN's cybersecurity magazine

First Published: January 26, 2015: 6:36 AM ET

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Is your target-date fund ripping you off?

NEW YORK (CNNMoney)

Based on the year you expect to retire, target-date funds are supposed to invest in a mix of stocks, bonds and cash that reflect an age appropriate level of risk that changes as you get older.

Yet, annual returns can vary dramatically -- even for investors of identical ages -- and some funds can carry sky-high fees, according to an analysis of more than 1,700 target-date funds conducted by online financial advisor FutureAdvisor.

"Just because it's called a target-date fund definitely doesn't mean it's the same thing across providers," said Janet Yang, director of multi-asset class strategies at Morningstar.

Consider the highest and lowest 5-year average annual returns for retiree investors (Target 2010 funds) and investors in their late 20s (Target 2050 funds). The chart below shows just how much the returns vary, often because of fees and competing investment approaches.

Related: Are you making this retirement mistake?

For savers in the Target 2010 funds, for example, a return of less than 3% likely won't be enough to help retirees keep up with inflation, while a return of nearly 10% could indicate investments that might be too risky.

Meanwhile, the younger investors in the Target 2050 funds are decades away from retirement and should be in funds with returns that are on the higher end of the range.

FutureAdvisor also found that, on average, funds that charged higher fees had significantly lower annual returns than their cheaper alternatives.

Take this example of one-year average returns for low-, middle- and high-cost funds in 2014 for workers nearing retirement this year.

Those who paid the lowest fees ($39 or less a year for each $1,000 invested) had the highest annual returns on average, while those who paid the highest fees ($160 or more) saw average returns of just 2.8%, FutureAdvisor found.

Of course, lower returns aren't always a bad thing, especially for older investors. Those lower yields can also mean that your money is invested in less risky assets, which protects your savings from steep losses should the market take a turn for the worse.

So how can you find the best target-date fund for you?

Make sure the timing is right: If you've been automatically enrolled in a target-date fund through your employer, double check that it fits with your retirement time frame. Default investments are based on your age so if you plan to retire before or after the age of 65, you might want to shift to a different fund.

Find the right mix: Learn how much of the fund is invested in stocks, bonds and other investments and how that mix will change over time. You should be able to find this information through your 401(k) provider or on the fund provider's website. Then, take our risk tolerance quiz to see if that mix makes sense for your situation.

Calculator: Are you on track for retirement?

Some funds, for instance, stop changing the investment mix once you reach your target retirement year, while others continue to change the mix into your retirement years.

"You really need to get under the hood of these things and figure out what's appropriate for you," said Todd Douds, director of research and operations at Pittsburgh-based Fort Pitt Capital Group.

Keep an eye on fees: Among all the funds it analyzed, FutureAdvisor found an average expense ratio of 1.02%, or around $102 a year, for a $1,000 investment.

A small fraction of the funds had fees as low as $39 a year for a $1,000 investment, while hundreds more had fees below $100. End up in one of the priciest funds, and you'll pay $160 or more each year.

Even a relatively small difference in fees can add up to tens of thousands of dollars in lost returns over decades of saving. "There aren't many things an investor can control, but fees are one of them," Yang said.

Index-based funds, which mirror overall market movements, tend to be cheaper than actively managed funds. But there are still overpriced funds in both categories so do your research.

Calculator: How much your 401(k) fees are costing you

First Published: January 25, 2015: 8:44 AM ET

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