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tv   Markets Now  FOX Business  December 5, 2013 11:00am-1:01pm EST

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for higher wages and unionization in the days of obamacare, those with chronic illnesses could look at drug costs. this is evidence of the complexity of this law. the upper midwest with a weekend storm tmaceatening, pushing up energy prices and using instagram to gauge how happy an entire city is. the top five happiest cities in the nation according to one survey, two cities from the same state. the you live there? ò i o you f l good? so much more coming up on this hour of maumets now. ♪ connell: i wasn't even there. dagen: no indication. ò i ogs are supposed to make you
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happy. food and dogs. dennis: christmas season, the tree over there. dagen: holiday tree. connell: i know. iatollowing up. to start it off at the top of the hour at the stock exchange. nicole: good morning. things are looking down again. the dow and the s&p down four days in our row. we will s what hstapens between now and then, right now, down 56 points, thousand eight thirty-three. and the nasdaq composite down 9 points, a quarter of 1%. the big picture is everybody is moving to the fed. the fed keeper as soon as this month, there is a m ting this month and with economic news,
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better cdc dropped o begin tapering. the s&p 500, apple a new high, can't leave that out. ò i appen: thank you. connell: the movement demanding a $15 an hour wage for fast-food workers which they organize these walk outs and stryes in a ht country and process activities in 100 more.vid lee miller in brooklyn, new york with the latest. what is going on? >> just about half an hour's time the rally is expected to be held here outside the fast-food wendy's behind me. on the str t you can s demonstrators have started to arrive and the netwber of them are wearing orange sweatshirts. i talked to some of the participants in this rally and it appears all the ones in the sweat shirts have nothing to do with the fasellfood industry. they were brought in apparently
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to support demonstrators. the organizers say the workers the organizers say the workers are also here, and we will ta to them in a short time. another rally was held in pidtown,oss00 people turned out. among them, workers at a local mcdonald's, we talked to one of the woumers who has b n a cashier for two years and the deral minimetw w appe is not enough to support his lifestyle, his family and he argues the int apstry can a higher wages. here is some of what he had to 3 ãwh >> ackrge companies can't affor to pay $15 an hour. i worked as a cashier. i know how much i make a. >> the food service industry a15ues todateds event is bweeng orchestrated by special-interest
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groups and unions. the witness -- a litmus test is from our unscientific story, the iatasellfood restaurants we hav visited appear to be up and d lo. ng, business as usual and that iif iides the wendy's behid me where this rally is expected to ttheye packce in half an hou time. connell: thank you, david. our next makest says this fast food strike could just be one big t a partner at the law firm joins us, getting into this a lit she ackct. these psople in the orange sweatshirts are being brought in to the protest. what will be effectiveness be? >> it is going to have minimal e respect to union organizing e as r, gerred to by david, the fact that a number of people in
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the workpackce protests are wearing orange outfit that are not connected to the work force, shows there are a netwber of people planted by unions trying to become more relevant in today's marketplace. connell: is the industry for the unions15utodwe have done storie for years on declining union memalershsw, how will they continue to expand? is this industry somewhere where they can have success? >> it is going to be a challenge for them mainly because the industry itself over the years has been a transient work force. it has b n di commt engaging in corporate campaigns. this is a version of one where
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instead of trying to internal t it with vendors and do it through public pressure means and using social media for purposes of reaching out to these psople. connell: we talked a netwber of times about the economic armakment that the heart of whether higher w appes should ce to be in an industry like this. i am not sure people watch the o gentleman, up sympathize with the idea that what i make, $7 ao hour is not enough to support my family but to go to the next level of the statement which is to save the company i work for, one of these fast food chainuld throm mtheye x amount of money can afford to pay me more, there is a15etwent on the other side f that in terms of profit margins at these companies and if they get paid like that, what will it
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mean for other woumers? what will it mean for job growth? what is your take on that? >> on that point there is no actual rational basis for the t hour, in the normal course over the years people unionvae not so much because of w appes but in e words of aretha franklin, respe to b. that is why psople have unionized. that is the number one reason. t appes have never been the ner one reason why people union -- o15anvae. -todand get 7 to 9, it is crazy out of the question or a
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conference. >> the concept in general, but what is happening across the n:nited states the unions are taking some criticism, the number of states hhis iifreased on their own, the minimetw wage rate, happened over the course of the last no years so that is happening in the legislative front. the unions are not15utodabases r why workers should receive double wage rate. connell: we will follow up with these walkouts and strikes and the t than o for starting us off today. dagen: now to obamacare the wall str iling surprises, more surprises for psople with chronic conditions like hepatitis or even hiv. connell: some packns require a patients to pay 50% of the cost
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of the drugs and dan henninger is with us and the article, details nuance, the piece on obamacare is saying this is a cof1 o you are someone -- you need time to go over it, the web site is not working and highlights what we have b ng about for weeks is di >> if nothing else obamacare is tun ding out to be a lean ding experience, we are learning a lot about health care ins arera. one thing at the wall street journal is reporting today is some of the premietws may be lo in out of pocket expenses if you have arthritis or hepatitiuld could conceiv, wly be very high $5,000 a year and that is becinsse the dd log cof1 o
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negotiated with the insurance companies and pay a premietw, might be a better packn out thee if you have time to research it. if you go on thin. lday e ehealthinsurance you have all these details l hd out for you, i can't ever fo15et the first time barack obama came to talk about the bretheydown of the wf site. he said we are discovering gicang heaand hh ins areraife i cof1 o i thought he is discovering this? after they tried to zyeate this enormous system and the reality is there wfrosite is e v, wle t convey most of this information. dagen: when you talk about the obvious 3 wer ase obnowledged problems with the law, whether thketr ree nirement for coverag that cause people to lose their insuraiftis two exaf1 o people on the l, gt talk about t as if you are making it.
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like ae ithing wrong with the lt is made up, i can't help but wonder as cof1 o t hat do we dinot 3 wer about it when the employer mandate kicks in a year ly om now? the vast majority of people in this country have ins areraife impa to bed by the flock? >> you put your finger on something. a b t of psople have come to this experience, not really about pisliticuld it is heaand ins areraife. as you said the president signed ãof t- thereyour an ideislogica ovomponent. some of these prices for young people, premietws have to be higher so those premiums can subsidize and have other psople in the system. that is an ideological component. t e ldw this last webam that millennials are turning against obamacare. i don't want to be in ae i oney ideological battle. i want to pay more for pisliticl
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rea% cnsremo cf1 o that is turning people off. dagen: it was sold as a way to fix heaand hh insurance for tho people who didn't have it. it really wasn't gwhong to chane the landscape for most people in this country who have insurance and we are finding out sb wly but surely that is not the case and i wonder a couple ber ofarsm now how much does the landscape look for the whole nation? >> the majority of psople are saying how am i getting this? i tholk ht this was , wout the e vinsured and my plan has been cancelled because it doebam 't cof1 o requirement and you have to pay more sow your high premietws ca ovross subsidize other people somewhere else in america and i think people are putting up their hands and saying i don't want to do this. ovonnell: thank you for coming in. i was going to see whether15u-
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don't know if you ldid it or not, more people said i don't think this can ever woum. are you there yet? >> the consumer going into the we>> yite can access and interfe but the back end, the part where the information gwlys to the ins areraife company and medica and medicaid, protecting that oming it in a way that is accurate gives psople a pi to burtis i don't t throm can do that. dagen: the journal another article reporting on the medicaid enrollment because of that very thing. thank you so much. need a christmas tree? for today only. ovonnell: a great transition. very simple. get a christmas tree. get hstapy, america. thaet out of t instagram so the happiest places to live and there is one states
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that has two very happy cities in one state. d appen: good ndoes is not good news for the stock market. big netwbers on the econosca, g icarowth, the adb report on employment creation, market doesn't lday e it. t e will tell you coming up and look at how oil is fairing. so ally bank has a raise your rate cd that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that?
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a retailer, also up 56% in the latest earnings report in late november, they talk about sales in asia which upset the softness in the states but you do have conviction up from neutral yesterday, jpmorgan raised their target, they have a neutral rating. a quick look at other luxury brands, down arrows lower, worth noting that as the holiday season approaches and a lot of commercial items on board for a lot of other retailers the luxury may be a different picture and they are battling it out. connell: it is this season to buy christmas trees you would think. tree sales for the holiday are at a pace that we haven't seen in years. people are buying trees like crazy but if you don't have time to buy yourself one, the cone service act everyone is talking
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about is bringing christmas to you, partner up with home depot to bring the trees to users so you use the apps to do it that way, ten cities across the country have it, $135 to get a free, stand, christmas gift, blackberry limited. seems like a good idea. dagen: incredible application of technology. and talking about technology you can learn a lot about people from their instagrams, what they ate for dinner and they are analyzing how happy people seem based on their instagram phone 0s. the happiest sitting in the united states is st. louis, missouri. a lot of smiling faces. another city in missouri, kansas city, followed by ohio, indianapolis, pittsburgh, new york, los angeles, we will show
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>> 24 minutes past the hour, i am jamie colby, this is your fox news minute. hazardous air pollution forced schools to shut or suspend activities in two eastern chinese cities. people with heart and respiratory conditions have been warned to stay indoors. the build up cause the combination of staggering conditions and outside temperatures. smoke condition at an arena in mexico city has forced the cancellation of the end game between the san antonio spurs and minnesota timber wolves. a generator outside the building
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functions smoke into the arena. the game will be made up in arizona at a later date. the appearance on tonight's espn sports center had to be cancelled due to serious news, potential development in the investigation, allegations against a florida state quarterback, those are your news headlines on the fox business network. i am jamie colby. back to dagen mcdowell and connell mcshane. dagen: thank you so much. connell: charles payne is here. communication is key and communication equipment companies. charles: so much money on transportation of information and they survived, we talk about communications, i just think the stock is so cheap, give an
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example, this improve the 43.6% to 42.5, thirty-nine% year earlier, 8%, 2% year over year, i don't think is factored into the stock get and they had contracts in south africa, cablevision or argentina, scotland and denmark and growing up in this country, -- a small concern for me, people look at these companies have two giant customers, 30% of revenue, pick up those guys on the company. we will pull back a little bit. i am looking for names and extraordinary numbers and growing the market. dagen: will we talk about this later in this half-hour? get the economy strong enough, wringing hands over federal
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reserve losses? charles: we are making the transition to a faster economy, the period when you hand the fed driven rally to the economy, weeks or months, and the bias will be to the downside. dagen: the fourth. and football. a missed call last week. and new technology on the field for the nfl. connell: cold weather driving that energy, we will have the forecast and latest on the market impact coming up as we continue on markets now. no one is talking about a down market but here are some winners on the s&p 500.
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dagen: this is what is coming up on the next half-hour of new technology that can help nfl officials and change the game looks, potentially. leading the charge as energy prices react to the bitter cold in thin the midwest. and not great news for stocks. we will dig into that even further. and a 1% on your christmas list who loves coffee? they gift for them. in short supply this year than
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even last. nicole: that is right. this will be hot demand item. seems somewhat irrational to some and for others it seems like the best gift ever. let's dive into this and talk about what we're speaking of. starbucks making limited-edition metal gift card. here to explain, they made 5000 of these. this year they will be making 1000. they will be preloaded with $400. you are obviously paying a premium. starbucks has outpaced dunkin' donuts and mcdonald's. back to you. dagen: thank you, nicole. dagen: checking in the sports business, did he make the first down or not in the debate we have just about every football game at some point.
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the giants-redskins game recently many fans are now calling for an upgrade. a poll out from the denver post, nearly 65% of fans believing the nfl should upgrade their technology. that solution would be lasers. dagen: gentlemen, grrat to see both of you. all the way down there in miami. talk about your potential discussion with the nfl, how close they could be to implementing your technology. >> we can only speak for ourselves, they pretty much have a brand worth billions of dollars. they are in a due diligence
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stage right now. connell: maybe you start somewhere else. going up to canada or wherever it is to get this technology implemented, how do you explain what it does with mark we have all watched the games with the television networks put on a yellow line. but they don't see it, they're just looking at the stick on the sideline. how does your technology actually work? >> we project a line on the field the fans in the stadium can see, which would increase their enjoyment of the game. we can put a projector in the sticks as h you can see in animation. we can put the projectors the top of the stadium that can project down, it can become the official line on the field and
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everybody in the stadium, players, coaches, tv cameras would be able to see it. dagen: what other sports leagues or even spprts organizations you could go to with this technology before the nfl. it is already in use in ncaa track and field. >> correct. we did the championships for the university of oregon. it was a huge success. the athletes loved it, it was a huge success. connell: what other sporting events could have locations that would use this? first to you and then maybe richard. anybody at fox sports when they came up with the hockey puck deal it did not work out much
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but many of these innovations have, now you're taking it to the next level. could it be used in just about any sport? where else is it being used? >> basically a place lasers could be used on a playing field. we're looking at nascar, putting it on the top of the car, we would project the number that would lock into each car, to tell people what position they are in the race. a lot of applications we could use it for. dagen: is it only sports? are there other potential applications outside of athletics? >> we have really been focusing on sports. another sport was soccer, the laser line would show where the offsides line is. it keeps moving depending on
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where the last defender is. we can have the laser follow the latest defender cinema where he moves the line can be projected on the field we had connell: i'm going to be buying one. we like it in terms of the technology and innovation. making money, how is that going? >> it is going slowly. we have had meetings with different leagues, we have been refining our product. example of monday night with a real cry to have more accuracy in the game and not have the game turn on what certainly was a close, critical decision and probably a wrong decision. that is the point we make for the enjoyment beyond the replay.
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the players can use it, i can ct down on injuries, the ball carrier doesn't have to look to the sidelines to see where the stakes are, he can look straight ahead without getting line decided. connell: heavy had any talks? >> were going to have a demo set next few months on it. connell: give us a call and tell us how it goes that works up in canada. dagen: i was distracted by the vision of you with a laser pointer. let's talk about the latest economic numbers, we will look at those. peter barnes has that news in the business update and we will have those numbers and the direction of the market as well.
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connell: the cold increases the need for heat, what it means. the impact of that as we continue, keep it here. ya know, with new fedex one rate you c fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. try align. it's the number one ge recommended probiotic
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peter: i'm peter barnes via fox business brief. itthis economy grew in the third quarter fastest pace since 2012 as invest in inventory the product we had the second reading of the gross domestic product came in from initial reading of 3.6% up from the initial reading of 2.8%. economist looking to come in at 3%. weekly jobless claims tumbled from last week. filing first-time jobless benefits coming in below the estimate. tomorrow we will get the big monthly job reports number four november. factory orders for factory goods dropped by nine tenths of a percent in october after 1.8% in september. demand for capital goods weakening the forecast for 1% decline. that is the latest from the fox business network.
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dagen: we have good news on the economy this morning. gross domestic product, or economy grew at an annualized rate in the third quarter only to find out the number of americans filing for unemployment benefits fell below 300,000, much more than expected. why is the market down? mortgage investment officer joining us now. first off, do you believe the economy is in fairly decent shape as suggested by the numbers this morning? >> no. you can argue the glass is half-empty or half-full. if you look at the provisions a lot of the inventories building up, if you look at the black friday sales, disappointing shopping season. now as we have some good
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numbers, not everything is so perfect after all. i would not be surprised at all, the market will be selling up. going up with all the complacency we have around. don't count on your stocks going up at the same time. dagen: do you think even if the economy is just okay, the federal reserve would be accommodative? >> they will let inflation come out in little bit indeed we are very lucky. we can't afford the positive rate. yellen is not in office yet. there is going to be the market trading down based on having no
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leadership seeing things get into round. we do have complacency in the market. the market has moved higher and higher. i would be very concerned no matter what. dagen: it doesn't just reappear. >> of course it does. people thought it was risky to reduce the leverage the you have to pull out of stocks so it can have been very, very easily. if you look at gold, for example, one of the most hatedd% things right now. dagen: the pullback in the stock market was based on how the musical chairs ended for mortgage origination and
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eventually the market peaked a few months later but you had a bunch of the lenders going out of business. very real tangible things 2.2. they omes back your 2.2 real-world happening. >> the market is driven by technical. people give themselves up. so when it is risky, you have to be leverage and you can go bust. today we are encouraged to put money in the stock market. the world isn't perfect. they're going to point that out in the market will take a nosedive.
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dagen: thank you, axel, it is good to talk to you as always. connell: so the freezing temperatures sweeping across the midwest. down by 30 in some areas. in minnesota getting hammered. in the dallas fort worth area. in texas because it is so cold. coming along with the snow, sleet and rain. dagen: cold temperatures are helping natural gas prices. you want more on that with the economic impact. sandra. sandra: it is cold outside. cold in chicago, cold in new york. 39% of households in the united states use natural gas to heat their home. you are paying a lot more than you were at the beginning of 2013 to heat your home.
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prices up 21%, up another 3% today. all kinds of forecast over the next couple of weeks. we got a major inventory report, something we have never seen before, guys. this is the biggest draw down for the month of november in natural gas supplies. let's take a look at natural gas. we are expected to see about 9 degrees in chicago, colder temperatures in new york the next couple of weeks. connell: this is some story. we have this, the fed charging 49 people, russian diplomats or the spouse of a russian diplomat for scamming the government over a medicaid fraud scheme.
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dagen: rich edson on this story. rich: u.s. attorneys in manhattan said russian diplomats and the spouses lied about their income to receive health benefits for the u.s. government and engage in falsified applications. in total investigation uncovered approximately $1.5 billion in the medicaid benefits. while receiving those benefits they made purchases of boxes, jewelry, nonessential items. many stores including bloomingdale's, tiffany's and others. the attorne attorney general foe southern district of new york held a press conference. say this likely the state department will have a conversation about this as the
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relations between the two continue to be strained eye number of issues. connell: that is true. stay safe. dagen: out with emerald. the outfit on once known for the color matching system has announced radiant orchid. pantone color number 18-3224. expect to see it on everything from lipstick too shabby. looking to pantone to set the color. it blooms confidence and warmth. pantone is basically numbering all colors, it sounds like if you are a designer or a painter,
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you want a specific color, you have the pantone number. connell: moving along, specialty burgers on the market. maybe enough room for some new entries. coming up on "markets now."
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connell: one of the big stories today, the gdp numbers to the upside much stronger than economists expected. dagen: a restaurant operator tapping into the $2.5 billion. jeff flock live in illinois. jeff: always like to make the gdp numbers, live and can you
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smell the burgers? oh, boy, tell you, maybe earry, but had to get the tape for the man who started this. the entry into the better burger, casual space. thank you so much for that. potbelly, boston market, einstein's. how did the gdp numbers, take it to main street. how do they do? >> it is encouraging to hear the numbers are up. it feels consumer sentiment is rather cautious they tend to follow results and we're going to see consumer sentiment. jeff: if you are invested in chipotle five years ago you
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would have a couple your money. this space has just been expanding. what made you do that? >> is a real opportunity and food service improve quality of food and experience from a fast food perspective, at the same token people may be are not willing to spend dollars for the full experience. taking opportunity from the perspective in a restaurant like this. jeff: beautiful space in here. connell: jeff flock. dagen: i don't want to eat at a place with the word fat in the name of it. could be looking at higher cost.
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connell: a protest over the minimum wage and the involvement.round the country and you will see it coming up next. r ] once, there was a man who found a magic seashell. it toldim what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being get live squawks right in your trading platform with think or swim from td ameritrade.
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president obama: what drives me as a son, grandson, father, and american is to make sure every hard-working optimistic kid in america takes the same incredible chance this country gave me. does the driving force in everything we have done this past five years. that is where you should expect my administration to focus all our efforts. the speedennis: president obamag it about himself again. dennis kneale and cheryl casone take you through the next hour of "markets now."
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unions a spotlight, protesters demanding better wages, collective bargaining but is it out of control? americans with chronic illness looking at soaring drug cost. all this and more on the next hour of "markets now." well here is a way to solve the economic problems, double or triple the economic wage. cheryl: bankrupt a few companies. dennis: let's go to stocks now every 15 minutes. nicole petallides, stocks are extending a losing streak and 25th straight day. apple one bright spot. nicole: four days of selling, it is the best we've had act and forth action, a market trading
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at a fairly narrow range. anything can happen in the next four hours. a loss of one quarter of 1% down 34 points. some of the names on the move, microsoft, jpmorgan, intel, home depot, bowling. apple hitting new record highs today, this is on the news car l icahn continues to pressure apple looking for a buyback, maybe more like 50 billion killing "time" magazine he is talking with tim cook and did so november 21 in a 20 minute phone call. dennis: thank you very much, nicole. cheryl: today fast food workers and 100 cities across the country are demanding a $15 per hour wage and a right to unionize.
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in brooklyn, new york, with the latest conditions. >> over the last half hour demonstration taking place outside the fast food restaurant behind me a few moments ago, the demonstrate left the scene. things got very tense, number of demonstrators tried to force their way into the restaurant, the restaurant hiring a security guard and apparently the demonstrators held their rally outside. throughout the morning the restaurant conducting business as usual. many critics have argued the overwhelming majority of the demonstrators taking partisan rallies are not fast food workers but really central interest groups and union members. saying the fast food worker turnout today is not the issue.
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>> million of people supporting them. it is not unreasonable for a lot of people in the outside. the workers themselves are fiercely in favor of it. >> you're arguing to me. >> it is a great thing. >> similar demonstration taking place including washington, d.c., where we are told federally contracted workers have walked off their jobs. the national restaurant association says only 5% of workers are earning the federal minimum wage and they argue the demands put on them by obamacare, raising the minimum wage could cost jobs according to one study nearly half a million jobs could be lost and the lobbying group says raising the minimum wage is an unreasonable demand. >> you can't just translate your
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need for more money onto every business and say i have three kids to feed. that is not how the compensation system works in this country. >> the bottom line here for the most part is it appears most fast food restaurants are not conducting business as usual. only a small number of fast food workers have in fact walked off the job. cheryl: these demonstrations are amazing across the country. david, thank you. dennis: instigating this fast food push behind the fights from california to illinois. are the unions out of control in america? here to weigh in, fox news. let's start with you, a study saying they increased fast food wages to $15 per hour, even justin fast food losing half a
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million jobs. >> that is right. that is 107% jump. i have even seen liberal economists willing to defend that. the same people who would have been telling us it was a great way to run an auto company. it is not serious. they're not even willing to defend the agency strikes anymore. i think at the end of the day it is fair to say another corporate campaign in the sky trying to demonize and industry. dennis: if the group is right it would cut half a million jobs, are you willing or more people to be out of work? >> it does not have to be $15, you don't have to double it.
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half the people on assistance in fast food workers are on assistance costing $7 billion per year. they're getting assistance anyways. dennis: why not just go and get a better job? >> you say it like it is easy to get a better job. >> aren't we going to incentivize not to bother getting a better job? >> you're going to see what happened at the locations for the minimum wages, check out places on the computer. the study he is referencing, the think tank on the labor sector.
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we can either provide partial support, or subsidy raising the minimum wage and they cannot find work anymore. that is an unrealistic alternative. they are being subsidized anyway because some of them are being put on food stamps. you have to do something about it. now illinois. aren't the unions with deficit down and negotiate? >> maybe at some point. dennis: we do it in the private sector all the time, why can't you? >> this idea government workers are uncomfortable, but yet all activity.
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>> it is ridiculous. these people deserve what they were told they would get. >> it is a lot more antigovernment. dennis: you're a good sport. the congressional bill in illinois, you'll hear from the guy who could be the next governor in illinois. talk was tracy byrnes and ashley webster at 2:00 p.m. cheryl: "wall street journal" reporting americans with chronic illnesses might also be big losers with higher out-of-pocket drug cost. joining us to talk about how it will affect the pocketbook, it is great to have you on the program. the journal found the biggest issue here is the still had to
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sign up for the plan before they will tell you what your benefits are going to be. how are we supposed to know what it will be? >> they are very tough, especially where lots of sick people are opting into the exchanges premiums may be lower. they will have a tough time figuring out how much will cost them. typically can be brand or specialty drug people paying for their own individual responsibility. what is almost impossible or very difficult for consumers to figure out when they go to and the exchanges is what plans are available and what drugs are in the form of various for the plans they are picking. we end up with a lot of sick people who think they will get the drugs they need or find out
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they have to pay a lot more to keep those drugs. cheryl: take the hiv drug, for example. the retail cost is $2200 per month. now if you go to cigna for example you will pay more than $1000 per month for that drug. humana also 800 million health care $55 per month. this information is not getting through to these consumers, are they going to have to figure out what information will get to the consumer, will they be liable to lawsuits if they start to sue because they were misinformed? >> it will be complicated because they do have a responsibility ultimately providing information about the plan, but here's the catch 22 and that example you just asked. you will prepare those based on
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that which is covered by basic plan. but you're also going to have to superimpose on that if your doctors are covered with those plans. suppose you a situation where your doctor in one plan but the drugs are not covered by the plan. it is very complicated in terms of the consumer is left with because even with the employer market it is a very collocated decision and often times they don't understand the amount of the individual responsibility and what happens. cheryl: may have to be uncertain treatments. that is going to be broken. thank you very much for joining us. >> thank you, appreciate it. dennis: the president narrowing income equality.
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tell me what you think. cheryl: bundle up. an ice storm, we will tell you where it is headed next. [ male announcer ] here's a question for you:
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cheryl: the dow down by 14 points. try not to make this another day of down numbers. i want to take a look at a center between now and new year's eve. that is the retail sector. nicole petallides on the new york stock exchange. two specific retail names were watching right now. >> take a look at some of these names on the move. start off by looking at kohls.
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the stock is up over 1%. also worth noting kohls says they will be open around the clock 24 hours from december 20 through christmas. how about dollar general? coming out with better-than-expected numbers, 14% earnings, that is some good news. they did well with perishables, things you consume rather than the other areas. they did very well. act to you. cheryl: good to see you. dennis: what is bugging me is our president's next obsession. a rousing speech yesterday he vowed to devote the rest of his presidency to this and you can see the sleight-of-hand from the cheat sheet.
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he fixates on passing obamacare. it was the crisis, and now it is the wealth gap. the president says he takes it personally. the fixes you propose are the wrong ones. more regulations and nearly 40% increase in the minimum wage. johnson declared a war on poverty, federal spending u up 11,000%, up 110 fold. as a percentage of the budget quadruple to 16%. and for all those billions it has gone down three full percentage points. it would fix poverty if on the government would get out of the way. should our president stop worrying and focus on fixing
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obamacare? cheryl: some good news for the economy, but bad news, we will break down all the major data coming out and what you need to know. dennis: a storm coming, the latest from the weather center next. so i can reach ally bank 24/7, but there are no branches? 24/7. i'm sorry, i'm just really reluctanto try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water. it's a long story.
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cheryl: a deep freeze across the midwest with temperatures dipping two minus 30 degrees in some parts, and the cold front in the northeast. chief meteorologist with the very latest. >> it will eventually get across the east but it is a slow mover. take a look at denver, these are high temperatures right here. through the next five days high temperature does not get out of the teens. the cold is there in the overnight lows right around zero all the way into monday. you can see where the big delineation is on this cold front. 36 in dallas, you will remain in
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the 30s or under for the next five days and that is very cold for that far south. feels like minus 37 in montann, minus 20 in wyoming, the cold air is there. moisture coming down from the south and a big problem here, some snow, and also freezing rain. all kind of advisories in texas, new mexico and where you see the purple i think the biggest concern likely looking at a big ice storm over half an inch of icing across the roads and any other street surface. a power outage toward tomorrow morning or tomorrow afternoon. cheryl: thank you. >> you bet. dennis: time to make money with charles payne. we headed over to grace and look at the shipping industry. nothing like a descriptive name. charles: it is really starting
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to come on. the reflection of the global economy. pmi numbers all over the world this week. modest gains, but the trends are positive. i don't know if you remember when this space was really hot, this hit $110 per share. $110 per share. the biggest pullback back over $100 per share. ended 11,700. this stock has been down more in that same time. not necessarily doubled, but certainly moving higher. pulled back, the next stop 393. the fundamentals were there. 2014 will be a big year. they have deep oil platforms and 10 tankers. what killed it was they
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overspent. these big ships. they hold 200,000 deadweight ton. you could put this whole building on them. all of that now may be behind them and this could be a huge winner. cheryl: the market will come back. charles: it is a reflection out of america. building up and building up. dennis: thank you very much, charles. cheryl: cracking down on e-cigarettes. two cities have now banned smoking in public. regulation is on the way. details coming up in the "west coast minute." dennis: banks facing stiffer regulation. if you own a financial stock, listen up, new rules that may
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is bad news for your investment. we will break it down for you. more regulation coming could affect your portfolio and a new attack rat, your car, calling cardmakers on the carpet for cybersecurity. details coming. every 15 minutes, let's get to the stock exchange and nicole petallides. red arrows still coming.
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nicole: there is movement picking up at this moment. it is down 26 points but let's look at some names, watching j.c. penney which is a loser today and over the last three month and year-to-date up 50%. the latest is j.c. penney's numbers, whether or not they will actually need funding in 2014. twitter getting a pop, 4550, gaining lows in november. microsoft expect one sale but action believe this is the news that alan mulally may not be coming over. those of our winners are on news offering testimony for batteries with the commercial solar system and a great day today.
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back to you. tracy: adding to fears of fed capering, joining me is a chief u.s. economist and giggled big financial service president oliver porche. you think the good news we got today was better, does that mean this is bad news for investors and the fed caper will be sooner than we thing? >> it suggests all of what we have seen in terms of the good and the equity market is because of tapering. i have not been a particularly strong equity market born, a lot of what is happening in the equity market is in part because of fundamentals. in 2014, better economic activity in 2014, make sure everyone on the system, i have not been a strong bull either.
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2.4% growth, what we are experiencing. these are separate conversations, make no mistake. we have been clear about this. economic activity in the united states, 1/2% increase activity, what we just came out of. cheryl: what do you say? a stronger2014? >> high single digits by 25%. when we take another 10 or 11%, very possible, corporate earnings continue to grow because the u.s. economy will global economy continues to grow. cheryl: they can't cut any more.
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and productivity. >> you will start seeing revenue increases, and the economy as a whole, earnings by cutting and creating more. and increase third quarter gdp is an anomaly, and as a whole you take that and say things wwll get better, more products gets old and services rendered in 2014. cheryl: the bigger question for the markets, we are down a few points. and to make that -- >> a string of economic data don't have a string, one or two data points at best. today's data there's a caveat for each of those points, and
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because of the thanksgiving holiday associated with that. we are far away from actual tapering, december and january, the problem in january a transition period. and it is where it goes. >> march bite be a little early. they want to telegraph any move, the biggest fool is forward guidance. so you see them talk about capering and talk about capering more and more before they do it so i would expect them to have three or four different fomc minutes, increased likelihood of taping.
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cheryl: there's more and more discord about fomc members, discords this month to give the market in march and if so i'm assuming it is negative market reaction. >> here is what i would say. if you want to call it that, thinking on the contour of the economy. when it comes to capering i don't think there's any question that every single member, we will start that process, every one wants to start that. how do we gauge the market, the discussion within the fed is revolving around and we didn't take grand how do we ease the market into it. >> i would add capering is a positive. will happen because the economy has improved enough, gave medicine away. that is a good thing.
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not a bad thing. cheryl: easy money will happen at some point. thank you very much. >> thank you. >> if you own a bank stocks, and adjusted checking accounts, pay attention to the latest on novel rule and how it will affect your investment. liz macdonald joins us with more. liz: if banks can't make profits off of proprietary trading which the full rule will restrict including portfolio hedging, pass along with a loss of profitmaking activity, even on to state bond issuances, a california state treasurer, the bond costs can go up. talking about global core will could come down, a meeting -- here's what jack lew had to say. >> with completion of the volcker rule resolution
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authority, stronger capital reporting requirements the tools of financial reform being used to make the financial system safer and hold financial institutions responsible for bearing their own risk. and the london whale. cheryl: relieve the law said it really authored the direction of the volcker rule for proprietary trading to hedge portfolios in the cross hairs. that is what banks don't like. a report says we still want to hedge losses and portfolios. the bank's most at risk, goldman sachs, jpmorgan, bank of america and citigroup watch volatility in those stocks and track the developing story again. the rules are voted on by the sec on december 10th. time for your west coast minute. to california cities are banning
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smoking, and more regulations are on the way. richmond city council voted for parks, restaurants and other areas. google is under investigation by california state agency over construction of a barge in san francisco bay. the agency which opened last week looking into whether google and the owners are on treasure island, the permits needed to build the thing. down $2.20. and hawaii is getting ready to host its most famous hometown son, state news panel quote in hawaii. and on december 20th, through jan. fifth, the first family rented a home on the eastern side of oahu. no itinerary released by the
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white house. the rest is next. >> cyberthreat, automakers about their vehicle's vulnerabilities. cheryl: looking to give the most vulnerable theaters and a chance of systems, plans for a new stock offering coming the. as we go to break take a look at a fascinating thing to watch, the ten year treasury a two basis points again today. as a business owner, i'm constantly putting out fires. i deserve a small business credit card with azing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card
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>> your fox business brief, the u.s. economy grew at the fastest pace since early 2012 for the second reading on gross domestic product. economists were looking for them to come in at 3%. weekly jobless claims tumbled by 23,000 last week, 298,000 people filed for jobless benefits coming in below the estimate of 325,000, a big jobs report for november. atlanta fed president dennis lockhart said capering $80 monthly on monthly bond buying program quantitative easing will be considered at fed meetings
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from dallas fed president richard fisher. that is the latest from the fox business network giving you the power to prosper.
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dennis: the newest cyberthreat aimed at your car. this study on capitol hill, u.s. senator ed martin resurging, able to hack into cars to manipulate breaks and step on the gas, and proving whether the company is on their vehicle's vulnerability and what he is doing about it and major applications. and cybersecurity brian fitch under this. and governments stepping into anticipated problem where no problem exists and have yet
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found any incidents of a hacker breaking into a car? hurting somebody, no. >> automobile industry is a target of cyberattacks for intellectual property. dennis: what could hacker care about getting in my car? >> if you are an individual of interest and they want to track you and know what you are doing for business purposes, the chinese version, or are there ways to activate vehicle controls and take command of your phone, download information, it is another method of economic espionage. dennis: are you worried about a risk of well-meaning calls public attention to a thing like this, inviting hackers to give it a try? >> that is the possibility bleated delicate balance if the industry isn't paying attention,
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a letter that may force him into action but if there is no problem and give somebody an idea about vulnerability that is an issue as well. there isn't much interest going against cars. and not going to get that by controlling bakes -- breaks when they are tested. the security is tight, if carmakers thought about cyber is to the security tight on their cars. from what i understand they are thinking about it. one of the issues, where the problem is. most automobiles are computer oriented. getting better safety thanks to computers, something in the inherent risk to protect the ip to make sure nobody can break-in but like anything else at the end of the day nothing is secure. you can make it more secure, is
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an ongoing battle for the automobile industry, taking care of one thread, what is the next thing to look out for. dennis: two fifteen million cars on the road and focusing on fifteen million new cars sold every year, focus on cop cars and fbi cars. >> exactly right. they have secure networks but that is a valid point. government vehicles who have an issue with respect to information being taken out or monitoring the location even if somebody wants to do something individually or tech savvy, the phenomenon out there. dennis: candor to the individual consumer, nothing homeowner can do about this hacker threat, is there? >> at the end of the day unless you go to the back of the automobile magazine, some sort of data on after market, cybersecurity device do that, the friend of mine right now it is really bad for the consumer
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and you have to ask the individual dealer with the cybersecurity control in place. >> nobody cares about hacking. no one cares about me either. cheryl: milk on the moon, that is what john boehner says in the months -- how is the contract doing? their back down today because of the showdown pushed down the road. everybody remembers the report, we see the price of milk doubled. $8 a gallon. that is incredible and since the time for the new year, and food stamps program by extending this it is going to give the consumer is a good thing. it doesn't go through, basically
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-- and hurt the market for the no run. if you need that, a lot more expensive. cheryl: a morass of regulation. thank you very much. suspects >> almost friday. media minute. what about stock with that. the second largest theater chain, a new stock offering east itself directly to customer loyalty, two million fans, twelve dollars a year, members of stuff, not amc promises to on a piece of the action at the same price, it is far longer than regular investors in bad times. paul walker, associated press,
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apologizing for utley from active in diesel because he never said it. a fake account put out the bogus call, the sentiment rocks. anthony wiener back from the dead yet again, the fearless tweeter distressed congressman gerald -- field a candidate to host a new prime-time talk show. on radio at least wiener can't tweak his, you know. should president obama stop worrying about health care and talk about fixing obamacare? your responses next. cheryl: we want to look at the running names on the nasdaq. there you go. be right back. (announcer) scottrade knows our clients trade and invest their own way.
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cheryl: to the president's stop worrying about the wealth gap and focus on fixing obamacare? fixing the obamacare, the affordable health care law is completed, fixing the economy would take care of the wealth gap and obamacare. james says the stock obamacares into the country is more important, distribution is not an answer and how we says you need minimum wage higher so young and healthy can pay for obamacare premiums. cheryl: christmas on demand, park service apps co. making users in ten select states across the country.
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the cost is $135, and a christmas gift, the service is for today only. supplies will be limited. analysts say christmas tree sales for the holiday are saying at the strongest pace in years. dennis: what kind of tree will carry that thing? all right. five years ago marilyn shareholders approve the takeover by bank of america and smith jr. former chairman of merrill lynch international coming up with his take on the company's downfall. cheryl: unwanted line. is there is such a thing? i do think there is such a thing. adam and i will introduce you to the man by the brands that bottles once is left over by some of the best figures. every day we're working to be an even better company -
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and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. yep. got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt na? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. and this park is the inside of your body. see the ecial psylliumiber in metamucil actually gels to trap some carb to help maintain healthy blood sugar levs. metucil. 3 amazing benefits in 1 super fiber.
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adam: i am adam shapiro. cheryl: i am cheryl casone. apple through the great wall, reported the icelandmaker's deal that opens the door on the market. adam: make or break time for the big banks on wall street. more regulation coming soon, the most dramatic change since the financial crisis, the regulators, we will talk with merrill lynch, the iconic whales that has nothing to do with jpmorgan. and winning over shoppers with trademark logo. cheryl: we will kick off your wish list. you will only see this here. adam: you may need an extra layer of clothing, heavy snow and strong wind, temperatures and where they are headed next.
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more positive news on the economy, lower on the statement that the fed will real in the stimulus. nicole petallides on the floor of the stock exchange on track for a fifth day of declines. nicole: we come off of the lurch and worth noting technology stocks, and attack have been nasdaq moved into the green moments ago for the nasdaq. up four points at 2,049. the s&p and the dow have down arrows. 15,823, and the loss is just 24 points. keeping an eye on the fear index, some strength in retailers, and what the fed will


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