the banks get ready to reopen tomorrow. we are live in cyprus. adam: president obama said his health law would lower cost, but a new report is another example of how that is just not the case. we will tell you how much mortal cost you and get lou dobbs take and what he thinks this is all about. coming up. melissa: stocks now as we do every 15 minutes, nicole petallides is standing by. nicole, stocks are down, but off of the lows of the day. nicole: absolutely. we have come off of our lows of the earlier day. improving some. the dollar still remains very strong, the euro hit four-month lows, the dow, nasdaq and the s&p still in the red. the retail index, the bank index, transport all to the downside. oil services looking a little bit better. but the big picture as we continue to watch a market that is somewhat tepid and nervous.

we gained over 100 points, gaining some of the defensive sectors leading the way. in pending home sales index up 8.4% since february 2012. keeping an eye on target, last year noted to fox business about the fashion. they like what they are seeing, being received well in canada. the $74 price target, and shares for target are up 1.6%. back to you. adam: thank you very much. the market following europe lower. but if cyprus has taught us anything, it is hard to keep a good market down. that combined with recently priced stocks means if you're keeping the money on your sidelines, you are missing out. joining us now, senior equity manages for wells fargo advisors. can i approach when something really quick? i will take the negative view

here. you actually wrote credit standards are still tough and many homeowners are stuck in properties with mortgages higher than the value of the property. if that is the case, why are you bullish on stocks? seems to me people don't have the money right now. >> that is true, adam. far fewer people underwater on their mortgages and just the general feeling. a lot of the sentiment, you underestimate the power that rising home prices have on consumer spending and confiden confidence. while there are still people upside down on their mortgages, a lot of people that situation has been relieved, has played into stocks, has played into consumer spending. adam: there have been other analysts expect some sort of pull back. you would normally expect a pullback that you could dive in. sit this out and wait for a

pullback of it does not get in now, right? >> i really do. while i would love to see a pullback, a 10% pullback while there is nothing but an opportunity to buy, but these are going to be pretty shallow, we still have a lot of clients who have money on the sideline. we want them to get invested, whether they put a third in now, get something, we have a lot of underinvested retail investors who are our clients and we think over the next couple of years the stock market will continue to move its way higher. adam: a huge about of money has flowed into equities globally, but a lot of that has come into the u.s. market. not necessarily the emerging markets, they seem to be out of favor, why is that? >> there are a couple of things going on.

still plenty of turmoil, a lot of questions over china, do they have a property bubble going to burst, the economy going to stumble and you mentioned cyprus, the european debt crisis is nowhere near over. while the bond market has traditionally been a safe haven and a good bond market rally here today, the stock market is the same. people are counting on modest growth with modest inflation out of the u.s. and that is attractive relative to other people, some money has been flowing in but i think our domestic investors are also slowly starting to put some money to work here. adam: i thought the consumer was strapped it didn't have any money. why are you making that play? >> confidence not only from the consumer but businesses as well as investors will improve as we move through the year. they have been spending money, a

situation i think is going to be improved as the labor market improves and so the consumer discretionary sector over the last 18 months has done pretty well. i think it has more to go with home improvement retail has been on a complete tear. adam: i have a cousin that works at wells fargo advisors, maybe you should be reconsidering that one. >> we were less underweight in financials and that is probably something looking at that and discussing that quite a bit along with our target, it's late upward by her. if you believe the global economic situation the recovery is going to continue, probably financials deserve another look. diversified banks, which are a big portion of financials, those are looking better and we have been recommending some of those. adam: to sum this up, keeping

the cash on the sidelines, you are making a mistake. >melissa: you have to get it to work. melissa: large account holders in the nation's second-largest bank may purchase 80% of their savings drained. capital controls are in place to prevent checks from being cached. our rich edson is in limassol, cyprus, with the latest. rich: we thought the best open yesterday. that didn't happen. because of a central bank governor who jumped the gun and said we will not open all the banks, just a couple of them. that never happened. we have eventually arrived at thursday. tomorrow morning at 8:00, a new set of capital controls. here's a look at them, no checks can be cached immediately within the first week. there are limits on cash amounts that can be taken out and take

it overseas in the limit of credit and debit cards for overseas. supposed to last seven days, but you really never know on this. banks have been closed some 11 days now and it is beginning to slow down commerce. >> they are not supplying without cash. hopefully they will work hard and pushed the economy. opening for sure. companies will go bust. we are okay. rich: another set of questions out as well, how much money is in these banks. you have some reports out now that a large number of foreign account holders had withdrawn money to the lead up of the eu announcement. something officials are investigating and demanding in parliament a list of those who withdrew money and their amounts

after the bank closings happened about 11 days ago. back to you. melissa: rich edson, thank you so much. adam: 80%, that is what is incredible. now, this story, something b+ students will really appreciate. the wave of government downgrades is leading a dent in the bond market. the aaa government bond ratings down 60% of the financial crisis started. the drop is largely a result of the u.s. losing the triple-a rating from standard back in august of 2011 and the analysis highlights the credit ratings around the world. over the past six years the biggest average upward ratings have been in latin america and no surprise, europe saw the biggest downgrades. melissa: don't look now, climbing the past few days, we will talk to one nymex trader.

his adam: will you be one of the privileged few? google announcing the winners of the google glass competition. his melissa: and jcpenney changing the pricing strategy, but will it be enough to turn around the stock price? adam: take a look at metals as we had to break. 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. melissa: you know what that means, tim can't make money with charles payne. this hour he is looking at adding footwear to your portfolio. charles: this stock has been absolutely phenomenal and still wall street hates it. it is interesting, have a chart here, this is other rivals. almost everything is the same. look at the short position.

they happen to think it is a one trick pony. execution has not been great. kind of hard to sell without a little bit of frost in the air. i think they are wrong, obviously. they're really turning around on the global retail strategy. china was up last year, in the meantime some of the things that has held them back, they have gone through the roof. one thing europe might even get better. melissa: you had me until you said that. charles: we have a real winter in the northeast, which one do you think gets better for us? >melissa: when you say one trick pony, the king of the one trick pony. their top line up and the bottom

line has declined. a fair argument for them. in terms of the one trick pony, the same time the company has executed. also lingering is rumors of a takeover for a long time. one thing that you are going to appreciate here. the big question last year in the political arena is a corporation of person. adam: for 100 years. the supreme court said yes, essentially. charles: if you're not sure, go to the website, they will sell you. it goes on and on.

melissa: i love it. adam: thank you, charles. jcpenney plans to raise prices on its own brands and mark them down a little bit later. returning jcpenney to the original price, jcpenney says they hope the strategy will win back lost customers while protecting profit margins. lester jcpenney scaled-back their use of the strategy after ron johnson said only created the illusion, but will it help lift shares? people love a sale. melissa: it is what people expect, the then look at the pre of something and they want to know what is on sale. adam: they have been down and hopefully they can turn it around. melissa: let's check the market, nicole petallides on the floor of the new york stock exchange. you're taking a look at retailers. nicole: i am.

a monetary policy, let's see if the headlines move the market. let's take a look at what is going on, the dow down about 52-point right now. take a look at dollar general and designer shoe warehouse. slipping down over 2% today year to date still a winner, but once again issuing more shares, making for secondary share offering this year. up about 16% this year, and dollar general fourth-quarter earnings rose 8.5% after a year ago. let's take a look at dsw, designer shoe warehouse. $10 up from where you they think it is headed. melissa: thank you so much. president obama said his health

care law would lower cost but a new study just released is another example of how that is not really the case. adam: we will tell you how much more it will cost you. and you think lou dobbs has an opinion on this one? we will find out next. melissa: market down 50 points. the pound lower in japan, but higher in canada. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get rrie have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together

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melissa: oil prices edging back from the five-week-increase in supplies, our next guest says giving $100 per barrel the next two months. joining me now, president of merck block. $100? >> it is not too much. it is not about what is fundamentally driving the domestic prices up, what it is about is a relationship between what is going on in europe which is reasserting itself as a bad player here, and what is going on in the united states, which we are not fighting down anymore.

but we are doing better than what is going on in europe. a huge differential going on between domestic crude. melissa: wti and what is being treated here between the london and frank crude. >> there are a couple of good reasons for it. fundamentally doesn't seem like it should be because the profile in print is a lesson in supply, so that should be squeezing, here it has been a story of old day of surpluses, but a couple of things changing in the united states. taking away from all of these tight oil plays, shifting it toward the east, toward the west and less toward the supply pushing the gulf coast and also taking the pipeline heard so much about, turned around and what was going from the gulf coast, that has been a little bit of logistical issues to kind

of gets to flow moving a little bit more rapidly and that is coming together now, so we are having a wti price ketchup to what has been a global price that has been 15, 18, $20 higher the last few years. i think it can go to 10. melissa: there's a lot of psychological resistance at $100 per barrel, so how do we break through that? >> there's not much psychological resistance. we'vwe have seen so many compans in this threshold, don't think it matters much as a number. what does matter is the trends continue that our economy does relatively better, the european price stays sticky, and in fact crude continues at least domestic crude continues to catch up to what has been the price. melissa: that works against the price of oil.

>> i'm not a big dollar oil correlation. i have a chapter in my book, which you read which has a chance to bust the correlation between the dollar and oil. it looks like a great trade, but when it doesn't come it can be some of the worst trade in the world. melissa: what does all this mean for gasoline prices at the pump? >> you'll still be tied to the european benchmark, that has been very sticky. it is driving the price a little bit higher. i don't think prices are going to moderate very much, but there are some key players in the united states focusing on the ford, others around the country.

melissa: these are the ones you like? >> continental for sure. it is terrific stuff. melissa: thank you for coming on, good stuff, got a lot in there in a good amount of time. adam: oil you can understand. health care is a different thing. the affordable health care asked not turning out as affordable as promised. melissa: tech gadget addicts are refreshing their inboxes in the hope of being one of the chosen few. the latest on google's "if i had a glass" contest. coming up.

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plus get this document shredder free-- but only if you act right now. call the number on your screen now! adam: could we possibly go positive on the dow today? nicole petallides on the floor of the new york stock exchange. we already had one guest who says he is bullish on this market so what is going on with the dow? >> that is interesting. can you go positive today? anything is possible. you have a market where the dow jones industrials are down 50 points, well off the earlier lows of the morning but you still have the vix, the fear index to the upside. you still have a very strong dollar which also really put as ceiling on the kind of market that can take off and industries that would lead the way such as banks and energy are not really leading the way. so that is something to keep an eye on and tech too. tech is down over half a percent. i got to get to ford. we're talking about ford because ford shares are slipping on the 35 recall00

tour rao's, recall of 3500 taurs are. the fuel tanks were fitted with improperly molded seam. nobody wants a fuel tank with improperly molded seam. the chicago plant is looking where they're were manufactured. and these were built in 2012. they obviously may leak after a severe crash. adam: thanks very much, nicole petallides. melissa: it is called the affordable care act but another new report may find that is not the case. under president obama's new health care law insurance companies will have spend on average 32% more for medical claims for individual policies according to the society of actuaries. that rate is as high as 62% for california. 80% for ohio. the study finds that costs will go up because more people in poor health will join the insurance pool. makes perfect sense, right? with insurance likely, insurers likely passing

those costs on to you, time now for lou dobbs. it seems logical, predictable? >> absolutely predictable. the president of the united states guaranteed to all americans that one, your premiums wouldn't go up. you could keep your doctor. you could keep your health care plan. he is 0-3 on those promises. the entire foundation of obamacare was a lie. and the lie continues to compound itself. this 32% increase in claims will drive premiums up approximately the same distance in increase, 30%. we're looking at higher taxes, higher costs. this, this plan is a disaster. it is a disaster financially, economically, and in public policy. and it is a disaster in health care. six in 10 doctors are now talking about leaving medicine all together, retiring early. melissa: wow. >> 40% of doctors right now

say that their take-home pay has declined since the advent of obamacare. the correlation is not entirely direct. one can expect it to even worsen as the program, obamacare, actually becomes reality, on january 1st of next year. this plan was frontloaded so that it would look better for people trying to assess the cost and the burden on the taxpayer, and our society. frontloaded or not, we're being crushed by this thing and when the new taxes kick in on january 1st, this year, we had about $250 billion in new taxes to support obamacare. we're going it see at least another $200 billion in new taxes kick in next year. the congressional budget office has already estimated that it will cost $1.3 trillion for obamacare. that is an increase of almost 100% from the

original estimate back in 2010. that's where we are. adam: so we'll have this big mess. i love to play the devil's advocate. >> suits you so well. adam: thank you. could this be used by proponents who want a single-payer system, something that mimics canada? >> oh, sure. adam: we do this now we have to do that. >> everyone wants to have a canadian system because that worked out so deliciously for the canadians who come here for their health care. adam: right. >> we have idealogical program to sink the demands of this president and democratic party. they have done so. they achieved what everyone thought was impossible 10 years ago. they have create ad program that dominates 1/6 of the economy and creates further dependency, great he dependency. this is not an either/or in this instance. this is such as disaster that single-payer, no longer an option. it is not an alternative the

only thing that we can hope for it is, well, it runs its course as quickly and as painlessly as is possible. there will be great pain unfortunately for so many people who are dependent on the government in this instance for health care. melissa: yeah. >> we're still going to have 30 million people who are uninsured after these idiots have worked their magic. melissa: after all that. >> when i say idiots, i'm referring to the white house, and to the democratically-led congress that created this nonsense. adam: lou dobbs. melissa: thank you, lou dobbs. you can see lou every day at this time. of course at 7:00 and 10:00 p.m. eastern as well. tonight, family research council president tony perkins joins lou why he discusses that people should no longer fund the gop. >> this will be fascinating. tony perkins one of the leading religious conservatives in the country. one of the smartest folks, talking about public policy. adam: lou dobbs, thank you very much. i don't know if lou is on

the list for the 8,000, a few lucky people will, sporting fancy expensive eyewear coming days thanks to google. shibani joshi has details about google glass. >> if lou wants some he could get a pair of google glasses. adam, you want some too move over chanel frames. this is something more geeky. people will be able to get their hands on first pairs of google glasses. the tech giant ran a contest not too long ago and asked for 50-word essay for applicants where they were asked to explain how they will use the technology in their own lives. now if you're one of those lucky 8,000 winners, you're being notified today and over the next couple of days. so hold out hope. check your in-box. they will be notified by either by google plus or by twitter. the google glass team didn't say how many applicants were in total but wrote on a google blog post, quote, we could have never imagined such an ensues as tick --

enthusiastic response. there were so many diverse, and sometimes crazy applications. being a winner will not be cheap. you can't get something for nothing. anyone who ends up winning the google glass will have to pay something. they will have to pay $1500 to get their hands on it. if you do actually want to shell out $1500, you're going to have to travel to new york, los angeles, or san francisco and pick them up in person. the tab will not be picked up about i about google. congratulations. adam: i think honestly, i think i do it. wait until apple perfects it. i think it will still be pretty cool. melissa: you would pay $1500? adam: when apple does a creation of it. google great, they will introduce it but i will wait for apple to perfect it. doesn't isn't that the way apple does it. >> eyeglasses. there with we go. adam: thank you, shibani joshi. melissa: wooing tim

geithner. charlie gasparino up next on which wall street firm is trying to lure the former treasury secretary. adam: college seniors counting the months until graduation but will there jobs for them once they're in the working world? a new reading on the number of entry level jobs just ahead. melissa: a look at the treasury as we head out to break. ♪ . the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her... no. no! no. ...likes 50% more cash. but i don't give up ea... do you want 50% more cash? s! yes?! ♪ [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase, plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. ♪ what's in your wallet? why? and we've hit the why phase...

>> i'm cheryl casone with your fox business brief. twitter is expected to generate one billion dollars in ad revenue in 2014. that is according to research firm e marketer, which forecasts twitter mobile ads will bring in 583 million this year which is double the ad revenue in 2012. twitter has more than 200 million monthly active users. volvo and shell announcing a deal to fuel volvo heavy-duty fuel trucks with lng, liquified natural gas. nat-gas is cheaper than most gasoline and diesel fuel. the two companies will focus the collaboration in north america and europe. pending home sales declined in february, slipping by .4 of 1%, according to the national association of realtors. realtors blame the slight drop on shortage of homes on the market. that's the latest from the fox business network, giving you the power to prosper.

melissa: so we have some breaking news we want to get to you right now. our colleagues at "the wall street journal" citing sources that blackstone is open to keeping michael dell on as ceo. the private equity firm is competing against an offer from mr. dell and private equity firm silverlake partners to take the company private. hedge fund investor carl icahn also made a proposal for dell. late last week no reaction to the latest wrinkle from dell or mr. dell at this time. right now you can see the stock down slightly. so tim geithner has been out of work for only two months but our own charlie gasparino with exclusive details on the big financial firm that expressed an interest in hiring the former treasury secretary. >> this is called a dance. we've all been engaged in these things in the past but what the fox business network has learned, larry fink, the ceo of blackrock, the largest money management

firm, has $3.7 billion in assets under management has been holding recent meetings with tim geithner to potentially woo him for a job at blackrock. we should mention there is no job offered but nothing really specific talked about here other than would you like to work with us at some time in the future. this is kind of an interesting time for geithner. as we previously reported we were the first to report he is doing a book about his years as treasury secretary and what he did during the financial crisis. i guess he is working. council on foreign relations. a distinguished fellow over there. from what i understand, people say he likes to do this, the book, the council on foreign relations for most of the next year, about eight months out there. from what i understand, larry fink, clearly a guy that knows the worth of someone like geithner, been in treasury, been in the nexus between wall street and the financial sector, he understands what geithner can bring to the table. he is wooing him and trying

to get dibs in in geithner goes into the private sector and talk about him going into government again. a lot of him talking about being the successor of ben bernanke when he steps down at some point. people think bernanke steps down next year that geithner takes that job but fincke, from what i understand is putting his dibs in for hiring geithner. i can tell you when you're blackrock and you manage a lot of money for the government, remember they manage the federal reserve's money, post-bailout money, when you're dealing with sovereign wealth funds which larry does a lot of work does, having former president of the new york fed, former treasury secretary on your staff is pretty good. and you know they have been together a long time. the one irony here that it is interesting that fink always wanted to be treasury secretary. a lot of people tell me here is the next best thing. you hire the treasury secretary. adam: you have sources everywhere. has geithner ever shared with people you talk to truly what he wants to do? does he want the bernanke job or want to go private? >> i think he is all over

the place. i don't think he decide. these are people that know first-hand about the meeting with fincke -- fink. there are meet meetings at a restaurant on the east side. he is playing his cards close to the vest. this is what makes private sector job appealing to tim geithner. melissa: money. >> even more than that he has been in government. adam: his whole life. >> his entire career. he spent early days out of college maybe some time with kissinger associates a consulting firm run by henry kissinger. he worked at council on foreign relations. melissa: he could cash in i would imagine. >> working for 200 grand a year, 300 grand a year. he could make millions. larry's firm, blackrock is an interesting firm. it is not just a money management firm. they're getting into more wall street stuff, trading. he could be very valuable there. i know larry wants to hire him. i know that for a fact. i can't tell you what will haapen. i want to be clear, no

specific job was offered, i want to be clear about this, larry made his intentions known. he is clearly wooing geithner. whether he goes or not, i can't tell you. adam: people like geithner can make money speaking and writing books. melissa: not blackrock money, not blackrock money. >> no knows. a guy like him could carve out a nice life. if he worked for blackrock, larry, geithner would be one of the higher paid people on wall street. one good thing about blackrock it is not a bank. they're starting to diversify it is not a bailed out institution. the government isn't watching them as much as they're watching, there was talk about him going to be chairman of citigroup, right? dick bove mentioned that. there would be a lot more eyes on him if he did than that if he works at blackrock. melissa: charlie, gas, thanks so much. adam: thank you, charlie. as we do every 15 minutes we make sure your money is appropriately in good hands and nicole petallides is on the floor of the new york stock exchange to

do that right now. >> that's right. let's look a couple movers. the dow has begun to continue to improve. down 37 points at this time. let's look at facebook and blackberry. facebook is the first one i want to talk about here. jumping today. key partnerships, working with advertisers and to track online ad space. track userss. oracle doing much the same. facebook at 25.98. that is gain of 3%. blackberry focus on z10 and numbers from that and os operating system. the handset maker is expecting a loss. blackberry just ahead of the fourth quarter earnings, you can see the shares here are up about.75 of 1%. they have done so well over the last 52 weeks and six months, up over 150%. adam: nicole petallides. thank you. we have breaking news regarding cyprus. the central bank in cyprus is reiterating that banks will open tomorrow at noon local time. that is noon cyprus time.

rich edson is in cyprus and will report live on fox business regarding all of that. melissa: college graduation season is just around the corner and a new report has some good news for those entering the workforce. challenger, gray & christmas says the job market continues to strengthen for college graduates although the environment remains highly competitive to say the least. the company's ceo, john challenger, saying quote, job creation has been slow but has been steady. there are growing number of opportunities for job-seekers. but the search definitely requires an aggressive approach. more good news the survey by the national association of colleges and employers found entry level salaries are up 3.4% year-over-year. adam: i don't know if i would want to coming out in this economy. melissa: very tough. very tough. better than two years ago. adam: a lot better than two years ago. all right we'll turn our attention to something a lot of fun, cars. volkswagen is revving up february sales the best for the automaker in 40 years. we'll hear from volkswagen or volkswagen depending how you pronounce it, volkswagen

of america ceo next live from the new york auto show. melissa: when 2020 really means number one. justin timberlake's record breaking week ahead. ♪ . i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. 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. read and consider it carefully before investing. risk includes possible loss of principal.

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adam: big news for volkswagen. after it reported its best sales in 40 years last month and now the company has another reason to ref its engine. the debut of the all-knew golf. jeff flock is live at the new york auto show with more

on that. jeff? >> on the road to world domination there, adam. that's their plan. this by the way the passat. that is made in the u.s. that is made in chattanooga. but the golf, that is the latest one to jonathan browning, head of the u.s., it is the star of the show. >> this is kind of the condensed essence of german engineering and what volkswagen represents around the world as well as here in the u.s. it is just tremendous to see how the maturity of this vehicle developed over the 7th generations. here we are i think what will be a real benchmark for the compact segment in the u.s.. >> show me this because this was originally a car that was billed as affordable, yes, german engineering but this you have kind of taken it up a notch. >> there is lot you can't see beneath the surface. some of the signals and sophistication and maturity of this, if you look at bodywork. for example, this the precision and sharpness of

this crease is incredible what that takes from the die makers, the tools, stamping the body shop to deliver this level of sophistication and presentation. that goes on the outside of the car. the interior, quality, fit and finnish phenomenal. then when you see under that skin you get a whole lot of new technology as well. >> you have a plan, i joke, it is a plan for world domination. you're holding up your end here in the u.s.. >> yep. back in 2007 we laid out this plan for leadership in the automotive industry. and, a big part of that plan was a new investment, new growth plan for the u.s. and we invested in 2008 just as that recession started to bite. we invested in a new plant in chattanooga. that is now on stream with the new passat. we're investing heavily in terms of mexico, new engine plant, new production facilities. we made the announcement as well the golf will be for the first time be produced

in the north american region as well. so a lot of things about putting that infrastructure in place that will help sustain success going forward. >> german engineered, american-made, that is tough combination. >> yes but a very good combination. all the engineering goes on at our corporate head office. we have a lot of highly qualified american employees in chattanooga and across the rest of the organization that provide input to that. then execute the programs across north america as well. >> and there you have it. the new golf. reporters all over it. remember the old one used to look like a doorstop with wheels. not so much anymore. adam: my mom had 81 or 82 dasher. volkswagen makes good cars. >> she remembers. she remembers. good car if you like a doorstop. melissa: door stop with wheels. jeff flock. adam: thank you, jeff. melissa: justin timberlake is back and he is breaking records on i tunes. this is according to nielsen soundscan. timberlake's latest album,

the 2020 experience debuted at number one. it sold nearly a million copies in the first week. 20/20 became the fastest selling album of all time on itunes. this is the first album he worked out in seven years. he worked with sony on a marketing campaign for months. retail partnership with target and blitz for bud light platinum. let's listen? no. adam: i am glad the man is successful. >> i love justin timberlake. adam: he is good for taking over responsibility for the incident, the wardrobe malfunction with janet jackson. she accepted responsibility. he kind of steps into the background. melissa: had nothing to do with that. adam: it was his idea and he pulled. melissa: innocent bistander. adam: success is good. melissa: coming up tonight on "money", raferty capital bank analyst and star dick bove joins me to respond to the "wall street journal"

that banks are facing $100 billion legal bill over cases for the mortgage meltdown. this is a cost that could be passed on to you. dick bove does not necessarily agree with the premise of the article. it has a lot of buzz today and we'll bring him on to talk about it. tonight at 5:00 p.m.. adam: when you think about that too, dick bove, he would know what is going on at the banks. melissa: yeah. adam: would you want to weaken the banks capital positions? melissa: interesting. adam: medical bills in the united states are often double or more those than in other countries for the same procedures. fox news dr. manny al sla recent -- alvarez weighses in on a disturbing new study next. he joins tracy byrnes and ashley webster coming up. [ male announcer ] this is joe woods' first day of work.

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. ashley: good afternoon, everybody, i'm ashley webster. tracy: i'm tracy byrnes. well caution rules the day on wall street. stocks falling as investors

wait for what's next from europe. the dow is down about 36 points right now, but well above the worst levels of the day. ashley: yep, cyprus, just hours away from reopening banks after a nearly two-week shut down. heavy restrictions though will be in place. we'll have the very latest where things stand plus a live report from the scene. tracy: and connecticut offering tax credits, free loans and more to companies that move jobs to the state. governor malloy tells us whether or not it is working. he is our special guest ahead. ashley: we'll find out. tracy: it is top of the hour. time for stocks as we do every 15 minutes. nicole petallides on the floor of the exchange. the dow is better but not great. >> as i look at the big board, tracy, and ashley, you see the down arrows on dow and s&p. at its lowest point it was down to 14,439. you have seen significant rise off the bottom of the market today. however at the same time, the market is very telling.

you still have the vix, the fear index to the upside. that shows you nervousnessness that remains here. you still have a strong dollar that shows you europe is very much a worry. and the market holds it down and tough for the multinationals to grow that way. safe haven of gold with an up arrow. gold us up at the moment. just those three indicators show you this market is not ready to take off not at least at this moment as we are speaking. meantime we're not too far off the record. so that is something we'll continue to watch. i have to keep a close eye on jpmorgan. obviously this bank stock, a dow component is one being featured today because of the news we heard adam shapiro yesterday told us that bernie madoff directly messaged with him, talking about the fact that the banks must have known, including jpmorgan. now the prosecutors are probing jpmorgan's actions during that time, during that madoff ponzi scheme and we'll see what they find. back to you. tracy: sure will, nicole. see you in 15 minutes.

ashley: okay, well, look, cyprus finally preparing to reopen banks tomorrow but with some restrictions. as you can imagine quite a lot of security in place. it has beenna chaotic sequence of events that all came to a head 11 days ago. when on march 16th cyprus became the fifth eurozone member to ask for a bailout. in exchange for a 10 billion euro lifeline, banks deposits of more than 100,000 euros would be hit with the 6 1/2% tax and those with less would be $3.25. we take a look at the timeline. as protesters hit the streets, banks were closed fearing a run by panicked customers could wipe them out. three days later under intense pressure the cypriot parliament rejected the tax proposal. three days after that on march 20 1st, the ecb getting more than miffed, angry. unless the bank tax is put in place the emergency bailout will be cut off within the week. okay?

one day later, march 20 second, cypriot lawmakers go back to the parliament building try to reach an agreement on the bank levy. they stick with the 10% tax on wealthy depositers but reduce the lesser tax amount to 1%. protests con across cyprus, march 24th the country's two biggest banks limit the amount of cash that can be withdrawn each day to 100 euros. next day, march 25th, a finally a last minute bailout deal is reached. in exchange for the 10 billion euros cyprus agrees to inflict heavy losses on wealthy uninsured depositers but the small savers are spared. by the way the lik e-bank will be shut down, merged with the bank of cyprus but banks remain closed on this wednesday for the 12th day in a row. we believe that they will reopen tomorrow. we don't know. tracy: you talk to the people you certainly don't know. no wonder you need a timeline. that is so confusing. ashley: it is very confusing

but that is what brought us to this point. tracy: you called it, you said months ago, watch cyprus. cyprus will need a bailout. ashley: they got as, absolutely hammered with the greek bond situation. a lot of cypriot banks held greek bonds. they lost four billion euros on the greek bonds. the gdp of the country is only 18 billion. gives you an idea what a hit they took on greece's bailout so. tracy: let's get a sense of the mood in cyprus after that confusing timeline. this is just hours, ashley just said, before the banks are supposedly set to reop edson is live in cyprus with the latest. rich, are they really going to open this time? >> we're thinking they might but folks aren't all that sure, tracy. we do have some breaking news on the capitol controls. multiple reports say there will be no electronic transfers allowed from cyprus to other countries. individuals won't be able to take out anymore than $3,000

to bring it to other countries. debit and credit charges were capped at $5,000, euros, excuse me per person per month. checks can be deposited, not cashed there are security firms beefing up security and manpower in cyprus preparing for tomorrow's bank opening. this from g4 s. a british company does security here. we have existing cash business in cyprus which is providing additional sport to cypriot banks ahead of scheduled reopening tomorrow. we'll increase our cash deliveries to some of cyprus's leading banks as well as providing more than 150 security officers to assist with cues. we caulked -- talked to a number of locals when they say it comes to opening banks tomorrow they don't believe it. >> i'm not sure the banks will open tomorrow. i reckon they will be frighten if there is a run on the banks. it is to be expected because if they're definitely open tomorrow i would imagine the

local people will be camping out from tonight as they all open in the morning. >> the skeptics have plenty of reason, tracy and ashley. we were supposed to have bank openings on tuesday. that didn't happen. now it is expected tomorrow. we heard it would be 8:00 a.m. now there are reports that it will be noon local. back to you. tracy: rich edson, thank you very much. you be safe out there tomorrow because it could get quite hairy. ashley: it could. people just want their cash. rich, thank you very much. stocks are in the red on continued worries about the future of the eurozone. our next guest says, you know what? that could be a good thing. he says the market is long overdue for a correction. joining us is gary kaltbaum, kaltbaum capital management. thanks for joining us. top calling the market seems to be one of the favorite speck at the same time tore sports these days but it goes on and on. if you called it, it hasn't happened yet, what makes you think it will happen anytime soon? >> well i'm just thinking we're entering that may

period where we get selling we've had at the last few years. and look, i'm bullish the market's acting great. most sectors are doing well exempt for like the commodity areas and in some commodity countries. it is just, a correction needs to happen. what it does, it takes the smiles off the bulls faces. wipes a little froth out of the market and sets the stage for further gains after one occurs. and again, it is nothing bad. i'm not calling for any bear market or any big issues. i think we're way overdue here. i think bullishness is out there. there has been a lot of secondary offerings. a lot more supply out there. i think probably in the next month we'll start to see something. but no biggie. tracy: to ashley's point, gary, we've thrown history out of the window for all intents and purposes, right? we said this before. i studied fundamental analysis. waste of time right now. don't bother look at set of financials. uncle ben pouring liquidity in, this sell in may go away

thing, i don't know if i buy it? >> look, the fed is printing $4 billion a day. that's number one. that is what is fueling this. if you go back to '09, every time they have announced more printing of money the markets run. every time they stop the market comes down. i think the fed is really watching the markets. eventually the rubberband hit as point where it really can't stretch? short run anymore and i think we're getting close. again, all i'm saying we'll probably have 3, 5, 7%. it will be absolute no biggie and set the stage for highers prices. down the road there will be a big worry. no doubt in my mind the bond market is distort the in price and yeel. this is fed-induced. when i look at earnings and revenue growth it is not good across a broad spectrum. if the economy doesn't really get better, i don't think evaluations will be low enough. but the fed printing? that has done the job. ashley: gary, what will be the trigger? this market is so resilient.

the cyprus chaos has certainly got concern out there but hasn't really done a whole lot. is it perhaps going to be the next earnings season that could start to concern people? >> that was going to be my answer. you don't necessarily need a trigger. you don't need a real event even though people wait for it. this cyprus thing, unless people, there is run on the bank maybe in spain and italy i don't see it as a big deal but once we get into earnings i will tell you we will see a lot of fedexes. the stock was doing great. it went up big-time while the market was rallying. they announced, they missed, they warned, the stock took a hit. i expect to see a little bit of that. i think that can fuel a correction. overall i think we're okay as long as the fed is printing money. i hate saying it. but that is the nature of the beast. we've never seen in our history what we're seeing zero rates and the amount of money that they are involved with and we deal with it. ashley: we do indeed. gary kaltbaum, thank you so much for joining us.

we appreciate it. heard that a lot. >> my pleasure, thank you. ashley: we need the correction to take some of the froth out of the market and rebuild momentum again and push something through the 1600 level on the s&p and we're off to the races. we'll see. garr i are, thank you so much. tracy: nice little thought. ashley: it is. we'll see. tracy: the dow is down 30 points right now. ashley: that is a blip. tracy: that's a blip. this is cool. jeep unveiling its brand new cherokee. the controversial redesign is getting some mixed reviews. i don't know why it is controversial. i think it is cool. jeff flock is live with the ceo at the new york auto show next. ashley: a new report finds that americans are paying much more money for common medical procedures than people around the globe. fox news's dr. manny alvarez is coming up. first a look how oil is trading on this wednesday, up again nearly half a percent at $96.71 a barrel.

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tracy: jeep cherokee making a big comeback as a crossover. say it isn't so. but the new design stirring up some major controversy. jeff flock joins us from the new york auto show. hey, jeff. >> i've got the car of the hour. i've got the man of the hour. take a look. maybe you can see it. it is crawling with people. mike manly is the man responsible for this buzz. this is a jeep like we've never seen before. >> absolutely. as i said, you know, this is a jeep we designed not only for this generation but a new generation of jeep customers. >> see all the reporters here. this place has been packed. this is the most high-profile unveil of the show and it slipped out weeks ago but people are still excited. >> well, you know there was so much interest in the vehicle one way or another it managed to make it out there.

so we released a few photographs but kept all the room news for today. >> i was going to say if we look at this here, sigg 7 slats or slots, whatever you want to call them, you've gotten a lot of heat though is this a real jeep? >> absolutely. depends how you want to define jeep. i think we knocked it out of the park with the potential definitions. using smart technology, this vehicle is more capable than liberty and more capable than the old cherokee. >> you're building this on the platform form you make the dart on and the julietta. so how can it be a jeep? >> the compact usy platform which other vehicles share. it goes to the jeep engineers and we put on a load of technology. we raised the vehicle. iterative four-wheel drive systems and make it truly a jeep. >> you drove it in by the way, drove it like urban rocks. >> over six foot high rock pile. >> you want to prove this

has the real guts of a jeep? >> we're absolutely going to demonstrate. not only the reed guts of a jeep but segment capability. >> ask you about the venture in china? how are the negotiations. >> negotiations going really well. we keep the applications for the authorities but so far to moving forward. i would like it to happen quicker but we're making much progress. >> mike manly, man. hour, car. hour. let you get back to the reporters. thank you for taking the time. new york auto press back behind us all want to see. i'll tell you, this is the most sought-after unveil of the show. jeep is an iconic american brand. when you start to mess with it, people sit up and take notice. this is a car, a mid-sized suv, that mike manly calls the most capable in the world right now. is it? will the american public as well as the rest of, you heard about china. will the rest of the world buy? we'll soon see. but i tell you, it is a big

hit here in new york at the moment the. ashley: interesting. tracy: jeff, i have got to tell you, i had a jeep sport back in the day. i drove the cherokee. i think the car is hot. i would definitely give it a look. i love it. >> i do. it is a good-looking car. tell you the dna on it is pretty strong. there you go. you see how many people are interested in it right now. >> i love it. jeff flock, thank you very much. ashley: thought you drove a trans am? tracy: i did. that's true. camaros. i was a camaro girl. ashley: white snake 8-track blaring away. tracy: and feather hanging from the mirror. ashley: i can see it now. tracy: but i then had these kids. where are you going to put them? ashley: in the jeep. on the roof rack. quarter past to check the markets. nicole petallides on the floor of the new york stock exchange. nicole, go ahead, you had a trans am? >> do not buy the wrangler without the doors. that would be bad for the children. we're taking a look here at cliff natural resources. when you talk about the s&p 500 and what we've seen

year-to-date. obviously we have a great 2013. here is a look at cliffs. falling off a cliff. it is down 15%. over this year the 500 stocks in the s&p 500, the number one loser is cliffs. it is down over 53%. the second would be jcpenney which is down 24%. it shows the dramatic moves to the downside cliffs has experienced. a couple reasons for this. today you have both morgan stanley and credit suisse talking about cliff natural resources. they're very bearish on the company. talking about structural changes. the price point we're seeing. obviously weak demand from china. all of this put together put as weak outlook for cliffs and as a result a loser today and loser this year. back to you. tracy: love it, nicole. see you in 15 minutes. ashley: we're talking about cars we've driven in the past. chevy is a bausch ban. charles payne up after the break. navigate tore. that is a big boy. tracy: i would have rounded the corner on a car like

that if i had it. it would be an oval, not a rectangle can't drive it. coming up is this the week the s&p 500 hits a new record? sandra smith on the trade. ashley: wanted in connecticut, job creators. governor daniel malloy updates us on his program for companies to relocate to his state. first a look how the u.s. dollar is moving. euro under pressure, down against the dollar. tracy, are you going to italy? tracy: yeah. ashley: it is getting cheaper all the time. we'll be right back. investor. yeah, i'm a serious investor

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the capital one venture card. he's coming to us from home. hey fellas... hey baby, you want mama to iron your undies? nice tightie whities. i didn't know mrs. barkley made quilts. really? looks like a circus tent. is that the best you got? now if you put this, with this, you have a sailboat. what's in your wallet?

>> at 23 minutes past the hour i'm arthel neville with your fox news minute. crowds gathered outside the supreme court as justices wrapped up a second day of argument on gay marriage. the court is indicating it could strike down the federal law that prevents legally married gay couples from receiving a range of federal benefits for married people. pope francis held his first general audience today at the vatican. he called for an end to violence and looting following a weekend koop in the central african republican.

it his first appeal for peace since becoming point. that is the headlines. back to ashley and tracy. tracy, any car you drive you make it hot. tracy: any car looks good with fuzzy dice. ashley: arthel. and the whole thing. time to make money with charles payne. this hour looking at systems software for the insurance industry. what have you got for us, charles? >> white snake. i will hear the song all day long. one. real hot trades over last couple years is software for the hospital industry. anybody who has been into a hospital realize they have old computers there. they have like the original computers. insurance industry is not too much better. if you ever go to the insurance industry, hard-wired cobal things that go back to 1978. they have made huge inroads, guy wire. they sales underwaiting, correct premiums and pay out policies and and pay out

claims. they have great growth potential all around the world. what i like typically come in and usually sell insurance companies claims center software. sell them the policy center software and then billing software. they have a nice up selling policy. in the pipeline they have a thing called project vega, a web-based administration all of these things. we know that is where everything is going. if that works out real well. one thing i had problem with year-over-year and last quarter was the margins. far begins i didn't like on service maintenance. just down slightly. overall an amazing business. this stock is really hot on the cusp of a breakout. a nice momentum stock and breakout stock guide wire. tracy: who would have thought, charles payne, thank you very much. >> thank you. tracy: the s&p is in the red after after settling two points shy of a closing high yesterday. sandra smith joins us with today's trade. is it going up? >> everybody is joining

thedfollowing the s&p 500. this is better gauge of the broader stock market. here is an intraday chart. yes, tracy, we're still lower on the session by a couple points, we're near the highs of the day as keep this in mind as we enter last couple hours of tradings anything can happen. we're near the highs of the day. look at leaders right now. you have gilead sciences, humana health care in there. you have a airline, southwest airline in the mix. here are the numbers to watch. i want to remind everybody because it is about time everybody starts looking at the closing high. 1565 and change. we, as you just saw we're just a few points shy of that right now. but a lot of analysts today are speaking out saying the bigger number would be the intraday high we reached in october of 2007, 1576. that is a good 11 points above the closing high. those are the two big round numbers to be watching as s&p continues to climb. i want to identify one thing, if you look at the dow 30 right now, johnson & johnson, some of those consumer names had been some of the biggest

winners in this rally. j&j trading at a record all-time high, guys. a lot of those safer consumer names are what have been thriving during the most recent part of the rally. i want to open up the sectors and show you energy. a little bit mixed in today's trading session. there is still a lot of green on the screen especially when you look at oil giants, exxonmobil. conocophillips is in the green right now. guess what, a lost raw materials stocks are doing very well and some commodity prices continue to rise. take a look at crude oil for example. here we have it, intraday highs right now, guys. mirroring $97 a barrel. don't forget there has been a changing of the tide in the crude oil market. it had been lower for quite some time. it is getting a nice bounce back. this is weekly chart, guys. when oil does well, a lot of big energy names do well and tracy and ashley, then a lot of the s&p 500 companies do very well. ashley: yeah. >> hence, we could see a record. tracy: and i hope we do. thank you, girl.

ashley: put your hand down on that one, with authority. thank you very much, sandra. if you're looking for a way to make fast cash, who isn't, we can tell you how to make $6,000 standing around. tracy: oh, my god, doing that. look at winners and losers on the s&p 500. sandra smith was just talking about it. we'll be right back

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full months of identity theft protection risk free. that's right, 60 days risk-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a ce. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your screen or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! ashley: stocks are off of session lows with 90 minutes until the closing bell. nicole petallides. nicole: i wanted to talk to mark because he follows the market closely and something you noted

yesterday was despite the fact we sully up arrows, up over 100 points, you were still nervous about the market because the sector's leading were the defensive ones. what are you seeing today? >> you are still seeing a little bit of evidence of that. lots of medals weakness. the materials, really the oil and gas stocks. nicole: all that tells you what? >> you have to be more selective come he cannot just run out and select stocks. homebuilders have been good, even the expiration and production company based in the fact natural gas is over $4 so a lot of those are acting well. so a lot of concern with new territory. it is not concerned yet. the u.s. is very much in good shape. eventually will be a problem over the next month.

nicole: you seem a little tepid. >> 2% upside, probably 10% on the downside, so investors need to be a little bit more concerned about the downside. nicole: back to you guys. ashley: we will be back to you in 15 minutes. tracy: i think this is one of the hottest tickets in washington, d.c., this week not for a movie premiere, they are for the supreme court arguments over gay marriage with some people?-; paying up to $6000 to have someone stand in line for them to get a seat. peter bart is live with more. i hope you are doing something. peter: i will try to make that much. line standing is an established business here in washington, d.c., kind of a cottage industry with several companies that offer line standing services.

they will pay anywhere from $35 to $50 per hour for somebody else to get in place for them for an important supreme court argument like we heard here today, they are here for hours, sometimes days camping out on lawn chairs, bringing their sleeping bags. actor, director rob reiner was one of those, he paid to get into the proceedings today. the companies that offer these services started years ago but entrepreneurs who thought there might be a market for busy people who consider their own time more valuable. >> they probably charge about $50 per hour. i have a guy who manages everything if he gets 50% of that and he does the headache of hiring all of the line

standards. tracy: i wanted to follow the arguments, i needed a good night's sleep. america has been built on entrepreneurial spirit. for somebody to figure out the business model, to be able to make a little cash. >> they pay about $10 to $15 per hour, they don't make $35 to $50. some of the line standers are to get a card, but the client shows up and gets a card about an hour or so before the public is led into the building and when the line standers are outside like this, they have to brave the elements. sometimes they work in shifts, but the obvious question, have to get some food or take a bathroom break what do they do?

they look after each other spots. they watch them, they are professionals and they look after each other. back to you. tracy: i love this story, it is really it. ashley: i wonder if there is a line standers union. that is kind of nice. i will let you go to the bathroom, but it will cost you $10. breaking news, oil closing up $0.24 today. sandra smith talking about this in "the trade" today. the fourth straight day of gains. can it once again cut that? jcpenney costing about faith imatwoface. liz macdonald on that story next. tracy: and hospital bills in the u.s. compared to the rest of the world. dr. manny alvarez tells us next.

but first, check on the 10 and 30-year treasuries heading out to break.

>> i'm shibani joshi with your fox business brief. called the worst cyber attack ever and it is going on right

now. the organization is the focus, the biggest pile of service attack in history of the internet. it is the target of spammers angry they have blacklisted them. twitter is expected to generate $1 billion in ad revenues in 2014 according to the research firm which forecast which are mobile adds will double the ad revenue in 2012. and pending home sales declined in february slipping by four tenths of 1%. according to the national association of realtors. realtors blame the slight drop on the shortness of homes in the market. that is the latest from the fox business network, giving you the power to prosper.

ashley: in today's medical dollars, and report says u.s.

expensive in the developed world. they say americans pay significantly more for surgeries, drugs and even routine doctor visits and residents of other countries and the amount is staggering. the average price tag for a stay in the u.s. hospital is $4000, double the cost of any other country surveyed. here to discuss this is health.com editor manny l. alva. is the difference in pay. >> we live in a society, dr. the u.s. practice very defensive medicine. that is the evolution of medical malpractice but people argue with me that is not the reason. a lot of doctors, hospitals, you go to the emergency room, i have a headache, you need an mri, god for bid you have a brain tumor,

but people do it because it takes one and it is $20 million. i think we also have the american society has become too dependent on going to the doctor. people going to the emergency room for simple solutions, they don't go to primary care doctors. they like a quick fix, immediate pill. i want to eat what i want, give me a pill to lower my cholesterol. i would also argue when you look at those countries that perhaps certain things we do better, there's no doubt about it. we do many things that are very good, we do get cancer treatments, surgical intervention, surgery that all other countries copy. it is a mixture of things. i totally agree, we have to

bring costs down, but there are other factors that have to change before that happens. tracy: will the costs come down anytime soon? >> if anything, they will go up. there is nothing in your legislation that will lower the cost, if anything it will increase it because you will still have issues of doctors getting cut, they want to concentrate more and more on work that really is where the bills get paid and how they will do, the flu and things like that. brain surgery, they want to do those things at the end of the day technology and the way medicine is paid in this country, it is going to increase the cost, nothing is going to change short-term. ashley: we also pay for the effort to find a cure for there is a drug or a procedure. there is a cost involved with that. >> and people don't want to

wait. my father-in-law, god bless him, he pays his taxes, but he can't walk. it took about a year to get on the list and ultimately i brought him here, life went on. so there are a lot of things that happen in other countries that people don't realize. the american consumer wants their services now, no delay, they want it fast and quick, instant gratification. and that will cost. ashley: yes, it is. appreciate it. tracy: it could be one of the most humiliating corporate turnarounds ever. jcpenney backtracking on the plunge in sales. with more on why the strategy backfired, liz macdonald with the bottom line. >> it is good to be with you. what happened was that launched

the stretch of everyday low pricing essentially doing away with coupons, telling the consumer trust us, we will give you the prices and now it is backtracking. let's see what jcpenney is saying about coupons. ron johnson came over from apple. he said coupons were a drug. we have to wean them off of coupons and educate our consumers. that essentially saying to the viewers and to the consumers, show you our prices are 40% below, but the stocks did drop, and the sales dropped to 25 year lows, basically lower than what macy's was pulling in. the coupon moms went to tj maxx and macy's. the stock hit $80 in 2007, now

trading around a fifth of that. ron johnson out with a statement saying the marketing did not connect very well with our customers last year, so they will mark up the store brand, and give you a coupon on that. that is only on the store brand. if they blow that out to the rest of the items remains to be seen. this remains to be a half step right now, we will see if it works. back to you guys. tracy: jcpenney should be moved to cyprus because nobody can make a decision in either place. ashley: it is a quarter until, stocks as we do every 15 minutes, back to nicole petallides at the nyse. nicole: a little news, take a look at apple and google today. the s&p 500 is the worst of the three indices down a half of 1% right now. apple and google both lower.

down 1.5% respectfully for apple and 1% for google. concerns about europe weighing on the market across the board, specific threats came out and cut the estimate on apple for the june quarter predicted lower sales for the company, they noted the larger ipad and modest expectations for the iphone. google shares under pressure after a trim on their estimates. those names under some pressure today on a day where we are getting closer to the unchanged line on the dow. ashley: thank you. breaking news for you, and associated press is reporting an oil spill in minnesota. sandra smith with more. sandra: it appears there has been a train derailment causing 20,000 gallons of crude oil to spill as a result of the train derailment. authorities according to the associated press say 14 cars of

a canadian pacific railroad have derailed in western minnesota. at least three have spilled or have leaked crude oil. about 20,000 gallons of crude. a story just raking now. we will stay on top of it. ashley: they say because the ground is frozen, there's no threat to ground or surface water, so at least that is something. tracy: connecticut trying to lure job creators with financial incentives. we will be told if it is working. ashley: take a look at some of the winners and losers as the dow tries to claw back at the earlier losses and with some stocks are on the nasdaq. we will be right back. suddenly, she does something unexpected and you see the woman you fell in love with. she's evything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use

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ashley: welcome back, everybody. a quick check of the market, the dow and s&p moving slightly lower. the nasdaq turning positive off slightly. the tech heavy nasdaq showing green on the screen. tracy: connecticut next five programs offers economic advantages to relocate to the states to create hundred jobs within five years. 10 companies have joined the nearly two-year-old program so far. dannel malloy spearheaded the effort and joins us now. governor, explain to us how it is working. i assume you're targeting new york companies in particular. >> we are targeting companies within our state to get them to grow as well as outside the area. cigna moved their headquarters

from pennsylvania to connecticut. others have moved from new york to connecticut and companies in connecticut have decided to grow here rather than some other state. tracy: the companies get grants and tax credits, we are giving away the farm to keep the corporations here. is it helping the economy at all? >> let's stop right there. we are not giving away the farm. they are investing $1.3 billion in our state. other than 7:1 return. they are in targeted areas of performance that we want to feature and in fact our clusters are within our state, so he could bring insurance companies to our state, that is one of our strengths. if we can bring digital media, that is playing to our strengths. we want to build on our strengths while addressing our weaknesses, which is why we are addressing education at unprecedented levels. we want to prepare a good

workforce and fight for every job we can get in our state. that is why we have created 22,000 jobs since the day i have become governor. tracy: new jersey ayling, state taxes, connecticut has high state personal taxes. we have -- >> one second. tracy: forbes said one thing you don't want to die is connecticut. >> you are just repeating things somebody probably wrote on a card for you. hold on one second. our maximum tax rate is 6.7. you compared us to new york and new jersey are the numbers are approaching 9%, so give me a break, will you? tracy: let me continue the research i did myself, sir. 7% luxury tax that we don't have. you have an occupancy tax, your general sales tax is higher. >> let me assure you you have

taxes on hotels, on cars, and if any time you want to come by and meet with our economic development people, be happy to have you do it. we have grown 22,000 jobs, unemployment rate is dropping. people are coming to our state and in the last year to companies, fortune 500 headquarters have moved to connecticut. the last time we had discussion about a fortune 500 headquarters was 2006 when there were only two left. this is about progress, not what yoyou're trying to sell. tracy: it is the expense of the residents. we see this in a lot of states. the population has increased in connecticut since 2010 according to census data that i checked this morning. so who is winning? the companies are the people of connecticut because the people are really talking about moving out. >> 22,000 people who have gotten jobs since the day i became governor are winning. the reality is we had some increase in the last census in our population, and as i said,

we've attracted a couple fortune 500 headquarters. i don't know how you measure success, but i know how we measure it here, growing jobs is one of the ways we measure it. tracy: and if only the employees move to the state, everybody would win. connecticut governor malloy, thank you for taking the time. it is happening everywhere. they give perks to the corporations, residents are moving out. ashley: good interview. if the blackberry can launch a reason to buy the stock? one says don't touch it, another says it is a rumble. liz claman takes us through the next hour. "countdown to the closing bell" is next. [ enne revving ]

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double seven grabs the steering wheel for the unvei unveiling oe new range rover. we're live at the new york ran range. it is a blackout, clear channel digital billboards being forced to flip the off switch in l.a. will that dim all the lights for this stock? and do you hear that? criticcrickets to be all they hr after the failed blackberry ten. "countdown to the closing bell" starts right now. liz: good afternoon, everybody. i am liz claman. getting really interesting in the last 28 minutes, flying back from earlier losses. at one point the dow was down 120 points, of course the session lows, but just wan