margins from mid teens to low 20s. >> if you're an investor great level to get into dxj. >> fsnr, buying. >> xtron, buying. >> that does it for us. dow's at highs of the day. talking 100-point gain. power picks it up right there. we welcome you to "power lunch." breaking and surprising news. media titan rupert murdoch filing for divorce. a lot at stake for him. our wealth editor robert frank is here with what that means for mr. murdoch. >> well, indeed there's a lot at stake but not as much as people think. rupert murdoch worth around $10 billion, $12 billion founder on news corp. people tell me wendi, his current wife, filing for divorce, is 44. they met at a company party in hong kong in 1997. big age difference. he's of course 82. people tell me they had

increasingly been leading separate lives recently and that maybe rupert has either moved or plans to move out of their apartment. now, it's unlikely that this divorce will cost him much. i'm told by people close to murdocher that there is a prenuptial agreement. we don't know the amount but it would limit financial impact of this. and also limit the impact on the company. of course a lot of intrigue about who controls news corp. right now it seems that the iron-clad trust that protects rupert's three older children is not going to be affected by this and that whatever payout there will be, will in the form of cash as opposed to company control. >> one of the curious things, we were talking about this in the newsroom, when we harken back to the scandal that erupted in london and mr. rupert was testifying in london, there was a pie thrower who came to try to get mr. murdoch and his wife -- >> came to his defense.

>> not only came to his defense, basically leapt over people to try and block that from happening. i mean it was a show of passion and affection. so this takes a lot of people by surprise. >> it was so interesting because just before that, there had been a lot of rumors in media circles and even among people friends with both of them, there had been some sign of strain between the two. that not only quieted concerns but also made her much more likable in the public eye. she was born in china, many people thought that she had sort of married rupert in 1999 more out of the opportunity that created for her, given their average difference and that pie-throwing incident showed how loyal she was. we don't know what's behind the breakup but it does take a lot of people in the public by surprise. they had been leading separate lives recently. >> interesting. thank you very much. >> sue, let's take you through the markets now. and take a look where the dow

stands. nasdaq and the s&p at this hour. and if we can put up a chart. the industrials bouncing back after yesterday's second triple-digit loss in a row. highs of the day up 94 points at 15,089 above 15,000, obviously. nasdaq, 3423, up two-thirds. and the s&p up 3/4 of 1% at 1624.31. >> nice gain on the day. let's talk about thit wis bob pisani and a cnbc contributor. not enough to break us through those ranges on the upside that you've been looking for. but an impressive performance, nonetheless. >> yeah. you know, i think it's definitely the bounce, right off the 1600 level with the fed defending that level, right? pumping $3 billion in their schedule today, their stimulus package. so therefore, the markets kind of technically bouncing. what you have to watch, though,

for the lower highs, right? where will we go? where will the market hit resistance? >> we've got to go to rick santelli with the bond action and then back to you. 30 years off the board. >> this was not pretty! the markets trading 3.325. 3.32 basis points. it comes in at 3.355. so basically it tailed three basis points. that is huge. the bid to cover was light at 2.47. the only thing that was crease to the mark and were indirects at 40.2%. directs lie at 8.5%. dealers ended up with 51.3. it's a "d" on this auction. for the 29-year, 11 month, this is going to create anxiety about this $66 billion of supply. back to you. >> that's two d auctions in one

week, that's not pretty at all. we should note the market's come off its highs of the day. we're up 88 points now. bob, we interrupted you. but weigh in on all of this. >> the point i'm making about today, this is a bit of an important day. a trend reversal going on. in daze when the yen's been strong, and the yen's strong today, nikkei down 6% our markets stuuffer. today, yen strong, but stocks are up and bonds are holding up, notwithstanding the "d" rick gave for the 30-year. i think it's important. make it's the economic news. futures turn around about 8:30 eastern time with the retail sales number that came out and weekly jobless numbers came out better than expected. >> there's a terrible storm in the new york city area and it's interfering with our technical

capables. let's go to eamon javers. more trading ahead of the economic data. a case of a seven-second early pop in natural gas futures. in washington with the details. that's a huge gap. >> that's right, sue. this is getting to be a daily occurrence for us talking about mysterious market mysteries here. today's came in natural gatt futures. over at nanex, eric shares the chart. natural gas futures trading seven seconds ahead of the government's report. the department of energy puts out a report every thursday in which they announce how much natural gas is in storage, 10:30 in the morning. that red line down the middle of the chart is 10:30 in the morning. what you see is just before that, we see a huge spike-up in july and natural gas futures. that was trading this morning ahead of this government report. what we don't know is why that

happened. we've got a call in to the department of energy to ask them explain if they saw anything weird there. you see provided there was a surge in trading this morning. what that represents is about 17 million worth of futures contracts that changed hands in that seven-second period of time before the government number came out. we're going to try to look into why this happens. also spoke to sharon epperson who is cnbc's guru on this natural gas beat. >> right. >> it's possible the surge represented something in traders' minds they were relieved the number wasn't more bearish because there was an expectation that maybe there could be a bearish number today, but it came in line with expectation. maybe there was a relief rally. what's weird, what we don't know what happened, why that relief rally would have happened before 10:30. >> exactly. has the s.e.c. weighed in? are they looking at patterns?

>> i asked the s.e.c. -- we talked about this yesterday, a different case with the market statistics that's being sold -- the s.e.c. declined to comment. we had bart shillton on the air. he thinks that selling data early into the market is probably legal but he thinks in his opinion, it's unfair. in this case, this is government data and the government bends over backward to make sure there's no advance selling. i should point out, last year i did a story in which we revealed that the department of energy was fighting on a regular basis with high frequency and other trading firms which were banging on the department of energy's website so hard with their compute tords extras to extract. they've been trying to send those guys cease and desist letters to knock off banging on the website. the department of energy was concerned people were accessing the website in a way to slow

down web access for everybody else and extract the number for themselves. we've had no resolution of that. >> i'm sure it's still a deep concern. ty? >> vinvestors are giving the thumbs up to the gannett acquisition of belo. 27% right now on the day. newspaper giant proposes to pay 13.75 a share, a 28% premium to belo's closing price yesterday. the deal would almost double gannett's broadcasting assets. joining us is the ceo. thank you for coming. delighted to have you on "power lunch." i know ink is barely dry on this deal, but are you done? do you see yourself buying more broadcast properties? >> well, first of all, this united states a great transaction for the company today. we have an incredibly strong balance sheet a lot of financial

flexibility. this was a unique transaction, compelling transaction for us. if there are other opportunities out there, we'll be focused on those as well. >> that's about as good an answer as i could have ever expected. thank you very much for that. you're going to add 20 stations in lots of the major markets. any markets where your existing properties will overlap with the belo properties and what will you propose to do there? bring any regulatory trouble or not? >> we have five markets where we overlap. we are very comfortable that with the way that we are structuring the transaction that we through shared service arrangements that we will be able to operate or service all of the 20 belo markets. >> of course, many markets, nas new york, duopolies where companies own two stations and this would not be a problem in this case. what does this transaction say about the direction you want to take gannett?

>> you know, this is just another step in the transformation of gannett that we announced a year ago towards highly margined, higher growth businesses. we were very fortunate to be able to do, to take this big step today in one fell swoop and to combine two great media companies like belo and gannett broadcasting. >> let's talk a little bit about whether this is a big bet on local media. i understand that it is a big bet on broadcasting. but is this saying that you believe there is a lucrative future in local? >> we believe there's a very lucrative future in local. and we are the local media companw in the united states. serving over 110 local markets with this combination. so we see this as an opportunity to use all of the digital marketing services and other digital products we have and spread them across a much larger

portfolio of markets. >> martore, thank you very much. your stock is up. gannett's and so is belo's. >> thanks very much. >> as global markets slump, where are buying opportunities out there? we'll get four-star stock plays when we come back. a window into microsoft's future. complaints of the new addition of software, disappointing sales. what is the tech giant going to do about one of the corper stones of its business. we'll speak with one of the co-heads of microsoft's windows business about a new retail strategy for windows and microsoft products. in today's markets, a lot can happen in a second.

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shares of apple up a quarter of a percent. reuters reporting the company's exploring launching iphones with bigger screens as well as cheaper models and a range of colors as it battles samsung. samsung has overtaken apple in market share through the popularity of the bigger screened galaxy phones. in a move aimed at boosting sales of windows powered device, microsoft now going to create a store within a store at more than 600 best buy locations in the u.s. and canada. each one offering windows tablets, pcs, phones, xbox and tech support. here's jon fortt with the cfo

and cmo of microsoft's windows business. jon? >> thanks, just want to dive right in on the retail strategy here. you've already got more than 70 microsoft stores. you did pop-up stores last holiday season. this is a big investment, a, what ballpark is the cost of this that you're prepared to spend? and, b, does this change the microsoft retail strategy at all in terms of how many stores you're going to have? >> thanks, jon. thanks for having us on to talk about this partnership. the partnership we've had with best buy has been long and great. and this is an opportunity to expand that partnership. and to have both of us invest and letting customers get hand-on with the technology. so much innovation coming in the next self-months. we really wanted to be set up well to showcase the products for customers to get hand on, both for back-to-school and leading into holiday.

and as you noted, this will touch 600 stores across both the u.s. and canada. >> does this change retail strategy? are you still expanding as quickly with microsoft branded store or is this a shift off of that? >> here's how we see this, which is the best buy partnership, the reason we've always been investing with best buy and seen this as strategic, if you look the u.s. alone, 70% of americans are within ten minutes of a best buy. so you know as we introduce so much new technology, partner devices, new windows experiences, we want to make sure customers are hands-on. that's why it's important to have this best buy investment and partnership as well as microsoft stores. it doesn't change our investment there. but certainly makes sure that customers can see everything hands-on. we know that there's more innovation coming out than ever before. they need to get hands on with the devices and with the software.

that's what this partnership's about. >> let's talk about that. pc shipments down about 14% in q1. you've made adjustments with windows 8.1. what is going to be the sweet spot for the holiday season price wise? $500? is it lower with mini tablets? how important is it to get those particular units in front of consumers? please tell me what is the sweet spot that you're aiming for? >> that really is the magic and vision of windows 8, to scale from the smallest tablets on up to laptops, touch laptops and this all in one category. so that you know is what we're doing with windows 8. that's certainly what windows 8.1 advances. whether it's devices on shelf today or whether it's products that are coming to market for back-to-school and into holiday there's going to be tablets, two in one devices. and then touch laptops.

so so much innovation coming, regardless of what type of device a customer might want. >> a lot of,. >> customers to see, touch, and decide. >> a lot of competition you've got coming with new devices in the fall from apple, amazon and your partners have new devices as well. we've got to leave it there. we'll have a look at those stores. back to you. >> thank you. the dow moved back to its highs of the trading session. safeway up 8%, surging on heavy trading and heavy volume. the grosser's sellingite canadian operations for $5.7 billion. the largest grocery chain in alberta. safeway will use proceeds to pay down debt and buy back its stock. not a successful wall street debut for coty, down almost a full percent, after priced $17.50 in the middle of its

expected range. it raised about a billion dollars. the products include sally hansen nail polish and perfumed endorsed by beyonce and katy perry. a massive storm moving into the mid-atlantic states after causing power outages in the midwest. we're feeling effects here. more than two dozen tornado warnings issued. thunderstorms through northern illinois caused significant wind damage as well. play was suspended at u.s. open at marion golf club outside philadelphia less than two hours after the start of the first round. a flash flood watch issued for the state of pennsylvania through thursday night. ty? >> nasty weather moving through the eastern seconds of the country today. a developing story as well. explosion at chemical plant in southern louisiana 20 miles southeast of baton rouge. amateur video here. the fire broke out this morning at the williams company's

plants. it makes flammable gases that are the building blocks in the petrochemical industry. no word on how many, if any, individuals have been injured at that explosion down south of baton rouge. a major ruling by the highest court in the land saying human genes cannot be pat enned. sending shares of one biotech company flying high. [ male announcer ] i've seen incredible things.

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i'm hampton pearson in washington. welcome back to "power lunch." in a unanimous decision the supreme court justices say, naturally occurring human genes cannot be patented but synthetic genes can. it's a partial victory for the biotech industry. the case involved patents held by myriad for popular breast cancer and ovarian cancer testifies brought into the public eye by angelina jolie one of the patented genes at issue led to her decision to have a double mastectomy. speaking for the court majority, justice clarence thomas said a lower appeals court was wrong to find both isolated human dna and

synthetic dna were patent elability. a sweeping decision could have threatened millions of dollars in the industry. stock fallout because of the ruling. over to you. >> shares of myriad genetics moving higher after the ruling. the analyst telling me this somewhat good supreme court ruling combined with the position in the genetic diagnostic space can help the stock move higher. now since angelina jolie announced she had a double mastectomy because of what she found in her test, shares have gained 10%. myriad the best performing biotech stock. another story where greed got in the way of common sense in this week's "crime and puis punishment."

>> guy whose lied so many times and had so many tricks they conned a bank out of million of dollars. in the end they couldn't keep up with their own smoke and mirrors. >> reporter: you were lying for years, mr. watts. that's rodney watts and this is his partner in crime, courtney dupree. he's locked up at metropolitan detention center. time to fess up? the wharton grad, they pulled off a $21 million bank fraud scheme. >> to be clear, you are swapping out some of the complete [ bleep ]? >> reporter: dupree went to unc where he say his played basketball for the tar heels. he worked at lehman before starting his open company. his company sold off furniture and lighting. cnbc did some digging into his past. and found out he never played for the tar heels. one lie out of many to come.

soon after founding gdc he hired a friend, rodney watts, and made him gdc's cfo. the two hatched a plan to take gdc national. u.s. attorney -- >> he wanted to be the next warren buffett and in his mind he was well on his way to doing that. >> reporter: his plan was straight forward, lie about the assets to convince a bank to give then money. it worked. a $21 million line of credit, money dupree would use to grow his business. >> documents were gold plated. that was their world. none of it was true. >> reporter: we sat down with lynch's team and got an exclusive look at how the scheme worked. gdc claims $21 million in assets. in this note, gdc reveals it's worth a fraction, about $8.5 million. to keep it going, they lied about sales that didn't happen.

and changed old invoices to look like new. just by switching the dates. >> these two adults, you know, in a room, cutting and pasting dock mentes together like fourth graders at summer camp. >> reporter: the two couldn't keep up with all of the lies. they bounced a half million dollar collect. and that raised a red flag at the pabank. >> frank wrote a check, smoke and mirror blp been and it bounced. courtney had come up with a story. >> reporter: dupree sent this e-mail promising it would absolutely never happen again. the duo wanted another $5 million. so they went to c3 capital in missouri. >> cookbooks lying to the banks for years to grab money. c3 capital wanted more than documents. . insisted it keep with an actual customer. that's when dupree and watts took the scheme to a whole new

level. >> conned a guy who worked for them to be a customer, fitted him out with a phone, fake e-mail. >> reporter: they gave the guy from accounting a phony name, coached him on how to act but he panicked and went to authorities. at the fbi's request, he began recording the conversations. it's on these secret recordings where their true colors come out. >> i [ bleep ] a lot smarter than you and i've done this five years before you got here. >> reporter: what dupree got was seven years behind bars convict order conspiracy to commit bank fraud. the other wharton grad convicted of the same charges. anything to say to future school graduates who might follow in your footsteps? where's all of the money? most is gone. no surprise. the business wound up failing. and the bank is out more than $15 million of course we'll keep watching this one and keep you

posted n eed with any updates. >> to the gold market now. stocks move higher the gold market sold off. sharon epperson tracking action at nymex today. >> reporter: sue, gold prices are down about $14 now. right around $13.77. keep in mind, unable to get above the 1400 leveller to that mark today, 1394 was the high of the session. bear sentiment continues. traders waiting for that fomc meeting next week. looking elsewhere in the metals complex where palladium is the big of the decliner, down 3.5%, and a lost traders were expecting see more labor strife in south africa. that strike has been delayed and as a result, some have been liquidating. trading action on the floor of the nyse. bob pisani we saw a dip in the market after the bond, 30-year bond action but come back nicely. >> near the highs for the day. the overall trend is intact. trend reversal. days when the yen has been

stronger, and it's much stronger today -- take a look at the markets -- the dollar, weaker. our markets have generally been weaker. today, opposite. noti notice ten year is up and s&p 500 on the upside. dollar/yen, yen is strengthening. in terms of sectors moving publishing stocks on the upside. that's on the deal that we saw. look at moves up in meredith and journal and ew scripps, the supreme court ruling, naturally occurring genes cannot be patented. there is an exception built in. some gene stocks down on the news. there's some concern here that the naturally occurring genes might -- prohibition there might be influencing other stocks as well. bob mentioned the yen and interest rates. both of those fall under the mantel of rick santelli's watch. he's joining us from the cme.

>> reporter: thank you, sue. the operative word would be, melting. if you look at intraday of tens they spiked up a bit. some selling. but it's the last auction. melting into a range, so to speak. 30-year more exaggerated. yes, the supply's over. huddled down in a range. you want to keep a close eye on about 337, in the 30s, 2.25 in the tens. you can see it followed, it's hard to tell who's leading the dance but they're all correlating. back to you. >> mr. santelli reporting. new fears about housing foreclosures back on the rise and bank repossessions are soaring. we'll tell you why and what it means for home prices in the housing recovery after this break. (announcer) scottrade knows our clients trade

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pbh moving higher. the clothingmaker benefitting from increased sales for its tommy hilfigure brans.

elon losing ground. and blackberry moving higher after upgraded from buy to sell citing better than expected sales of its blackberry 10 smartphone. the best of the best are gathering at this year's morning star investment conference. jesper madison manages the asia dividend fund investing in asian dividend paying stocks with more than $5 billion in assets. an impressive return up 17%. over three years up 23%. and for five years, performance ranges number one among asia pacific funds returning 30% to investors. he co-manages the matthew china's fund. thanks for take time out to spend time with us. >> thank you for having me. >> i wanted to start with the nikkei and volatility that we've been seeing coming out of japan. i noticed that a couple of your

top picks are japanese stocks. are you worried about that? how are you hedging against that volatility? >> it's very interesting. over the last six months, all of a sudden everybody wants to talk about japan after not wanting to talk about it for years. you are correct, some of our top three holdings, all japanese, large caps. the reason we were there for years as a dividend seeking strategy has been because we have seen tremendous dividend growth out of japan, before this rally in equity markets. is there cause for concern? i think what shin zoe abe has been putting in place in japan is hugely important. it's different than what we've heard out of japan for decades. he's doing an all-out attack on the deflationary spiral that the country has seen plus i would say ongoing stagnation there. that obviously was something markets paid attention to. the 60% run-up in equities in

local currency terms before may 22nd as well as 20% depreciation in the yen. the marketplace thought this had true legs to run on. i don't think it's overly surprising especially combined with the volt tilt markets generally after the ben bernanke speak as well where there was some concerns about when qe would be withdrawn, to what extent, when that would happen. that created overall i would say uncertainty in the marketplace. that combined with a bit of a breather in the japanese equity space as well. that would explain the volatility we've seen. >> let me turn to china. you manage the china fund. the big question, what is the state of the chinese economy? how strong is it? what are the headwinds that it faces? >> yeah. so china has new leadership in place and it's one squarely focused on putting china on a

sustainable growth path, because there's an acknowledgement the past growth model is within that's sustainable going forward. it creates inequality, it creates investment that might not be given the proper returns as well as we've seen now also hefty debt load for many of the local governments in that country as well. so, it is one where the leadership's trying to take an economy on a slower growth path, one more sustainable, foe faux cussed more on the consumer, domestic consumer instead of exports as well as one more focused on the services-based industries. those are the areas within the equity space we tend to look at matthews more in depth as well. we welcome that. it will come with more volatility given the fact that the banking system there is not particularly strong at least behind the scenes. i do have my worries there. even though if you look at headline numbers, the financials

there, still looking strong. but we have seen a buildup of nonperforming loans and we have had a less regulated shadow banking system that's needed for the long term liberalization taking place in china. because the regulatory framework is not fully formed, it does create some potential for volatility in markets as well. >> something to watch, certainly. thank you very much. appreciate it. focusing domestically, what does the world's biggest bond fund think about our markets. pimco's ceo mohammed el-arien joins the fast money gang tonight. >> fascinating guy to hear from. housing on the mend. few fears about the recovery. the powerhouse. the top real estate markets in america today. close to home, new jersey, northern new jersey. sue's neighborhood. sort of mine. how much house your money buys you in the garden state.

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a fund manager says america's not the best place to invest. rather it is -- that's the tease. a guy says i'm going to take on apple and streaming music and i'm not afraid. why apple could be your next bank. why beer makes you smarter and credit cards make you fatter. if that doesn't make you stick around, i don't know what will. back to you. >> i have always lived by that rule, always lived by that rule. man's a human teleprompter. he doesn't need a teleprompter. i, on the other hand, do. housing data on foreclosures and inventory that will affect home prices. diana olick from washington. >> a sudden rise in bank repossessions the final stage of foreclosure when the bank takes back your home, has analysts pointing to rising home prices. this may be the leading edge of

a trend that puts those rising prices in reverse. >> you have an environment now with rising home prices in most markets that gives the banks more incentive to go ahead and foreclose on these homes because they know they can turn around, sell them quickly, and for a price that's higher than what they would have been able to sell for a year ago. >> overall foreclosure activity is down from a year ago, bank repossessions jumped 11% in april. 33 states saw the rise with some quite dramatic as you can see here, also foreclosure starts, that is the beginning of the process, also rose in may, month to month. and up from a year ago in 14 states, particularly states that either use a judge in the process or have new laws surrounding foreclosures like maryland, new jersey, and nevada. it also points to pipeline of distressed properties moving faster.

there are close to 3 million homes either in the foreclosure process or with seriously delinquent mortgages. and that means more homes will be coming on the market as supplies are already easing. that in turn means huge price spikes will surely moderate. plenty of more on this online. realtycheck.cnbc.com. check out the recovery map for data on local markets, tyler, including new jersey. >> thank you. >> market-to-market. >> market-to-market. powerhouse time. covering our home turf, bergen county, new jersey. i'm joined by a realtor with keller-williams. let's run through a couple of the statistics on the new jersey multiple listing service for bergen county, single family home. 1911 properties sold so far this year. that's 12% more than the same time last year. the median sales price $413,000. 6% up versus last year.

roughly, right? good. properties on the market for about three months plus, 100 days. you've got 3,085 places to choose from. michael, let's go to the first one. a starter home at 145 magnolia avenue in hillsdale, new jersey. 490, three beds, two baths, 1700 square feet. >> hills dale's a great town. balance of excellent schools and moderate prices. you can get into hills dale without spending a ton. this house was completely renovated inside and out by the builder. right from the hardwood floors to the plumbing to electrical ta-to-brand-new kitchen. the floor plan opened up. they've created more living space. it's a beauty. >> very nice place. that is really in this particular market, that's about a starter house. but three bedrooms, two baths and pretty nice. let's move to the second listing at 373 doneham place, 929, 5

beds, 2 1/2 baths. there you see it. >> glenn rock is on fire. our high school is now ranged fourth in the state. >> wow. >> inventory is below four months so it's favorering sellers. this home is in the gold coast second of glenn rock. >> remind where glenn rock is. >> next -- it's south of ridgewood. >> got it. >> that's nice. >> five-bedroom, 2 1/2 bath colonial on full half acre gorgeous flat property. the neighborhood is really premier. it's near the athletic fields. great location. great house. >> great location. golf courses around there. good shopping. good restaurants. now, frankly, the problem with new jersey is the taxes are high. on that house they were, what? 21 -- >> 22.

>> 22,000 a year. we'll step it up go to one of premier towns and that's ridgewood. 141 woodland. $1.695. a great town but look at taxes, 34 grand. >> this is in the height section of ridgewood one of the most desirable areas. and the house in ridgewood the classic colonial is king. this is a gorgeous center hall colonial completely renovated in 2006. 5,000 square feet of living space. high-end finishes. a brand-new large custom kitchen. >> man, ovens. look at all of that furniture. very nice. >> four full baths two half baths. >> we'll get you tea and lemon. how are you doing? >> all right. >> mike, thank you very inch. >> proosh you being with us. good luck. thank you for coming by and showing us powerhouses. >> thank you. coming up america's top states

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welcome back. steven spielberg and george lucas sounding the alarm for the movie business projecting tote. upheav upheaval. >> there's going to be eventually implosion for big meltdown. three or four or maybe even a half dozen of these megabudgeted movies are crashing into the ground and change the paradigm again. >> fewer theaters, bigger theaters, with a lot of nice things, going to the movies is going to cost you 50 bucks, maybe 100, maybe 150. >> like the way it costs broadway. >> like broadway or a football game. >> i think the lincolns are going away or be on television.

>> this close. >> but that's -- >> ask hbo. this close. >> they predicted paradigm shift towards the living room where all content will be available on demand. for more of the exclusive, go to mediamoney.cnbc.com. >> that had us in shock. 50 bucks to go to the movies. yikes. cnbc's america top states for business is seven years running. and the big reveal just around the corner. since the beginning, wisconsin has been slowly moving up the ranks. but can it keep momentum going given recent economic set backs? scott cohn has answers. >> i am getting ready to pack my bags, fire up the top state's jet for the seventh annual ranking. am i headed to wisconsin? not telling you yet. we can actually measure the impact of the politicians on both sides of the aisle who come to office prom it'sing they will be good for business.

>> reporter: every state battles other states for jobs. but in some states, more than others, they fight among themselves. take wisconsin. a battleground since the election of republican governor scott walker, the same year wisconsin finished 29th in our top state's rankings. >> wisconsin is open for business. >> reporter: despite sit-ins, fleeing senators and attempted recall, state made headway. here's walker in 2011. >> wisconsin has a $3.6 billion, with a "b," deficit. >> reporter: the state projects half a billion surplus. wisconsin finished 17th in our rankings last year. its best showing yet. can the badger state do better this year? it will be tough. unemployment is up, above 7%, to its highest level in a year and a half. and wisconsin's business costs are a mixed bag. >> one thing that has changed,

this holding the line on taxes. and that has a powerful impact for businesses you can hold the line on tacks, they won't be taxed at higher rates. the negative side is tax rates are still, when you compare it to other states, tax rates are relatively high. >> reporter: another blow. according to the legislative fiscal bureau the $500 million surplus might turn into $500 deficit in 2017 if the current proposed budget passes. >> but we look at a range of things beyond taxes. more than 50 metrics in 10 categories to come up with rankings. look at our preyear's studies and follow us was we count down america's top states for business 2013, topstat

topstates.cnbc.com. our seventh annual rankings come out in july. i'll be reporting live from -- >> from? >> got to wait for it. >> thanks, scott. a nice rally going on in some parts of the market. we'll check numbers in two minutes' time. i want to make things more secure. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick...

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welcome back to "power lunch." check out international paper. near highs of the session now. goldman upgreats i.p. to buy. 25% upside potential to price tar bet of 55 buck. the company will increase its return of cash to shareholders via dividends. suing back to you. >> thank you, josh. it's nice to be up here. >> you really exist. you're prettier in person. >> so are you. >> let's check the markets right now. we're up about 91 points on the dow jones industrial average. the s&p 500 is up almost 12. the nasdaq is up 22. one of the biggest stories of the week has been the fall of the dollar against the yen. so you see u.s. dollar versus yen, dollar down 1.25% alone

today. on the week down 2 2/3%. >> japanese markets in bear market territory from their peak, down 20% or thereabouts. that will do it for "power lunch." great to be with you. >> good to be with you. street signs begins right now. the papers are wrong, we are not turning japanese. american stocks holding strong as markets in japan tanked overnight. if the housing mortgage interest deduction goes away the housing market will go away with it. we've got a guest who says that's wrong. and cutting part of it may help housing. plus -- why drinking makes you smart and credit cars make you fat. ceo of a streaming music service says, bring it on, apple. he ain't afraid. bring