not everything is a party. there are more people quitting their jobs. we will see what dan heidegger thinks. the business of taxes. grover norquist coming up. extreme investors are talking about something called the bitcoin. the latest from our old friend coming up. we are talking about who raleigh. much more coming up here on markets now. ♪ connell: grover norquist is

standing by. there is also this report out that that the irs can read your e-mails, tweets and tax. judge andrew napolitano will be here a little bit later on. stocks with nicole petallides. nicole: though both keep running here on wall street. we are getting closer to 15,000. no worries here. majority of dow component well into the green. names like hewlett-packard and microsoft are under pressure. about 20 negative dow points.

slow down qe. the number one headline is we are close to golf 15,000. connell: we will stay on top of that. we also want to talk about the job market today. the estimate was for 365. that was better then the expected number. the number of americans quitting their jobs is now at its highest level. believe it or not, this is seen by many people as a good sign. good to see you, dan. if i quit my job, i am confident enough i can find another one out there. what do you make of this? >> i saw this story.

i looked at the report and most were in the south. they were in categories known as accommodations and food. i think that is hotel workers and fast food workers. connell: one of them maybe they are going back to school because they feel like they do not have the skills to compete in this job market. there are jobs that are open, but not the ones that are suited for them. >> i think that is a large part of it. the jobs market is clearly very weak. this is probably the biggest ticking time bomb in politics right now.

he has 48% disapproval. on the economy it is 50% disapproval. people no children who can't get jobs, uncles who have been thrown out of jobs. connell: what worries you most about it? >> the most downward long-term impact. i was astonished to encounter a study done by the center for american progress. this is the progressive, left wing think tank. they point out in detail how people who are unemployed now or underemployed are losing lifetime earnings. connell: young people. >> young people.

exactly. even if they are concerned about it, it has to be a serious problem. i think the biggest problem is we have had, at best, 2% annual growth for the last four years. we need to be up to three or even 4%. the president's budget increases spending and increases taxes. he has to answer the question how that is going to get us back

to 3.5%. connell: thank you. to kick off what is going to be a day of reporting on your taxes and the business of taxes here in the fox business network, before we get to grover norquist, let's go to rich edson. rich: democrats and republicans acknowledge or at least pay lip service to the fact that it needs acknowledged. there is major skepticism on capitol hill. >> any avenue to reduce tax reform, i am on that street.

it could be a opportunity to get the process and procedures to move tax reform through congress. rich: they want revenue neutral tax reform. you use that money and you lower tax rates. that way they can re- collect and create the same amount of money that the current tax rate does. the president's budget asks for closing $580 billion worth of tax preferences and loopholes before tax reform even starts. their knowledge that it really is not revenue neutral. >> i believe that we need to do both individual and tax reform. in the context of overall tax reform can't to be clear, we do

not take it can be revenue neutral. we think there needs to be additional revenue to help get our house in order. rich: you can pretty much safe democrats and republicans are $580 apart on this. connell: thank you very much. let's talk more about that with grover norquist. he is with us from our bureau in d.c. follow-up on the comment you just heard. >> lower marginal tax rates, a broader base, revenue neutral. not a trojan horse for higher

taxes. they want to illuminate reductions and credits and spend that money. they want to take them and spend them. once you have done that, then we come back and there is no tax reform. you have taken those deductions and spent them. the big question is, do you eliminate them and have tax reform or do you eliminate them and spend it? connell: i think we know the answer. even when the president talked about his budget yesterday, if there was an olive branch in it, it is the possible cutbacks in terms of medicare and entitlements. on taxes, if the president will

get a deal, he will give these entitlement cuts such as they are if and only if you raise taxes on the wealthy. we are not going anywhere, are we? >> no. the president has known for three years now that the party wants to reform government a month not raise taxes to avoid reforming government. obama spent the first two years of his presidency spending more reforming nothing and raising taxes. obama would not do any reform so the republicans just turned rationing down. the sequester, the budget caps, those are real reductions from obama's wishes on spending. unfortunately, we have a president who would rather raise taxes than reform government.

the democrats run illinois, california, maryland. they raise the income tax and raised the sales tax rather than reform their pension problems. in other states, wisconsin, utah, louisiana, they are reforming their pension systems and not to raise taxes. connell: grover norquist, as always, thank you. >> good to be with you. connell: jackson hewitt chief tax officer will be on with cheryl and dennis and the next hour of markets now. for japanese automakers are recalling nearly 3.5 million vehicles. the airbags are at risk of catching fire. they were all manufactured in or after the year 2000. no injuries or deaths have been

reported as a result of that. let's take a look at toyota motor shares. actually, along with stocks in general. let's talk a little bit about this bitcoin. look at this drop. the underground currently with a hit yesterday. $120 is where it is trading. the major online exchange claims it is having such a massive following. the online exchange is having exploding volume. they said it led to some panic selling. bitcoin. another denial of service attacks. we talked about some of the risks here. tomorrow, the bitcoin business, we will be here in new york at a lounge and restaurant called

ever. one of the first restaurant that except bitcoin. tablets and smart phones killing the demand for personal computers. we will see if there are some hopes for companies behind the desktop. we will also talk to mark fahlberg. the most brutal prediction yet. no collapse today. we will have more on that straightahead as well. ♪ [ male announcer ] it's simple physics...

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connell: charles payne. no more worked up about the market rally then charles payne. he is coming up. let's go back to nicole petallides for markets now. nicole: we are only a couple points away from the highs of

the day on the dow jones industrials. we spoke about pfizer yesterday. today moving to yet new highs today. fc, toyota motor, as you look at disney also, they are doing good. another 52 week high. in some cases, all-time highs. connell: a lot of green. charles payne is here right now. always has good pics. the pressure is on. tell us about vista print. charles: i am sure you have seen the commercials before. i like this on for a whole another reason. i mentioned it last year. recently, it is $2.47 for next year. these guys cover all the big

areas. growth was up in the fourth quarter in america. i like everything about this. what i didn't like was marketing expenses were higher. longer-term, this is a company, by the way, wall street looking for 21% over the next five years. i can only find one by recommendation on this. that is good news because these guys are usually wrong. they will say, wow, this is not a bad business after all.

connell: you know mark fauber, he is coming on later. he will tell me that the collapses coming on the market. i should argue back, right? charles: absolutely. forget about the next 15 to 20% move on the market. where is the next 100% move coming from? keep that in mind. we have gone through a lot of crashes. connell: do not watch. i am going to phrase it almost exactly like that. personal computers are no longer in demand. the latest data out on that. we will look at how these desktop makers need to reinvent themselves. the irs says it can read your e-mails. that is right, judge. read your tax, read your tweets,

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♪ >> i am jamie colby with your fox news minute. the senate debate underway already on new gun-control restrictions. republicans want a roll call vote to settle the bill. they hope for a bipartisan compromise. that is cleared a procedural hurdle. when the boston red sox lost to the boston orioles it was the first time fenway park was not a sellout in almost ten years. the record streak of 820 consecutive games, the longest one began in may 2003 and it included postseason games. the previous record was 814 games and was by the portland trail blazers. augusta, georgia, a lot of excitement. the masters underway.

let's take a quick look at the masters leaderboard. we are keeping a close eye on that. those are your headlines. i am jamie colby. back to you, connell. connell: the post- pc era is absolutely in full affect. we talk about new technology all the time. the numbers that have come out are staggering. pc shipments are really seeing steep the client. these are drastic the kleins. >> they are big declines. this was not expected, unexpected, but a lot of analysts. as we go through the day, we will talk about who stands to make money and stands to lose

money. they ship roughly 76 million units. you have a gartner incorporated also. same kind of thing. a drop of 11% in the first quarter. a shipment of 79 million units. hewlett-packard. they saw shipments dropped nearly 24%. del sol shipments dropped nearly 11%. as the pc market the client, they'll actually gains share in the first quarter. what does all of this mean? you have bob o'donnell who says it seems clear that windows eight, they are blaming microsoft. it will provide a boost to the pc market and appears -- all the

changes from windows eight has made pcs a less attractive alternative. this is a big story and there is a lot more to talk about. i want to give you a quote. the pc is not dead. here is what they are telling us. "we ultimately do not believe that tablets are replacing pcs, but they are contributing to pcs being used less which in turn is pushing up the replacement cycle for pcs. this is a big deal." bernstein is expecting that to stabilize. we will talk about why that will have an impact on the share price of microsoft and hewlett-packard and dell. connell: thank you very much. when in dow, blame microsoft. we will follow up visit rally that we are seeing yet again today on the stock work it.

we always like competing points of view. we have one coming up. a collapse is coming in the market our next guest says. he also says that this run-up we are seeing right now is not healthy. the judge will also be here. whether or not the irs has the right to read your e-mails without permission. here are some individual stocks. hewlett-packard, microsoft, we will be right back. ♪ friday night, buddy.

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connell: market down with the rally continuing. let's get nicole petallides back from the new york stock exchange. rite aid is that a new high. i do not know if you have been to the drugstore lately, take a look at the stock. it is up nearly 20% today. the thing we should know, we sell the stock today at a new annual high. the highest level we have seen in four or five years. if you look at a ten year chart, this stock was nearly seven dollars. if you were in at that point, you were still pretty disappointed. they are seeing more sales, they are selling more generic drugs and prescriptions. that is good news for rite aid.

connell: the markets have certainly been on a tear here. the dow and the recipe up 10% a year. our next guest says it is not the time to buy stocks and even as they rally, so does the probability of another crash. on the telephone now is the editor of the gloom, boom and doom report. always good to talk to you. where do you see the biggest signs of trouble right now? >> we have very elevated corporate profit. we should realize that these corporate profits are where they are because we have huge deficits. we have money printing. the money that is being created from money printing and the huge deficit close somewhere.

it does not flow to the workers, it does not flow to the middle class. it flows essentially into a narrow group of people like steve cohen. he bought his condo in new york for $24 million in 2005 and it is on the market now for $23 million. connell: is there some sort of an immediate trigger or some sort of a shock that brings all these forces and leads them into a crashing market or just an overall crash of financial market? >> basically, when you print money, the money does not flow into the economic system evenly. we have the housing bubble, then we had a commodities bubble in

2008. now we have some money really flowing into u.s. equities. not equities across the board worldwide. connell: the question they have is -- >> i love it. we are just climbing to a higher diving board. connell: oh, my goodness. >> if we do not get the correction in february or march and we go straight up, the probability of a crash increases connell: you love it because you are trying to profit off that? >> i have not shorted u.s. stocks yet.

given the technical position of the market, it is over both. it has the feel of a bubble developing. connell: you expect a 20% drop or more? >> probably more. it depends on how high we go. i would not be surprised to see a 30-40% the kleins. connell: let me end on that. our own market analyst wasn't here and i told him you were coming on and you would make an argument similar to the one you just made. he said, longer-term, where is the next gigantic move going to be? where would the next 100% movement be? the next 200% movement be?

>> to the upside. in the fall of last year, i turned very positive about japanese stock. a stock has doubled from november 2012 and today. we have a big move in japan already. i think we have entered a bull market. now, i also expect a correction in japan. we have kind of made a major low that began in 1989. we essentially are in a 24 year bear market and now the uptrend could last for a while. connell: that is interesting. longer-term, you agree with him

that upside is the place. you follow this whole bitcoin craziness? >> yes. i am not investing in it because i prefer gold. i think we may still correct somewhat more on the downside in gold and silver. given all the money printing that is happening that not just in the u.s., but globally, i would imagine that gold is an attractive opposition. connell: thank you, mark faber, as always. we will talk to you soon. >> i pleasure. connell: we will get to the judge, andrew napolitano. the story about whether the irs can check your e-mails and do so without a warrant.

we also have the former house secretary. he is with us to talk about the foreclosure numbers. it is all ahead on markets now. ♪ @

♪ >> hello everyone. i have your fox business brief. mortgage rates are lower for a second straight week. the average rate is 3.43%.

it hit a record of 3.31% back in november. mark zuckerberg is launching a political group aimed at revamping immigration policy boosting education and scientific research. he made the announcement in the washington post. reid hoffman is among the tech leaders also backing the group. taco bell is focusing on a healthier menu. they want 20% of the meals to meet a third of the dietary guidelines by 2020. they say the younger customers are asking for the changes. that is the latest from the fox business network. giving you the power to prosper. ♪ ♪

[ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. connell: the business of taxes.

in some cases it is like the business of spying. they say the irs does not need a search warrant to public access of peoples private e-mails. judge andrew napolitano is here. >> they are not unique and government entities to claiming their ability to do it. all the documents came out yesterday. four days before everyone's taxes are due. this is extremely topical right now. if you send me an e-mail, you do not have an expectation of privacy because you reveal the contents of it to me and the

people who got it to me. connell: why is that, why does that hold up legally? >> the irs is the government. the government, in order to look at once possessions, papers and a fax of using language from the fourth amendment needs a search warrant. there are statutes that say if you send this e-mail, we can presume you do not intend that it is private. what will outrage them even more is that if the government does not do anything with this information, you will never know that they have been reading your e-mails. you only know if they have been reading your e-mails and they prosecute you. they can reveal how they got the

e-mail. they just went in and looked at it. connell: we hear about that in court cases all the time, but those are warrant. >> the concept of the government listening without a search warrant strikes one as profoundly violative of our privacy. connell: the idea is the same. say that scenario can't use them either e-mail or i send you the e-mail, we both work here at the same place, fox could read the e-mails.

>> they can't read our e-mails unless they go to a judge and get a search warrant. connell: they are a government worker, they cannot snoop on your e-mails the same way a private corporation can. we had a story earlier that they were looking through, basically stalking people on facebook. >> facebook is different. if he takes a trip to the caribbean and heat the ducks it for income tax purposes, claiming it was a business-related trip, but yet he posts pictures of himself in a grass skirt on the beach in the irs sees that, that would give the irs argument against what he filed on his taxes.

connell: do you ever see stewart's sandals? >> i am quite aware of them, yes. something almost criminal. connell: thank you, judge. always good to see you. let's go to the stock exchange once again for another edition of stocks now. the market rally is in full swing. i know that we talk about earnings, we talk about this huge rally. you have a particular interest

in the homebuilders. tell us why they are so important. >> they have been rallying pretty hard over the last couple months. the housing numbers have been getting better. i am really curious to hear from them. i want to see what they will say going forward. homebuilders are primarily land managers. they have been out there scooping up a lot of land. the real trick for them will be do they think they can build the homes, are they getting the permits, if they say guess, that will speak very well for the economy going forward. connell: we will talk a little bit more about the rally and where we are going as we continue. keep it right here. we will be right back on fox business.

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♪ connell: as we continue and the market rally continues, we've brought charles payne back. justin bieber may not deserve the crown after all. over half of mr. justin bieber's followers are fake.

they are fake accounts. the criteria left him with just under 18 million real followers. he is now second to our front, lady gaga. that is not why we brought you back, charles. mark faber, as you know, we said we would talk to doctor doom. he comes on from thailand. he is predicting that the market would go down 30 or 40%. i said where is the next huge move going to be, 100 or 200%. he agreed with you. it just shows if you post the questions differently, people can be bullish or bearish or somewhere in between. charles: i think we go to -- you

get that pullback, you get the 40% move. connell: that might be a headline today. it will be on twitter and some of the blogs. he is seeing what you see. do you disagree with him that we could pullback that much? >> i think it is a bit much. the number is as low as it has ever been since march 2009. the enthusiasm, the hype, the valuations, none of that stuff is therefore a typical blowoff. it will come. the fed money will have an impact. i do not know where it will be. by the way, here is the craziest part, when we are tumbling like

that, people become afraid. connell: what is a realistic approach for somebody who is a career person in their 40s or 50s? what should the strategy be if these guys are coming on and telling me it will pullback big-time, but over the long-term, we could see it higher. charles: always putting money in the market. this way you are buying at the bottom. i am not a huge mutual fund guide. i believe they are overly diversified. it is designed to mitigate the downside. it also mitigates the upside. look in your world and build a

portfolio and start with things you think are great and then go from there. connell: i am glad you came back. thank you, charles. there was a big dinner at the white house last night. the senator from mississippi was there. dennis and cheryl will be talking to him next. this business of tax reporting that we have been doing continues on markets now. ♪ we went out and asked people a simple question:

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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 cent. 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! >> coming up on noon eastern time on "markets now." dennis: jobless claims falling more than expected senate now higher still. and now the buzz kill with a bear who says watch out, we will put him on the spot in a moment.

cheryl: the business of taxes. a white house dinner for republican senators last night, we speak with one of those senators in attendance to see if the president convince them to vote yes. dennis: plus got tired of giving with commercial air travel? how to get a lesson cost for a first class ticket. cheryl: top of the hour, time for stocks now every 15 minutes. nicole petallides. new highs again for the dow and the s&p. nicole: it is unbelievable how each day, this is great for the bulls. people with 401(k), ira. they are seeing the record highs day after day. the dow, nasdaq and the s&p. hitting all-time record intraday highs and the nasdaq breaking records on its own that we saw back in 2000.

this is what we're looking at, a lot of up arrows. including mcdonald's. mcdonald's is hitting all-time record high today. in the meantime working very hard on their latest issue, which is executive say franchise owners are talking about customer complaints including friendliness. dennis: our next guest says a record-breaking markets are actually bad news because they're on the bubble. hard times for fraidy cats. he said we are headed down. it is now almost 1600. so were you wrong or were you just early? >> it depends on your position at that moment. going quite a bit further than anticipated, but seems like a

megaphone pattern we had. this is the third attempt for the dow to make an all-time high. there is really nothing holding up the dow accepts people putting money into banks all over the world. the cyprus situation is what is to come. dennis: the banks led the entire market to crash, how is it our fear is leading the market up? >> nobody knows how it is going to be paid. so their first attempt to pay back the debt was to take money from depositors who had nothing to do with racking up the debt and pay off the bank is made mistakes with that debt. if they can do that they are, what can i do? maybe they will start to look at the pension plans. people are nervous, they don't know what is going to be the next policy that can take their

money besides taxes. people think if you have money in the bank are more worried the government will take 40% of that. it's a goodbye to companies that have cash or cash is safe so were those companies have cash could also be tapped into lake e cyprus. dennis: if we are that worried about banks in that worried about seizing assets in europe, stay in stocks. >> let's talk about the banking system in this country and globally. we have had banking problems since the inception. this is not new, this is just going on for several years for the federal system. the federal reserve has too much power to destroy people's wealth. by dropping interest rates down to near zero levels, they have

lost wealth. rob the interest they should be earning on their deposits. the banking system is fragile. dennis: the points you're making showing the dow is up every bit as much on a percentage basis. that is solely responsible for this rise. >> the banks of being capitalized by the federal reserve giving them $0, and what of the banks doing with the money? are they lending the money? i don't see our gdp growing or unemployment going down. it is being filtered in the stock market because our chairman to the federal reserve, a nice guy, but his philosophy is if the stock market is up, everybody will feel good and say i'm doing a good job. we saw that in 1929, we saw it in a navy seven and we will see it again here in the

united states. dennis: you do like certain stocks. dollar store sector stocks? >> family dollar, i made a comment that doesn't mean anything to me, people with no money are going to go to dollar stores. those kind of stores. i like big lots. dennis: you don't like gold? you think you would like gold. >> that is the point, to go into inflationary depression, which outlined all these commodities are down the last 24 months. dennis: after huge rises, but go ahead. >> they will sell every asset class but not the bond market. you can't have a bubble in the treasury market because it is not speculative. dennis: i would say you've argued your case, good to see you. >> thank you.

cheryl: the business of taxes. this hour we're going to look forward. manager 2012 return has been filed or at least extended august, it is time to get proactive about 2013. you know you are ready. chief tax officer. most of our viewers have filed or their extensions at least for now have to focus on this year. 2013 is where the real work begins. >> we're only a third of the way through 2013 sony planning this for the second half of the year but a lot of changes took place as part of the american taxpayer relief act that effected 2013. investor community was affected with higher capital gains rates, and that is long-term planning just for 2013. cheryl: you say there are a few things you want to point out to the viewers. the higher income taxpayers >>

very high income writing that does not even include the medicare tax increase and supplemental income taxed on it as well. more taxes and higher taxes to be watched out for. cheryl: you've got to be prepared to be hit at a higher level. are there ways we can lower our incomes where we might be able to get out of that higher bracket? >> it may have made sense in the past based on taxes and economic indicators, but the taxes have come in to play. you can have such a loss on the return of your overall investment based on the tax and locations of the capital gains sale, the loss you can take and offset, income taxes you will be paying. and much more competent in infrastructure now to play and maximize your return. cheryl: we have viewers across the country, but some states,

these are the states where those earners are going to be hit the worst. what do you say to those individuals that are dealing with very complicated, very frightening state income tax? >> the top of an already heavy tax rate, just another factor to take into account. now you have a dynamic environment, all different changes, heavier tax rates, state tax rates. just doing the basic planning you have to do to maximize your investment is a whole lot to take into effect. cheryl: small-business owners are the ones who still have pretty decent deductions that they can use this year for next year. >> there's good news on the small businesses. increased depreciation, increase

production up to $500,000. cheryl: what could i depreciate? >> infrastructure, you can take up to 50% of your depreciation in the first year is a great ability to accelerate their expenses. the deduction up to $500,000, another way to celebrate the return of the capital into your business and take the deduction. another thing to small-business owners is the home office deduction, streamlining the ability to take the home office seduction, which is a great deduction, but new rules available for them as well. all subject to change as you saw with the president's plan, the congressional plan, long-term planning is now eight months. it is no longer the place he can do it yourself or read up on it.

you need somebody to say is this the way we read it? cheryl: you make taxes interesting. thank you so much. next hour the business of taxes will continue, the number one concern for small business in this country, a lot of them, the congressman will be joining willis and glor lori with what s doing to change that for america's jobs creator. that of course is small-business. dennis: remember the good old days when identity theft that somebody buying a leather jacket on her credit card? now thieves are attacking your refund. spea>> now the president's new budget proposal is offering the irs more weapons to fight this particular type of identity theft. stealing tax refunds has exploded in recent years. the number of cases has jumped from 150,000 in 2010 for about

640,000 in 2012. a report by the inspector insper general of the treasury estimated refund robbers have stolen as much as $5 billion in 2011. >> it is much easier than risking yourself trying to do a drug deal or trying to knock over a bank. this is great, in a living room grabbed some social security numbers, some w-2s video doctored up late with the lottery, this is a social security and a dream. >> the irs says with more staff, it stopped $20 billion in fraudulent refunds last year but to prevent more of this kind of fraud, the administration is proposing to replace social security numbers in those w-2 forms within a special type of employee id number. also limit access to public social security databases on people who died and their

information can be used for fraudulent refunds and stronger fines and sentences for refund theft. you can protect yourself by protecting your personal information better, of course. don't respond to e-mails that appear to be from the irs because the agency doesn't communicate with any taxpayers by e-mail. don't give your social security number to somebody who cold calls you about preparing your tax returns or unfamiliar tax-preparation websites, and file your return for your refund early. whoever files first gets the refund. cheryl: gold prices up a little bit, that contract struggling today. we will be live with phil flynn on if you should i sell or hold this commodity. dennis: guess who came to dinner.

on the dinner meeting with the president, roger wicker. cheryl: a look at another commodity. $93.27. down. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.

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cheryl: as we do every 15 minutes, stocks now. nicole. pc makers not performing as well. nicole: that is right. this is a day where we have a record-breaking day on wall street, the dow and the likes. microsoft and hewlett-packard, two dow components are weighing on the dow. 20 negative down points. story behind the pc makers is the latest findings is pc quarterly sales are plummeting. a sharp drop we are seeing the sharpest drop on record for that. plunging 14%, favoring tablet computers over that.

that is something we continue to watch. microsoft's new windows 8 has not been a big one, so that is one of the things we're watching. cheryl: thank you very much. dennis: time to make money with charles payne. he is looking to add fashion to your portfolio. if anybody knows fashion, look at the suit you're wearing. charles: this is a whole different type of fashion. i discovered this company a few years ago, my son and i got some loved it, they would go there a lot. five cash registers and one was open. the stock a very good for a long time, hit a bump in the road. i think it is worth chasing. they say look at the trend the fiscal year we should be looking at at least $1.83. this stock has been a lot lower, think it will go higher.

the shorts don't give up overnight. i think as this goes up, look at the upside potential on that thing. i think of it continues to move higher the short will be squeezed really badly on this one. they sell mostly other brands. it's sort of a turnaround play. the street but they would be down 8% so little bit ahead of the curve on a turnaround catching a lot of people off. cheryl: their target of a graphic is younger. charles: absolutely. one of these things you don't have a piercing or tattoo, you are definitely out of place. cheryl: did you ever where the vanz? charles: in my neighborhood if he wore vanz, that was an invitation to run home from school.

cheryl: did you wear vanz? dennis: now, those were out of my time. cheryl: the quest for the green jacket, who is leading the first round of the masters? coming up on the fox news minute. dennis: gold takes a hit. a look at what your next move should be. and how the world currencies are faring against the u.s. dollar. all stations come over to mission a for a final go.

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>> 23 minutes past the hour, hi, everybody, this is your fox news minute. in washington gun control legislation clearing a hurdle in the senate, bil the bill now advanced after the senate rejected efforts for conservatives to block the debate. hopes for a bipartisan compromise increase after they reached a deal for stronger background checks. in irving, texas, says the report, two people dead, 16 in critical condition at a bus overturns outside dallas during the rush hour commute. fox affiliate reporting 40 people could be trapped inside the bus.

and the masters golf tournament well underway in augusta, georgia. look at the masters leaderboard. reading now, but still tiger woods is the favorite. the wind would be his first championship in nearly eight years. they all want that jacket. i am going to golf school. i was going to ask you to come. cheryl: i need to. i am really bad. in the wake of goldman's price target cuts for gold, precious metal is hovering around one week lows. let's head to the trading pits of the cme and phil flynn. a little bit of a turnaround this contract is really struggling today, what is going on? phil: it is. we really got another wave of selling that had nothing to do with goldman.

but it had to do with cyprus. there was report cyprus would sell a portion of their gold reserves to meet the standards the amount of money they need to get a bailout from the eu. now today, roger wicker two cyprus has backed off a little bit. maybe gold has lost the safe haven status, people run away from the crisis of the moment but at the end of the day it may be the savior of europe using a vehicle for a european backed bond. cheryl: do you think what we're seeing now is because the risk environment right now, equities are attractive, more and more retail investors are getting into the stock market, do you think that is another reason goldman had the selloff we did yesterday? >> i think that is part of it. technically it is a very, very

scary and could fall more. it isn't just goldman, it is the small investors. the small investors are looking at the stock market wondering what the heck am i holding onto gold, let's chase this on the upside. but are they making the right move? george soros says gold is the ultimate number, but he doesn't think things are going any lower. don't get too aggressively short on gold now. cheryl: thank you. dennis: the business of taxes. taxes and the budget on the menu last night. we will go one-on-one with one of them. next. cheryl: what if we told you on a trip on a private jet could cost you less than flying first class on a commercial flight? dennis: and a look at the winners and the s&p.

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cheryl: exactly the bottom of the hour. looking at some of the big movers and new 52-week highs today. nicole: it is easy to find up arrows, record highs, all-time highs. up about 9.5% right now. morgan stanley raised the rating on the casino operator to overweight from an equal weight and almost online gaming.

we'll take a look at the casinos at the same time because that is next at the moment, but boydgaming is jumping on the news that new jersey, nevada open up online gaming in 2013 and early 2014, that will be a floodgate for investors who are interested in online gaming. will other states join in? we will see what happens. talking about nevada and new jersey, but a lot more states may be interested and a lot more people may be interested in rolling the dice. cheryl: we did a whole day of it here on fox business. it is fascinating. nicole, thank you. dennis: guess who came to dinner. among the dozen republicans dining at the white house with the president last night. on the menu, steak, salad, and the budget and taxes. thank you for being with us, senator roger wicker.

i believe his new budget wants to cut social security by over 100 billion, 200 billion, do you think he is sincere about those entitlement cuts, that he gets it? >> i don't want to question the president sincerity. i disagree with president obama so fundamentally on so many issues across the board involving domestic and foreign-policy but i think it is always helpful to be able to sit down and talk with the people in the government and see if there are some things we can agree on. i think his budget is a real problem particularly since it increases the size of government 56% over the next 10 years. dennis: for the president has to priorities among many. soak the rich with more taxes and demand those entitlement programs spending more than they are taking in.

what is the biggest priority for him? >> he wants to get to it, not much interested in taking a kind of savings in the entitlement program unless we agree to higher taxes. we may be at an impasse there. the tax rates went up automatically last january, the first. as far as we're concerned we have done taxes already. now slowing the growth rate. we talked about a couple of things i think would be helpful. the president is now saying publicly medicare recipients pay in $1 lifetime for every $3 of benefits they receive. that sort of information coming from the president of the united states about the unseen ability of today's medicare program and chaining and saving it for future generations. that is helpful coming from the

president. dennis: if they're unwilling to give any tax increase at all, aren't we in danger of both sides doing nothing on any of this? >> that is why we continue to talk. one thing that would be a revenue raiser for the federal government is economic growth. we had a conversation yesterday about strengthening our waterways to get ready for the panama canal and thereby increasing the number of jobs through infrastructure, maybe that would increase revenue without raising taxes. that is something that may be a middle ground. dennis: one way would be to cut taxes, no talks of that going on at all. the leadership of the

republicans kind of cut out at dinner, still rank and file causes any kind of an attempt to see if there's any space between the rank-and-file leadership, trying to get you guys to walk away from the leadership stance? >> there were members of the leadership there last night. look, i just think it' it is goo have the president of the united states willing to sit down and talk to members of the opposition party. i don't see how anybody can object to that. certainly the speaker and the minority leader agreed that it is a positive step when americans can sit down and air the policy differences. dennis: talk is better than no talk at all. thank you for being with us, senator roger wicker. cheryl: what if we told you a trip on a private jet can cost you less than flying first class commercially? we are going on road next. dennis: we have jeff flock live at a casino in maryland.

jeff: the casino is big business but also big tax revenue. live table games in maryland for the first time in a moment. we will have with us dave cordish with us live in just a few moments. stay tuned. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪

tracy: i'm tracy byrnes with your fox business brief. according to ability track, foreclosure fell in march to the lowest level in more than five years. whoever first-time filings edged higher for the second straight month, he signed some homeowners continue to struggle with their mortgages. it will cost $15 billion in liquefied natural gas plant in russia. he made a comment via video link. arrival time slipped in januar january 80%, down more than 4.5% the same time last year. the best on-time departure and arrival rates still considered on time arriving 15 minutes of the scheduled time. that is the latest from the fox business network giving you the power to prosper.

dennis: more on the business of taxes. 67%, that is the rate state of maryland imposes on slots revenue. the new maryland live casino opening game tables in an effort to rake in more revenue. jeff flock is there in maryland. jeff: exclusively in person, dennis, with david cordish, who is thrilled to pay 67%, right? >> thrilled. the largest taxpayer in the state of maryland, we gave them over $1 million per day. go int to the state education f. and i am not complaining. jeff: you can do business with that. this place is huge, the largest

casino in eastern seaboard and third largest in north america with all of vegas. 67%, to look back compared to other states, maryland is the highest tax rate, why are you doing business here? >> we are a maryland company, have been here a long time, our fifth casino but it is special because it is here. if you can do enough volume, it can be staggering volumes. the margin works out for the developer also. jeff: you have 4000 slots in here, 122 table games. we get this place packed, it is like vegas. >> in one way it is different from vegas. he went into any casino in vegas on a thursday he would have about a third of the customers we do. this place is humming on a thursday at noon. jeff: i have pictures of you

throwing the first couple of days. is this a dice roll for you? you're a huge developer all over the country. gambling is just a piece of it. how much of a dice roll is this for you? >> this was not a hard one. we are a mile from i-95, 295, 11,000 parking spaces here for free, 7 million people who live within 20 minutes, easy drive. jeff: gambling is back on the rise. he took a little bit of a hit during the recession but it seems to be back again. the revenues never have gone down. they gambling operators pay the state have continued to rise. >> no doubt about it. the regional casinos were not

hit the way the destinations were like atlantic city or vegas. jeff: that is an important distinction. we think of vegas, atlantic city, chicagoland is a huge market, but these are almost destinations where this maryland is not a destination, this is where people actually live. >> you say it very, very well. you drive 20 minutes, you gamble, the entertainment we give them, they don't need an airplane or a hotel room. instead of going to the movies, they come here. it is much less susceptible. jeff: the attacks, nobody seems to mind, i guess in some ways. this goes largely to the education fund in the state. maybe one day we will educate people enough not to gamble.

we continue to walk this entire time and talk, we are still not at the end of the casino. >> it is 360,000 feet, three and a half football fields. very few this large anywhere. jeff: the third largest in north america, david cordish, glad to see you. dennis: thanks a lot, jeff flock. cheryl: you have heard of hooking a private car, now there is an app to book a private jet. with me now, the ceo. thank you for being here. the iphone upcoming, your membership-based service, how many members do you have now? >> we have lots and lots of members have signed up since we started black jet in november of

2012. membership is growing month over month, we're pretty happy with the results so far. cheryl: what number is lots and lots? >> all i can say if it is in the thousands at this point. cheryl: talking about the business model. one of the cofounders of blackjet i is also one of the cofounders of imus which has been a success around the city. a private jet, this is a different challenge for you. private jet travel is much more expensive. how do you make the same kind of margins uber is making now? >> our business is challenging in that we have to sell the private aircraft charters by the seat. the only one that guarantees seat availability on private jets. uber, you hail a cab or a car, in our case you're actually booking online a guaranteed seat

on a private jet. we aggregate lots and lots of clients and put them on these planes and fly them, that is how it works. cheryl: let me ask you about the clientele. lots of technology executives, business people were ready to sign up and did and give interviews about it, but you find those are repeat customers or do you find you're getting the once every six months traveler who is jumping in? >> it is a mixed bag but executives, our favorite customer kind of fits into a homogeneous travel pattern. vote 10 trips per year, there is a segment of our clientele it tt takes a few trips per year. most of them are business people traveling on business taking multiple trips per year. cheryl: i want to go through the numbers and show our viewers what this cost in case you're curious. new york to florida $1700 per

seat. new york to l.a., $3500. i just have to ask you, with high fuel cost with the cost of the jet, do you really think this is a sustainable business model? >> it definitely is a sustainable business model on getting inefficiency out of the marketplace. private aviation, there are thousands of these objects on the ground available to be booked on demand, and we're the only ones who sell seats for there are millions more customers who can afford to buy a seat for the praises he mentioned having to rent the aircraft for thousands and thousands of dollars. bringing them to clients in the marketplace and selling them a seat creates a huge opportunity to use the aircraft more and the more you use the aircraft to lower its costs. per flight.

cheryl: a lot of big names are in this deal. thank you very much. >> thanks so much. dennis: sign me up. stocks every 15 minutes, going to the floor of the new york stock exchange. dow 15 k., give me a fearless forecast. >> unfortunately that is on everybody's mind. my crystal ball is a little cloudy. it is certainly in the cards, we are very close but i look at csfb, i will give you that perspective. particularly if we get a couple of good reports of jpmorgan and wells fargo tomorrow, we're at inflection with a breakout yesterday, a nice, strong price action, we will see dow 15 k. based on those reports tomorrow we could see dow 15 k. by tuesday, wednesday next week.

dennis: it is a great forecast. cheryl: the cyber threat, on the perils of prosecuting its national criminals. dennis: and some of the winners over on the nasdaq. a good day. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. how old is the oldest person you've known?

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dennis: cyber conundrum. prosecuting hackers is a tough task with a lot of roadblocks to bring foreign and domestic hackers to justice. former justice department lead prosecutor basically in this infamous hacker case. thank you for being with us.

so you've prosecuted this guy basically in miami who took credit card and debit card account information, sentenced to 20 years in prison, some codefendants oversees you indicted, they still haven't caught, is that right? >> that is right. it is a combination of domestic and foreign targets. they work together, they often don't know, criminals don't know who they are dealing with and sometimes they can be outside the country. dennis: makes it hard to get a guy and turn him into some sort of a stool pigeon or something. there are state-sponsored groups and then you have the global criminal hacking organization. which one of those three scares you the most? >> that is a really tough call, each one of them has the potential to do to mitigate

damage to companies businesses and it is just a different type of damage. one can be exposing company information, one can be stealing it without necessarily the company knowing it, and the other one can be damaging both at the same time. they are all damaging. dennis: try to go after hackers overseas, which is the bigger obstacle? the fact that they are hiding it or the fact the government's are concerned about a cyber threat as much as we are. >> it really is a formidable challenge if they use some sort of encryption that is unbreakable. your evidence of getting it is very slim. it is the combination of foreign targets, foreign evidence and foreign witnesses, and also not just one country, often you're doing with several different

countries. dennis: one last quick answer. china gives military doing over 1000 attacks in more than 100 companies over a couple of years, have you ever known of china government helping out when our government goes on international hacking investigation? >> i wasn't involved in anything like that at the department of justice. dennis: okay, that is a safe answer. our daylong series small business and tax reform. cheryl: the bird flu weighing heavily on kfc but has a big footprint in china. melissa and lori will take you through the next hour of "markets now." stay with us. ♪

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melissa: hello. i am melissa francis. lori: well, hello. good afternoon. i am lori rothman. analysts say not so fast. melissa: networkwide coverage. how small business committee chairman on the number one concern for americans job creators. lori: burned by the budget. the president proposes nearly double the tax on cigarettes. melissa: the irs claiming they can read your e-mail without a warrant. lori: we are all in trouble. stocks now as we do every 15 minutes. nicole petallides. nicole: a stock market that just will not fit. great for the bulls out there. 14,877 on the dow. we are setti n