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tv   Markets Now  FOX Business  January 18, 2013 11:00am-1:00pm EST

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been tarnished. >> come together on optimism. forget these nonsensical things, what is the number one priority? stuart: real fast, details from the federal reserve meetings as a financial crisis was unfolding in 2007. seems they cited home prices to drop only 5%. way off base there, charles. >> this is what people are afraid of ben bernanke. he underestimated the crisis going in, underestimated what would have been when inflation races. he is cocky he can flip a switch and make everything okay. nobody believes he will be able to do that. stuart: they were wildly inaccurate. >> they didn't see listed on it coming. i saw a fraction of the tsunami. it is so much worse. stuart: monica, charles, thank you. it is yours. connell: thank you very much. dagen: i am dagen mcdowell.
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connell: i am connell mcshane. find out if the republican party can find a message that resonates with the american people. dagen: stocks undervalued by 40%. here to make his case. connell: did you watch oprah interview with lance armstrong? did he make his case or hurt his cause? we will get reaction. dagen: and intimate the state income tax. one governor laid out his case, and wayne rogers likes the idea. top of the hour, nicole petallides is covering it for you o on the floor of the new yk stock exchange. nicole: the market is likely to the downside. the trend has been the major market averages are not too far off the unchanged line. see the dog over the unchanged line 50 times in one day is not unusual to see that, however the trend had been to the upside
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looking like nine trading weeks we have seen the s&p 500 now hovering around the five year highs. dow jones industrials as well and the nasdaq composite as well. intel weighing on the major averages, you can see down 6.25%. if you took out intel out of the dow, the dow would be flat right now. they came up with profits that were disappointing, weak outlook. not good news for intel weighing on the major averages, but technology in general. back to you. dagen: forget about washington. our next guest says stop talking about it, investors should be focused on making money in the economy and corporate profits are healthy enough to do that. joining us now, start with this. why can you possibly say don't worry about washington because long-term interest rates go up,
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stocks will not be undervalued, they will not be cheap and that could hurt the stock market. >> this is a great point you are making, but we put, believe it or not, a 5% 10-year treasury yield into our stock market model. we are assuming interest rates soar from here. and stocks are still undervalued today. we can take a lot higher long-term interest rates put my real point about this is if we go back a few years, the first fiscal cliff, the 2010 tax cuts were going to end. the first debate over the downgrade. all of those things happened, and yet the market kept going up. same with the fiscal cliff this time, and i believe people are overly concerned about a lot of the things that are happening around the world. the economy continues to grow, the stock market is really
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cheap, and that is what investors should focus on. if you go back to march of 2009, that was the bottom of the stock market. when we changed mark to market accounting for no longer forced it on financial enterprises and that is when the stock market bottom. since then they are up about 120% with dividends including and profits are actually up at least that if not more than that, so the stock market today is as cheap as it was at the bottom in march of 2009. dagen: is that because of economic growth, is it possible we get back to that level because of screw ups in washington because they don't
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deal with the debt, investors turned their backs on us as a nation, money in the economy meantime stinks to high heaven. >> it is still one of the safest if not the safest credit in the world. that doesn't mean he won't have problems in the future. but what we believe is interest rates are being held artificially low today by the federal reserve. they have promised to hold for the rest of our lifetimes they promised that means the whole yield curve has come down, these are artificially low rates. i believe the rates should be up probably somewhere in the three to 4% range, that is where they would be if the fed wasn't messing with interest rates. even if you put those interest
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rates into a stock market valuation model, the market is still 40 to 50% undervalued today. dagen: thank you very much. connell: the situation on the debt ceiling approaching quickly, republicans trying to decide what their next move will be. dagen: rich edson in virginia. rich: it is beautiful. a lot nicer than it was yesterday as republicans have concluded their three-day retreat and is about how to extract the most spending cuts and make the most structural spending changes over the number of budget fight and win the debt ceiling, the sequester. government budgeting the deadline hits march. one republican leadership says republicans are when it comes to the debt ceiling settling on a strategy.
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>> the one thing is we have set a structure moving a short-term so people don't have a fear economically of where we are and are able to move forward to solve this problem once and for all. rich: the strategy would be a short-term debt increased to work on the other spending points and come back to the debt ceiling perhaps in a few months. he says he is not sure when the timing of that vote would be, he only says sooner rather than later. connell: republicans have become of this retrieve a message that resonates with working people and says william berg is just group therapy. chris used to be al gore's press secretary, says the spectrum represented right here. i will allow you to go first for a little bit of fun. what do you mean by that? >> after the election were told
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republicans were going to do some soul-searching for the record low numbers of minorities that had voted. what we're seeing now, just heari justheard a few moments ar program that half the country holds a negative view of the republican party and the tea party is having its lowest level rating in history itself. this is a party right now that is in some serious, serious trouble. unfortunately it doesn't seem as though they're taking a very serious approach to addressing the issues in the country. it is good they have had a good first step agreeing on the debt ceiling, but it seems to be only a first step. connell: the matter what you call it or how you slice it there seems to be issues after the election. now they're on this retreat whether it is the reports coming up with some sort of short-term debt ceiling, the bigger picture, what should the priorities be in your view? >> first, i hope there was shock
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therapy fo so anybody says the d rape, they shot the whole things we can get away from that tendency somehow and members of our congress. the polling on republican party is focused on washington, which is very interesting since we a party that focuses on state. as a negative view of the washington republicans, we need to start focusing on the success that republicans have in the states. we will talk about that, but chris christie is getting all the attention, but john avalon wrote about how the number of minority governments at the republican party far exceeds the democrats. not just because of ethnicity, but these people like bobby jindal, suzanne martinez, they're doing great things in their state. if you look at the help of the red states, the safety of the
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red states, our party problem is we have a very deep bench and we don't go to those players. connell: we were talking with the "wall street journal" making his point in a column widely read now is the g.o.p. needs a spokesperson to put on tv to speak for the party. but brings up a good point, there are messages in there for the republicans that i am sure would be very appealing to people but not a lot of them get out. what do you make of that from your site? >> if we're talking about the things addressed in the republican retreat, this is pretty basic stuff. if you have to be told not to say stupid stuff about rape, that is pretty basic. don't insult women or minorities, told lef let's not t our country into default, and maybe should not be holding elected office right now. connell: those republican
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extreme elements get a lot more focus sometimes it seems like for whatever reason. patrick, change the subject quickly, i brought up chris christie, it is funny because ever since hurricane sandy there has been some conservatives, republicans that haven't been huge fans of chris christie and i wonder how that'll play out over the next few years. is that the way the party goes? or do they go in a completely different direction, do you think? >> be washed in journal article is an interesting point. we need a messenger, but we also need a message livery system. republican parties have been complaining about the mainstream media as if it is going to change because they complain about it. it is what it is. the fact chris christie has been focused on is because all the cameras have been focused on. chris christie said some things i might not agree with, but he's been a fine job as a governo thr of new jersey is a good example.
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if we have a messenger, we also need a message delivery system. the democrats in the obama campaign, i know some people in the obama campaign, they're able to get messages down to individuals. instead of just complaining about the mainstream media, let's buy some ads, let's buy some infomercials. not even necessarily on news networks, let's put it on the discovery channel and talk about our messages, explain to people the reason that they got a short paycheck this first time around is because of spending problems and tax raises. let's not rely on the people who own the cameras, let's buy the cameras. connell: that is a good start to the discussion, we will continue to cover it out of williamsburg. thank you guys. dagen: so, lance armstrong, what was the purpose of that interview last night?
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oprah dropped the ball, the wheels come off her bike and he just seemed like a jerk. is that what jim gray thinks? known fonone for some very contl interviews himself. we will hear from him shortly. connell: that was well put. and even if the state income tax, one governor who wants to help business. wayne rogers loves the idea. wayne is also coming up. as "markets now" continues. just about $95 oil today. we will be right back.
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nicole: this is a new ipo on the nasdaq. a norwegian cruise line. take a look at how the stock has kicked it off with a up 31%. in $19 offer, and these companies actually have been doing very well. royal caribbean of 33% over the last year, and this one kicking it off. they have been in business for 46 years or something like that, but you can see what a great day for an ipo taking off. back to you. connell: it won't stop us from making a little bit of money with charles payne. dagen: talking about bowling. what do you think happens for investors here, charles? charles: it depends on how long this goes on, but the whole macro situation with this is incredible. from 2011-2031 we are going to have the demand for planes will
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be $4.5 trillion. right now they have one legitimate competitor. more will come on in five or 10 years down the road. the world is just perfect for them. execution hasn't been perfect, so the stock is down but not down so much i had it in a 401(k) i would sell it. really thing i've ever seen that is around the stock is in the global economy gets in trouble. $105 in 2090 2:30 six, saw this for the stock is not impenetrable. it can occasionally collapse. this is one, not a trading vehicle or anything like that, but i would not be shaking out of this stock right now. dagen: again, saturday mornings, charles and i. connell: and some other people. and ben stein. connell: she is able to get out of it.
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fired up about this whole lance armstrong interview. i think she's more interested in it than lance is. dagen: that is the problem actually because he doesn't care. connell: did he save his brand or did he cause more problems? more on that coming up. dagen: there is no image to save after that. and the governor of nebraska wants to dump the states income tax. you heard me right. take a look at the world currency and how it is holding up against the dollar. [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda.
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>> 22 minutes past the hour, this is your fox news minute. the latest in a hostage situation at the gas plant comes from the algerian government news agency. reporting nearly 100 of 132 foreign hostages kidnapped by islamic militants has been freed. white house says the president is receiving regular updates on the ongoing situation in algeria. the conflict is escalating. anin the first of 900 troops to
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help the army and french troops battling al qaeda linked rebels. a top military officer says those rebels have been training islamic terrorists in nigeria. crews from other west african nations are also joining anti-rebel operations. the multiplex theater in aurora, colorado, is open six months after last year's massacre. 12 people died and dozens others injured. the mayor said we're a community of survivors, we will not let this tragedy define us. those are your headlines, get you back now to dagen. dagen: lance armstrong finally admitted it, he joked during his career during all seven tour de france victories, so how did he feel about it? here arhere's some of what he td oprah. >> did it feel wrong?
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>> at the time? no. >> it did not even feel wrong? >> no. scary. >> did you feel bad about it? >> no. even scarier. >> did you feel in any way that you were cheating? >> no, scariest. dagen: that did not seem rehearsed at all. i have been very vocal about what i thought about that heartless interview. what did you think? >> i thought it was ruthless and callous and hollow and shallow, so matter-of-fact, it was just disturbing on a lot of levels, it is just disgusting the worldwide problem he perpetuated
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and it just didn't seem like there was any remorse and it is hard to tell what is in somebody's heart, but we know the kind of character he was on the bike in a scene that transformed itself here on television. it didn't come across as sincere or likable and he hasn't been a likable character even in competition he has been feisty and arrogant and condescending and the camera does not lie. dagen: why did many in sports journalism and sports in general in this country around the world let him get away with it for so long? we were so charmed by him for so many years, why didn't this come out much longer ago? >> i don't think that has been the case. i think everybody has bee done s trail from awful lot of time it has been denial after denial and he is aggressively gone after
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people and sued for libel and destroyed, he said last night about his own massage therapist that she got run over. no, she didn't get run over, lance armstrong ran over her. it doesn't even recognize what he has done. but when you say what is her but let him get away with it, they haven't. they have been on his trail for awful long time as have the doping agencies and it is easy to look back now in hindsight and say we should have done this, we should have done that. but look at te'o now. who checks a death certificate of somebody? usually when somebody is in a credible position in a university and they tell you something has gone on and you want to believe them because of their ability and because they are in a university committee don't go look for a death certificate. we have to deal to take people at their word and in this case it was a word that didn't exist.
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so i kind of take a little exception to that. people has been on his trail since he has been doing this. dagen: david walsh writes in the sunday times. you are no stranger to controversial interviews, what should oprah have done? she is just a lot of due criticism for not asking or pushing him to ask good follow-up questions. >> i don't agree with that. i thought she did a sensational job. i don't make that assessment at all. she is a legendary figure and she performed brilliantly and i love opera on television, i like her very much personally and those people who are saying those things wish they had the interview. those assessments are being made by people who are jealous, envious and petty. dagen: i don't believe i'm jealous, maybe a little envious, don't think i'm being petty to say what he says i'm not going
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to talk about her, she moved on. when he refuses to say she was telling the truth about the missioamission hospital in 1996e moved on. she did not push him. >> do you want her to have a constant argument? >> i want them to argue a little bit, is that wrong? >speaker you are certainly entitled to your opinion. connell: as are you. good to see you, thank you for being here. you're welcome back anytime because i enjoy it when people argue with me. >> i'm not trying to be argumentative. it was good to see you read we don't book people because they agree with us, how boring is that?
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connell: all a good talk. watch the hand. when rogers is coming up to talk about the idea of scrapping state income taxes. wayne loves it, he will come in here and do his usual thing, be fired up about something. connell: here are some of the winners on today's s&p. ♪
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♪ dagen: the governor of nebraska won't do bit rate of income taxes in his state on both residents, individuals and corporations. what could that to do on the state of economy? wayne, you look fantastic. great to see you. >> thank you. great to see you. dagen: is this a good idea? >> yes. let me tell you why. income taxes are production taxes. they are taxes on people's ability to produce goods and services. a sales tax is a tax on consumption. on the other side of the coin. he is suggesting that he takes the sales tax exemption, people that are exempted, up to
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$2.4 billion, he wants to take those away and take away the income tax so that they will all be supported the things that he is doing in the state of nebraska. that is a great idea. it is a lesson that the united states congress should look at before wayne, in a federal level, you are saying congress look at this. >> it will not fly because they are morons. you have idiots up there that combined iq is minus 15. they are paid off the other way. the lobbyists would go out of business. if you had a national sales tax or a national consumption tax, it would be much better than an income tax. dagen: i understand that. it makes our national taxation system incredibly regressive,
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does it not? >> defined regressive for me. dagen: there is a greater burden on lower income americans because they spend more of their own income on things that would be taxed. we already taxed gasoline, if you go to a national consumption tax, it is a greater burden on them than higher income americans. >> first of all, that is not entirely correct. what you said is correct because it is a higher percentage of this. rich guys go by airplanes and boats and all those frivolous things. they will pay a higher tax. that is where it should be. dagen: at a state level, wayne, if more and more states move in this direction, which seems to be the case, part of the reason that you would want to do that is to attract business to your
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state, does it lose some more and more states move in this direction, save louisiana? >> well the governor is saying something else. he is saying i want to make it a level playing field so if i reduced the income tax and my say, if i get that down, i will be much more competitive. people will come to my state and want to start businesses. dagen: that is my point. personally, i would choose the much warmer states than the fine state of nebraska. >> well, how can i argue with that. i happen to be a resident of the state of florida. dagen: it was good to see you. thank you. be well. connell: some pretty good lines on the show today. dagen: an iq of negative 15. connell: let's go down to d.c. and talk about the inauguration. security is the top priority.
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taking all measures to make sure that that is protected from any threats. dagen: we have more on what the special security designation is for the inauguration. hey, kathryn. >> good morning. this is a national special security event. a lot of folks are under the wrong impression. this has been around since the late 90s. it was first used under the clinton administration. the secret service is the lead. fema is the lead agency is any kind of recovery is necessary after a major incident. earlier this week, we went to the secret service command center here in washington. this is at an undisclosed location. the secret service is always reluctant to discuss the current that picture.
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there is no specific or credible threat to the inauguration at this time. >> currently, at this time, we do not have any threats. that is something we will continue to monitor. what we do ask is that the public those that are attending the events keep your eyes and ears open and report any suspicious activity to your local law enforcement or the fbi. >> it is not just intelligence that they are facing. they also had to consider what the weather conditions are. four years ago, the temperatures were extremely rigid. when you have several hundred thousands of people, many of them young or elderly, you can have people with hypothermia that need radical attention as well. that is part of the big picture. connell: what about the so-called longest mile? >> that is a great question. for people in the security world that cover this event, they call
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it the longest mile or the toughest mile. it is right along pennsylvania avenue where the president and the first lady are the most exposed to the public. what we have seen in previous years if you have high capacity, high density crowds really concentrated around the capitol building. it tends to dissipate as it towards the white house. the real difficulty is how you'll respond while while trying to minimize any casualties. earlier this week, we spoke to the former chief of staff. he was involved in the security four years ago. >> if you look at, as the inauguration proceeds, the population density gets tighter and tighter as the movement towards the capital. as a result, your ability to maneuver is more restricted, obviously, if there are any types of explosions or active shooter scenarios, because of
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the density of the individuals there, the casualty count could be quite high. >> what they do to mitigate the potential for casualties is, you will have visible security of long the wall here. then, you will have people in plainclothes, as you would suspect caught that can give what you would call this suspension fire. connell: thank you very much. dagen: imus is live on monday. as a hostage crisis continues to develop and algeria, some people think it is only a matter of time before the u.s. has to get involved. connell: here is a look at the markets today. down a little bit. we will be right back. ♪ look, if you have copd like me,
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♪ >> i have your fox business brief. consumer sentiment declined for a second straight month in january to its lowest level in more than a year. the reports show lingering concern over remaining fiscal issues like the debt ceiling. venture capitalist tightened their belts last year.
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according to the money street study startup investment fell. taking out more money than you have to the next time you're at the atm will soon be a thing of the past. at least for some customers. that is the latest from the fox business network. giving you the power to prosper. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at today. and now you're protected.
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♪ dagen: research in motion looking to win big with the release of its new blackberry ten did the smart phone will be unveiled later this month. connell: we will see what happens.
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paying developers big bucks and apparently everything else. sandra: skeptical. investors are not so skeptical. the stakes keep getting higher and higher for the blackberry maker. the stock getting a nice jolt today. shares of 6% within upgrade from jefferies. it could allow the messenger and e-mail to be licensed to the iphone, as well as, the android phone. almost doubling as the high hopes of the messenger. they registered for the ready program. we know businesses will be on board. what about customers? it is all about apps. making big strides to pay developers. 6000 apps were developed.
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it will pay each developer $100 a pop. it has $500,000 ready for you to start coding. get your keywords out. connell: we are on it. thank you, shibani. dagen: quarter till the hour. stocks now and every 15 minutes. nicole: it is interesting when you take a look at the financials. we have seen some of the financials hitting 52 week highs. the big picture is what we expect for 2013. we have been talking to some other traders. bank of america, for example, was the best performer in 2012. some of their earnings really have not been that great. we are expecting, as i talk to some of the traders, they think that these banks will continue to trim the fat and actually do well in 2013.
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citigroup 41.19. connell: let's take a couple minutes to talk about the biggest international news story of the day. the hostage situation in algeria. our next guest says the u.s. would've pulled further further into the crisis. ambassador stuart holliday joins us. it is good to see you, sir. what are your biggest concerns, other than, obviously, the safety of the americans that are involved over there. >> obviously, the biggest concern is that this conflict spills over and connects with the conflict that we have in bally with libyan weapons flowing in. you see them getting together. it presents a long-term problem. in the short term, the algerian response, they have a very tough policy. the operation appears to have
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had, we do not know for sure, but some mixed results in number of hostages killed and so forth. they have a very tough policy in this. the issue, for the united states is, what is the tripwire for us to get further involved. we have already cooperated closely with the algerians on counterterrorism. american lives are at stake now. connell: the information has been difficult to get. when we think of terrorism, we think of a number of countries. what we don't, for a number of reasons, we don't think about all gerri up. what should we know about that area of the world that is important? >> there has been an islamic movement for decades brewing in these countries. in the case of molly, you have a country the size of texas and california combined. the central government has been weak. the al qaeda movement has been
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able to get a foothold. in algeria they have been having an islamic movement there. it is a result of the organization, the islamic movement gaining critical credibility. it is an area where we will have to pay more attention to. connell: continue to update us throughout the day. ambassador stuart holliday, thank you for your time. >> thank you. dagen: there is still time to get off the sidelines. sandra smith has today's trade. i thought it would be a tease about football. connell: some very big games. dagen: i am excited. [talking over each other] connell: nasdaq winners today. there you go. you can read. i do not have to read them to you. we will be right back.
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markets now. ♪
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connell: global market continues continues to gain steam leaving some investors on the sidelines. dagen: sandra smith has more in today's trade. sandra: pretty amazing some of the numbers that you look at. things look pretty cheap right now. the s&p 500 pretty significant right now. look, these are the leaders in the s&p 500 right now. earnings would be an opportunity for the investors to jump in.
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if you have missed the market rally, look at morgan stanley up 7% today. you have ge, dupont, caterpillar leading the way for the down right now. have i missed the market rally that has been going on the past couple of months? here is the five-year chart. thanks to the rally of the past couple days, the s&p 500, since that low, up 120%. what we will look at in the trade, every hour, in today's trading session, is the fact that the average pe in the stock of the s&p 500 right now is 15. that is the lowest it has been on average since 1988. the average is 2.2%. better than the ten year right
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now. we will look at some of the companies that are presenting that opportunity for you. connell: more importantly, sandra, more interest in the manti te'o or lance armstrong? sandra: lance armstrong, for sure. i feel horrible for the other one. i respected lance armstrong as an athlete. he really let me down. connell: i am more interested in the manti te'o. dagen: i am fascinated. we know oprah needs to grow a backbone and he needs to grow a conscience. see big thank you, sandra. more on all of this coming up. dagen: i will still watch tonight. did lance make the sale during his interview with oprah? connell: dennis and cheryl are coming up. whether lance armstrong was able to pull it off with oprah
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winfrey last night. dagen: you need to have a soul first. we will be right back. ♪
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connell: you just love how dagen will be the only person that will watch part two of the lance interview tonight. dagen: one of eight or nine maybe. cheryl: what are you talking about? i am watching it. connell: i will not watch part two. dennis: you seem to be more critical of oprah winfrey than lance. i think he filled us with more denials. connell: he denied a lot. dagen: denied that there was bribery involved. dennis: denied doping after oh five. dagen: he played it down. dagen: oprah did not push them.
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dennis: maybe she will get a back bone tonight. we will see. i am dennis kneale. cheryl: i am cheryl casone. the s&p at a five-year high. our experts will be here with investment advice. how you played these numbers. dennis: get your money safe. cheryl: we were just talking about this. do you think that lance made the sale. whether lance armstrong was convincing last night to oprah. dennis: stocks every 15 minutes. markets in the red for now. nicole: not that. as you noted, you did say we were at the five-year highs. we are. we made it through the financial crisis. we are pulling back some.
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some of that comes from intel on the dow jones industrials. a weak outlook. this is weighing on the dow by about ten points. let's take a look at facebook. we followed facebook so closely. it is back below $30. so much going on with facebook. the latest is about instagram and they continue to say they are growing users. it is a great three-month chart. there is a graph search now. we will continue to focus on that. one and a quarter percent lower. cheryl: nicole, thank you very much. the s&p 500 hitting a five-year high this week. housing the best it has been in four years, is the market ready for a big 2013? our guess is they not start celebrating it. we have insight over the market and the economy.
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jim, i am going to start with you. if the cliff was not adverted, we would have a recession on our hands. we had a few hours of a cliff anyway. do you feel any better, now that we have begun the year? >> a little bit better. the numbers are not that great. the economy is growing below average. it is not a necessarily good number. earnings are around 3% for this quarter. those are not very good numbers. what we do have is a very loose said providing tons of accommodation. dennis: we are reporting about what bernanke and the said were talking about back in 2007. they seemed, frankly, a little bit unprepared. their predictions were incredibly low to the tune of a few billion dollars. were you surprised at all by how unprepared the fed seem to be in
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2007? >> that is the way i remembered it. i was a little bit surprised. the fed got run over by this. they just did not understand what was happening. they did not believe it. they did not know what to do. that was kind of the impression that i was left with. cheryl: joe, you say that right now we are in what you are calling and economic groundhog day. what do you mean? >> we have been with optimism and we in the year with a lot of grumpiness about the coming slowdown. we will get through this. we will have a few months of noise about the debt ceiling debate and then they will just do what they always do. we will get some stability and then we will start whirring
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about 2014. just a repeat cycle of what we have been seeing. that is why investors have so little confidence. pulling $90 billion from the stock market last year after a 16% advance and going into bonds where we have the highest risk. cheryl: if you say it is groundhog day, 2012 was a decent year. we made money. we did not lose money. we did not lose ground in 2012. you sound like you believe that. >> we have absolutely been making money for the last five years. it has been fantastic. the consumer is the average investor. they are ignoring what is happening in the market because they are overwhelmed by the news. that will not change. you have to remove the motions from the decision-making. the markets have been doing great.
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you think it will be a good year, just, the news will not be good. cheryl: jim, i want to get a couple of things. how do you feel about the bond market for 2013? they are saying you have to go equities. forget bonds this year. >> i would think everybody is. about 99% of the investor community hates the bond market. it has outperformed the stock market for the last three years, five years, ten years, 15 years, depending on what time frame you want to use. as long as they are continuing to buy securities, the economy stays below average, the bond market will hang in there just fine. it will be a long time before we see rates rise. i suspect we will get, for many more years, we will be saying it before we see the rate rise. cheryl: joe, you are telling our viewers to avoid long-term
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bonds. you are also saying of merging international and developed markets. >> definitely overseas. we think the next few years will be very interesting. secondly, their own global brand that can take advantage of the huge flow of money and the wealth creation that is happening in brazil, china and india, all over the world. africa. i just came back from there. procter and gamble to cope. those are the names you want to buy. cheryl: gentlemen, thank you very much. appreciate it. >> thank you. >> thank you. dennis: the debt ceiling quickly approaching. republicans struggling to come up with their next move. cheryl: planning seems to pick
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the can down the road yet again. rich and -- has a story. rich: the debt ceiling, automatic spending cuts, known as the sole questioner, and, of course, government spending set to expire. this is from paul ryan. what we want to achieve at the end of the day is a two-way discussion between democrats and republicans. out of that, hopefully, some progress being made to get this deficit and debt under control. we believe our obligation is to help prevent a debt crisis from hitting this country. republicans have had a tough spot here.
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the president of united states as he is not negotiating the debt ceiling. he says it is simply up to congress. it is due to spending that is already approved. the majority of republicans voted against the deal because there were no spending cuts. this was the first strategy session. we are going to have these fights throughout the spring. back to you. cheryl: we just had a guest trying to tell us to avoid the noise in washington. thank you very much, rich. dennis: let's take a look at apple shares right now. down five dollars. 1%. another tip today. an analyst says do not hang up on the iphone maker.
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that cancellation of orders for iphone parts, it is not tied to sell drop in demand for iphone5. apple is moving toward so-called -- screens from different suppliers. analyst who are usually critical of apple came out and said, look, this recent sellout, way overdone. cheryl: there really is a lack of facts. we really do not know the true details of what is happening. dennis: people who trade daily had to overact to the slightest, you know negative thing. cheryl: speaking of apple, help wanted signs are out as the company looks for a new voice for siri. dennis: plus more on lance
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armstrong. cheryl: we have charles payne coming up. how you can make money on monthly until. dennis: first, as we do every day at this time, let's look at oil. ♪ [ indistinct shouting ]
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cheryl: 15 minutes past the hour. stocks now every 15 minutes. you have phil flynn in the trading pits of the cme. we have sandra smith. and we have charles payne making money on monsanto. first, to nicole on the floor of the new york stock exchange. nicole: the dow jones industrials down about 20 points. the s&p 500 down about one quarter of 1%. the tech heavy nasdaq, the worst of the bunch down about a half of a percent. we have bank stocks called for
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the most part, the down volume has accelerated to the downside. as far as some names we are following, ge came out with their quarterly reports. the best performer on the dow. intel also out with their numbers. we saw this week outlook and that is the biggest loser. that is the latest here on the floor of the new york stock exchange. phil flynn, what is going on in chicago? >> traders are trying to determine just how tight the market will be. talking to the south american government. discussions not to be so fast to close down some of those lines after the incredible run we had this week. that is leaving platinum investors to take profit. take a look at gold right now.
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we are down $2.60. it has been an incredible week for these metals. gold hit the highest level in terms since 1980. obviously, that japan stimulus has been a major factor in the gold buyer. we have seen it go up dramatically. right now, with talk of more stimulus into the marketplace, that will keep the precious metals strong. i can't wait to get to sandra smith. sandra: a little bit of a selloff today. investors look at the long-term. here is a rally we have seen over the past few months. look at this rally we have been in since 2009. the s&p 500 up 119%.
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i looked at some stocks that would be the cheaper ones. i did a stock screen. take a look at these ten names. s&p 500 companies with a market cap of at least $1 billion. a pe of under 15. meaning it is pretty cheap and a dividend yield of over 2%. 3m came up for that. a dow component. air products and chemicals. allstate. apple, by the way, it has been heavily in the news. it falls into that cheap category. and boeing. even with all of the bad news. it is looking at like a really good stock. you have to set the bar higher. a dividend paying over 3%. these bottom five stocks, dell, two-point fell into that stock.
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back to you. dennis: thank you very much. now, it is time to make some money on all of this with charles payne. looking at on sando. charles: i have to get sandra a shout out. mann sent out to be is one of the stocks that you buy and put away. you know what i like that we never talk about. research and development. a lot of these companies. the street by a penny or two. in the fourth quarter, the last quarter with these guys, the net revenue was down. research and development was up 9%. these guys are so far ahead of the competition with their products. around the world, they will take up all of it. this stock is going back to that $140 target. cheryl: how sensitive is monsanto?
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charles: everything was skewed over the last few years. the fact of the matter is, and one of my basic theories is, the world has never been this prosperous before. cheryl: i like that. think about the entire planet. it has never been this prosperous in the history of mankind. for companies like monsanto, the sky is the limit. dennis: thank you very much, charles payne. cheryl: still a very confusing situation. the algerian hostage situation. we will have up-to-the-minute details coming up for you. dennis: did lance armstrong make the sale last night on oprah? cheryl: as we head to break, let's take a look at the world currencies. the euro still hanging in there. the local
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>> @22 minutes past the hour, i have your fox news minute. defense secretary leon panetta met in london to discuss a hostage situation in algeria. he says terrorists will find no sanctuary caught refuge in algeria or anywhere.
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reporting about 100 of 132 foreign hostages have been freed from the bp gas plant. reuters announced that they are willing to trade two american hostages for -- meanwhile, the conflict in neighboring malley is echoing. the first 900 troops to help the army paddling al qaeda linked rebels. a top nigerian officer says they have been training islamic terrorists in nigeria. troops are also joining the anti-rebel operation. those are your headlines. dennis: thank you. it is time for your media minute. today, didn't lance make the sale? he went on oprah last night. he apologized for doping and lying about it for like 12 or 13
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years. >> did you ever take banned substances to enhance your cycling performance? >> yes. >> yes or no, was one of those band substances epo? >> yes. >> did you ever blood dope or use blood transfusions to enhance your cycling performance? >> yes. cheryl: was lance convincing? what do you say, bob? >> i think lance armstrong is an american embarrassment. he is a fraud. he is a disgrace to the country. we should stop giving him attention that we are giving him. this man lied. he lied to the public. he lied to his advertisers. he lied to his teammates. he lied to the world. we should stop him. we should not be giving him any more attention. dennis: how did he do at making the case for forgiveness?
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>> i think he punctured it with the fact that he is a disgrace and an embarrassment. dennis: what did he do wrong specifically? >> i think about lying about the lie. this guy will be with us for a long time legally, he will lose all of his money. he will be with us in terms of his endorsements. they will all go away. cycle is four years and years will be referred to as this guy. he did one thing that was really unusual. he began to open up a debate that we should have in this country and, perhaps, the world. sports. that is one thing he did do. i will give him credit for that. dennis: it seemed like a lot of his denials were the watergate denials. he said the truth is not what i said. i did not invent the culture. i did not have access to anything that anyone else did not have access to. who told him it would be okay to common and denies some of the
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allegations still. >> i think his advisers will keep a very low profile. they were giving him very bad advice. this man lied consistently over years. he originally said no. he had to go on oprah winfrey to tell us that he lied. that is ridiculous. dennis: you think that the press will allow him to get by with this. >> i think the press should ignore him. this guy is a "has-been." he should be ignored. there are people who are lance armstrong followers. what they need to realize is that lying is not a good thing. it is the wrong thing. he let everyone down, including himself. dennis: which is worse for his comeback, that he lied for sony years or that he was vicious and attacking those ones who told the truth? >> the fact that he lied for
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that many years was pretty bad. the fact that he went after people who told the truth is really a mistake. what do we have to base our standards on in society except the truth. dennis: he is a dead man walking. thank you for being with us. cheryl: banks are a hot target for cyber criminals. why security experts fear the state-sponsored hackers will wreak havoc on the u.s. financial institutions. dennis: u.s. consumer sentiment falling to its lowest level since december 2011. we will have the wise i had. cheryl: as we go to break, take a look at some of the winners over on the s&p. morgan stanley coming out with their earnings. we will be right back. ♪ [ woman ] if you have the audacity to believe
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[ male announcer ] ask your doctor if chantix is right for you. cheryl: warnings of a cyber pearl harbor. state-sponsored hackers could wreak havoc on u.s. banks. coming up, closer look at what could happen. the state of the u.s. consumer sentiment fallin: despite a hog turnaround. plus, help wanted at apple. they need a new voice for siri. dennis: nicole petallides at the new york stock exchange. the dow is down. nicole: the dow is down. we had been in positive territory. of course intel continues to weigh in on the dow. down about a half a percent. i wanted to get to an ipo today doing really well, that is norwegian cruise lines which
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debuted on the nasdaq today, but the stock has been jumping, soren. it is up 31%. take a look at some of the other names we followed so closely. carnival cruise taking up, royal caribbean down 1.7%. just to give you an idea of how the fans have done over the last 52 weeks, norwegian excluded, the last 52 weeks they have clearly outpaced the s&p 500. royal caribbean is up 34% in 52 weeks. the s&p 500 up 12.5%. that is not too shabby. most people would not find. back to you. dennis: thanks very much, nicole. cheryl: breaking news into "markets now." john boehner says there should be no long-term u.s. debt limit
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increase before the senate passes a budget. this just crossing again that breaking news comments from john boehner. dennis: hackers wreaking havoc on u.s. banks with now where that could put your money at risk but the risk goes far beyond banks. boarding lawmakers of an impending pearl harbor, so who is responsible and how can we eliminate this rather unconventional threat? one of governments go to on cyber security. former navy seal officer. thank you for being with us, john. the iranians we know now are attacking u.s. banks. do we know what they were after? apparently they didn't steal customer information. >> first, thank you for having me on. there's a lot of different facets to this attack. all the indications point that the freedom fighters or cyber
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fighters, tha there hasn't beeny information released as to what they were after other than disrupting the financial networks. i think that is an important point because disruption itself in these networks is in many cases more damaging than actual stealing money because it induces uncertainty into finance and as we all know that can pose real problems. dennis: is a foreign governments are attacking us, we need your help in security, is this a good idea where does this make the bank in dangerous themselves? >> there are a lot of different ways to look at that problem. it isn't a private partnership approach will be absolutely necessary in this new phenomenon of cyber. it needs to be a solution that
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combines both of those resources to make the overall network safer. dennis: on race we have a problem with microsoft windows dominates the world. in the triangle of the vendor that makes the tech stocks, the customer who uses it and government, where his most important responsibility lie in stopping the future pearl harbor type of attack? >> most important aspect is what application is this particular d technology going to be going to? in fact, in october a major turbine company had been hacked into and that was going to go there, it has to be relations from the federal government to say if you're plugging in the device into the network you should have a minimum level of this security and at the same time the private sector has to be incentivized to want to build solutions to meet those standards.
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dennis: have been quibbling for a decade over who should pay the cost. they have no answers yet. thank you for being with us. cheryl: america's not so confident in our economy. now the lowest level since december of 2011. and a september 2007 fed meeting just released and predicting we would only see a 5% decline in home prices over 2008 and 2009. in reality they fell 30%. joining me now, senior financial analyst greg. kind of surprising but notice the minutes we got for 2007 meeting seemed like they really were so unprepared. >> very clearly you are right, cheryl. the fed was unprepared with what happened to the broader economy. they were really behind the
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market playing catch up the entire time. that is what raises a lot of concerns about this very loose monetary policy. if the fed going to withdraw this stimulus in a popular fashion that we can avoid inflation. their track record is pretty dubious. cheryl: there are so many issues facing us, that is why it is alarming some of the comments especially from the bernanke. they're telling us they will keep interest rates low, but do we buy that at this point? one of the things that is really doing is helping the housing market. you're right, inflation comes in, and then what rush mark >> i don't think the we will have inflation immediately. the problem is when it comes, could come fast and once again the fed is playing catch-up with that. i don't think there's any risk of that happening in 2013 from the housing market, housing is improving and the fact mortgage rates have been so low i expect they will remain low in 2013, i
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think the 30-year fixed won't be an impediment or well qualified borrower. cheryl: 3.38% right now. it is incredible. we have homebuilding numbers out. look at the builders themselves, they started 708,000 homes for the year, that is only about half of where we were if you go back to 2006. i am wondering if we're all getting ahead of ourselves and n celebrating the return of the housing market and how good the economy is doing. >> we have to have the context look at the broader measures like the housing and other permits this they have rebounded from the depths of where they were but we're still 30% below the normal pre-bubble levels that we saw in 1998 to 2001. to still have a long ways to go. while housing is recovering, that recovery is more
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sustainable in the market they have managed to work with the backlog of foreclosures as compared to states we backlog still exists. cheryl: greg, thank you very much. >> thank you, cheryl. dennis: meets the small business founder who is making money by giving back. cheryl: details in our "west coast minute." dennis: first, take a look at the 10-year treasury. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back.
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tracy: i am tracy byrnes with your fox business brief. honda recalling 749,000 vehicles in the u.s. due to airbag deployment issues. recall covers 2009 through 2013 models of these vehicles hit in the 9000 of the same vehicles recalled in canada as well. and shares of mobile go higher h higher on news of an upgrade. citigroup listed the watchmaker citing revenue growth that should lead to substantial margin expansion. also raising the target price to
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49. and unemployment rates fell in 20 states in december also slower hiring showed improvements in the labor market. 25 states where the rates are below 7% now. nevada and rhode island tied for the lowest rates. that is the latest from fox business, giving you the power to prosper.
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cheryl: we're getting some breaking news. the house is set to vote on extending the debt ceiling to april 15 next week. rich edson joining us in virginia were these headlines are crossing from. rich. rich: actually to go much longer than that, three-month extension. longer than april 15. republicans will vote on a bill that extends the debt ceiling for three months, this would be from the time february is supposed to run out between february and march treasury says three months beyond that, debt limit increase that would be
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contingent on the senate and house passing a budget. for years they have failed to pass a budget, and so the debt ceiling would not increase unless the senate and house passed a budget. also, the bill would include language that if congress does not pass the budget, members, greshamission members were not a paycheck. if not, congress does not get paid. thank you. cheryl: thank you very much. over to you for breaking news. dennis: dow jones report in the u.s. negotiate hostage swaps with terrace. cbs is reporting one american hostage is dead, four others have survived in the algeria crisis over there. cheryl: every 15 minutes, of course stocks now and nicole
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petallides standing by at the new york stock exchange. i was watching the breaking news came, but not a big reaction from traders. why? nicole: they watch every headline, you're not really seeing a reaction from that particular headline. some of the names i pulled up, these are today's movers, caterpillar, dupont, mcdonald's, verizon, some of your best performers in the dow jones industrials of course general electric has been a good one helping things along. i also wanted to look at some different retailers. was noticing some of them actually had a great week, 3.5% for some of these names. the gap, best buy. up about 25% just this year alone obvious that a lot of talks for those of the names on the move. thank you. dennis: after father was diagnosed with cancer, my next
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guest was inspired to create a fashion line that helps give back by creating awareness and donating a portion of her sales. joining me now for small "small business, big ideas." you're been in business is only a matter of a few weeks, you're selling t-shirts that you signed and 5% goes off the top to charities. why do this? >> was inspired by my father's battle with cancer and wanted to do something that created fashion it also gave back and raised awareness. our t-shirts not only give back but we are raising awareness for the causes as well. dennis: this is a smoking skull. what charity to set proceeds go to? >> lung cancer research. it is in hackensack new jersey, they have a tumor bank where they research all different tumors.
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dennis: how did you pick them? >> my brother passed away i wanted to do a shirt that gave back an inspired people to overe addiction. dennis: is that a great marketing gimmick to let your t-shirts stand out versus other t-shirts or more that you have this open heart to have to do with it is marketing or not? >> i'm definitely doing this for the cause. i've over its charities right now i really just want to give back. something that you want to wear that is fashionable. this is fashionable, high-quality and to be honest with you our prices are extremely competitive right now. we're still donating on the total sale. it does not matter to make a penny, i still donating on the total sale. dennis: we have the whole red campaign and employees can you start hiring and expanding her business, they like the extra cost to go after. rest of luck to you, thank you
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for being with us. >> thank you. dennis: cheryl. cheryl: it is time for your "west coast minute." california getting an infusion from the federal government. the grant is for covered californians. other states are resisting spending of the health care changes under obamacare the golden state is not only forging ahead with the first order of business $250 million marketing campaign to get word out about it. celebrations have more than 787 problems for it now. they rejected yet another offer from the company. 23,000 workers offered a 5% wage increase and higher pension benefits for current employees although the union boss or told not to vote in favor. they could have a strike on its hands. and sky harbor airport is number three in the nation not for
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on-time flights. but the guns confiscated in 2012. arizona allows anyone 21 and older to carry a concealed weapon without a permit. the most common excuse heard by the tsa, i forgot i was carrying it. and that is your "west coast minute." dennis: rvs, recreational vehicles are selling very well and we are live at a florida dealer. cheryl: and why apple is looking for a new voice for siri. dennis: a look at some of the winners over on the nasdaq. officemax has exactly the ink... your business needs... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase.
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dennis: rv sales are on a roll as families try to cut back on vacation cost to take advantage of the ever popular homes on wheels. at the world rv conference in tampa, florida. rv sales have enough for the past three years, apparently all solely due to baby boomers retiring? speak a lot of it is baby boomers retiring. really, consumer confidence and a slow economy not impacting the rv market at all. this is one of the smaller rvs only costing $10,000. there is a huge variety, an array from prices and sizes, about 1000 of them at the tampa super show. these kind of trailers that actually hook onto your vehicle, these are actually 90% of the
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entire rv market. >> new people going to different places, enjoying outdoors working with people that you have never met before. >> for me it is just fun, i love it. speak with a variety of sizes at the super show and in the industry and according to the recreational vehicle industry association, about 10% of american households now have an rv of some sort at the house. you can have the $2 million motorcoach that was all tricked out and you can control everything on your ipod or even have the smaller teardrop size as well. the absolute first rv, truly an american product and the president of the company says last year alone their best sales
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year ever. clearly rv economy is surging. >> we're back now starting in 2010 until today, we are back about 85% from where we were before the recession hit. >> so everybody from the sales and extremely happy, typically they are a really good around her were forecast of the nation's economy as a whole, the first one to come out of the recession right now. expect the rest of the economy to follow. dennis: the help wanted sign is out to give a new voice. one of the things apple wants to do is transform siri into distinct recognizable character. recent job description says they're ithere in search of a ce writer for character driven
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