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tv   Markets Now  FOX Business  April 18, 2013 11:00am-1:00pm EDT

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at a fertilizer plant toxic fumes forcing the evacuation of nearly half of the town's residents. dagen: planning to spend up to $700 million to upgrade the troubled ship as another one loses power at sea. >> the 787 and dreamliner is one step closer to return to the skies for the first time since genu very. coming up on markets now. connell: we have a lot going on. dagen: so much for the markets and investors to take in not just a day battle week nicole petallides is that new york stock exchange looking at a market that is heading lower once again. >> it is interesting we are
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virtually unchanged from that line. and 104 million to the downside surge in the market tries to figure out which way to go. may be us a tepid market. with that back-and-forth action which said dow jones industrial average would be for rise in or american express but on the down side bank of america and united health care is "the biggest loser" but obvious in the 500 you have names that are hitting 52-week close and three of those are the x-box. computer hardware and apple that is a name that everybody is familiar with with below and hit another low trading as low as 393.
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i have to be crossing it out because i have to look at it going lower and lower. trying to buy on the way up is what charles is trying to do rather on the way down. dagen: a week of news and we're not just talking about the market's. president obama in boston this hour attending the interfaith service for the victims of the attack. this is the investigation and those behind the bombing continues and the devastating news does not and there an explosion at a fertilizer plant wreaking havoc on the town of west texas. many are still missing and several said. connell: also the market's with nicole but first let's go to rich edson as the president is in boston. what about the bombings?
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>> what we look not right now from our security team that the fbi is considering whether to release video and pictures of what they believe could possibly believe one or two suspects. there is video of at least one of the devices being placed that is an internal process as to whether or not release that to the public. also from fox news officials are examining batteries many sold in the united states. the type they found as part of the device however it seems the bomber to the extra step not to purchase the regular battery but taking another to insert into the bomb. also significant social media footprint the fbi is examining and an apology on house says this investigation will take time >> they are proceeding apace
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this is not the end cis episode sometimes you have to take time to properly put the chain together to identify the perpetrators everybody is committed to see that gets done. >> obama has landed in boston he will also meet with first responders and those who were injured. president obama also the target of the ricin mailing. remember the fbi needed a day or two to confirm if the letters sent word ricin they certainly absolutely filled with ricin. they never made it to capitol hill or the white house and intercepted but there is an arrest kevin curtis has been arrested with the mailing of the ricin letters to u.s. officials including president obama and the senate majority leader
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commented on that this morning. >> appears the suspect has been apprehended the cowardly anonymous attacks i hope he will be brought to justice very soon. we should all understand this is not appear to be related in any way to boston connell: one final note president obama has spoken with governor rick perry from texas to tell him the prayers are with the people of west, texas, as they respond to the explosion. a busy week. none of it is good. connell: rich edson from the white house. the talk about the jobless claims have been revised at 352,000. from stanford connected is the are bs economist. it has been a rough week for
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all of us. do any of the events have any impact on how you look at the economy right now? are are you focused on other factors? >> at this point* i don't see them has any impact it is the actions going forward but it will not have an economic impact worries about people not wanting to go to a large sporting event and fortunately we have had these kinds of episodes before an economic impact has been negligent with so one of the event. but at this point* we did see an increase with the weekly consumer confidence numbers we get out from one survey.
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quite honestly it is said difficult and challenging period of time. i again, i step back but we are selling back into a realization it is a tough month for the economy. connell: to that point* to get away with the leading economic indicators came in looking at the dow and the generations the leading indicators declined does that tell you anything what was the message of that? >> of course, it doesn't tell us anything we don't know but it is amazing that shift in sentiment people have in the marketplace about the economy with the last four or eight weeks with the turn of the year and through march we had so much optimism that this was
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it breaking to the upside and we would see the pattern but lo and behold starting with that report we had consistently soft economic data. connell: is it just a repeat then? i know these projections are pointless but how do you see the rest of the year? a relatively optimistic to say we may be in trouble? >> you have to save the extremes with periods of real optimism was like the turn of the year you have to step back to say the economy faces challenges we can sustain three or 4% growth but on the of their hand we have a down period now, or early summer last year and then have to step back there are things happening. housing is a big part in the
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you have to realize that economists grows closer to trend. connell: give me one more. you gave me housing gives me something else you are optimistic about. >> the consumer has showed surprising resilience dealing with the payroll tax cut exploration and with the first quarter spending close to what it was fourth quarter. so not a real hit and a decline in gasoline prices will give a consumer and nice boost in to the second quarter summer driving season. even in the short term to avoid getting overly pessimistic. connell: thank you very much dagen: she is trying to get us excited about gas that is $3.51 nationwide. [laughter] the frantic search for survivors has a massive explosion at a fertilizer
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plant levels homes and businesses across a small texas town. connell: carnival invest hundreds of millions of upgrades but now another one of the ships briefly losing power at sea, believe it or not. now look at the price of oil today below $87. ♪ ♪
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connell: lead to a little bit of a follow-up. [laughter] did i cut you off? >> i don't mind because you usually prop me up make sure i don't make a fool of myself on television. that is the god's honest truth. >> i am only one man. follow-up on any day? >> yesterday's the initial reaction we ask questions later but up a couple points from the low meandering for little while but i like the move to the inside mobil is looking strong i don't thank you so ebay based on the earnings i think the numbers are pretty good. overall they are good ironically. core labs deepwater drilling the most profitable quarter ever. we talk about tracking onshore -- fracking offshore
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ppg great news with the industrial coatings and also union pacific. rail industrialism of 9% from a chemicals which is mostly fracking up 14% so mostly good news but the down side is freeport-mcmoran copper were paramount is from down from $3.811 years ago that was the story but some -- bad news has been built and but talk about united health this is where the stocks made such a huge move that a little bit of soul -- cell is not too bad.
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dagen: consistently strong that stock is up 25 percent over the last year. connell: we have to make sure the sequester doesn't turn into though whether. >> a convenient excuse. connell: let's go to nicole petallides morgan stanley is a big winner? >> the sixth largest bank by assets can now with a profit compared to the one year earlier with a loss that is good news for a pate is down 2.7%. it is because of the commodities where they saw revenue drop dramatically and they are looking at spending of those assets in particular. in the meantime the chief financial officer says it is a great time to add senior talent. there is no update of the timing of the brokerage
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purchase there in the midst of with city groups of those are a couple pieces but in the meantime you do see the beach on the earnings per share down 2.7%. back to you. connell: the breaking news story is 160 people injured at the fertilizer plant explosion in the state of texas absolute horrific scene there. the toxic fumes so they had to evacuate half of the town's residents and a number of homes destroyed. dagen: boeing is oh so close to getting the 787 back in the light air waiting for faa approval. how long? and we will see how the currency holds up against the dollar across the board gains against the greenback.
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>> your fox news minutes and president of bombing and the first lady attending the memorial service for this week's bomb attack.
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former massachusetts governor and presidential nominee mitt romney is among those attending. the president is expected to give remarks following the service. the search for survivors continues after the massive fertilizer plant explosion in west, a texas. between 15 people and dead when more than 160 injured they don't know how many people could be trapped in the rubble. authorities have arrested a mississippi man suspected of mailing a letter said initially tessed positive for the deadly poison ricin to senator weicker and president obama and a mississippi officials. the 45 year-old was arrested at his home seven curtis 100 miles east of mfs it worked -- he had previously worked as an elvis impersonator. i am arthel neville. connell: back to the
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explosion in texas in the town of west we have seen that the weather is the bigger issue. dagen: so now we go to our meteorologist has the latest from fox weather center. we did have strong thunderstorms that rolled through the city of west texas and just to give you a frame of reference if you don't know where it is it is 20 miles north of like a texas 80 miles south of dallas. the strong storms rolled through this morning and with a significant drop in temperature ready for the thunderstorm hit it was 74 degrees right afterwards it was about 53. 21 degrees temperature drop within the span of one hour to bring the infrared image from the satellite out in
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space that was able to detect the heat signature from the city yesterday 8:00 p.m. central time in the state of texas. that massive explosion was so massive and devastating and powerful it was actually detected in space by a satellite. this is incredible and also triggered an earth league signals picked up in amarillo there is a report that it was the 2.5 earthquake but it shook a the ground hard enough sending a wave out to amarillo over 400 miles away so that travel over 400 miles and was picked up and this did trigger an earthquake. here is the line moving through earlier today. still dealing with patches of heavy rain and of wind has been an issue up to 30 miles per hour and a
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pretty cool temperatures in the '50s but at night they will dip into the '30's as we head into overnight. this is part of the much larger storm system today is producing a lot of news with flash flooding in chicago area and a severe weather risk with large hail, damaging winds and tornadoes and we have several tornado watches arkansas, missouri all the way up including the city of detroit michigan. we are expecting this to continue over the next several hours. dagen: homemade tear thrust chanteuse the spotlight after the boston marathon in bombing house social media is center stage. connell: but first we will get to the market's and the winners of the s&p 500 although the market overall is down a little bit. @
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>> the low, the companies submit, and pepsi has pepsi, lays potato chips, quaker oatmeal, and the reason -- not just because i like the logo while it's very nice -- the point of the story is pepsi did very well with its snacks, and that's what outpaced the beverages. it was the snack sales that pushed pepsi above in the new quarter, and that's why this first quarter topped views, and that, in turn, pushed the stocks to a new all-time high. just people loving the lays poe
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pay toe chips. back to you. connell: exactly, thank you. dagen: home made terror thrust back into the spotlight. one of the devices used in the attack was a pressure cooker bomb. the late radical cleric who was responsible for the al-qaeda supported magazine "inspire," and the publication's goal is to attract home grown terrorists. connell: a lot of people are talking about that magazine, and while it seems to have died with alawki, youtube is a form for the extremist groups m one example, producers viewed a bomb making tutorial that was on youtube posted by an islamic extremist group. easy to find. it's been removed, but it was there. joining us to talk about it is former nypd analysis
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directorment thank you, sam, for coming in. appreciate it. what role do you think the companies play in this? youtube owned by google and other companies and social media getting attention this week because it is easy for quote-on-quote for a lone wolf to operate, isn't it? >> it is. companies have taken a responsible position about this making it a key priority to censor material ensuring there's nothing out there. they are up against vast quantities of data, the likes google can't get out ahead. dagen: does the information continue to spread? is there a proliferation of this type of information and these guides, if you will? >> absolutely. face it, in the world we live in, it's impossible to eradicate the december mages of this information. we can, you know, put a dike in the dam, but the fact is the information is going to get out there whether it's from yemen or ideas the united states. connell: i asked about the role
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of companies, but what about law enforcement? say, for example, in the video referenced, just one example, but producers find a how-to video yesterday; right? it's gone today. what is law enforcement doing? monitoring videos and help to be out there, law enforcement get them clues about what people watch and are doing? >> may well be. first of all, we have a generalceps of what's out there to be consumed. more specifically, i expect intelligence agencies have the capacity to know who is hitting which sites and when, and that could be valuable in terms of trying to solve the mystery of who done it. dagen: in terms of these more crude devices, as an example of this, what we've seen from the pressure cooker bomb in boston, is it easier than, though, to track down the possibly -- potential suspects? do you have more evidence because these are not as sophisticated devices? >> well, yes and no.
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the less sophisticated the device, the more likely it could have been brought off by hymn. if there's any indication by himself, it's harder for law enforcement to track. where law enforcement excels and intelligence services excel is when individuals come together because that means they are talking, talking by phone, talking by chat, talking by e-mail. if that's the case, then intelligence agencies get a read on it. connell: do they do less of that, guys being suspected terrorists or groups nope to be terror groups, do they do less of that chatting or texting or any kind of communication than a few years back? are they getting smarter? how do they communicate now? >> they are getting smarter. it's an ironclad rule of counterterrorism. the bad guys follow us it rating against the defenses. we can't just have a posture we had five years ago, but reiterate our game as they do against ours. dagen: it might be simplistic,
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but i was surprised when you see what is left of the bomb, the battery, even, like, pieces of the deeper left from this. it dawned on me that you do not have these devices that vaporize when they go off. investigators have a great deal of evidence to work with. >> there's evidence, and a lot of the evidence comes from the individuals who have been killed or maimed in the event as well. there's a lot to go on in the way of physical evidence, and right know, i guess it's the case that intelligence and lawn mower guys are zooming in on video phones, connecting the physical with the people out there. connell: if it's so easy to look up and it's really -- if you really want to do it, easy to carry out as we talked about and we talked about the roles and companies can't do much to stay ahead of it, takes ad view down, another pops up. why don't you think more things happened like they did in boston 1234 >> i don't want to suggest social security -- it's easy. it's easier than with a nuclear
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device, but it's not simple. it requires some amount of coordination, and i guess what we're going to find out over the next couple days is just how that took place, but the answer to your million dollar question is, i don't know. no one knows why it has not happened thus far and hope and pray this is not the change. dagen: diligence by your average citizen, people in the street, is so crate call in preventing attacks, is it not? you saw that before; right? >> absolutely. in this case, in boston, it came too late. they kind of activation of the community, but absolutely in a times square attempt a couple years ago, it was heads up baseball by guys on the street that prevented the attack. this is exactly how israeli counterterrorism operated for generations now. increasingly, we'll see that here as well. connell: a street vendor said, there's something going on in that van, and that's the same thing, see something, say something. >> absolutely.
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connell: thank you, sam. dagen: freak out if there's a package anywhere. connell: that's what's happened this week. dagen: serious. poor college students taking on new meaning in 2012. a report from the federal reserve bank of new york reveals that 43% of americans under the age of 25 had student debt last year. the average debt totaled over 20,000, almost double the average of narrowly 11,000 just ten years ago back in 2003. u.s. student debt now sits at over $1 trillion. don't pay up to go to college. go to cheap schools, trust me. toyota manufacturing the lexus brand es brand in the united states for the first time ever. 147 million dollars worth of tax breaks from the very fine state of kentucky to produce the vehicle at the plant there. they begin manufacturing the
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luxury cars as early as 2015. look at shares of toyota. today, down half of 1%. connell: talked about boeing and the dreamliner a step closer to taking flight. what's it take to get the company as big investment off the ground again? dagen: fear in the markets, there's buying of treasuries, but not much action today in the 10-year. the yield sitting up changed at 1.69 percent. ♪ you know how to dance... with a deadline. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is.
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♪ >> hi, everyone, i'm diane with your fox business brief. members of the g.o.p. including republican representative bill cassidy propose the ego act to cut the deficit. the act prevents taxpayer funds spent on portraits of members of congress and heads of federal agencies. cassidy says spending money on portraits when the national debt is $17 trillion is far from appropriate. meanwhile, mortgage rates down for a third straight week at the housing market continues to recover. according to freddy mack, the average right on a 30-year fixed mortgage is 3.14%. move over, hybrids, gm's 2015 turbo diesel gets 46 miles a gallon making it more efficient than the gasoline electric combined vehicles. it's rolling out in markets like baltimore and milwaukee next month. that's the latest from the fox
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to enjoy all of these years. ♪ dagen: boeing moving closer to getting its 787 dreamliner in the air according to regulators, the faa is close to approving a document making a key step to end the grounding of the dreamliner. for more, mark boyd, president of boyd international. if you read in between the lines, seems like boeing executives expected this to move quicker. what's taking so long? >> the faa will not get egg on their face again. they'll look at every t, every i, every period on these documents to make sure it gets in the sky. they approved it, up approved
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it, and they will not get in that situation again. dagen: what do you think it could happen? based on the air carriers themselves that already own the jets, they were anticipating next month. what do you think the faa will give them the go ahead to fly the babies again? >> well, united's already planning to have it in service may 31, looking at mid-may at the latest. right now, it's a paperwork chase, a fix found, and now looking to get it into place, update, and make sure it works. dagen: criticism of the faa, however, of relying too heavily on boeing, the company employees there for the testing of the fix. what position, how flood watch informed are the people at the faa about what's going on? is the agency keeping up with these technological advancements in aviation? >> well, you know, they can't keep up with all the various nuances and details of every new
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jet that comes along. they have to rely on boeing engineers. that's proper. that is of course, but overall, the faa, you know, has to listen to what boeing's saying, and in many ways, take word from it. it's worked before, it will work going forward. dagen: boeing has a lot to lose, not just in additional damage to the reputation, but also money and lost sales. to the point, mike, how much damage has been done to the company whether it's financial or image in terms of this grounding of what was considered this advanced airplane? >> well, the meter's running. face it. the airplanes coming off production line. they are sitting out there. they are not getting money for all the investment boeing has in those airplanes completed, but not deliver the. that's one issue. i think the other issue is will this harassment boeing's reputation going forward? not in the long term it won't. it will be put behind us and move ahead.
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boeing takes a hit, but one to be over fairly quickly. dagen: do you think pages care or know what plane they are on? >> it's if it's a duck with a chair on the back, they'll go. they don't know the difference. dagen: if it's a duck with a chair on its back, you know, that would be more comfortable and more pleasant experience than some of the flights that i've been on recently. thank you. >> you got it. dagen: thank you, mike, on the boeing story. connell: a way with words. back to the markets and stocks now, every 15 minutes. we -- this time check in at the new york stock exchange with jason, seaford securities, good to see you, jaaon. earlier,ny could talk -- nicole talked about how much apple was down, 393.97 was the low today, below $400. what do you think of it for apple? >> well, you know, i'm in the stock, full disclosure.
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it's amazing how quick the tide turns. six months ago, it was a stock everyone had to have and everyone loved, and nap it's the stock that everyone loves to hate. it's really incredible. if you look at the earnings, they are amazing. the product development could be slower than at first. copycat products, i can only tell youssef mejri walk -- you, you walk into an apple room in manhattan, standing room only. i don't know how it is in the middle of the country. you can't fight the tape. connell: buy more or let it go? >> i'm permly buying more. you know, i still love the stock, but, you know, i'm cautious with earnings coming up, and everyone's gearedded up for bad earnings call, could be a presale before earnings and there's a pop. i'm permly buying the stock. connell: thank you, jason. dagen: just one note, being a
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resident of manhattan, there's standing room only in my local sandwich shop. there's no room to move. connell: apple store, any sthoar. dagen: you can't go anywhere. it's not an indication with the apple store in new york city jammed with people, and they are all tourists, by the way, just browsing. nay are just loitering. they use the bathroom and leave. connell: you sound like a tourist. dagen: because of my accent? connell: accent. moving along. dagen: i'll key your car if you bump me? is that tourist? connell: take a cruise. dagen: last place on earth i need to be is a cruise ship, but carnival is worried about filling up the ships issue and it's spending hundreds of millions of dollars to ensure that business doesn't continue to suffer. connell: we'll talk about that coming up, but first some of the winners today on the nasdaq. ♪ ♪
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♪ dagen: carnival trying to repair a badly damaged reputation and willing to pony up big bucks to do it. carnival will spend up to $700 million in ship upgrades including adding an extra generator to each ship upgrading its fire suppression systems. these are generators to make sure the water and elevators and toilets work if the power goes out. this after, of course, the engine fire on triumph in february stranding it in the gulf of mexico with 3 # # -- 3 ,000 people on board and no power. it was eventually towed into the
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coast to alabama. it looks like new generators can't come soon enough. ecstasy lost power briefly wednesday while off the coast of florida. let's check on carnival stock, it's up, $700 million, i think, would be an excess of the biggest boat or ship order ever. connell: big tech names reporting, microsoft and google, both out after the bell later today. dagen: and joshi has what to expect. >> we got technology in focus this morning as apple at 52 week lows, yahoo reacting to mixed results after yesterday's close as well. downward pressure and skepticism ahead of two big earnings report later on today. we'll get google with the first quarter results expecting 10.66 billion dollars in revenues on earnings of $10.66eps on
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revenues up 14.2 billion. the street looking for crossover of the success of its ads on the internet over to mobile. cost per click is the most telling number as it's been on the decline the last five quarters in a row. mr. softy out after the bell, looking for 68 cents per share, eps on revenues at $20.5 billion. i don't have to tell you that dwindling pc sales and lackluster, windows 8 reception is going to continue to pressure the bottom line. watch for that at 4 p.m. eastern time. connell: you don't have to tell us, but happy when you do. anything on your mind. dagen: means that to you, to me, not so much. connell: if you don't have to, rather you didn't. dagen: stifle, stifle. wild ride, down day for stocks. connell: sandra smith has the latest from the pits. >> not what's on my mind, but on the mind of traders here on the floor is red flags that we've
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been picking up on this week. we've been reporting on them, putting them together, and give you numbers to watch in the s&p 500. they wonder on this, well, down day for the stock market. what's going to happen next? some of the red flags as traders watch this week, gold prices started out friday, by the way closing the trade friday at 1550 an ounce. this week, fell below 1400, up a bit today, still below that key level. we've seen a return of volatility in the stock market as well. we started out the week with the vix below 12. it skyrocketed to now the above 16 level today, up another couple percent today. the stock market, everybody's asking maybe it's ahead of itself. s&p 500 up 9% so far this year. not great economic data, and pretty overly optimistic corporate earnings. that's called into question, and as these traders look at some of the charts out there, guys, particularly the s&p 500, most of the professional traders do watch the s&p.
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they are watching 1550 as i sneak a peek, we're at 1544. at 1550, we have seen buyers step in to this market. we're not so much seeing that today. we're looking for possibly a close above there today if we were to see bullish signs for the market, close below 1550 is not good. why? when stocks peaked in 2007 and in the year 2000, this was a key level watched. it's a key level watched right now, and, by the way, closed at 1552 yesterday. again, we're watching that 1550 level, possibly a close there today. another floor would be at 1500, 1480, but 1550 is a key level with the red flags in the stock market. back to you. dagen: thank you for that. connell: so sandra's talking about the idea when people step in and buy, and as we munged, people think about that with apple. look at that stock chart. down more than 40% as a matter of fact from its september highs.
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more on that coming up in the future for apple. dagen: that's right, dennis and cheryl talk about what apple has to do to regain the faith of investors and make their products, well, cooler than they are right now. ♪ ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
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♪ dennis: this high noon, i'm dennis kneale. cheryl: i'm cheryl casone. two stocks affecting the dow now, down 58 points with a bear coming up who worries the bottom is about to drop out from the yearlong ware. dennis: bears always worry. we have an apple panic, investors dumping the shares, not waiting for the earnings report, down 40% from the sent highs issue and ahead, what apped has to do to regain faith and make products cool again.
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cheryl: the president honoring the marathon bombing victims, and interfaith service underway just a mile away from the scene of those attacks in boston. that service happening right now. we, of course, bring you an update from boston. top of the hour, stocks now, every 15 minutes, and nicole is on the floor of the new york stock exchange. united health, verizon, morgan stanley, so many numbers. >> thick of earnings subpoena, and each is a market moving event. some names to the upside with new highs, others hit new lows. start would off with the general markets first, a feel of where we stapled at the moment. the dow jones down 55 points now, a loss of one-third of 1%. this is the best of the bunch. the nasdaq for that matter is down three quarters of 1%. of course, nasdaq and the s&p have apple in the index sighs, and apple's been down below $400
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today. obviously, the tech people hot on apple are disappointed today. we continue to watch other information that we get such as the vix, the fear index, showing that we are seeing volatility with an up arrow, and plenty of names on the move on the heels of the earnings. back to you. cheryl: thank you very much. dennis: apple shares down since sent highs. what's the shareholder to do now? joining us, we've got scott kelser with s&p capital iq. thank you, scott. >> thanks, dennis. dennis: i imagine you, just like the rest of the world on wall street, probably still has a buy on apple? >> actually, i have a strong buy recommendation on apple, yeah. dennis: how long have you had a strong buy? when did you put that on it? >> we went to strong buy in november. that was not a good call, but we had a buy recommendation the better part of four years. dennis: apple trading below $4 # 00 for the first time since
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december 201 # 1, and, yet, you have a price target of dlrks 600 -- 600 bucks, why the faith? >> yeah, it's been painful to keep without question, especially as you reference since september of last year. i mean, look, it's obvious that people don't really seem to very much care about evaluation or balance sheets or cash allocation. really, as you rengsed, people wonder what's next, where the outside growth is going to come from, and if apple kind of amazingly has a bright future at this point. we think a lot of the questions are almost kind of silly when you consider the fact that, you know, the iphone and ipad continue to do quite well. looking for double digit revenue growth the next couple years at least, and, you know, hopefully apple provides us with updates that get people more excited about the stock at this point. dennis: we have the ipad mini, reports out yesterday that maybe that little 359 item is not selling, and, of course, when
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you sell something for $350 against the kindle fire for only 200, you have to wonder why apple priced it that high. you have no apple tv which we hoped for, but is it a bigger problem? product cycles, i have an iphone 4, i'm not going to upgrade to the 5 even though a button is broken. already, there's rumors of the 6. >> yeah, that's been a problem for apple over the last, say, year or so. they did -- we thought, a good job of coordinating product launches in september and october ahead of the holiday shopping season, and if you look at revenue gains, iphone 28%, ipad 21% for the december quarter. that is pretty substantial growth, we think. it's just that sense then, apple basically went radio silent as we've seen. new blackberry introduced a new samsung galaxy announcement coming to markets near you so they really kind of have been
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hurt not only by the lack of new products, but products from competitors as well. dennis: i always worrieded that a certain amount, 30% of apple's great stock was just pure love. separate that from growth and pe ratios was love, and now it's like they are out of love. what can apple do to bring back the love? >> yeah, honestly, it's to the next extreme that the love turned to hate. i think people at this point are abhorrent when they think about investing in apple at this point. what do they need to do? i think they need to do three things, first thing is they need to make sure that people understand it's a growth story that continues for the next couple of quarters and years at least. number two, they have to get people excited about the notion of innovation and risk taking. you know, google glasses got a lot of attention, but is that really going to move the needle for the company? no, but it gives people a sense that they are doing things to
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kind of move forward when it comes to new products, and then, third, that cash distribution strategy that people have been waiting on, what are you going to do with the $137 billion in cash? people hope for dividends and buy backs. dennis: wow. i didn't hear apple watch in all of that. the iwatch, as a savior for the company. not a lot of hope in the watch? >> no, you know, in talking with apple, i agree with the sensement that a lot of people have made a lot of incorrect assumptions and predictions when it comes to new products the company is working on and deploying. i'll sit back and wait for the company to kind of surprise us with what they are doing. i think a watch definitely is more possible than other things that we've heard about. i also think the notion of a streaming radio service of some sort, that makes a lot of sense, but we're not incorporating those into our forecast at this point. dennis: okay. all right. given the price target, you watch with a knot in your stomach. thank you. >> thank you, knot in stomach
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and all. dennis: okay. cheryl: looking at a market that's again seeing a sea of red. the dow right now down by 63 points. s&p and nasdaq under pressure. 14555 there, and our next guest says that at this point, this week's action, shows a significant top is building in these marketses. one of our favorite bears with me. you are seeing something different now? you say it's easy for the 10% to 12% gabeed this year to evaporate in two weeks, that would be now? >> absolutely. this is a bouncing ball, 200 up, a hundred down, down 50 so far today, who knows, you can lose 3% a couple days in a row, and there's the gains for the year. cheryl: volatility, the vix, the fear gauge, that's been gaining by double digit percentage points just this week, and that's something else you watch as well. >> rocketing. we own the sx which is not 1100%
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with vix, but etf to play volatility. we own that trending up in the last couple days. cheryl: the s&p and nasdaq, you look at stock movements, the top 100 stocks get 80% of the volume. the retail, institutional money is chasing the same 100 stocks issue and that's dangerous, you say? >> yes, well, everybody's looking for yields, cheryl. no place to go, worried about fixed income, rates can go up. what do you do for fixed income? you don't want long duration because of the move up. you can lose 10% and no way of replacing that until rates come back. cheryl: you have a protection play for the viewers, you have two, one goes to bond yields, and proshares short 20-year treasury. this is the woman that shorted the market three years ago for her clients and made money. you say this particular tbs is good if bond yields rise?
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>> yes, absolutely. play it a couple ways. hedge your portfolio, play it if you want to trade it. you can trade it. rates are going to go up, it's a matter of when. it's bottomed out, trending up, it's not going to go straight up, but opposite of the price of the 20-year treasury. cheryl: the rangers equity bear, etf, a peer protection play. you move into this as well? >> we have offset risk. we try to miss the downside. you don't have to capture the whole sup provide. if you lose 0%, you need 25% to get even. if you lose 10, you need 12 to get even. if you lose 10, miss the upside, you're ahead of the person who has to get 25 to be even. cheryl: diversification, but not traditionally. like, watch yourself on the bottom. if there's a falling knife, and you tell the clients do not try to catch the falling knife that's gold right now. you are absolutely saying stay
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away from it. >> love it long term, but short term, the stock's broken, resistance is gone, bounces here, but i don't know that you want to jump in whole heartedly here, take a small position. cheryl: you have gold names you like, this is interesting because you're saying stay away from the contracts overall, but you've got the ishares gold trust you like, and you also got aiu and dgsj. you have secondary plays. >> yes, for awhile. we're okay on that. we can average into it in here, possibly for a bounce, and then we'll work around that position, but i think long term, the miners are a good place to go. there's inflation in the world, and the hgde is a great play because they short evaluation bases, short individual companies. they had great hits here. cheryl: your strategies are fascinating, and you protected your clients. thank you very much. >> great to be here. cheryl: bearish, but i like you. >> thanks. dennis: president obama speaking
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now in an interfaith church service in boston for the victims. the church a mile from the site of the bombings. rich edson is live at the white house with the latest, rich? >> good afternoon, dennis. the president has been speaking for a couple minutes now, been in boston for a couple hours, and eel visit with first responders as well as the victims of the bombing earlier this week. president obama in boston where the investigation continues. the fbi, according to fox's security team, considering, perhaps, releasing video showing one, possibly two suspects and perhaps a video of someone placing a bomb at one of the sites or a bag at one of the sites. there's an internal deliberation ongoing now as to whether the fbiments to make the images public. there's app investigation examining a battery used, perhaps in the bomb. it's a common battery sold in the united states, but sources telling fox news the battery was, tracted from another device and possibly placed in the bomb.
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the investigation there continues. meanwhile down here, the department of homeland security secretary updated the investigation's progress. >> we have been collecting video from a variety of sources, as you might imagine, at the finish line of the boston marathon. there's lots and lots of video. there is some video that has raised the question of those that the fbi would like to speak with. i wouldn't characterize them as suspects under the sec any call term, but we need the public's help in locating individuals. >> in washington, update on letters mailed to president obama and republican senator roger wicker that contained ricin. the letters increased ricin, and now the final analysis, according to sources to fox, absolutely unequivocally contained ricin. authorities made an arrest last night. neither letter reached their
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destination in the white house or u.s. senate. back to you. dennis: thank you. nevermind tax pain, but what gout tax gain? thank you to the tax man. cheryl: tax pain is easy to think of the irs, but coming up, how 24 agency employees scammed the government and taxpayers out of big bucks, and they did it under the boss' nose. that would be uncle sam. looking at the oil contracts before break. we are, again, blow $90 a barrel, 87.52 on oil. take a look at that. ♪ , and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early,
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cheryl: the dow 30, and, of course, verizon leads the way op the dow. verizon, 5120, up more than a 3% gain, a big mover, of course,
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watching on the dow jones industrial average, and a few more movers, quarter after the hour, and stocks every 15 minutes with nicole on the floor of the new york stock exchange. strong wireless profits at verizon, a good quarter. >> that's right. that helped verizon wireless along the family overall. verizon, the wireless is part of the strong bises, and they also saw improved growth in verizon fios and their internet television service helping to push verizon, the one name here with an up arrow, three and a quarter percent, hitting highs not seen since 2001, 2000, 2001, those are the levels where last time we saw verizon. on the other hand, nokia is under significant pressure, down 11.5%. they saw sales plummet, they had revenue plunge, apple, below $400. then i pulled up other names in the tech realm hitting 50 5* 2 -- 52-week lows like mec.
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technology is under pressure. you know, we're seeing that mimicked by major averages. the nasdaq, the tech heavy nasdaq down a percent while the dow jones industrials are down nearly a half of is 1%. back to you. cheryl: thank you very much. the s&p breaking through technical levels, a lot of floors dropped out today. dennis: s&p up 16% since november. i'm not worried. either is charles payne here to tell you how to make money this hour following up on auto nation and the new world cyberonics. >> the key for s&p is 1540 on a closing basis for me. the medical device implanted inside you and it stimulates the brain, and they use it for epilepsy and to treat depression. they had great numbers. last quarter, beat the street by 24%. last i talked to you, up three and a half bucks, it's down
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three bucks. get into it. any day, the center more fed cad and medicare reimbursement will say whether they reimburse this treatment for depression. it could be a big deal. the guidance is huge, but if they get it, the stock will take off. reported earnings, we know people buy cars. the stock has not really moved a lot though. i mentioned a month ago, it's a buy. i can't believe how cheap the stock is. pe is 13. some insider selling. that's not problematic. few buy recommendations on the stock. a lot of times i like that, where does wall street go? at some appointment, golly, the stock is a buy. looking forward to finally breaking out through 48 and off to the races when that happens. cheryl: what's a driver for auto nation to break out? we are seeing a shift to the
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newer car. >> well, you know, we are seeing somewhat of a shift, but i think they've benefited from both to be honest with you, and it's one of the value plays that they keep coming out with numbers like this, at some point, the street says, okay, it's a buy. this is what happens. the street stays resis tent, and everyone jumps on. dennis: the big fear is obamacare raises taxes on medical gear, not other stuff, but the new treatment was never covered by medicare, just upside for them. >> they do, glad you brought it up, they mentioned the medical device tax, still able, most recently, to still be able to move the operating income gyps up from the previous guidance, but you're absolutely right, it doesn't help any of these companies. dennis: thank you. cheryl: on the road, we have an inside look at this year's summer travel hot spots, and who stands to make the biggest bucks? dennis: and how two dozen irs
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employees are charged with scamming their employer, the u.s. government. liz has those details, but, first, how the world's currencies fare against the u.s. dollar. that would be decidedly mixed. ♪ @
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>> 233 # minutes past the hour, this is your fox news minute. in boston, the interfaith memorial service for the victims of monday's bomb attack continues. president obama just finishing his speaking there telling the city of boston you will run again. the first lady's in attendance as well as former massachusetts governor g.o.p. nominee, mitt romney. the pentagon says a suspicious substance found in a u.s. naval mail room. all personnel has been evacuated from the building as a precaution. in west, texas, waco police says a law enforcement officer feared dead has been found alive with serious injuries after last night's massive plant explosion. police say three or four other volunteer firefighters remain missing, between five and 15 people believed dead, and more than 160 people were injured in
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this plays. those are the headlines, back to cheryl and dennis. cheryl: thank you very much. such a rough story. well, our tax pain series comets, and this takes the cake for it. two dozen irs workers charged with stealing government benefits, those workers who are to protect the system. liz, talk about the story. i mean, this really takes the cake of stealing from the government. >> more than a quarter million dollars in jobless benefits, food stamps, housing vouchers, irs workers stealing, accused of stealing from the government. we have the u.s. attorney general saying that they are brazen about it. here's the quote, braise brazen ningly stealing from the u.s. taxpayers. saying irs free loaders game the system, doubly frustrating because they are the inside guys
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who work the system and milk the government. we should be expecting better from an irs agent. here's the deal. the u.s. trash ricin department and ig's office launched what's called being called operation double dip to stop irs from doing this. cheryl: they were irs employees, furloughed, started collecting unemployment benefits, food stamps, you know, any kind of welfare benefits, and then they go back to work, but they still keep clerking benefits, the double dipping. >> that's right. this is a key problem with the cuts and furlough of government workers is that these workers are basically saying to the government, hey, i deserve these jobless benefits, i'm furloughed, i don't have a job. i deserve food stamps and housing vouchers, but when they are rehiredded, back on the job, they are accused of lying to the government to continue to get the benefits, and, in fact -- cheryl: where did it happen? >> tennessee, 13 workers accused
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of lying saying they were out of a job when they were not. cheryl: they'll be prosecuted? >> that's right. each of the ones who lied face five years of prison maximum each for lying to the government. cheryl: good, good, try not to, like, work for the irs and steal our money. the irs is painful enough without taking the money. >> exactly. you may see more cases pop up across the country. cheryl: i hope not, but probably. liz, good stuff. >> sure. dennis: violence in venezuela continues following the presidential election. will instability jack up the price of oil? katherine from bulltick capital markets joins melissa and lori in the 1 p.m. hour of "markets now" to discuss. cheryl: all right, mgm spending a million bucks to bring a new york vibe to vegas. that's up in the "west coast minute." dennis: amazon jumping into the tv game. first, a look at today's s&p's
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winners and losers. ♪ @
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ourselves in a large. we take a closer look at the auto sector. the kings in sacramento. california business making an offer to buy the team coming kevin na west coast minute. lights, camera, amazon. jeff raise us a tv producer, that is ahead in the media minute. stocks every 15 minutes, nicole petallides on the floor of the stock exchange continuing to watch apple which continues to
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sit below $400 a share. nicole: so many people love apple, love the technology, love all their products and yet this is a stock over $700 and right now at $3.94, a couple things to know. we start with what is that over this period of time. this is the yearly, all you see is green and red. 2003 it was green, 49%, 201%, 123%. in 2007 you got 133%. all these years over the last since 2003 were green arrows and even last year and gain of 31%. apple shareholders had a nice run. just with jason wiseburg, this is a great buy at this level. and a back up the truck and buy a lot of that. the interesting part is they
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have things coming out, new iphones, the watch, really out of favor with wall street. cheryl: jason back of the truck and loaded up the stock. thank you. dennis: call this a tax game. at least for car dealers. car sales hitting their highest monthly total since august of 2007. the extra cash from tax refunds could be a reason for the bomb and joining me is kelly, senior analyst, thank you for joining us. how is it tax deadline is april 15th usually but car sales might have been helped by o cfo refunds in march? >> we typically see the average fund is $3,000 and with the average price of a new vehicle at $30,000 that accounts for a nice chunk of a down payment. most folks that expect to refund tends to file early and don't wait for the deadline. they know they have many new coming for an head to the
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dealership and we expect those refunds a little earlier and take advantage of low-interest finance rates. dennis: for laggers like me who filed a last-minute you could see a bump in car sales by may. >> exactly right. on average the irs expects you expect to get your refund within 21 days or so and typically what we see is in terms of new vehicles seals seasonal peaks are in march when they get the refund and in may when those who wait for the deadline get their refund. we saw a boost in march and we will see again in may. dennis: we are held by pent-up demand because we stop buying cars and we are sixteen million sell rate annually in a boom and in a bus we went below 12 which is the chart on that. i am wondering did you see this tax refund this happened even during the slump or did not work then and now it is working well?
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>> the bottom of the market in 2009 told ten million vehicles. in that period we saw a boost in the month of march and again in the month of may. that is something you can set your watch to, you will see of bit of a boost. calfs dennis: is this a sale of new cars versus use? new cars easy to get and i can get my tax refund as a down payment. >> exactly right. we see more of a boost in car sales with low-interest finance rates and longer terms available in the fourth quarter, the average term was 65 months or so, and to buy a car and those with the average $3,000 on a tax refund. dennis: carmakers' stocks down today. dennis: cheryl: how much is a car going to cost you to keep the car running.
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$12,000 a year according to aaa's driving cost study, close to $7,000 a year, as you began cost 12,000. because driving has gone up 2% as a result of changes in maintenance, fuel and insurance prices. do not include car payments. and drive and suv, a lot more per year, how drivers think on that. dennis: caffeine is the biggest thing in the study. cheryl: insurance rates are going. 30 years in new york, cost 2 years and was a disaster. let's talk amazon. in my medium and how you could be the big winner in that game. cheryl: 80% of americans planning a summer vacation. it is good for the economy. joining me with which hotels and cruise lines benefit the most from that spending but as we go to break we take a look at the
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penney. and j.c. is an appeal, and a toyota manufacturer, vehicles and united states, this after reportedly being offered nearly $147 million worth of tax breaks from the state of kentucky to reduce the electric vehicle as planned. the automaker will begin manufacturing the deal as early as 2015. anheuser-busch is brewing up a new look on budweiser beer can starting may 6th, the can will have a little indentation in the middle giving you the shape of a ball. that is the latest from the fox business network giving you the power to prosper.
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cheryl: despite the rough economy new survey shows 81% of americans are planning to take a
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summer vacation. about time. joining me for this week's on the road, it is good to see you again. i thought it interesting that americans, people who are visiting, more and more will fly or drive, 25% are going to do both this year is a pretty substantial jump for the site. >> it is. despite the economy and the uncertainties we are seeing vacation travel pick up more this year than last year and the great news is there are deals all over the map literally. and in every travel sector from controls airlines and vacation packages. cheryl: where do you see a lot of your bookings go? which hotel chains? which airlines gain popularity on your site? who is offering the best deals? >> it is all over the map. we see a lot of independent hotels offer the best deals.
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and interesting dynamic going on in the hotel business in that they are not only offering aggressive room only rates but also doing a lot of value add. bundling things in like breakfast, three course dinners, additional value adds to create an entire user experience. cheryl: we saw this graphic, and in las vegas. and in las vegas the hotel rates were down substantially. and $79, i thought the accuracy rates in vegas were higher. this tells me something different. >> las vegas has been hit exceptionally hard. the especially the influx they have seen over the past few
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years. there are other destinations like mattel that's from up that kept travelers over on that site of the ocean. and travelers being pulled other than las vegas to get the casino fix. the rise of indian casinos pull from the local market. cheryl: lots of money on your vegas business, that is stuff. >> the prediction is vegas coming up and slow the inventory. and the room only -- cheryl: you have any mobile apps, the mobile apps gets you
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deals when they get there and that is the beauty about iphones and everything else. >> exactly. as soon as you land you pull up your apps and show you all the restaurants and entertainment available. and landing. cheryl: thank you very much. dennis: copper traded at an 18 month low and gold bounced back after hitting a low earlier this week. was good to the trading pits of the cme and phil flynn. >> they are scratching back here, both higher on the day, something i haven't seen for a few days but if you look at what is going on in the metals right now we have a good option in spain easing some concerns and the weak data out of the u.s. driving down the dollar a little
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bit, but make no mistake, this is an uneasy rally. this market is far from turning around at this point, there's a lot of nervousness, global central bankers talking about concerns that prices are falling too fast and we could be getting into a situation where ideas about stimulus going forward and scaled back. the big news natural gas, highest level since 2001, natural gas the new safe-haven based on the inventory report being a little bit. coming in at 31 versus 34. it entered a new high, natural gas a safe place to be. back to you. dennis: thank you very much, phil flynn. cheryl: chicago to the stock exchange, a quarter till the first talks right now and jason weinberg standing by, nicole was just telling me you were saying to her back of the truck, and apple, because it is below $400 so that is a good one.
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what else the you watching? >> the financial sector, pushing us to the highs by the end of the year, we need to get out of the hole, temporary hole, a huge run, healthy pull back, markets reacted surprisingly well with thoughts earlier in the week. and they get to higher highs and they don't participate and is going to languish for a while. cheryl: morgan stanley is leading financial lower right now and it is all about earnings and the investment banking so we shall see so definitely going to use the truck apple comment. thank you. dennis: in today's media minute amazon versus netflix. 14 new tv pilots for online viewing, follow up as though the only b.c. on amazon prime and pay $79 a year.
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netflix is spending $100 million on new shows like house of cars and arrested development but amazon's gamble is cheaper like $10 million liz small screens made big gains in advertising last year. nielsen says online ad spending grew 10% in 2012 more than twice the rise in television but the internet still got less than 2 said -- 2% of $350 billion last year. and the big bang theory will love this one, disney, new owner of the star wars saga of promises a new sequel every year starting in 2015. we have had six films so far. episode vii will be in 2015 and no. viii two years later, in between those gaps, disney will be movie spinoff in 2016, 2018, already lined up. lawrence cavs and who wrote the empire strikes back.
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cheryl: the vegas strip will lock a lot more like new york city. details coming up in the west coast minute. dennis: look at today's winners on the nasdaq. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and fm national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro.
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cheryl: mgm resorts international will spend $1 million to build a park and private, not in las vegas outside new york, new york and monte carlo casinos, congested
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sidewalks, mr. pull get an outdoor plaza with trees, benches, food trucks and shops. entertainment donor of caesars palace building outdoor projects that will open. take a look at these stocks. rough market day. mgm and caesar's goes to the down side. a group of california investors submitted a formal offer to the nba to buy the sacramento kings hoping to stop the team from moving to seattle. business men, millionaires and teck executive top the seattle bed by twenty-five million. wonder what they will do now. the colorado river which supplies water to several desert cities and communities especially in arizona is being called the most endangered rivers in the nation. non-profit group american rivers has expanding population, fewer inches of snow and too many pipelines in the majestic river's supply. that is your west coast minute. dennis: the biggest swings for stocks in months putting investors on high alert.
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sandra smith has today's trade from the pits of the cme. sandra: technical levels can get wonky but it is important, technical levels especially when talking to the broader stock market. the s&p 500 put together a start that shows 50 day moving average. when you fall above or below a 50 day moving average on any given day it can indicate a change in friends in a market. we traded on an intraday basis below the 50 day moving average on the s&p 500. this is enough to mention because it can indicate possibly that we are going to fall further from here and as jason weisberg said this is a healthy direction. others are looking at this as a red flag that stocks could sell off further. the last time the s&p closed below its moving average we are above the rate right now. last time that happens it was october of 2012 and after that
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the s&p fell another 6% before bottoming out four weeks later just to give you an idea of how sometimes they can predict the friend. looking at the s&p 500 options pits where we saw nearly record volumes on monday's trading session, the s&p, 9%, a lot of freighters are acknowledging it could be a little top heavy and that is why we might be seeing a change in trend. the other red flags, gold prices of all little bit today. the vix, looking at the vix, back above 17, leaned volatility from the trading floor and an increase in volume traders don't mind. important to point out we are below some key technical levels. and keep in mind red flag of further selling.
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dennis: thanks very much, sandra smith. those shouting only happen when the tv cameras come on or is it like that all the time? cheryl: this is an interesting story i thought you might like. twitter has announced it will allow advertisers to create targeted ads based on members''s tweets, usually shown to the target as seen in the mail and some analysts predicting ad revenue to hit 1 billion this year. and the new targeting platform of advertisers and the right moments and the right context. and new way to target, i like that. dennis: many had the creepy feeling one at a friend sent you a private e-mail talking about problems on the dog and and an ad hoc support employment lawyers it is a little creepy as if google is watching you. i wonder if it will be an equally creepy thing. if you look at the content on twitter, the words might bring
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adds for porn or something. cheryl: like you are hash taging super bowl, advertisers from the super bowl will follow, might be a good thing. dennis: high-profile democrats calling obama care a train wreck. lou dobbs weighs in with lori and melissa next hour. cheryl: political chaos in venezuela. will it bring more volatility for oil prices? that will be coming up in the next hour of markets now. laurie and melissa will be here. don't miss that. this is america.
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melissa: welcome back. lori: i am lori rothman. new swings for stalking negative territory, the dow is down 40 points off of session lows, apple shares losing 2% tra


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