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tv   Markets Now  FOX Business  November 5, 2013 1:00pm-3:01pm EST

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gigantic debt. lori: the future of the republican party comes down to two governors' races that will be decided tonight, when in new jersey and the other in virginia. adam: chocolate, vanilla or jellyfish? the new ice-cream power that will have you reaching as far into your wallet, $25 a scooped. it is like chocolate cake. we will bring you the glove in the dark ice-cream, you will meet the inventor's this hour. lori: a busy show ahead. let's get you updated on the market with a trip to the floor of the stock exchange and nicole petallides. the dow briefly erasing a loss of 100 points. nicole: i would buy that for my kids sooner or later. the markets have really come of of the lows. the s&p 500 hits support levels, 1755, managed to bounce off of that.
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dow jones industrials down 117 points and those losses down 6, the nasdaq composite the best group to dance names like microsoft and cisco doing well and the nasdaq is one of the 3. we got a weaker forecast in europe and that weighed on things around here. and cbs, a care markets briefed via outlook, and the fact they have participation of public and private health insurance they say list revenue going into 2014, isn't that nice? up 2.7%. it hit a new high at $64.44 and they noted the process more prescriptions for new clients which was good news. let's watch traffic with competitors noted traffic for items falling to a certain extent. adam: so far 2013 is the strongest year for ibm ands
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since 2007 with tech companies featured prominently among those going public including of course twitter. they start trading thursday but how worried should an investor be that several of these are not even profitable? for is that they turn to john molloy, a co-founder of blue run ventures, joins us for fox business exclusive. we were talking in the green room that twitter is doing this correctly where facebook had its problems. what are they doing right? >> it is all about expectations. facebook give in to too much expectation when they went public. from a strategy point, the offering has gone, twitter has been very measured in the way they have taken the product to market and a range i have seen reported has been pretty reasonable given where the company is and we know it is oversubscribe and that is what you want and it looks like a win/win than a win/lose
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proposition. lori: why is the trend going to the early 90s and 2,000s with technology ideas coming in. and if you look at the p es they're so overvalued, you see what happened with facebook year-ago. >> it is ultimately about growth. a slow economy, low growth economy and the markets thirsty for growth. where you see growth in areas where there is big change in society, no bigger change in the way we consume basic technology than with mobile. twitter is well-positioned with two streams, two trends, one is social, and really it is the mobile type application that makes sense. millions of users around world. it is an area where it is fitting all people consume and the growth pattern you see in the markets.
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lori: we saw that with facebook earnings rep reeenue especially on a mobile platform. >> that is where facebook ran into a problem, the market doubted whether their strategy was for mobile. this is a product that started in the old era, the desktop which is the roker dolphin. it is about whether the growth is and mobil land twitter is in a better position at that time, facebook has done an incredible job from what i have seen catching up and proving to the investors they have a mobile strategy that is viable. adam: this statistic is 61% of the ideas are not earning a profit. if you are buying on thursday, betting that they start having net income pretty soon and can we trust that they will? >> i can't comment on their
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financials, and you probably know that better than of. what you do know is the trend of consumption, definitely going to be increasing. lori: having said that we have the facebook debacle, we know the new york stock exchange did a run through of twitter and there is this ongoing conversation debate of twitter, is it as strong a company as facebook and we discussed that year, is it fair to compare because facebook was such a large offering, many times we see from twitter, we look at the ad revenue potential. can you look at facebook and save this is how they all ended out and made it right and expect the same for twitter? >> great point. very different companies, i think they are complementary. they are not really that related. when i look at twitter what i see is they have become a great
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school for media. it is a means of communication for hundreds of millions of users around the world. when i look at facebook it is more about their network. when a delicate twitter it is all about the social signals, more of an open network and the social signal is increasingly relevant to a lot of other companies as well, advertisers. adam: i wish we ask you a follow-up question but we are out of time. people want to know will they make money? i am begging you think a will. >> appreciate your being here. lori: chinese tech giant can sense beating for a slice of popular u.s.-based mexicans application snap chat, a move that would up the value of the photo sharing apps to 4 billion usd according to wall street journal. >> this is the latest in a series of quiet moves by two chinese companies to broaden their influence on the u.s.
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attack scene. $0.10 will lead and $200 million fund-raising around in snap chat according to the wall street journal after $150 million investment round joined a group of investors, put $2 billion into getting company activevision for 20%. and riot gains and epic games, then you look at china, making big moves as well recently investing $206 million in to shop runner. these moves make it clear they wanted peace of the american tech high and a chance to expand their influence into new territory and win new eyeballs for their own products, that has two thirty six million monthly active users mostly in china and could be interpreted as a player to complete -- with the snap cat application. the opportunity for u.s. tech companies to have the attention of chinese the mets should
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certainly pay off in big dividends offering potential opportunities for companies to tap into china which is mostly off-limits due to strict censorship by the government, they have strong relationships in china to perhaps foster business partnerships that could help american technicians cash in down a road. we reached that as always we do and they did not respond to questions this time. lori: we appreciate the report. thank you. adam: samsung hosting its first analyst said that will include presentations from the heads of mobile devices and tvs and the big question that is bound to come up weather samsung will eventually be shared in the united states making it more accessible to investors here. a tough year for shareholders, the stock is flat despite three 3-quarters of record profits. lori: pour yoda looking to its future unveiling designs for a concept car, it will be on display at the tokyo auto show,
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changes, but according to the driver's mood. the company says they are figuring out the extent to which the car will read emotions. adam: the 1970s mood ring and it didn't do so well. that you fill up your tank lately? gas price is taking a smaller it on people's wallets with october gas prices at their cheapest monthly average since january of this year. sandra smith joins us with today's trade. some people are happy about cheaper gas prices but not everybody. adam: >> when you think retailers jumping for joy if you extra bucks in their pocket they're not spending on gas but they spend in the store. i want to hit on oil prices right now because the trend to the downside does continue in the energy market, oil prices down $1.37 hitting a low level since the beginning of june, four month lows and that is translating to lower gas prices.
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trades at the cme, hitting 22 month lows in today's session. energy prices continue to the downside and here is will be looking at, the national average, aaa reporting the average price for a gallon of gasoline fell overnight to $3.24, that is down $0.11 from what we were paying a month ago and $0.23 from what we were peer and a year ago. and that is the average 24, there are a five states seeing state average below that big $3 mark from missouri, oklahoma, arkansas, texas, according to, tripoli reporting ten status by the end of this year are going to see the state average at the bomb below $3, and expect the national average to jump below 310 at the end of the year so a lot going into
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this, will prices coming down, stronger u.s. dollar in anticipation of the fed having its stimulus program. this is what we see oil and gas prices soaring. talk about maybe seeing $3 as a national average. connell: wasn't long ago, the rock talking about never seeing that again. sandra smith, thank you. lori: we don't know exactly what was going on with the economy considering the shutdown, the government data being delayed, the cheaper gas considered a tax break. adam: republicans need a break and the future of the republican party facing what some consider a test as voters head to the polls in new jersey and virginia to select their state's next governor. webmac says investors in neutral as automakers earnings reports, quarterly profit, tell you to watch out for.
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adam: we all scream when we see jellyfish ice-cream. the real scoop on a new glow in the dark street. . treat . . when we made our commitment to the gulf, bp had two big goals:
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adam: watching shares of tesla pulling back ahead of earnings due after the close, the electric carmaker swinging to a profit. and another key number, the number of cars, the number just over 5,000. and the stock was up 4% this year. and the big move that result, and 4.6%. lori: let's get nicole petallides from the floor of the stock exchange. >> such a great performer this year and today in particular moving to a new highs 6.4% to the upside, a gain of nearly $5
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today and you today up 50%. the great performer takes market share away from some of its competitors. and profit jumping 49%, and raising full-year revenue guidance, that is great news as well so it is an unbelievable performance and continues to shine. adam: charles and why were trying to figure out can you get a watch for $2,000. charles: this dovetails with what nicole petallides is talking about, driving watches, there's a sweet spot in watches, it is expensive, aspirational, not a rolex but not cheap, concord, the esquires are not expensive but they do have collaboration's with things like that, you still have these big
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old school watches, the kind people are buying particularly women from michael cores and things. they are enjoying that as well. there is a stock, the third time mentioned it, one of the first stocks made an amazing performer, still love valuations are such that you could be up by erebus stock. it is in a sweet spot, execution has been magnificent. adam: what happens when one rubble technology becomes more prevalent? we are waiting for the apple. charles: you can argue you don't need a rest watch because everyone has one but people buy them weather for a fashion statement whenever, with the raiders out of habit but it is not going away, we are not talking about of multibillion-dollar industry you have to worry about. it is the niche business. last quarter they did the one setting million dollars, are trading margins with a 12% from 9% so there is still growth. i encourage people, it is a little bit of a side story, go to the web site and read the
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story, kids out of cuba escapes' castro, and comes to america and makes good, fantastic and inspirational story and i like the stock a lot. temecula of the personal stories behind companies. is there a direct correlation? charles: when i find these companies with people that started with nothing, these companies stay successful as long as -- lori: our people replacing their fancy watches? charles: i don't think so. the fancy watch business spending on dumb, advertising went through the roof, their advertising around world. the chinese market took a hit but there is an anti-western movement in china, all the luxury brands, great story but demand rum world has been phenomenal. adam: thank you. we have got elections and referendums in key cities across the country and we will run down the key ballot issues as voters head to the polls today. that is next. lori: don't miss oliver north on
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a spying fallout from edward snowden. could be ennis a leader's actions the rail the $3 billion transatlantic trade deal? the latest as ed snowden says he is a hero, not a trader.
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>> your fox news minute, a prosecutor reported lisas authorities were familiar with issues that are drug problem. and the gunman who ended the garden and fired multiple shots. and he shot himself. and employees were trapped for others. survivors and two planes lucky to be alive after colliding in mid-air in northwest wisconsin which one plane was destroyed, and skydivers from both planes jumped 3, the pilot of the second plan landed safely. those are your news headlines on the fox business network. back to lori and adam. adam: two sticks, clues to the 2013 midterm congressional elections. rich edson has more for us.
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>> they usually attracts national races in virginia as it has grown more moderate. not usually the case in new jersey. the status reliably democratic, they're the only ones with on your elections and with the republican incumbent and sizable lead in the polls, experts pouring the results in both states for implication on next year's midterms and the 2016 presidential elections. analysts say virginia, not governor and control of the republican party. democrats tended the republican candidacy as an out of touch tea party conservative. >> the shutdown was a bargaining chip. should never be used as a bargaining chip. and obamacare, one way to do it. >> terry is a close ally of former president clinton, 46 to 40 be over kucinelli and there
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libertarian candidate at the prison. and it is overstated, expected to be low. colonel peer at has governor christie up 61-33, and wins big. a question of the presidential candidacy will intensify. lori: the fallout from the nfl he's in scandal and what some call rookie task. >> the largest search engine google is launching a health to service today. lori: rainbow sprinkles just don't cut it. me men behind the most expensive ice-cream out there today, it will set you back $225 exclude. even glows in the dark. adam: he will join us next to explain how it works and how you can make it cheaper version at home. ♪
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adam: just about 1:30. we want to check stocks again. we will head to the floor of the new york stock exchange and our that. nicole? >> all right. well, we're bringing you over to pandora where we take a look at that stock. what we've seen with pandora there has been some improvement within pandora not only for the active listeners but those listeners actually expanding beyond the hours. so when you start to talk about more listeners, more hours, despite the fact that they have competition, right, talking about i radio. let's look at the stock as i approach the post. we're looking at it. why don't you pull up a board of it because we don't have it ready for you here but it certainly has been a stellar
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performer. we're watching that in particular. and we're also keeping an eye on the markets. a moment ago i was looking at dow 30. earlier today, just a couple of tech names that had green arrows, such as microsoft and cisco. now we're really seeing market breadth improving. after the dow was down 117 points, now we're seeing the dow jones industrials up 2 points at the moment. market breath as i noted really improved and more than half of the dow components actually have green arrows. that's the latest. adam: thank you, nicole. lori: how about this for your next birthday party celebration. glow in the dark ice cream. you will never guess what is powering the frozen treat, jellyfish. charlie francis is owner of a company called -- adam: you get to say it. lori: lick me i'm delicious. he joins us from bristol, england. great to see you, sir. >> hi, there, how are you doing. lori: i'm wonderful. don't know quite where to begin with the interview. where did you get the idea of glow in the dark ice cream.
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>> that was funny one. i was researching different thing, miracle fruit a amazing berry makes sour things taste sweet. you can eat the lemon like an apple. i was reserving that and i came across a research paper on loom minute necessary ends, the property in jelly fish that allows them to glow while underwater. i got obsessed and geeky and looked into it i found a scientists in china where he had been able to synthesize the protein in the jellyfish. i called him and said can i get some of your jellyfish protein. adam: i have to ask you, when i hear jellyfish, i hear crippling stings and when i hear china i hear all kinds of issues. is it safe? i assume it is i can eat it without worrying about any kind of toxicity? >> we're still going through the toxicity regulations at the moment. it is small levels.
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people in china eat jellyfish daily. obviously we're not using stinging part of the jellyfish. we're using glowing part of the jellyfish. lori: october stow pus have the ink, not jellyfish? i'm not a marine biologist. >> that would be a different color like black, dark ice cream. lori: glow in the dark jellyfish powered ice cream. how does it taste? i know it is quite expensive too. >> incredibly expensive thing at the moment because we're synthesizing in a lab. four times the cost of gold. most expensive ice cream i ever made. it is 140 pounds a scoop. not sure what that is in dollars, about 200 bucks? expensive, put it that way. i'm, basically the way it works is the protein within the jellyfish, the loom minute necessary sense protein, we bring it with the ice cream and mutual ph it will glow with the
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calcium in the milk. in fun terms, when you lick it glows. it is quite safe. i've eaten quite a lot and i'm not glowing. adam: when can you get it in the united states? when are plans here. just a word of advice, the name is great, over an 8th avenue try a different name in new york city. >> lick me i'm delicious. i will keep that in mind. we have a year before regulatory tests and get the costs down crucially. maybe year, year-and-a-half we'll have it on the streets. meantime we're doing a glow in the uv light gin and ton nick. if you like gin and ton nick. adam: liking these ice creams. >> sorry? lori: look at that. >> ton nick water glows under uv light. do a fun trick at hope, make glow in the dark gin and ton nick jellyies and glowing gin and tonic sorbets.
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lori: what is going on in popular culture where glow in the dark is so popular? >> it is whole trend of molecular food. people are interested doing crossover between food and science. also, all different fields. we're working on a number of projects. we're, we're working at the moment to develop invisible ice cream which is interesting one as well. which sounds mad but we're going to do it. we're working making the hottest ice cream in the world using hottest chillies that we can synthesize. i mentioned art as well. we're also doing a project you can see on the website which is called ice cream pottery. instead of a cross between pottery and ice cream where we serve people a gram ma phone machine, bear with me, this sounds mad. we serve with people gram ma phone machine with ice cream at top. spin the gram ma phone machine around, and that is a record
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player and throw an eddiedable ice cream pot themselves and full of fruits and eat. i'm completely baffled you. adam: you will be wildly successful there is willy wonka gold mine element to this whole discussion. all the best getting regulatory approval. >> thank you very much. >> thank you, charlie. good luck to you. talk to a lot of entrepreneurs on this show. he is up there. adam: would you try it? would you try glow in the dark ice cream? lori: i don't think so. adam: why not? lori: well, okay so charlie says he had a lot of it and he is not glowing but, i think -- adam: i think it will be huge. lori: i think so too. maybe i'm just a wimp. i don't know. >> no, i have seen what you drink. from the u.k. to fallout with germany. lori: how much i drink. adam:, to nsa leaker edward snowden's action derail a 300 million-dollar atlantic trade deal? colonel oliver north on the fallout. lori: getting back to the ice cream, nothing better than mint
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chip out of the tub. adam: cookies and cream. lori: locker room mess with miami's football team and money implications for the dolphins and nfl. latest, dolphin's lineman richie incognito suspended indefinitely for bullying a teammate ♪ someg you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wannbe a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪
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>> i'm cheryl casone with your fox business brief. commodities future trading commission member bart chilton is stepping down n a letter to president obama he says he will leave the futures regulator post in the not-too-distant future. he has served as one of 5c cftc commissioners since 2007. he is a frequent guest on fox business. corelogic says home prices increased just .2 of a percent in september, down from .9 of a percent in august. the report showed monthly price increases in all 50 states. home prices are up 12% year-over-year. the services sector which accounts for 85% of the u.s. economy grew than faster than expected rate in october. ism manufacturing indecks rose to 55.4 up a full point from september. economists expect ad decline to 54. that is the latest from the fox business network, giving you the power to prosper.
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lori: a lot of questions about the extent u.s. spying. secretary of state john kerry in poland vowing that the u.s. will strike a right balance he said between espionage and privacy but is it too late? have we burned some international bridges and will that ultimately hurt our trade relationships? welcome colonel oliver north, host of "war stories" on fox news. hello. >> it will got just hurt our trade relationships but hurts our of our allies. it made us dismissive to our adversaries. here is the real issue. edward snowed den is in the hands of russian intelligence services. everybody meets every day is a russian intelligent agent. they have seven different intelligence services. they are all asking questions. how did the americans do this? how can we do this? how do we protect ourselves from what you're doing? how do we pen trait the american
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data system say for the after r affordable care act? number five, who else, edward did you work as a nsa and as contractor that we can recruit to work for us? at end of the day the russians will kill edward snowden. we will be blamed for it. the reason they will kill him, they don't want us to know how much he gave away. this is very, very serious problem. what mr. kerry ought to be doing is traveling to moskow to convince edward snowden's dad back home to face the music. because the russians will kill him. he is a dead man walking. >> you gave as you lot to chew on here. let me pick up with this. obviously the u.s. not only ones spying. even snowden himself said u.s. and british intelligence officers are the worst offenders. everyone is spying on each other, right? >> let's do this you and i agree i will not tell bad guys that they don't need to know. i believed in non-disclosure agreements i signed years ago are still in effect.
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everybody spice on everybody else. it has been that day since man picked up a club to find out what the other guy in the other cave is doing. our intelligence services done it better generally in terms technical intelligence than anything else. what we lack is human intelligence because we gave it all away to get the technical stuff. lori: do with you think we will have a national security and privacy. >> i don't think it will be useful. >> don't agree with the way the president is handling the scandal? >> i don't think this president handled anything with regards to the national security of this country as well. mr. kerry is in poland today. one of the first acts of the administration was to abandon the means of protecting the people of the united states against nuclear attack and handed away at great risk to the polish who politically take a enormous domestic risk in backing america's so-called ballistic missile defense program. lori: business network, we're interested in the threat to our trading relationships. >> sure. lori: so we're looking at something like 1.08 trillion
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u.s. dollars in a trade agreement between the u.s. and the e.u. right now. >> sure. lori: that is half of the entire global output in goods and services that. is tremendous amount of influence and jobs. how do you protect that at this point? >> what this administration obviously doesn't realize, disinformation, give you example of it. lori: okay. >> idea that the nsa was sitting there listening to hundred of thousands of vatican phone calls is lunacy. that is disinformation. that kind of thing is going to continue to affect our relationship with our friends and our adversaries for years to come because of the incompetence of this administration. what they're going to do, with this investigation is continue the process. the church and pike commissions back in the '70s which investigated the cia and what they did and gave rise to some of the technical capabilities of the nsa, putting all that up for the public to understand and grasp and rest of the world to know isn't going to help us a bit with our trading relationships. lori: colonel oliver north, thank you for your time. the new book, hold it up,
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"american heroes." >> on the home front. hearts of heroes. to get copies signed for christmas. lori: good to be with you again. >> thank you. adam: miami dolphins lineman richie incognito suspended indefinitely of allegation of player misconduct. he has been accused excessively hazeing a fellow teammate, jonathan martin. steve harrigan joins from us miami. steve, there is more revelation that is might trouble people coming out about the suspended lineman. what do we know about this? >> certainly some more troublesome video coming out about richie incognito taken earlier this year with a group of teammates at a fort lauderdale bar called dirty blondes. images show incognito stomping around bare chested and using the "n" word in relation to another teammate who is present and appears to be laughing. more scrutiny of incognito's history as we, being kicked out of programs at university of nebraska and oregon and let go
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by the rams after fighting with the coach in 2009. i was voted dirtiest player in the nfl. he has been suspended indefinitely after discovery of racist text messages by the dolphins management. that management really wants to get to the bottom of things right now. owner steve ross called for an independent investigation by the nfl. the coach of the dolphins is on the hot seat but as far as the players in the locker room go, they seem to be at this point still supporting richie incognito. here is what a few had to say. >> richie's a guy, if you had to get a guy pick your back, richie would be first before a couple base. i don't think what people say about him are true. like i said i don't want to get into it. >> there has been no commentary yet from jonathan martin since the scandal broke. reportedly since he left the team has been with family in california. back to you in new york. >> steve harrigan, thank you. as we do every 15 minutes
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let's check the markets. mark newton is on the floor of the new york stock exchange. mark, a lot of attention with the twitter ipo. what do you think? is it going to be overdone? are we going to see kind after facebook off to the races on the fall for several months and eventually climb back up? >> you certainly have potential for a lot of volatility on the first day. they're only offering a sliver of the total float at this point, 10%. a lost professionals suggest anything over 30 would be pretty massively overvalued. these are the hot market right now. soon as they come to market you see an initial gap or doubling if really last few weeks or months are any guide. i think it comes back to light. this company is very different than some of the facebooks and other that is have more of a established track record. it might take some time particularly in a market that has gotten as frothy as this one has of late. adam: quickly, is the market looking for direction?
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one analyst said we don't know where we're going and waiting for something to happen. >> it is pretty choppy. we rallied back from the lows this morning. dow was down about 140 points. i think that is absolutely right. choppy, looking for direction. we've seen a flow into defensive sectors. it will be tough in the near term. we rallied long way in short period of time, 15 out of last 30 trading days. we're basically sideways last few days. adam: mark newton, all the best. >> my pleasure. you too. lori: the $100 billion mark, the eye-popping mark for the unfunded employee pensions of the state of illinois. adam: we have the director of teachers retirement system in the state of illinois will join us on the threat to current retirees. that's next. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what ppened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology,
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like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what ', so we can all produce energy more safely. our commitment has never been stronger.
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adam: illinois governor pat quinn calls his steak gigantic debt burden, an extreme emergency. $100 billion in unfunded public pension liabilities and growing. the illinois general assembly meets today and tomorrow but nobody expects law makers to tackle the debt problem and our next guest says, time is running out. joining us live from springfield, illinois, richard ingram, executive director of the teachers retirement system of the state of illinois. richard, 55 billion of that unfunded liability is owed to illinois teachers. are they going to be able to collect the full benefits they expect in retirement? >> well, i think, adam, for the teachers that are retired today, we're not talking about a crisis that is imminent upon us today. we're talking about the future really, being able to guaranty the retirement benefits for the 25-year-old teachers that are just starting, for the 45-year-old teachers in the middle of their career. as you say, we have a
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$55 billion unfunded liability in the teachers retirement system but we also have $40 billion in the bank. we're not going to run out of money anytime in the immediate future but this is a business that requires long-term focus and problems -- adam: so what, let me ask you, you know, you actually were quoted in a press release that the retirement system put out, despite strong returns, you had 8%, or this year, 12-point% rate of return, despite the strong returns the teachers retirement system can not invest the way out funding hole we're in. you continue to get shortchanged on acutarial base business by the state. >> right. adam: you said since 1939 not once has illinois funded on actuarial basis, i think in english is the basis they should have. >> absolutely, spot on with that. adam: so why is anything going to change? so we're almost 60 years since 39. why is anything going to change? >> what has happened, one of the good things that has happened over the last year,
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year-and-a-half is the policymakers although they are struggling with an enormous challenge as everyone can recognize, they are focusing on what the real numbers are now. you know, early on in my time here, i used to say that political science always trumped acutarial science in illinois and we've been able to change the debate to focus on what the real numbers are. as they wrestle with what the solutions must be they are focused on what those acutarial numbers should be. so what we're talking about here is the ultimate good news bad news story. the good news is the investment returns we've realized. the bad news is, over the last several decades we have been shooted about $17 billion in funding that we would have received in an actuary had calculated the contribution. over that period of time we've earned an average of 9% a year on our investment portfolio. if we had had those funds and earned those returns on a full-funded basis we could have this interview and talk about how we'll we're doing and not
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how poor we're doing. adam: how does this end? the lawmakers in illinois, those who haven't been sent to jail, so many of the governors, i lived in chicago at one point, wind up in jail at end of their terms, i don't say that jokingly by the way. there has been real corruption problems will know. what is the endgame here? is it raising taxes on people in illinois, cutting of services for people in illinois and potentially the cutting of benefits for retirees who are teacher right now, 45-year-olds teaching in public classrooms in illinois? >> well, that's a question for the members of the general assembly. i mean, as you say, it is an enormous challenge. our role at trs is, number one, to invest the fund we've been entrusted with prudently and to point out if we believe there's a problem about being able to keep the promises over the long-term. that is what we've done. we've not been in the business of suggesting what the solution must be. it is very clear that that responsibility rests with the general assembly. adam: your general assembly
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shirked that responsibility. are you optimistic, since 1939, the general, the politicians in illinois have not kept their bargain. so what makes you think they will in the future? >> the track record has not been good obviously that is the case and that is a point we make with our members whenever we hold a town hall meeting with them across the state of illinois. but i can tell you there are people i will say of good faith and ernest, making ernest efforts to wrestle with this. adam: okay. >> i think quite frankly one of the biggest challenges is that we're talking about real numbers now. adam: thank you, richard. i have to -- >> anytime you talk about reality -- adam: i'm sorry i have to cut you there. we have breaking news. you're talking real numbers right now. we appreciate you being here because this is an issue for several states nationwide. richard ingram, thank you very much. >> you bet. lori: so here is this breaking news item for you. new problems with obamacare and this one could be a real problem. peter barnes, new details for us
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from the white house. what's the latest, peter. >> well, hey, guys we have just gotten another dump of notes between administration officials and contractors at the website released by the house oversight committee and it mentions the first incident of potential fraud at the website. according to these notes, quote, the first case of navigator fraud, not the navigator, just fraud came out today out of ohio and that was on october 1st, according to these notes, the day that the went live. so first day they were talking about a possible case of fraud out of ohio. later in the notes, you see this line as well. kansas working with navigators on fraud allegations. so two states mentioned in these notes, these latest notes released by the house oversight committee. back to you. lori: peter we'll be all over the story, the latest in the
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obamacare saga. but it is election day today. the races and faces you need to know about. should the rocky mountain high be taxed? voters at casting ballots weighing 70 million in national revenue. we have a member the national cannibis association that joins tracy and ashley next. so ally bank has a raise your rate cd
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tracy: hey, good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. as markets look for direction, gas prices are heading south. we are talking under $3 a gallon. we'll head to the cme to find out how low they can go. tracy: less than 48 hours from the expected start to twitter trading. the social media darling poised to price its ipo at a valuation that makes it more expensive than facebook, inc. we're joined by an early backer of facebook and linkedin, david
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zee from gray lock partners and what he says twitter needs to be focusing on. ashley: forget "ghostbusters." google is to the rescue. we have google's video based health service from the downward dog to the grip on your 9-iron. there is a joke in there somewhere. tracy: somewhere. ashley: don't do it. of the time for stocks, looking for direction. let's go to nicole petallides on floor of the new york stock exchange. stocks climbing back you could say from session lows i guess. >> the dow was down 117 points. the s&p 500 managed to hold that 1755 narc. so that is reassuring for the bulls if you're long this market. we're watching the 10-year bond as that gains momentum f it moves higher that could pressure stocks and you would see selling again. market breadth has actually improved over last couple hours. earlier today a couple names had green arrows but we are seeing a lot of names in the green.
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tech doing the best of the bunch right now. the nasdaq is higher while the dow and s&p are pulling back. the dow is down about 16 points at the moment. we got weaker comments from the eurozone and awaiting jobs report on friday and big ipo of the week, twitter. i want to take a look at michael kors. michael kors you think of handbags and accessories. it is luxury to certain extent. their revenue jumped. they have given a good forecast. they compete against other companiee like coach and the like and taken market share. fifth and pacific doing well, just to name a few but a new high for michael kors today. back to you. tracy: thank you, nicole. well, drivers rejoice! i do at least. prices at the pump are at the lowest levels seen all year. they're actually poised to drop even further. sandra smith live from the pits of the cme with today's trade. you don't see how "gigli" and happy i am right now but this actually makes my day. >> tracy, i know the pain that
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you usually feel, those high gas prices. you're at new jersey you have to pay for full service on top of all of that. that being said, what is happening over at the no, nicole mentioned michael kors hitting all-time highs, doing very well. retailers, restaurant stocks, guess what? they will all benefit from these lower gas prices. i got off the phone with patrick dehaan at he reminded me for every penny drop we see in a gallon of gasoline in this country, americans save $4 million a day. this goes right back into the american consumers pocket. oil price, reason for that we're down another dollar today, hitting four-month lows, rbob gasoline, wholesale gasoline prices hitting 22-month lows. that is translating to lower prices at the pump. overnight aaa reported that the national average fell to $3.24. that is down 11 cents from a month ago. those pennies add up.
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that 3.24 is down 23 cents from where we were as a national average a year ago. remember those are national averages. drivers right now in about 70% of the united states are already paying prices below $3 a gallon. five states are seeing state averages below $5 -- below $3 a gallon. tracy, even better news. aaa says the national average is heading to 3:10 by the end of the year and 10 more states will see their state average drop below the three dollar mark. it is supposed to get even better from here. back to you. tracy: i tell you what, i will pay to have someone else pump my gas any day when it starts to snow and rain. i will even tip you. i don't care. this notion that other people get out of their car, this is craziness to me. sandra smith, thank you so very much. >> thank you. tracy: honestly. ashley: not that difficult though. tracy: your hands get all icky. ashley: yeah, yeah. all right. news alert for you. it is day 7 of the detroit
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bankruptcy trial. the chief lawyer for the united auto workers union testified today he was willing to negotiate health care cuts for retirees with detroit, but, he never got a response from emergency manager kevyn orr before the city filed for bankruptcy. the attorney said the uaw would not agree to pension cuts because michigan's constitution protects public pensions but he was willing to put together a group to talk about health insurance. former michigan treasurer, andy dillon also taking the stand acknowledging that he talked about the possibility of a bankruptcy for detroit back in march of 2012. but that it was always viewed as a last resort. tracy: so much for that. all right, it is that time of day. charles payne is here. we'll make some money. shares of silicon waiver maker. who? >> sun edison.
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tracy: you have to know how to say it before you buy it, you sun edison. >> used to be mem electronics. changed their name. tracy: no correlation or there must be? >> they were more semiconductor before. now they're half semi, half solar. on their way to probably being majority solar, hence the sun part of it. tracy: got it. >> edison is give my man props from the electricity. it does make sense in a way too. there is lot of components to this whole solar space. there is the components that go into the glass. the glass themselves. residential. these guys are focused on utilities. these are big projects. the problem with big projects they could be inconsistent. hard to get big deals. they landed one with chile, 100 million-dollar deal. that is good news. ahead of the earnings. earnings have been okay but they can be inconsistent. that is my caveat on this, longer term no matter what the report is i think they're heading in the right direction.
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this is a gigantic industry, the area they're in, number two market share. they have a great global field and great global connections and i think they will do well. ashley: out in the middle of the chilean desert. it will be huge. >> it will being huge. ashley: perhaps a sign of things to come for the company. you like solar stocks. >> i tell you, i can not believe how well we've done with them. solar stuff, 3-d stuff, you know what? i don't like the idea of government subsidy stuff so much because i think it's a business that is going to evolve anyway. ultimately this is where we're going to be. can we cram it into the time frame politicians promise? that is ridiculous. if you let the market do it, happens in smart way and less expensive way to taxpayers. when you get contracts from chile and contracts from portugal, that kind of stuff it shows you this is certainly the wave of the future. tracy: good stuff, charles. >> we'll talk about tomorrow. see ya. ashley: election day it is. we've got the races and the face that is could turn local races
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perhaps into national trends. tracy: and should you be able to tax that rocky mountain high? well colorado voters will have their voices heard today on the state taxation of marijuana. hmmm. of course as we do every day at this time of day let's take a look how oil is trading. as sandra mentioned it is below 94 bucks a barrel for the first time since june 26th. it is $93.44 a barrel. we'll be right back. my mantra? family first.
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if you have buness idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. ashley: twitter all set for its much-anticipated ipo as an early backer of linkedin and facebook, david zee of gray lock partners says twitter has a huge opportunity ahead of it but keeping its focus is the key. david joins me now. david, thanks so much. i know you don't want to get into the pricing of the stock so much but if you look at the overall valuation based on numbers we heard it would make it more expensive than facebook, which by the way is profitable
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and has five times as many users. so what is the attraction of twitter? >> you know, twitter is the pinier. in a space that is really about communication between an individual or a corporation or a company to a bunch of users in a mass kind of way. it hasn't really existed ever before and it is the dominant player in it. if you look at its market, it has plenty of growth in users to go, potentially. and, it is only just started to build its revenues. so i think a lot of investors are looking at, what the potential is, where they stand in that system and if you look at a facebook, you know, having been involved with facebook, i think markets can often underestimate or misprice what the opportunity is for these kind of companies, and we've seen it with facebook. we seen it with linkedin and seen it with pandora. we tend not to focus what the stock is at any given moment because it is really a secondary representation what is being executed inside the company. ashley: well, what is being executed showing it is slowing
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down on the number of users that, you know, use twitter. it hasn't made a profit yet. and that could raise some bells to say the least for those that understand the potential of this company but how are they going to turn it into money? >> well, look i think the communication channel that they represent is incredibly vital. mobile is a continuing growing piece of the business. they haven't really monetized international in any way. so i don't presume to be the expert at what the pricing should be at any given time. it appears what we can see experts are more enthusiastic than you would expect given what you're saying and they're the pros. so, i guess you should ask them why the price gets raised, why there is so much interest in the stock but i think it is because they see if this company executes there's huge opportunity. ashley: but i understand how facebook can monetize its popularity but my problem with
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twitter is, it is 140 characters or less. it is small, instant service that people can share anything and everything from around the world. how do you clutter by putting in advertising, a, how effective will that be and b, does it not clutter twitter's, you know, user interface if you like? will that put users off in the long run? >> you know at the end of the day, they are matching attention, people's attention with information. and they will have to have the challenge of making the right content that's monetizable be part of that. that has been a challenge i think for every service that, and they have to get through it. but, if you have the value, i think the underlying data says whether you're linkedin or pandora or facebook, and if you're a twitter, you will figure out if you have smart people and keep adding consumer value, you will be able to bridge that gap. that's what all the companies have done. i believe twitter has already shown progress towards that and will continue to.
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ashley: david, people use, social media, especially younger users, are very fix kill. what if someone comes along and basically copies what twitter is doing, but becomes more hip and cool and folks in the music industry and movie industry start using it, how quickly could that affect and hurt twiter? >> you know ever service has to service has to earn its stripes for what it does for users over time. that is risk for google, facebook, a linkedin. if you're at the scale you're at and you've become the standard and it is yours to lose. we've seen in facebook, linkedin, and pan door remarks that says big market opportunity, leading player that innovative and great management team. i see all three of those in twitter. i've known dick costello over a decade. he is amazing incredible leader and have a ton of faith in him and the team he built. ashley: david, thank you very much for joining us today.
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we appreciate. >> thank you very much, ashley. take care. tracy: it is quarter past. we have to check in on the markets. nicole petallides on the floor of the new york stock exchange where we go every 15 minutes. nicole, looking at a couple of earnings misses, huh? >> these are travel-based idea here. we're looking orbits worldwide and hertz, seeing their numbers are disappointing. hertz down over 9% and orbits worldwide down 18% at 8.75. at lowest point it was 7.25 a share. however you're still seeing significant selling for both of these names. if you're owning these shares you're not happy about what you're seeing. let's break down what we're seeing as far as hertz. their profit dropped 12%. they have been facing higher expenses. but revenue did grow. so that is one bright spot. don't forget they did have the demand from the acquisition of dollar-thrifty. there is orbits worldwide. they faced more intense costs particularly for marketing
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costs. they had incentive-based pay. that is something that hit their numbers and cut their full-year revenue numbers and as a result we're seeing it down 18%. orbits has cheap tickets under its umbrella but a tough, tough day for both those names. back to you. see you in 15 minutes.le. ashley: sac capital given a record insider trading penalty but is this just being done. judge napolitano is here to rule on this case. tracy: we're days away from the nyse and intercontinental exchange deal. the intercontinental exchange is hitting new 52-week high. we'll tell you why coming up. ashley: u.s. dollar is down against all the currency yesterday. it is more mixed today. euro and canadian dollar and peso moving lower against the dollar but pound and yen continue to gain ground. we'll be right back.
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>> 21 minutes past the hour, i'm lauren green with your fox news minute. officials say the gun that fired shots at a new jersey shopping mall may have been planning to commit suicide. thousands of people ran from the mall as 20-year-old richard shoop began shoot negotiate air just before closing time. he was found dead with a
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self-inflicted wound. no one else was hurt in the incident. nfl is looking into allegations that lineman richie incognito bullied a teammate. that he harassed jonathan martin and with racist texts and emails. martin left the team last week and incognito has been suspended indefinitely by the dolphins. first snow leopard to be born at new york's central park debut are finally making their debut. the unnamed twins were borned in 30-pounds each.weigh about snow leopards are the most endangered big cats in existence. those are the headlines. back to ashley and tracy. >> lots of awes in the studio. how can you not did, ahs. not so much ahs on this story. on friday steve cohen of sac capital advisors will plead guilty to securities and wire fraud charges. after the firm agreed to pay
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$1.8 billion in penalties as part of a plea deal with prosecutors but is the hedge fund billionaire out of the woods yet? joining us is judge andrew napolitano, fox news senior judicial analyst. before we get to that, judge, this is outrageous and extortion on behalf of the government, correct? >> the government has been this pattern of ashley: but we had six members of sac capital pleading guilty. >> that's why i suggest to you that the corporation pleaded guilty and mr. cohen, who is worth about nine billion is willing to part with nearly two billion of it. this is not all his money. this is the corporation's money and there are other people that own the corporation along with him. and we don't know what kind of deals the government gave the people who were prepared to testify against him but it is a pattern of law enforcement, wildly popular sips shortly after world war ii, find somebody at the bottom of the totem pole. find an infraction or serious crime they committed.
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indict them and get guilty plea and holt it over their heads if you turn to somebody north on the totem pole get a lighter sentence. they go up and up on the totem pole and find the until they get to steve cohen. of the spits spit did that. federal government is doing that on grander scale as we talk about 13 billion in the case i'm about to mention with jpmorgan chase. but why do these people cave to the government? why is there never a trial? when is the last time that a prominent person said to the sec or the justice department, take it to a jury? mark cuban. and he prevailed. took jury less than two hours to find there was no case against him. adam: he has all the money in the world. >> now every case is different and mark cuban has as much money as steve cohen. cohen has enough money to mount a vigorous defense. ashley: yeah. >> remember, steve cohen himself was not indicted and not personally accused of anything. so you ask if he is out the
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woods, he is never in the woods. they can still indict him personally as a result of this, but i suggest they never will. if they had enough personal evidence against against his personal behavior they would have done so already. tracy: i think the best point, the $1.8 billion is not certainly going back to what you call the victims, shareholders. it is going right to the government and god only knows what they will do with it. >> the government takes two kinds ever money from people. takes money and gives it two different names. one is called restitution and it is supposed to spread it around among the victims. one is fine or punishment. where does that money go? to the treasury to spend however it wants. whether the various agencies whether the sec or criminal division of the justice department show a profit at end of the year, guess what happens to them? their budget gets increased next year so they have more money to spend on beneys and more people to work for them. yes it feeds on themselves. that is why it's a corrupt system. i'm not suggesting that these people were mother teresa. ashley: right.
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>> none of us knows the actual facts in the case but i wish that someone like mark cuban would challenge the justice department to, to lay their card out on the table before a neutral jury and see if they can prevail. ashley: judge napolitano, we're already out of time. >> pleasure. more will come with steve cohen. he will either start another company with different name or they will indict him. this is not the end of his travails. ashley: judge, thank you very much. >> pleasure guys. tracy: a little bit of sad news this hour from chicago. charlie trotter, famed restaurateur as died at age of 54. self-taught chef, trotter closed his iconic restaurant in chicago last year to give him time to go back to school and travel the world. trotter, believe it or not earned 10 james beard awards and was considered a mentor to many chefs and chicago and united states. i actually had pleasure of meeting him. ashley: fairly recently. tracy: very recently. terrible news. ashley: very young too.
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tracy: all right. talk about doing your civic duty? i voted, did you? we have complete coverage of the governor races in new jersey and virginia as well as race for mayor? new york city and detroit. ashley: we're covering what is on the ballot. colorado voters decide on taxing marijuana. is it just smoke or high revenue? tracy: ha, ha, take a look at winners and loser on the s&p. we'll be right back. ♪
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trees in at&t verizon not doing well, they're down in the red. nicole petallides is on the floor of the stock exchange. what are you looking at? nicole: watching the exchanges, inter-continental, and obviously there deal is due to be solidified, that is evidence of takeover so let's start out looking at inter-continental exchange. stocks hitting a new high today, $200.87 a share, right down 198, seeing the gain of 2.3%. also a high for the day, great performance that came out with numbers that posted a profit of 7.8%, great news that continue to get revenues that work for them and the stock is up 60%.
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a new high today, $45.39 a we are watching that as it continues to gain and is a winner year to date, 42% higher. duncan neiderauer will be on board for one year. he will be on board to drive this throughout this year or next year in 2014? and jeff tucker of intercontinental will be running the show so we will continue to follow this story. >> thank you. it is election day. the faces you need to know about the establishment versus the tea party and perhaps predictors of the nation's overall political temperature. big races in new york, new jersey and virginia. and rich edson joins us to explain why today's voting matters. adam: politics watchers say tonight's result may provide a preview of next year's congressional midterm and the 2016 presidential race.
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across the potomac in virginia clinton ally and former fund-raiser terry mcauliffe told the 46-40 lead over attorney general, libertarian candidate robert star of this has 8%. he is the tea party favored painted as an extremist. >> there is no reason to have that shed down. the tea party use the government shutdown as a bargaining chip. should never be used as a bargaining chip. >> he is the first state attorney general to challenge obamacare in court, relying on growing disapproval with the obamacare rollout. >> obamacare has been a big part of why this race is a horse race at this point. i was first to fight it and didn't go far enough. up restart contrast. >> virginia is a key swing state but its national importance is a little overstated. turnout is expected to be low. in new jersey analysts say chris christie's reelection campaign is all about chris christie
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running for president and demonstrating a republican can pin in what has become a reliably democratic state. back to you. tracy: we need him in new jersey. i don't know about that. today voters in colorado head to the polls to decide how much to tax recreational marijuana. on the ballot a measure that would tax the drug over 25 per cent with proceeds earmarked for education and regulation. experts say these taxes could bring in $70 million a year. is this a potential solution for cash strapped states across the country? aaron smith, director of the national cannabis industry association, thanks for being with us. it is on bob ballot, the little question that the bottom. if you don't prepare for these questions people click away and don't even think about voting.
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>> last year colorado voters overwhelmingly showed they want to see a solution to marijuana is regulating the adult market in stores just like any other adult product and this is an initiative to ensure those regulations can be properly enforced and funded and i think we will likely see the voters come out and overwhelmingly support the proposition today. tracy: we have seen time and time again money earmarked for education ends up somewhere else in the government coffers. do you want this tax to pass? >> yes. our members in the industry want to be taxed. the legal cannabis industry is of little different than other traditional industries. we are simply asking to be treated like any other business sector and that means complying
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with regulations and paying taxes and as long as those taxes are fair and equitable along the lines of alcohol and other adult product which in the case of colorado that seems to be the case. tracy: and tax alcohol by the gallon. this is taxed on price? >> it is and the bottom line is the alternative to having tax and regulated market is a criminal market in marijuana and we have found a solution by taking marijuana out of the black market, putting it behind the counters and creating a new industry that is growing across the country, paying tens if not hundreds of millions in taxes, thousands of good paying jobs and contributing to their local communities which is something that our competition in the black market isn't doing. tracy: i am not sure what jobs they are associated with. and won't even act.
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are you worried the price will go up if you tax this more? that is what will happen if the tax is based on the price of the marijuana. >> we will see a slight increase temporarily but it is important to remember in colorado for example market-based is also going to increase significantly. currently, only seriously ill patients in colorado can obtain marijuana legally. after jan. first any adult over 21 and we will see the market scale, and price will fluctuate back to where it is for the medical market today. these businesses are acting like any other business, we have a safe environment for consumers to go into the store and to buy cannabis through regulated means and consumers want that. tracy: this won't set precedent for other states going forward. this is a big election.
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are you concerned that it might go the wrong way? >> no. i think it is clear that voters already determined they want to see marijuana taxed. this is a follow-up proposition to last year's amendment 64. all of the polling indicates voters overwhelmingly support it so i don't think it will be an issue. tracy: thank you for being with us. for complete election coverage keep it right here on fox business. neil cavuto will take you through all the important races and he is funny. he gets funny when he gets into this stuff, a:00 eastern. do you remember we had a guest that said it wasn't a gateway drug, it was like drinking milk. it is laughable. ashley: may be an extreme example. breaking news, oil closing down
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$1.25 finishing at $93.37 a barrel. crude close under $93 a barrel since all the way back in late june, continues to drop. i say health care, you say fbi. what the fed and health exchanges. tracy: the team behind the group is that it again. changing the wedding registry experience. and men are included. we will be right back. capital to make it happen? without the thinking that makes it real? what's a vision without the expertise to execute it... and the financing toake it grow? whatever your goal, it can change more than your business. it can change the future.
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>> your fox business brief. and home prices increased 0.2% in september. and 9 tenths in august. ford motor co. announcing plans to focus on fast-growing middle east and africa market, the automaker will launch 17 new and updated vehicles over the next two years. ford will combine what was the 4 separate regions, the middle east in three africa divisions into a single business unit in dubai. more americans are commuting of lung, 76% of workers, 16 years and older drove to work alone last year. according to the census bureau american survey constantly been in decline from a peak of 20% in
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1980 down to 10% last year. that is the latest from the fox business network giving you the power to prosper.
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tracy: seventeen million low and middle-income americans eligible for tax credits to buy health insurance on the exchanges. now the fed said the new system open to itself up to massive fraud and abuse and liz macdonald has exclusive details on the story. liz: talking to fox business saying to fox business health reform has the potential for major crime on the health exchange, potential is huge and they expect it to rise, releasing the tax credits people
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get. essentially there will be no income verification. we are reporting that as well, audits done after the fact desolated the earned income tax credit fraud we are seeing and we are seeing the same units being used switched over, double duty here to handle the health reform tax credit fraud as well. tracy: not enough manpower to handle this and so many don't even understand it. those are your two big issues. liz: we are dealing with estimates of the size of the dollar amount so we are seeing the same rates or tax credits to buy health insurance where they get tax credits up front without income verification so they deserve the credit and after the fact that possibly audited. we are hearing estimates of $20 billion a year on top of all the other problems. we know the federal government
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is spending $350 million on more auditors, more government regulators to catch the fraud in the health exchange. ashley: based on what happened to website we shouldn't assume anything but they knew going in this was no income verification on a tax credit money so it doesn't take a genius to work out there will be a lot of people, not a lot but there will be people who abuse the system. liz: on top of that an important point, the employer mandate delay, delay the implementation meaning employers don't have to provide health insurance to their workers for one year. those workers could try to get in the interim health-insurance on the exchanges by committing fraud. that is another thing they have to deal with in the administration, the irs and fbi teaming up to help build this massive database to do income verification to make sure people deserve the credit they are applying for.
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tracy: totally messed up. how do you know? that is great stuff. thank you. ashley: we don't want liz macdonald chasing you down for something. it is a quarter till. as we do every 15 minutes let head down to mark newton joining us now. a lot of movement on the market. back at the flat wine. what is going on? >> can't keep a good market down. 140 points from the lows this morning, it is amazing, pretty resilient. as soon as the number came out, manufacturing i s m the market sparked and rallied ever since. the numbers are any indication, this thought about the government shutdown being damaging to the economy might have been overblown. the market has been a long way and continues to turn and the defensive sectors, have more
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staples and you are seeing more strength in discretionary, industrials. i would mention given the shift in rhetoric over the past couple weeks of the more hawkish, you are seeing a noticeable uptick in interest rates. the ten and 30 year having a move and the dollar having a big move the last couple weeks as well so those are something to keep in mind with everybody and pointing december as possibility for tapering. ashley: on the day like today where the market is as you say showing remarkable resilience is there a bit of excitement with all the ipos and a twitter audio coming? >> lots of excitement absolutely. everyone is looking for a twitter, and a big success, a lot of volatility expected. really the last couple weeks, probably going to see quite a big move and is -- on the initial day but can be sustained or not. ashley: we shall see.
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thanks very much. tracy: time for your tech minute. shares of sales soaring despite posting a sharp third quarter decline in profit, the drop was due to restructuring charges and the past news service, advertising revenue rose 14% to $380 million up from $340 million a year ago. the online media group businesses include washington post and mapping service map quest and i still know people with an aol e-mail address. giving new meaning to google it. when you are looking -- looking for a downward dog held earlier or the perfect high, i'm always looking for the perfect pot, you can contact an expert for a live tutorial the ed google. the search engine is launching a marketplace, 1,000 service providers that offer tips on
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everything much more than pies. these are available on the web and android devices. google gets 20% of the transaction fee but if users are unhappy, google will refund their money. and 3-1/$4 million. that is the new wedding registry, founded by former guilt group the employees, it is part of inspiration sharing, which list treasury -- registry. the user designing a home page. so large purposes comment and ecommerce space seeing products from the brands themselves. your 1-stop shop for everything, the big old honeymoon, italy. and we should get our state manager john hatch to try it out considering he has nuptials coming day.
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he might need registry. ashley: after in the win for house of cards, netflix, guess what is going to oscar gold? dennis kneale joining me on the egyptian documentary, local movie theater. tracy: the city of brotherly love reaching out to a hot sauce maker, causing a big stink on the west coast. basically flat, don't go anywhere. we have a lot to talk about. we will be right back. day you m. day you m. but your erectile dysfunion - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, anask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach,
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tracy: the netflix is getting into the original movie business one week after a senior executive managed to rankle the ranks of the runners by accusing them of, quote, stifle innovation at every turn. ashley: dennis kneale joins us
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with more. dennis: netflix had just bought exclusive rights to the square, a documentary about the egyptian uprising that began in tahrir square. it could put netflix in the running for the academy awards. just after it won an emmy for best tv drama director and now gets a little awkward. netflix's chief content officer complained theater owners stifle innovation at every turn. they hadn't changed the way they rollout a movie in 50 years. he argued even -- is they should premiere on netflix the same day guarantee is. peter and his god that window and you netflix that the threat to begin with anyway and now this guy and netflix trying to make nice with theater sheens, backing off of those comments saying that is not what he meant that all. sure he didn't. ashley: he meant what he said. also an interesting angle on
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football. zombies beat the colts and the texans. the perversely popular series walking dead, the highest rated show on television sunday night. the nfl sunday night football, walking dead beat football in the key target most coveted by advertisers, adults under age 50. walking dead through thirteen million viewers of all ages on sunday, 22% fewer than the total audience of the colts texans game, but adults under age 50, the demo that brings in those that dollars landed almost nine million viewers, seven.4% more than for football. ashley: and green bay. tracy: walking zombies. dennis: i don't get the appeal of that. all that dead flesh. ashley: let's move dennis to the
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city of brotherly love. feeling romantic about jim kenney wrote about a love letter to foods asking them to move to phillies. this hot opportunity comes after the company was sued by a california town over odors emanating from their factory. the recent ruling against the town not enough to stop philadelphia's attempts to lure the company out east. some of the reasons listed include the natural parent of philly cheese steak and the city founder william penn was a fan. tracy: come john l.. ashley: maybe he was a fan of fill the key states. that wasn't easy to say. coming up on "countdown to the closing bell" has love motors gets ready to report earnings "after the bell". the stock has been in overdrive almost 400%.
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and we're sharing whate've learned, so we can all produce energy more safely. our commitment has never been stronger. ♪ ♪ liz: good amp, everybody, i'm liz claman. it is the last hour of trading, and if you are one of those people cheering just as the dow jones industrials after being down 117 points then turned positive, happened precisely around 12:26 eastern time, it would have been a short celebration because it then crossed the unchanged line some 50 times. we could see that added to the next hour. without much more than disappointing earnings to follow, the markets have sort of been having a tough time finding direction. two names looking ugly at the


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