tv Markets Now FOX Business June 4, 2013 11:00am-1:01pm EDT
jump seen in seven years, a subscription to "sports illustrated"? absolutely, sign me up, but the subscription to check your luggage? united banks on it with bags and leg room. targeting your smart phone, government officials looking into just how vulnerable your hand held device is to a cyber akick. those stories and a whole lot more on "markets now." ♪ one of these days, i'll fall out this chair. top of the hour, stocks now and every 15 minutes, nicole at the new york stock exchange with what, nicole? >> hopefully it breaks well and not fall.
however, it was fun saying how great the tuesdays were k some of the traders called them take-them tuesdays, but they could be giving back here and breaking the the trend. the nasdaq to the upside and transports are the best of the three of the three indexes, and transports up one quarter of 1% led by the airlines. so far so good as we're not too far off the up changed line at the moment. >> conservative groups targeted by the irs testifying before congress this hour. rich edson is on capitol hill with what do you know, rich? >> one group says their application was stuck in limbo for some 29 months, lost temperatures of thousands of dollars in donations because of that, and others say her application was caught or up for three years, and in the meantime, there was questions of all activity they had done on facebook and twitter and information about future or past
employees, current employees, and a number of donor lists op top of that this is part of the investigation. >> americans werr affected by political intimidation and discrimination cultivatedded by the targeting. at the core, the investigation is about how and why the irs was empowered and allowed to use the broken tax code to abuse individuals based on beliefs, and seemingly, only based on their beliefs. >> so, congress has plenty of ammunition when it comes to the irs, in light of reports of $50 million the irs spent on more than 200 conferences including, i think, the video that we have upright now, certain role-playing games, helping the internal revenue service working for you. that hearing day after tomorrow here on capitol hill.
back to you. dagen: i do not know. thank you, rich. that is the first step to auditing. they come by your house and look in your garage to see what kind of card you are today. all show, but no name. please welcome former irs commissioner. good of you to be here. you say they should be held accountable. we do not have any names. there are two employees in the cincinnati office. we do not know who was
responsible. >> that is exactly right. the inspector general's report was fairly limited. i think all those facts will come out. i am hopeful that people will be held accountable. you do have to do this in accordance with procedures. dagen: what do you make that though, of what i said about a couple of these employees that this was coming from washington? >> i think that if that's the case, that the publicly testified to. those facts need to be established. first, i find this whole event,
string of events, so disturbing. i believe people try to call it right down the middle. what you have here is so years at the lower level in cincinnati where a group of people, i think, lost their minds. finally, leadership at the very top was horrible, in a sense of communication with cars. these facts will come out. then, people will be held accountable. dagen: you were a commissioner from 2003 until 2007. that was not that long ago. how did this management and lack of accountability develop and,
frankly, what is a short period of time? >> well, i am surprised by it. we did do work on political intervention. it was said about my request to look at some of the complaint looking in. this same inspector general look at what we did. while we may have been able to have better guidance, the work was very balanced. we were looking at organizations on both sides of the aisle. churches and charities, as you know, they are prohibited. i know agencies can be fair. i am deeply disturbed that it got off-track here. dagen: we solve the star trek video. we solve the dancing video. what do you make of that. did you have training videos? did you have conferences?
what were they for? now, people are really angry about this. >> well, we have conferences, but they were, let's say, much less lavish and all business. what happened in california is disgraceful. $4 million is what i have heard on that one conference. i cannot blame on lower level people in cincinnati. that is way out of line. employees of the service do not need that kind of training video or goof around atmosphere to know what they are supposed to be doing. that just encourages -- i get that means the employee. i think what was done was horrible.
dagen: mark, good to see. take care. >> thank you. dagen: united continental unveiling a package for bgage fe and me legom. the isf thcompy ar adinup tay almo%. bob anda wilsharhis ough onthis pla ler wh in e sw. you can talk about it now on twitter. would you pay an annual subscription to check your baggage on "american american a?
united continental is number two and baggage fees. would they do it if they would start taking in less money? i say, no. home prices jumping over 12%. joining us now is brian jacobson. chief portfolio at wells fargo. >> i do not know if the air will come out of the housing market as a whole. keep in mind, we are coming from very low levels. in a sense, this is a reflation, not an inflation. i do not think that there is any housing downturn imminence for the entire u.s. overall, we actually think that
the opposing market is in the process and reaching a roof covered point. dagen: what about the fact of higher interest rates? wall that at least take some of the wind out of this? >> and it standards are still fairly tight. as the interest rates to move higher, it does become less affordable to buy. keep in mind, 30% of all transactions in april were for cash.
those types of buyers are not concerned about the interest rate. it will be sensitive to the interest rate increases. >> they are focused on trying to bring the unemployment rate down. there is very little they can do to directly affect the unemployment rate. one thing they have been taking credit for is the recovery in the housing market. those yields and rates are low. as the rates begin to move higher, i think they will take notice of it and act to intervene to keep the rates from going too high, too fast. before i love the fact that bernanke may be trying to take
dagen: stocks now. nicole for that is watching a big acquisition. nicole: we are seeing it to the downside. 52% to the upside. of over $11. pulling back almost 3%. $1.20 add 39.80. this will help to reach their customers on social networks. we are looking at the names to the downside on that one. of 25% in the last year. back to you. dagen: thank you. it is time to make money with charles payne.
he is investing in wellness. charles: i know this is not atypical charles payne type of idea. here is the irony, though. this has become or maybe could become a gross play. it is pretty expensive. these were up huge. gobs of volume. there is a sense of rotation. listen, these guys have been drugs in phase three. they have one ready to go. and last month, they got a couple of fda approvals. i think this spot could really start to take off. now, for this year, we dollars
$0.95. as earning start to ramp up, i think these stocks can really take off. real upside growth. dagen: you picked one, but would you buy the group? charles: you probably could do that. twenty years ago, i thought i would follow a biotech. if you did not go to school for this stuff, you know, it is tough to understand one of the reasons i picked this one out is how fast the earning estimates are going. i like that idea. that separated this from the pack. dagen: good to see you. you look fabulous. i cannot put colors together like that. thank you, charles. charles: it is easy to do it in the dark.
[ laughter ] dagen: i know you lay your close out at night. lawmakers are demanding answers from attorney general eric holder in the journalist surveillance scandal. one of our guests says the president needs to get rid of older now. take a look at world currencies and how they are holding up against the dollar. ♪ everybody has different investment objectives, ideas, goals, appetite for risk.
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missiles have been delivered to syria. syrian president said the first shipment of sophisticated missiles had arrived. any attempt to solve this. war could have grave humanitarian consequences. the miami heat will head to the finals. they will face the san antonio spurs. those are your headlines. back now to dagen. spurs or heat? dagen: spurs. >> i will take the heat because lebron james is from ohio spew
forth of people from san antonio talk more like i do then the people in miami. dagen: thank you for being here. it was a pleasure. peter barnes is on the story from austin. peter: with the explosion, we have seen an explosion in mobile security threats. high risk apps show 350,000 for android alone by the end of last year. it has found fake versions of skype and instagram.
in some cases, app designers are to blame. >> the startups, they are in a rush to get their applications out. it is the proverbial two people in the garage. they do not go to the design testing review cycles that the billionaires do. that makes it more vulnerable outbursts. peter: what can you do to protect yourself? start by backing up your cell phone data regularly. use screen walks with passwords, folks. 64% of users do not do this. you can also download antivirus apps. there are apps that will wipe the contents of your device if
lost or stolen dagen, get cracking. dagen: do not say crap because i will probably break my phone. peter barnes in washington. the cyber threat coverage continues in the next hour. cheryl goes one on one with mike rogers. eric holder, house republicans are not happy with him. not happy with the response they just got from the department of justice. united continental offer baggage subscriptions. bob crandall talks about it with us. why would they do it if it was not a better deal with them than with you? here are some winners on the
is it a good deal for you or a better one for airlines? bob crandall talks to us coming up shootly. right now, stocks now. nicole petallides. nicole: it is good news for fans. home games in particular on their verizon wireless mobile phone. the stock is up. it was interesting. you may remember when netflix ceo said forget tv as we know it. everything will be streaming and mobile. this is right up your alley. another deal to make things more available for viewers. the nfl is working closely with arise and wireless. this is nfl networks.
this is all to make the experience better. it is supposed to be great for fans. it represents 39% decrease of the previous four year deal. as far as what we are seeing on the major market averages, will this be the 21st tuesday in a row with up arrows? this may be the day that it goes down in history. we will see whether or not that dense. the big picture is obviously having a good run, but pulling back today. football season cannot get here soon enough. dagen: thank you, nicole. exports increasing 1.2%. the second highest level on record.
jeff flock is at the chicago export packing company with more. jeff: always like to put the real face on these numbers. we are just about to move a big piece of equipment. it is always fun to see these things move. you ship what, where? >> we ship capital equipment globally but nationally. jeff, this is going where? >> this particular piece of equipment is a vaporizer. jeff: where are the hotspots right now. you said china was hot. it is not as hot right now. >> china is not as hot right now, no. nor is india. companies are in south america, brazil, into the pacific
countries. jeff: they had a real push in mexico. a lot of people were sending equipment down there and then that kind of dried up, went to china, went to india. >> we are seeing a big slip into mexico. i believe it has everything to do with labor rates and ability to manufacture. jeff: also, people have told us, you know, the leadtimes in china, for example, a long way to get something from china. that is business for you if you are sending to china. >> the cost of doing business in china has completely flip-flopped. it is now making more sense to do business with other countries. jeff: what is out for and where are those going?
>> there is a plant that is in ohio. it is currently shipping tandem presses. these will be going into hungary. jeff: interesting. very interesting. they do a lot of, dagen, old equipment. we have the new technology here. obviously, exports huge to this economy. you take one dollar i give it to you and you give it back to me and that is one thing. dagen: let's bring in former democratic senator from delaware. it is always a pleasure to see you. talk about foreign companies actually moving some production to this country. you were talking about rolls-royce. it is not just about domestic
demand. it is to actually export to other nations. >> absolutely. there is a report that was done in 2011. do go back and you look at it. i recommend everybody does. they project that manufacturing will be competitive in china. they predicted in five years. it looks like it is happening a lot faster. dagen: do you think that we could speed it even more, senator, if we did not have some of the regulatory burdens? what else could we do? what else could lawmakers due to generate more, to make this country more attractive? >> the reason i am smiling is because i was on a panel with the head of research of one of our companies. he was talking about doing
business with china was so regulatory. you look at china where they have a food supply nobody can trust. american businesses are lead china because of the fact that they do not have a rule of law. there are a lot of things that we can do. the key to this thing is to let the wonderful system in the united states work. we have a free enterprise system. we have real laws in place to make sure we do not do things like what happens with china with food and products over there. i think we just have to let free enterprise system works. we will be doing well. dagen: really quickly, senator, what about on the flipside, do we need to worry about china's growth?
>> yes. yes, we do. they worsen% for march. this is not good. if they go into session, it will really hurt. we really have to do with these economic issues. dagen: the list goes on. senator, great to see you, as always. you always put a smile on my face. thank you for that. a subscription to check my bags on united, well, maybe not. united is banking on it when it comes to bags and legroom. bob crandall is coming up to talk all about it. the miami heat heading to the
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testimony. lawmakers want to hear from holder himself. a letter is written to a couple of conservatives in the house, but it was not written by eric holder. do you think you goes question will it be his decision or will the president may give for him? >> well, if i am president obama and i am looking at everything going on here and someone has to go, eric holder is the easiest guy to get rid of. unlike the irs folks who will be collecting checks into their old age like lois lerner, it is easy to pirate your own attorney general.
dagen: he has a lot of support in washington, at least from the people within the democratic party. house minority just made the following comment. i have no concerns about mr. holder. he has handled himself in a february fashion. i want to play what he said when he testified before. let's listen to that. >> with regard to the potential -- that is not something i have been involved in. dagen: he signed off on an affidavit for james rosen
e-mail. essentially, accusing him of being a criminal for doing his job as a journalist. if you are on deck and have to do that again, do you take steps if you are in the white house or if you are eric holder to avoid doing that again? >> well, if you can, yeah. take it either way. he lied to the committee or he lied to the judge. he said that about rosen. since then, the justice department has said yes. do not worry. trust us. we will never do that. that is not reassuring, franklys probably a whole lot either then having to face continued questions on these matters.
dagen: let me phrase it this way. if you left as attorney general, if eric holder was gone, would this be over? >> no. i do not think that it would geared when you look at holder, obama is in a situation where people have to start getting fired. holder's approval ratings are absolutely in the tank. it is almost two-one negative. he is easy to get rid of. he is aiding it back to dump on. he obviously is not the only problem here. i do not think the president's critics will give up pursuing something like this. they will not just give up on it
if holder disappears. that is for sure. dagen: david, it is great to see you could more on united's plan to offer subscription services for bags and more legroom's to customers. bob crandall is standing by to talk about it. today at 1:00 p.m. eastern, the new status symbol. a cracked iphone screen. some of today's winners on the nasdaq. ♪ with fidelity's options platform, we've completely integrated every step of e process, making it easier to try filters and strategies...
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dagen: more now on united continentals new idea. it is an annual subscription for baggage fees or more legroom. it starts at $349 per year. $392 for two checked bags for a year. for american airlines chairman bob crandall joins us. great to talk to you on the phone. united continental is on second in the nation in terms of checked bags fees. why would they do this if it does not mean more revenue for them? >> i think it would. you buy annual subscriptions,
but you do not fly often enough to use all of that subscription, assuming normal rates. dagen: bob, do you think that with all the fees, do you think there will be an overall breaking point for flyers: that this makes them in some way choose which airline to fly? the fees have become so plentiful, if you will. >> i think if you look pretty carefully at the industry, you will find that there really is not much differentiation. they have pretty much cracked one another. dagen: how healthy is the airline business right now? >> the healthiest it has been for a long time. [ laughter ]
dagen: that is a very good point. how much more can they cut? a lot of small airports do not have martial air service anymore. how much more can they can't? the planes are full. now they have to come up with other ways to come up with revenue. >> of course they do. you can continue to eliminate and will continue to eliminate. dagen: bob, in terms of, to get back to the subscription fee from united, is it in part a response to the idea that flyers are tired of being nickeled and dined? it is kind of changing their
perception of some of these airlines. >> i do not know that there is much to that, but i think there are a great amount of people that plied very frequently and too would like to avoid that incremental transaction. the consequences, i think, it is not only a breakage play, but it is also but in a way, a form of frequent flyer attraction. dagen: bob, how do you rate the flying experience today? steve i think they'll flying experience is fine.
i think i'll particularly, the dirty experience is unsatisfactory. dagen: i love the patdown. [ laughter ] anyway. bob, thank you. mike rogers is coming up. he wants the president to get help with china about hacking. organizations targeted by the irs. republicans are in danger of snatching defeat from the jaws of victory. dennis and cheryl are up next. ♪
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dennis kneale. dennis: the dow has finished on 20 consecutive tuesdays it is with averting on the late to its 20 first. when an investment adviser who says it is all luck to the fed. cheryl: cyberthreat, mike rogers joining us exclusively to discuss china's president future acting will not be tolerated. dennis: conservative groups targeted by the irs, political analyst says republicans may be in danger of overdoing the outrage and snatching defeat from victory. cheryl: first we have this. it is time to get tough on china. lawmakers on both sides of the aisle and urging president obama
to issue the term morning to the chinese leader when they meet later this week in california. and the rampant cyberespionage campaign compromised with defense secrets but white house officials said yes to act. joining me for a fox business exclusive interview from capitol hill one of the loudest voices pushing for a dialogue with beijing, chairman of the house intelligence committee congressman mike rogers, wonderful to have you here. this will be tough road for the president. how does he strike a balance with a real threat when it comes to cyberespionage with the economy who is a crucial trading partner to the united states? >> absolutely. you can continue to have a positive trading relationship when one nation is literally stealing billions of dollars of intellectual property, repurchasing it and trying to
compete artificially against our economy. that cannot continue. we have to have some dialogue that changes that and there have to be consequences of i think is important for china has it is the united states to get this right, that the president be very bold about saying no longer will there not be consequences to what is unprecedented in history of the world. cheryl: even the u.s.-chinese business council says this relationship has to continue and the world's biggest companies are doing business like google and themselves potential targets of espionage from china so these companies are saying we have to tread carefully, the president has to tread carefully. how do you respond? >> the time for treading carefully has gone by. the company's you just mentioned have been victims of cybersp and dr. oz by the chinese. one american manufacturing company estimates that have lost
25,000 american manufacturing jobs. you can't play for the next quarter. we got to play for the next generation and if china is going to join the world following the laws of commerce we have to do it now. they are not a consumer economy, they can export economy. if you're going to have leverage on the mid is now. if we continue our relationship that is beneficial on both sides you need to be tough now all. this is a crutch for them. this is a crutch that they have got to grow at 7% to keep up their social programs so they are not doing it by innovation but that the. it is unsustainable in our economy and not good for their economies so this is the time for tough law. cheryl: the issue of intellectual property by a chinese against american companies has been happening for decades but we do a dance with the chinese but you have bipartisan support even though the house bill failed in the
senate, the original bill, senator carl levin wants to see imports blocked from chinese companies or chinese products that may be benefited from cyberespionage? would you support that? >> we should put everything on a table. we have an initiative later this week that speaks to a lot of issues. it will be bicameral and bipartisan, steps up and says there has to be consequences for your outrageous behavior and i think everything should be on the table. make sure conditions are right, don't want to run around with our hair on fire and make accusations weekenddproved but at the same time there needs to be consequences. this isn't one industry or another industry or one sector of the economy, it is across the sector from pharmaceuticals to parts manufacturing to high-tech equipment to social media sites and it is growing, not getting smaller which tells you if you don't have something tough up
from the won't change the equations. they think it works for them and just talking about it in and of. cheryl: the chinese government continues to deny even though several media reports that media companies are being targeted, but let me ask you this. do you believe behind-the-scenes in this private meeting between the two presidents that they can make progress. without the press, the glare of washington did you think anything can move forward? >> when you talking about cybersecurity i don't think so. you need something more firmly to the public embarrassment of a public report on identifying one particular place, one slice of cybersecurity efforts only stopped them for a few days without real consequences they are not going to change and this is our opportunity to say guess what, real consequences are coming.
let's have a dialogue based on real consequences, not just bilateral. >> thank you for speaking to fox business exclusively on this. thank you. dennis: time for stocks, nicole petallides standing by on the floor of the stock exchange. we are in danger of losing the supertuesday streak. >> something we have been following closely, doesn't mean much of anything other than the fact we are running hot on tuesday. this would be the consecutive winning tuesday for dow jones industrials but that is in jeopardy. we are down 13 points. one reason is energy stocks like chevron and exxon weighing on the dollar and home depot is a big last year and a lot of names pushing merrick 3%, talk about a cancer drug they're walking on, and intel and other names leading the way on the dow jones industrials, the dollar strong, commodities mix, bold pulling
back, verizon working on a wireless deal, that is good news, salesforce with the merger and also a ig and gm joining is an be indices this week, we have a lot of action happening and friday the all-important monthly jobs report so that will be seen as well. a la we are following on wall street but as you noted we may see that back to the winning streak. dennis: thank you very much. cheryl: the ira scandal take another turn as groups that were under focus testified before congress, rich edson is on capitol hill with the latest from that hearing. they finally had their say. >> they do and some are awaiting their applications to be processed. this hearing was on going, the inspector general with the treasury department is looking into this issue, has released
another report on somewhat different issue on spending millions of dollars for her on conferences, $50 million to 220 events, one such event in anaheim, the report says there is no assurance it didn't cost more and that was opposed to hiring more enforcement employees, $50,000 on video so the irs couldn't say what that money went for, $35,000 on 15 outside speakers including 17 for a keynote speaker his presentation involved painting portraits of famous people and $64,000 in gifts. back to this event on capitol hill they are discussing the number of conservative groups, what experiences are applied for tax-exempt status with the irs. >> i am not here as a search for a vassal, i m not begging my lord for mercy. i am a born free american woman, wife, mother and citizen and i
am telling my government that you have forgotten your place. it is not your responsibility to look out for my well-being and to monitor my speech. >> some groups saying they experienced 29 months, 3 years getting questions asked of who used to work for the organization, and facebook activity, twitter activity and experiences they have been going through over the last three years many of them saying they have yet to get an answer for the internal revenue service and weather is improving or denied. >> a big story we will stay on. thank you. >> republicans heading the field day with these iras hearings but our next guest says the gop is overplaying its hand. and the chief political strategist, thank you for being with us. if ever there was a time for republican outrage this would seem it. this would be a risk. >> everybody is out rage.
everyone who followed, yesterday, the white house spokesman jay carney was a paid why even john mccain had to repudiate that. is now saying this has been directed from washington. where is the proof? sounds like joe mccarthy. they have a great case to make but why over pull your hand? >> have they in congress in either party begun to look up from the irs bark on the free. at the force to figure out whether political opponents of the obama administration were targeted by more agencies than just the aristide don't we have other instances of republicans being targeted by the labor department, customs? >> could be. don't know if these are rogue agents, this is as far as it goes. not just this iris issue but the economy, my recommendation to the republicans on the economy
to declare victory, such filing, spending is under control yet the narrative is so negative i don't think it is that much. >> on the irs case what will be the ultimate fallout? have there been enough resignations? will criminal charges result? >> here is the big one that come singh, republicans especially in the house will pass legislation to stop the irs from enforcing obamacare. what a toxic combination. the irs and obamacare. i am not quite sure of the senate, beyond that there are real implications for the 2014 election. republicans chances have improved greatly in the house and senate. dennis: you say we don't prove there's a link between the irs targeting and pull white house but that report broke about the irs chief going to the white house more than the one hundred visits over the past year or two more so than any other cabinet
member, and did that into a clear picture of white house involvement. >> almost as if darrell issa is declaring them guilty before getting the facts and in particular if it does run the risk of being prosecutor before the evidence is even in. >> republicans might do well to listen to that warning. thanks for being with us. cheryl: coming up in the next hour a firsthand account from becky garrettson of the tea party group targeted by the irs, joining an 1:00 eastern time today. we are kicking your twitter responses on this tour, a new take on airline fees, united continental offering subscriptions in $439 for an entire year, and some more legroom for the entire year. dennis: i can't even believe the
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cheryl: can the dow make it to its 20 first birthday, the last 20 tuesdays, consecutive gain for the dow, this tuesday it is jeffrey, 16 points, long way to go, biggest one day gain for the doubt in a month, merck beating the dow, and as you can see here is home depot, and it is driving the dow down 93 points. let's bring innnicole petallides
on the floor of the stock -pexchange. would you watching? >> we watch the dow jones industrials, today if it were to be the 20 first tuesday in a row the dow finished higher. one reason we managed to do that is the unchanged line, merck and intel maintain these up arrows two days in a row. merck has the story pertaining to mellon nova, a cancer drug that doesn't allow them to expand the length of the issues so that is good news and the atp virus, a vaccine. intel has two reasons it is higher. samsung says the tablets will be using -- and analysts who operated for market perform an from market perform to outperform a price target of $28
a lockable good reasons you see intel with the up arrow, and 33 points to the downside and 80 points. >> what do you subscribe to these games that a 21 consecutive days, it is fun to watch this kind of milestone. thank you. dennis: time to make some money, charles dean looking at lulu lemon. charles: do you have clearance for that? stock is up to date. stock is up today because i got to tell you lulu has done a fantastic job communicating through this entire scandal. they can and out and said they hired university researchers develop a cherylmeter. and getting to the bottom of your pants and in the meantime, the pattern, horizontal and
vertical pattern could be changed. and designed to stretch. and assure it becomes. and the owners might be on you, the aggressive blue pants where. when women went to texas or insist the displayed then. and we heard one or two stories like that. my wife took a pair of pants back. and this is on the web site today and that is charles: very aggressive. people love this stock, people who shop there. last year they opened 30 or 40 stores. i look at retailers every day. i never see a retailer that didn't have to close a store.
the stock has regained momentum and the street will have to adjust their earnings estimate. wall street has missed the move to get on board or continue to miss it. dennis: turning a bad thing into a good thing. cheryl: here's a tough sell. despite austerity protests, rising unemployment, it may be the right time to invest in greece. the stock exchange making his argument to investors joining us next. dennis: new levels of brutality reported in syria with both sides accused of massacress and more, details in your fox news minute. and the world's currency, all those red arrows mean the dollar is stronger.
or both. in turkey the government is apologizing for the violent crackdown on demonstrators. deputy prime minister says the raid on protesters who are a angry about plans to develop his temple's largest park was wrong and unjust. few people reported dead and hundreds as injured as anti-government rallies continue for a fifth straight day. the debt of new jersey senator frank lautenberg% chris christie with a tough decision. if he picked republican to fill the senate the voters who chose lautenberg could be angry with him. defeat the democratic be seen as disloyal to his own party. chris christie will have a news conference in the next hour and we will see what questions he gets. those are your headlines. cheryl: his own personal sophie's choice. cheryl: protests continued greece as unemployment stands at
27%. the jobless rate at 62.5%. creek gdp fell 5% in the first quarter from the year before. all of this means economic challenges mean the right time to invest in the country of greece. i'm joined by the chairman of the athens stock exchange, socrates' rodriguez. thank you for being here. you are here in new york because many investors are putting their money into greek companies. why do you think americans are taking the risk that is greece? >> the greek economy is rebounding, there are clear siins the economy is rebounding and of course having the ability to invest in debt e.u. country with investment opportunities in emerging markets, professional investor, as we see, the
investors are having 50% of the greek market, i would have seen increasing interest in the last two quarters and pull investment of fallen investments and more of them. cheryl: let me ask you this. they did recent peace a couple days ago and said places like greece and ireland, there are opportunities for u.s. investors and even u.k. investors but looking at the euro zone overall there's backlash about austerity. how is it going in greece with regards to austerity? do you find you are over the hump or do you feel the economy is under pressure in greece? >> most important outcome of two years or more of austerity and discussion of the economy is everybody is realizing the problems and how they must be resolved and this is the
benefit. now in order to have a problem in production, we have to boost the growth. this is in the interest to show investment opportunities for those -- cheryl: how do you do that when you have got major groups coming out saying seven years of recession in greece but 2014 is still going to be a recession? how do you create those jobs? it is those young unemployed in the streets. >> i don't see how we will create -- we have to professionally provide information to investors to understand how they can invest in greece. in the global environment they exist. cheryl: the exchange is doing very well. year over year the exchange performance is up over 100%.
you today to over 11% so you have numbers behind you. >> you have to mention potentials, more than 80% to cover the 2007 picks. we cover it at 100% but have -- cheryl: if you look at the five years chart it looks better than a longer or shorter term. if lee you ask this, this is not your area of but when you look at a situation like turkey and what happened, just downgraded cyprus, these are your neighbors, these do affect the overall economy of greece, especially the balance with the scene in turkey. do you worry about that or put aside? >> i don't think we are living -- the situation is similar to
decays before. now this ability, the most important ability that we have all around the world. of course the issue, the economic effect in the area, in the area, this will give a perspective for a better economy in the future. cheryl: the exchange now that you are courting u.s. investors when you are in your, the chairman of the athens stock exchange, thank you. dennis: prices are seeing their biggest gain in seven years but the fed is about to spoil that house party. cheryl: have you heard the miami heat moving on to the nba finals, we will take you to south beach where one hotel is born to attract the stars of this, and the treasury market,
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it. cheryl: another super tuesday or an end to the street. the dow moving lower on what many hoped would be is 201st consecutive tuesday when. but as the economy recovers, luxury travel is coming back. it will take you to a south beach where much of us are being pampered the reader will talk about cashing in and staying at luxury hotels. speaking of travel, united continental offering yearly subscriptions. $3.49. secure first bag free for a year would you buy an annual subscription to check your back? tweet us. who will read your answers coming up later on the show. you are on it. bottom of the hour, time now for stocks. nicole petallides standing by.
>> reporter: some interesting news happening here on wall street. first lets take a look at what general motors and aig, to name that obviously help from our government back during the financial crisis. we are watching general motors and aig. there will be entering into s&p 500 indices on june 6 after the close. one hundred with the edgy and 500 general motors. some names on the move, dollar general cannot. the outlook has reached previous scene that. gaining. and it monster beverage accelerating sales. some people actually want caffeine. dennis: all right. i could use a little myself. thanks, nicole. reported the biggest yearly gain from prices in over seven years, up over 12% in april. despite that good news our next guest says housing could be in for some major shock due to the fed. financial director of investment joins us now. he said the mortgage market
right now is artificial because of the fed and that the taping of mortgage-backed securities may be could be a catalyst in a bad way. please explain. >> is still going to be the catalyst for the year. but use of the mortgage rates jump tremendously last week over a couple of days. that was a shock to the system. it could very well happen if the fed does pull all of the bonds from the table. it does happen in a way that a larger percentage increase, it might choke off some of the demand for housing. i don't think it will totally choke off, but it could be a problem. dennis: we are showing a chart, mapping at the average 30 fixed year rate and in every region it is below 4%. to those who worry so much about interest rates going higher and hurting on prices, i mean, home prices were -- home sales were really good at a time when interest rates were at six and 7%. 4% isn't going to kill housing
sales in the willis? >> i don't think so. at think the people who have a nice enough down credit and have the proper credit rating will be okay and will buy. they have taken a lot of excess credit of the market. we're back to the point of seeing pretty solid demand and housing. job creation, people getting their financing for housing in order. housing will be okay. dennis: i have to ask you about another thing. every deeper into your notes. the fed pulled back on some of the spine of these bonds to keep interest rates low. the pullback is good for stocks, even though every time we see speculation stocks tumbled. how can it be good? >> if we see interest rates go up because the economy's getting better, that would be good for stocks. i think that we saw a little bit of that last week. the economy did get a little
better. we are seeing some consumer consumption is not where we wanted, but some positive data out of manufacturing and energy. if the interest rates go up because the economy's getting better than i think that will be good for stocks. i only thing the fed should stop where quantitative easing if it's for good reason. economic growth and more employment. dennis: we haven't thought about that. they might pull back all lose money because of good things. all we keep thinking is we will get slaughtered. no one last moment, utterly unrelated. you can monitor before talking about coach stock. of 5%. i guess the only problem is they're doing there clocks cleaned. >> yes, it is. i think that is a hassle that they're going to have to face. there will increase their merchandising signature. they're doing a good job overseas in china, but they're facing a huge competitive. i do think that there is a
position in retail fur coats and there will be okay. in the near term it has been hectic. at a ratio below one i think the stock is worth throwing some money at. dennis: what is the arrival ratio? do you know, of santa? >> it is closer to one as well because that is a very fast-growing company. it's a new company. dennis: all right. up only 6 percent and the other stock 20%, think would move from one to the other. thank you for being with us. >> thank you for having me. cheryl: the miami heat moving on last night. that is great news for one exclusive south beach hotel that is a favorite. we are going to show you some. coming back. a look at one exclusive south beach hotel. dennis: end of verizon shares go higher, maybe on a deal to bring nfl games your smart phone. my medium and it is moments
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♪ >> reporter: i'm jo ling kent with your fox business brief. shares of general motors are running higher after they said the other maker will be added to the index after the closing bell thursday. gm will replace. being taken private by berkshire hathaway. gm stock may not be the only thing that is on the rise. safety regulators are looking to
hospitality group ceo, operator of the hotel where some of the biggest names are certainly going to be staying. it's nice to see you. you have one of the hottest properties right now in south beach. everyone is flooding to your property to state. how excited are you about this? >> extremely excited. we have been home to celebrities for year-round really an worldwide as well. but this is a particularly happy time for miami and a busy time in miami. the energy and the excitement of miami and south beach are making it contagious, less exciting. cheryl: the property is fairly new, lecturer property. really a lot of your visitors are coming from the middle east. middle eastern royalty staying there. european heads of state. what do you think the international crowd says about this? >> we are by nature an international hotel company. 60 percent of our guests are
international and 40 percent are u.s.-based. but we go beyond the middle east and beyond europe. we have a very good market and for the product that we offered in russia, brazil. so we tried to diversify our markets and not depend only on one market. cheryl: first quarter sales for 2013, you were ahead of plan. you're a private company. you work at a plant. that market is coming back. >> it is very strong. all the signs and as i call them, occupancy, average rates, profit margins, follow-throughs, it's all trending upward. we are extremely pleased with the year so far. cheryl: the number one hotel in miami. u.s. news and world report. put you on the goal list in 2012. does that equate to more revenue at the hotel? do you think that is ratings and listings matter?
>> they do in a sense. it's almost like a reaffirmation of the decision that you made. it is confirming that you made the right decision. we still have to produce the excellence and have the pressure to live up to these awards and recognition as. cheryl: what do you think will be the future for south beach? it used to be that it was maybe one or two seasons for florida. it seems like miami in particular, it is year round. television shows being filmed. properties like yours that are full most of the year. i mean, is that the way it is going to be? >> miami is no longer a seasonal city. it is a year-round resort, a vibrant, exciting, energetic city. and the city itself is very savvy in creating events and opportunities for people to enjoy beyond just the beach. cheryl: i do want to let our viewers know, if they want to stay at the setai, 65 is the starting rate. what does that give me?
>> ten dozen square feet of absolute and exclusive luxury and oceanfront. cheryl: always check it's a sign me up, but i will read about it. thank you very much. dennis: time for stocks now. now it looks like you guys are going to blow this. >> well, we will see. a long time left in the game today. the market has been a little volatile out with all the numbers. the fed had speaking. a couple more do today that will hit the tape. so you have to be a little bit cautious. right now if you had to place your bet you don't want to get it for that 21 today. dennis: you know, we had a guest of honor earlier and say that if the fed started to taper back on that lose money policy, it does that have to be the end of the world. >> absolutely not. it should be a positive. what you are seeing in the stock
market, everyone is looking for a correction. we have seen a correction, but only in the utilities, the dividend paying stocks that are a direct result of the aggressive money managers who are in the u.s. place, whether it be in the u.s. treasury market, utility stocks, high-paying dividends stocks. they have seen a correction. the other markets have not quite seen at speeds up the has been a little bit difficult to discern whether has been a correction are when they start to taper off the economy is strong. we will justify the place that equities are trading at now and actually make eckersley cheap. it's a luxury problem to have. they stuck to taper. dennis: when the fed tapers that could make equities look cheap here. i like that. thank you very much. good day. cheryl: well, i good day for oil now the contract is heading higher. said to the trading pits of the cme. what you watching? >> reporter: we are watching this big reversal. oil prices were weighed down
earlier because of the rising dollar and the high supply. everything snapped. we had this big rally. a couple of reasons. one is that a tropical disturbance down in the gulf of mexico. one private forecaster says that this tropical storm could actually get into the louisiana post. others are saying probably not. step one forecast. now, the other thing that people are talking about is geopolitical, which is the concerns about the sarin gas used by syria. defense foreign minister says it should not go unpunished. cheryl: you are watching. i am assuming that as well. all right. thank you. dennis: "media minute" time. china's movie censors have turned thumbs down on the new brad pitt zombie don't world wars the. they said that could defy paramount from premiering this
sci-fi and effects to the second-largest movie market. cost 200 million to make. that doesn't stop harry potter from opening. in a nation that is still haunted by the brutal crackdown on protesters in tenements square in 1989, maybe something did not sit well with the of those disturbingly realistic images of course if humans overwhelming all societal controls. i'm just saying. and you're ready for some football on your smart phones green? verizon signing a billion dollar four year deal with national football league for all games to be aired on verizon smart phones, even the super bowl. a 40% price increase over their previous deal. it has tv partners. espn, fox, cbs, nbc, direct tv, but at least it will get football attics of the self. cheryl: i can't imagine what
commission's regulation after he paid for and was allowed to build the massive wedding structured. waterfalls, fake ruins, even a huge stands for. and next time you stumble down smile because you are on camera. in the 2000 telegram, up 37 surveillance cameras are being installed. authorities will monitor versus positivity like abandoned vehicles are packages and will and deadly pick up other activities as well. that is your west coast minute. dennis: will be staying in vegas. we ask you to weigh in. would you pay annual subscription? here are some responses. cheryl: he would consider it. access to lounges, extra miles.
dennis: a better deal. there response. depends on how much the unlimited labor cost. the prices reasonable. al amelie para could yet.caug te alabama anti party president. he will join melissa and lori coming up next. dennis: that's pretty timely. in tech cheap or just plain cheap. teenager's smashing i've bounced and using i've won't -- choppy stick with them and. the cracked iphone craze.
cheryl: thank you for joining yes. >> the first an account from an alabama anti party president says she was denied tax-exempt status for years. she will join as after her testimony today on capitol hill. lori: starting your smart phones, government officials looking into just how vulnerable your hand-held devices to a cyber attack. melissa: air travel fees may be going up again. if they do, we won't have the airlines to blame, only the government. why teens are intentionally breaking their smart phones, in the name of being cool. lori: cracked iphone, tech chic or just keep? what do you think? i'm lori rothman. this is melissa francis. we will read some of your tweets a little later on. in the meantime, let's did you set up at the markets. first trip to the floor of the new york sto