tv Markets Now FOX Business November 5, 2012 11:00am-1:00pm EST
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dagen and connell, it is yours. dagen: thank you, stuart. heavy travel for both the president and mitt romney. connell: no power means no baths. the commute in the northeast getting better this morning? they must brace for another storm. a nor'easter threatens the coast. connell: stocks now and every 15 minutes. nicole petallides watching apple for us this morning. nicole: a record launch for the apple ipad mini. either way, -- last week we were
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slightly to the downside. today, not too far off. however, there is certainly that wait and see attitude for two hours presidential election. dagen: old candidates making their final pushes today before before the polls open less than 24 hours from now. both candidates are in a virtual tie. in virginia, it gives the president a several point advantage. joining me now is an economic advisor to mitt romney. good to see you. can mitt romney potentially turn one of these states? what does he need to do?
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right now the electoral college map is not leaning in his favor. >> it all depends upon what pulls you look at. i am a businessman. i look out pulls like a look at business models. some of the polls, rasmussen, gallup, that do not allocate five parties, they just pull a large number of people. there was a poll in ohio that over pulled 9%. that same poll in virginia actually had mitt romney of 21%, but that obama above by 2%. the momentum is in mint romney's favor. the ground is in his favor. 93% of where we were in 2008. the momentum is clearly going in
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the governor's direction. i think these personal stops make a difference. dagen: you do not think that the fact of hurricane sandy moving in in the presidential election was not the focus of television news conference and you could not get away from advertisements. it was not above the fold on the front page of newspapers. how did that not hurt mr. romney? >> i think it slowed the momentum of the campaign. i do think that has picked back up. i think only history will see how sandy plays out. you do have the president acting like a president for a few days because that is his job. dow you have have some people resentful because they do not have the supplies they need. it discourages the vote if you have a lower turnout in those states, you have better results for governor romney.
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i am anxious to see how the story plays out historically. i think right now we still have romney ahead. i am very nervous about the potential if governor romney does not win. i do feel very good about his ability to pull this thing out. healthcare law. "wall street journal"'s story about low-wage employers shifting more to part-time workers from ull-time workers to avoid the penalty. you are mentioned in that very article that you started a couple months ago to hire part-time employees to replace full-time employees. if romney won, would you move in the other direction? >> absolutely. you take a full-time job break
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it in half you have to put part-time jobs. you will see that the bureau of labour statistics has wages and hours down even though there was some job creation. a lot of those were the part-time jobs. people prefer to have full-time jobs. employers prefer to get people full-time jobs because they are more loyal, they know their jobs are better, it is just better for the company. dagen: andy, good to see you. >> if governor romney is elected, we are going right back to full-time that way. dagen: thank you so much. be well, andy. let's hope we have an answer tomorrow night. connell: it could go into the next day or beyond that. let's get out to the campaign trail itself as both of these campaigns are making their final push. dagen: we will go to which fits
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in who is in madison, wisconsin. rich: he will do it with bruce springsteen. we are in madison, wisconsin. then the president heads to columbus, ohio and des moines, iowa. the president has been making the case talking about the auto bailout. especially in ohio. they say governor mitt romney would not save their jobs. president obama says he inherited one heck of a mess and he has been making progress and will continue to make progress. he has angled towards a number of independent voters. he is willing to work with republican if republicans are worth to compromise.
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>> when the other party has been willing to work with me, i have been right there with them. rich: look, we knew this would be a close race. feel good going into tomorrow. connell: thank you. now to the other big story. the effects of sandy. this week just getting to the gas pump is a hot topic. at least it is here in new york and new jersey. drivers try to fill up their tanks. some of these lines have eased up a bit today compared to what we saw over the weekend. but still, it is taking a while. 27% of gas stations in the new york metro area are without gas for sale. it is down from 38% on saturday. the progress already being made as of yesterday. we will see how much we make today.
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let's shift and look at the price of gasoline. the national average down $3.47. it was $3.80 just a month ago. in new jersey, the gas prices have climbed in the last week. those are the numbers this morning. dagen: it is heading in the right direction in terms of the ability to get gas. from gas shortages from power outages, residents continue to clean up the mess left by hurricane sandy. connell: let's go to long island now. it is obviously still a mess, as we can see. >> it absolutely is. good morning. residents are really still in the recovery stage. it is far too soon for rebuilding. they have no heat, drinking water, no power to charge their
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cell phones to get information. they are salvaging what they can, tossing the rest and trying to keep their spirits up. >> this was tough for long beach. no one has seen anything like this. this is a whole new level. i have seen people helping their neighbors left and right. we have the national guard patrolling. everyone feels safe. most people i have spoken to are coming back because they love this neighborhood. >> the federal government is here. the main concern for people is getting the power back on. we have a possible nor'easter coming. it is starting to get really cold. can you give us a timeline? >> no. there really is no timeline. we are working as hard as we can. it probably will not be back on by the time the nor'easter columns. >> that is so awful.
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anyway people can help, if you can give money to the red cross, anything can help. connell and dagen, back to you. dagen: one of the hardest hit areas. connell: if sandy was not enough, believe it or not, there is another storm on the horizon. dagen: plus, more from the campaign trail. former republican -- we will talk to both of them coming up. first, take a look at oil. eighty-five dollars a barrel. ♪
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a little bit of risk involved. your ad revenues are relatively flat. they got hit daytime because of japanese automakers stopping advertising in china. in the meantime, they have an online search engine that is rocking. initially the stock was indicating to be up three or four dollars. i like the risk award. it is one you want to chip away at. connell: so tomorrow we will talk a little bit about the election. charles: i will have romney and obama stocks. connell: perfect. election day with charles payne. charles: i want to go outside of the box. dagen: quarter past the hour. stocks now and every 15 minutes. what is going on with netflix
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wow. nicole: we started this story last week and continued to fall it. it is a tactic of companies to try takeovers. we heard karl icahn had accumulated a 10% stake. they are not the only company to be doing this. we heard oshkosh trucks did the same thing. it makes it a little more difficult for potential acquirers to step in and swoop off the company. dagen: the economy, election and what happened to your taxes at the end of the year. we will tell you all about it. connell: both parties are ready flooring up. taking court action and some of the stakes challenging any kind of funny business in the election tomorrow. we will talk to the judge.
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>> @21 minutes past the hour, i am lauren green with your fox news minute. a car bombing in syria today. state media says the bomber targeted -- an autopsy is set to take place on a boy that was killed after falling into an exhibit of wild dogs at the pittsburgh zoo yesterday. the boy's mother put him on top of the railing and was immediately attacked. at the east coast, the cleanup after hurricane sandy. parts of the region are bracing for a nor'easter. the storm could hit new york and new jersey area wednesday with rain, cold temperatures and wind gusts. those are your news headlines on the fox business network. i am lauren green. now back to connell.
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connell: launching an investigation into post- sandy price gouging. he says he received hundreds of consumer complaints. according to the attorney general this includes the price of gasoline, but also home repair companies that are involved in the repair efforts. dagen: there over 16 working days left for congress until the fiscal cliff hits. that is when tax cuts expire and speaker john boehner is kick in. expecting a temporary pass. former congressman, former house majority, joining us now from dallas. isn't that the way they do it in d.c. let's just do something on a temporary basis.
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should they try to shoot for something better? >> that would be very difficult. it is almost impossible to make a deal got a big deal, with a lame duck president who frankly was not even competent to make such a deal while he thought he had a future in the office. secondly, the one thing i think speaker boehner has his finger on is they probably cannot stop the sequestration on defense spending because after his disastrous debacle in libya, the president cannot afford to be seen in different to defense spending. about all they can hope to do is probably the late that head, for some type of deal, picked up and down the road and wait until after a new president is in fact sworn in. in order to get to the big copperheads if tax reform,
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spending reduction, spending reform package caught that will take a lot of time and a lot of creative work. [talking over each other] president obama, if he were to survive and when the reelection, it is my idea that he would be entitled to only what he wants which is an attitude you by large house anyway. he is not very good at looking at in considering another point of view. my own view is you would get the hardeniig of the attitudes on the part of the president. i won the election, i got a mandate, therefore, i am entitled to get what i want. we have to spend that money on building the government feared these are deals that this congress, the house will not go for depending on how the senate turns out.
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senate, by the way, generally just locks itself up and does not do much of anything either way. dagen: how long, though, until we get some real concrete idea of what our tax code will look like for years to come? what regulation will look like for years to come? by the way, the bush tax cuts, we do not have any way to pay for them in the long run. both sides are guilty of this style of doing things on a temporary basis. really want it for two years. when will we have some certainty. >> the bush tax cuts were designed to cut because of the ruler of the senate with respect to tax reduction that did not apply to tax increases. i think it will take a new president, a new congress, if we do not get a good republican
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majority in both the house and senate it and president romney, i do not think we will get much but a big continuation of this sort of squabbling over the smaller finer points because it just simply is not intellectually and emotionally and ideologically able to speak to each other on the bed matters. dagen: it was great to see you, as always. you be well. it will be a busy week. it will be a good one. connell: let's go to the other side of the aisle here. the battle for the state of new hampshire. mitt romney trying to turn not swing state into his direction in the next 24 hours. we will talk to new hampshire senator just ahead. dagen: some of today's winners on the s&p 500. check them out. ♪
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ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economis in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally.
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>> all of your money riding on tomorrow's vote, more on the battle ground states and what needs to be done to win them. and where the money is going on this election eve. the latest from the exchanges coming up. and both parties with lawyers in each state, ready to challenge the vote. judge andrew napolitano on what could end up happening on the steps of the the supreme court. he is fired up, brother, you won't want to miss a minute of what he has to say.
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and speaking of minutes, the bottom of the hour and reporting earnings today, nicole. >> let's take a look at tesla motors, obviously a car company that we follow closely and the stock is up 4%. if you read the new york post, last week, you saw them touting the model as the electric car as a top contender in the auto market. they did come in with a big quarterly loss and production, raised 200 cars per week, a production rate that they need to operate in a cash flow positive manner, as a result here, more model s production is good news for tesla, it's going to be a hot car to watch, it's all electric. this stock is winner. the broader market averages ahead of the elections and right now, the dow jones industrials are down six points and you can see the major market averages aren't moving much. and the wait and see pattern, right? and obama to the down side and
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hewlett packard a winner. connell: let's go back to the election and focus as we have been on the swing states. latest polls out of wmur, university of new hampshire, showing president obama over 5 points over governor mitt romney. and the former governor joins to us talk about her state and broader issues. before we do that, what's your level of confidence that the president wins in the swing state of new hampshire? >> listen, this is a very close election, we've known that throughout the whole campaign. the polls, the only poll that counts is the one on election day, we all know that so people are working very hard, trying to get, turn out for president obama. connell: right, turnout, turnout, turnout. if you try to use conventional wisdom to try to handicap the race, you say nationally it's as close as it possibly could be. maybe a tie. and we don't know who is going to win the popular vote.
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it seems if you just look the at the data, the averages and the president ends up in a slight advantage of the swing states and ohio he's up 2, 3, 4 points, whatever it might be. if he goes to ohio, with that said, as a democrat. >> what's your biggest concern going into tomorrow. what are you worried might go wrong? >> you said it, turnout, turnout, turn out. whoever comes out wins this election and that's democrats and hopefully the president wins. if republicans, in all likelihood, mitt romney wins. i think the good news here in new hampshire is that we have voters are very engaged. i talked to the secretary of state, phil gardner, friday, he told me we're expecting a record turnout. that's great news we want everybody to go out and vote in in election, i hope they'll vote for president obama, but it's important for everybody to vote. connell: let's fast forward to the senate, the house and the white house looks like after this election. we saw this fiscal cliff here at
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fox business we talk about it all the time that we're dealing with at the end of the year and the certainty or uncertainty that people have in making plans going forward. you know, if the president's reelected or mitt romney wins, where does that uncertainty go? i mean, how does it suddenly get solved? i know vice-president biden was talking about the fever breaking and all of a sudden we'll be able to make, get to some sort of an agreement. but are you confident? how do things suddenly get solved? what changes? >> well, i think it's in everybody's interest, certainly it's in the country's interest, it's in democrats and republicans interest to address the fiscal challenges that we're facing to voice the cuts, the automatic cuts in january. connell: it's always been in our interest? >> it has been, but hopefully once the election is over, people are going to roll up their sleeves and work together to get it done. it's got to be done together. one of the things that impressed me throughout this campaign is how much we hear from voters that they want us to work together in washington, to
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address this country's challenges, and so, i'm hopeful that regardless of who gets elected, and again, my candidate is barack obama. >> sure. >> but, that we can work together to address the very real issues that we face, and as you know, one of the things that would be very helpful is to end the uncertainty around our debt and deficits, so that business could invest again. that would be good to help create jobs to keep this economy moving. connell: slightly higher taxes though and slightly lower or maybe more than slightly on both counts in terms of what we get. it's, you know, benefits and entitlements, so, both sides have to give is that fair? what we're looking at early next year? >> i think that everybody has to compromise, and everybody needs to share in addressing this challenge. all right, senator, thank you very much. it's always good to have you on, don't forget, by the way, fox business election coverage tomorrow night, we're actually going to kick it off at five o'clock eastern time with a special time, special edition of
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"varney & company," followed by lou dobbs and neil cavuto with the coverage tomorrow night. >> the polls, we already know who is going to win this election and it's based on the record of the washington redskins. >> oh. dagen: i'm not making this up, the my home team, sort of. since the redskins began playing in washington d.c., the outcome of the home game before the presidential election has been an odd, but fairly decent indicator of who will win the presidency. the last nine times the redskins won, the incumbent party won the election, out of the last nine times, the skins lost at home, eight times, the incumbent lost. that's nearly a 95% accuracy rate. yesterday, the redskins lost to the carolina panthers so the winner of the election would be, if you believe this. connell: i see. dagen: mitt romney. connell: why hold the election at this point you've got that figured out. dagen: now what this is? i mean, you know what? we live in a world of hurt if
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you're a redskins fan. so any way to create some upside from the redskins sucking. connell: i'm a jets fan, we feel your pain, absolutely. redskins-- >> i'm living in a world of hurt. connell: and coming up, harry reid, his home state still up in the air in nevada. we are going to have live reports from vegas what the election talk is out there today. are people feeling a little scared today? not so much, but the yield on the 10-year is down. 1.68% for a 10-year yield. [ male announcer ] this is joe woods' first day of work.
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>> i'm lori rothman with your fox business brief. the service sector grew pat a slightly slower than expected pace. because of the institute of supply management index of manufacturing activity. down from a six month high in september. brazilian sugar manufacturer will take over u.s. based eco energy, making it the world's largest ethanol maker. and the companies together will produce 10 billion liters a year, having. samsung sold more than 30 million of the galaxy s 3 smart phones, making it one of the fastest selling smart phones in the world. the demand for the smart phones resulted in record profits for
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>> all right. another swing state despite unemployment. 11.8%, the highest foreclosure rate in the notion and nevada still is a major swing state this election. >> and who do we find in las vegas? adam shapiro with a look at what local business leaders are saying about tomorrow. adam? >> and it is about employment here in las vegas, clark county, which usa today just talked about the fact that if mitt romney wins clark county, he could win nevada, but to talk about unemployment and how that's playing into the resurgence of las vegas, we're joined by the ceo of angel management group and they run some of the nightclubs here, the industry, the top eight revenue grossing nightclubs is here in las vegas and he's going to talk
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to us about this. you're about to expand, 100 million dollar expansion and have things recovered that well here? >> we believe that the market has regenerated since 2007. and really, our audience continues to grow and visitation has changed primarily from a gaming market to more of a crossover food and beverage and gain in hospitality. it's good times for las vegas as far as we're concerned, yes. >> when we talk about las vegas, most of us think about gaming and resorts, but we were just discussing that the demographic seems to be catering to the 20-somethings and-- and prince harry here in fact at one of your clubs when it went republic. but the nightclubs generate up to 20 million dollars, an astronomical figure. >> it is, but what las vegas has gone, service several demographics of people whether you're 21 years of age there's a market or over40 years of age take care of you.
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>> why is angel management committed to 100 million in expansion and describe some partnerships you've announced. >> we've announced a partnership with over 300 jobs in a property and we believe it will redefine the experience in las vegas and set a new benchmark which will hopefully increase investment from our-- from the other operators. >> with the employment picture here, employment pretty high at least to the nation, do you think that clark county is up for grabs in this election or pretty solidly already decided? >> well, i think it's definitely up for grabs. i think that, you know, this market really, we can tell from the visitation, that we've had that it is a big deal, to win clark county. so, i think it's very much 50/50 near, what it seems to say. >> when you talk about the nightclubs, has anyone done a metric how many people are employed simply by the nightclubs and restaurant industry? >> i'm sure they'll have the
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actual facts in the employment bureau, but several thousand people, for example, our company employs over 2000 people here in this market and we've grown that from a team of 16 people over the past eight years. >> what was it that the restaurant and nightclub industry did to get through the recession? because i know the casinos and the hotels had a very difficult time of it. >> i think that what happened with the loan of the room rates, it made it very accessible to a different audience to come here and i think that people came and realized this market was an excellent market for this entire weekends you said. 8 out of the 10 are near and experienced them all. >> i'm going to put you on the spot though you don't have to answer, any predictions, will president obama be reelected or mitt romney, as far as the voters in nevada are concerned? >> i would like to say stay neutral and can't put me on the spot. it's a 50-50 call and i don't know who is going to win.
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>> neil mo, thank you. and still a problem the housing market here and we'll speak about whether that's going to play into the election as well. >> and our tour of the states continues with adam shapiro in nevada. thank you, adam. dagen: we take you back to the corner of wall and broad. nicole is looking at a big loser. >> number two loser on the s&p 500 right now, actually looking at time warner cable in particular. and they reported a quarterly profit that met, as far as the subscribers they lost, 140,000 subscribers, over the last third quarter, and that was worse than what was expected. how about what they added? well, they did add. they added 85,000 internet customers and you know what, that was less than expected, so they seem to underdeliver according to analysts, they weren't pleased with this report at all.
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but the one saving grace was this election and they actually said advertising revenue rose 22% and of course, they're carrying ohio over there and they're selling ad space like gang busters according to insiders, and even selling some of the ad space, and time warner, and selling that, too, that's a little glimpse of hope for time warner, but the truth is they underdelivered according to analysts and the major market averages and dow jones industrials, down about 13 points right now as we lead into tomorrow's big day. back to you. >> all right, nicole. >> problems already with early voting in florida. because of, yes, lawsuits. judge andrew napolitano is standing by with all the legal challenges that we will surely see after this election. connell: here come the lawyers again, and now the markets down, before we get to the judge, take a look at winners today, on this day before the election over at the nasdaq. everyone has goals.
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>> all right. back on markets now. not again, florida. the lawyers are back in the state, believe it or not. as yesterday, a judge ordered an early voting site at central florida as the state opened for a few extra hours after a suspicious package that shut it down most of the afternoon on saturday.
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>> how busy will all of these lawyers be, this election season. let's ask the fox judicial-- judge napolitano. good morning. dagen: this was a fly by the seat of your pants operation by 2000 and now it's a cottage industry. >> before 2000 there were few election laws specialist among practicing lawyers, there were among academics and professors. prior to 2000 if you had a legal dispute you grabbed whatever lawyer was working for your campaign. since then, there are hundreds and lawyers are who now experts in election law. remember, election law is 51 different sets of laws and the the 50 states and the district of columbia. this looks like like a national election, like a beauty contest, a popularity contest, it's not. it's 51 separate elections for electors to cast electoral votes in december. connell: what about the case in florida and the the merits of it
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in the early voting hours. >> the judge did the right thing. if you have people in line and can't get in until the voting booth closes, that's not their fault. the standard procedure cut off the line at the time the voting facility closes and everyone who is in line vote. to extend that on a saturday evening even though by my background, in new jersey, i voted saturday evening, saturday evening would be odd. but people standing on line to vote is not only the right thing do, extending before election day is acceptable. what's not acceptable. extending hours beyond tuesday, november 6th because the presidency is-- voting for the presidency is regulated by federal law, that cannot be changed by state judges or he election officials or even by federal judges. it can only be changed by the congress or amendment to the
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constitution. there's no time for that now. >> and how are the the republicans and the democrats, how are their strategies falling into line? what does the democrat attorneys who are democrats looking, going after, the republicans? >> the democrats are prepared to challenge the discretion by state and local election officials when they allow people to vote at odd hours, like on tuesday, or when they allow people to vote who the republicans will say are not, are not validly registered voters. republicans on the other hand will challenge people who they think shouldn't be voting. so they're both pretty much challenging the same things. democrats that's staying the same we are now. no one could have predicted hanging chads and dimpled chads in november of 2000. so something may develop
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tonight, but all the experts in the lands may not have thought of since this morning. connell: on a plane from one election to another. we woke up to two elections and we woke up and weren't sure who exactly won. 2000 went on and on and 2004, we weren't exactly sure. do you feel the same way this time around? because that leads, if it's that close, to the potential legal challenges. >> if the election is over by midnight or by 11:30 tuesday night and it's clear who won, you won't see all of this litigation. if it's unclear who won, if ohio could go either way, if florida could go either way, then you'll probably see this litigation. and it's very unusual for the decision making process to be taken away from voters into the hands of black-robed, life tenured judges, my form buddies. connell: and by the way, do you see anything in ohio or. >> i don't see anything on the horizon, but connell, having lived through this here in 2000,
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none of us could have predicted florida in 2000 and all the stuff with the chads. so, i can give you a better answer on wednesday morning. connell: be here. dagen: will it be less messy though? because at least lawyers on both sides stand at the ready. >> yes, i will tell you that everybody is better prepared. republican lawyers and democratic lawyers in all major states are prepared for almost anything. aen they are well-versed in election law and in the florida 2000, election law was not only new to those following it on television and new to those arguing the case, never happened before. connell: we'll see you tomorrow night or wednesday. >> whatever the outcome. connell: we'll have you on either way. thank you, judge. dagen: thank you, judge. your portfolio and your 401(k) riding on the results of what happens tomorrow. connell: coming up here our own stuart varney, he's been talking about a romney bounce for stocks. well, stuart is coming on and then there's charlie gasparino, he says wall street executives
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predicting a big win, the electoral college for the president. they're both ahead. cheryl casone and ddnnis kneale continuing our coverage on the markets now. don't go away. i'm a conservative investor. i invest in what i know. i turned 65 last week. i'm getting married. planni a life. therare risks, sure. but, there'no reward without it. i want to be prepared for the long haul. i see a world bursting with opportunities. india, china, brazil, ishares, small-caps, large-caps, ishares. industrials. low cost. every dollar counts. ishares. income. dividends. bonds. i like bonds. ishares. commodities. diversication. choices. my own ideas. ishares. i want to use the same stuff the big guys use. ishares. 9 out of 10 large, professional investors choose ishares for their etfs. introducing the ishares core, etfs for the heart of your portfolio. taefficient and low cost building blocks to help you keep more of what you earn. call your visor. visit ishares.com.
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dennis: i am dennis kneale. cheryl: hello, everybody. i am cheryl casone. polls showing a dead heat between the candidates. a look at where stocks will go the president obama is elected or if challenger mitt romney wins. dennis: we look at when the northeast gas shortage will end. what can be done to prevent it from reoccurring. cheryl: in the wake of superstore sandy's devastation, a new problem. this is an hour you cannot afford to miss, everybody.
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dennis: top of the hour. stocks now as we do every 15 minutes. one day away from the election. the markets are looking timid. nicole: if they are not talking about hurricane sandy's, they are looking forward to tomorrow's election. something they have been looking forward to for some time. let's take a look at the dow, nasdaq and s&p. they have been pretty close to the unchanged line. the s&p and dow not too far off from the unchanged line. some names showing promise. hewlett-packard, chevron, pfizer and caterpillar. you talk about energy. we talk a lot about entergy.
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they came out with a quarterly profit of 46%. that was off. that was weaker demand. that is why you are seeing the down arrow there. cheryl: thank you very much. we will see you 40 minutes from now. the election may be just one day away. dan mcmahon, director of equity trading joining me now. dan, you are not buying this rucksack. >> i think it will remove a little bit of uncertainty. markets do not like uncertainty. >> i think that will be the case if mitt romney actually wins. the market will view that as a business friendly market. the fiscal cliff will be the next issue investors are faced with.
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on balance, i think that is the way the market will toot. in terms of other net romney -- mitt romney will be better for business, better for the market. we still have the same congress. dennis: in terms of getting programs in place and getting his footing. it is a new job for him. there is going to be that leg and see how far he can carry his bipartisan program. we have not gotten to see a lot of details about what the exact plan is. cheryl: mark, what are you hearing amongst your colleagues?
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we are looking at different polls all over the place. some polls say the president is up by five points. others say mitt romney is up by five points. >> i think the suspicion is largely that president obama will nudge ahead at the end. simply because it appears that most polls do suggest that president obama may have a slight edge. with that said, obviously, i think there is a little nervousness of that coming through. at the same time, there is enough evidence suggesting it is close enough that the market is willing to get ahead of itself by not going one way or another. cheryl: dan, investors are nervous. that makes sense if you look at the volume we are looking at today. no one wants to make a big move until we get a decision. >> anemic move.
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you are coming into the fourth quarter, if you will, of third-quarter earnings. headwinds greeted by earnings and return to fundamental analysis associated with it have kind of way and a little bit. it is kind of hurry up and wait. cheryl: earnings report and while you look at the s&p 500, 70% of companies already reported. 40% of the companies the revenue estimates. do you think there is a tie here? revenue is just not performing like it should be? >> i really do. 40% on the revenue side. that is below the average of 56% of the last four quarters. i think it is playing into the fact that we see ceos deferring business and hiring in anticipation of unfortunately that the numbers level of uncertainty that remains out there of what 2013 will look
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like. either way, i think that is what is wayne on business activity. obviously, as we move to and past uncertainty, you will see an uptick. i think it can be a positive surprise for 2013. cheryl: thank you very much, gentlemen. >> thank you. dennis: the gas lines go on for miles. customers waiting hours to fill up. as we reported last hour, the new york attorney general launching a probe into price gouging. joining me now stephen schork. thank you for being with us. do you have any idea how about the supposed it gouging was? >> i have to tell you, i am
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skeptical with regards to the aspect of gouging. the deal we always tend to bring these cases because it makes a lot of headlines and makes it sound like the government is actually doing something. we have a market, we do not have gas. prices will react to the lack of supply. this is a short-term phenomenon did prices are higher. what you expect prices to do? dennis: at what point does it qualify as a couch? >> anything that is deemed above and beyond the historical market trend. we have a market area here in the northeast where we have a low capacity. we already have a local ability
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to replenish supply. essentially, there is really no level to determine what is a couch when you simply have less of a supply in the market. dennis: if a gas station can get customers willing to pay that much per gallon, should they be allowed to do that? >> -- we have to appreciate that this is a short-term phenomenon. there are avenues in place right now, for instance, rescinded the jones act. we have greater access to barges and thinkers. what we are seeing now is if you
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need gas, this is the market right now. it is extremely unfortunate of a situation. it will be a very short-lived phenomenon. dennis: i did not realize we were lifting the cost of gas. i hope they keep the law of the books. thank you for being with us, stephen schork. cheryl: coming up next, everybody, republican senator has been campaigning all we can for mitt romney. she joins us next. dennis: our final debate this. which candidate can better deal with the fiscal cliff? cheryl: then, no one and only stuart varney on his take of a romney valley. dennis: as we do every day at this time from a let's take a look at oil. ♪
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>> we have run into a situation where compromise is not part of what we do anymore. >> it is not easy to reach an agreement when you have different views of where the country should go. cheryl: what did you make of the report last night? >> i thought it was, of course, very interesting. people are concerned about the gridlock. i have been campaigning around the state. people are concerned that we are not able to come together and move forward. i think after this election there will be more resolved. the people will have spoken. if they elect democrats, we will work. if they elect republicans, we will have more of our way. cheryl: what do you think is the real problem? you are leaving. in retrospect, what are some
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real problems. why can't they get anything done? >> there has been a focus on the politics and getting advantages. after the election, i think that will go away. we do have fundamental differences on the direction of our country. i think republicans, and certainly that romney, are more concerned about this fiscal cliff, the overspending, the deficits that have gone up a trillion dollars every year in the last four years. we cannot sustain that. it is something we have to change. we have to come together to do it. cheryl: you were out over the weekend. i'll campaigning for mitt romney. you are in ohio and nevada. >> america can do better. we do not have to say that 8%
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unemployment is okay. what will make the difference in fact it will be small business hiring people. we have to get rid of obamacare. we have to take the regulatory harassment off the small business people of this country. i talked to so many of them this weekend. business people are pumped up and ready for a change. they want to hire people, but they will not if they see the fines and taxes of obamacare, if they see the harassment of our regulatory these. it is like the regulatory agencies in this administration are antibusiness. who do they think will make this economy go up but small business hiring people. that is the message. i hope people think about whether we need no change at all business as usual or is this the time to change the course of
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this country. cheryl: senator kay bailey hutchison, it was great to have you on today. thank you. >> thank you, cheryl. dennis: stocks now and every 15 minutes. nicole: we have breaking news. news corporation in part owns hulu. some content will begin to appear on hulu plus. this will begin in january of 2013. cbs is saying that the deals terms were not disclosed. the agreement between the two companies for library content on the hulu plus subscription service. we did time warner in the last hour and they talk about increased competition. this would be exactly what they are alluding to. take a look at the market
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averages. the dow is down about ten points. the tech heavy nasdaq composite still squeezing out some games. cheryl: on really low volume. anemic i think was the word from earlier. dennis: let's make some money with charles payne. charles: you remember the hot acronym from about ten years ago. it still exists. wall street has a love-hate relationship. it executes with 42% short position. davey the street bike 76%. the stock still struggles. the street raises estimates. i like it a lot.
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i really like it a lot. i think it will start to move up. looking for a major breakout with a move through 39. anyone who likes it a lot because it is volatile, maybe a stop loss at 34. [talking over each other] charles: everyone needs a cloud. samsung, apple, whatever, we all know we will have more loud devices. dennis: betting the company will tumble. what do they not like about it? charles: the average speed is going down. that is a negative. it will be expensive to continue their network. those are really negative for the company. i have to tell you something, i hate that they can go hog wild on these companies. cheryl: charles payne, thank you very much.
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dennis: as if things were not bad enough on the east coast, a nor'easter heading right towards the hard-hit area. we will be live in the fox weather center. cheryl: did you see who rang the opening bell. yes. that is charlie gasparino. dennis: let's take a look at the world currencies. the dollar is stronger. ♪
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girl: don't look at me. second girl: your hair's a bit frizzy today. aw! ha ha! you should pick that up. announcer: every day, kids witness bullying. poor you. ha ha! they want to help but don't know how. teach your kids how to be more than a bystander. visit stopbullying.gov. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand,
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>> at 23 minutes past the hour i am lauren green with your fox news minute. the northeast area is devastated by sandy. preparing for round two. another coastal storm that could hit wednesday into thursday. every pro-government -- according to activists the attack was carried out by an al qaeda inspired islamic militant group. the bomber targeted a rural development.
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the first person to ever climbed the 103 floors of chicago's willis tower wearing a prosthetic limb. he lost his right leg in a motorcycle accident. i am lauren green. back to cheryl. cheryl: thank you very much. he rang the opening bell at the nyse this morning. charlie gasparino is live from the exchange. how was it this morning, charlie charlie: it was a thrill. i have witnessed it many times. it was an amazing -- it is why the new york stock exchange is the new york stock exchange. i do not think you could replicate it anywhere else. he is a pro. that is all that matters. let's get to the story, which i think is pretty big.
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the election. everyone is talking about a tight election. everyone is making wagers. i am talking to wall street executives. ceos and people write under the ceo. here is the unanimity that you hear. president obama will be reelected did why did these guys know what they are talking about? people in washington to lobby us, they care about who is going to win the presidency just as much as anyone else. they are all huge supporters of that romney. they are not saying this because i want president obama to be reelected. everything they are hearing is the likelihood of an obama reelection is, you know, as far as a concern, it is almost a
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certainty. let's throw some caveats out there. all these wall street executives are in new york and california. in some ways, they are captives of the east coast, west coast and you have to say it, left leaning media. they really did not think romney made his case soon enough. the president looked very good. they are putting all that together. if the president is not reelected -- they have connections with david axelrod. he is the president's adviser. he is saying it is 100% fake
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den. that type of language, 100% getting baked in. that is what you are hearing. according to wall street, it is done. cheryl: we are looking at the polls here, charlie. you have obama up five points here, romney up five points here. it will be interesting to see. charlie: i am giving you a viewpoint from one corner in the world. cheryl: congratulations on ringing the bell. charlie gasparino, we will see you very soon. charlie, thank you. dennis: forget the polls, we already know who will win the election. it is based on the redskins rule. the outcome of the nfl final season home game has been an indicator of who will win that
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election. the last time the redskins one, the incumbent won the election. yesterday's game, the skins loss to the panthers. the winner of the election is clear, that romney. cheryl: this is the worst economy in decades. that it is even a tossup is that the republicans did not put up a we're on the road next with the candidates, aren't we, cheryl? cheryl: we are. fox business is preparing for the big night, and up next, we're going to be, as dennis said, candidates everywhere, people everywhere. there they are. rich edson in wisconsin with the president. rich is live in virginia with romney, excuse me, barntion is in virginia. we have people everywhere.
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of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance coany. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could save you thousands in out-of-pocket costs. to me, relationships matter. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now and request this free decision guide to help you better understand medicare... and which aarp medicare supplement plan might be best for you. there's a wide range to choose from. we love to travel -- and there's so much more to see. so we found a plan that can travel with us.
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anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you thousands a year in out-of-pocket costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have lifetime of experience. so i know how important that is. cheryl: breaking news in fox business. con edison now warning of more power outages from the upcoming nor'easter. now, you remember, a lot of people in the area don't have power thanks to super storm
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sandy. almost a million people in new jersey without power, and now there's a nor'easter on the way for the east coast again, for the area, and con ed saying there may be more power outages. the grids, and stations, dennis, not able to get up and running from the water damage. dennis: people are prepared from sandy, so they will be for this one. nicole, transocean reporting? >> that's right. looking at transocean, good news for transocean offshore. the name had a higher than expected profit for the third quarter, making more efficient use of the rigs, and they have oil drilling, the world's largest offshore drilling fleet. it's based in switzerland, but i can tell you that in there, in their group overall, the group has been doing well, also, for example, a rival of theirs posted stronger than expected profits last week, and other names were diamond offshore
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normal, steadily rising demand for deep water rigs before that. the whole group here has been forecasting and producing somed good numbers. look at the major averages, how we are fairing here, the state before the presidential election, the dow down 23 points, and the nasdaq turned into the red, and s&p lower as well. certainly, very much a wait and see. there's a lot of story stocks following closely, but the markets are waiting tomorrow. thank you. dennis: thank you, nicole. latest poll show a dead heat, candidates on the road pushing for last minute swing votes there in the swing states, and team coverage. rich edson with the president in wisconsin, and we begin with peter barnes in virginia with mitt romney. peter? [cheers and applause] >> well, hey, dennis, governor romney just took the stage here in virginia as he barn storms through four key battleground states today to make closing arguments as last minute polls show the race tightening.
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started in florida this morning, shoring up a small lead there. on the offensive in virginia where the race is very close, and he's here for two events, and then he goes to northern virginia, and then he goes back to ohio one more time, well, maybe more than one more time, tell you about that in a sec, and finished tonight with a rally in new hampshire. why don't we dip into the remarks for just a few seconds. >> we ask that you stay at this all the way to the victory until tuesday night. [cheerssand applause] tomorrow, we begin a new tomorrow. perhaps some of your family and friends have not made up their mind who to vote for so ask them to look beyond the speeches, the ads, and all the attacks because talk is cheap. ask them to look at the record, a record is real.
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>> that's what he's trying to do, reach undecided voters here. there's not many of them left according to the national polls, and not many left in the key swing states, and to get back to ohio, there is talk in the romney campaign about getting governor romney out to ohio to campaign tomorrow on election day. dennis and cheryl? cheryl: peter, thank you very much. now to rich edson on the campaign trail with president obama, and they are both in wisconsin right now. rich? >> well, we talked to the obama campaign about the possible romney trip tomorrow. they said they have a lead in ohioing and that's been the case across a number of battle ground states. president obama wrapping up here in madson, wisconsin. after that, he heads with bruce springsteen who was here, the boss, air force 1, going to ohio, des moines, and then to chicago to watch the returns
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tomorrow. for the president, it's a closing argument with a few mor hours left in the campaign, and for the president, also, an economic argument. >> that free market, the greatest engyp of prosperity and growth the world's ever nope, but we also believe that in this country, like no other, our market works, system works, only when everybody's got a shot, when everybody's participating. >> president argued of two previous administrations saying we tried eight years of clinton economics worked, but bush economics did not. that's the case why she should - he should be elected. there's leads in the battle ground states. back to you. dennis: thank you, rich. time for the final "debate this" segment. congress has 16 working days to
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fix the tax increases, the automatic spending cuttings taking effect january 1st, and here to debate this is ike, the american acting forum, and michael lip don, center of american progress. you're on the left side of the debate. start with the scenario. obama wins re-election, republicans retain the house, democrats in the senate. is chance republicans are in such a snitch they let the fiscal cliff occur and don't agree to kick the can down the road? >> it's possible. this is 5 house g.o.p. showing willingness to hold the economy hostage to their particular whims. i hope in that scenario you outlined they say, okay, look, we had an election, the president won, give up this stand and come to a negotiation to avoid the cliff. dennis: ice, what do you think? will they work out a compromise? >> i think they are willing to
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compromise, but want the other side to give something as well. what concerns republicans is that increasing taxes on people making over 250,000 affect small businesses. michael will sniff at that. >> i will. it's not really small businesses. >> over 25 million people work for small businesses whose business owners file as c-sporptions. a lot of people will have their jobs on the line here. dennis: you cite the bush tax cuts going towards helping solve that fiscal crisis, and all of that debt, but the bush tax cuts on the rich cost $80 billion a year, and president obama overspent the budget 1.1 trillion a year. how can 80 billion reduce that? >> the president's not overspending. that's the deficit and difference between revenue and spending. dennis: that's over spending. >> no, no, revenue has gone down in the recession, and because of, yes, you guessed it, the bush tax cuts.
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we don't have a spending problem. we have a spending problem in the long run, we are revenue levels below where they could be or should be. dennis, don't do this. dennis: i'm talking to ike. go ahead, ike. >> set him straight. >> i'm with mike on this. if we increase the tax rates, it's going to generate revenue, but what the democrats are planning right now is to fall back on the pelosi reid plan to increase the top rate on people making over a million dollars a year. that might sound fine, but that raises just $19 or $20 billion. the biggest problem is we have an entitlement program. it's not five to ten years down the road. social security is running a deficit. medicare is going to run a deficit. this president has not been all interested in fixing it, but all about demagoguing this for the
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last campaign. dennis: michael, parties warning aboutth terrible cults in defense, ect., but with that huge amount of spending, can't we cut it some without hurting it? >> i think that we could actually cut back in defense, but don't forget, we have. we put in place $1.2 # trillion in spending cuts, $300 or $4 # 00 billion from defense. the other portion is from non-defense. we have cut defense a little bit already. maybe we could find some more savings, but these automatic across the board cuts are a bad way to do it. both sides agree on that. dennis: ike and mike, we appreciate you being here. >> thank you. cheryl: okay. we talked about this in the show, a romney stock rally. stuart barney makes the case coming up next. dennis: highest foreclosure rates in the country makes nevada a battleground state. we are live from there in
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japanese brands suffered due to a political dispute. ford had a 48% increase year on year in october. gm posted a spike of 14% year over year in the same period. goldman sachs cut the number of employees listed as partner. according to an fcc filing, there's 407 partners, down 31 since february. the coveted one with a compensation package with it. mixed markets ahead of tomorrow's election. dow is down currently 29 points. that's the latest from the fox business network, giving you the power to prosper. ♪ they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people
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who are paid on salary, not commission. they'll get straightforward guidance and able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. at legalzoom, we've created a better place to turn for your legal matters. maybe you want to incorporate a business you'd like to start. or protect your family with a will or living trust. legalzoom makes it easy withtep-by-step help when completing your personalized document -- or you can even access an attorney to guide you along. with an "a"ating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, aegal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. cheryl: quarter til now, and stocks every 15 minutes. waiting to see with volume. what are you looking at? >> apple in particular, moving
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back and forth in the green now, down fractionally, but apple stock is something we continue to watch, waiting, of course, for the ipad mini, well, it's out, it's here. stock moving higher today; however, it's nowhere near the $700 mark accomplished back in the middle of september selling 3 million ipads over the weekend, but they have not broke it down which were the mini, ect.. we don't know the break down. you had the ceo, tim cook, noting it was a record launch for the ipad mini and it's tough to meet demands. they have to ramp up the supply. supply and demand thing. back it you. dennis: thank you very much, nicole. too close to call, but if mitt romney tomorrow, would the markets rally dig -- big time? >> mitt romney wins, a significant victory, if that happens, i think the market will
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rally significantly by this time next year or the summer of next year. my reasoning is that romney's platform on the economy is tax reform, lower rates for individuals and corporations, fewer loopholes, liberates, giving competence to enterprise to expand, invest, and limits private enterprise cash. the economy expands at a 4% or 5% rate next year. the market anticipates that and goes up. cheryl: the president is just a piece of the puzzle. looking ahead to the fiscal cliff, that's not pretty much in the hand of any president. that is the senate. that is congress. they can't agree, and they have no problem, it seems, any of them, taking us over the cliff. what's that do? >> if mitt romney wins a significant victory between three and five points, that's a big win. that carries through the senate, not to give control to the republicans, but sending a message this guy won with this policy in mind, now you get out
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of the way. we're going to have tax increases and not see cuts across the board in spending. it's not going to happen. get with it, senate, go forward, expand the economy. they can steam roller the senate in there's a significant republican victory in the white house. den depp i'm rather shocked that the election is too close to call that president obama presided over the economic disaster, economy's never been in worst shape, never re-elected a president when employment was above 7%. if it's 7.8% now, why? >> when america goes to the polls tom, the question has to be asked, what have we got for the extra $5.5 trillion in debt? 7.9% unemployment, an economy growing at 2% a year. that's it. that's not good enough. i think america votes on its wallet, and i think that is reflected in the final tally tomorrow evening or early wednesday morning. i think the polls have got two things wrong. one thing in particular.
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the intensity of republicans desire to vote for change and growth. every republican i know is intense on that subject. they will vote. there is not the same intensity on the obama side. cheryl: at the same time, though -- >> i'm not sure that's reflected in the polls, not entirely. cheryl: at the same time, stuart, we had charlie on, and he said the ceos and the wall street executives he talked to, sources say they are betting on the obama victory. they think it's done. >> i have no idea what wall vote executives think or say. i don't know. charlie's talked to some of them, okay, fine. i disagree with that. i don't know why they are soling that obama's getting a major victory. i see it differently. case closed. cheryl: thank you very much. great to have you on. >> you're welcome. cheryl: you can call me casone. join stuart tomorrow night, 5 p.m. eastern time for a special
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varney and company, followed by a special edition of "lou dobbs tonight," and the election coverage by neil cavuto begins. dennis: a high rate of foreclosures pushing harry reid's state to the brink in the election. adam schapiro live in vegas with all bets on the table about the election. cheryl: i knew there was a gambling reference in there somewhere. here's the nasdaq. we'll be right back.
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♪ cheryl: even with the unemployment rate at 11.8% and highest foreclosure rate in the country, nevada is still considered a bat 8 ground state. -- battleground state. adam is live in las vegas, adam? >> jeremy from the analysis organization is going to explain to us applied analysis why it's a battleground state looking at forecast and unemployment. nevada has recovered, foreclosures started to recover, but it's still up in the air. what's happening on the ground here? >> well, overall, i think things are better, but far from good. you know, we still are at or near the nation's highest in terms of unemployment, in terms of foreclosure, and bankruptcy, but as you said before, we're seeing the number of foreclosures coming down, housing prices going up, and people are going back to work. >> put that in perspective. 2% or 3% deappreciation takes 25 years to come back. benefit mitt romney or president
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obama? >> depends on what people remember when they go to the polls. the last four years in southern nevada's been difficult, and nevada as a whole, and when people vote, they have that in mind. hey, i'm underwater in the house, someone is unployed for three years. you know, on the other side, there's a feeling, like, maybe we turned not thee corner, u a corner in the economy. that's something we'll have to watch. >> one of the remarkable aspects of the economy here is they are on average to have a record number of visitors. are they putting people back to work? there's the highest unemployment rate in the nation here. you bet. the leisure and hospitality industry led the way seeing recovery. yes, we will, in 2012, set the record for the most number of visitors coming. >> all right, jeremy, thank you very much for joining us. clark county, and whether it's going to mitt romney or barack obama, state polls lean towards
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now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so csider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to quest
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