tv Markets Now FOX Business December 6, 2013 1:00pm-3:01pm EST
adam: snow, sleet and ice. a winter storm sweeping across the country causing traffic trouble on the street and in the skies. we are tracking the path from the fox weather center. cheryl: scrambling the egg industry. wanting people to rethink the incredible edible egg. we are interested with the cofounder coming up. adam: and better-than-expected jobs report. a lot of people saying it was a terrific jobs report. but the floor of the new york stock exchange, find out what the dow and s&p are looking at doing on the five-day losing streak. nicole: it was a good jobs report, jobs were added. the labor participation rate improving some. it could be going the right direction, that obviously is good news for americans who need jobs and we want jobs if they want them. dow jones industrials up 180 points resting at 16,000.
we have snapped the recent losing streak, there is the one week chart. we have traded down every single day since last friday, all down arrows. the question was whether or not this week we would snap the recent winning streak. 16,086 would be our threshold to watch for the closing bell. we will see if we get past that. maybe tough. the vix is pulling back after a four-day low. what we have been seeing today. 2.87%. back to you. adam: see you in 15 minutes we had cheryl: the jobs report a big catalyst this morning. peter barnes to break down the numbers for us and the highlights, the participation rate seemed to be the big change, peter. peter: that is right. one reason we saw the unemployment rate drop, such a surprise from 7.3% in october to
7% in november. and of course the other part was just plain old job creation. nonfarm payroll surveyed 200,000 jobs added in november, expectation was 180,000, so both of these numbers coming in better than expected. and part of it is not just because, a big part of this for the unemployment rate coming down was the return of the federal workers furloughed during the government shut down about 400,000 of them back on the payrolls in the separate surveys helping to drive things down but we also saw more people returning to the workforce and more people not federal workers saying they have found work in november, so that helped take the unemployment rate down significantly of course the big question now is what does this mean for the federal reserve? chicago fed president charlie
evans in an interview with reuters today said he is still concerned about this low labor participation rate. it went from 62.8% in october which was about a 30 or 40 year low, inched back up to 63% again because more people coming into the workforce. but he said the jobless rate itself overstates the improvements in the labor market. he is open-minded on when tapering should begin but he wants to have confidence the labor market improvement is sustainable. he wants more evidence this is going to continue before he votes for tapering. cheryl: peter, thank you. adam: is this better-than-expected jobs report strong enough for the fed to begin scaling back the bond purchases? we want to bring in michel
gerard, chief economist at idf. a lot of people are written that question today. you say not yet, not until at least what, march? >> very much like peter said, many want more evidence the economy is indeed strong enough that they feel comfortable to pull back a bit because the last thing they want to do is pull back and have to reverse course. they stop asset purchases twice before only to come back in again. they don't want that to happen. december is a tough time to start tapering. a lot of people are on vacation, the market is very thin. the last thing they would want to do is potentially make a move leading to an exaggerated reaction in the bond market because again you have this. it will be a 2014 story.
cheryladam: why not the january meeting? is that too soon? speak a lot of people have turned their forecast focus to . you don't have it press conference afterwards. you can always announce the decision to start doing press conferences after every meeting and that would put january into play. between the leadership transition, the fact they will not be doing new forecasts. we are looking for a very weak fourth-quarter gdp number. could only be half to 1%. adam: let me play devil's advocate. gdp in the last quarter actually revised up. this job report we have, we saw the adp report better than people expected and i will use two numbers actually i would use if i was arguing and disagreeing with you.
in manufacturing from 40.9-41 hours. the productivity by keeping people unemployed will not be there much longer. people have to get hired. doesn't that indicate a higher gdp? >> you are right. the only thing is 3.6% gain in the third quarter, and a half of it or more than half with inventory and that is going to reverse in the fourth quarter so between that reversal and the shut down, is going to get the low gdp. what you should be doing is averaging the two quarters together, you come up with a number close to that trend but optically it will be hard to have the fed paper and while they're talking about a decision to taper, we get news the gdp looked awful. that is tough. adam: why do you say march as opposed to june.
give a couple of meetings to get ready for the questions and the explanation, wouldn't that make our sense toward the summer? >> it would. but if the economy continues to show resilience, and then if they have the press conference, doing their forecasts, 2014 numbers look to be on target, you could have five or six months of balance sheet expansion. i think at that point at the very least want to shift the policy mix. but even so much it is strong enough to need less support, it is how they're going to provide that support. more focus on forward communication telling people interest rates will not be raised for a long come a long time. adam: to despite interest rates to go up for at least a year, right? >> that is the one message the fed wants you to take away. adam: tell that to people trying to lose weight. all the best to you.
cheryl: take a look at shares of jc penney. after the company disclosed the sec is probing $800 million stock offering which occurred in september. an attempt to sure up cash position. they saw the sale as a sign of weakness. the sec wants information on the offering and the company's current liquidity level. adam: sticking with retail, shares of sears holding our up after the company announced it is pinning off the business. sears controlled by billionaire investor edward lambert. distributing all of its shares and the company has been struggling for years closing 300 retail stores back in 2010. cheryl: los angeles is ramping up the mortgage fight taking citigroup and wells fargo to court. the city alleges the banks engaged in mortgage
discrimination that led to a high number of foreclosures in minority communities. they initially mixed mortgages in minority neighborhoods. but targeted the same people for predatory loans. the news today not affecting the stock. again, we are sitting near the accession highs for the market. adam: winter weather hitting people in the southwest to the northeast. i look at where the ice storm is heading. cheryl: the man-made weather . china facing record smog levels. forcing planes to stay on the ground. adam: and buying holiday gifts. the online home furnishing retailer watching record sales on cyber monday this year. we will talk to the company's ceo in the latest installment of "your wish list." every day we're working be an even better company -
and to keep our commitments. and we've made a big commitment to americ bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than another 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.
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alert for you. republican senator has just announced he will run for a seventh term next year. there was speculation the mississippi senator would retire, first elected back in 1978, a member of the senate agricultural committee. cheryl: oh, the farm bill. i think i'm the only person in the building that is fascinated by the farm bill. adam: if i were a park avenue farmer getting government subsidies i might be interested. cheryl: the east coast speaking of the midwest and farmers, east coast is bracing for a blast of winter weather as the storm has been done things to and east through much of the midwest. now heading toward pennsylvania and finally will hit new york and a lot more to come. in the weather center with more on this story. rich: i care about the farm bill. i do. i am on your side on that one. speaking of farmers, rapid city, south dakota, a big blizzard
this season and they lost so much livestock and now they have had the cold temperatures across these areas and a lot of cattle ranchers going all the way down across parts of the south. texas desperately needs moisture but they have had the icing variety over the last few days and that is not good at all. high temperatures not just on the planes. you may think 57, 53, not that bad but that is bad for there. a lot of the agricultural industry below zero causing some big problems. saturday 26 for a high in dallas, 39 all the way down toward brownsville. monday even another shot of cold air coming in. tuesday you warm up to 4 degrees in fargo, 37 in dallas. a cold event, and the moisture with it, we have the freezing rain from little rock all the way through cincinnati.
we will continue to see these warnings we have got eventually tore the northeast and another storm behind it, so repeat a saturday evening it is sunday across the exact same areas. cheryl: adam was making a point this could be good for texas because they have had so many years of drought conditions. once they get past the plaque ice and power outages. >> they will take anything they can get, but was not enough moisture with it. the state needs five, 8 inches of moisture in a short time. hopefully they will get some good snowpack on their in the northern part of the farming areas. this won't bring huge relief, unfortunately. cheryl: thank you, rick. >> you bet. adam: shanghai air pollution levels reached an all-time high today. flights delayed, factories close and curbs on the use of a car put in place by chinese officials as thick gray fog covered the city. air quality index exceeded the
maximum of 500 for much of the day. the air index usually hits 300 during a forest fire. any number over 300 is considered hazardous to your health. the fog will continue to shroud the city until a wave of cold air moves from the north and arrives on sunday. cheryl: the pictures are incredible. adam: has be worse than anything, los angeles used to get smog but anything like that? cheryl: no. the market rally in wall street, let's focus on the news. nicole petallides on the floor of the new york stock exchange. 16,002. nice to see a strong day today, nicole. nicole: we held onto the gains earlier, the dow up 175 points, a gain of over 1% much like the s&p. and the nasdaq up 31 points. some names coming under
pressure. american eagle outfitters down about 8%. the gap came up with numbers, turns out the gap and old navy are doing well, but banana republic is where they saw the weakness. american eagle earnings sank 68% and with most of the retailers doing a lot of discounting, promotions. ultimately get the customers in and shopping, but it cuts down the margins. they don't make as much money when they are running the promotions. back to you. adam: we get a look at the top product as part of the wish list series with the company ceos straight ahead. cheryl: amazon developing drones. find out what the government is working on coming up. when does your work end?
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president of south africa died yesterday at age 95. a memorial service will be held on tuesday followed by burial on sunday. ice president joe biden says america's pledge to expand its asian footprint should not be doubted. u.s. says nearly 30,000 troops in south korea. 60 years after the end of the korean war. meeting with the president toward the end of a weeklong tour of asia aimed at reinforcing america's role as a pacific power. and a mural stenciled on the side of a gas station a british street artist known as angst he has fetched hundred $9000 at a beverly hills auction. was endless times says the nine by 8-foot work called "flower girl" was bought by an anonymous buyer. get you back to adam and cheryl. adam: wish i had that kind of money to buy anything.
more than 60 monthly visitors, over $1 billion in revenue, and continues to grow at a rapid pace. our "your wish list" series continues with our next guest, ceo joining us today to talk about the strategies that made his business so successful. good to see you here on set. i have to ask you, your you're e billion dollars revenue standpoint. ipo discussions of ipo, get it in before you cross the eyes. >> this year will be in just over 50% so we have next year that we can qualify under the jobs act. something that definitely thinking about. adam: are looking at some networks. an increase over holiday
shopping season. is his people from brick-and-mortar online or something wayfarers doing? >> adam, we sent in a coupon to more than just you. category online's growing 18, really the migration from brick-and-mortar to online, but we are growing at multiple of that. benefiting from that shift and not just riding the wave, we are capitalizing on it. adam: let's talk about why people are coming to you as opposed to some of the competitors. we will not say you know who, but they are coming to you. $179 device. something people were grabbing up over the holidays. >> we have the biggest selection in the home and the core market by four. helping them find what they're
looking for. home similar to apparel and accessories have their own set of dynamics about them. that is what we focus on. really carving a spot for ourselves. adam: can we put the graphic backup? i thought beanbags went out of style with camaros and fuzzy dice in the '70s. am i wrong? >> they're probably less popular now than they were then, but every home is different. they are still in the basement with younger kids it is not uncommon to have beanbags. adam: can you share with for the average customer is? isamu crosses all kinds of demographics. >> our core customer, look at the age distribution 35-60, really 45 years old median age and we talk about household income 60,000-160,000. folks who have disposable income looking to see their dollar go as far as they can get it to go. adam: 18.3% of sales came from mobile devices, an increase of
year-over-year. we were talking about this before the broadcast, why is that important? i would think a sale is a sale is a sale whether it is on a pc or a mobile device. >> our concentration on mobile is even higher than that. it is just another place that you are conducting a transaction, a customer experience, but at the same time the internet is getting more and more complex, not just a website, you have to have a good app experience, a good phone experience. the space you have to work with changes, customers want is to be elegant. the internet is moving toward brands and brands providing the best experience in the category end up being the big winners. adam: it has be more expensive for people like you, wayfair, to have two different designs. the pc and the mobile. >> and you have a touch experience i tablet which is a different form factor.
mobile app and web browser. it is expensive, but this is the benefit of being a billion dollars growing over 50%, have a lot of money we generate through sales to invest back in the product. invest back and marketing. letting us further build our lead. adam: you have brought a lot of smiles a lot of people, so we hope to have you back in 2014. >> thank you. cheryl: amazon isn't the only company looking into advancing drone technology. the u.s. naval working facility with a fuel-cell powered unmanned drone yesterday while it was propelled from a submarine. devastating ability to stream videos back the naval base in the project took less than six years to complete, relatively fast compared to traditional programs that often take decades to produce results like these.
exciting stuff. adam: is a good economy are good news for the economy good news for the market? why he thinks the taper will be harmless for stocks. cheryl: congress getting in the way of business? uncertainty in washington driving companies to look overseas. that story coming up as "markets now" continues.
adam: markets are rallingly on better than expected news out of jobs report. we want to head back to the floor of the new york stock exchange and nicole petallides. the dow is up what, more than 150 points at this point? >> right now 173 points to the upside. 15,994 at highest point. we did cross the 16,000 mark. we are seeing gains.
saw better than expected jobs numbers for the month. so that was some good news. and we've got plenty of names hitting all-time highs like google and yep motors. i want to take you to take a look at boston scientific, a name with an up arrow up 4 1/2%. they had their ratings raised to outperform from market perform. that is some good news there over at cowan. the fact that they're working with spinal cord simulator. working with them as well. that has great success rate. doing that with them could be very beneficial. or at least for today it is very beneficial. it is up 4 1/2% right now. back to you. adam: thank you, nicole. cheryl: strong jobs report is spurring a comeback rally on wall street after five sessions of declines. what can investors do to keep momentum going? let's bring in brian jacobsen, chief portfolio strategist at wells fargo. brian here is the question what
we're seeing today. fy days of selling. great jobs report. fed with taper strategy in their hand, and market takes off. what is going on? >> i think because a lot of the taper is priced into the markets, ever since they didn't taper back into september. but then in october we noticed that some of the numbers were getting better. ism reports are coming out, measure of business confidence have been improving. the markets priced in a taper. question is matter of timing. is it going to be december, is it going to be january, is it going to be march? it probably doesn't matter much. because the jobs report today was good for the markets. we know the fed will begin tapering. we know when they begin to do it they will go very slowly. they don't want to upset the markets. cheryl: brian, do we know though? there is more and more commentary coming out today, for the december meeting. this may be enough about discussion for beginning to taper now. would they do that, janet yellen
center? >> it wouldn't steal her thunder. she is part of the show. that is important thing to remember. with her role on, with the federal open market committee she is integral how policy is crafted. there is no way i think ben bernanke would sort of steer them toward taper in december without janet yellen being fully on board wit. and two of them actually agreed to how it should be done. we'll have a lot of policy continuity. i don't think there is any reason why they can't continue to taper in december. cheryl: if you look at different types of sectors high. >> most of it was private sector jobs, not a surprise. we saw a little bit of a build in manufacturing. manufacturing jobs. as sector, sector to invest in, would you recommend this group, to clients? >> yes, i do like manufacturing but we have to think about what does manufacturing all entail? it is not necessarily just making wigits. not necessarily about making durable goods, non-durable
goods. it is such a diverse sector you have to dig in. if you think about what is going on in the united states as far as declining energy costs for the last few years and labor costs not rising that rapidly, especially considering the productivity improvement taking place, u.s. manufacturers are coming, likely continue to be much more competitive than their foreign counterparts. i think manufacturing, especially in export oriented areas could be good place to look for investment opportunities. cheryl: let me ask you this. you mentioned opportunity. that is the question for our viewers. we've seen a big rotation out of bonds. that has been going on for the last six months. if they're looking to into stocks do you give a word of caution yes, sir of the year? do we wait until january? people have tax issues. do you think now is good time to address the market as we're sitting on highs for the day? >> sure. anytime we get to a new high you have to be cautious and why are we here? is it based on fundamentals or
is it a little frothy? i think it is based on fundamentals. cheryl: you would wait? >> i would, wouldn't necessarily, well i would actually ease in. depends on areas. i look for opportunities when stocks come down when everything else is going up. comes up on my radar why did that stock go down? what is the specific issue. that is the way which i would property it. look for more of those divergences where there are stocks maybe at the market stays where it is, what is going down. why is it going down and look there if is there good fundamental reason to do it. we have a lot of political headlines in the election year. that could cause volatility in the markets. could be fun for people. cheryl: maybe now and january time to ease into the market? ease is the word of the day. >> like a hot tub. don't go in head first. cheryl: brian, good advice. thank you for being here. adam: don't go head first is advice you use to go down to washington, d.c. because this will come as a surprise to lot of people, uncertainty in
washington, d.c. is causing some companies to consider shifting some of their business overseas. rich edson joins us from washington with more on this. it could be troubling for the economy, right, rich? >> it could adam as it has been in the past. congress created it as a temporary tax credit in 1981. lawmakers extended it more than a dozen times and congress probably won't get to it this year. we're talking about research and development tax credit. congressional sources say lawmakers likely adjourn for the year without extending before it expires on january 1st. congressional research service says the credit saves businesses $14 billion over the next decade. businesses are pushing for congress to extend it. biotech industry for example, writes, quote, r and d tax credit is one of the primary reasons the u.s. leads the world in biotech r&d. it is one of the most important tools our government uses to foster innovation that is always america's hallmark. a permanent r&d credit will
provide greater certainty at this and provide research investments in u.s. it is among expiring tax credits that known as extenders. one analyst says senior lawmakers may resolve regularly expiring tax breaks with a larger overhaul. >> i think that the chairman of the, particularly the chairman of the house ways and means committee, mr. camp, has looked at these extenders and by not extending these extenders at end of this year, some 55, gives him leverage to inr encourage and make his members focus on tax reform next year. but if it doesn't come to pass, i think again, we'll go back to those popular provisions, particularly r&d tax credit would likely be one that would be extended sometime in the future even without tax reform nexx year. >> yeah, and if congress fails to overhaul the a tax code next year, election year, ring more
difficult, congress may extend it temporarily and make it retroactive defend. much to the disappointment of businesses looking to some certainty in their tax planning. back to you. adam: rich edson, washington, d.c. pet get up at 12. start to work at 1:00. get to lunch and they're done. detroit's art collection is at risk because of the city's massive debt problem but one philanthropist is looking for a way to change that. cheryl: the luxury real estate market. what realtors are doing in miami to sell high-end properties. that is coming up. we're life. 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.
that helps maintain digestive balance. ♪ stay in the groove with align. >> i'm jo ling kent with your fox business brief. securities & exchange commission is investigating barnes & noble restatement of earnings announced in july. it is also investigating allegations that the company improperly allocated some expense accounting. barnes & noble spokesperson says we can not comment on why the sec is investigating the restatement. consumer sentiment jumped in september to preliminary reading of 82.5. that is the highest reading in six months but up from the final november number of 75.1. apple paid $60 million for its legal battle against samsung. the two mobile giants are engaged in tense litigation over
cheryl: realtors in miami are finding a clever way to sell high-end properties pairing the homes with expensive works of art. fox news's phil keating in miami with the details. phil? >> hi. it is a happening here in south beach this weekend. art collectors from around the world descended on miami beach for the largest contrary art festival in the world. that is this. it is art basel. there are $3 billion in art hanging on these walls. it is all for sale. throughout the weekend much of it will actually sell. a lot of contrary art collectors while in town will also be collecting real estate. now south florida's booming real
estate market has seen 23 straight months of increased sales and realtors are realizing art itself helps to sell properties. this two bedroom condo on a ocean drive includes one million dollars in fine art. >> we think art is very important in today's real estate world. in miami, what we're seeing is that we are one of the top three cities for artwork next to new york and los angeles. so for us in general to be able to combine that, we feel is a much, is a strong selling point to our real estate market. >> developers are also prioritizing permanent art integrated into their concepts and design especially in high-rise condo towers like 1,000 museum place designed by a worldwide renowned arc at the time and realtors say buyers simply demand it. >> the real estate industry as a whole have evolved and buyers tastes have evolved.
they want, they're more sophisticated in a way. they want the best art. they want the best finishes. >> famed argentina designer is building a art centric district in miami beach, a concept only art and it is art in of itself. >> you have a big responsibility because you are building the future and you are building the present also. so it is important to offer to your city, to your people, something that will last forever and have the art and the culture of the moment that you are building it. >> we are in san francisco's john mcgruwen, his gallery setup, this sculpture very cool and popular among everybody walking by. the sales price on this is $975,000. this piece right here goes for $185,000. so the well-healed are certainly roaming the hallways here.
if you buy it and enjoy it, why don't you deserve it, right? >> cheryl: phil keating, thank you very much. something says mirrors like a million dollars. phil keating. adam: get barbecue -- mill dollars. get barbecue at shorty's on south dixie highway by dade land. save the million and get a good lunch. one man steps up to help detroit. a local michigan millionaire paul schaap is offering five billion bucks to protect the city's art. the collection is worth 450 to $850 million is being considered for sale by some of the city's creditors. schaap who is meeting with city officials today says hopes his generosity will inspire more contributions. cheryl: look at wall street right now. we're actually, pushing session highs. we're at 16,017. we're nearly 200 points to the upside for the dow jones industrials. let's bring back in nicole petallides from the floor of the
new york stock exchange. is this an indication, nicole what we'll see throughout the afternoon, more buying? >> it is pretty amazing we held on to gains and now breaking through to session highs of the day? we've seen all 30 dow components with green arrows basically. you have seen banks and energy and technology and industrials, consumer products, sector after sector with up arrows. this is one of those days where they're buying everything. vix, fear index which has been down all these days, up all these days, pulling back, basically taking a breather and saying you know what? they're buying everything today. we'll see what happens on monday. for now it is hard to imagine that we would lose all 200 points of this but this has been a big day on wall street, up 198 1/2 points. still negative for the week. back to you. cheryl: we have to stay with fox business throughout the day, all through the closing bell to see what happens with those numbers. thanks, nicole. adam: replacing the incredible
edible egg? one startup is doing that with plants. hampton creek foods founder ceo shares his plan to disrupt the food industry. cheryl: the toyota camry among the most popular cars in the country but also topping another liz. find out which one next. every day we're working to be an even better company - 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. [ bell ringing, applause ] five tech stocks wi more an a 10%... change in after-market trading. ♪ all the tech stocks with a market cap...
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cheryl: here's question for you, which came first the chicken or the egg? that question may be a thing of the past thanks to our next guest who thinks his company could render chicken eggs obsolete all together. josh tetrick, hampton creek foods founder. i got to tell you, you were featured in a "mother jones" article about plant-based eggs. that is what you're.
making eggs that don't suck. it is about the taste and flavor. how do you respond to the questions? you get this all the time. >> it is about taste and flavor and making sure it is less expensive too, right? so 1.8 trillion eggs are laid every year around the world and 99% come from place that is are both rising in prices and place that is i think we think are ripe for disruption. we don't always have to go about doing the same thing we've always done of the we can do something a little bit different and whether it's mayo or cookie dough or even a plant throw in a pan and scramble it up we're pretty proud of the taste. cheryl: we should say, you're not making quote-unquote eggs yet, but yes, whole foods is pick up your product for its foods within the store. whole foods didn't cut the price on their foods. i think that surprised many consumers. did that surprise you? you are doing something a lot
cheaper. your substitute is lot cheaper than a regular egg. >> you et it is. you think president chicken egg, 70% of the cost of chicken egg comes from the feed that the chickens eat. think about that inefficiency. this is the reason we have excitement investment community. a chicken is in a cage. fed lots of soy and corn and you have all of those inefficiency that is go into it. we say enough with that. grow plants instead. we use those plants in mayo or cookie dough and you're right. we make them at a price a lot more affordable. cheryl: bill gates, this had to feel good, bill gates chose you as one of the three food companies to watch. future of food. you've been winning many awards in silicon valley. how do you take down what is arguably california most profitable business? that is the egg industry. many don't know that the egg industry is huge in california. how do you compete with behemoth like them even with somebody like bill gates behind you? >> it starts out with a guy way
back in the day john rockefeller made a lot of money with gas lamps lighting homes. then electricity came along. initially electricity was more expensive and after a while the price came way down. we have the advantage being more inexpensive right now. after a while, as convenience sets on, as people realize how powerful electricity is for their lives it no longer was called the gas lamp substitute. that is our approach. i think reality is, consumers have a choice, right? consumers have a choice. if something works the same or better and radically more affordable than what they're currently doing, we've seen with innovations in the past usually way people go. that is how we think we take them down. cheryl: since this takes off and the hottest thing since sliced bread, can you manufacture enough egg substitutes? do you have that manufacturing capacity and growing capacity? >> we sure do. cheryl: okay. how? >> we have three facilities in seattle, washington, one in
southern california and one in memphis, tennessee. we have a world where 92% of the plants have not been explored and we have farmers working with in canada and the midwest who are eagerly growing plants to fit into a more sustainable food economy. cheryl: right. >> capitalism can be good and i think capitalism can be bad and think we can find ways to use capitalism to unseat status quo and make sure people have more affordable food good for their bodies. cheryl: josh, a very fascinating story and interesting one. keep us posted. good luck. >> thank you. adam: what's a thief's favorite automobile? it is not a fancy sports car. these large and mid-sized vehicles were ranked as the top five most stolen cars in a report from the national insurance crime bureau. ford fusion made list at number 5. chevy malibu at number 4. nissan all the ma, number three, and chevy impala, number two spot, most stolen car in the
united states, toyota camera. always the camry, right? cheryl: it is always the camry. from road to skies on monday, american airlines group will be created. combination of american airlines and us airways. becoming official on monday. i will speak live with the head of the new global behemoth doug parker. ceo of us air and how he sold the merger and epic battle with the justice department and more on the global economy. fox business monday, mark kitts now. big story. adam: american with the largest airline. it will be pretty good. where america doesn't shop, sears land's end. is the iconic department store on the way out? tweet us. your analysis next. signs the corporate christmas party is returning. yahoo! presidents of iconic wine store morel's, tracy byrnes and ashley webster take you through
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tracy: happy friday, i'm trace by byrnes. ashley: i'm ashley webster. all about the dow and fed. dow rallying 200 points as unemployment falls to a five-year low but where are the taper tantrums? we're all over that story next. tracy: and where america doesn't shop. sears spinning off lands' end. so is the iconic department store on its way out? tweet us your response. of course we're going to have our analysis of all that ahead. ashley: gotta have it. our week-long series wrapping up. have we got a deal for you. coming in by the busload. john cline president of premium outlets will be here. tracy: my favorite time of the week. wine with me. one of new york's oldest wine stores and wine catalog merchants. the president of morale's joins us to uncork her business model.
ashley: cheers to that. big brother or retail savior? we'll report, you decide. we'll have that and so much more ahead on this tgif. tracy: it is top of the hour. look how dark it looks behind us. armageddon. ashley: pretty miserable out there. tracy: market not so miserable. nicole petallides on floor of the new york stock exchange. dow's rallying. >> it is indeed. dow jones industrials up 190 points, giving this market a go. short time ago we were 16,017. a gain of 1.25%. s&p 500 at 1805, a gain of 1.1%. nasdaq up 3/4 of 1% as well setting new highs today. the vix pulling back after days of having up arrows. people don't seem to be worried now. gold has gone back and forth. gold is down three bucks. we're watching that. that's worth noting. we're seeing gains from sector to sector. basically means risk on. everybody is buying everything
today. seems they're looking from everything from technology to financials industrials. they're buying it all. after several days of selling. last friday we had down arrows. today is different picture. we'll see what next two hours brings. ashley: buying it all. great words, nicole petallides. thank you so much. bottom line is the fed going to taper earlier in light of all these above jobs numbers and other economic data? take that question to one of the most respected economists on wall street, jerry webman, chief economist at oppenheimer funds. we know you're here because it is jobs friday. >> must be. ashley: what was your take on the report? pretty solid? >> i had to use one word, it would have been relief. this is number consistent with what we've seen throughout the year, really last 12 months, hovering around this level. i'm glad it was fine. glad it wasn't any worse. i think it is okay. ashley: so what impact does this have on the fed? lots of speculation now. >> would you mind if i say, i don't care?
>> go ahead. ashley: >> i don't care. i think the fed will stayer at some point. when they do somebody will be surprised and you will see some short-term disruption in the market. ashley: sure. >> then we'll say, big deal. you know the fed has done i think as much as it is possible to do with this quantitative easing. maybe they have done us good. we'll argue about this for months. when they really start to go from 85 billion a month to 65 or whatever they do -- ashley: so what. >> honestly i don't care. i care about earnings. i care about -- ashley: you care about the fundamentals. >> i actually care -- ashley: what a concept. >> i know it is a bizarre idea. ashley: do you think the fed, at the december meeting will at least lay the groundwork and say, all right, guys this is time or do we get a december taper? >> i bet they're going to discuss it. if you look at the beige book which is their sort of meeting notes it says, things are not as strong as they were in the spring when they said they were thinking about doing it by year-end.
so now we're at year-end. i think it is legitimate that these people sit around the table with all their staff and numbers and argue for two days. i don't think anybody knows. ashley: if they say they do they don't. >> they don't. s good for theon today's market fed? the fed now says, before good news economically was bad news for the markets because it brought up the possibility sooner rather than later for tapering. does this show maybe the markets now are blowing it off? >> that's a great point. i agree with it completely. i think we went, earlier this week we were hearing bad news is good news again. now i think the good news, it's not great news. the good news is sufficiently good that we don't really care what the fed does and the market doesn't care what the fed does. bravo for the market. stop caring what the fed does. care what the 80% of the economy in private hands does to make money and that's what matters. ashley: this is the all-important shopping season which is all so important to the economy for this country and
consumer confidence numbers continue to come in strong. what about the psyche of the consumer? >> looks like we got over our fear of the government an consumer numbers are pretty good. credit card, there has not been a lot of credit card borrowing since the crunch five years ago. ashley: right. >> that is coming up little bit. that looks like e-commerce to me but correlation between confidence numbers and actually spending money isn't that good. it is good people are feeling better. glad for my fellow citizens to be happy. whether that will show up in a lost holiday sales remains to be seen looks like so far, so good. ashley: housing market is critical cog in the wheel and prices are starting to rise. >> prices are been rising for last year. they have slowed down a little bit as mortgage rates have gone up. by the way, who wouldn't want that to happen? we're not trying to get to 2007 again. we're getting rate of housing inflation about the rate of overall inflation. that has been what it has been for decades and decades. we're getting back there. that's fine.
ashley: major fly in the ointment is inaction in washington and the budget battles will come unagain. how much of a hindrance is that to the over all economy and markets and everybody else? >> one of my colleagues with yankees fan they're trying to get people with high on base averages not high home run averages. congress has decided to play small ball. they're trying to get to small compromises, again not what you or i would do if we're in charge but we're not in charge. ashley: tiny agreements are better than nothing at all. >> better than going from crisis to crisis. would love to see massive tax reform. then i wake up. why am i even saying that. ashley: always great to have you here, jerry webman. thank you very much. tracy: poor jerry. he woke up. we all have dreams. we all think the glass is half full. ashley: and he doesn't care about the fed and maybe the market doesn't now too finally. tracy: right, right. nice and refreshing to hear. all right, so where america
doesn't shop. i'm going to tell you. sears. because it is spinning off its lands' end division which is only thing it had going for itself. that is me opinion. putting my little opinion in there. is thh iconic department store on its way out? tweet us your answers we'll put them up at the bottom of the screen. liz macdonald is here with her take. that was my opinion. >> that is was your opinion. this is death by a thousand cuts. is eddie lampert who basically owns 48% of the shares still in sears, is it basically wrecking the company by basically spinning off the cash machines? they got rid of great stores in canada. bringing in a lot of money. the auto centers were bringing in money. lands' end is a great catalog business. what is the future of sears? that's the big debate on wall street right now, tracy. tracy: you know what? the debate, and i remember this from moons ago studying in grad school, why did eddie lampert
buy it in the first place. everyone thought it was a real estate play. >> he is not a retailer. he is value guy. what value has he put in? tracy: nothing. >> 26 quarters of earnings losses and stock rocketing down 70% from its peak in 2007 you got to say something really bad is happening at sears. now here's the deal. here's what is talk on wall street. there is always this talk, sears has a great real estate footprint. has a lost stores. maybe target or walmart pick it up. a lot of stores are saying we're moving our business online. talk on wall street, hey they have got a lot of great locations. valuation of their sears location is more than the simon mall properties, right? that was the talk. but here's the problem. retail remembers moving more of their business online. they may not need the stores. valuation of moddell of breakup of sears are rocketing around 7 billion, to 8 billion, to 15 billion. tracy: you're so smart. basically he missed the boat. >> he did miss the boat. you know what the problem is, tracy?
this is problem with guys that run these companies and don't have their timing right. should he have taken the reported offer from hudson bay to merge? should he have said you know what? sears, we've got stiff competition from walmart and target. sears is a great brand name. let's merge sears. save company, save jobs. merge it with hudson bay or another retailer. didn't do it. instead you have this slow death by a thousand cuts with stores that still look like soviet union circa 1974. not reinvesting in it. it is unfortunate. sears is iconic brand. eddie lampert the guy to save sears right now or should he be pushed out the door? tracy: he should have been pushed out years ago. getting sears catalog at christmas was well, like christmas. everyone went through it, lizzie mack. we would go through and earmark the pages. >> i remember. ashley: a slice of americana, the sears catalog. tracy: as is liz macdonald. >> god help me. ashley: no pressure, emac. no pressure.
thank you so much. come gather around people, wherever you roam. bob dylan lyric. appropriately so. you want to bid on this? it is bob dylan. it is his fender stratocast sister. you won't believe how much it fetched at auction. tracy: wow. bowling for jobs. how fun is that? jeff flock tries for a strike. is that him? that wasn't jeff. that wasn't jeff bowling. i thought it was. it was jeff bowling. excellent. ashley: in a suit. tracy: in a suit. eight down, two up. for those on sirius listening. newly hired vice president of brunswick how tough it is to get an executive level job. ashley: i hope that wasn't the second one. ryan seacrest wanted iphone keyboard so badly. what did he do? he paid to have one invented. we'll show you what they came up with. tracy: wow. good for him. as we do every day at this time of day. look how oil is trading.
ashley: well the unemployment rate may be at a five-year low but a new report finds that getting a job at the executive level may be harder than ever. but, don't despair and don't strike. why? our jeff flock is bowling for jobs. jeff? >> you know if you want to get a job as an executive you go to a bowling alley, right? well maybe not. are we at a bowling alley? the lady in orange is executive vice president of hr for brunswick bowling and billiards. not very of a bowler as you can tell. next lane, that is howard a senior consultant at a company called bpi group. bpi group helps executives like lisa get jobs like this which you did, right. >> correct. absolutely. when i was ready to take on my
job search had a coach with the process. >> look how long people are on unemployment. that number ticked up a little bit this month. 37 weeks is the average number of weeks somebody is on unemployment. it used to be that high-end clients, like the executives howard, right, usually got a job faster. that is not happening right now. >> no, not at the moment. people are finding it is taking longer especially because there is so much competition from all over the world. so you might be great at what you do but there are other people that are equally as good. >> take a look though. still helps if you have got a good degree. if you look at numbers on that. this is bpi study. you at least, got a job in a fairly short period of time. you were at mcdonald's as director for a long time. decided you wanted to make a move. you hadn't looked for a job -- >> over 11 years. it's a different market out there. different tools. different expectations. so, having a coach really helped
me through the process of how to think about how to go about it because it is real different out there. >> howard, i want to leave it with you -- >> yes. >> you just got a strike. >> i just got a strike. >> howard teaches at nyu. you're a clinical psychologist. >> that's right. >> i'll tell you. >> this just doesn't come into my normal area of he can expertise. >> your friends in new york will be upset. what is he doing bowling? leave you with how you find a job still, as you might guess, networking. that is the way you find a job out there. that is what these coaches help. ashley: jeff flock. >> oh. ashley: almost. jeff looks like he came from an interview and wouldn't straight to the bowling alley. best dressed bowler in illinois. great form. tracy: jeff, you're terrific. ashley: great form. three-piece suit. took the jacket off. tracy: all right. quarter past. time to check on the markets.
nicole petallides on floor of the exchange. we're setting new highs. what are you watching? >> sorry was so enthralled in jeff bowling and phil keating in miami. but i say the new york stock exchange is a lot of fun and always fun to take a look at the markets when you have up arrows. the dow is up 190 points, holding on to stellar gains after a great jobs report this morning. that being said, look at two names we're looking at, big lots and salon. they gave outlook weaker than expected for the beauty retailer. they have beauty productings and like. as a result, several analysts cutting numbers. we've seen that name to the downside. we're keeping eye on a jcpenney. back to you. tracy: yeah. hard not to. nicole, see you in 15 minutes. slip-sliding away. we have icy roads in dallas and across the midwest making it a travel nightmare. it is heading east unfortunately. we'll have up-to-the-minute weather coverage in the fox business minute. ashley: looks rough.
>> at 22 minutes past the hour i'm arthel neville with your fox news minute. president obama and the first lady plan to attend an memorial service in south africa next week in honor of nelson mandela. flags were lowered to half-staff in the u.s. and many countries around the world. the anti-apartd leader in south africa's first democratically elected president died yesterday at the age of 95. we take a live look at pictures coming out of johannesburg where people there are mourning his death and celebrating mandela's life at the same time. two of mandela's daughters learned of his death during a movie premier about him in london last night. they immediately left the theater and asked that the film continue. a blast of winter weather moving across the country has knocked out power in texas to more than a quarter of a million
homes and businesses. the storm stretches from south texas into northern new england and the canadian maritimes. the national weather service is issued storm and ice warnings for parts of eight states, up to two feet of snow has fallen in parts of minnesota and wisconsin. windchill temperatures in north dakota tumbled to near 40 below. those are the news headlines on the fox business network. get you back now to ashley and tracy. >> arthel neville, thank you very much. rumor has it, that is coming our way. i know. here's change. a company that might be welcoming obamacare or at least not feeling the effects of it. nps pharmaceuticals says it will actually help business maybe. with a new thyroid drug awaiting fda approval, nps is the definition of tomorrow's business today. the ceo joins us now. how is it going to help? >> by expanding the number of
patients that could have access to our drugs and to drugs in general and that's a good thing for public health. that's a good thing for patients. >> you're in the business of orphan drugs. that means you make a drug that didn't help a ton of people. by allowing more people into the system you're saying there might be more people that suffer from these illness, and can get access to your drugs under obamacare? >> under obamacare is one viewpoint. we're in the rare disease business. these patients do not have any alternative this makes our business very unique. we're targeting a small number of patients. more often than not they don't have anything to rely on. tracy: tell us about the big drug we talked about the last time you were here. what is the update on that? >> the update the launch of gatex is going exceedingly well. we're pleased and announced we reached lower end of our guidance. we said we would have between
275 and 325 patients on it by year-end. we announced today that we reached 275 going forward. tracy: what does it, what does it help? >> well gattex helps patients who can not absorb fluid and nutrients because they have a short gut because of crohn's, sclerosis and other conditions. they rely on artificial newt tricks that given to them intravenously every day, eight, nine, 10, 12 hours a day every day of the we go for the rest of their lives. tracy: wow. this is helping them. talk about the process. you. you and i talked about how long it took from disever coverry of drug to get it to market. >> 17 long years. tracy: wow. why do you keep going? to your point, it costs so much money. you're not getting anything back. not a lot of people you're selling it to. eventually does it become ineffective, cost ineffective i should say? >> i hope not.
frankly these diseases were called neglected diseases for a long time. now we call them orphan or rare diseases. that is a major shift. fortunately we have incentives for companies like ours to be in business of rare diseases with very few patients. process is long and very uncertain. once we make it we say we're pleased and say mission accomplished this is what is driving us to be in the business. tracy: can you tell us quickly about the next drug to come out. >> that is the next drug. we filed through the fda on october 23rd. 450,000 pages was our filing to fda. tracy: wow. >> so they have a rear to review it which is huge effort on their part. it is for patients who lack the parathyroid hormone. we're giving replacement for the hormone they are lacking. tracy: gave you entrepreneur award for 2013 national life sciences. somebody thinks you're doing right. stock is doing okay too. >> the stock is doing okay and
reflection after the team and efforts we're making really helping patients. tracy: ceo francois nadir. doctor, thanks for being here. sticking with it for all the people out there. >> we'll do that. thank you. tracy: ash? >> ashley: thank you, tracy. dow is higher by triple digits on great jobs numbers but will wall street fear a fed taper that could come soon irrather than later? we'll look over that next half hour. tracy: christmas parties are back. in wine with me we'll talk about the new york's morrell's about the trend they're seeing. ashley: gotta have it. we'll go to the outlet malls for the final segment of our series. the president of premium outlets is here next. tracy: as we head out to break, look at some winners and losers on the s&p 500. electronic arts is up today. 5.24%. must mean ashley's boys are buying games. we'll be right back? ashley: yes. ♪
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or iyou have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. lori: look at the dow ferrying seeing its biggest one day again in a month. intel, your big winner after an upgrade from citigroup. everyone is doing well except for a visa. will have its chance once i start buying christmas presents. nicole petallides on the floor of the stock exchange. nicole: i am watching everything. etna raising its dividend, boston scientific watching that and move. manchester united has a move to the upside, 2.8%. we are seeing gains across the
board. the dow as high as 16,022 and sitting above the 15,000 mark. i will take a moment here to show you some names. take a look. harley-davidson 1-1/4%. four-1/4%, at&t up 1/2% across-the-board we are seeing plenty of games and worth noting the federal reserve policymaker did say as strong as they are from chicago, charles evans noted the jobs report, he is taking it with a grain of salt and continues to like easy monetary policy. a lot of it was because of people coming back to work from the government shutdown. ashley: appreciate that. everyone loves a bargain so no wonder out what stores are booming especially as international shoppers by the thousands descend in massive numbers to school but american
luxury goods for less. joining us is john klein, president of premium outlets. thank you for being here. here in this region we know about huge outlet store center close to new york city, i have been there once and it was absolutely packed with buses coming in full of what appeared to be foreign tourists who carried suitcases off the bus to go shopping. it was quite remarkable. >> exactly. great response. we have been marketing our center internationally in all of our 66 for over 20 years. also we market our malls, and the mills properties as well. we are able to drive thousands of visitors each year. tracy: you are not wrong when you say premiums. who would have thought gucci would do outlet stores? you don't find them. i can think of anywhere else.
how did you lower them in? >> that was the focus of the business early on, to have the luxury and held him dispose of excess merchandise in a proper environment so now we have great brands at great prices and an upscale environment and it fits in with the overall marketing program of their companies and their image. ashley: if people drive out to these outlets they figure i spent the gas money and have to come back with something, plays into this. >> absolutely. they get by or the win, that is crucial. if the customer goes back, surveys of customers as they left premium out of its 96% when they returned because of the great bys and great bands. tracy: cobblestone restaurants and things like that, a bunch of
president, people from internet sites. they are scooping up designer stuff. how is that affecting you? >> our brands, and polo, pucci, coach. and manage their business excellently across all platforms. ashley: creamy him outlets are not what they seem. the clothing is not of the same standard, they have different bias in the outlet stores and that the deals are getting, they are not real. >> the study of the outlet business, any time they had authenticated the good buys,
there is new for the outlets, with a visitorship and international tourists, with a great value when they visit the premium outlet. tracy: e.u. market globally to people? >> we do. we have been marketing globally for 20 years now and we literally go right in country, we have been for many years to the tour operators. we get on the agenda of the visitors before they leave the country and when they come they spend three or four five hours bringing bags and boxes up. ashley: expecting a good season? >> we had good traffic this past weekend and are cautiously optimistic for some good sales through the season. ashley: thank you for being here, we appreciate it. apple's knew i'd beacon, more big brother in the rhetorical to save retailers?
that is coming. tracy: we are going to go 1-on-1 with one of new york's oldest wine stores. we will talk about the business model and how it is changing to this. ashley: let's take a look at those 10 and 30 year treasuries. and change, 2.88%, and the 30 year also the same story. 3.91%. we will be right back. so i can reach ally bank 24/7, but there are no branches? 24/7. i'm sorry, i'm just really reluctant to try new things. really?
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adam: adam shapiro with your fox business brief, investigating barnes and noble's statement of earnings, the company announced in july the sec has allegations, the bookseller improperly accounted, the spokesperson says we cannot comment. consumer sentiment jumped in december, that is thought highest reading. is up from the final november number of 79.1. bp complained is forced to pay hundreds of millions of dollars to businesses the damage games following the gulf oil spill but were not really affected. including an adult escorts service, $170,000. it was thoroughly reviewed. that is the latest in a fox business network giving you the power to prosper.
>> one of new york's most well-known wine retailers, the president of the company, actually corporate executives losing their purse strings. we will talk about that soon but first talk about the iconic -- it is a wine bar, wine everything and all started years ago. kudos to your brother because he was not be enough to buy a bottle of the rothschild at an auction, 1865, the year of the bottle, he was bananas. was a big bottle, $520 he paid for it, the teen 65 bottle. >> we have not 6 leader of 1989 that sells for $65,000 and he paid 500 something.
tracy: people thought he was nuts. that is quite an investment. that is what sets you apart. you have an amazing collection of a lot of french wines. >> peter and i grew up in the business. as the business grew you grew and it and we have probably the best selection of old and rare bordeaux in the city. tracy: you were saying you could only have one store. new york state, a rule from prohibition. you don't have to worry about the likes of the big box retailers, total wines of the world, we have gary's wine in new jersey. you don't have that worry. >> we have competition in stores that are considered discounters but nothing on that scale. tracy: jackie's in westchester is only in westchester. you'll never have a store in manhattan. i did not know that.
>> most people don't. tracy: you can place accordingly, you don't have to worry about that. >> there is a marketplace in everything. you have to watch the marketplace and did you are consistent and more expensive in the marketplace people won't come to you. they can go online and get a look at prices everywhere. you have to be competitive. tracy: let's talk about your competition. corporate america is coming back. >> this year is unbelievable. the last year like this was 2007 and the corporate business slid, the party stopped the recession completely and corporate business went down and this year it is back like it was in 2007. tracy: you filled lot of champagne during this year. you are seeing it change over. >> yes. corporations are buying more wine, more red wine. maybe they come to us.
we sell probably 10 or 12 to one red wine to white wine or champagne because when you get into the more sophisticated power it is red wine and -- tracy: in the 70s you were the first to put a wine catalog out. >> i don't know if we were the first. 3 can make your brother told me you were the first. either way -- >> i was living in speed in. i won't criticized. tracy: i can go on the web site. >> you can see an item. there are 500 items in this book and is so much easier and there are descriptions and it is so much easier to find what you like and go on the web. tracy: it all works together.
2,000 wines approximately. 1 hundred by the glass. >> it is christmas time, 120. tracy: go to rockefeller plaza. ashley: thank you so much. time for stocks as we do every 15 minutes. let's go to the stock exchange where teddy weisberg joins us. would day. the dow and s&p 500 and joined the biggest one day gain in a month so no concerns on the floor. >> i am confused and the lot of other people confuse. good news is bad news yesterday, good news is good news today from the economy. i guess capering for the moment is no longer an issue. we will have to see where we stand on monday. ashley: this rally is broad based. >> rising tide closing a lot of ships today.
broadbased, we have positive gains in just about every sector. ashley: so as we look ahead into our crystal ball we are into december, the santa claus rally will still be in place? >> i heard people talking about that and my comment to my colleague, we had a santa claus rally all year and you can't help but think perhaps people are getting a little greedy but december historically is usually a pretty decent month and from an overall view of 2013 clearly is the icing on the cake. ashley: thank you so much. have a great weekend, appreciate it. time now for your tech minute. apple shines the light, more like a beacon. according to the associated press the tech giant is set to begin use of its i begin feature, which works for the
island apps store to let apple contact users about device upgrades or quarters that are ready to be picked up. it uses blue tooth technology. it works on a local basis, users can get specific information on sports or activities close to them. shares of apple up 3% in the last year. down $150 from its all-time high of $705 a share after the release of the iphone 5 down slightly today. cost-cutting computersmaker dell offering to keep costs down. no word on how many jobs dell is looking to cut the employees have until december 20th to make a decision after michael dell took his namesake company private in a $25 billion deal. gel is the no. 3 computermaker in the world. artist working man in show business, media mogul ryan
seacrest co-founded $1 million in title product. the company makes keyboard attachment for the iphone 5 and 5s. the goal to create a keyboard and case that would at least announce of length and fitness to the iphone and allow protection, and a tie polk keyboard is available for pre order at $99. he says pleas by one man said to make its debut at the consumer electronics show next month. ryan seacrest is everywhere these days. tracy: whatever he touches all about the kardashians and the reason they are on tv. time warner cable stock up on a buyout rumor. dennis kneale investigates next. ashley: this guitar, you won't believe how much it just that at
ashley: the hills are alive with the sound of money. nbc and breaking in good ratings on the live on stage remake of the sound of music but first looking like time warner cable is in play. dennis kneale joins us. dennis: time warner cable's stock down, popped up 5% in late trading yesterday and comments from this guy. the number 2 guy at time warner cable. the cable titan is insisting it isn't for sale, he is telling bloomberg he is the perfect guy for and a negotiation which put this company up for sale.
the problem is the price already may be too high. on november 20th, '19 dollars a share even if 132, it is up 11% in ten days of trading. obstacles abound. one report has comcast bank number 2 time warner and just now all comcast lining up some advice to look at that but publicly says no way will the obama administration allow that so charter communications -- or comcast gets with the other guys and they by and shot up and split the proceeds. let's get to the sum of music. i watched it for a minute and thought was rubbish. the music was great but the acting. dennis: was a disaster waiting to happen then turned into a tv triumph. first live musical on television in 50 years. the original sound of music, julie aadrews, a classic, made
in 1965, so outdated and saccharin and sarahy how could it catch fire today much less with kerri underwood in the lead role? nbc hauling in a stunning eighteen million viewers for the remake, three hours live on thursday, best thursday night rating since 2004, part of a strategy to run more live events coin. tv critics hated. usa today says the trouble is it wasn't very good. the washington post says it was, quote, as flat as a label -- what do critics know? tracy: every year for my entire life my mother sat us down, they ended it on easter sunday and we watched it as a family. every time i had any issue in my life, i don't think it is at the. it is fabulous and they relented. dennis: that is the normal rockwell painting waiting to happen, you and your family.
it is so saccharin but i kind of like it. tracy: they ruined it. a ruling that. bring back to the andrews. dennis: i did not watch it. there is no way. 3 -- tracy: julie andrews. come on. speaking of classics the times are changing. bob dylan's controversial sun bird, a festival marking his shift from folk to rock-and-roll, sold off by christie's in new york symbolizing a turning point for dylan who walked on stage at the newport festival in 1965, not that year, mostly the fan base with the defining three song
electric said. a cool $965,000, way over the estimate. estimates are only as high as half a million so somebody came in and did the baby up. dennis: i would a $10 for his half. tracy: he inspired bruce springsteen. ashley: a true poet. tracy: we needed him. the peanut gallery. coming up on "countdown to the closing bell" wall street cheering better than expected jobs numbers but are they the right ones to power the economy forward and will there be a post holiday job hang over? liz claman will ask labor secretary tom brad. dallas up 170 points. ♪
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it's a rare day where we can actually report that good news is interpreted by the markets as good news. but today that's exactly the case. investors outright embracing the better than expected numbers for the november jobs report. the economy generated 203,000 new jobs in november, and the unemployment rate fell to its lowest level if five years. the expectation was to see a build of about 180,000 jobs, so this, obviously, was much better than expected. look aa the market rally we have on our hands. investors apparently shrugging off concerns that the strong jobs number might hasten the fed's tapering of its bond-buying purchases. in the past that's concerned the markets, but look at the dow jones industrials. yes, it is up about 185 points, but earlier it gained some 200 points, the session highs. the first 200-point gain in about seven weeks. a similar story with the s&p 500. the s&p enjoying its biggest gain in four