ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pure lte build. the most consistent speeds indoors or out. and, obviously, astonishing throughput. obviously... you know how fast our home wifi is? yeah. this is basically just asast. oh. and verizon's got more fast lte coverage than all other networks combined. it's better. yes. oh, why didn't you just say that? huh-- what is he doing?

and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find se good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. melissa: welcome, i am melissa francis. lori: i am lori rothman. investor enthusiasm pushing record territory after setting a new all-time closing high

yesterday. the case for why stocks will go even higher. melissa: or very own statement on the market, lou dobbs joins us with historical perspective and whether or not to trust the rally. i will try and call it together here. lori: today the weather shutting down washington but congress is still in session. the house to vote this hour on a $1 trillion budget to keep the government funded through the end of september. melissa: gas prices ticking lower, but how long will it last? lori: you sound horrible, what is going on? why drivers will be shelling out less at the pump. somsound bad, but you look grea. melissa: before the new york stock exchange. nicole. nicole: good luck, hope you feel better throughout this hour.

we noted the dow hit record highs today, the highest ever. we took out the 2007 levels, went beyond that yesterday, today even further moving up 14,320, and we're still holding onto gains. we haven't given it all back just yet. the nasdaq and the s&p a different picture, slightly lower. the dow up one quarter of 1%. there is some very heavily weighted names in this index. some tech names among the best winners come you can see hewlett-packard and cisco in there. intel pretty high up on the list but american express goes into the top spot. financials are top gainers. overall big picture, we are seeing a great market helped the economic news we have gotten in and you can see a lot of winners here as well. melissa: thank you so much. when you have six kids, it is

inevitable. i look at the jobs section this weekend strong numbers driving the dow even higher. ap says the private sector added 198,000 jobs last month, well above the estimate of 175,000. coming ahead of the report on jobless claims which is expected to show an increase of 355,000 in the latest week. friday the government bigmouth report expecting 160,000 jobs added last month, implement rate holding steady 7.9%. lori: the dow marching on. the correction just around the corner or is there more room to the upside? always great to see you. so, again, as we have been stating, the dow is building on the record close yesterday. what is your outlook? is the dow at the best levels

for the year for 2013 or is there more room to run? >> i think there is more room to run, don't do how much more but i don't think the rally has come to an aunt. obviously the moment of introspection if you will. you have to re-examine if you are assumptions are accurate, but i still think the market is attractively valued, earnings are still growing, very little inflationary pressure in the fed is very active and tends to stay that way. i think there is room to move higher. how much, i don't know. but i like stocks, and i think the trend is to the upside. lori: what is the message, david, the dow hit the record after flirting with it for weeks after the sequestration cuts went into effect? >> on the sequestration issue, to some extent we have moved beyond sort of the clematis

expectations of it in some quarters. when you consider the size of the cuts be made relative to the size of the economy, it is pretty clear they will be some hardship, there is not that big of a deal in my opinion. at the same time there is a certain positive message being sent by it to the extent whether we do it wisely or not, we will make an effort to get our fiscal house in order. the sequestration i think is a net positive for this market, we will see what happens with the budget debate coming up, we are not out of the woods right now. lori: you mention the fed and the last-minute gave us confidence the fed will keep on for the duration, but the market has to have more than the fed fueling it. we need some fundamentals with the economy, the adp private-sector jobs report edition for january better than

expected numbers for february, the next government employment report out on friday. do you see more economic fundamentals supporting the rally? >> i do, and you're absolutely right. the fed can only do so much. we can prop up the market, the economy to a certain extent, we need to see strong fundamentals and as you point out rightfully we have got them. we have seen decent job numbers, housing doing well. but we need to see this continue, we are growing at an underlying rate of about 2%, we need to see numbers that are consistent to keep the market propped up. i think there is that underlining momentum, but there are risks in the short run, no question the sequester is a little bit of a head wind as is higher taxes, payroll taxes, gasoline prices behaving well but they are higher. there are some short run considerations, we need to see good economic data continued to

come in. lori: how-to advice investing around these risks? >> you have two differentiate against bonds. in stocks, think you have to be well diversified. i still like dividend stories but if we see better activity, names could be the way in the second half of the year. we had to be overweight in stocks. lori: thank you, as always. >> thank you. melissa: d.c. employees brace for possible sequester. today's snow-quester is giving everybody the day off. peter barnes at the white house with more. peter: you took my line. snow-quester. i'm kidding. [laughter] it is a snow-quester.

melissa: it is a snow-quester. peter: right now it is kind of a wintry mix. i will just call it yucky. more than a foot of snow in the valley all headed this way, looking at the least eight to 10 inches in the district, the wind kicking up. they are starting to kick up 35 to 40 miles per hour. as a result of all of this, districdistrict government and e federal government just sent all the employees, don't bother coming in. take a listen. >> let me underscore that people should stay home, that is the reason for closing down schools, closing down the government and of course the federal government and that is to get people to stay right where they are. peter: but congress decided not to stay home today, it is actually working, house of

representatives racing to try to get a continuing resolution for the budget that will continue to fund the government after march 27 when the current cr expires. try to wrap it up with a vote by 1:30 and want to get the heck out of town. i don't know how they will get out of town because the flights have been canceled, but it would keep in place for the record the $85 billion in sequester spending cuts that have already kicked in and will cost all the furloughs when everybody comes back in. melissa, laurie. lori: hop on over to the senate listen to the ron paul for lost her. melissa: thank you so much. lori: logging to get the keystone pipeline built through the u.s. we will be joined by rich edson next.

melissa: the death of hugo chavez, which will mean for the energy market. lori: lou dobbs on the record run. does he trust the rally? ahead. the dow climbed another 23 points today. what is going on with gold and silver? gold down slightly, silver climbing ever so slightly. back with more after this. le ann the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing.

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melissa: so canada's minister of natural resources in texas to drum up support for the keystone pipeline. rich edson has more on exclusive interview with mr. oliver. rich: he is doing this push through the midwest starting in chicago this morning and this is to get the keystone pipeline built. we are at an oil refinery in houston, texas, where they clean, distill and enact the complex to distill the crude oil coming from or part of it comes from the tar sands, project the

keystone pipeline will bring from alberta canada down here in texas if it is built. it is under review in the state department, the canadians are pushing to get it built, the unions are getting it built, environmentalists say no way because they say if they kill that pipeline, they can kill the production of that oil all the way up in alberta canada. the natural resources minister says that is not so. >> keystone is one of the projects, but this is not either or. we will move ahead and advocate for principal the pipelines west and east. obviously each individual case subject to approval, but we think it is in our national interest to have infrastructure built so we can bring our access

oil brought to market. rich:a determined they are sure to stress that numerous times in their report it would have no significant impact the keystone pipeline on the environment. is it up for a review process, 45 days for the state department, we expect a final decision on the keystone pipeline sometime in the summer. back to you. melissa: the pressure is on. rich edson, thank you so much. you can catch the full interview tonight on "the willis report" at 6:00 p.m. eastern. let's check the market, nicole petallides on the floor of the new york stock exchange. it is a rough day for a couple of retailers in spite of everything. nicole: it sure is. some names under pressure from american eagle outfitters was certainly the one you can see. the stock down 10.5%, no joke i gave ia david market is hittingn

all-time high. we talk about the traffic they have been seeing, not as much as they had hoped. expected same-store sales to fall in the mid-single digit percentage range. jcpenney sending losses to a new multiyear low for jcpenney still in the thick of the battle with macy's, talking about obviously a management team under scrutiny. and also, citigroup cut the retailers and lowered the price target to $15 from 22. back to you. melissa: thank you so much. lori: apple ceo tim cook has not forgotten about dre. the company considering the streaming service with the rap mogul himself. shibani joshi has more. >> why build it from scratch you

can team up with a music mogul in somebody who knows a whole lot more about changing the industry as a whole. that is something apple is looking at doing. the report is showing tim cook, the ceo of apple, thinking about maybe teaming up with jimmy i mean, the beats ceo and with hip-hop mogul dr. dre. they teamed up, the three teamed up discussing the launch of the new music streaming service. the code name is project daisy and they spoke about the rollout in the business model and a private meeting i in the month f february. they believe there is an opportunity out there in the streaming music business for someone who knows about business and he wants to shake it all up because up until now it really has been data-driven and algorithm driven.

google and apple are trying to figure out how they're going to jump into the streaming music spot. beats and dr. dre changed the headphone games having us throughout the existing headphones that come with our listening device getting us to shell out a lot of money so they obviously know something about doing something new and creating a brand-new business. lori: all i know is my kids are ahead of the game, i really have to catch up with things. thank you. fox business market phase in the dobbs on with what the record run means to him. melissa: finally, good news for drivers. prices dip in the second straight day. analyst thinks this is just the beginning. that is just ahead. friday night, buddy.

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>> 21 minutes past the hour, this is your fox news minute. south korea's military said it attacked north korea, it will strike back. as the u.n. prepares to sanction

north korea for the february nuclear test, north korea has threatened military action against the u.s. and south korea. even vowing to cancel in 1953 korean war cease-fire. russia conducted the largest nuclear army drill in 20 years. russia's nuclear forces tested transport of strategic and tactical nuclear weapons between february 17 and 21st. while the sides of the drills raised u.s. concerns, pentagon spokesperson called the test a routine exercise. and john brennan closer to becoming the next director of the cia. voting 12-3 to confirm rendon at the white house released memos on the secret drone program. the full senate can confirm as early as tomorrow. those are your headlines, now back to melissa and lori. lori: thank you so much. melissa: disney shareholders rejecting a proposal to separate the chairman and ceo, keeping bob iger in control.

reelecting iger and nine other board members. this was after hitting a 52-week high earlier today. lori: just a follow-up on another news alert. well, john brennan may not be as confirmed as soon as we got it o cut this man, senator rand paul of kentucky has been on the floor for ou an hour now to a gd old-fashioned filibuster in protest of the nomination of john brennan at the head of the cei. why? because of the president's position on drone strike on american soil. we will keep you posted on how long the senator keeps this filibuster going. melissa: it could be a while. enthusiasm with the dow running higher after new record close topping the previous settlement high back in october 92007. there are some key differences between today and the previous peak. the national debt was just over

$9 trillion in 2007, now it is 16.6 trillion. gross domestic product grew at 5.1% in october of 2007 from the prior four quarters. gdp stands at 2.2%. and the last time the dow hit a record high, and unemployment was 4.7%, it is now 7.9%, of course. median u.s. postal income 6% for 2007 levels of 54,623. let's put a rally in perspective. it is time for lou dobbs now. >> i am honored, i like it. melissa: what do you think the key difference is looking at the economy, our debt, what we have spent. >> i think the key difference is an economy that was healthy.

moving forward, but what we didn't know, massachusetts but all of those numbers, we're in the midst of the largest housing bubble. a few people warned us as to what would happen, but that was a bubble. if you look at the numbers you just went through, what in the world has this, if not a bubble? looking at unemployment raging high. it is interesting, 4.7% unemployment rate then, the fed wants to get it down to just two points above that and back off the quantitative easing, and declare victory, as he said. it is a peculiar time, but strong earnings on the other end as our friends in the economist always say on the other hand. but this is a difficult peak to expect to persist.

lori: is it fair to think mainstream isn't celebrating a milestone because the disconnect we are talking about? >> that is one of the reasons, certainly. and we're seeing some really pessimistic viewpoint coming out of these polls people talk about the don't expect much in the way of economic growth or return to prosperity anytime soon. but there are also some big numbers to consider, and we are talking about having recovered $11.3 trillion in wealth, in market cap over the course of time since october 92007. that is a big deal. inversely a third of that is the federal reserve stimulating the economy. assets have grown wildly to 3 trillion. much more than that by the end of the year because we're in the midst of another bond purchase program.

melissa: that is the biggest difference when we look at those stats, the fed's balance sheet was under a trillion dollars, it is now over $3 trillion in a lot of evil are now starting to ask the question when unemployment falls and they start to exit the market, what is the impact of that, does everything collapse at that point? what are the taxpayers left with, how does that happen? >> the taxpayers will not be left with the bill as a result. but they will be left with an economy that is just surging with money supply. as a result, we are not likely to see the fed gets too worried about the effects. when you look at 6.5% unemployment, if we get to that point, we will see housing continue its rebound, and all of that money absorbed a stimulus effect. i am staggered by the number of

those in the mainstream media who are not draw a correlation between $85 billion per month in fed stimulus in this whaling of teeth, the phony nonsense. $44 billion over the course of the remaining seven months. melissa: this has been the conversation lately, that is a paper loss at the very least. it is being batted about in the papers. >> arguably as we look at lower prices for those assets, we're also looking at higher tax receipts because presumably when they are moving into the market they will be talking about a growing economy. the offsets are significant. bernanke comes out on the positive side. i know there are a bunch of

people who hate the bed and hate open-market operations and think we can do all sorts of things differently. and they would be right, but the reality is that nonsense has to stop around the fed. had the fed not been into this economy, god knows where we would be because the fiscal policy managers are completely inadequate. and the monetary policy is in the hands of adults. >>melissa: you can see lou dobbs every night, but even more spectacularly tonight you can see him with senator rand paul. degrees of fabulousness. i'm not entirely sure h he will finish up. speaker that is part of the

drama, part of a suspense that is washington. we have a lot of drama in washington. lori: could you actually become part of the sequestered, pithy answer your questions, could you be part of the filibuster? >> i would be honored. i'm not quite sure what the rules are. melissa: thank you so much. >> we will work on that. melissa: who will be the next to lead in venezuela, something the energy market has an ion next. lori: here's a look at the leaders and the laggers on the dow jones industrial average.

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lori: okay, stocks now as we do every 15. back to the floor of the new york stock exchange to check in with nicole petallides. dow is off the best levels of the day but hanging on to record terror -- territory, nonetheless. >> we want to look at the dow and big blue so heavily weighted in the dow jones industrials. they got up to 14,20 off the lows, bear market lows of march 2009, when we were at 7500. 7547 at the closing low. -- 6547. we're looking at ibm so obviously heavily weighted in the dow. over that time, that lapsed from 2009 to this period it accounted for almost 1,000 dow points, 940 something points, right, exactly. and obviously a big, big contributor in its gain of

almost 150% since that time. back to you. lori: good perspective. thanks for that, nicole. >> so thousands gathering in venezuela following the death of president hugo chavez. so what is next for the country? what will the impact be on the crucial oil supply? joining me is michael economides, a professor at the university of houston. thank you so much for joining us. give me your immediate reaction. what do you think happens from here? >> i am in uncharted territory. this is a macabre thing on television to talk about somebody's death. this is what i've been doing all morning. melissa: i mean, you have to wonder what happens, you know, if nicholas maduro, for example is able to step in the fold and still maintain control of the country. or if it breaks down from there. as we look at exports out of venezuela, they had been running even lighter, production even lighter, at this point a lot of people believe you need, you know, sort of a back to basics in

terms of the oil industry. it is unclear that you will get that with that candidate. what do you think? >> all these things are legitimate concerns. look, chavez had both the ideology and the charisma, okay? maduro doesn't. he doesn't have, probably either one of those two. the venezuelan production is in dire straits. that is nothing knew new. it started a decade ago after the big strike from pdvsa. what will happen, it will deteriorate. infrastructure of oil is in terrible conditions. emerging oil production in the united states is bound to affect venezuelan economy because that will be the obvious oil to be displaced from our market in the united states. so i mean, the whole thing doesn't bode well for the

success, successor of hugo chavez especially if the guy doesn't have the charisma that chavez has got. melissa: do you think price of oil will go higher? >> yes and no. i expect it to go higher for other reasons. certainly the situation in venezuela will not help the price of oil. in other words will not put any downward trend toward the price of oil. melissa: we're looking at a chart today. crude futures are ink s.ing right now by better than 1%. a lot of that has to do with the fact that event in particular was expected. he had been sick for a long time. it was more than a two year-battle. what it really means for the long term price of oil what a lot of people are looking at. they're supposed to have the biggest oil reserves or the second biggest oil reserves, depending whose report you believe. if they're unable to get organized and get that out of the ground to allow outside investment, in the long run it does hurt world oil supply, right? >> for sure. the petroleum infrastructure

in venezuela has deteriorated dramatically under chavez. the people involved in the oil industry, they lost something like 30,000 skilled people in the fight against chavez. that was a major strike in the decade ago. need them in the middle of nowhere in siberia. there are 100 venezuelans working in a place nobody ever heard of. in other words you get the situation, venezuela, if in fact in major, major crisis. melissa: michael, thanks so much for coming on. >> thank you. lori: martin scorsese and leonardo dicaprio teaming up in a new movie about wall street's notorious stock swindler, jordan bell fore. charlie gasparino on whether or not the man behind the film will earn a penny.

melissa: look at 10 and 30-year as we move out to break. moving higher by ten basis points. we'll show you the 30-year. we'll be right back.

>> hi, everyone, i'm diane macedo with your fox business brief. oil prices could soar as high as $270 a barrel by 2020 according to the oecd as demand, as demand in emerging markets like india

and china outpace the expected supply. the organization says the expected climb in oil prices will likely be a volatile one with sudden changes in supply and demand having large effects in the short term. shares of trulia and zillow are up jumping after good news from the mortgage bankers association. mortgage applications jumped 15% last week. they are testing a pilot for a original children's series, sara solves it. it was 12 pilots for the streaming service. your votes will determine which shows amazon will back for production. that's the latest from the fox business network, giving you the power to prosper

lori: well the notorious stock swindler jordan bell for the might make money from the upcoming movie,

"wolf on wall street" which recalls his career as white-collar crime but will he keep any of it? charlie gasparino is here. >> this movie is directed by martin scorsese. leonardo dicaprio is playing lead role of jordan bell for the. he ran a company called the company, and i was covering the company at "the wall street journal." steve madden, the shoe guy was involved at one point. he has a small role in this film. here is the interesting thing, belforte wrote a book called, the wolf of wall street. i heard it sold fairly well. he optioned the book to scorsese to produce and direct the movie. the question is, does he get to keep any of that money or any of the, any of the money that the movie makes? you get something like 5% of royalties after you're paid out, after, say he gets $500,000 up front. he gets 5% of the royalties. here is basically whether i

what we know. i want to emphasize to the audience. this story is kind of fluid i really have to get the justice department to walk me through some of the numbers. i went into their database. this is what i found. he owes restitution to the victims of the stratton and people essentially cold called and sold phony stocks, fraudulent stocks, many of them. a few weren't. but he owes them $110 million. he, now he has been, that was part of a plea deal that was struck in 1998. he was, he was also convicted of stock fraud. he sentence included four years in jail. and this massive restitution, along with his partner who also has to pay massive restitution. my only caution here i want to say, the number might be bigger than 110 million. it might be 210 million. i have to check the dockets. it is written a little funky. i don't think this guy will keep any of it under the agreement. there is formula.

he has to pay back 50% of his salary for, until this thing is, until this thing is done, this 110 million is done. which means he will be paying in perpetuity probably. a lot of the money he will get from this won't be able, he won't be able to keep. so that is where we are. melissa: what is that after tax? can you imagine? >> who knows. i don't know. that is a good question for his tack attorney. melissa: getting really close to zero. >> that is interesting. maybe there is way to structure it. why are we doing the story? this will be a big movie when it comes out. big splash with dicaprio. i can tell you wall street is buzzing about this. i ran into a guy named mark hannah. ran into him at a restaurant in brooklyn. he has, matthew mcconaughey plays mark hanna in the movie. mark hannah was a major player at stratton oakmont. he served time in jail. people are talking about it on twitter and social media and wall street. when this firm was running, in existence, it was a huge

firm. they had a football field like brokerage department where people were cold calling every day. and i could tell you, in the 1990s the boom of the 1990s right before the nasdaq crash, the markets were epitomized by firms like this. boiler rooms, bucket shops. guys that made a lot of money. here he is. from what i understand belforte is like, a trains stockbrokers in australia. someone sent me the notice of what he is doing now. melissa: interesting. >> through his attorney he has no comment. lori: thank you, sir. melissa: so it is quarter to. as we do every 15 minutes let's check the markets. nicole petallides is on the floor of the new york stock exchange. you're watching best buy on this busy day? >> i sure am. take a look at best buy. we're at 14,300 on the dow jones industrials. here is best buy. not a dow component, but certainly still a winner a la what we're seeing today. best buy is up.8%. a couple of things to note. they did have the last quarter was a great one.

we heard from jeffries today. put it to a buy. raised the price target. now at $24, up from $13. so obviously the outlook too is looking better than expected. back to you. melissa: nicole, thanks so much. lori: so oil prices are under pressure. we're heading to the trading pits of the cme to find out next. melissa: over half the country is paying less for gas than they did this time last year. tom kloza on why he thinks the trend will continue. that's ahead. look at some of today's winners and losers here as we head out to break. we'll be right back

lori: oil prices falling below the $90 a barrel mark as the latest inventory numbers show crude supplies rose more than expected. fox business contributor phil flynn of prize fightures

group in the pits of the cme joins us. phil, how did that build happen? >> lori, we're swimming in oil, let me tell you. this is the most amount of oil we've had on supply in the end of february, maybe ever or back at least 81 years, 1931. why is that happening? let me tell you, lori, u.s. production, it is surging right now. it is surging at a time when refiners are getting ready to slow things down a bit. we saw very low crude runs last week. that is kind of to be the expected because this is the shoulder season. we're getting into the area where demand is at the weakest level and prices go up. what does that mean for prices, we're below $90 a barrel? what does it mean for gasoline prices? good news. they're down as well. we're seeing pressure on rbob futures, down 3.67 soents a gallon. we'll see that show up at your pump very soon. heating oil is down. this is amazing happening in the aftermath of the demise

of hugo chavez. who would have thought of a leader of such amount of oil of proven reserves in the market, would not rally after his death. amazing. shows his legacy. back to you. lori: they're feisty there, more so than usual, phil. thank you. >> thank you. melissa: finally good news for drivers at the pump after february gas prices hit the highest level on record. they're inching down in march. in fact more than half of the country ising less for gas than they did this time last year with average savings of 3 cents a gallon. our next guests sees that continuing. tom kloza is chief oil analyst. he joins me on the phone. you hopped on the phone after we got word of hugo chavez's death. thank you for that. are you surprised we're not seeing more of a rally today based on what happened? go ahead. >> i'm not surprised actually. i think one. big things to watch is the strength in the dollar. the dollar is on the verge of what some people might

call a technical breakout. oil tends to move lower when the dollar is very strong. i do think however when you take the very strong macroeconomic background right now and the news about chavez and you see prices off as much as they are that it shows you that the mood of the market, the money mood in particular, has really softened and people are afraid of one of these givebacks. we're in progress right now. melissa: yeah. there is so much, we're looking at a chart right now. there is so much downward pressure on oil futures right now. that's got to translate to prices at the pump going lower, although there are some out there that think as the chavez thing sinks in that might put a floor under it, but you disagree with it? >> i would disagree chavez having a big impact on it unless we see revolution in the streets and labor strikes in venezuela. however i think march, it will be a real good march for consumers here. obviously look at 401(k)s it is good news. gasoline prices in portions

of the country will be 20 to 30 cents last year, below last year because march last year saw an incredible increase. the problem is, i think when you get into april and may this might be like jason in friday the 13th or a little like phil flynn, actually, and might resurface at any particular moment. melissa: what do you think would spark that if we saw it bounce back? we have seasonal switchover as well to the summer blend of fuel. >> we're probably halfway or little bit more through the refinery maintenance season and sometimes things happen with refineries. i think in the midwest if you circle within 800 miles of chicago, that's going to be a hot spot because we're going to have two of the largest refineries in north america will be down for turn around and not be producing much gasoline in april. so watch out for that. melissa: why do you think, phil flynn was telling us about the glut in crude on the market. he wfk got the inventory data earlier today showed a

even bigger surprising build than we thought it would be, what do you think is behind that? is it low demand for gasoline or what is behind that. >> no. i think what was behind that, that we had refineries going down for maintenance that we didn't think were going down and ones coming up didn't make it in the report. that means crude oil stocks are build. one of the things that will be interesting the next few weeks or next few months we'll get it a point here i think for the first time in many generations where crude oil production in the u.s. is going to surpass crude oil imports. almost got there this week but not quite. melissa: all right, tom kloza, thanks so much. >> take care. melissa: coming up tonight on "money", we'll have a executive debate with white castle vice president jamie richardson and speck electronics corporation john cooper whether minimum wage hikes would hut their bottom line. that is 5:00 p.m. eastern here on fox. lori: white castle the hamburger company? melissa: that's right. they deal with the minimum wage.

there is a huge push to raise it or will it hurt the economy by increasing unemployment. lori: as they lay off workers because they can't afford it. melissa: exactly. lori: google shares with all-time high. 844 a share. how much more boom for google shares to run? tracy byrnes and ashley webster for search for answers for google's top. next hour here on fox business. friday night, buddy.

you are goa need a wingman. and cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com.

[ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. tracy: hey, good afternoon, i'm tracy byrnes. >> and i'm ashley webster. well the rally continues. stocks are trading higher after a day after the dow closes at annual high. one investor is warning people not to get in right now. tracy: snow day in d.c. this cracks me up like they have never seen snow before. the nation's capitol is shut down after the federal government is talking about massive spending cuts and employees are getting paid

day off. ashley: can't even see any snow. google shares trading near an all-time high but let's go to peter barnes with the latest beige book. peter? >> ashley, that's right. the latest beige book from the federal reserve economic activity generally expanded at a modest to moderate pace. same language at last time. this is the beige book that fomc members will use when they are starting to look at any possible policy changes at their meeting coming up in two weeks from now but there is nothing in here that would really suggest they would alter course and pull back on any of the stimulus, the quantitative easing they have been doing, the bond purchases. other nuggets from the beige book, quote, most districts reported expansion in consumer spending although retail sales slowed in several districts. gas prices and fiscal policy had a negative effect in a few districts according to the beige book. also says manufacturing, modestly improved in most regions with several

district reporting strong demand from the auto, food and residential construction industries. the majority of the districts reported modest improvements in labor market conditions and also one final thing, interesting here, contacts in several districts reported a shift in sales activity from local malls to the internet and indicated that deep discounting among retailers was becoming increasingly common. back to you. tracy: is it raining, peter? what is with the hood? >> yeah. it still, we have what the weathercast terse like to call, what, a, a weatherry mix. just call it yucky. rain, snow, it is yucky. i'm going back to the end into the briefing room. tracy: go. ashley: peter barnes, looking good. all right the dow is on track to close at another high. let's go to nicole petallides on the floor of the new york stock exchange up 43 points, nicole.

>> the meteorologists taken down the term, yucky and made note. let's take a look here what is going on with these markets. this is a time for celebration for all the bulls out there. the 401(k)s, your iras all-time highs again today, tacking on to yesterday's gains. right now the dow jones industrials are up one-third of 1%. that is a gain of 43 points. you can see certainly that move there, the nasdaq many composite is virtually flat and the s&p 500 is up .1 of 1%, sitting at 1542. that too, by the way, nasdaq and s&p also hit multiyear highs. not all-time highs like the dow. we want to look at the s&p over time. when you're talking about the s&p you're seeing names certainly helping it like first solar, trip advisor and prepare freeport-mcmoran. texas roadhouse and news corp, parent of fox business network.

disney would be another. multiyear highs on some dow components. that would include boeing, general electric, american express, johnson & johnson, chevron. there are a lot of names in the green and google hitting an all-time high as well. back to you. ashley: very good, nicole. thank you very much. we have some breaking news. the house passing a continuing resolution. this would fund the government through the end of september. of course the current resolution would run out on march 27th. with the vote finished the house is taking the rest of the week off. the gop bill now moves onto the senate. but until a cr passes in both of houses of congress the government is expected to run out of money on march 27th. the debate will get a lot more interesting in the senate on extending the cr. there you go. tracy: we continue to kick the can. ashley: yep. tracy: all right then. get back to the markets. building on yesterday's record but our next guest warns history has taught us nothing because investors continue to buy high and sell low. joining us, dominick tavella, founder and president of diversified financial

consultants. i'm so glad you're here, you've been known around here to be the voice of reason. you know we just heard that the fed will keep pumping money. >> that's true. tracy: market is probably going to keep going but at the same time irworried we might pull back a little bit. >> let's spend ten seconds in 2012. s&p ends up with one of the best years ever, up 16%. average investor typically buys investments through equity mutual funds, etfs, they sold out $280 billion of equity out of their portfolios. so every single month in 2012, as the market, and we had some volatility obviously, right? as the market is getting higher, instead of buying low and selling high, they were selling out. so we had a complete 12 months --. tracy: put it in bonds no less. >> bond funds. going from something doing well to something that historically is going to go lower, right? so we get to january 1st of this year, january of this year, we've had a tremendous

2012. what does the average investor do? $77 billion comes into equity fund and etfs. just amazing tracy. we watch it year after year. sell high, buy low. sell low, --. tracy: what do we do though? like i'm sitting home, there are some people home still not in this market. should they get in now? >> well, look, i hate to give generic advice but if you've been sitting out of this market this whole time since 2008, shame on you. you've missed one of the greatest pull, i've been doing this for 30 years, this is one of the greatest bull markets we've seen in a long time. you need to start easing your way into these markets. we all know, tracy, some news will come out. it will be europe, something out of washington and we'll get a dip. it might be a 5% correction. 10% correction. you need to take some of the dollars and allocating them into a properly balanced portfolio. if been in it bottom this

whole time, maybe time you take a little money off the table park it on the sidelines. tracy: you've been taking a little output putting into cash? >> last week we raised a little cash, in december, again a little bit in january, little bit in february. we had a client come in yesterday. dom, i don't understand why you're selling as the market keeps going higher. here's a concept. sell high, buy low. tracy: are you taking money you created putting it on side for next buying opportunity? >> absolutely. we want to be fully invested in a properly balanced portfolio. they will have equity exposure. but when these things get a little bit ahead of themselves and most analysts believe this market has gotten a little bit ahead of itself, park a little profit on the sidelines. put them in cash money market. i know it is not making anything. you're trying to protect the portfolio from downside risk. when that inevitable something will happen, take the five, 10%, put it back to work. tracy: where are you putting it? what kind of sectors do you look at? >> i believe if we get

through this first, second quarter, i think equities will have a strong third and fourth quarter. i do believe the market could be higher on december than it is today. but we're going to get volatility. it's inevitable. so i do think equities is the right place to be, 30, fourth quarter of this year. if you get those buying opportunities, you have to got to grab them. tracy: a lot of people say the banks and finance sector might be the place to go. >> we try to stay away from individual companies or individual sectors. we are more of an asset allocation play. but certainly financials, assuming this recovery continues, it going to have to be a participant in that. some of the things that we've seen in the past that really have rallied, maybe it is time to take some of those profits off the table. tracy: dominick tavella, our voice of reason. thanks for being here. >> have a great day. tracy: diversified financial consultants founder and president. thank you. ashley: good stuff. the death of venezuela's president hugo chavez could have had a big impact on the oil market and energy stocks. we're continuing to monitor that. oil is falling below 90

bucks a barrel. sandra smith will have details in today's trade. tracy: canada lobbying for the controversial keystone pipeline built for the u.s. our rich edson has an exclusive interview next. first as we do every day this time of day let's look how oil is trading. ashley mentioned it fell below $90 a barrel. it is back slightly above 90. we're looking at the metals now. gold up $3. silver up, copper down. we're be right back. ♪ [ male announcer ] howould switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections

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ashley: investors watching a number of stocks today, following the death of venezuelan president hugo chavez from oil of course to energy stocks. sandra smith has the markets reaction in today's trade. sandra. >> well there has been a reaction. we're 19 minutes away from the close of oil trading here in new york, the pit session at least. prices are still down but back above $90 a barrel.

we saw an immediate reaction to the news of hugo chavez's death but it was somewhat muted and on light volume. crude oil prices down to $90.14 a barrel, down 68 cents today. we got a bearish inventory report this morning from the government. that is weighing on prices as well. it is hard to tell specific what the chavez reaction is in the market. look at big oil stocks, exxon and chevron to give you idea of mixed reaction. exxon is lower. chevron is higher. more specifically look at some oil etfs, when this news broke yesterday we saw some reaction in the after-hours markets to some big oil etfs including uso, uco and oil. the they are down more than a percent right now. there are some select stocks you want to look at that have exposure to venezuela. harvest natural, hnr, is one of those. it is petroleum exploration and production company. it does have significant exposure in venezuela. it is right now trading to

the upside. it had dropped on the open. so important to note that we are seeing some of these stocks turn around. also take note, some of those big household names we all know, colgate-palmolive for one of them, ticker cl on that. it reported it would take a significant loss in the first quarter because of the currency devaluation happening in venezuela, about 34% devaluation. something to keep in mind when venezuela is in the news like this, guys. it does affect a lot of stocks and obviously the commodities markets as well. tracy, ashley, one thing, when i talk to everybody out there in the oil market, they say this could be longer term reaction. we have those electionsing up in 30 days so something to watch. ashley: thank you, sandra, very much. >> thank you. ashley: seems working from home falling out of favor. a week after yahoo! ceo marisa meyer put a stop to employees working from home, best buy is putting limits on its flexible work program. now that program which has been in place since 2005 let

the company's 4,000 corporate workers make their own flexable schedules. employees were evaluated solely on performance, not time worked and office attendance but now those workers will have to get their manager's permission to work from home. so it's again somewhat of a trend we're seeing we want you in the office, which is some would say 1980s in this technological world. tracy: yes. although i think best buy trying to get all hands on deck to get it together. marisa meyer, you and i didn't talk about it. she is bananas. ashley: she up a lot of people and seems very against trend to say the least. tracy: often times i think it happens when a woman is in power she tries so hard to go the other way. ashley: she does. has privileges of being head honcho a lot of underlings, employees do not have. tracy: i would be an underling. i would not be happy under der link. >> no you wouldn't. tracy: it is quarter past

the hour. time to get a check on the market. nicole petallides on floor of the new york stock exchange where we go every 15 minutes. hey, nicole. >> tracy, ashley i want to look at office retailers, staples, office depot, officemax. a stories revolving around the three names. start off with staples by itself, down nearly 7% today. their quarterly numbers for the fourth quarter revenue coming in missing analyst estimates. they forecast weak earnings. their corporate customers, their other shoppers, just not seeing sales that they had been seeing and those people are cutting back on the items that they are buying. as a result, you are seeing a it down today. however still remains to the upside. for the year, this year, 2013 which it is up 16 1/2%. at the same time while we're talking about their forecast trailing the analyst estimates wanted to also take a look here at both office depot and officemax which are in the middle of getting ready it merge as well. you can see both of these names being hit because the

truth of the matter is, the trend is probably the trend for the entire group. staples is the no seeing corporate buyers and regular customers getting in there. office depot and officemax probably aren't. that is the theory behind the selloff. back to you. >> good theory. nicole, see you in 15 minutes. will the push for the keystone pipeline is getting more serious as the canadian minister of natural resources visits a refinery. we'll hear from him exclusively. ashley: let's look how the dollar is moving right now. as you can see the dollar is stronger pause all the foreign currencies against the u.s. dollar are lower. check out the euro. it us cheap to go to paris and getting cheaper to go to london. get packing. we'll be right back. this is $100,000.

we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your ban take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally.

>> at 20 minutes past the hour i'm patti ann brown with your fox news minute. the day after hugo chavez's death, venezuela is being run by his hand-picked successor, vice president nicholas maduro is leading the country at least for now as the interim president. he will be the socialist party's candidate for an election called in the next 30 days. south korean's military says if attacked by

north korea it will strike back and target top leadership in pongyang as the u.n. lance to sanction north korea. they have threatened military action against the u.s. and south korea even vowing to cancel the 1953 korean war sees fire. one million syrians have fled the country during the two year civil war. half of the refugees are children under the age 11. the u.n. reports more than 70,000 were killed and two million syrians were displaced within the country. those are the headlines, back to tracy and ashley. >> not good news. thank you very much. canadian officials tour the gulf coast lobbying for the xcel pipeline. we have the canada oil minister, joe oliver. he joins us with more. hey, rich. >> we're in a refining facility in houston, texas. a little tour for the

canadian natural resources minister trying to get the keystone pipeline built. they already refine a number of products from canadian heavy crude oil. they're hoping to expand that with the construction here of the keystone pipeline. so we spoke with the natural resources minister. we talked to him a bit about the environmental opposition to this. that if you can kill the keystone pipeline they say you can kill the development of that tar sands oil up in alberta, canada. what the canadians are saying they will find a way anyway to get their product to the market. >> it is very important for canada as a strategic matter to build the infrastructure, the pipelines, to move our

possibility of a congressional vote on breaking up large banks. joining me now is codirector of aei program on financial policy studies, peter wallison. peter, thanks for joining us. >> pleasure to be here. ashley: you don't like the idea of banking up big banks. why is that? >> well, i don't know that i don't like the idea. i do think that it has not been fully considered, even though many well-known people, one much them at the fed and another at the head of the dallas fed have been

breaking up big banks. i don't think we given that enough consideration. these large banks are quite important to large corporations especially operating internationally. if we were to break them up, we would make it very difficult i think for those corporations to function. ashley: well the critics will argue that because they're so big, and because of the perhaps inferred back up of the government that they're able to borrow at lower costs and therefore are getting more of a market share at the expense of the medium-sized and smaller banks? >> i don't disagree with that at all. i think it's probably true. we really should have some thorough study of that issue. i think there's a lot out there which indicates that is true. however, if we're just talking about they're having some financial benefits, because they're too big to fail, we can extract those benefits. you can tax away those benefits. you can increase their

insurance premiums for deposit insurance. you can increase their capital. there are lots of things you can do to reduce financial benefit. the real underlying reason i think, that people are, seeking to break up these banks, is that they fear that these banks are too big to fail in the sense that they will bring undo the economy if they fail. that's a completely different issue and one that i think is serious and one that should be considered, but i don't think that in the end, those banks, if one or two of them failed, would have that affect. ashley: talking about effects, what of dodd-frank? then we have bassal three. these are intended to put more strength on banks. bass sill 3. coulded backlash of that particular approach that the banks start to streamline? they start to let go of employees? do the benefits outweigh the

costs? >> it is hard to say. banks are highly competitive with one another. if banks are put in position they have to increase their costs they would not eastern as much as they need to earn in order to get the capital that they are told they have have to increase. so, one of the ways that banks increase their capital, if they can't sell shares, or they can't sell them at a price that is sensible to them, is to stop lending or at least reduce their lending and i don't think we want that to happen in this economy right now. it would not be good policy to do that. ashley: quickly, peter, it is interesting, there is some bipartisan support for a bill out there that would you know, tackle this particular issue with the big ungs ba. do you think that there's a chance that we could see the actual breaking up of these large financial institutions? >> well i would say there's a chance. i do think it won't happen.

but there are quite a few people in congress who are willing to consider this and one of the reasons for that is that they do not want to look as though they are supporting the big banks. so i think it's the kind of thing where people would prefer not to think of something quite as drastic as this, but politically, they feel driven to it. so i'm worried about it from that point of view. we ought to have a lot more study of this issue before we consider it. ashley: very good. peter wallison. thanks so much for joining us. we appreciate it. >> pleasure, thank you. tracy: we have a news alert for you. senator rand paul of kentucky has been on the floor for nearly two hours. doing an old-fashioned filibuster, protesting the nomination of john brennan as the head of the cia. because of the president's position on drone strikes on american soil. we're going to keep you posted on how long the senator keeps this filibuster going. they have been known to go

for hours. ashley: he brought his toothbrush and overnight clothing. watch out. tracy: pizza is coming too for him. the threat of a snowstorm in washington, d.c., it meant a shutdown of government offices but not having the same effect on government spending. at this point there is actually no snow. we'll have details on "snowqester" next. ashley: as we head to the break, we'll look at some of the day's winners and losers on the s&p 500. johnson controls, first solar moving higher. we'll be right back. friday night, buddy.

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. tracy: have passed away. let's take a look at the dow 30.

let's head down to the floor of the new york stock exchange where nicole petallides is standing by. nicole: i am with mr. willis. another set of all-time highs. give traitor your thoughts. where do we stand at this point petallides i think for main street america, the people that are watching fox business right now -- i think the u.s. treasuries will be a very dangerous place for people to be. gold has not performed well recently.

nicole: i think a lot of people do not even plan on retirement. what do you say to the people who think the momentum remains on the upside? >> i would love to see this bowl take a break. it has had a hell of a run over the last 60 days. we need to have a pullback. nicole: okay. a little breather. back to you. tracy: thank you both. we will see you back in 15 minutes so you can take a breather. ashley: the storm shutting down our nations capital. we do not know why it has shut down d.c., but it has dropped a lot of snow on chicago. jeff flock is in chicago for us. jeff: a little snow and ice is not going to shut down chicago.

this cold and icy tundra is just a stones throw from from the downtown of chicago. a little bit of a pullback. yesterday, thanks to the storm and cold, you got to it highest level last week. natural gas would be a long-term play. take a look at why. if you look at the five-year chart on things, for example, gold. that commodity is near or at its highest level it has been over the course of time. same thing for the agricultural commodities. if you take a look at the five-year chart of natural gas, you see just the complete inverse.

natural gas may be nothing. i know it is pretty abundant right now with all the fracking that is going on. planning on natural gas vehicles in the very near future. i like natural gas. i was also like to be in front of something that was fired by natural gas right now. it is cold. tracy: it looks like antarctica. ashley: u.s. oil features marching back. tracy: we are making a little bit of fun, but the threat of a winter storm has closed offices in our nation's capital today.

government workers are still getting a paid date off. gerri willis is here to tell us something we already know. [ laughter ] gerri: you would think that with sequestration, people would be thinking about cutting back spending. recall that the hearing with janet napolitano who told us that the airports would be full of long lines. we did not see that. let me tell you about some numbers here. the federal government is hiring 400 people right now. as of monday, 6:00 p.m., the start of sequestration, they are out there trying to find 400 people.

[talking over each other] gerri: in case you were wondering, that $85 billion, it will be $44 billion. it is not even that amount of money. we are collecting more taxes than ever before. 2.7 trillion up 11% from last year. $2.7 trillion. the government will not go hungry, my friend. ashley: it never does. gerri: can i mentioned the new uniforms that the tsa is getting? they ordered new uniforms. i am shocked by this. the spending is continuing. they are gathering momentum. [talking over each other] tracy: gerri, what you have going on tonight?

gerri: we will talking about these issues and also the market. we will have some financial advisors on. tracy: 6:00 p.m. and 9:00 p.m. tonight. ashley: google shares pulling back after hitting a new all-time high today. we will hear from an analyst who says there is still time to get into google. tracy: as we head out to break, let's take a look at your ten and 30 year treasuries. we will be right back.t ♪ it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses.

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>> i am lori rothman with your fox business brief. walt disney shareholders rejected a proposal. the company annual meeting shareholders reelected ten board members. the nasdaq is teaming up with small trading platform to form a marketplace of unlisted companies. the new venture is expected to launch their cheer. general motors is slimming down. chief investment officer says it will cut the weight of the model

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ashley: google trading near a record high and there is still more room next to the top. that is according to my next guest. you have a pretty generous price target for google. >> look at our price target of $870. i think there is still more upside. the stock has had a very nice run. i think there is still an opportunity for google shares to go even higher. ashley: these big part of this is the weakness of apple recently has led to investors looking elsewhere and google is benefiting from that?

>> i definitely think you are seeing a shift out of apple into google. i would also argue that amazon, ebay and facebook are benefiting from that shift as well. ashley: you could argue, i guess, that the future of google lies in the eyes of ad revenue, right? how are they set for the future? >> independent of this shift in portfolio management that is going on, google to its credit has manage this transition to a mobile internet from a desktop / laptop one gary well. as long as the dollar doesn't strengthen significantly against the euro, that data should be favorable.

ashley: 12 months at two thirds into their 18 month plan on motorola. was this a good acquisition or was this on retrospect not so good? >> most of the acquisitions they made was playing offense rather than defense. if you think of youtube, double-click, there are other acquisitions. they needed to protect the android system. they needed that intellectual property they could get for motorola. now you can argue that they need to have motorola, once again, as a reasonably strong handset manufacturer. it was primarily for intellectual property. i think there are other benefits for them in acquiring motorola availability. ashley: the google glass. this is getting a lot of play on the internet. could this be a game changer for

google? >> it certainly is generating a bunch of buzz. they make it look like a cool product. you have to win a contest to get a pair. there is a lot of things going on. ashley: thank you. we appreciate it. >> my pleasure. tracy: i have to get those glasses. ashley: i know. i want to test them. tracy: it is a quarter till. nicole petallides still on the floor of the new york stock exchange. nicole: let's take a look at american eagle. primarily, 18 retailer. hot for some and not hot for others. fourth-quarter earnings came in and line with expectations.

the ceo has noted they will close approximately 15-20 stores in the year 2013. the executives noting that mock traffic has not been as robust as we would like. showing that there are some headwinds, there are concerns going forward. as a result, we are seeing it down over 10.5%. tracy: we will see you at the top of the hour. love may be an obvious reason for getting married and so are your taxes. we will talk about the benefits. ashley: looking at some of today's winners and losers on the nasdaq as we head to break. ♪ tdd#: 1-800-345-2550 there's a few things that i really love--

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tracy: the last time our next guest was here she explained why your taxes may be higher once you get married. we have to find out why. later in life, marriage may actually work out. >> we did see a lot of people who had been living together for a long time decide to get married as they get older. there is unlimited marital deductions.

tracy: the good news, too, basically you had about ten years of uncertainty with state planning. in theory, they are claiming, i guess until they change the laws again, it is permanent. >> that is right. there is a $5 million unified credit. this could be to your kids. there is a fixed amount of $5 million now and indexed for inflation. they can give $10.5 billion to their kids or whoever they want without any estate tax. it does not place out. tracy: the estate tax rate did go out a little, though being

that it did go up a little off but not as high as it had been. it had been as high is 55% and as well as 35%. big deal for people with small businesses, farms, that was a big concern. the concern people had about what will the number be. you do not know when you are going to die. if people were really frozen with should i do something or shown a tie, at least we have that uncertainty. tracy: this stuff up in basis. >> that is huge.

it is considered fair market value at date of death. when you inherited, if you just turn around and sell it, you have no capital gains tax. tracy: somebody with a big stock portfolio, that reason in itself could be a reason to get married. >> even though husband and wife that there is no estate tax, the surviving spouse even get this stuff up. tracy: there are going to be weddings in the nursing home. [ laughter ] tracy: can you imagine? ashley: yes, i can. the history channel. it is thriving on something completely different.

dennis kneale joins those with more. dennis: you call this history? the history channel is breaking in record high ratings on two new dramas. "the bible" and "vikings". it is working. "the bible" bringing and 13 million viewers from its purveyor and "vikings" 6.2 million fans. eat your hearts out. hitting some of the highest numbers in channel history. it is joined by amd that works. disney's stock is up more than 50% in the past year.

the history channels formula for success more and more is leaving history behind. some of its better-known or popular shows include "pawn stars" and "swamp people". tracy: it is a formula that is working, that is for sure. dennis, thank you so much. your dow is up. liz claman is going to take you through the last hour of trading. we have john from emerald wolf. countdown to "the closing bell" is next. don't go anywhere.

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