recovered in that city. the only explossves were the two bombs that went off near the boston marathon finish line. connell: as security tightens across the nation, we have live reports from the new york stock exchange and, also, chicago's district. stay with us. complete coverage on markets now. ♪ connell: we will balance out that covered between the financial markets and the situation in boston. dagen: you would think you may see more money going back into gold after that biggest drop in 30 years after given the tense situation here in the united states. connell: some important information here there were no unexploded bombs. that came out of the briefing an hour or so ago. it was just the two bombs that

went off. beginning with nicole petallides. nicole: yesterday, of course, late in the day, use all the horrific drop. today we were up over 100 points. the nasdaq composite is up three fourths of 1%. much like the s&p 500. we have gotten in earnings. that has helped names like coca-cola. we have analysts upgrading price targets. walmart, a buy at ubs. you have excellent. also, microsoft. morgan stanley was hot on microsoft. on the downside, we are seeing the biggest laker, jpmorgan, exxon and walmart. back to you.

connell: just to reiterate, the biggest piece of news that we got in that press briefing that started a little after 9:30 a.m. eastern time is that there were no other unexploded bombs that were found around the scene in boston. it was just those two bombs that went off and killed those three people entering another 176 others. let's bring in mike baker. president of diligence llc of mobile intelligence and security for. can you, mike, read into this at all based on the fax that we know so far. >> well, i mean, it looks a lot like what we see in the middle east. it looks a lot like what we see

in the war zones in iraq and afghanistan. the methodology used. having a first explosion. driving people towards the second explosion while also getting the first responders into the second explosion. the fact that it was a major event. the boston marathon, a very important day in massachusetts. patriots' day. the methodology looks familiar. as you pointed out, it is very early in the investigation yet. we have to be careful about speculation. i will be very surprised if it is not, you know, extremism. dagen: how easy and i use that word carefully, will it be for the authorities, the fbi to gather information and locate who is responsible for this?

please contact the fbi if you have any videos or photographs that you would want to share with us. will it be easier for them in this terror incident and in others potentially? >> potentially, yes. it was such a heavily covered event. everyone is covering a cell phone. because of that, there will be tremendous amount of video coverage. that is important. security cameras that were set up prior to that potentially picking up delivery of the devices. they had to be set down at some point. i think there is a great deal of evidence. we have a lot of police on the street because it is the marathon. we had a lot of clout -- we had

a lot of crowd control. there will be a lot of information here. a lot of work being done. both at local and state levels. there is great coordination compared to what it was even ten or 15 minutes ago. dagen: that is what i was going to ask you about. talk about that and how it could make it a much quicker investigation or a better investigation, like. >> it is really critical. after 9/11, of course, there was a lot of talk about the territorial battle that was going on between the cia and fbi and other agencies. we were working on that prior to 9/11. the coordination now between all

of these organizations, again, at the local, state and federal level has vastly improved. it will never be perfect, but it is far better than what it was. that is critical. you have thousands and thousands of bits of information flying around. you have to be able to gather that. dagen: mike, thank you for being here. good to speak with you. mike baker. connell: president obama will deliver a statement at 11:30 a.m. eastern time. one of the questions people have brought up after the bombing yesterday and we will start to get into this today and the coming days, what if any impact they will have going forward on our economy. dagen: peter barnes has much more on this.

peter: we looked at research reports on the impact of attacks of 9/11 back in 2001. the current economy has shown some softness recently in job creation and retail sales. any hits to consumer confidence may make things worse. two economists that i have talked to this morning do not think it will get too bad. the 9/11 attacks were targeted for the financial systems. consumer confidence rose sharply after the 9/11 attacks. experiencing the biggest monthly drop in a decade. the attacks caused more than 400 mass layoffs and displaced 130,000 workers. industrial production fell back then. the unemployment rate jumped more than a half a percentage point. we were already in a recession that september.

we are not in a recession today. boston is not an economic center. >> maybe a day or two people will be hesitant about going out shopping. assuming nothing else happens, it should last much longer. peter: it could take a short-term hit because of boston. they are more worried about the impact on the economy and payroll taxes january 1. connell: let's bring just jeff and from raymond james. let's follow up on what peter is reporting on and the financial markets both yesterday and today. even without what happened in boston yesterday was setting up to be a remarkable day. stocks were down. gold was selling off. there were further jitters after what happened in the afternoon,

obviously. >> it reminded me very much of the hunt silver corner. when it finally, when the fever finally broke on october 7, excuse me, january 7 of 1980, you had a hard move on silver just like you did on gold on friday. they try to hold the markets together. the margin calls went out. people had to start selling their commodity positions. i do not know if they play that way here or not, but it has had a heart attack on the market and heart attack patients do not get right off the gurney and run a 100-yard. connell: if it bounces back up,

is it in your view over at this point and the second part, what, if any, to the impacts of the bombing have? >> the bombings in boston have more impact on the equity markets yesterday afternoon when not a whole lot was known. that is why you had a whole lot of stock for sale. i agree with the two gentlemen that you had on. it will not be too impactful on the economy. the gold mining stocks have been hit a lot harder. the last time it was that low was back in 2008 which was a bottom. connell: something that we touched on a number of times yesterday was exactly what you just brought up. everyone focuses on the metal itself. are you saying you approach them

now as, you know, an attractive by because of the drugs they are seeing? >> i would give it a couple days. in some cases, it becomes a bull trap. i think it is very important to see if the equities markets can recapture that 1576 level. if not, you probably go lower. down into the low 1500. connell: jeff, thanks a lot for coming on. >> it is a pleasure. dagen: the fbi appealing to the public for clues and help finding those responsible or that person responsible for the deadly attack. we go live to boston for the very latest. connell: we will head to the new york stock exchange today.

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connell: breaking news and live pictures coming in from logan airport at boston today. these photos show a u.s. airways flight and we are told that our local station, fox 25, that that flight was supposed to be headed to chicago. there were two men on the plane not sitting next to each other and were speaking arabic. it caused concern. they said something about it and the plane then was taken back to the day.

those two men in question were escorted off the plane. those are the details as we know them right now. more information as we get it. dagen: a heightened sense of security and general nervousness across the country. quarter past the hour, stocks now and every 15 minutes. johnson & johnson. nicole: we are taking a look at two names that reported quarterly numbers. we are seeing the dow up 100 points even today. coca-cola is up 5.25%. also hitting a new high over 42.29. highest levels since 1979. johnson & johnson at an all-time high. johnson & johnson added almost ten dow points by itself. that is another winner.

they did well with hepatitis c drugs. that helped them along. back to you. connell: thank you. markets on the rebound, as we have been talking about. let's bring charles payne in and get his perspective on all of this. as nicole said, you are up 100 points on the dow. charles: we are back to almost where we were. the big story in the morning was cold. that entered the bear market last week. it fell completely out of bed. the questions start coming up. though gold story seemed like a slamdunk. there is a lot of anxiety in the world. a lot of confusion. then we started hearing maybe the message is we are entering a deflationary.

dagen: gold is in a bubble. people are searching hard and inaccurately for a reason why it is falling. it is just selling to get selling. charles: there is no doubt about that. you always have to ask why now. the factors that typically drive it up are still very strongly in place. you still have to ask why. why now. i think that is still weighing on people's minds. people should understand it is probably worse than inflation. the cycle goes on into a death spiral. we saw that in individual areas in this country. i do not think we are there. i will say classic inflation is not here yet either. connell: charles, thank you.

he will have continual analysis throughout the day. thank you very much. dagen: straightahead, we have a live report from the scene yesterday in boston. connell: we will head to chicago. jeff flock will have a live report from that city's financial district. first, though, so more markets for you. here is a look at currencies. ♪ what is it that makes a husqvarna? it's not all the brilliant engineering, no. it's this that makes a husqvarna!

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dagen: we told you about that plane that boston logan airport that was returned to the gate. there were concerns about marathoners hearing two men not sitting next to each other speaking arabic. there are delays due to this incident. connell: let's get back to boston. let's tell you what we know about the bombings. we know that three people were

killed. at least 176 people were injured. dagen: we are live near where these bombings took place. what is the latest? >> we are getting a lot more information as the day goes on. particularly interesting information as far as the investigation is concerned. they are being very careful about how in remission is being released. in the course of the event, very chaotic moments following the two blasts that occurred here in boston. there were also reports that there may have. other devices. that is not the case. there were just these two devices. there were multitudes of essentially specific packages. many backpacks were left. a lot of items that had to be looked into. they wanted to clear up those points. another point, as far as someone

being in custody, they say that is not the case. however, they are speaking with alterable individuals. they are doing countless interviews. this could be a worldwide investigation. one of the people that has been spoken with, a young man in his 20s from saudia arabia. he was injured at the scene of this bombing. also search was an apartment affiliated with this young man. we have very talented teams. a multiple people on the ground here from fox news channel. we spoke with the neighbor. the neighbor was here at the site. when she returned home, her apartment complex was part of the investigation. >> i was in boston today.

i saw the whole bombing. to come home and see the cop cars here, go upstairs, i come up here and there is a bunch of people here. to know it is right next to my house, you know what i mean, wouldn't you feel comfortable. >> authorities say no one is in custody. they are just speaking with a lot of people. our producers had a chance to speak with a roommate of this individual. the roommate says he is here essentially taking english courses and is a really nice guy. the type of story we often hear. also worth noting, you mentioned 176 casualties. a lot of catastrophic injuries. dagen and connell. connell: thank you. dagen: thank you, molly.

we are waiting for president obama to make a statement from the white house. the estimated time is the bottom of the hour. we will bring you those comments live. ♪

connell: briefing room, president obama is expected out any second to give us the latest on yesterday's bombings in boston. dagen: rich is at the white house right now. rich, what can we expect to hear from president obama? >> hopefully an update from the president. there are a number of outstanding questions. we did hear from the f.b.i. a short while ago. the president did speak last night offering his condolences and we expect him to do so again today. this replaces the white house briefing that was supposed to happen. dagen: rich, we need to go to the president. here he is. >> f.b.i. director mueller, attorney general holder,

secretary and my counterterrorism and homeland security adviser lisa monaco on the attacks in boston. we continue to mobilize and deploy all appropriate law enforcement resources to protect our citizens and investigate and to respond to this attack. obviously our first thoughts this morning are with the victims, their families and the city of boston. we know that two explosions gravely wounded dozens of americans and took the lives of others, including an 8-year-old boy. this was a heinous and cowardly act and given what we now know about what took place, the f.b.i. is investigating it as an act of terrorism. any time bombs are used to target innocent civilians, it is an act of terror. what we don't yet know, however, is who carried out this attack or why, whether it was planned

and executed by a terrorist organization, foreign or domestic, or was it the act of an individual? that's what we don't yet know and clearly, we're at the beginning of our investigation. it will take time to follow every lead and determine what happened. but we will find out. we will find whoever harmed our citizens and we will bring them to justice. we also know this. the american people refuse to be terrorized. because what the world saw yesterday in the aftermath of the explosions were stories of heroism and kindness and generosity and love. exhausted runners who except running to the nearest hospital to give blood and those who stayed to tend to the wounded, some tearing off their own clothes to make tourniquets. the first responders who ran into the chaos to save lives, the men and women who are still treating the wounded at some of

the best hospitals in the world and the medical students who hurried to help saying when we heard, we all came in. the priests who opened their churches and ministers to the hurt and the fearful and the god people of boston who opened their homes to the victims of this attack and those shaken by it. so if you want to know who we are, what america is, how we respond to evil, that's it. selflessly, compassionately, unafraid. in the coming days we will pursue every effort to get to the bottom of what happened and we will continue to remain vigilant. i've directed my administration to take appropriate security measures to protect the american people and this is a good time for all of us to remember that we all have a part to play in alerting authorities. if you see something suspicious, speak up. i have extraordinary confidence in the men and women of the f.b.i., the boston police department and the other

agencies that respond so heroically and effectively in the aftermath of yesterday's events, i'm very grateful for the leadership of governor patrick and mayor and i know that even as we protect our people and aggressively pursue this investigation, the people of boston will continue to respond in the same, proud and heroic way that they have thus far and their fellow americans will be right there with them. thank you very much. and you can expect further briefings from our law enforcement officials as the day goes on. when we have more details, they will be disclosed. what i've indicated to you is what we know now. we know there were bombs that were set off. we know that obviously they did some severe damage. we do not know who did them. we do not know whether this is an act of an organization or an individual or individuals. we don't have a sense of motive

yet so everything else at this point is speculation but as we receive more information, as the f.b.i. has more information, as our counterterrorism teams have more information, we will make sure to keep you and the american people posted. all right? thank you very much, everybody. connell: president obama speaking for the second time since yesterday's boston marathon bombings. a couple of things of note there. he mentioned the name lisa monaco, his new counterterrorism adviser taking over for john brennan. that's her introduction to her job and the other thing is there's far more we do not know about these attacks than we do know. the president saying that he still does not know, nor does anyone else, whether this was planned by a terrorist organization, foreign or domestic, or by some sort of an individual. here we are. dagen: and the president also did refer to this as an act of terror, that the f.b.i. is investigating this as an act of terror, something he did not say

in his first comments. and what to make of that and so much more, again, this new team in place, including lisa monaco, juan, the president initially didn't refer to this as an act of terror but then a white house official came out and said that's what they indeed believed it to be. what do you make of that? he's referring to it that way now. >> well, i think there was some sort of fire coming from especially conservatives on the blogs, dagen, so i think the idea is let's be honest. a lot of that is leftover from the benghazi affair when the president was slow to use that language. you'll remember it even came up in the debates with governor romney. the key, was it something of a domestic nature? is it some kind of situation that you would anagagize to the

atlantic olympic bombing or is it something that could be linked to al qaeda and people overseas who might have anger at the united states over international affair snz we just don't know and i think that's why you see this now, clear statement of yes, it was terror. any time a bomb is set off, as the president said, its going to be an act of terror. newtown was ant act of terror but not like this and there's a real screen on both the president from a political point of view but also law enforcement to try to find out exactly what is the root cause of the bombing that took place yesterday. dagen: what about the readiness and preparedness of his new intelligence team? connell mentioned as did the president lisa monaco. what will they face in the coming days, juan? >> well, lisa monaco i think will be the focus. she was in the first picture released from the white house yesterday, dagen, along with the new chief of staff there.

now, the president has people that he knows and trusts very closely over at c.i.a. bren nan went to the c.i.a. and at f.b.i. you have director mueller who has had an extension of his stay. he's got to have known people in place. monaco is really a different one. mc donough is known to him as well. the challenge here, i think, is making sure there's cooperation between the agencies. if you'll recall more than 10 years ago now back to 9/11, there was even difficulty with some of the communications equipment and then sharing of information. that does not seem to be the issue. even in term of the boston police this morning, you're not hearing that they're having any trouble with the feds. everybody seems to be on the same page. dagen: one more thing. how does this impact the legislative agenda that is in front of congress right now?

in particular, the immigration bill that is being presented by those senators. how does that move forward, do you think? >> i don't think it has too much impact. it's interesting, peter king who is head of homeland security for the house was saying, well, we have to put more money now into making sure that first responders are properly supplied. i think you're starting to hear now push back even against that. we can't just spend money but we've hardened targets and this impacts sequestration, this impacts budget talks. this is where i think you're going to see the first impact of boston in the political realm on capitol hill. is it necessary for us to spend more money, especially from people who have been feeling some of these cuts or is it the case that people will say, no, we've got to spend the money in a more directed and targeted way? it shouldn't be going to small towns but it should go to big towns and big events like boston and the boston marathon.

dagen: we'll see if we get any sense of compromise in washington. great to see you. thank you so much for all the insight as always. connell: all right. we're going to come back in a moment. the financial markets, you can see behind us they're bouncing back today. that's part of this as well. but we'll have more information as it comes in on the bombings and the aftermath in boston. more to come on "markets now." [ male announcer ] you are a business pro. governor of getting it done. you know how to dance...

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>> hi, everyone. i'm diane macedo with your fox business brief. international monetary fund is from himming this year's outlooks for the global economy. it attributes that to the u.s. economic stagnation in the euro zone. carl ichon has agreed to limit his shareholders in dell. the deal prevents him from owning more than 10% of the p.c. maker on his own or more than 15% with other shareholders and a new survey shows grand loyalty has dropped for the third year in a row. nearly nine in 10 consumers are substituting private labels for national label brands. the recession is still affecting the way people shop. friday night, buddy.

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dagen: connell: at la guardia there was an evacuation of the terminal and at logan, a plane was looked at. all clear at la guardia in new york and all clear at boston. dagen: definitely a heightened sense of security at the nation's airports and in many cities across the nation, even around the world. security being beefed up after the explosions in boston yesterday. cheryl is live outside the new york stock exchange with that whole part of new york city has been a fortress since 9/11 and do you still get that sensation being there today? >> absolutely. in fact, dagen, the security to get into the new york stock exchange, the police presence

that is now evident here in lower manhattan is more visible than ever today. you know, new york city is on high alert. mayor bloomberg coming out yesterday and saying there's no known threat to manhattan but this is a city that absolutely knows that it is in the cross hairs of terrorist, people that want to harm new yorkers. we've had 16 known plots since september of 2001 all directed at new york, sometimes square 2010, the un detonadetonated de the car. in 2006, threats where i'm standing right now, the new york stock exchange. all of this affects security. about 1,000 extra counterterrorism officers have been dispatched by the mayor today. you're going to see more dogs at train stations, bomb sniffing dogs, bags can be searched at union station, at penn station and then also there's a larger side of this. fox business is outside today to

cover wall street's reaction to what happened. the unfortunate events happened in boston late last evening at the marathon because these traders know very well that terrorism or an attack of some kind, whether it's homegrown or international can strike at any moment. that's one of the reasons we saw stocks drop yesterday. you had especially in the last hour of training, you had the worst five months for the stock market and then the story we're following into, the story of gold and the big selloff on gold. one of the things we're seeing today and i know you've been talking about it already during the hour is the fact that gold is becoming that safe haven. you'll see international and domestic investors going into the gold contract. you'll find that safety play. but again, markets rallying up today. the dow, the nasdaq and the s&p 500 looking very nice. triple digit gain on the dow and the traders here behind me at the new york stock exchange, inside having that moment of silence at 9:30 a.m. eastern time. they know all too well when

someone wants to harm americans that they are going to target new york and in this case, it was the city of boston. coming up in the noon eastern time hour, we'll talk more about wall street and talk more about the issue of security. bo dietl is going to talk to me. he'll talk about kind of the sense of what he's seeing today in new york city on the heels of mayor bloomberg saying no known threat but let's just be extra careful in the city of manhattan as we get more details on what happened in boston. dagen: thank you so much for that and just really quickly before we move on, connell, if you want to talk about safety investment, the little money coming out of treasuries today. so gold is up. maybe it's a haven. maybe it's not. if you look for safety, go to treasuries. yield on the 10-year is 1.72% and money going into stocks. connell: even when the u.s. was having trouble as it did when the credit rating was

downgraded, money came in, came into u.s. treasuries. after all this and the bombings in boston yesterday, one of the things that emerged was we were all out there trying to find accurate information and for the people on the scene there, it was information about their loved ones and what was going on and it could be a very, very difficult thing to do. dagen: we're here to talk about how social media connecting people became so critical just yesterday. >> this is a story that social media broke and social media continues to tell well before the news outlets made it to the scene in boston. social media sites and outlets, including twitter, video sharing sites and even facebook posts gave it early glimpses of the tragedy that unfolded in diane macedo. while there were and continue to be a fair share of information that is spreading, google, vine, youtube, the list goes on and on, continues to paint a picture

of the story we know is still unfolding. big technology companies responded to the news yesterday. for example, google launched its people finder site to help reconnect friends and loved ones, if you're trying to get information out, if you're trying to find where your loved ones were. google provided a website to do that. first responders also embraced technology overall. for example, boston police confirmed news of the explosion about 19 hours ago. they used tweets to post information about casualties and the latest developments, even posted instructions for locals so again, i'm sure there were fake tweets but overall, the information dissemination and the picture and the stories that social media was able to tell, overall the industry for lack of a better word of social media being applauded for its role and what has happened the last under 24 hours or so. dagen: thank you. connell: more on the bounceback

in the markets coming up but also new information on the boston bombings. we have an eyewitness to yesterday's attack who will join us live coming up. a person who was right there near the finish line when these two bombs went off. this is video that she shot with her phone. more coming up. are you still sleeping? just wanted to check and make sure that we were on schedule. the first tenology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. ♪ [ indistinct shouting ]

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connell: markets now in a moment but i want you to take a look at some video that has come in to us from a cell phone at the scene, at the finish of yesterday's boston marathon and there you go. there was the first bomb that went off. a different angle than some shots we've seen in other videos that have come in to us. dagen: joining us is marilyn miller, an eyewitness to the attack. that video was shot by a friend of hers on the phone.

marilyn, we don't see much on that video but just describe what the scene was like and what you experienced personally. >> as you can see, we were kind of looking at the race, watching the race because our runner was coming down the finish line. we expected her 20 seconds before she came. she rounded the corner, heard the first bomb and it was like cha chaos. she rounded that second corner to come down around the finish line and the second bomb went off. when it happened, we were like -- dagen: you're on the side of the street -- >> we were on the side of the street the bomb happened. connell: it happened as you're looking out. it happened just to your right. >> no. my left. we were sandwiched between the two bombs. connell: how far away? >> 20 or 30 feet. we were so -- i feel like it's a

miracle we weren't hit because she has never run a race where her legs cramped. her legs cramped and if that wouldn't have happened, we would have been running down the finish line with her and -- connell: is she your friend? >> yes. the bomb would have hit us right there. dagen: describe what you saw in terms of people who weren't injured, responding to those who did need help. >> absolutely. we were amazed. we were talking about it afterwards. just the help was like right there flagging ambulance. my friend was flagging an ambulance down for people. we saw a young girl and i just worry about her. her neck, it was -- and i don't know what happened to her. another woman was being carried out by two men who weren't even with -- they were like critical, critical, out of the way, you know. everybody was just trying to do whatever they could to help. and even then when people came just to get out of the way for the emergency crews to get in

the there. dagen: thank you for coming. you're right, you were so lucky. >> the hand of god, really. connell: it had to be. you were so close to it and again, thanks a lot for coming in. >> thank you. dagen: marilyn, thank you so much for that. we'll keep you updated on any information we get about the investigation into who was behind those attacks in boston and of course, we watch your stock markets today. stock markets rebounding. gold making a tempid come back. you would think maybe there would be a flight to safety after that bombing yesterday. not really seeing that. connell: cheryl is live from the new york stock exchange. you saw her moments ago. she'll be there and dennis is here in our studios at fox business headquarters. they continue our coverage next on "marks now."

dennis: here is the very latest

on the boston bombing. stocks rebounding well but gold at a tepid comeback after gold sold off yesterday, especially after the bombs went off at the finish line of the boston marathon. a large area of the back bay of boston remains cornered off and closed for business as auuhorities search for clues in the bombings that killed three people, injured 176, 176 them in critical condition. president obama now says the bombings are being treated as an act of terror. the boston police commissioner says no one is in custody in connection with the bombings. the f.b.i. refuses comment. and security beefed up for the new york stock exchange in wake of the bombing ones and cheryl is there for the hour. cheryl? cheryl: dennis, hello and yes, it is frankly, a normal looking day anyway here in front of the new york stock exchange. security as it always is at the stock exchange is tight. tourists from around the world, every day coming to the site but today is a different day for

those focused on what happened in boston. here in new york city, mayor bloomberg making a point to say he's going to put 1,000 extra counterterrorism officers around the streets of manhattan. there's extra security here, in times square, at the train stations, the airports in the new york area all because this city knows all too well what it is like to be attacked. there's been 16 known terror plots foiled between september 2001 and today. the most recent, october of 2012 so this city on high alert but again, business as usual. here at the new york stock exchange, 9:30 a.m. eastern time, they opened and they had a moment of silence in honor of everyone that either suffered injuries or perished yesterday in boston. i'm outside of the new york stock exchange but inside is a very busy day for our own nicole and it is top of the hour. stocks now, nicole, i just saw a few moments ago. what are you watching inside? >> graeat to see you.

i wanted to look at the dow jones industrials. yesterday some fear in the market late in the day after what occurred there in diane macedo and boston so we saw a selloff yesterday where the dow was down 265 points. regaining some of those losses today. up 135 points right now. we're up 1% on the dow jones industrials, much like the s&p 500. tech heavy nasdaq is the best of the bunch. it's up 1.25%. retail stocks, drug stocks doing well. 25 of the 30 dow components have green arrows with the exception of wal-mart. coca-cola came in with quarterly reports and they are the number one and two performers in the dow in percentage terms and adding 25 positive dow points. you also have housing starts numbers and those were also good news as well. that jumped 7% to the highest levels we've seen since before the financial crisis. a lot of new highs, a lot of up

arrows, very different picture than yesterday. back to you. cheryl: certainly nice to see the markets rallying and coming back. we have a strong country and a strong stock market but certainly, when we have things like this happen, certainly investment advisers around the country, especially here in new york have to analyze the impact of all of this. native new yorker, you grew up here in manhattan, james, and certainly there's a bit of a reaction when you see events happen like we saw in boston yesterday. massive selloff at the end of the trading day. >> that's a very human reaction. i think all of us, any normal human being would be dismayed and horrified by what happened. the loss of life, the involvement of children and the nature of the injuries. the unfortunate truth is once you get past the dust which was what happened in the last two hours of trading, you realize that this is unfortunately a commonplace occurrence and right over to your right shoulder is the j.p. morgan building which in 1920 was bombed with a loss

of life of 38 people. i don't mean to mine might see -- minimize any of this. it's truly a tragedy. cheryl: one of the things that seems to be a recurring thing is that now in 2006, terrorists were going after, taking the prudential building, the new york stock exchange. it seems there's a will to attack us financially. that's why cities like new york are always on, again, high alert when anything happens that threatens our nation. >> absolutely true. i do have to say and i'm sure you realize the security down here at the new york stock exchange, particularly since 9/11 is unbelievable. it's hard to attack. but you know, having said that, i don't think we can ever say that we're completely safe from smaller scale bombings like what happened in boston and again, i realize it may be a little bit

callous to call it smaller scale but this is something that did not appear to be of a size of 9/11 or the madrid attacks, london attacks and for that we can be thankful and we can be thankful to law enforcement in particular. cheryl: new yorkers in general have been through the drill so many times. good people of boston now, frank many, getting hurt much more than new yorkers have been in the last few years. do you find here in new york there's an extra sensitivity in the financial community about events like this in boston. do you find there's a sensitivity at work that we forget. we think we feel good and then something like boston happens. >> on 9/11 i was working down the street here so you're asking someone for whom that question has a very personal impact but i think it probably goes to all new yorkers. yes, they feel like they've been a target in the past. they're going to be a target in the future and i think all of our hearts go out to the boston residents and the international travellers who were there for a day of celebration.

our hearts go out to them. what else can we do? what else can we say? cheryl: certainly you've had clients call you where we have international or national event that affects the nation. what do your clients say to you during times like these? does it make them nervous about investing in the stock market? do they want to stay the course? >> most of them want to stay the course. i haven't heard anybody today responding in a negative way. that may also reflect the fact there's a lot of international tensions we're dealing with right now completely unrelated to boston. if it's north korea, iran, any of a number of things that are continually on our minds and so unfortunately, boston just adds to the list. cheryl: before i let you go, i do want to ask you about the gold contract. you're going to join us in 30 minutes about earnings and market analysis but the move into gold today, what do you make of that? >> i don't make too much of it. certainly the gold bounceback today is nothing compared to the

selloff of the last couple of days so i wouldn't read into that one thing or another and treasury rates are low. they're going to stay low and the old addage, don't fight the fed. i don't think anybody wants to short treasuries if the fed has an unlimited pocketbook and they're buying. cheryl: they're affecting the economy. data was mixed today. we'll get into that 30 minutes from now on "markets now." i do want to point out about 15 minutes from now, we're going to be joined by bo dietl, the founder and c.e.o. of bo dietl associates. he'll talk about what he's seeing as far as new york security, the steppup of the security and how new yorkers are, frankly, resilient when it comes to issues like that. dennis: that's great, and more on gold. after that biggest one-day price plunge in 33 years, george joins us now. you've been watching gold for

something like 40 years. have you ever seen anything like what happened yesterday? >> this has been a first for me and i traded the first gold contract in december of 1974 on the floor of the exchange. i'm still a member and i still go down to the floor about once a week. and i keep up with it and i follow gold ever since. dennis: it fell 9% yesterday. today it's back up all of 20%. if you fall nine, i think you have to recover 18% to where you were. i'm kind of surprised that gold didn't go up just on fear in the aftermath of boston. why didn't it? >> gold is a misunderstood asset. it started selling off on friday. friday had a big drop. actually, it was a huge drop after thursday's ministers meeting in the euro zone community where they felt that the cyprus folks will have to sell gold in the market to raise money because they weren't going to get money. dennis: i can't believe that

cyprus had that much gold to affect prices so this was a fear factor even before the evidence of monday. >> exactly. dennis: i thought gold goes up overall when there is a lot of fear and it seems like in the wake of boston, there's not fear? >> gold prices are political and economic barometer, more of an economic barometer and recently, gold lost a lot of investors as asset managers moved money out of gold into stocks because you've had a very booming stock market for months, five months. and that was too much for money managers who are getting calls from fund holders. why am i in a non performing asset like gold when i can be in the stock that's moving? dennis: i imagine clients are happy with that kind of flow but dare i buy gold now as a hedge or do you think that it's going to go down to the $1200 range the way some people are predicting? >> i don't predict numbers but i predict time and i predict actually open interest which i watch very carefully which is

very interesting that today, the open interest on gold was 426,000 contracts in round numbers which isn't very different from what it was so all that meant to me was that there was a tremendous amount of hedging and at the end of the day, after all that selling on friday and all that selling on monday, we did pick up 10,000 contracts and that's not very much of hedging, probably from mining companies who wanted to lock in prices just in case. dennis: shouldn't gold be bouncing back better than it is today if it is already oversold? >> that happens to be a very good question because gold basically people buy to prevent their currency from eroding. and lately, the dollar has not been eroding. dennis: it's been way too strong. the latest inflation numbers show we have deflation going on. >> correct and gold is basically to prevent loss of purchasing

power. so when you don't have inflation on the horizon and people have been even getting out of the tips bonds as you can see and they've been looking for performance in stocks, so gold has not seen inflation. low interest rates have commodity prices low also. dennis: if we end up going into deflati deflation, will gold be a good invest snment >> gold will be a good investment when you start to see inflation. dennis: and some businesses in boston's back bay are still closed after the bombings yesterday. we'll hear from the president of the boston chamber of commerce next and first as we do every day at this time, let's take a look at oil which has been way down lately and continues to slide a little.

cheryl: welcome back to "markets now" and our live coverage of wall street's reaction to the boston marathon tragedy of yesterday. we're standing, of course, outside of the new york stock exchange but inside, nicole is watching the numbers. what do you have, nicole? >> that's right. take a close look at some home builders and the housing starts came in pretty good and these numbers were going early although i'm seeing them pull off the earlier high. while i'm telling you that, the numbers we got in, you do see up arrows. toll brothers pulling back but down just one tenth of 1%. we've come off the highs, though. many names were up 2% and 3% but the march housing starts was up 7%. that is the highest level since june 2008 before, pre the financial crisis.

there's two factors. want first is that we've seen these numbers have run up significantly. a one year chart, about 150% on that one. k.b. home, up 163% over 52 weeks. home builders have done very well over 52 weeks. that's number one. the second thing we should note is a building permit. building permits give you an idea of what we're going to see going forward and the numbers that came in, a little less than the economists had expected. they came in, an indication of future construction which is what i said fell 3.9% to an annual rate of 902,000 in march and that was below the consensus estimates so that's the one bit that was interesting to note. but housing starts overall, as i noticed, looking good. obviously an indication of the housing recovery that we've seen since the financial crisis and we've seen housing starts jump 7%. most of those names are holding

on to a little bit of green. that's the latest here at the new york stock exchange. cheryl: all right. i'm glad you're looking at that sector. those were some of the best performing stocks in 2012. dennis, more sign that the economy continues to pick up steam and i know that you are able. dennis: i am. yesterday not withstanding. thank you very much. next up we go live on the streets of boston with the very latest on the bombings and the search for suspects. first here's how the world's currencies are fairing against the u.s. dollar. [ engine revving ]

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>> this is your fox news minute. there's been a major earthquake that's struck both sides of the iran and pakistani border. described as the strongest to hit iran in 50 years. pakistani tv reporting six people dead but reports vary widely. iranian tv has said at least 40

dead but later said iran had no fatalities. u.s. marine helicopter made a hard landing and crashed during a military exercise in south korea. all 21 folks on board did survive. 15 already released from the hospital. six in stable condition. the u.s. has approximately 28,000 troops that remain stationed in south korea. and a policeman pleading guilty to attempted espionage for selling military secrets to an undercover f.b.i. agent. he believed he was a russian spy and that's not the movies. that's real. those are the headlines this hour on the fox business network. dennis, i'll send it back to you. dennis: thanks very much. the f.b.i. is leading the investigation into who was responsible for the boston bombings that resulted in three deaths and left 176 people

injured. fox news is live near the finish line. what is the latest? rick: authorities here say they don't have anyone in custody but they are questioning quite a few people. they're questioning people all across the city in reality. they've been going to local hospitals interviewing witnesses and one of the things that have been reported is that there's a person of interest in the case, that there was a young man from saudi arabia originally here at the scene of the boston marathon that was injured, that he's in a hospital here in boston and that he's been spoken with and questioned. related to that, an apartment building in diane macedo just outside of the city of boston has also been searched. an apartment there has been searched. we have a huge team of fox news producers here on the ground. one of the producers managed to get over to the apartment building and did a long walking interview with other members of the boston media with a roommate of the man that is in a boston hospital now, injured, and that roommate said that actually

there are three people from saudi arabia that live in the apartment and that the man that's injured is a student here in america and that he's studying english. we also had a chance to do an interview with the young woman who lives in the apartment building. she was actually here at the boston marathon, witnessed the bombing, returned home and take a listen. this is what she saw when she returned home. >> i was in boston today. i saw the whole bombing. i saw everything. to come home and see the cop cars here, go upstairs, go out and come back here and there's a bunch of people here and to know that itsz right next to my house. do you know what i mean? wouldn't you feel uncomfortable like that? like knowing your neighbors can be do something like that? >> so really what we know right now is that people are being questioned, spoken with. there are places that have been searched relating to the investigation but right now, authorities are not saying if they have information about who did this, how many people were involved, if there's a motive. still a lot of unanswered questions as far as the investigation is concerned.

dennis: okay. what can you tell us about the casualties at area hospitals? >> numerous area hospitals took in casuals. 176 people severely injured, some -- there are 17 people still in critical condition. many of those injuries described really as the things you would see in war zones, shrapnel wounds, loss of legs and amputations, including severe injuries to children. this bombing occurred about 3:00. it was late in the day of the marathon. there were still a lot of runners crossing the finish line so people of all age ranges were hit. some of the trauma surgeons have come out from the various hospitals and talked a little bit about what they're seeing. >> many of them have severe wounds, mostly in the lower part of their body. wounds related to the blast effect of the bomb as well as small metallic fragments that

entered their body and some of them have additional injuries that we're addressing. >> some of the information there coming from mass general hospital. we're also getting information from boston children's hospital. there are a number of children still being treated there. 2-year-old boy with a head injury, 10-year-old boy with multiple injuries in critical condition, a 9-year-old girl with a leg injury also in critical condition so really, some of the weakest among us, the youngest among us were among the victims. back to you. dennis: thank you very much. cheryl? cheryl: dennis, yes. i'm standing by here at the new york stock exchange once again and obviously security is heightened all throughout manhattan because of the terror attacks in boston yesterday and what we saw happen there but nobody knows about security,

especially at large scale events, than bo dietl. large scale sporting event like the boston marathon, that was the target of whomever did this. homegrown or international, we don't know but this is what we know right now, though. >> what we know right now is that someone set two devices off yesterday, intentionally to maim and kill people. that's exactly what happened. as far as who is responsible, we do not know. it's the flowing investigation. there was a lot of misinformation yesterday. they said that they recovered unexploded bombs and they said they had a detonation of an explosive. a lot of stuff is coming over the wires and it's not true. like i say, i keep repeating, flowing investigation means that the terrorist task force is involved with the f.b.i. and the boston police department and now they're following through. you have now the phone calls that are coming into the hotline

now you have this saudi arabian guy there. he could have something to do with it or nothing to do with it but people have to realize this is developing as we're talking and nothing. all we know for sure is whenever you have large groups of people, sporting activities, sporting events, this is the target. we did the security for the u.s. open in 2002. we had enormous security. every time there's a marathon in new york after 2001, 2002, i think we had about 6,000 officers there. they tried to minimize the risk. will you ever be totally secure? no. but whenever there's large groups of people and when people want to have body counts, they'll look for large amounts of people. cheryl: i know you're dialled in to counterterrorism groups in new york city, federal and local. what do you see different today versus what we had yesterday? >> i'm looking around over here. i don't see too much different here but all over the city, all over the city i see the

counterterrorism there. we have ray kelly here. he's the greatest commissioner i think we have had dealing with the terrorists. you go all other locations and it's really beefed up. i should respect him in one sense. this is pretty confined. you can't get through here too easily but again, someone with a backpack, you have all these people here, you can't stop it. but you have to try to minimize. you have dogs walking around here and these are bomb sniffing dogs and again, people have to be aware. people see something, report it. you see somebody, that's where we're going to win the terrorist attack. cheryl: thank you for joining us, especially today in front of the new york stock exchange. fox news contributor. dennis, going to send it back to you as we continue to watch wall street reaction after what happened in boston. cheryl: astocks and gold were ld to the worst day of the year. take a look at some of today's s&p 500 winners. i'm telling you right now, the girl back at home

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dennis: here's the very latest on the boston bombings. markets rebounding after yesterday's incident sent stocks and gold down to the worst day of the year. a large area of back bay boston remains cornered off, businesses closed as authorities search for clues in the bombings that injured 176 people and killed three. the white house says the bombings are treated as an act of terror and sources tell fox news, the bombs reportedly were made of pressure cookers filled with ball bearings.

back to cheryl at new york stock exchange where security is getting tighter. cheryl: yes. thank you. and yes, fox business is live out in front of the iconic new york stock exchange because security has been increased and only around this icon of new york city but other landmark buildings, especially times square and you look at the train stations and the airports around the area, mayor bloomberg making it clear that new york, although no known threat, is on heightened alert as we review and try to figure out exactly what happened in boston yesterday. the new york stock exchange opened for business as most of the time does after events like this. nobody knows that better than nicole who is standing by inside the new york stock exchange watching the market action. >> that's right, cheryl. all traders showed up today ready for business on a sad day but ready for business indeed. and we've seen up arrows erasing some of yesterday's losses. boston properties, when you talk

about it, it was raised from morgan stanley, new price target 123 from 113. a lot of them are doing well today. nato, avalon bay just to name a few with up arrows but other names on the move today with analysts, including boeing, they've been working hard on the new dream line sorry that's something we've been watching. $115 target from $87. they kept a buy rating. citigroup, wells fargo has positive comments there and chipotle mexican bar and grill, up. they also raised panera bread and starbucks just to name a few and i left out croostco. it had a target of 21 bucks. back to you. cheryl: thank you very much. we'll see you at the top of the hour and speaking of markets, a lot of economic data coming in not just today but the past two

weeks. that's something that james has been watching very closely to get his sense of the markets and now to talk about the markets today, we're seeing retail sales come in a little sketchy. we have news out of target that wasn't so positive. you're looking at the overall economy, the labor market. how are you feeling right now about what we're seeing in the number snz >> okay but not great. there's been two weeks' worth of data that's been sub par. restale sales and the employment picture so one has to wonder, is this the delayed effect of the tax hike at the beginning of the year as well as sequestration? it's too early to tell but thankfully we're right here in the earnings season where we'll get a lot of input from corporate c.e.o.'s, et cetera, as far as what they're seeing in terms of demand. that's very important. >> we talk about the financial institutions. we won't bring up apple today. that is our favorite topic. but goldman sachs coming out and trading revenues were actually strong. investment stims were strong. >> i don't have a position in

goldman sachs but my cursory look was that this is good. i know stock is trading down today and that's just short-termism. if you're a long term investor in goldman sachs, i would think you would feel good and not worry about whether the next two to three weeks is going to be bad or good. cheryl: top line was good. speaking of extra security in front of the new york stock exchange, we have some employees there but another thing we're looking although, we have numbers coming out after the bell today. intel, yahoo. when you look at the numbers, do you put a weight into this quarter? comparison to the first quarter of last year, it will be toughest specially for intel. >> those two names are story stocks right now. the story with intel, nobody is expecting anything great for them. not after the p.c. sales numbers from last week and, you know, these guys have been hit hard by mobile phones and smart phones. yahoo is still very much in a turn around stage so with those two, you actually get a bit of a pass. expectations are very low but i think after that as you get more

into the industrial companies, cat next week and you'll get more expects like cat that will give you a better sense how the economy is doing globally overall. cheryl: real quick about china, that was the story yesterday before the talks of boston. g.d.p. was 7% but it's still affecting traders here. >> it is but i will say at this point for a year, maybe a year and a half now, people have been suspicious about the economic numbers out of china so really, if you have a china centric stock, that's pretty much factored into it these days. i wouldn't expect china to really upset the market over the long term. cheryl: they had the ability to do that, unfortunately. james, thank you for coming down. once again, fox business here all day long looking at the extra security measures in place not just here at the new york stock exchange but all around manhattan and lower manhattan

and we do have, of course, heightened police presence all around us right now, dennis. of course, on high alert after what happened yesterday in boston. sending it back to you in the studio. dennis: great stuff. thanks very much. and we've got oil below 90 bucks a barrel. good news if you're filling up at the pump. bad news if you own the contract. we're live at the c.m.e. with how you can play that next. in the meantime, look at the 10-year treasury.

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>> i have your fox business brief. stocks are rebounding as traders cheer around the strong corporate earnings. encouraging reports on the u.s. economy pushing markets higher. international monetary fund is trimming this year's outlook for the global economy. i.m.s. now expects global growth to come in at 3.3%. fund attributes lower forecast to the government spending cuts in the u.s. and continuing economic stagnation in the euro zone. general motors holding steady as the world's second best selling auto maker. keeping its lead over volkswagon after reporting a 3.6% jump in first quarter glebal sales. this from the same time last year. g.m. lost a number one spot to

toyota last year. japanese auto maker scheduled to release the first quarter numbers next week. that's the latest from the fox business network, giving you the power to prosper. ♪

(train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. dennis: oil extending losses into a fourth straight day of trading. sandra has today's trade from the pits of the c.m.e. sandra? >> we're well off the lows of the session right now. crude oil prices throughout the board, they're above $88 a barrel in this session, they had actually dipped below $88 a barrel. so the selloff does continue but we're off the lows. this will be a fourth straight day of declines as we continue to see mass liquidation in the commodities markets, albeit we have gold and metals bouncing back today. look at oil on the month, it's lost about 9% of its value on a year to date basis, oil prices

now down 4%. so there is a rapid decline there. what we are anticipating later this afternoon is some economic data pertaining to the oil market, the a.p.i., american petroleum institute coming out with their supply numbers and we're expected to see another build in crude oil supplies meaning the world economy is using less oil as we continue to see the slowdown and that's leading to a selloff in oil prices. when you talk about the world economy and the world's consumption of oil, you have to also mention brent crude. that spread between the w.t.i. and the brent, it continues to