melissa: happy friday. lori: big sell-off on wall street as the nation adds a paltry 88,000 new jobs, slowest number since june of last year. the market may have been bob gall, asset management is here on why he thinks the report is a chink in the armor of the economic recovery. lori: in the hunt for jobs americans are packing up and moving out. mayflower's c e o on why the residential moving business is up 16% year over year. melissa: california is criticized for being one of the least business friendly states. we will introduce you to one ceo who is ignoring the warning. lori: a busy hour for you. let's get you updated on the markets. deep sell-off underway. nicole petallides has the job report setting the tone. nicole: that is the thing we have been waiting for. everyone waits all month long

for the monthly jobs report. when you get a headline number like what we got today, just seeing 88,000 jobs, in the $200,000 anticipated, traders on wall street baffled, futures tanking and the dow jones industrials, 14,494, the lowest point, thirty-four to be sixty points improved to the lowest point. but we are down triple digits, down 100 points. the s&p is down when to present and the nasdaq to the downside. techs are down 1.1%. on the dow jones industrials, the weakest names in percentage terms are among hewlett-packard, cisco systems, ibm. those are the names that away now. the banks have improved some, tipping off their earlier lows. i've got to take a look at the fear index which is at $14.63,

showing the worries and fear in the market, we have seen volatility since march 20th. it is up, it is down. yesterday was up, today is down. shows you back-and-forth action along with it. cheryl: the dodd -- jobs report sending shockwaves, 88,000 jobs added in march. that is far below the estimate of 200,000. look at that. even more telling the labour participation rate fell to 63.3%, the lowest level in more than 30 years as people grow discouraged with the bob market. bob doll is equity strategist with asset management. welcome to the show. do you believe the reported as bad as investors think? >> less than 1% decline is noise, it is random. i don't like the red on the screen. we are overdue. the market has been so strong so far this year.

feels like it has gone up practically every day. this is not a good number, no question about it but one month we number doesn't end in economic recovery. it tells us we are in a muddle through economy, not one that is better than that. last couple months things looked a little better and we are settling in to the 2% growth rate, neither fish nor fowl. cheryl: do you think this supports 2%? 88,000 jobs, half a million people who decided to drop completely out of the work force without even trying to look for a job anymore? >> it is 88 for 12 months, it is not 2% that year to date is above 2%. the job ceres like most monthly series is a very volatile one. if you believe we will be 88 for the rest of the we won't growed too but if we average we do this year, we will stay above 2.

we're in a slower period for a whole host of reasons, this is not the first statistic, a bunch saying we are slow. melissa: you have been bullish on the market. i'm not just talking about 110 points, for some sort of pull back but does this change your outlook on the market to see this data start to stack up? >> it does not. we will have a sloppy period in the market for a bit here but i think we will end the year higher than where we are today. believing that the liquidity from central banks, the improvement in the business sector, by and large the improvement in the consumer sector, despite the government head winds, make some progress in the economy. last year the economy was mediocre, the stock market was fine. cheryl: melissa: it is all about the fed

at this point? and the equity market the only place to get return until unemployment goes to 6.5%. and the economy working on economic earnings. >> you have to worry about earnings. the first two month of the first quarter, march looks like a bit weaker. the pedal to the metal, and speculated they might pull back on that at some point, a report like this they are likely to be happy. melissa: a lot of people trade stocks. and earnings and talk about the guidance going forward and more head winds the we're settling down a little bit. do we want to trim little ahead of earnings? >> if you have been fortunate

enough to be overweighted in stocks and have this great first quarter and take a little off of the table that is fine. most people have a lot of portfolios where they can't wait for a pull back, lots of cash on the sidelines, and stocks are up 10% year-to-date, and itching to put back in. melissa: thanks for coming on. lori: charlie stillman is out, richard strasbourg is in. the former money manager at the center of the trading case, and reverse course to cooperate with the government and bring charges against his old boss. steve coin. >> talking about the market's coming back is sort of interesting. as soon as he mentioned low interest rates the market started in and this is what the market is powered by. good and help but notice that. pretty interesting, charlie

stillman is a long defense attorney, people interpreted his hiring in this case. and pled not guilty for being charged by insider trading, which involved with aspects of steve cohen, and at a conversation before sac began to dump those stocks, the allegation is he told them to jump what was said during the conversation is unclear. do you need to cooperate? here's the problem. richard strasbourg, you can interpret his hiring a lot of ways. i remember him because he represented peter -- pretty amazing. he figured the martha stewart case. he did not settle or cooperate against martha stewart or anybody. he went to jail. he was convicted. you can look at it that way. both of these theories are

bouncing around. and defense attorneys, go in and dump someone like charlie stillman, he is 75, doing this for a long time. basically tell the fed if you want to do deal with me i am willing to fight with you. no jail time. and if they put it away for 25 years in jail to to trading and how much money and guilty on all counts. to agree to no jail time would be an extraordinary step based on the fact and circumstances of this case. a lot of people talking about that, by hiring strasbourg he has uped at the end day. steve cohen says he has done nothing wrong that doesn't trade on inside information and to all the point out i don't have a

view on this other than to say the government clearly gunning for the top guy, we had the deal yesterday, it was fun. bo dietl is good for instance steve:what is interesting, he gave an insight into what steve cohen is thinking. you could tell it is like the world will fight it out. the world is coming down on him and one of his critiques is they are too tough on him and both said no offense but the government thinks you are the john gotti of wall street, the government thinks. the worst he did was trade improperly to kill anybody. that is where this is going, starting to heat up. got to think something is heading to a head soon. and runs out in june.

melissa: playing it safe, disappointing jobs report as investors flocking to the treasury. lori: trouble is worsening for electric carmaker, take a look at metal as we head to break, we have a market that is coming back. melissa: the dow is down 98 points and has been down 120. gold trading higher, silver as well, copper lower fractionally. we will be right back. @

lori: blank saying it will conduct the 787 test flight today. today's demonstration, the final certification test for the new dreamliner battery system. boeing shares in the green of $0.27, $85.22. it is about time. melissa: time for stocks. nicole petallides is on the floor of the stock exchange. seemed like the dow is bouncing

back. nicole: just like boeing a little bit of news moving back into the green but overall we're seeing much improved markets than earlier this morning. at the lowest point the dow was at 14,434. we saw 30 dow components in the red, if you have coming to the green such as boeing and united healthcare to nephew. the fear index has been to the upside all day but we have seen some improvement in this market but for the month the new quarter the dow is down 1/2%. netflix was up over $170 this morning, you see it at 15525, they did get a boost from canned or fitzgerald which reiterated their buy rating on the company, lifting the price target up to $180 from 150. beyond 150, probably had to raise it but they will grow at this price point up 1 day. after being up at 170 it is

actually in negative territory. melissa: thanks so much. in a surprising development newmarket data showing fears of a rush for the exit out of bonds, greatly exaggerated. many of the biggest in widely followed bond funds attracting new cash. liz macdonald with the bottom line. liz: the theory was the great rotation meaning the federal reserve was so deep in the market and bond prices would clear. data coming out of thompson reuters with the clipper says otherwise. take a look at these numbers. pretty surprising, bonds keeping pace with stocks, new cash over $76 billion. that is on pace with $78 billion pouring into stock funds so far this year, talking about vanguard, all of them are seeing nice cash flows in to their bond funds. what is the problem? many coming out of money-market

funds going into these guys and going into these guys. it is about the hunt for yields, corporate junk, the few in north coriander one other caveat that is so important is wall street, treasury department keeps track of international flows and seeing them out of coming into the united states in the united states and that is interesting, not only the condo markets in new york or florida. they're coming in to funds in the united states, safe-haven in europe. >> all mutual-funds or in flows and everybody thought this is a great rotation and this has happened so many timess before. it hasn't happened yet. liz: the bond market had only the second time since the financial crisis negative return first few months of the year,

the great rotation isn't happening yet. lori: thank you. melissa: and new strain of bird flew in china is responsible for six death, the deadly disease spreading through agricultural communities in eastern china. there have been 14 confirmed cases of the virus. authorities are ordering a wide scale slaughter of poultry and so far the virus has only been transmitted from bird to human and nonhuman to human which would be a lot more dangerous. the bird flu outbreak is also hurting chinese airlines, fears that the deadly virus will have an impact on air travel having a sell-off in airline stocks. lori: we are off of the worst levels down by 90. we are there next for you with a check on commodities. melissa: california is called one of the least business

friendly states in the country but our next guest says the critics have it all wrong and he is putting his money where is now is. his story is next. ♪

[ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move firs 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.

>> 21 minutes past the hour your fox news minute. a press conference is just about to begin and the rutgers university, they are getting set up, an announcement that rutgers university athletic director is called is expected, two days since the video service showing rutgers basketball coach mike rice verbally and physically abusing several players. rice was fired on wednesday. in illinois one person is dead and dozens of elementary school students were taken to hospitals after a school bus crashed and overturned. two other vehicles were involved. police say the driver of the jeep wrangler was pronounced dead but all 25 students on board the bus survived and emergency crews are on scene in

wadsworth 45 miles north of chicago. rescue operation continues for possible survivors after a building collapsed in mumbai, india. the illegally constructed eight story building collapsed in on itself killing 45 people and injuring at least 50 others. those are your headlines. now back to melissa and laurie. lori: since sad stuff today. speaking of that stuff the dismal jobs reports, action in the commodities market. fox business contributor phil flynn is in the pits of the cme, investors flocking back, gold rebounding from a ten month low. phil: everyone given up for dead a few minutes ago. why would you buy gold when you can buy the dollar? when you get a lousy jobs report. we are seeing gold going up against industrial metals on that side of the equation. that is the big story today.

also take a look at oil, when you get a bad jobs report demand expectations fault and that is what we saw on oil. one thing that is keeping oil from clashing again is the dollar. the dollars a lot weaker today. that is bringing up the euro and bringing up the cost of oil and of course even with all the big news on the jobs report, the brent crude had the lowest level since august, a big runup on natural gas, natural gas getting a double lanny by the weather, colder than normal weather on the north, high temperatures in texas driving the price higher but also what is driving the price higher is the fact that we right now seek rink counts in the u.s. fall 14 to the lowest level in 14 years. that is the third time in a row we had a 14 year low on natural gas. back to you. lori: we did you to have the context on bank accounts.

phil flynn of price futures group. high tax rates and tough regulations have driven businesses and individuals out of california toward lower tax states like florida and texas but my next guest did the exact opposite. he moved his company to the golden state. joining me is the ceo and president -- thanks for joining us. we love your story because as we said we have seen people moving in the opposite direction. end cancer pharmaceuticals, you needed to go to an area you felt had the economic background to support you. what were some of the reasons? >> thanks for having me on the show. and skin cancer and california is leading the charge in helping shape the life science industry because of access to these different academic institutions

and other important components for us to foster our development. melissa: and better access to capital as well? >> not only do you have in california top scientists and other clinical researchers and investors and risktakers, capital is definitely there but we also have the talent pool, scientists and key opinion leaders focusing on some of these aggressive skin cancers. melissa: right now you are trying to build everything up and not making money yet. trying to harness resources, academic resources and the talent but if you are lucky enough to be successful at that point don't you think either you or your talent will become frustrated with how little you get to keep?

>> very interesting equations or thought. we have been interested in trying to focus on development efforts and that is what our primary focus has been so economic consideration has been secondary. obviously when you are looking at a location one of the key factors for proximity is the other factors that go into opportunity cost. migrate to silicon valley. melissa: right. >> a lot of life sciences companies are based out the bay area and san diego. that is very important component for the other nontangible --. melissa: i understand texas tried to lure you away and in case anyone from texas is watching what could they have done differently to get you to start up there instead? >> i, i wouldn't say they have lured us away. we'll be opportunistic of other places where we would expand the company. at this stage for the

development part where phase we're in right, california has been great but, we have eight centers across the u.s. we're also working with leading institutions in texas. so we hope that we eventually grow the organization and be located in, remote locations in other states as well. melissa: thank you so much for coming on. >> thank you. lori: the headline this morning that dismal march jobs report dragging down the markets but the markets are climbing back albeit slightly. workers leaving the labor force disurge comed by their opportunities, or lack thereof. melissa: in fact the last time the labor partial rate was this low was may of 197 the remember those days? jimmy carter was president. the rubics cube made its debut. you remember that. lori: of course. melissa: peaches and herb reunited topping the charts. think on that one for a minute. we're back with wells fargo

economist, mark bitner. >> ♪ .

. ..

melissa: time for stocks now. let's head to the floor of the new york stock exchange where nicole petallides is standing by. stocks climbing from the lows of the day now, making a bit of a comeback. >> that's right. there is so much going on. we're seeing the vix jumping. the we're watching nauert gas moving to new highs. we're watching u.s. indices back and forth sitting near critical make-or-break

support levels as the people who follow these markets and do technicals would say. we're watching gold, crude, all of these things that are on the move. certainly back and forth action on the dow jones industrials as you said off the lows of the day. i'm bringing you over to see jcpenney. jcpenney has been bucking the trend. we've had a down arrow all day but what is interesting for jcpenney up 3.7% right now. it has been one under pressure but analysts came out and talked about the fact they're anticipating a few more sales. they're seeing more traffic. they're guessing it will be more likely for jcpenney. one shareholders have been begging for a turnaround. it is down over 52% in the last 52 weeks and ronson -- ron johnson is trying to turn the company around. back to you. lori: thank you, nicole. there is talk the federal reserve would be ending its easy money policy sooner

rather than later. mark vitner. wells fargo. nice to have you on the program. dow is climbing off much lower levels here is. is this a signal in any way shape and form that investors will discontinue this wealth effect we've been feeling for years? >> that is optimistic spin on that. i think it is encouraging that the market is rallying into the afternoon going into the weekend. usually there is a lot of dread going into the weekend. something bad could happen in korea or somewhere else in the world but, i think that today's weaker number really puts to rest some of the talk that we heard this week that the fed was preparing to come up with some plan to taper their asset purchases. they're going it keep buying bonds well into the latter part of this year. we suspect that maybe they will go from $85 billion a month to 80 and possibly in december, but not any sooner than that. lori: let's talk about this

jobs report. what a disaster. how did we go from 280 -- i'm sorry, 268,000, upward revision for february down to just 88,000 created? >> yeah. you know, i don't know how we, get that particular swing but i think the january, february, numbers were probably a little bit overstated. the last couple years we've come out of the chute at the start of the year, very, very strong. we get march and april data and looks like the economy ran off a cliff or hit a soft spot. in reality i think a lot of is seasonal adjustment the way the government puts numbers there. i don't think anything really changed. lori: tax increase, sequester perhaps some of that kicking in at this point, those cuts, europe? >> no evidence that sequester had anything to do with this because this reflects the early part of march. sequester was brand new. i don't think there is any

hint of that in this number. certainly government budgets are being cut back and that has been a source of weakness but that is nothing new. when we travel around to meet with businesses apmost businesses i meet with need to be classified as small businesses or middle market companies, they're telling me that they're hiring today you about they're having a great deal of difficulty finding the right workers, finding workers that can pass the drug test. that can pass a simple reading test. so i think that, that may be in here a little bit. but the other thing that businesses say that weill we're looking to hire people we're not looking to expand our payrolls that much. we're just trying to maintain what we've got. lori: curious your take on the participation rate which at the lowest level since 1979. we're down to 62.3%. there is talk this figure is skuled by older perhaps retiring workers. can you tell me what is contributing to this? >> i think that's the story some politicians want you to believe. that is just baloney.

it's not. it's not being skewed by older retirees. the only people that are participating in the labor force in greater numbers are the older folks. many of them are getting close to retirement right now. to have enough money to retire and coming back it of the retirement in the labor force. people that are dropping out young, prime working age adults. they're dropping out because they don't see a whole lot of opportunity there. not only dropping out of the labor force. they're becoming disabled and going into disability. that takes a lot. a lot of times they have to hire a lawyer. go through a long involved process. those folks are not coming back into the workforce anytime soon. i'm troubled by that. lori: millions out of the workforce, mark. it is a crisis. really disappointing data. i hate to cut you off. let's hope it is an anomaly. thank you, mark. we'll check in with you very soon. melissa: we have breaking news right now. the congressional budget office releasing the latest

reading on the federal government deficit in the first half of 2013. the fist car year the federal government ran a budget deficit of just $601 billion. not that month. don't worry about it. that is 178 billion less from the the show fall recorded from same period last year. there you go. president obama to release his budget next week. fox business learns learns upper earners retirement accounts will take a big hit. get ready. rich edson at the white house with more on this. rich. oh, no? >> the president is offering few details are or the white house is. you are mentioning retirement accounts. white house is proposing capping retirement accounts, 401(k)s, ira's at $3 million. there is some suggestion the white house would ask wealthier americans pay more in the past with curbs on deductions. you can take less value from a deduction if you're wealthier taxpayer. there are changes to the way social security and other benefits are indexed, to

inflation. it would slow the increases in the growth for that. and republicans say, with that, they are meeting the, the white house is saying that they're meeting republicans halfway with that. >> what the president will do with his budget is show that it's possible to achieve substantial deficit reduction and at the same time make the key investments that will put more people back to work today like investing in our infrastructure. >> republicans dispute that this statement from house speaker john boehner. saying if the president believes these modest entitle mane savings are needed to help shore up the programs there is no reason they should be held hostage for more tax hikes. that is no way it lead and move the country forward. the president's budget is couple months late here. typically suggestions from both houses of congress how they should proceed with their budgets but the house already passed its budget and has the senate. there are discussions as perhaps a way to compromise on differences between those two documents which are very different. back to you. melissa: hmmm, rich edson, thanks so much.

lori: we've been talking about this all day since 8:30 a.m. even when the labor department released the latest payrolls report. that is bad news. one struggling automaker in particular. fisker layoffs are next. melissa: on the online privacy. shibani is on that. lori: no bones about it. kfc new plans to win back customers. melissa: 10-year treasury. wow, look at the yield on that. just falling. seven basis points. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea

and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side.

>> i'm cheryl casone with your fox business brief. a disappointing jobs report from the government sparking a selloff on wall street today. the dow though only down 90 points. so we're doing a little bit better. mf global wins court approval for a plan to liquidate assets and repay creditors after filing for bankruptcy in 2011. former chief executive jon corzine was blasted for his conduct in a new report by a trustee who is recovering this missing customers funds. the firm's collapse turned into a political firestorm when regulators discovered billions of dollars were

missing from customer accounts. spending on small kitchen appliances jumped 10% last year to fivenal billion dollars according to market research company npd the growing trend for healthier eating had americans by buying more products to prepare natural foods. baby boomers were last year's big buyers. that's the latest from the fox business network, giving you the power to prosper of

melissa: so more bad news for electric carmaker fisker. the company is laying off nearly all of its employees. after today's job cuts reports say only 53 senior managers and executives are left and they are staying on to try to find buyers for the company's assets. fisker hasn't built any cars since july. it is trying to renegotiate a loan payment with the department of energy which is due on april 22nd. it got $190 million from the

government but both sides have declined to say how much fisker owes later this month. one to watch. lori: okay. google taking on the fbi here. so what is the reason the company's at odds with the bureau? it is all about users insfo. shibani joshi all over the story for us. >> probably only one big company as mighty and as patient and as rich enough to take on the fbi as google but google is taking on the fight. the company is pushing back on fbi requests that it has received to allow the agency to secretly get access to names, addresses and other personal information about you without any sort of clearance, without warrants and without any notification to the users. in fact the company has been trying to be more open and more transparent about all of these government requests by publishing a transparency report over the last few years but this has become an increasing issue because the requests numbers have increased. just in the last year alone, in 2012, the requests have increased to 17,000 alone.

and the company is just trying to be more open about it all, talking about issues and privacies and how this affects the company's user base. one of the company's lawyer posted on a blog recently authority to prohibitas the companies from talking about these nsl requests but we've been trying to find a way to provide more information about the nsls we get particularly as people voiced concerns about the increase in their use since 9/11. you have kind of two privacy issues with google, lori. on one hand, questions about how it uses its information to deliver ads. big picture how the government is getting access to learn about you as well. lori: is going little really the only search company being targeted? that is only one you mentioned. >> unfortunately no. google has been open and lifting the hood telling youers what they have been requested by the government but in fact microsoft is another company that raised

its hand recently, said, we too have been getting government requests. this company said in 2012 it received a thousand of these user information requests. pale in comparison to google which received 17 of them. but obviously this is growing issue and growing concern. that is one of the reasons google filed a petition in the state of california to determine whether or not this is a constitutional issue or not. lori: thank you so much. melissa: so as we do every 15 minutes let's check the markets. nicole petallides is on the floor of the new york stock exchange. nicole, stocks are coming back off the lows but still a rough week? really a rough week. we started off a new quarter. the month of april is the first month of the second quarter and right now there is a one-week chart for both the dow and the s&p. we're seeing both in negative territory. the s&p is down just over a percent. the dow is down frack alley. -- fractionally. you can see we've had a down week and back and forth action the downside has

prevailed at least so far. let's look a f-5 net works. this is the technology realm telecom software. they had to slash their views for revenue. what we're seeing here their guidance is below analysts and down 5% and cisco systems and other guys like june fer -- juniper. back to you. melissa: nicole, thanks so much. kfc is tray straying from the tried and true chicken on the bone and going boneless. they are announcing plans for original recipe boneless. off the bone and deep-fried, the same blend of herbs and spices. making me hungry. kfc is straying from the holy grail of chicken off the bone targeting millenials. this could mean the end of kfc's bucket of fried chicken on the show as restaurants move to sell a majority of boneless meat. how do investors react?

lori: could care less. melissa: shares of yum brand trading down. that is the parent company. you know what their slogan will be. i read this early day. i ate the bone. lori: oh that is just, that is loaded. melissa: like, where's the beef but it's not. lori: oh, i didn't even go there. that is so outdated. they're still frying pretties or whatever. how is this healthier? melissa: it is more, just like make it more appealing, less of a mess. lori: more appealing? that is the fun eating drumsticks with the grease and --. melissa: you know. the bone kills me. lori: 60 years for kfc since they did something this risky. good luck to them. melissa: true. lori: americans are desperate for work even willing to pack it up and move for a job. moving company mayflower next with how this is helping its business. ♪ . @

lori: well americans are on the move and that's good news for moving companies including our next guest. mayflower's residential moving businesssjumping 16% in the first quarter over last year. the ceo, rich mcclure joins us now from st. louis. rich, welcome. congratulations on the quarter. what do you attribute the gain to? >> thank you. good afternoon, lori. i'll tell you what. we noticed this trend of first quarter being up 16% and others in the industry are up around 5%. so mayflower is the best known name in moving is experiencing a good quarter but we wanted to know why. and so we went out and took a look at the data.

we surveyed a 1,000 respondents. we found out people, half of the respondents say they're much more comfortable buying a home or considering buying a home than they were five years ago. clearly there is optimism in the home buying marketplace. lori: do you think the dismal jobs report today and other weaker economic data points of late will change that vote of confidence you're describing? >> well, i think still the economy is basically muddling along. fundamentally the jobs report reflects that but there is data from the national association of realtors show home buying is up 10%. home prices are starting to recover as the foreclosures get out of the marketplace. and so i think there is a bit of a bumping going on here and certainly we're seeing that. in fact, you know, a third of our respondents say they are comfortable considering a move now, whereas before, because of other concerns, economic concerns, primarily they were less likely to consider a move. lori: new and existing home sales you're exactly right

have been positive and growing. where do you expect business to go from here? do you expect another 16% quarter? >> well, i think there is some pent-up demand. so we do expect a very busy season, most of our business occurs in the five or six-month period in the middle of the year. and so we certainly expect it to be very busy. so we encourage consumers as they think about relocating, to follow some very basic principles. first of all. go with a well-known name. unfortunately there operators out there. they operate primarily on internet. you have to be very careful about pricing you get. we encourage folks to get in-home estimate, to get referral for a friend and neighbor. also to look very carefully as doing some of the moves yourself in order to keep the costs down. lori: tell you great advice. rich mcklauer, the ceo of may flower moving company. >> god to talk to you. melissa: we are here to

discuss samoa airlines on their new pay by weight policy. lori: ask him how much he was. melissa: tracy byrnes and ashley webster dig for answers with steve wood of oppenheimer fund and jerry webman. we'll be right back. [ male announcer ] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already hav ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flhing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erecti lasting more than four hours. stop taking viagra and call your doctor right away

if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. see if america's most prescribed ed treatment is right for you. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it wodwide. [ 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: hey, welcome back. i'm tracy byrnesers i'm ashley webster. stocks cutting their losses a little. tumbling on word that the economy only created 88,000 jobs in march. that is not the only troubling number in this report. our all-star panel, are here to weigh in on the markets and the economy. tracy: can't wait to hear what they have to say. president obama targets the retirement savings of high earners and smart investors

to help cut the deficit. former congressional budget office director don marin will grade the plan coming up. ashley: pennsylvania's governor wants the keystone state out of the booze business. governor tom corbett will discuss why the move will help the economy and schools. what a day for the market after that miserable jobs report. stocks selling off on the disappointing report earlier today. nicole petallides on the well, floor of the new york stock exchange. nicole, we're off of our lows but we're still kind of in the malaise, aren't we? >> you call it a miserable jobs report and i'm sure people who are home and looking for work and not getting it are feeling pretty miserable for now as well. we saw a jobs report at 80,000, well under the estimates as a result of 200,000 jobs. here's a look what is going on here. safe haven of gold to the upside. 26 bucks. dow, nasdaq, s&p selling off. oil also lower. when you look sector to

sector you're seeing down arrows across the board. when you have no job, i mean there is not going to see a booming economy. everything is interrelated for sure. look at dow one-week chart on a day today, where we're seeing drugs and banks everything to the downside. the one thing i can say we have improved and we are up off the lows but we're still weak to the downside on this new first month of the second quarter. april begins a new quarter. so we are seeing it lower even though we have the back and forth action. vix, back and forge action since march 20th we've gone back and forth. yesterday and today are no different. yesterday we were up. today we're down. back to you. ashley: picks up half a percent. nicole, thank you so much. tracy: but still historically low, right? ashley: yeah. tracy: today's unemployment report shows the weakest job creation in nine months, far below expectations. peter barnes is in washington with details. hey, peter. >> tracy let's keep it simple. hiring just hit a wall in march after decent increases in previous months the

economy creating just 88,000 jobs in march, less than half of what economists expected. unemployment rate unexpectedly dropping to 7.6% from 7.7 in february but that was mainly because half a million people left the labor force in march for one reason or another. discouraged or some other reason. almost every sector showed slower growth or job losses last month. manufacturing fell by 3,000 jobs. construction added 18,000 but it had jumped 50,000 in february. retailers cut 24,000 jobs, which may reflect that 2% increase in the payroll taxes that took effect january 1st. >> the end of the payroll tax cut is one of the headwind that the economy is currently facing. that said, we've seen pretty strong retail sales data. we saw very strong auto sales data the last few months. >> the white house says not to look at just one month of jobs data. one economist did take the

longer view. >> the first quarter average of around 170,000, that is not a whole lot different than it was in q4. i think the biggest takeaway, more of the same for employment. >> and so that means more of the same from the fed. the fed is going to keep its foot on the gas with all of its stimulus and low interest rates and quantitative easing, with these kind of numbers. ashley and tracy. tracy: peter barnes, thank you very much. ashley: peter. joining us now, with more how this weak jobs data will affect the economy and market. steve wood, russell investments chief market strategist, jerry webman, oppenheimer funds chief economist. jerry, i want to begin with you because i want to talk about the broad economic implications of this. this shows to me the economy is weakening just as the federal budget spending cuts could kick in. what can we expect going forward from here? >> you know, i think we're getting into another one of those second quarter weak patches. i'm a little, i want to be a little careful.

last time i was here we talked about the number could possibly be so good. ashley: yeah. >> we said, statistics. it is weird to me they revised up february numbers as much as ttey did. i would have expected to see that revised down. i want to be a little careful. you obviously with that said, look at the adp number and ism numbers which are still positive but less so, look at claims. we're getting into some kind of soft patch and the fiscal drag is starting bite. tracy: as we heard more of the same means more of the same, right? that means liquidity will keep coming. jobs numbers are anemic at best. market will keep taking off i guess if we're going to keep pumping money to so you have to be in it, right? >> i think so. we're getting pricey a little bit ago. last time we spoke we're at the top end of our range for equities by the end of the year. tracy: right. >> pullbacks are normal and they can be opportunities as well. i think you're right. the federal reserve will not be taking their foot off the

accelerator anytime soon. i will take bernanke at is word, and january net yellin will be next head of the fed that is the online favorite. we're tapering going from 85 to 50 billion a month fed is purchasing. raising interest rates is long time off. that speaks weaker dollar. you want to see equities as a way to create real rate of return. ashley: you're not getting it anywhere else, are you. >> no you're not. ashley: equities is the way to go for sure. do we see this perhaps as the beginning of a correction and this is the time as we get early next week to jump in and actually take part in this bull rally? >> so i don't know that i would jump in. ashley: there is lot of money just much itching. >> the conversation we've been having we want to look at. money is coming into equities. there are two ways to look at. is it cash coming off the sidelines at zero moving into equities, or, are bonds being sold by equities. those are very different

things. rotation might -- >> so far it's cash. we have not seen people coming out of bonds. at some point i think, and it won't happen obviously this month, people look at statements said, oh, my goodness, bond prices go down when yields go up. yields will go up and people say that safe patch, there is bigger problem with bond and that's inflation and at one point -- 1.69 wherever we are, you're losing purchasing power every single day you own. tracy: there is bigger problem. 500,000 people stepped out this month and said i'm out, i don't have a job. i'm not going to look for one. are these accommodative policies making people lazy? it is much easier to take the check, is it? >> there is not much of a check left out there. tracy: i agree. >> a lot of people are retiring. we know there are threats, anybody who thinks, listen, i'm 6. i can start getting medicare in couple years. if i think that, if, i'm blessed to live another 20

years i will get the medicare benefits that somebody who is 85 now is getting i'm dreaming. tracy: right. >> so you're going to have to provide for ourselves. i don't think there is so much of a check to go off on. a lot of that 500,000, that are really ppople who are retiring. ashley: as we absorb this jobs report today, we know the president is coming out with his budget next week on wednesday. we know it will include more tax hikes on the wealthy. what's the implications of that? >> we're seeing these fiscal breaks. ashley: yeah. >> for some republicans are slamming the right brake and democrats slamming left brake by cutting too much or raising tax but it is braking on that economy. i think globally diversified multiple asset strategy. this environment speaks selection, better companies, stronger balance but you need to be disciplined. tracy: if i'm well think why do i want to be in this market because they tax any gains i make? why not get the heck out of dodge. >> at zero percent interest

rate world you're getting nothing on. you need to be in diversified portfolio. >> rather get 8% and get taxed and still nothing and get taxed on it. tracy: so awful. less of all evils. >> government is lesser of all evils. >> i always wand ban -- want to be the moderate voice. we didn't raise taxes as much as left was threatening to do. it is that ugly new year's eve compromise more of american way of incremental policy make making. it wasn't very good and it wasn't as bad as we feared. it probably means investors need to look for earnings growth and as steve said --. >> that is a good point. what are we looking at next earnings season and what are businesses saying about hiring? what is going on in washington preventing them from spending and making plans. >> not openly bond versus stocks but america compared to europe. america compared it europe. ashley: looks great.

>> from corporate perspective we look pretty good. i think the u.s. will generate a premium because we're higher quality in equities even in government pond. -- bonds. earnings cycle is here. i don't know i would go diving in. ashley: dip your toe. >> look at u.s. and branch your way out. >> notion the decisions we made were less bad is just really pathetic. ashley: best of the worst you mean? tracy: exactly. could have been worse. we could have fallen off the cliff. >> we walked our settles into this. tracy: i know but -- >> got us into this situation for three decades. if we think there are going to be easy solutions out of it we're kidding ourselves. tracy: i don't know. ashley: gentlemen, thank you so much, steve wood, jerry web man, we have so much to talk about. you guys will be back. thank you. tracy: because we got to keep watching these markets. every move to the close. plus we have much more on the budget. former cbo director don marron will examine the president's new plan and take aim, he is taking aim

at high net worth retirement savings which is crazy. ashley: plus, pennsylvania governor tom corbett tells us why ending the state's 80 year liquor monopoly makes business sense. i think it does. we'll look how oil is trading on this down day on the dow of course and oil in kind dropping. you would expect that. down about 55 cents at 92.71 a barrel. we'll be right back with the spark miles card from capital one,

bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce devery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh!

[ garth ] great businesses deserve limited reward here's your wake up call. [ ma announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? ashley: welcome back,esque. a quick market check. the dow is selling off on the rotten jobs report. the it was down as much as 150, 160 points. down 95 points, all in the red. the only green arow is gold. people running to the safety of gold as you can see. that is up nicely on the day.

tracy: hmmm. remember those predictions for a great rotation out of bonds? ashley was just --. ashley: i don't buy it. tracy: i don't buy it either. they may have been freightly exaggerated after all. ashley is smart one. ashley: there you go. tracy: liz macdonald is smarter and she is here. >> getting up on me? tracy: you're done. you can go. >> not yet. i think this is early, right? what is happening, take a look at numbers. this comes from thompson reuters. you see bonds keeping pace with stocks. cash flow into bond funds, 76 billion. that is pretty great. look at stocks, 78.9 billion into stock he can get funds that. is interesting, right? so the thinking is, hey, oh, what was the theory was the great rotation. the federal reserve, of course buying bond and bonds prices would crater once the fed moves out of that that.

that is not the story lien now. people have been burned by equities. they're still edgy over the financial collapse. pension fund, institutional investors like insurance people, insurers are coming into bond funds instead. pimco, vain guard, loomis sayles are saying cash flows going into their funds. they're confident for the whole rest of the year. tracy: it is not, going on my own personal experience, it is laziness. ashley: it is. tracy: by the time you get the paperwork to switch or do whatever you got to do, you do that. the other thing not as though they will flick a switch and rates will go through the roof in one day. >> that's right. it is interesting where it is coming out of money market funds. low micro pop i can bond funds into yield funds because the hunt is on for corporate junk bond debt. other thing, fears over north korea may be overplayed. the other thing too quickly, you look at treasury international flows. this is really interesting. this is what the wall street

is looking at. money is coming out cyprus, greece, russia into your u.s. stock market and bond fund and not just condos in los angeles or new york or miami. tracy: why? again because -- >> we're the safe haven. even equity in bond funds. ashley: great stuff. tracy: certainly can can't get good yields these days. you can't beat it. >> thank you. tracy: super smart. ashley: she is no doubt about that. talking about super smart, let's go to nicole petallides on floor of the new york stock exchange another super smart person making perspective of what is poor day among major indices, nicole. >> thanks ashley for the compliment. this is real interesting job, because all day long i read and talk to traders who make light of what we're seeing today. right now you're seeing the dow jones industrials off 97 points, up off the lows. but still a tough week, right? we're down for the week on the major indices. all down arrows in this

second quarter. look at jobs report this morning it was a complete dis.maept. look at names related to job staffing and at both manpower and on assignment. they're both down 3%. manpower based in milwaukee, wisconsin. on assignment is in california. manpower, 60% of its business comes from europe. the sentiment is certainly negative. there is no confidence here at least at the moment getting numbers like we got this morning. back to you. ashley: nicole, very true. thank you. we'll be back with you of course in 15 minutes. tracy: we'll keep watching these markets every move until close and also ahead, we've got to talk about the president's new budget targets on upper earners and winning investors. former cbo director don marron will weigh in on the plan next. ashley: first let's take a look how the u.s. dollar is moving in all this and it's down against the euro. tracy, it is getting more expensive to go to italy every day. euro back above 1.30 right

now. 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 bank 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 21 minutes past the hour i'm arthel neville with your fox news minute. rutgers university athletic director tim pernetti

resigned calling it a mutual decision. rutgers president said pernetti offered his resignation, it was accepted. pernetti said after seeing the video showing former basketball coach mike rice verbally and abusing players his decision to try to rye hab tate rice instead of firing him was wrong. a majority of americans say the u.s. should defend south korea. according to a gallup survey said america should use force to help south korea. 35% said the u.s. should stay out of the conflict. 10% were undecided. those are your headlines. i'm arthel neville. get back to tracy and ashley. tracy were those your daughters? tracy: they're dropping things. breaking things. all the random noises you hear are most likely my daughters. ashley: they're waving in studio. tracy: here they are. we'll take a quick check on the markets now.

not so funny. dow and s&p 500 both down, headed for a losing week. that jobs report discernly didn't help much. but i guess, ash, we've been hearing for a lot people it is time. the market needed a little bit of a breather. maybe this is it. ashley: we're wondering what the catalyst would be and now we know. tracy: i guess. ashley: president obama will release his budget next week and fox business learned upper earners retirement accounts will take a big hit the rich edson at the white house are more. >> some calling it a shot at mitt romney after a few months after the election because of mitt romney's large retirement accounts released as part of his tax return. what the president is doing is limiting size of retirement accounts to $3 million. there is also a tip perhaps the president will go after high income earners again. the possibility there, if you look at the president's previous budget he will limit de, it deductions for higher income earnings. there is change when it comes to social security. that is something that house

speaker john boehner basically says the president is holding entitlement reforms hostage for bigger tax cuts or bigger tax increases, excuse me. and the president's proposal to slow the growth of payments on social security doesn't go far enough. well the white house has just responded. >> when he talks about holding entitlement reforms hostage, his proposal, the proposal he endorsed, that the house passed, that chairman ryan put forward, eliminates medicare as we know it, voucherizes the program, shifts cost i believe, forget the exact figure, 4 or $5,000 on average to seniors, annually. unnecessarily. >> while republicans is a i the white house isn't going far enough on entitlements, one senator says he is going too far. this is senator bernie sanders. he caucuses with the democrats and he is independent technically. owe is terribly disappointed

and do eveeything in his power to slow the growth of social security and veterans benefits from passing the u.s. senate. a fight on both sides for the president. just a few details have come out. we'll get the president's full budget on wednesday. back to you. ashley: a lot more to fight about i'm sure. rich edson at the white house. thank you. tracy: for more about this, our next guest, donald marron, a former member of the president's council of economic vees source and former director of the con aggression budget office and urban institute tax policy center. quite a business card you got printed up there, sir. don, thank you for being with us today because there is a lot going on but off the bat, what do you think of the budget? >> we won't know until we see it for real next wednesday. sounds like the president is going back to the deal he offered speaker boehner a few months back and adding a few bells and his silts. tracy: the bells and whils sills we're talking about

hitting high income people and retirement accounts. that came out of nowhere. >> this is something that arose during the campaign when people were stunned to learn how much money mitt romney got in tax advantaged accounts. we don't know exactly how much. people said it could be as much as $100 million. the president's proposal would limit that to sound like three million which is significant amount of retirement assets for anybody. in the grand scheme of fighting over revenue though it is not that big of a number. it is $9 billion over 10 years. tracy: sew the things that really could make a difference, social security and medicare were barely talked about, right? we're talking about really no major cuts to medicare. we can start with that. actually expanding it to low income adults. >> well, as i understand it though the president's proposal does have various reductions how much providers would be paid in medicare, somewhere in the neighborhood of several hundred billion dollar. >> to the drug companies, yes. to drug companies in payments but higher costs for high income beneficiaries. >> yeah. i mean that's one of the big challenges if we're going to look for savings on the

medicare side how do you do it? one way is to ask higher income folks to contribute more. that is something you've seen interest on both side of the aisle. and then the president does go out and touch social security with this proposal change the way benefits are indexed. it is not something that exclusive to social security. it would affect taxes. people would have to pay more in revenues and would affect other government programs and that is something that caught the attention of a lot of folks here in washington. tracy: he and john boehner were going back and forth on benchmarking to cpi before but overall we're really looking at again trying to come up with money from wealthy, trying to redistribute it down to the lower income folks. >> yeah. i mean the president clearly believes that more revenue is necessary and he would like to see some of that come from high income folks. we haven't talked yet about the major way he would do that which is proposal he has had in recent years in his budget to reduce the value of tax breaks of high income folks take. tracy: right.

>> reduce benefit from mortgage interest deduction, giving from charity, from health insurance, from municipal bonds. that is something consistently had in the budget. appears he will have that on wednesday. tracy: would love it talk to you at the last minute about this, you do have extensive tax background. what happens with tax policy? we continue to tweak it. we continue to make a mess out of it. >> our tax system is pretty darn broken. i'm encouraged here in washington cha chairman camp and others are pursuing a detailed sincere effort to figure out ways to improve the code. it could be a lot simpler. it could do a lot less to harm the economy. if you make intelligent choices you use it to raise more revenue at the same time. tracy: if only, donald marron thanks for sharing your thoughts. >> thanks. ashley: stocks trying to cut some of the losses before the close. we have live trader reaction from the new york stock exchange next. tracy: plus we have a report of trouble aa a multibillion-dollar teamsters

pension plan. gerri willis will report on the possible big money short fall. that's next. but first as we head out to break, let's look at some winners and losers on the s&p 500 today. there are some. nabors industries is one of them. up almost 5%. we'll be right back. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused.

tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platformrom charles schwab... tdd#: 1-800-345-25 gives me tools that help mfind opportunities more easily. tdd#: 1-0-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. td: 1-800-345-2550 until i choose to focus on somethinglse. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-751-3261.

understanding you clearly... what is the capital of zimbabwe ? ... the first time you ask with the google voice search. the droid razr maxx hd by motorola. droid recognition. droid powerful. 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: people were hoping that it would close sooner we only have two stocks on the green american express is the big loser down but health care stocks are still holding on. as well as caterpillar and we have nicole petallides at

new york stock exchange i was just chatting and we were talking about we had a great market run and people were talking doubt 15,000? >> but it does not they gate the fact there is cash on the sidelines and people are looking at that over the last four years they have taken out so there is not a big supply. >> but he thinks the trend is to the upside? >> i think so. people are looking for the opportunity to get back again. this is a bad number, no question that we have to give it more numbers to see if it is a trend. >> 8q so much doreen. we don't like that term but if you see the pullback you can say this is what i

should have bought a 14,500. >> a lot of people were waiting for it. ashley: is it a buying opportunity? an interesting story and a massive plan has reached critical status that some companies are pushing employees to withdraw from the fund. gerri willis is here with the story. >> if they do that then they will only hasten the demise of the fund. it has $0.60 for every dollar of obligations with pension benefits in what is going on during the of meltdown they lost money in virtu heavily invested and now they pay the price. as you know, , people don't have pensions any more than half 401k and put up hour own money for retirement and without the care it would be more difficult to get union

workers. this is the pension it gets people to join the union that we cannot afford at the end of the day. the pension benefit guaranty corporation stands behind the and and if they go belly up we will pay the price. ashley: how close are they? it is in dire? >> people are pulling out and as each company pulls out they want to about 800 sanitation workers every time you pull out people that is less money to pay out but the fund continues to shrink and the obligations grow and the taxpayers are off the hook. tracy: a microcosm for the united states. >> nice in sight. we have a critical story tonight we talk about president obama is planned to tax your 401k. we will be all over that the

retirement fund you thought you were safe it did not even rely and other people. you put the money away the government wants to put their hand in that piper you can tell how i feel. ashley: you don't like it. the oil report tonight at 6:00 and 9:00 p.m. right here on fox business. closing down tonight it marks the third straight day of losses for crude down $0.56. for the weekend is down 5% in has been a rough week with bad economic data. tracy: i do not feel it. they raise the prices when i pull in. we have a special edition of countdown to the closing bell coming up. is claiming is live at the raymond james trading floor

in st. petersburg florida. you chef picked one in alaska. >> we picked the right trading floor for a day like today. it will be rocking and rolling final hour of trade. come down to the closing bell be moved so whole show here for raymond james, one of the top 20 brokerage firms in the world they have a huge government bond debt debt, a fixed-income debt that is for we are on we have equity, the ceo, we will talk to him about the brand new at acquisition they finally absorbed morgan keegan which was of billion dollar acquisition. how was that going? especially on a day where we have the jobs number that looked so unbelievably pathetic but paul reilly will be with us to talk about traders they are big

with many bonds as well and what time did they start to see the bottom feeders come in? people say now the market is cheap with such a sell-off you can see how much it has come back and we are near tampa so why not bring in one of the top of businesses? the sports licensing division of the gigantic corporation of apparel and they have the big stake in the final four guess which team matters most? and all of the jerseys i know your kids are into sports stay tuned we are live from the raymond james trading floor with a fox business exclusive. >> we will be there. big baseball fans in my house. ashley: getting the losses in half but under pressure

with the last hour of trading we will have a live update next. tracy: pennsylvania governor talks about his plan to sell hundreds of state-run liquor stores that will help the children of pennsylvania. but first look at the 30 year treasury. we will be right back. helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needingo go frequently or urgently. tell your doctor about all your medical conditions and medicatis, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do do not drink alcoholou takin excess with cialis.ain, side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help

for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial.

>> a disappointing jobs report from the government sparking a selloff on wall street moving lower right now the dow is moving lower. [laughter] more bad news for fiske your that is laying off all employees. has not produce any cars since last july after the supplier filed for bankruptcy protection. it is trying to renegotiate a loan payment with the department of energy which is due on april 22nd. southwest airlines' ceo pay went up 15% in 2012 due to the bigger stock award but the airline did say his salary is below average for leaders of some other companies. southwest is the fourth largest airline. of. this is the latest from fox business, giving you the power to prosper.

ashley: a quick market jack that has to be said that dow keeps cutting its losses it is off 74 points the s&p is off and the nasdaq up 1% oil is down nearly $0.5 on the week but look at gold. people running for safety it is up $27 of the day. tracy: nbc has had plenty of troubles with "the tonight show" but they have a bigger problem dennis neal has the story with some good stuff. >> the "today show" tumbled again 16 years number one in the morning with 882 weeks and no one year ago now comes news "good morning america" ended the first quarter on top with total

viewers and the key as a target it is mighty in the morning it has gained five point* 4 million that is 14 million more than the "today show" and gets 2.4 percent edge over today although and rakes in $400 million per year in advertising but here is how trouble is. last time "good morning america" won the ratings was 20 years ago in 93 and abc won every single week of the past quarter in the third consecutive quarter in which gm may be today with total viewers. supporters was for complaints that dna has exploited the life-threatening illness of the host robin roberts never mind the "today show" retrenches years ago when katie couric has been died

of colon cancer but gm eight realize on the full entourage while today relies heavily on matt lauer and lately his like ability ratings have plunged they blame him for the ouster of and curry the cover story last week had and i felt her back so no wonder they are flirting with anderson cooper to talk about adding him to the "today show." >> it is like a soap opera. >> i know people just do not like him but yet he has done a great job and has held the job long time. do know how hard it is to get viewers to like to over 10 or 20 years? they don't like we for one week. [laughter] if they get rid of him just watch for him to show a p has been talking about a job on jeopardy. tracy: nobody is crying over

matt lauer. ashley: i am. just one hour left in the trading day let's head back to nicole petallides at new york stock exchange we are recovering off a low of the day 100 points below this it was 14,434 many points of where we are now and we have recovered a lot of losses but we are still to the down side. looking over at the telecom company giving guidance that is very weak and below analyst estimates taking cisco systems down with it a lot of the analysts have jumped on board all cutting the numbers but you never and riverbed those that are

in the same industry you can see it the others to the down side. but they all have down arrows. tracy: we'll keep watching the markets in tow the last minute we have one hour 15 minutes left in the trading day. ashley: pennsylvania and the control over liquor sales will help the economy and governor corbett is here next. look at the winners and losers on the nasdaq. we will be right back.

tracy: and down 80 points the s&p 500 have cut the losses for the day but still headed for a losing week that is an ugly turn to an oil fell 5% off of the weekly decline ending september 21. ashley: pennsylvania governor -- governor corbett wants to break the monopoly on beer and liquor and wine sales that would provide a boost for pennsylvania schools he joins us now from the state capital harrisburg thank you for joining us. i would like to get to the alcohol issue first but you try to privatize the liquor business why is the state still in the business and what are you proposing? >> that is a question i had wires still in business that the private sector can do better? because it was created that

way 80 years ago by governor and a general assembly that thought we should stay in prohibition to make it as hard as possible to buy wine and liquor. we are proposing to sell off a wholesale portion and retail and let the private sector come in and purchase and sell both liquor and wine. we will have it in different locations. it has passed to the house for you could buy wine and beer in an grouchy stores for the first time in the last 80 years you can also buy a liquor at the beer distributors and also very as convenience stores we are trying to move into the 21st century. we believe it will bring between 800 and $1 billion with the onetime sale only in we want to address that in education with a passport for learning.

block grant program to the 500 school districts of pennsylvania for science, technology, enginee ring and math grades six through 12 or for school security or getting children ready to read to do math by third grade at a third grade level which is called ready by three or various individualized learning programs. we want to invest the money in our future and provide what is choice and convenience to the citizens of pennsylvania to buy alcohol but also to the visitors who are stunned at the antiquated nature of our alcohol system. ashley: on the pennsylvania and utah that have complete control over sales. moving onto pension reform you are facing massive unfunded liabilities i think right now the total retirement benefits to be paid out exceed total assets

by $41 billion. what is the answer to address that? >> we are proposing legislation that will adjust what we have taken in over the last decade to address the market that has affected everybody. that will reduce the amount of money we need to pay in each year at this point*. right now we put one point* $6 billion in to our pension fund for the two different tensions we run. that climbs up four point* 3 billion by a 2016. the economy is not growing that fast to cover that so there is a formula distribution and needs to be adjusted. we would also like to take the new people coming into the state education system and the state employment system and put them in to a 41k -- borrow 1k system also

anti-spiking provisions with overtime and accumulation stretching out the last few years what the high gross average is. there is a number of different proposals introduced but it is something we need to do if we will continue to grow our economy at the same time provide more money in areas like education with roads and bridges and so forth. ashley: it appears you just met this week with health and human services secretary kathleen of millet -- kevin sibelius. can you afford to expand medicaid as the law requires? >> as i continue to read it it, it is difficult it is a hundred thousand more people. we will go from one to add a sixth down at one out of four on medicaid.

pennsylvania is number two per capita percentage rise. we're looking to see what availability there is for flexibility for block grants but right now i'm keeping an open mind. i am listening to what the secretary has to say. we made some request and asked many more questions. more questions than answers but no decision has been made. ashley: thank you very much for i know you're on a mission to brazil and chile. hopefully you can get business stirred up as well. governor corbett thank you. tracy: i went to college in pennsylvania. we have to go back to florida. is claiming is down at the raymond james trading floor with the up front reaction of the numbers and also the ceo with a fox business

exclusive. countdown to the closing bell is next. don't go anywhere. ♪

if you have high cholesterol, here's some information that may be worth looking into. in a clinical trial versus lipitor crestor got more high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high clesterol plus any of these risk factors because you could be at increased risk for plaque buildup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announr ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. is your cholesterol at goal? ask your doctor about crestor. [ female announcer ] if you can't afford your medication, astrazeneca may be able to help.