tv Markets Now FOX Business November 6, 2012 11:00am-1:00pm EST
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we are finally here. the candidates casting their own votes we will have live coverage around the state's. dagen: what you will not hear from today governor richards and and karl rove, ron paul standing by the man to co-anchor the election coverage is still ahead. >> we have stocks every 15 minutes we go to nicole petallides at new york stock exchange. >> everybody here is focused on the aftermath of hurricane sandy today is the presidential election one
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digests said he does not how he will get across to vote united technologies caterpillar are leading the dow but this floor is pretty much one-sided they think romney is better for business. we're up 81 points. connell: bill richardson and joining us first of former democratic governor of new mexico. good to see you. look at the day dead the slight edge to obama's but what do sure biggest concern today? what is the biggest worry? >> turnout that the election
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operation is not up to par but i think it is. the hispanic states will cover the president and he will be reelected. nearly 290 votes with the hispanic vote over 70% once again it is a turn out issued to make the difference. connell: you think nevada colorado go to obama and he still wins ohio? >> yes. i am not perfect but the
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hispanic vote, obviously the storm is a massive tragedy to slow the governor's momentum. the president looked presidential. those two factors will make the difference. connell: looking at the possibilipossibili ty is the rest of the hour but the economic course 10 the former energy secretary, gas prices every day at the all-time high on election day. that have a negative effect at all for the president? >> and not think the voters blame presidents for gas prices. and has been going down.
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he does have a strong commitment to renewable energy. i think it is awash. >> the hispanic vote turns out. thank you for coming on today governor richardson. dagen: the all-time high by $0.3 per is close. brett baier is here. >> good morning. dagen: what will you look at tonight's the people will not talking about turn out to and states? >> we will have an early sense with virginia at 7:00 p.m. we will have exit poll numbers to give us a sense
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with ed dead heat depending on how that chefs. dagen: romney needs to take a virginia to think about ohio. >> the path is difficult if he does not take virginia. those need to go into the romney column. pennsylvania is in play. both sides concede it is there. that is why one of the last drops is pittsburgh to get out last votes. connell: what happened? it could come down pennsylvania or ohio. >> it is to more electoral votes and ohio does not matter. because the democrats did not play ball in
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pennsylvania to calderon day of corporate raider or tried to knocking down. it was clear territory. so he starts to campaign. the state republican director was told to get to ohio. than the polls started to turn. they said comeback now they are within striking distance. a big issue is cool southwestern pennsylvania. those are a lot of votes. dagen: what about obama to take all the swing states. >> that is bold. and brazen.
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bowles sides are talking that way. dagen: what is the end goal? >> they can both make decent cases. they have two different models. it is heavy on early vote and the romney campaign is foreword and a turn out drives on election day. connell: if mitt romney only wins one which is more likely? >> pennsylvania. dagen: i did not tweet you'd be on the program. karl rove was all over it. [laughter] such a pleasure to see you in person.
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he is co-host dean fox news election end coverage with megan kelly starting at 6:00 p.m. eastern and our own election coverage begins at 5:00 p.m. eastern. you can watch both. connell: and we're on tomorrow morning at 5:00 215:00 in the morning tomorrow? you and me? connell: 5:00 tomorrow morning. battleground states a must win for governor romney and melissa francis is in tampa florida. >> absolutely ground zero in florida. at a polling place this is a
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swing county with the swing region and the swing state. the corridor divides the state almost to the north. the north is republican the south traditionally democrats. they're fighting it out in the middle. i landed last night every single advertisement was political. they're getting hammered to decide the race. they have voted the president correctly since reagan was only one exception. florida is winner-take-all. the polls close at 8:00 p.m. to when we will take you live to another key state where many believe the race
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dagen: it is time to make money with charles payne. connell: we do presidential investment options. >> with medical obama wins look at the hospital stocks. 10% of the revenue is doubtful. they may get that money back because everybody is insured. but medical devices should do well under romney if he can revamp obamacare pro. to at -- taxing these companies could cost lives
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down the road. the u.s. dollar, but bernanke stays in place with large debt to ron paul with the technology stocks selling some much overseas 66% of the revenue but people think the dollar would be strong under mitt romney looked at carnival cruise lines people make a one vacation. also economic philosophy. we prefer renting and dating and not have been kids. rent-a-center under obama but kelly services with the romney. dagen: and that is a lot of information and. >> i have three more at 1:00 >> i tried to play
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politically neutral. >> i a was in the hotel seven days. that is all i have left. [laughter] connell: let's go to nicole petallides at new york stock exchange. >> look at express scripps the number one loser of the i's and the 500. earlier this year they bought medco but the outlook is dismal the outlook for growth is too aggressive. the unemployment picture, the economy, and the customers do not see people buying medication the way they could.
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the major market averages have up arrows. connell: of bid line up going with bud governor from nebraska. karl rove is here and so is ron paul. dagen: he has even more twitter followers talk about the dollar how was it holding up against the euro? very expensive considering their financial state. ♪ holding up against the euro? very expensive considering
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remember mitt romney is campaigning in the city of cleveland. ohio and pennsylvania today. dagen: the president will play basketball. he is a little superstitious usually winner takes all but nebraska is one of two states to have the alternative method to distribute the boats we have governor heineman of nebraska up. you have been on the campaign trail with governor romney. do you feel a surge of support to help get out the vote today? >> no question he has the enthusiasm and energy and excitement.
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i was with him where 35,000 people turned out that went to colorado on saturday. republicans and democrats told me romney will wind colorado because of the obama energy policy negative two oil and natural gas. no question enthusiasm is on our side. connell: they are focused on energy policy even of national debt. >> and colorado and the number one issue this3 our side. connell: they are focused on energy policy even of national debt. >> and colorado and the number one issue this economy and jobs. colorado has the unemployment rate of 8%.
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they're not pleased with the president's progress. with the way nebraska splits the boats will other states go that way as well given that make sure state important to both candidates >> in one way but i would argue it is a national election in all 50 states should play by the same rules. either our math did zero were winner-take-all. it is a football game will have a different set of rules i don't think is appropriate. i told governor romney would have been the last time he committed he would make the resources necessary to win and all five boats will go
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to mitt romney this time. dagen: would you call it for governor romney? >> i think it is very close ohio and pennsylvania are in play i think we will be up a very late to know if the wince ohio and pennsylvania. many battleground states are within the margin of error the enthusiasm will prevail. this is about the american people. no more polling. it is up to them. i encourage them to turn out and vote to. dagen: right down the middle everybody can agree. governor heineman from the nebraska. connell: moving to karl rove
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posted a net income of $20 million compared to a lot of last year. let's look at the dow jones industrials. the dow is up nearly 90 points. data chad with keith blitz asking what you think about the markets and will we are reacting and the feeling was noise and getting a move here. majority of dow components in the green, banking stocks doing well but the fear index, no fear here to the downside. connell: all right. dagen: the polls have been no the for a few hours already an karl rove has made his election prediction. here it is losing some romney will win the electorial college with 285 votes compared to 253 for president obama. connell: president george w. bush fox news contributor with us in studio. thank you for coming in. we saw you with bret baier last night. dagen: we watched from home.
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connell: i don't know -- dagen: we were messageing each other. we were in sync with what we were learning. connell: i remember that. i said to him if romney is going to win, ohio or pennsylvania? you obviously think ohio. >> pennsylvania is in play but it is a state that is a last-minute opportunity seized by romney and we will see if it pays off. group i am associated with is $2 million and the last ten days to cover every media market except philadelphia. virtually every poll shows romney winning the independents in ohio. if you are republican presidential candidate you carry a higher. second thing is the early vote. you don't register by party in the state that you are identified by what primaries you participate in.
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four years ago 340,000 more democrats cast an early vote than republicans and republicans won the election as they have every presidential election since 1964 and offset that 340 and obama won by 362,000. saturday night, 55 fewer democrats voted than four years ago and 119,000, nearly 120,000 more republicans which offset that swing meaning republicans will go into election day 105,000 down rather than 340,000 down and they will win election day and wipe out that 100,000 democrat margin in early voting and win the election. dagen: tumor me and talk about the critical counties to watch. in the state of ohio. >> biggest one is going to because iacocca. they win the county, last time they won 68.6 republicans basically under 30. republicans have got to get
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above 30% of the vote in that county and gets 34% or 35 and 240,000 votes is what republicans need but getting to that number. for republicans the outset is hamilton which is cincinnati and think it's a big block of votes in suburban counties, butler, warner and claremont but if they witness a they lost last time around that is one to watch and watch a little, a little county in the south east part of the state. generally a democrat leading county. it is a bellwether county. dagen: pennsylvania. >> ohio. it voted with the winner in virtually every modern ohio presidential election and will be interesting to see. if romney is going to win this is the county is likely to pick. connell: we do -- dagen: i seriously meant that.
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[talking over each other] connell: let's keep going. one question popped into my head, making your predictions, what is your degree of confidence in what you are predicting for this election? everyone is talking about the new york times, 90% chance obama wins. >> in a close election you can saying -- [talking over each other] >> totally unpredictable election. no tossup states. tell us how you are going to -- [talking over each other] >> flipped a:because some of these states have a nice edge and the idea you could stay with 90% certainty that one person will win the election that is this close is ridiculous particular early when you are basing it on strictly poll data. yesterday we at abc washington
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post, 50% obama, 47% romney. also had 35% democrat, 29% republicans, 6% more democrats than republicans. that was just one point less. does anyone think the political matrix is going to be depressed returning then -- republican turn out to get that revenge? cnn, ocr, 49-49, really, 11 points more democrat. does anyone think democrat enthusiasm will be more -- almost twice what was last time? the idea that you can look at those numbers and have no sense of the politics and stay with 90% certainty something is going to happen is laughable to me. dagen: i can't wait. >> it will be interesting to watch the returns. dagen: watch my home state of virginia. >> what count your city?
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judge napolitano: >> excellent. [talking over each other] dagen: i love seeing you. connell: use of video of chris christie in new jersey casting his vote moments ago. only pollsters and pundits we have been talking about, seems to agree, we will talk about it some more. the importance of the ohio. dagen: jeff flock. phil: karl rove has not seen the power of the obama ground game in ohio. it is impressive to watch. mitt romney as one too. the ohio capital of columbus. the tufting is governor romney has not led in a single:last couple weeks in ohio. that makes it difficult. closest is the rasmussen poll which has been tied. deal i know poll which university of cincinnati has, pulled yesterday at obama won by seven points but if it is close
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here is where ohio gets interesting because of the labyrinthian process of counting votes. not counted tonight, we spend an hour with secretary of state in ohio last night, absentee ballots, oversee ballots, with incomplete ids, provisional ballots. a lot of people expected to account provisional ballots adjudicated later. as many as 200,000. it is a close race we will not have a winner in ohio tonight. we could have florida all over again with worse weather. would not be fun. dagen: i love how you bring it back to the weather. thank you. jeff: i was in florida in 2,000 and it was nice. will not be nice here. connell: we will get it settled one way or the other. the other big story developing today in addition to the election is in this area in the
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northeast, and super -- superstorm sandy, this nor'easter taking shape. dagen: janice dean is standing by in the fox business weather center with the latest on this storm ended the serious one. >> 50 miles inland or offshore is going to be the difference between a lot of snow and wind and rain. we don't have a handle where the storm will go. here is the best guess at this point. rain along the battered shoreline where we dealt with sandy a week ago. wind gusts 65 miles an hour along the coast, heavy snow interior sections of the mountains. that could change and we're looking at coastal flooding and beach hero and because a lot of the dunes have been destroyed. this will cause a lot of problems for the natural barriers and potential for flooding and even storm surge across jersey and long island. wind gusts, we could see 60
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miles per hour off shore at the height of the storm which will be overnight wednesday into thursday and we could see measurable snow or we might not see measurable snow. we have to fine-tune its forecast. that is the problem with this. a few miles out to sea makes the difference. we will keep you up-to-date from the fox extreme weather center. dagen: it is all about homes, that could hurt president obama when results come in. we have a live report. connell: and we will have ron paul on and former presidential candidate, very interesting to see what he thinks on this election day where it devotes may come down and supporters of meaning and everything else. speaking of markets, treasuries today, 1.7%.
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lori: i am lori rothman. voters head to the polls to cast ballots in this closely watched presidential election. mortgage giant freddie mac not seeking federal aid after turning a $3 billion profit in the third quarter. an increase in home prices declined more demand for see. and the billion dollar taxpayer rescue and larger siblings fannie mae was the most expensive bailout of the 2008 financial crisis. an end of the road for americans, business. and part of the restructuring plan. the moves are unrelated to the motor corp.. that is the latest on the fox business network giving you the power to prosper.
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connell: going out west to nevada. dagen: adam shapiro live, what do you know? >> polls will close at 10:00 in new york and 7:00 pacific standard time and they are voting like the rest of the country. and they cast their ballot, and motivated your decision, now have to be careful. i can't tell you how people voted because we are inside the polling place. the decision where medicare, medicaid, immigration and the war in afghanistan what was the war in iraq. these are very unscientific pollings on my part but those are the issues that were resonating for them.
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none of them said the economy and when we were broadcasting on the las vegas strip we were talking economic issues and how that has been hit during the recession and las vegas and nevada's recovery. that is the issue we are talking about, watching the election year. nine people voting here and you talk about a closely watched election. seven registered observers here and some more observant than other people casting their ballot. connell: adam shapiro in vegas for us. dagen: stocks now and right now, nicole petallides watching the big loser for us. nicole: taking a close look at cablevision. cablevision down 5%, talk about what went off, turns out the costs are significant for a name like cablevision saying customers of hurricane sandy have to call in and get rebates.
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sandy will be worse than irene for cablevision. substantially larger impact from hurricane sandy, $16 million impact it saw from hurricane irene. that is what we are looking at. significant costs could be related. that is the chief financial officer coming off and talking today. take a look, dow jones industrials doing quite well at 1.1%, 150 points for the dow. connell: ron paul is coming on to talk about today's election. is never boring. ron paul coming up next. dagen: easy to find winners across the market. take a look.
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dagen: we have been arguing all morning off the air about the right to vote and the need to exercise it and those folks in new hampshire, small town which opened its polls shortly after midnight every election day since 1960, votes, each for president obama. and mitt romney. the tied this year is the first
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in vix ville, the town voted for president obama in 2008, first time a democrat won in 40 years. just go vote. don't care where you live, whether it is blue, red or purple. connell: supporters could have an impact at the polls today. the texas republican congressman, former gop presidential candidate dr. ron paul collins us right now. the idea of young voters, what would you say? >> they are in tuesday times but not about the current election and the choice between the two candidates, they don't feel a lot of difference between the two but there are other candidates on the ballot. everyone knows one of two main contenders will become president
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and they don't see enough difference to get excited about this and that is the reason some won't and some will vote otherwise and some will write in names. who knows what they will do but they are frustrated and aggravated that we don't see an opportunity to change the direction of the country. connell: can always try again. what do you vote for? >> i'm not talking about that. connell: why is it not important for someone like you went through this process as a republican to tell you you are for today and what does it say about the current election and the state of things that you won't say? >> you don't give much credibility to the election and there's not enough. we have a republican candidate, and conservatives, and mitt romney is advocating we increase the debt by $2 trillion.
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that is not very appealing and a position on medical care in massachusetts does not offer much difference so if we give too much, the most crucial election of our lifetime and i can't quite agree with that. connell: you mentioned militarism, the federal reserve which we talked for years about, you don't have much confidence these issues will be paid attention to? >> the reflection should be did they talk about them when they gave speeches or the debate, federal reserve was not brought out, was it brought up, the fact that the president we have now has issues to kill this and the authority to assassinate individuals, american citizens, these things were not discussed. did they talk about being cautious about undermining the fourth amendment? the subject doesn't even come up
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so when a comes to civil liberties and monetary policy, and -- connell: a clear choice between opposing visions and there's not a lot, after it is over tonight, either big changes in store for the country or will the status quo continue? >> status quo means there will be big changes and need one addressed it. the biggest problem immediately is the fiscal crisis coming and the huge debt but neither one has talked about the actual cuts. nobody really helped explain to the people what budgeting means but spending is going to continue and deficits going to continue, who knows what will happen in january but they will postpone big decisions and pushed them out six months or a year and try to decide later on but eventually this is going to be at major event.
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the crisis in greece just went through, nothing compared to what the world is going to go through when people reject the whole principle of currency that you can create wealth in the air and bailout everybody and no one has challenged that and it makes no sense whatsoever it that you can do this even though it seems to some degree be working but it is done on pure deception and can't last. connell: we will talk about those after the election. ron paul. dagen: one thing we haven't argued about this morning. we continue election coverage with live reports from all over the country and what is turning out to be an election day lottery. connell: markets now continue after a quick break. ♪ [ male announcer ] this is karen anjeremiah.
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cheryl: i am cheryl casone. dennis: i'm dennis kneale. cut to the minute coverage of politics. the candidates out early to cast their votes. the key states will decide the -- -- dennis: rich edson in ohio, jeff flock in a high which could be the key to victory. adam shapiro in nevada. we have one more, and one williams standing by as well. and todd schoenberger error, and the equally outspoken gary kaltbaum, president of kassebaum management. we kicking off with stocks now and nicole petallides who is on
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the floor of the new york stock exchange. we have an election day rally and the market is picking up in the last 20 minutes. nicole: this is a market that has picked up steam. you see the dow industrials up 151 points. that is the gain of more than 1%. the majority of dow components in the green and bank stocks doing well. traders i have been talking about on wall street, a majority of them are leaning on wall street more towards romney but some say a rally means it is a romney rally. it depends which way you are leaning on this but you got to take a win for a win and that is the stock market, you are feeling good today because we see lots of up arrows. dennis: after crisscrossing the country in a campaign blitz, president obama waiting the final results and the latest.
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>> president obama will play some pickup basketball soon. and election day ritualnd some local tv interviews. no surprise where these are, two and i'll and one in florida and colorado and snap at and washington d.c. aimed at the northern virginia market. the president took time out to speak to some election volunteers. >> after all the tv ads and fund-raising and debates it comes down to this. >> president obama will end up here on the river, basically every campaign in the history of presidential campaigns, lots of confidence from team obama, citing polling with slight leads the consistent leads and if they win the electoral vote and the
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popular vote. dagen: thank you very much. pundits and pollsters and politicians agree ohio could be the key in determining the outcome of the presidential election. jeff flock in columbus with the latest on the ground. >> not to scare them it is not to scare you and your money but if we get done tonight and don't have a winner, that could happen because of the ohio. it is very close. take a look at the numbers of votes that will not be tabulated tonight as it may hold the balance. there are votes that will be late arriving absentee ballots from overseas, the military and late postmarked, absentee ballots being challenged and the provisional balance. this year they sent applications for absentee ballots to every voter. some we turned them and some did not send the ballot to the polls. to collect a vote and provisional ballads that could be 200,000 or more votes that could swing the balance of
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power. tough to see how somebody wins without ohio. look at the latest polls, there's only one that shows governor romney, the rest show president obama in the lead. hard to see how governor romney wins without ohio. hard to see how anybody wins without ohio the way the map shapes up. we will be here all night and take you inside the capitol behind me to show you the sophisticated operation, secretary of state has to count votes and deal with weight problems and those they can't count yet. connell: jeff flock in the center of it. calling the romney campaign, quote, one of the most deeply cynical in american history. fox news contributor juan williams wrote this, a romney win would be a victory for shameless cynicism. he joins us now. i will let you go first. stay your case. >> the case is obvious. if you look at the last week there is mitt romney telling
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people in ohio gm is going to take jobs overseas, move the manufacturer to china and executives say a hold on, that is outrageous. that is not true. most political campaigns, you go with your opponent, john kerry had an overseas at the front lines in vietnam, president bush had not. they made an issue of his military record and succeeded in cooling and down. in this campaign what is different is in the twitter universe, social media, you can say things and not necessarily have them based in fact and when people catch up -- cheryl: social media i will give you but this all goes back to 2004. this is the new way of politics, make accusations first and proved it later on the back side of both parties. they're both doing it.
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>> they found what they call pants on fire 19 times but what strikes me is what you said in this kind of high-tech media we live in minute by minute, you can say things now and default your opponent to contradict you. in the past it was more a sense of going at you but we know you will stay in the lane of truth. [talking over each other] >> i have been a lifelong registered democrat. i cannot remember voting for a republican for president. i have never been more dismayed with my undemocratic party. you talk about a cynical campaign. when president obama says it is the bush tax cuts that caused the downturn, cost $80 billion a year and obama spending one$.1 trillion more than the
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government collects, $5 trillion, up romney has an offshore accounts and romney is rich, that is cynical and divisive from the guy who promised he would unite us together. how can you think republicans are more cynical than democrats? >> i did not say they were not cynical in terms of telling the truth. it is telling you things that we know are not true but one of romney's advisers said we are not going to have our campaign constrained by fact checking. [talking over each other] connell: those are real things. >> you said obama blamed the bush tax cuts. obama -- [talking over each other] >> what got us into the recession was the collapse of the american economy back september. [talking over each other] >> don't confuse -- cheryl: we have to go. a great discussion between both
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of you. [talking over each other] cheryl: is an election day rally. hands down, 169 points and todd schoenberger air, and capital management president joins us now. you are worried about 2013 no matter who wins. you don't care who wins today. >> the market is going to do what it wants to do and we have seasonal strength and going and the fed printing $40 billion a month. typically the year after a presidential election, not very good and earnings, sales growth, that will catch up in 2013. cheryl: 20% of dp. and lackluster earnings news 3 rnowred not¿
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most important part of today, 13,000 on the dow held and also 1400 on the s&p and as long as those areas stayed above those levels good news and also financials are starting to reassert themselves which is nothing but good news. cheryl: this is a 20 year charts by the s&p 500 showing how these markets perform. if you go back to 1997, these are where we had strong markets, republicans, democrats. >> obama, the one thing about obama, look at the stock market performance using doing the fifth best performance of all time for a first term president doesn't matter what his party is. you can say the fed or whenever going forward you have to suggest he's going to be reelected that will be good for stocks. the issues you have this government so margins right now you have to assume we will hit a brick wall. not one person on wall street
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think this rally today has anything to do with president obama. cheryl: the video we just showed you of governor romney and his running mate paul ryan at this point going where are they going? cleveland, ohio. we were just saying it would all be about ohio. >> he's not playing basketball. cheryl: something else, at the end of the day this country has a lot more to deal with after today, the fiscal cliff, talking about taxes, regulations, everything on the table and if we do have president obama reelected it will be up to congress but at this point we don't think it will change but it looks like they will most likely be the same. how do you deal with that as an investor? >> the debt eventually implode. they are taunting markets with $16 trillion. if nothing is done we will be in the 20s the next four years and i don't know what day we wake up and the market fights back. remember the housing bubble to
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two or three years to happen before that imploded and they are making a huge mistake and glossing over it by the fed printing money to cover the debts and the bottom line for me is we will wake up one day at one point and the markets are going to crater in a big way because we can't cover it. the next six years of taxpayer dollars have been spent because of this government and if that doesn't change into they don't get on top of it soon, it is just a matter of time. cheryl: sorry about the time, great discussion, market's looking good anyway. thanks. >> enjoy the day. dennis: a week after superstorm sandy left town a huge failure by government made more so by industry. live at the cme next with how you might make money on this. cheryl: the threat of snow for the storm battered northeast, many don't have power today. live in the weather center with the latest on that.
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office depot and officemax and a tough competition with staples, but it turned out the smaller rivals may be pulling ahead of staples because they are further along in their turnaround plans, both officemax and office depot topped analysts' expectations for profit and good sales and cutting costs, they are doing it. dennis: gasoline futures are soaring as long lines continued, thousands of people filling up in the northeast, phil flynn of price futures group and fox business contributors standing by with the latest. phil: a lot of refinery outages causing these to go up not only in the northeast with two major refineries but also in indiana and texas but what is interesting is the price of gasoline in the northeast could fall compared to the rest of the country. the inverse trade because of the spread between the gulf coast in the northeast. the northeast prices are much higher than the gulf coast
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tracking more imports to new york to keep those prices stable. the rest of the country going to lose the gap. prices backup, late breaking news the department of energy and energy information administration just lowered their demand forecast for the rest of 2012 by 40,000 barrels. they have to lower it even more in 2013, same-store slowing growth across the globe means less energy demand and lower prices going forward. back to you. cheryl: demand destruction, not a big supply. already warning more power outages in the northeast, not to mention the possibility of more damage to neighborhoods already destroyed. live in the weather center, rain, snow, wind. dennis: politicians will pull power company licenses deutsche boerse contacted the storm. utility stocks, answers ahead.
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in the coming days, tracking a nor'easter from the center. >> dealing with potential for moderate nor'easter, thing they don't want to hear across the jersey shore and southern connecticut. this is not a slam dunk, you knew sandy was going to make land fall. 50 miles inland or 50 miles toward the atlantic is going to mean a big difference between snow totals, rain totals and wind gusts. they don't know where this is going to go but in the meantime people on the coast need to be watching this impact. rain heavy at times mixing along the coast, wind gusts, 65 miles an hour, heavy snow in the interior section of the mountains. that could change and coastal flooding and erosion because a lot of these dunes have been destroyed. that will be a big issue and a lot of folks without power.
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there are the wind gusts, the worst of the weather coming overnight wednesday in to serve as day. wednesday at 8:00, into thursday morning and again wind gusts just offshore, 60 miles per hour along the vulnerable coast lines, and battered by sandy. of bad news story, adding insult to injury. if you did not have sandy this would just be a run of the mill strong nor'easter but because we are dealing with areas that are hurting so badly this will be a very impact full storm. want to point out we could see the heaviest snow across new england 6 to 12 inches in new york city, could get one to 3 slushy inches and on the leaves of the trees and power lines we could have more power outages across the region. cheryl: thank you very much. dennis: we explain why to drop the the teach out of the middle of nor'easter. the new york governor in new
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york city mayor attacking utilities for their performance after hurricane sandy. will more regulation do anything to put the lights back on? liz: governor cuomo reacting up the record -- rhetoric. he is saying no god-given monopoly, that is what you cannot expect in the future and here is the governor yesterday blasting the utility's. >> unfortunately i am frustrated, the understatement of the decade would be disappointed. utility companies and not performed adequately and i promise the people of this state they will be held accountable for the lack of performance. liz: watch out utilities. the backlash against utilities, we are hearing from power companies, to force them to bury power lines. we see that in germany and another one but utilities saying it is expensive and did not work
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in katrina and expensive to check power lines, concrete utility poles, prepare for 14 foot waves, drone aircraft in hot spots and bigger work crews, utilities and oil 16 times earnings multiple at the highest evaluation in years and there's a reason, when governments put the onus on them to do it, they have to pass along some of which means rating crease last for consumers. cheryl: with the political criticism and another storm in the northeast, is now the time to sell or hold these utilities? travis miller utilities analyst at morningstar joins us now. buying these names under pressure, what do you say? >> if you look at the storm in particular, we think obviously it is a huge storm for utilities, we had eight million
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plus customers out of power which is among the worst storms we give seen in a long time. we estimate $1 billion of damage to polls, wires and other distribution, transmission assets. we put those in perspective we are talking about utilities here that have among the largest customer baaes in the country and the largest capital bases in the [talking over each other] dennis: cheryl: we have a lot coming up this morning, looking at $65 million in losses, and warning as 48 hours ago expect more power outages thanks to this. this is an impressive time for the northeast utilities and names on the screen for our viewers, all of these guys have never been through something like this before. not in our lifetime. >> absolutely. if we look back at katrina, one of the last big storms we had as a precedent for this, $1 billion
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we estimate on katrina costs. that was a big issue for the smaller utilities that they alone. these utilities are very large but it will be very critical to watch regulatory developments over the next year and a half. some precedent on regulatory developments with irene and a snowstorm last year. cheryl: a big thing to watch in the next 48 hours is the power could stay on in the northeast and it is still off for millions of customers. someone will be paying for it. thank you, appreciate it. cheryl: remember the hanging chad in florida in 2000? they postponed the results of the presidential reelection. new problems he merging. we will be live in the sunshine state with melissa frances. melissa: a lot of those problems had to do with the lines ahead of time. 4.5 million people voted early in florida.
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you'll be able to choose any doctor who accepts medicare patients. and you never need referrals. if you're thinking about your options, call today. when you call,equest your free decision guide. and find the aarp medicare supplement plan that may be right for you. >> nicole petallides at the new york stock exchange. remedies and rally. dow jones industrial average up 161 points. every 15 minutes we check the market. all markets up arrows banks banks, drugs, oil services. the vix index to the downside. everybody is out voting for the president of united
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states. dennis: some polls favoring obama in the past 24 hours but mitt romney camp shows the internal polls shows him of leading. what if they're wrong? grade, you say by 7:00 tonight when virginia closes we do not have to stay up late? >> i think we'll have to but the numbers will start coming in quickly. if obama is tied for a slight lead he could have a good lead i am guessing romney wins virginia but it is a tie. cheryl: in new hampshire closes at 8:00. >> that does not sound like much it is only four votes but they report pretty quickly within 45 minutes
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and in a really close race down at two under 71 if obama loses new hampshire he goes below 270. dennis: all lot riding on a small state. what about wisconsin and? >> i have obama met with wisconsin. if that is shaky i am not convinced he will win.3 that is the state of paul ryan, a scott walker. and a close and if it looks tight we could be up really late. cheryl:. dennis: then romney could stage a comeback then to go to ohio closing at 7:30 p.m..
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i am sorry if obama wins ohio it is over? >> with that initial balance is the absentee ballot but if you start to get in the boat to from cincinnati, the coal district it could be after midnight or maybe days or weeks. dennis: early absentee votes go for obama's but are there high votes voting early republican? >> more than in the past i do think the majority goes for obama's. elderly people who would vote for him initially.
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dennis: is there a gap from what you tell the pollster than vote differently? >> absolutely. that is why look at the "new york times" who has 92% chance obama will win. at all think it is 90% if you look at the wild card calling people with cellphones, i think it will be a very, very close race. dennis: obama's? >> i have him at 281 greg valliere. good job. cheryl: we are all over the swing states the sunshine state is of must win. melissa francis is in tampa florida.
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>> this is ground zero right along the interstate four corridor cutting the state east through west the north parmelee goes republican and the south goes democrat wrote this is the battleground. at has been a slightly even mix listen to these voters. >> i voted for mitt romney i want change. >> i voted for barack obama hit because he needs more time. >> a total waste of time they could have had lunch but everybody hess to cast their vote to. no president has won without this president except calvin coolidge.
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4.5 million voted ahead of time that is why we saw big lines early that is been a big issue of florida but it is lighter. cheryl: it will be a long night. dennis: as the numbers start to have been at 5:00 p.m. with stuart varney, lou dobbs than neil cavuto. you will bring as the exit polls? >> we will be in the virtual studio. dennis: they could be controversial you could negative the hopes if released to early. >> we have a meeting about that.
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>> by a at robert gray. with your fox business brief eight people have been shot to word dead in california at a food company. the abc affiliate reports the suspect is among those dead but it hasn't been confirmed. united arab emirates have requested to buy missile defense from lockheed martin buy it as the boy $6 billion. the sale has been approved we began up to lawmakers to repeal it. >> regulators looking into unauthorized trading after the firm's president told the wall street journal also receive apple shares andover bought by 1,000 shares. this is the latest from fox business, giving you the power to prosper.
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to line priceline has been soaring since obama won the election in 2008 now we have the winners of the obama era >> daewoo try not to speculate since going back to the election day. priceline.com is up 11 fuld $643 per share. wholefoods is up 873% since the last time voted. automation and is up and it was a trend of people fixing up their cars instead of buying new ones.
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expedia 563%. windows world wide up 500% and then apple false number six the zero smb companies it has lost a lot of steam recently. to and ford motor company makes a major comeback 421%. fossil is number nine up 420 1% sales force.com coming in at number 10 i will have the losers a coal company and the solar company will just leave you with that. dennis: we have stocks every 15 minutes nicole petallides. >> and everybody is talking
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about the presidential election those who vote for romney and obama the dow jones industrials up when the dow 55 points there are arguments is a higher because of honest day's end of this or the romney rally? some of the names leading that dow jones industrial average jpmorgan, bank of america, caterpillar, united technologies, microsoft, hew lett-packard. the vix index to the downside whichever way you vote today be happy you have global market -- abell market. cheryl: now down 150 points small-business awaiting on
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offense to begin hiring but when ceo says hiring depends entirely on who is elected that truly matters? >> if i need to replace somebody i will higher now but to grow the business i want to jump in with the fall -- with the fear of the regulations and taxes. cheryl: so vomited is reelected you will not higher? >> by still have the uncertainty with regulations , until i know that i don't want to invest money into people and tell i know the horizon. that is right. cheryl: what about governor romney? >> i afield comfortable we have a chance for growth. i think we will accelerate
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this our medicine to take. we have the fiscal cliff but the long term vision will be better. people will invest more money now than later. cheryl: is seems businesses all have anxiety. mainly taxes and the issue of health care and regulation. what will business owners be voting with? >> their number one issue their social issues but in general they look for certainty or clarity. how the lame-duck session handles will be interest same. will they recognize it is time to buckle down to solve
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it for us? >> cheryl: mayor bloomberg a billionaire is behind the president. isn't there some business support? >> without question. the true 1% of the 1% weight to them so sort of, because at that point* the taxes don't matter. but with job creators i don't think the mayor does that much job creation. those who create jobs i would say governor romney. cheryl: how soon? >> the posting is created but i will post it tomorrow morning. cheryl: base of the election only?
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some of the most controversial ballot initiatives proposition 30 raising taxes on those making to modify 2004 more and increasing the sales tax or there would be an automatic trigger cutting $6 billion from education. proposition 37 the first law to force companies to declare it genetically modified ingredients. they say it will raise prices on consumers but others say it will help consumers make better choices. oregon, colorado washington have ballot measures to legalize marijuana for recreational use. is the first in the country to do so washington and colorado indicate the measures will pass. dennis: the battle is on
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overt nevada the swing states we're there in las vegas with adam shapiro. >> would get the numbers 2. 7 million people who live here the majority have already voted early. today is important because according to the same state election officials look democrats versus republicans democrats turned out more at 70,000 but that is less than 2008. republican vince show up on election day in far greater numbers. clark county most live in this area it was hit hard by the recession and. i ask people of their motivating factor none of
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them said the economy. some said the war, at medicaid medicare, immigration. this area is suffering to the big asian with unemployment, a housing crisis nobody said the economy. cheryl: we have special prime-timprime-tim e lineup with lou dobbs, were very -- i am sorry. stuart varney, then the dogs then neil cavuto. we have the virtual studio also peter barnes with the balance of power with the senate. dennis: we will continue erection coverage next across the country. cheryl: what is the election
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maybe it is not a rally that may be today is finally over. >> company's earnings are still coming and we have a great rally with reporters all over the country. tracy byrnes will go over the next hour. >> what about europe? the global money is flooding the markets we are the best of the worst. >> i am tracy byrnes. lori: down to the wire as the president and a governor face-off and the key sa
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