tv Markets Now FOX Business December 11, 2013 1:00pm-3:01pm EST
democrats and republicans coming to get there. adam: house and senate negotiators agreeing to a budget deal to fund federal agencies through fall of 2015 but that doesn't mean everybody will sign off on the deal. lori: a quarter of a million americans signed up for obamacare for a rush to involve many people by december 23rd. the deadline tells you a different number to watch, not getting as much attention. adam: too big to fail? too big to understand. double collapsing back in english and why it may be a costly fix to a non problem.
charlie gasparino has the exclusive interview. lori: the new ceo of general motors and many american women believe more needs to be done to get women in leadership roles. adam: turning an eyesore into an attraction. the architecture firm that designed google's headquarters is setting its sights on the keystone pipeline. its proposal to build the 1300 mile long bike path. lori: sounds like an interesting idea. what else is interesting? stocks selling off. the dow down 100 of the lows of the day but let's get some color on the action from the floor of the stock exchange, nicole petallides, we are heading for a third day of losses. nicole: the fear index to the upside, the dow industrials down 85 points. nasdaq composite down 1% and the s&p 500 dropping 0.3%. we are to the downside and we
will watch that after eight weeks of beans and in the meantime the vix has been jumping today. it is up 6%, almost 15, a level of 15 so we are watching that and here's a look at the dow laggers. the banking index under pressure, retail index, oil services, the name on the dow that have been weighing include united healthcare, worth noting cisco got a downgrade today. under pressure, nike down 2.7%. we should note breaking news we have gotten in and this is royal bank of scotland. the u.s. treasury fining royal bank of scotland $33 million for violations of u.s. sanctions. they violated sanction programs in relation to iran, cuba and sudan. we are watching for that and in addition royal bank of scotland
has their finance chief stepping down. the stock is down 4% at the moment. adam: we are also watching shares of mastercard. at stock soaring to an all-time high making some moves better for shareholders. the company announced a stock split with an increase the dividend and a new buyback program. the move takes mastercard out of the running to be $8,000 stock. it is the third most expensive stock on the s&p 500 behind price line and google. lori: the markets during the 4 initial public offering, hilton hotel after the close, companies reporting $2 billion in the deal making it one of the largest ipos this year even bigger than twitter. shares trade tomorrow on the stock exchange under the ticker symbol is shelled the. neil: free oil prices near the lows of the day after a bigger
than expected drawdown. crude supplies dropped 10.6 million barrels last week, the biggest decline in the year. the big loser gets gasoline. those supplies rose more than expected driving down prices. lori: congress is one step closer to a bipartisan budget deal that will avert a government shutdown come mid january. here is what you need to know about the proposal. 2014 federal spending capped at $1 trillion, reduces the deficit by $23 billion over ten years and restores $63 billion in funding cut by the sequester. for more on the deal let's bring in republican governor of minnesota and ceo of the financial service roundtable tim pawlenty. welcome back to the show. first, your initial impressions of this deal? do we have a deal? >> there is going to be a deal and has a high probability of passing. that line that these,
republicans and democrats agreed to something. it is small but tolerable, looks like it will pass and keep the government open and not the fault for the next 24 months. that is progress. it is incremental, small but powerful and may be opened the door to some agreements and better working relationships going forward. lori: not everyone is on board. there are conservative groups already blasting the spending levels are above the pre sequester levels and the sequester was the best way to rein in federal spending, even house speaker john boehner is blasting these conservative groups in opposition but your take on that, the spending levels really are above the sequester levels and don't do a lot to improve the fiscal situation maybe you disagree with me. >> spending does look like it will be a little above the sequester level but it is at the midway point between where the republicans were and the democrats solely represent a
compromise which are going to trigger naysayers are people criticizing the deal. is not perfect but it is in the major a compromise that not everybody gets what they want. republicans would say it reduces the deficit in the near and intermediate-term and addresses points of pain, namely the debilitating cuts to the defense budget which will be addressed by this. is it perfect? no. is a tolerable? yes. lori: comment on the strategy. >> by the way, just going to save for those republicans who hold out for the perfect, last time they held out for the perfect, threatened to shut down the government, did shut down the government and threatened to not lifted the debt ceiling into the country into default when push came to shove they really weren't willing to do that and took on a lot of water for that. one thing to talk tough, another thing to toe the line. lori: kind site is 2020. to defund and delay obamacare which happened on its own, how does this set of the republicans
for the midterm next year? are they just trying to play it safe and avoid a government shutdown? hopefully in the republicans's favor use the affordable care act disasters rollout in their favor to gain momentum and maybe even more solid majority in that house and the senate? >> from the republican standpoint we don't want to repeat the unfortunate experience they had last time with respect to the debt so they want to find a solution. this is small but at least move the ball forward a little bit and buys some time and allows them some space in their view to focus on obamacare and the challenges of obamacare without being distracted by lingering budget fights or government shutdowns which didn't in your welcome broken is that of the last time. lori: as ceo of the roundtable your take on the passage of the volcker rule? what are your thoughts and what are you hearing from the
participants at the round table? >> the volcker rule is meant to ban or stop proprietary trading. most listeners know trading by banks for their own profit, most of the big banks and others got out of that because it was not necessarily risky and they were anticipating the volcker rule coming and the volcker rule can out yesterday does allow for significant exceptions for market making, appropriate hedging and effective date is delayed to 2015. a lot of details to be worked out but compared to what it could have been it looks like this is a more constructive rule than the version that came out a couple years ago. lori: are any participants worried about their profitability being sliced? >> many of our companies had already vacated the proprietary trading space and there are trade-offs involved. if you have less trade off there will be less demand in the marketplace, that the economic effect, the cost of compliance will be shifted somewhere.
international competitors don't have this rule so it could put american institutions that competitive disadvantage globally. all that being said it looks like regulators tried to strike a balance between getting rid of risky trading and still having things like appropriate hedging, marketmaking and the like and we will see in the future as it plays out whether the balance was properly struck but it is workable. lori: thank you for your time and insights. former governor tim pawlenty. neil: 3 kathleen sebelius expressing some regret on the health-care law saying it should have been done slower as enrollment continues to disappoint. >> he testified before the house energy and commerce committee the day the administration released more enrollment numbers. positive spin in the administration says is thirty-nine million people have visited the web site looking for
plans. the problem the enrollment numbers aren't there. look at so far these numbers coming out, 27,000 folks signed up through xp exchanges and federal exchanges for 365,000, meanwhile the administration in september projected the internal documents that 3.3 million people who have signed up by the end of this month. that 365,000 number doesn't necessarily mean you have actually select a plan or only a select a plan. doesn't necessarily mean you paid for it. >> our concern is 364,000 number is fraudulent because it is not those who have purchased plans yet. so i would ask that when you return, you would give us actually a purchase plan. do you understand our frustration with that? >> as you well know we did not take over the private insurance market. people will --
>> you are telling me, you are telling us those -- >> i told you -- >> are enrolled. >> i told you who is enrolled. >> that is why we are frustrated. we don't get -- >> this isn't -- >> the analogy republicans are using is the number the administration is releasing, when you think of amazon, you select a product and put it in your partner doesn't mean you bought it. what the administration is saying is our job is to match up folks who are looking for insurance with insurance companies. after that it is up to them to work that out with the insurance company. they have until the end of the month to pay for that plant if they have already selected. we don't know how many people of done so. neil: 3 the number won't be anywhere near what the administration thinks is
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beat their0-year lipper average t. rowe price. invest with confidence. with investment information, risks, fees and expenses to read and consider carefully before investing. lori: let's do it again. nicole petallides is on a floor of the exchange. we are seeing another new high for twitter shares in an otherwise weaker broader market. nicole: you come every 15 minutes, a lot to talk about, twitter of 1/1/4%, 53.87 was the all-time high set earlier today. windows they have been working on mobile apps and the like and we'll seen positive commentary on twitter recently. pandora is a different story. shares are sinking down 6% on
pandora as spotif the sec has launched its music service to smart phones and tablets and the like and they will hit the same audience. pandora, 2730 down $2. however it should be noted pandora is thought 200% this year. adam: the latest developments of receiving you crushing, police have retreated from the main square renew crash's capital after failed efforts to end protests that left the country in its worst political crisis in ten years. >> the president reached out to religious groups saying he wanted a dialogue for compromise but opposition groups already shot that down and saying it is a comedy and a farce and they
won't have it. whenever window of goodwill exist on the part of the opposition might have slammed shut once force was deployed and that happened last night and the weekend before last but the story is clearly not over. the protesters are claiming victory, that. troops who shot last night was chainsaws and batons. and clear for business and traffic, thousands of police moved in at night to clear out central kiev. protesters pushed back 17 degrees in kiev, freezing but they are still out in force, assistant secretary of state victoria has been in the ukrainian capital to meet with the president and the protesters to whom she handed out savages -- sandwiches last night. >> i made it absolutely clear to him though what happened last night, what has been happening
in security terms is absolutely impermissible in a european state in a democratic state. >> catherine-ton who is that union for policy chief visited ukraine and condemned the use of force saying police did not need to use the cover of night in such a way to engage with the opposition. lots of condemnation about the way this has been handled. the bottom line is as much economic as political, ukraine is teetering on the verge of bankruptcy. it is the question whether they will seek the most comfort or get the most comfort from turning east or west, all of this as you recall started when the president of ukraine at the last minute rejected signing a deal that would have brought ukraine closer to the e.u. a step closer to e.u. membership, closer to russia and they are
leaning towards russia for future economic and political cooperation but again the story continues. adam: what the ukrainians and russians, if you look at history would have thought the natural place for ukraine to go would be towards the european union, not russians. let's go to charles. lori: let's get back to making money with charles payne, to breakdown the markets. you can call this indecisive. charles: indecisive, someone to dull, giving a lot of gains from last friday, the big jump on the jobs market but not a panicy market. these are the markets with individual names set up for a major move to the downside particularly going into earnings. people have to be careful. in the last couple weeks i had a few that got hammered pretty good on guidance that missed the street by a penny. this is a good example. their guidance for fiscal year
14 is a lot worse, wall street looking at $7.54, they have a lot of things, unit demand, increasing the number of americans with high insurance deductibles, uncertainty over the health-care law but look how punishing, that is the gigantic move out of the stock in a single session and we are seeing this almost every day. means that have been really big, stock trading, not one of these high-flying -- lori: how do you know it is not an entry point? charles: just saying if you had it last night and were up 50% it is starting to make the risk of writing these gains and earnings a lot more -- i close out three positions today reporting in the next 48 hours. at this point i would rather take the game or even a small loss as opposed to having that kind of risk but the market is not panicy market but a dull market and you don't want to miss it.
lori: thanks. adam: if you build it they will come and they are bicyclists. the architecture firms plan to build a bike path along the keystone pipeline. won't do you which firm is doing that. lori: boss or bossy, persuasive or pushy, how men and women are labeled differently at work even when they do the exact same things. adam: can use a double standard? ? standard? ♪
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>> 25 minutes past the hour your fox news minute. iran said to schedule a date for a u.n. nuclear inspection of one of its uranium mines. this part of a cooperation pact, the countryside with international atomic energy agency the agreement separate from the one with six w powers last month. on capitol hill john kerry defended that deal lamont mounting bipartisan concerns. former president george h. w. bush using his first week to
remember nelson mandela. and he and his countrymen are in our prayers. the former commander in chief traveled there on advice from his doctors. america in the mountains of nevada. of family of 6 missing for two nights in subzero temperatures found alive. the family disappeared sunday night and were found yesterday afternoon 20 miles from their home. those are your headlines right here on the business network. back to lori and adam. adam: have a great day. breaking news out of the white house, close to nominating stanley fischer, according to dow jones. that was last held by janet yellen who will take over as fed chairperson in january. in bank of is your from 2005 through this year and served as chief economist at the world bank. lori: just as general motors named the woman as its ceo, a first for the industry and new
apps taking social media by storm highlights sexism in the workplace still lingers. dennis kneale joins us with a closer look. dennis: it is great news, a 33 year life for rising to the top at gm and look at this ad for canteen care product. it ran in the philippines, but was far beyond that one market. the thought-provoking spot basically asked why the men are seen as a boss when women are seen as bossy? y men are deemed persuasive when women are seen as pushy? men working overtime dedicated but a woman working overtime is called selfish. why indeed? the commercial has been seen four million times on youtube, part of a pro woman campaign can team is running around world. my question is the hash tag attached to this effort, conjuring up an old music video and was it good? another threat, the new survey by a few research center found 75% of women believe the u.s. needs to do more to bring about
workplace equality. those sites, discrimination is one of five factors at work including family responsibility, we professional networks and women's reluctance to push harder for advancement. speak up. lori: i would get roped into this discussion. you think i am bossy and a showoff? the ad was well done. everyone had beautiful hair. >> every group in america today wants government to do something for it instead of -- lori: this has nothing to do with government. it is about thinking twice. dennis: we have plenty of anti-discrimination laws on the books. i honestly doubt sexist commission in the workplace is far and wide and prevalent and holding women down. i talked to a nobel prize-winning economist, gary becker, the theory of human capital, he said one reason
women earn less is an employee leaving the work force a few years and coming back -- adam: on this topic not long ago, about breaking the glass ceiling. at the end of the day you think we oversthink this? we have all this data, but good behavior in the workplace? lori: i agree with you. adam: women are earning more than clinton, more a graduating college. time will do more than government regulation. adam: lot of decisions to be made every day. lori: i feel for my husband is easier. you wake up, goes to the office and comes home, and not a question of the care giver. adam: you need a new husband. lori: my point is socioeconomic practices say that you should as
a man go out and be the breadwinner. for women not necessarily -- dennis: these attitudes taking effect in the workplace. lori: this is a great talk and at the end of the date is all about great hair. thanks. the canteen ad. that is why i said that. is a great product. adam: a costly way to solve an non problem. the volcker rule was written so broadly as to encompass non-bank holding companies. he joins charlie gasparino exclusively next. lori: check the calendar, friday the thirteenth. another reason you will want to grab the four leaf clover, roger rabbit foot, the four hundred million reasons why next. every day we're working to be an even better company -
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adam: back to the floor of the stock exchange nicole petallides is watching avon who is calling. nicole: i am. the avon lady having a problem today. stock is down 4-1/4% as they are trying to rollout a new program that didn't do so well. look at the stock, $17.06 a share. they were trying to do this in canada which caused significant disruptions. they will have to take a write-down, also laying off 650 workers. today not a debate for avon, down 4%. lori: we have a news alert for
you. friday the thirteenth may become someone's new lucky day, the mega millions jackpot up to $400 million. adam: i bought a ticket, i'd bought the winning ticket. lori: it marks the second largest in history, and adam's last day at work on friday, fifth largest in american history. it will be held this friday at 11:00, estimated cash payout $216 million. adam: i would keep working. lori: you kidding? adam: i like what i do. the volcker rule after all five regulators agreed to comply but is the rule needed? charlie gasparino has an exclusive interview answering that question. >> that is a little bit about the organization, douglas holtz-eakin's organization. >> doug was former cbo director, chairman of the council of economic advisers, american
action forum, policy shop. >> you had the unlucky or lucky task of reading the novel rule, all 70 pages. about 800 pages of explanation. is that accurate? >> 800 pages of preamble, trying to address 18,000 comments that were filed last several years. >> does anyone understand how this is going to work? when you have that many pages of explanations, caveat, back up a minute and let viewers know the volcker rule is supposed to prevent banks from taking risks with their own money known as proprietary trading, there's a broad definition that could include marketmaking, a bank making the market for a customer and sell stock, and to buy and hold it.
does anybody understand it? the second thing just answered or mentioned, the marketmaking part, is that under this law? >> what you were getting at is the fact that if you are looking at fine lines, explicitly exempt markets they can enter which specifically u.s. securities and -- >> to buy u.s. debt. >> just a month ago the fed released a proposed liquidity rule which requires banks to hold more in liquid security like u.s. treasurys so of the question of what you were saying does anyone understand it, it is not fully defined, parts of the law, parts of the rule that say these activities are subject to bank holding company apps, section c etc. and subject to future agency rulemaking is necessary. and the lot of leeway in
determining, we're talking about a fine line. and i could trade as the marketmaker. and depending on the fact of circumstances. >> trading on behalf of your planned, may have access cash margin in their margin account, institutional investors rightly use those lines. >> let me ask this, a key question i got all over my twitter page, they are basically, i heard smart people say goldman sachs is considered a bank holding company, they come under the bulger will. good goldman sachs turnaround and say you don't want to be a bank holding company? let us go out and do what we always do which we made a lot of money, proprietary trade by giving of the designation and
that gives them access to the fed window. >> we talked about this briefly yesterday. goldman sachs is a special bank holding company. under which they are allowed to engage in a broader set of activities than traditional banking. they registered their bank in new york state law in 2008, became a bank holding company and the financial holding company. the key here is this what is written broadly enough to make sure the largest financial -- this lot is primarily aimed at the 12 or so largest institutions. >> including goldman sachs. >> dodd-frank created a stopper in the drain. even a non-bank financial company which is a prerequisite is primarily engaged in financial activity, that could be pretty much anything,
designated to be subject to enhanced supervision by the fed. >> i want to be clear. you describe this, haven't heard anybody clearly, goldman sachs stock is up, can they rescind their bank holding company status? >> i don't think so but they could minimize their exposure by getting rid of certain businesses. we have seen rumors of a flight of talents away from certain banks. >> one of the clearest explanation of the volcker rule yet. lori: game on if you're one company bringing tech to the basketball court and this smart ball could help you. adam: a pipeline is not the only thing propose for the keystone path way. the architecture firm that plans to build a keystone bike path
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in los angeles. amazon customers can select drop-off times within one to three our windows. barnes and noble chairman leonardo wikio lost a $52 million on the sale of two million shares, thirteen dollars and $0.81 apiece yesterday. the move was strictly a tax decision and doesn't intend to sell any more shares. 9 of 10 chief financial officers are more optimistic about u.s. economic growth in 2014 than a year ago. the study found 54% expect those companies' sales to be higher than this year. that is the latest from fox business giving you the power to prosper.
the next guest to join those things that is the answer and has the plan. creative director of f.w. a group, an architectural firm that designs google's corporate campus and you also have this plan to build a 1300 mile pipeline bike path over the keystone xl pipeline should that ever get built. how does your plan or proposal received? >> thanks for having me on to talk about my modest proposal. it gets mixed reviews kind of depending on your politics in a way however, what is shocking is in a lot of ways it doesn't depend on your politics. people on both sides kind of hate it and people on both sides seem to really like it so it is starting to do the things we hoped it would do which tended to defuse the black-and-white argument over the pipeline and think about different things, different ways to think of it.
adam: and things people who hate it have to say. tell me what people who like it have to say. it is of $400 million project and i say good luck getting tax money to build this thing. >> we have done these things before and they often happen at different scales. we get our cost estimate of half a billion dollars but the bay bridge and san francisco $2 billion. it was something that we defines a swath in the middle of the united states, the heartland and gets people different way to think of that part of the world. it is a beautiful country. adam: they say the bay bridge is necessary for traffic. this is more the keystone pipeline, i know they are opposed to it and said we have to have access to the pipeline should god forbid there be a spill of some sort, the bike path would be in a way.
a quote you made in a newspaper article when you talk about people on the coast don't know anything about people in the central part of the country which is valid. i've lived in the central part of the country. native americans, cattlemen and oilmen, you think you will need these people in this bike path? >> there's an opportunity for that. we had telephone calls and e-mails from people in small towns in the middle of the united states. these are places on the pipeline now. in the future they could be on a bike path and the bike path, people who decide to ride it could stay in hotels and eat at local eateries, local food things that start to happen. different businesses that would open up along the length of it. one of the negatives about the pipeline, 20,000 jobs but are temporary. more jobs that are extremely
permanent. i think if you start looking at the nuances of if it gets interesting. we have also done this on a smaller scale already in houston, texas where we trail supporting facilities over pipelines. a lot of negotiation happened and are different entities and sources of money we tap into but it is happening already. it is the -- adam: 1300 miles is larger. we have the highlight in new york which is a version of this reuse of property. appreciate you joining us. all the best to you. lori: how about a market update with gray wolf, execution partner, martin newton. stocks now well of the lows of the session. investors are focused on washington, perhaps news of a budget deal means the fed is more comfortable to taper adding to the weakness. what are your thoughts? >> i think it is a drying up of
buyers. as you approach the holiday season typical to see buyers dried up and potentially exacerbate volatility in either direction and pretty overdone to the upside and we are backing the little bit which is not too dramatic. we are down 0.3% being led by industrial materials. one index i point out dow jones transportation is testing december lows and below 7,084 it has the potential to pull back a bit more and that led to a little weakness in the s&p and the dow but right now most of the key indices are well above support and we haven't done much damage. still down 4-1 on the downside and volume right now flowing into decline and inventing a 6-1 pace. it is higher than we have seen over the last few weeks and we are in the month of december which averages 1.8%, fairly bullish bet indices have not made much progress basically at the levels we hit in november.
lori: always a pleasure. making your dreams reality. adam: the basketball that monitors your ball handling skills and shooting and provides -- webmac ago, joe. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell.
michael crawlies information founder and ceo and we welcome you to the show. we have show and aaron from our staff. joe played high school basketball, cost $295. why is this different than any other basketball you can buy? >> thanks for having me. the first thing you notice is it looks like any other basketball. that was by design. in talking to our customers early in the process they wanted something that was familiar so if you compare it to a normal ball it will look and feel like anything else you have seen. it becomes different very quickly, actually interact with you, it indeed is you and starts to learn about you as soon as you started using it. that is what it is designed to do. when we started to see how the market had changed and kids had started to learn differently, they want that input that is fast, personalized. adam: read it out on your smart
phone. >> exactly right. we put sensors in to learn a muscle memory you are developing to give you that feedback and in sports that are very complex. a lot of complex things going on in basketball and soccer. lori: i grew up watching kareem abdul-jabbar and dreams of playing center for the l.a. lakers. obviously that is the pipe dream. who was the ball designed for and how can you expect your skills to improve by using the smart ball? >> it is designed for the to 20 demographic and what we have learned and what we know about the human mind is we are designed to our mind the designed to learn motion early in life and that makes us different, we have fingers and hands that are precise. it helps you learn a complex motion to do it the right way everytime and give you little pieces of success to build those
successes into one larger success over time and much more quickly and we have seen 4 and 5-year-olds use this ball and have amazing improvement because that is what our minds are designed to do but we have also seen skilled players who have a specific weakness in their game. use it to correct that weakness. it spans the gamut of the age groups we fell to. lori: no chance of me being in the nba ever. adam: wait for the next thing to help. so you can get right at. lori: time magazine, the person of the year. he is being attacked as anti capitalism. tweet us. our debate is next with tracy byrnes and ashley webster. they will take you to the next 5 area hour. tdd# 1-800-345-2550 seart spark youruriosity
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ashley: i'm ashley webster. the pope, "time" magazine's person of the year being attacked as anti-capitalist but is he? tweet us your responses in a fiery debate coming up next. tracy: in my opinion. mastercard shares charging forward on word of a 10 for one stock split. think we have to go to peter barnes right now down in d.c. hey, peter. >> hey, tracy. we have the monthly report on the deficit from the treasury department and the deficit came in for the month of november at $135 billion, and that's about a 20% drop from the deficit last november. and this continues this trend of lower deficits we've seen because of the tax increases back in january at the beginning of the year as well as the stronger economy and the spending, spending caps at least, no increases in government spending for the fiscal year-to-date, first two months of the fiscal year
starting october 1st, fiscal 2014, the deficit has come in at 227 billion versus 292 billion for the same time last year. also about a 20% decline. and, this new bipartisan budget deal announced last night could help to shrink deficits a little more as well as avoid a government shutdown for the next two years. busts the sequester a bit, providing $63 billion more spending over two years split evenly between defense and non-defense spending. include $20 billion or so in new deficit reduction in 10 years. it does not increase taxes or continue expiring unemploymentbenefits or increase the debt ceiling. it raises airport security fee $5 per one-way ticket. extends cuts to medicare service providers for two more years. makes modest reform to federal
employee and military pensions and raises premiums companies have to pay for federal insurance for the pension programs. one economist said this could help boost economic breath2014. >> in 2013 we had the massive tax increases and spending cuts. we still are managing to grow about 2%. once you take, once you go into a year with no further tax increases and no further spending cuts, that's a big deal. the underlying economy is quite strong and if you can let that show through you get a number close to three, maybe even close to four. >> that would also help boost government tax revenues, right? and help bring those deficits down even more. tracy and ashley, back to you thanks very much, peter barnes. one of those agreements no one really likes. i guess it is an agreement and we should be happy because nothing comes out of washington. >> the bar is that low. it is terrible. doesn't sound like any good news to me. let's get back to the markets
now. nicole petallides on the floor of the exchange. the dow is down 56 points. look past the bipartisan budget agreement to see what is going on down there, nicole. what's up? >> dow jones is down 56 points, much improved earlier today when we were down triple digits, down 100 points. we recouped some of those losses. s&p is down 11 1/2 points at 1791. that being said there is still a lot of fed taper talk on wall street. they wouldn't be surprised to see 10, 20 billion of taper of stimulus. take some of that off the table. that may be a possibility. so we'll watch for that until december 1th. volume will be something we're watching here now as we go into the holidays. will there be volatility as well. maybe people taking money off the table. don't forget it is year end. many people made 20, 25, 30% on the money depending which index you follow and which group. overall the s&p is shaping up to have the best year in a decade. the vix, the fear index, has
been to the upside. back to you. tracy: thanks, nicole. see you in a bit. i'm sure you heard by now pope francis the pope of the people, he is the person of the year. being attacked though as anti-capitalist so is he? tweet us your answers. we'll put them up along the bought screen. joining us to debate this, matt welch, co-host of fox business' hot new show "the independents". are very own liz macdonald. aka sister teresa. we'll searly debate it. anti-capitalist, matt, go to you first. >> every modern pope is extremely uncomfortable with global capitalism. john paul ii was not particularly enamored with modern capitalism. they're social democrats from economic point of view. what makes this person different at time of occupy wall street and elizabeth warren and saying absolutist statement that is
everything in the modern world is under the law survival of the fittest and powerful are smacking on the powerless where i disagree with him. ashley: liz, you disagree. >> he is not cite, the pope never mentioned capitalism or word capitalist or capital in his exhortation. he is adhering to the catechism of the catholic church. it is against marxism. says explicitly against collectivism and also talking about corruption. he said quote, no matter what the political ideology is, that could be crony capitalism which pope had first row seat to in argentina. what he talking about idol at this of money, deiffycation of markets. and. that is what his focus is. he is talking about evan gellization. talking about outcomes. not talking about any political ideology whatsoever to get there. tracy: isn't that, matt, what the pope is supposed to do?
make you things about other things other than yourself and cars in the garage? >> something like that. i totally agree with him for what that is worth. life shouldn't be about money at all times and we should care about people who are poor. the best way to get people out of poverty, and best way last 25 years better than in the history of the mankind is markets and capitalism. he portrayed the world as if poor people have no means of escape. that is a quote. he is wrong about that they have means of escape in places like china and india, precisely. >> china they're killing people right and left. >> it is not a golden plate. ashley: is this biting the hand that feeds you? 60% of the global wealth comes to the united states from the catholic church and demonize the a little bit the pursuits of money, the church certainly benefits from that. >> he is not demonizing. he is -- >> i think he is. >> talking about idol at this of
money. i is warning people into the to worship and have a defied -- dei havefied market. talking about distribution of income. that makes people a little upset. talking about the government distributing. then again he could be talking about crony capitalism and improper spending by the government about money. promoting the poor, what jfk said, the best form of welfare is a job. i hear what the critic has to say. ashley: that is what capitalism creates. >> i think that is what the pope would say too. that should be taken on compliment and focusing on free market and set aid sigh marxism which the catechism says is eoil. tracy: i thought he was being of the people like he is. are we so sensitive to the occupy wall streets of the world because this went entirely the wrong direction? all he is saying think about others. >> the other thing he is a
interesting character as non-catholic he is infinitely more ininteresting than his predecessor was. he goes out at night an helps people. he is moore humble pope we've seen in a long time that itself is having. this was very much in keeping and part of that. again, what popes have been saying now for the last several decades. >> that's what jesus said. >> not exactly new. i think what we have to be careful of is to make sure that we don't start thinking capitalist system itself is the problem. ashley: true. liz, kind of hard perhaps for those that have the catholic church live in the golden palace on the top of the hill to preach about being more cognizant of those who are less fortunate and sometimes -- tracy: he doesn't live in the apartment. ashley: doesn't matter. the church itself has many, many riches. vatican bank. it -- >> i hear what you're saying. ashley: it sounds a little hypocritical. >> many priests and nuns who work with the poor personally told me they find that to be a
problem. in other words you and i talked about jesus would be at local starbucks. tracy: hanging out. >> not in a big swanky building. let's return back to the issue at hand. what is the best way to help the poor? capitalism, right? in fact pope john paul had talked about that too. also pope john paul, conservative pope, had talked about the best way to get people up in their standards of living is through capitalism. in fact one of his big cyclicals was about that. tracy: matt, last to you. >> this is interesting pope. i'm glad we're talking about that. i hope we don't necessarily see as we saw in "new york" magazine and pope and deblasio's statements interchangeable. they had a quiz online. that is where democratic politics are on in this country. that is to the left where we've seen in more prosperous era for instance under bill clinton. tracy: i hope in the meeting they were deciding who the person of the year was it wasn't a tough guess between the pope and what is her face? help me.
miley cyrus. >> pretty striking that "time" magazine set aside the twitter poll and didn't go for miley cyrus. that is another thing. >> that is very true. great debate, guys. tracy: matt, with the show good luck. everybody watch at 9:00. thanks for coming in early for us. ashley: good stuff. tracy: 9:00 p.m. eastern fox business. ashley: "the independents." there they are. what a good-looking group. charge. mastercard shares surging after announcing 10 for one stock split. charles payne whether companies should follow suit or find different ways to reward investors. tracy: taxing. what you need to know to reduce it this year and next. turbotax's vice president is here to give you tips. ashley: a picture is worth a thousand words. look at the first lady as the president obama hangs out with denmark's prime minister. she is not too happy. more on this ahead. tracy: that is a look. as we do every day at this time, look how oil is trading. down about a buck.
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accounting trickery? you know i'm going to say that. >> so funny though. you know, 10 to one stock split, priceless. today it is because the stock is up by 4%. you know, people should know it doesn't change any of the dynamics of company. ashley: doesn't add economic value. >> doesn't add economic value but the idea the share price becomes more attractive to small investors. its really weird, in my mind for a company this large to do this. i really don't, i don't get it. to be quite frank with you, i don't know why they're doing it and why they want smaller investors in and out of their stock on a whim. talk about what really i think is the big news here the dividend increase. a buck 10 from 60 cents. that is an 83% buyback. accounting tricks. what does those say? we are confident. we are supremely confident. by the way this is great proxy
for the global economy. let me tell you, their volumes without the united states, in the last quarter were 729 billion. united states is 316 billion. tracy: what does that tell you? people like me, because i've been using my mastercard fast and furious because of christmas presents, are charging their life way way again. >> they're charging like crazy. you know what is helping them more than anything else? debit cards. people buy a cup of coffee with a debit card. ashley: that's right. >> you talk about nickel and diming? debit card in america last quarter was $164 billion in transactions. up 12%. ashley: people don't have cash anymore. >> around the world, up even more, up 22%. this is american habit spreading like wildfire. you guys are having the debate about income inequality and capitalism. ashley: yeah. >> this is part of american capitalism everybody seems to love. the ability to put down piece of plastic whether it is your money or theirs. tracy: i will be the first person to pull out my debit card
for cup of coffee. i never have cash on me. ashley: everybody in line does. >> i never had credit card until i got married. ashley: it was a slippery slope. >> i don't carry my debit card on me. when credit card bill comes, they can't blame me. tracy: charles payne. that is a good pick, charles. i like it. >> thanks a lot, guys. ashley: thanks, charles. quarter past the hour. time to check markets. nicole petallides on floor of the new york stock exchange. nicole. >> have got a couple of names for you to look at here. looking at twitter and groupon. twitter up more than half a percent right now at 52.36. hit new all-time high today. was 26-dollar ipo in november. group gone is up 2. of%. talk about why these are on the move -- 2.6%. macquarie started twitter with neutral rating and price of 46 bucks. glass door look at technology companies, which put twitter,
which dethroned facebook for 2014 the best tech company to work for. this is according to job listings. this a ratingses site, glass door. wells fargo made a call on groupon. raced rating to outperform from market perform. said they are poised to grab some market share in the huge local commerce markets. you see groupon at $10.30 a share up 2 1/2%. back to you. ashley: nicole, thank you very much. the dow is down 25 points. going to say, it was freezing cold when we came in here. started to debate the pope and suddenly got hot in here. i don't know if it's a correlation. tracy: heated. ashley: is that where i'm headed? somewhere hot? tracy: i hope so. come on, you know. i'm thinking the bahamas. ashley: oh okay. tracy: tomorrow's business today. automatic everything. it is the intelligent house of the future. we'll take you on a tour next. ashley: very cool. medical dollars. fantasy now, reality, with debut of the world's first bionic eye.
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capital city of kiev. the situation has been escalating since the government backed away from an economic deal with the european union leader under intense pressure from russia last month. the body of antiapartheid leader nelson mandela lying in state today. hundreds of people in pretoria, south africa, filed past the glass covered casket say to say good-bye. among dignitaries saying good bi, the robert mugabe and u2 singer bono. former president ggorge w. bush using his first tweet to remember nelson mandela. bush 41 tweeted, barbara and i wished we could join the u.s. delegation honoring president mandela today. he ant his countrymen are in our prayers. the former commander-in-chief didn't travel to south africa on advice of his doctors. back to ashley and tracy. ashley: arthel neville. thank you very much.
we appreciate that. new technology is making it possible to turn your house into an intelligent home. good luck with mine. fox news' adam housley is in l.a. with the details. adam? >> hey, ashley. we call it "the jetsons" home for more layman's terms. you can control anything from your house, whether affordable home like two bedroom, two bath. or something like this. we're in beverly hills. this home is for sale for cool $36 million from the agency. if you're so interested. do this with my iphone and opens up the garage door for this case, opens the garage door. i can turn on lights and do all sorts of things. as that opens up, i hit the wrong button. it will open here in a second. meantime you have ipad availability, iphone availability. you can do anything anywhere in the world to control your home. we went to home more modest in park city, utah. that home a fantastic setup there. you can control water. you can control, temperature,
door locks just about anything you can imagine can be controlled from your home and everywhere. a lot of companies getting involved in this. local cable companies are. telephone companies. companies like honwell getting involved much people say this is just fantastic. they say it is great for the consumer and the companies. take a listen. >> one of the great things our solution offers is a whole degree of personalization. what we're able to do is make the home interactive to the interact the way the consumer wants to interact. >> you can set it up with a text message alert on your i mail or your smartphone or whatever. so that you know when the door opens, a picture is taken and actually go and see that your two kids have come home. >> give you an idea of interface, this is control four, one of the companies out there doing. look at this stuff you can do. everything from garage door sensor doorbells, gates, driveway sensor, humidity sensor, smoke detector, water,
can changetemperature. you can close the garage door if you forget someplace else. it will alert you and close this thing back down again, from anywhere in the world. that is what is so amazing, ashley, it is affordable. you can do this whether you have a 30 sick million dollar home or more modest home someplace in the country. ashley: very cool. i love remotes as most guys do, adam love it. fox news' adam housley. thank you so much. tracy: i would so like mess that up. ashley: almost it didn't go up. tracy: lights would go off. you got lots of changes in the tax code so how can you plan for it? we'll tell you part two of our tax pain series. ashley: in tech minute, a new video process brings your photos to life. you won't believe what those tech genuses at microsoft have come up with. tracy: why president obama might have a lot of explaining to do to the first lady. look at mrs. obama's face as the president spend time were with the danish prime minister. that is not a happy face for
those of us on siriusxm 113. dow is down 75. biel be right back. hi honey, did you get e toaster cozy? yep. got all the cozies. [ grandma ] with n fedex o rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate.
ashley: well it is 90 minutes until the close. look at the dow 30. a lot more red than green. the dow is off some 73 points. a tough day for cisco. they're getting citigroup initiating cisco with a cell rating on concerns over a loss of market share -- sell rating. that means not such good news for them. european court also rejecting a challenge to cisco that clears the way for microsoft to take over skype. cisco down a little bit today, down about as you can see 34 cents at 22.86. nicole petallides at new york stock exchange with
newcomers to the deal today, nicole. >> let's check them out, right? talk about valero energy partners. it has been rising in its first day of trading. it is to the upside, up five 1/2 dollars at 28.42. we're seeing that jump big-time. a san antonio company. they raised $345 million to the offering. there is autohome, athm, up 13.13 cents. big percentage moves as well for these two names. autohome a owner of chinese websites. it is important to know what each of these do. it has been rising. this is the u.s. market debut today. tracy: thanks, nicole of we'll see you in a bit. all right now on to our special series, tax pain. from complying to obamacare and married same-sex couples filing joint returns there are actually really big changes that you need to know about.
we'll help you walk through them all. we have turbotax vice president, cpa is with us right now. i'm glad. there is a lot. people need to know they need to get online, pour a cup of coffee and stiff drink, whatever requires and run your return. >> you will not snow where you stand until you put some numbers in there. talking about married same-sex couples. they have to file jointly this year but this is a great opportunity for them from a tax perspective. they can now file amended returns for the past three years as joint filers. there is potential for them to get money back. tracy: turbotax you call it the doma tax kaster, but it is free, right? they can get in there and work these numbers? >> it is free. one of the great benefits that figuring out whether you save money filing single or as married jointly takes some time. tracy: yeah. >> this tool actually makes it very simple and fast do i take the route of filing amended
returns? if you do have to file an amended return, turbotax will give you past three years software free of charge to file those. tracy: an exercise worth going through. part of the exercise has to be the health care issue now whether or not you qualify for subsidy. >> that's true. what is the subsidy? how much is it it? can i afford it? we have online application that will help you determine what the subsidy amount is, how much are my out-of-pocket costs going to be. we'll even allow to you shop for a plan that is appropriate for you. yes, sir, our site is up and run. tracy: the good part is when you dot tax return you can get this all done simultaneously. what else is new we should be worried about for 2014? >> one of the things i would at least alert to is the fact that if you file early and most early filers get a refund, the irs already announced there's potential two-week delay in the opening of the filing season because of the sequester and the fact that the government workers were out for two weeks. so they're talking about
potentially end of january. tracy: this to me is awful. basically and these are my words, not yours but irs is saying well they screwed us, so we're screwing you. we're pushing everybody off two weeks because we were shut down for the sequester but people with w 2s who live for this money will be hurt by this. >> it is hurting the people who need the money the most. tracy: right. >> people who work, who basically live paycheck to paycheck. they need the money. good news, if there is any good news at least with turbotax they can file early and it is put in line first to be processed then when we sent it to the irs. tracy: in the queue when they open the doors. >> don't put it off. just going to hurt you. tracy: we talked about 3.8% on investment income and people need to start harvesting losses. you and i were talking about e-filing and a lot of people are doing it. >> 84 to 85% of all americans today are electronically filing. so when we think back to the days of printing your return and
mailing it in, it is almost gone. it is really great because people love the convenience of pressing a button. having it electronically transmitted to the irs and getting your refund sometimes as little as 10 days. that is a pretty good estimate. tracy: it is awesome. i've been there and done that. tell everyone quickly about the phone app. >> oh, the phone app. we have a application that allows you to prepare the simple return on a iphone or, any smart, smartphone device like that. the great thing is that 60 million americans today have a very simple return which only tax document is a w-2. snap a picture of the w-2. all the information is transcribed in. information is virtually done. tracy: 60 million still file very simple returns and take advantage of stuff and get your money back and get in the queue like bob said. thanks for being here. >> thanks, tracy. ashley: from taxes to your tech
minute, hello asia. google opening its first-ever data centers in asia as it looks to boost its growth in the region the tech giant has picked taiwan and singapore for the first locations. google says it plans to spend $600 million on the biggest facility in taiwan. the company has no plans to open data centers in china and india despite huge population bases and regulation and cyberspace censorship as main reasons. google shares are flat today but up 50% in the past year. enhancing the visual experience, microsoft release as third generation of the technology that turns 3-d images into video experiences. photo synht has four types, spin, walk, panarama, walk and mimic the visuals in layman's terms thank you. you up load the photos to microsoft's cloud. the technology looks for points in the successive photos that appear to be the same object and
calculates a smooth path between the pictures. there you have it, very cool. the new system is recommended with people with dslr or point and shoot cameras. you know who you are. environmentally friendly vesper writers check this out. this is kubo. imagine this in new york city. a new electric scooter with cargo space developed by lith motors. electronic car making is hoping to fund the scooter with the kick-starter ampaign. als of today only $45,000 is raced towards a goal of 300,000. it can reach speeds of 45 miles per hour. has a 300 found weight capacity. that is the cargo and rider. may want to diet. can travel 50 miles before needing a charge. has 22 inches of cargo space. people will laugh as you go by. hey it is kind of school. tracy: over the summer, with a scooter, had to wear my beach chair on my back, swear to god. this is way better. i like this.
ashley: send the photo. i want to see a photo of that. tracy: no way. helmet, beach chair. it was pretty. how cool is this. in medical dollars a bionic eye to help people see again. we speak with a president of the company that created that. ashley: paul bunnian has nothing on jeff flock. guess where jeff is right now? >> i am at a tree farm in wisconsin. listen to that saw go. you want this tree? let's take a look. watch and listen. as the christmas season kicks into high gear. [chainsaw motor] ly use helps you be ready anytime the moment's right. ly use you can be 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,
and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop takg cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adis. but, of course, 's a good listener too.
[ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. >> i'm jo ling kent with your fox business brief the royal bank ever scotland has agreed to pay $100 million to federal and state regulators to settle allegation that is it violated u.s. sanctions against iran, burma between 2005 and 2009. pandora shares are down, after rival spotify launch ad free music service for smartphones and tablets. spotify has 24 million active listeners. pandora has 70 million listeners. this is the steepest pandora drop-off since september. focus is the new case study by the organization for economic cooperation and development. the eocd mapped out the supply chain for the ingreed insof nutella and found it take as global effort from nearly every continent to make nutella a
ashley: in today's medical dollars report you might remember the hit '70s tv show, i do, the six million dollar man, starring lee majors, remember that as the first bionic man. hollywood fantasy now reality with the debut of the world's first bionic eye. it was created by a company called second sight. the company president, dr. robert greenberg joins us now. doctor, thank you so much for being here. explain to me how this eye works and what impact it is going to have. >> so it is really a revolutionary medical device for patient who is are blind with retinitis pigmentosa. the way it works a video camera from glasses that picks up a signal in front of the patient and wirelessly transmitted to
implant to the implant implanted in the patient's eye. ashley: sci-fi stuff. how long has this been in the testing process? >> it is about a 25-year development. we joke about the, we joke about the six million dollar man because it cost $200 million to develop. ashley: yeah. i mean the "six million dollar man is probably three trillion dollar man in today's calculations. who does this help in particular? is there particular type of eye disease for those patients can take advantage of this eye? >> there is. the fda approval that we received earlier this year was for particular blindness called retinitis pigmentosa but we are planning next year a clinical trial in macro degeneration patients as well. ashley: is there a particular challenge? i imagine with eyesight and anything to do with the eyes it is very intricate and very difficult and to provide site that is not there. is this one of the hardest things in the medical world as far as restoring eyesight?
>> it certainly one of the most challenging. one of the most challenging medical problems that we've faced. alfred mann, the company's founder, who's created many, many medical devices from pacemakers to coke lar implants to diabetes treatments felt like this was the most complex challenge and because the eye is so complicated. we have about million cells in the eye that we're trying to replicate electronically with relatively crude electronics compared to what the body can do. >> yeah it is amazing. how much does this cost? i mean is it, you know, for a patient who wants one of these and would fit, you know, the profile if you like, how much does it cost? >> well fortunately the devices are going to be covered by reimbursement but the costs for the implant is about $145,000 and, a lot of what is driven, what is driving that cost is
just the complexity of the inplants today. ashley: how dramatic is it for the patient? >> you know, it is, the patients tell us it received the device that it is life-changing. imagine going from complete darkness which these patients currently elgible for the device are in, to then being able to see a loved one. to see a, be able to follow a line, find a door in the room and those visual cues we all take for granted. it is not normal vision but the very best patients who receive these devices can actually read letters. going from complete blindness to identifying objects and even in many cases being able to identify letters. ashley: well, it is remarkable. congratulations. continued success, dr. greenberg. thanks for being here. >> thank you. very much. tracy: cool story. ashley: it's a cool story. 25 years from concept to actual
product. tracy: yeah. god bless them for sticking with it, right? >> yeah. tracy: how about this? he can christmas tree indicator. what can christmas trees tell us about economy and consumer spending this holiday season? believe it or not jeff flock can tell us is at a tree farm in which is with the story. hey, jeff. >> you said it, tracy, hello. i come on erosion of two holiday traditions. one, concept of having a live tree that somebody cuts down here in the forest and goes into your house like glen is doing here at countryside trees in wisconsin. of the other tradition that is eroding is actually buying your holiday presents in an actual brick-and-mortar store. look at what shoppertrak found today. first reported here on the fox business network as the tree falls in the forest and we do hear it. traffic for the holiday season last week, year-over-year, down
21%. that's huge. an indication perhaps a lot of people are going online just as in the tree business, a lot of people are going to pvc, trees made in china. i want to get glen's take on that as he cuts. we'll knock this one down first and i want to ask him, do you have a continuing erosion with people that want these live trees, because why? they think it is a mess, what? >> no it is not a tree because they have a nice fragrance, a tradition a family tradition. just not the sail as a fake tree. they're recyclable. they absorb the carbon in atmosphere. they produce oxygen for people. all around they're good all the way around. it is recyclable plant. >> i love it. i have one in my house. think i that is wonderful. the heck with those fake trees. left's get rid of them. these are renewable resource. ashley: you know, jeff flock has
a $300 tree, i heard this earlier, 14-footer. tracy: should i tell jeff flock i have one. >> i want to pay more for everything. i'm helping the economy personally. somebody says 2 grand, i won't pay more than 2500. tracy: jeff, i'm one of those people that have those fake trees. one plug, 200 lights. >> your children are scared. tracy: they really are mad at me about it but until they're big enough to get one themselves. ashley: here, kid, here's an axe. go get a tree. tracy: until they're big enough, a fake one. ashley: quarter till. time for stocks, after a quarter till. let's head down to the new york stock exchange, jonathan corpina. i bet jonathan has a real christmas tree. tracy: i bet you're right. >> funny i have two. one real one and one fake one. ashley: ah, very good. jonathan, what is it more profit takeing? more talk about taper? we're seeing markets wanting to move a little lower?
>> same headlines just regurgitated all over again. nothing much to hang our hats on so we try to find things to trade off of. that is directing sentiment in the market today. as we get later in the week a lot of economic data. we have a big ipo at new york stock exchange. hilton hotels tomorrow which will add more spark and sentiment to this market. as the week continues to move on we'll get more activity. i think we continue to see overall upward momentum as we get toward the end of the month. ashley: very good. jonathan corpina, thanks very much for joining us. >> thank you. ashley: one real, one fake. he has every base covered. the service that brings over the air tv to smartphones is becoming an even bigger threat to broadcasters. tracy: in that picture president obama with the first lady looking on with that that look of disapproval? hmmm. we'll have more pictures and talk about that ahead. dow jones down 62 points. don't go anywhere. my customers can shop around--
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tracy: so aereo gets airborne. the controversial smartphone tv service now in 10 markets. it may sign on a powerful new partner. dennis kneale of course here with the story. hey, dennis. >> you wonder how aereo still be in business. to hear old line broadcasts networks that aereo steals supposedly free signals out of the sky and resells to subscribers for 12 bucks a monthp without paying them. the systems asked the u.s. supreme court to intervene. it may get a formidable new ally in fight with the networks and google and the google chrome cast. this thumb drives plugs into your intervet tv to stream video to your tv. it may go from the tiny screen from the smartphone on to the
giant screen in your living room. aereo's ceo telling analysts yesterday he is surprised some users are reporting service on bigger screens though encontinueded for tiny tablet, and smartphones. it helps viewers go over the top as cable calls it, skip hundreds of channels and download a sliver of shows over internet. best known backer, barry diller of iac corp. you can see why diller made the bet. aereo already profitable in a few of 10 markets where it turned on service. denver, detroit, faring welk. miami, new york, disappointing. the service can turn profit on only 6500 subscribers in the market. ceo says, no wonder, aereo it doesn't have to pay for the programs that s&pes you everyone else does. they hope the u.s. supreme court will step in and fix that. tracy: big ol' legal matter. ashley: you taking something, you're taking someone else's content and programing and reselling it.
>> the airwaves may be free but the stuff that rides on those airwaves, cable pay as lot for that. there is no reason aereo shouldn't have to pay something too. tracy: agreed. ashley: dennis stick around. >> okay. ashley: we're having fun with this. have you seen this picture from the "new york post" this morning? it is classic. president obama joking around with denmark's rather attractive prime minister at the memorial service for nelson mandela. well take a look at mrs. obama. see her in the top right-hand corner. she is not happy about it. but as i mentioned the "new york post" going as far as saying looks as if somebody will be sleeping on the white house couch. i don't know if we have any other pictures. there are real doozies. looks like mr. obama was enjoying himself with the prime minister who is by the way also married. tracy, maybe the president should buy the first lady flowers after this. another great picture. >> here is the biggest meaning. even when you're most powerful leader of the free world you still get in trouble with your wife. my gosh. ashley: the person that took the
picture said all a misunderstanding it. was a moment meant in time and first lady -- >> there is no misunderstanding there. ashley: there is a lot of photos where she is not happy. >> first lady got mad at him when he danced with another latina. got miffed about that. tracy: first lady needs to take a chill pill. relax. he is coming home. it is all good. >> bill clinton, barack obama. i say bill clinton was the bigger flirt threat. ashley: you think? >> never saw a look like that on hillary's face. tracy: no, she wanted him to go at some point. she wanted him to dance off in the sunset. ashley: there is another photo where she is really not very happy at all. tracy: come on. ashley: so funny because he having best ol' time. what do you think of taking a self-if i at a funeral. , if kids did that, please stop account selfie. ashley: mr. president, stop it. we'll know the share price of
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liz: hello, everyone. i am cheryl casone in for liz claman. we have been looking at a sea of red in the market today despite a budget agreement on capitol hill. the deal sent spending levels for two years and the sequestered with other savings. president obama called the agreement a good first step, but as it is off with good news, i got investors worried about the fed paper once again. a couple of rival s&p 500 companies are enjoying nice
gains today. visa and mastercard. mastercard shot up after the board increased the dividend by 83%. as you can see mastercard solidly in the green, 794 per share. up 4%. mastercard good fortunes helping visa. benefiting from regulatory changes in europe. look at visa. a gain of almost 4% as well, so those are two positive names to watch for you today. a market that is not feeling the love today, not getting much of a boost at all after citigroup went on a downgrade rampage today. citi took the acts out today, who did they go after first? nicole: citigroup has been the big lagger on the dow jones.
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