can determine any lessons learned from what happened. [inaudible question] >> the russians have been very cooperative with us since the boston bombing. obviously, old habits die hard. there are still suspicion. sometimes between our intelligence and law enforcement agencies that date back ten, 20, 30 years. back to the cold war. they are continuing improving. we are committed to working togetter to make sure that those who report to us are cooperating fully in not only this investigation, but how we work on counterterrorism issues,

generally. i think everybody can take a cue boston. you do not get a sense that anyone is intimidated when they go to a family park a couple days after the bombing. there are joggers right now, i guarantee you. i think, one of the thing i have been most proud of and watching the country's response to the terrible tragedy there is a sense of resilience and toughness and we will not be intimidated. we will live our lives. you know, people, i think, understand we have to do everything we can to prevent these kind of attacks from taking place. people also understand, in the same way they understand after a shooting and aurora or new town

or virginia tech or after the failed attempt in times square or in detroit that we will not stop living our lives because warped, twisted individuals try to intimidate. we will try to do what we do witches go to work, raise our kids, go to ball games, ron in marathons, at the same time, we will make sure everyone is cooperating. >> mr. president, you are 100 days into your second term. on the gun bill, you have try to do everything to get it passed. obviously, it didn't. congress has a door to her efforts to try to undo these sequester cuts.

do you still have enough juice? >> when you put it that way, jonathan, maybe i should just pack up and go home. golly. as mark twain said, rumors in my demise may be a little exaggerated at this point. we understand that we are in divided government right now. the republicans controlled the house of representatives. the senate, this habit of requiring 60 votes for even the most modest piece of legislation has dumbed up the works there. i think it comes to no surprise that right now things are pretty dysfunctional up on capitol hill. i am actually confident there is

a range of things we will be able to get done. i felt confident that the partisan work has been done on immigration reform. that will be a historic achievement. i have been very complementary of the efforts of both republicans and democrats in those efforts. it is true that those so kuester is in place right now. it is damaging our economy and hurting our people. we need to live there. we need to do a bigger deal that meets the test of lowering our deficit. it will require some compromises on the part of both democrats and republicans. those conversations are

continuing. i think there is a genuine desire on many of their parts that move past washington dysfunction. whether we can get it done or not, we will see. i think the sequester is a good example. this present faa issue is a good example. you will recall that, even as recently as my campaign, republicans were saying that sequester is terrible. it will ruin our military. it will be disastrous to the economy. then when it was determined that doing something about it may mean that we close on tax loopholes for the wealthy and well-connected, suddenly, you know what, we will take the so kuester. the notion was that we had exaggerated the sequester.

then, in rapid succession, suddenly white house to worse. this is terrible. how can we make this happen. what will we do about potential delays at airports? despite the fact that a lot of numbers of columns were suggesting that the sequester was a victory for them and this would not hurt the economy, what we now know is thatt i warned earlier, what j stood up. and warned repeatedly is happening. congress responded to the short-term problem of flight delays by giving us the option

of shifting money of it designed to repair and improve airports over the long-term to fix the short-term problem. that is not a solution. essentially, what we have done is ensure delays for the next two or three decades. [inaudible question] >> hold on a second. the alternative, of course, is either to go ahead and impose a whole bunch of delays all passengers now, which also does not fix the problem or the third alternative is to fix the problem by coming up with a broader, larger deal. jonathon, you seem to suggest that somehow these folks over there have no responsibilities and that my job is to somehow get them to behave.

that is their job. they are elected. members of congress are elected in order to do what is right for the constituencies and the american people. if in fact they are seriously concerned about passenger convenience and safety, then they should not just be thinking about tomorrow or the next week or the week after that, they should be thinking about five years from now, ten years from now, 15 years from now. we need to come up with a broader deal. that is exactly what i am trying to do. continue to talk about ways to fix this. frankly, i do not think that if i were to veto, for example, this faa bill that that would lead to the broader fix. it just means that there would be paid now, which they would try to blame on me, as opposed

to paying five years from now, but either way, the problem is not good mix. the only way the problem gets fixed is if both parties sit down and make sure that we reduce our deficit, investing in things like rebuilding our airports, roads, bridges, investing in early childhood education, basically things that will help us grow. that is what the american people want. one interesting statistic when it comes to airports. there was a recent survey of the top airports in the world. there was not a single u.s. airport that came in the top 25. not one. not one u.s. airport was considered by the experts and consumers that use these airports to be in the top 25 in the world. i think cincinnati airport came

in around 30. what does that say about our long-term competitiveness and future? when folks say there was some money in the faa to deal with these furloughs, well, yes, they are supposed to try to upgrade our airports so we do not rank in the, you know, bottom of industrialized countries when it comes to our infrastructure. that is what we are doing. the only reason we are doing it is because right now we have folks who are unwilling to make some simple changes to our tax code. that is a long way of answering your question, but the point is, there are commonsense solutions to to our problems right now. i cannot force republican to

embrace those common sense solutions, i can urge them to, i can put pressure on them, i can, you know, rally the american people around those common sense solutions, but, ultimately, they, themselves, will have to do the right thing. i suspect numbers in the house as well who understand that deep down. they are worried about their politics. it is tough. their base thinks that compromise with me is somehow a betrayal. they are worried about primaries. i understand all of that. we will try to do everything we can to create a permission structure to do what they can that is best for the country. it will take some time. >> as you are probably aware, there is a growing hunger strike

in guantánamo bay among prisoners there. >> well, it is not a surprise to me that we have problems in guantánamo. when i was campaigning in 2007 and 2008 and when i was elected, i said we need to close one, moe. i continue to believe we need to close guantánamo. it is not necessary to keep america safe. it is expensive. it is an efficient. it hurts us, in terms of our international standing. it lessens cooperation standing. it is a recruitment tool for

extremists. it needs to be closed. now, congress determined that they would not let us close it. despite the fact that there are a number of folks currently in guantánamo that the courts have said could be returned to their country of origin or potentially a third country, i will go back at this. i have asked my team to review everything that is currently being done, everything we can do administratively and i will reengage with congress to try to make the case that this is not something within the best interests of the american people. it is not sustainable. the notion that we will keep over 100 individual in a no man's land that even at a time when we have wound down the war

in iraq and afghanistan, we kept the pressure up on all of these transnational terrorist networks. when we transfer detention authority in afghanistan, the idea that we would still maintain forever a group of individuals that have not tried, that is contrary to who we are. it is contrary to our interests. it needs to stop. now, it is a hard case to make because, you know, i think for a lot of americans, the notion is, out of sight, out of mind. i will go back at it. i think it is important. i do not want these individuals to die.

obviously, the pentagon is trying to manage this situation as best they can. but, i think, all of us should reflect on why exactly are we doing this. why are we doing this? we have a whole bunch of individuals who have tried who are currently in maximum security prisons around the country. nothing has happened to them. the individual who attempted to bomb times square, he is in prison serving a life sentence. individuals who try to bomb planes in detroit, in prison serving a life presents. somali, imprison. we can handle this. i understand that in the

immediate aftermath of 9/11 white, for a lot of americans the notion was somehow that we had to create a special facility like guantánamo and we could not handle this in a normal, conventional fashion, i understand that reaction. we should be wiser. we should have more experience in how we prosecute terrorists. this is a lingering, you know, problem that is not going to get better. it will get worse. it will fester. as i said before, we will examine every option that we have administratively to try to deal with this issue can't talk, ultimately, we will also need

some help from congress. >> why does a senator, somebody who helped write your bill, believe -- >> well, you know, i think that anytime you are implementing something big there will be

people who are nervous and anxious about it getting done. let's just step back for a second and make sure the american people understand what it is we are doing. the affordable care act, obamacare has now been with us for three years, it has gone through supreme court has, it has gone through efforts to repeal. a huge chunk of it has already been implemented. for the 85-90% of americans who already had health insurance, they are already experiencing most of the benefits of the affordable care act, even if they do not know it. there are insurance more secure. insurance companies cannot drop them for bad reasons. their kids are able to stay on their health insurance until they are 26 years old. they are giving free

preventative care. there are a whole host of benefits. this thing has already happened. their only impact is that their insurance is stronger, better, more secure than it was before. that is it. they do not have to worry about anything else. the implementation issues common for those that do not have health insurance. maybe because they have a pre-existing condition and the only way they can get health insurance is to go out on the individual market and they are paying 50% or 100% more than us who are lucky enough to have group plans. maybe they work for a small business and the small business cannot afford right now to provide health insurance. all of the implementation issues

that are coming up our implementation issues that are related to that small group of people, ten-15% of americans who do not have health insurance right now or are on the individual market and are paying exorbitant amounts for coverage that is not that great. what we are doing is setting up a pool so they can all pull together and get a better deal from insurance companies. those that cannot afford it, we will provide them with some subsidies. that is it. that is all that is left. the other stuff has been implemented and it is working fine. the challenges are setting up a market based system, and online marketplace where you can go on and sign up and figure out what kind of insurance you can afford

and trying to get the subsidies. when you are doing it nationwide, relatively fast, and you have half of congress who is determined to try to block those implementations and not adequately fund implementations, you have a number of members of or governors, republican governors, who know it is bad politics for them to try to implement this effectively. when you have that kind of situation, that makes it harder. having said all of that, we have a great team in place. we are pushing very hard to make sure that we are hitting all of the deadlines and benchmarks.

i will give you a recent example we put together initially and application form for signing up for participation of the exchanges. it was initially about 21 page long. additionally, everyone sat around the table saying it was too long. especially in this age of the internet. people will not have the patience to sit there for hours on end. let's streamline this. it is a form that is about three pages four and individual, a little more for a family. those are the kinds of refinement we will continue to work on. the message i want to give to the american people is, despite the sky is falling predictions about this stuff, if you already have health insurance, then now

part of obamacare that affects you, it is pretty much already in place. that is about 85% of the country. what is left to be implemented is those provisions to help the ten-15% of the american public that is unlucky enough that they do not have health insurance and, by the way, some of you who have health insurance right now, at some point you may lose your health insurance. if you have a pre-existing condition, this structure will make sure you are not left vulnerable. it is still a big undertaking. we are making sure that every single day we are constantly trying to hit our marks it will be in place. the last point i will make, even if we do everything perfectly, there will still be glitches and bumps. there will still be stories that could be written.

this thing is not working the way it is supposed to. this happened and that happened. that is pretty much true of every government program that has ever been set up. if we stay with it and we understand what our long-term objective is. nobody should go bankrupt if they get sick. we would rather have people getting regular checkups then going to the emergency room because they do not have healthcare. if we keep that in mind, we will be able to drive down costs, improve inefficiencies in the system, we will be able to see people benefit from better health care. that will save the country or money as a whole over the long-term. [inaudible question] >> i think it is harder. no doubt about it. we will implement it.

yes, it puts more of a burden on us it is ironic since all of these folks say they believe in empowering states that they will end up having the federal government do something that we would actually prefer states to do, if they were properly cooperating. last question. tell those big guys to get out of your way. [inaudible question]

>> yesterday the mexican government said law enforcement will now go through a single job. is this change good for the u.s. relationship with mexico? >> on immigration reform, i have been impressed by the work that was done by the gang of eight in the senate. the bill that they produced, the bill that i would have written or elements that i would change, i do think it meets the basic criteria that i've laid out from the start. we have to have more affective border security, although it should build on the great

improvements that have been made on border security over the last four-five years. we should make sure that we are cracking down on employers that are gaming the system. we should make the legal immigration system work more effectively so that the weights are not as burdensome, the bureaucracy is not as complicated so that we can continue to track the best and the brightest in a legal fashion. we want to make sure that we have a pathway to citizenship that is tough, but allows people to earn, over time, their legal status here in this country. you know, the senate bill meets those criteria. in some cases, not in the ways i

was, but it meets the basic criteria. it is a testament to the senators that were involved. they made some tough choices and made some tough compromises in order to hammer out that bill. i have not seen what members of the house are you proposing. maybe they think they can answer some of those questions differently or better and, i think, we have to be open-minded in seeing what they come up with. the bottom line is they still have to meet those basic criteria. is it feeling with employers and how they work with the government to make sure that people are not being taken advantage of or taking advantage of the system, are we improving our legal immigration system and are we creating a pathway for

citizenship for the 11 million or so who are undocumented in this country. if they meet those criteria, i think we should be able to come up with appropriate compromise. if they do not, then i will not support such a bill. we will have to wait and see. we've spent so much time on security issues that -- between the united states and mexico that sometimes i think we forget this is a massive trading

partner. we want to see how we can deepen that, how we can improve that and maintain that economic dialogue over a long period of time. that doesn't mean that we're not going to be talking about security. i think that in my first conversation with the president, he indicated to me that he would very much continue to be concerned about how we can work together to deal with trans national drug cartels. we've made great strides in the coordination and cooperation between our two governments over the last several years, but my suspicion is that things can be improved. and some of the issues that he's talking about really had to do with refinements and improvements in terms of how mexican authorities work with each other, how they coordinate more effectively and it has less

to do with how they're dealing with us, per se. i'm not going to yet judge how this will alter the relationship between the united states and mexico until i've heard from them to see what exactly are they trying to accomplish. but overall, what i can say is that my impression is that the new president is serious about reform. he's already made some tough decisions. i think he's going to make more that will improve the economy and security of mexican citizens and that will improve the bi lateral relationship as well. i don't want to leave out we'll also be talking to -- during any visits to costa rica, presidents of central american countries, many of whom are struggling with both economic issues and security issues but are important partners for us because i think the vision here

is that we want to make sure that our hemisphere is more effectively integrated to improve the economy and security of all people. that's good for the united states and that will enhance our economy, that can improve our energy independence. there are a whole range of opportunities and that's going to be the purpose of this trip and i'm sure that those of you who will have a chance to travel with me will have a chance to discuss this further. all right? thank you very much, everybody. thank you, guys. connell: president obama wrapping up a news conference. he took only one additional question. hold on here. >> he seems like a terrific young man and i told him i couldn't be prouder of him. you know, one of the extraordinary measures of progress that we've seen in this country has been the recognition that lgbt community deserves

full equal. not just partial equality. not just tolerance but a recognition that they're fully a part of the american family. and, you know, given the importance of sports in our society, for an individual who has excelled at the highest levels in one of the major sports, go ahead and say this is who i am. i'm proud of it. i'm still a great competitor. i'm still seven foot tall and can bang with shaq and deliver a hard foul and, you know, for i think a lot of young people out there who, you know, are gay or lesbian who are struggling with these issues to see a role model like that who is unafraid, i think it's a great thing. and i think america should be

proud that this is just one more step in this on going recognition that we treat everybody fairly. and everybody is part of a family. and we just people on the basis of their character and their performance and not thhir sexual orientation. so i'm very proud of him. connell: kind of interesting to see president obama take one more question there on the big news yesterday out of professional sports, jason collins becoming the first openly gay male athlete that's active in a professional sport in the united states. dagen: that's right. it is safe to say that he covered possibly every topic that he could have covered in the last 45 minutes or so, particularly with jason collins. connell: i started to say before he came back he only took one additional question. it started with ed henry on fox news and went through a number of topics but never got to any of the other reporters from the associated press and other places which is kind of interesting in and of itself but

did cover a lot of grounds. dagen: and rich can cover that for you. >> i have three minutes now. how about that? dagen: they only gave you one, a minute and a half? shame on them. >> we'll do two. this is a presidential news conference. and as usually happens with the president, a lot of it is focused on his relations with congress, we talked a lot about the sequester here at this news conference saying that the only way the president says to lifl the sequester, those automatic spending cuts that kicked in a couple of months ago that led to the f.a.a. furloughs and people losing spots in head start, something the administration points out as well as f.d.a. food inspectors, things along those lines, the president says there has to be a larger budget deal with all of this that involves tax increases by closing tax preferences, deductions or loop holes and he basically slammed congress. >> you seem to suggest that somehow these folks over there

have no responsibilities and that my job is to somehow get them to behave. that's their job. they're elected, members of congress are elected in order to do what's right for their constituencies and for the american people. >> and by that, the president means acquiescing to getting the tax breaks and filling in tore what is known as the sequester. he said as predicted, we saw flight delays and congress went back and fixed it but what undercuts his argument is he keeps signing the smaller fixes to the spending cuts, not the overall deal he wants and there's no movement right now on a congressional level to get a broader deal. he talked about health care, was asked about max's comments that the healthed care law was unfolding as a train wreck. he said people are nervous that he won't -- or it won't get finished. one other note here. he says he's confident that congress can accomplish some

things. he pointed specifically to the immigration proposals that have been coming out of congress that have been moving in the house and the u.s.t still calling for the larger deficit deal, one that involves tax increases, something that republicans say no way. back to you. dagen: and the republicans portrayed in the comment about making them behave as naughty little children for lack of a better phrase. thank you, rich. connell: thanks, rich. we'll go to markets as well which we haven't pointed out because we were covering the president there for the last -- well, the better part of the last hour. the dow down by 14 points now. down by much more than that earlier after some disappointing manufacturing data. dagen: dow still hanging on to a gain for april. sixth straight months of gains for the s&p 500 and the nasdaq. how do you make money? charles payne knows. he's here and add a little beauty to your portfolio. don't call it boring because it's not. >> it's not boring. do you know what i like more

than this is the idea that mercer mayers is getting all the attention with the press and there are a whole lot of women running these large corporations who are doing very well that will probably start to get on the news. avon beat wall street estimates. there's some work to do but if you look at -- dagen: it was a loss, wasn't it? >> they beat the street, though. they lost less than wall street thought they would. she started about a year ago. the stock began to freefall. they missed earnings a couple of days later, stock hit the bottom in december. $14. we're talking about a stock that's gone from $14 to $24 at one point today in a matter of five or six months. five months. so this is the c.e.o. i think we start talking about the same way we talk about marissa myers. the president talked about ex

co. a lot of americans are having the middle class grown there. brazil up 11% in the hottest market. we still have a lot of trouble. north america, china, the president there fell flat there. this is another name to put up there. she was up for the top job at johnson & johnson and didn't get in. people were kwuszed as to why. she was great at acquisitions, consumer, consumers relations and so far she's done a miraculous job with avon. i had written this company off personally and they were offered by $10 billion and they rejected that. very similar to the yahoo story. dagen: it's appeared to be new ads here in the united states and i wrote a grotesque amount of tv and they are effective. i noticed one yesterday. connell: good stuff as always. another big story today and home

prices on the rise. home in phoenix that is recorded the biggest annual gain. bob shiler will come on and talk about that. dagen: and volatility with -- i'm saying this. yeah. hog prices and other commodities due to the wild weather patterns we've been getting. connell: thank you for that. dagen: there you go. pig at the trough. uncle sam borrowing money. that's how much it costs right now. 10-year yield. it's a brand new start.

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>> hi, everyone. i'm diane macedo with your fox business brief. americans are feeling a bit more optimistic about the outlook for the u.s. economy. this month index from the conference board rose more than expected to 68.1. that's the highest level since november but the index remains below the level indicating a healthy economy. according to an s.e.c. filing, filers can cast their vote on

june 11 to separate the conglomerate into two companies. the board has unanimously approved the split. and general electric will pay $40 million to settle a lawsuit with shareholders. according to court documents, g.e. was accused of misleading investors about the health of the company during the 2008 financial crisis and that's the latest from the fox business network, giving you the power to prosper. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours.ero heartbur

connell: let's get to the markets and nicole for -- well, i guess the first time this hour. we were covering the presidential news conference. stocks were down more than they are now. now it's almost to even. >> at the lowest point today, dow was down about 84 points. that was a level of 14,734. interestingly enough, we actually saw the market trending higher during the time our president was speaking and that's unusual.

often we see it turning lower but it did move here. you can see there that the nasdaq and s&p 500 moved into positive territory and the dow is not too far off the levels, getting closer to positive territory. i.b.m. raised dividend. pfizer was out with the quarterly numbers and that's one of the names weighing on the dow jones veils. back to you. dagen: thank you. prices in 20 major u.s. cities up 9.3% in february from a year ago. the biggest gain in almost seven years. that according to the case shiller home price index and there's robert shiller, coauthor and he's also a professor of economics at yale university. bob, good to see you. >> hi, dagen. dagen: can we keep up this kind of pace, north of 9%? >> i suspect we will for the summer. how much longer is a big question. i think we're living in a very abnormal market with a lot of government stimulus that might be withdrawn.

and the spirit isn't, i think, quite back to what it was during the boom years. dagen: when you say spirit, the fever, the fervor, is that what you're talking about? isn't that a god thing? >> well, it can get excessive and that's what brought this financial crisis. people were in a mania about housing in the early 2000s. i don't think that's going to happen again. not for another generation. these are rare events. some people think we could be off to the races but maybe we are but it would be unlikely. we're such a different economy now than we were, say, seven or eight years ago. dagen: but you look at the home price increases, the year over year increases we've seen in a place like phoenix. north of 20%. how is that not a mania? >> i think penix m a mania. i don't know. las vegas might be. but they're playing a dangerous game. those are cities where it's relatively easy to build and the

last time it ended badly. so i think people will remember, they'll come to their senses before it develops as far as it went. they're just coming back from really low levels. it's not the same thing. dagen: where is the credit coming from? credit is available and i know that the government is -- well, at least touches the vast majority of mortgages in this country but is it really that easy to borrow in a place like phoenix? >> apparently it is. it's getting better. but yeah, i think that the problem is that the government is taking on the risk of mortgages through fannie and freddie and the f.h.a. so that's the way the government likes to stimulate without incurring an immediate tax hit. dagen: but bob, you were talking about the government intervention and i'm kind of reading into what you said, that

some of that intervention starts to disappear a little bit, then that couldake the air out of these home price increases. maybe that applies to the federal reserve but do you really think any lawmaker in his or her right mind at this point is going to pull back on what fannie, freddie and the fha are doing? >> i'm not seeing that immediately but i can see q 3 and long term rates drifting up even if the fed doesn't raise short rates. they're at historic lows. this is the long term interest rates. i have them dating b we've never been this low before. it's strange, very strange. and that's why it might be a good time to buy. i sounded negative like i don't believe we're going back but look at those interest rates. you know, 15-year mortgage rate of 2.61%? that's hardly over the inflation target. it's just amazingly good deal. dagen: it is amazing.

it really is as are you always, bob. thank you. eat to talk to you, bop shiller, yale university. connell: to foolowup on what you were talking about with house prices going on, what does that mean for industries that are driven by the housing market? dagen: our jeff is at the penny mustard company in wisconsin with more. hey, jeff. >> you hear that? listen to that. dagen: sounds like home. >> that's the sound of progress. i wish you were here. i know you wish you were here, too, because you can smell the wood being cut and burning here. furniture obviously huge. you talked to bob. that's great news to a guy that's making furniture, right? >> yes. it's very good news. any time there's more homes sold, those homeowners, it's a big trigger for them to purchase furniture. that's when people buy furniture is when they buy a new home and it's great for us, awesome news. >> tape a look at the correlation between the home builders and home prices. when prices go up, that's just a

great driver. >> oh, yes. for sure. and the more the value goes up, the more they want to invest in something good quality. they want to buy something american made and we have some really good quality, some good pride in our craftsmanship. >> hand me that real quick. i want to show you. this is america. this is all made in america. that's a drawer of one of their pieces of furniture. this is the bottom of the dra r drawer. only in america. you don't get that at ikea. no offense to our friends at ikea, but there you go. furniture stocks doing pretty good. dagen: thank you, jeff. ikea. connell: in a moment, wet weather in many parts of america. we're going to talk about this coming up and what you might call the hog wild weather patterns. they're drivity

prices. dagen: and here's some winners on the nasdaq today.

connell: so this cold, rainy weather heading for the midwest later this week and that's sending commodities on a wild ride. farmers are delaying their planting. dagen: and we have today's trade. hey, sandra. >> just to give you an idea what's happening with the midwest weather, it's 82 degrees in chicago today. the temperature is supposed to fall off 30 degrees by friday and that's happening throughout the midwest. in a lot of the major growing regions and in a lot of regions where there's construction

proposed, where there's a lot of reason where there's live cattles and hogs roaming. take a look at these live cattle, hogs futures. these are big ones we're watching down here. live cattle futures, lean hog futures all up today. there's concern about what this will mean for the animals as the cold weather comes through. parts of iowa expected to see snowfall. yesterday there was big speculation that this was going to interrupt the barbecue season as we head towards memorial day. so we saw a big selloff yesterday. those futures bouncing back today. lumber futures. this is a big time of year where construction begins and the more wet, cold weather we get, a lot of construction gets delayed. lumber futures after yesterday falling the most in a week, are still suffering their longest streak of losses since 1999. 's certainly a sign of what's happening with the weather and construction, getting slowed as a result of it and by the way,

corn futures finished up in yesterday's session meaning they rallied the most it could rally in a single day because there's concern the farmers won't get in the ground because of the wet weather. corn today down about 1%. coming off the highs just a bit but everything being impacted by the drastic weather forecasts that are out there right now. back to you. dagen: thank you, sandra. do my hog call? connell: once was enough but if you insist. dagen: i didn't do the hog call earlier. connell: dennis and cheryl on the way in for the next hour of "markets now." they're going to talk not about hog calls but the twitter threat to the marks among other things. dagen: and the first legal on line poker game in the u.s. taking place in the next hour. cheryl and dennis are all over that. stay with "markets now." ♪ [ male announcer ] this is karen and jeremiah.

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dennis: it's high noon. cheryl: blockbuster housing numbers out today. home prices up by the most in almost seven years. consumer confidence up as well but the dow down by six points after yesterday's big rally. coming up we have an analyst who says investors are afraid they're missing out right now. dennis: and maybe they should be but today's little drop in the dow, so much different than a week ago when the market tanked and did a bungy bump on the false a.p. tweet. plus we probed the cyber threat of it all with a former f.c.c. enforcement lawyer. cheryl: and get ready to be dealt in. the first legal on line poker game in the united states taking place during this hour. it's happening -- where else?

las vegas. dennis: nicole is at the floor of the new york stock exchange. they want to go green. >> they really do. you saw the market. we were down about 84 points at our lowest point of the day and now the nasdaq and the s&p 500 have moved into the green. dow jones industrials are down about nine points at the moment. pfizer is weighing on the dow jones industrials after the quarterly report so that's the biggest loser on the dow jones industrials. so many names are holding on to the green such as dupont, american express just to name a few. as far as economic reports we've gotten in, chicago p.m.i. weighed on the markets. it was below expectations and that put a damper on things coupled with some unemployment numbers out of the euro zone not good news there. sort of this push and pull action. as far as economic news and even the stocks seem to be mixed. back to you. cheryl: big rally was tough to follow. thank you very much. of course, we'll see you in 14

minutes from now. well, on this last trading day of april, s&p 500 on track to gain for the sixth consecutive month. performance not seen since 2009. next guest says investors' only fear now is missing out on the big opportunity. chief executive officer of united capital joins me now from irvine, california. i don't know if i've heard you so bullish. you really are saying full steam ahead for the markets. >> i think what we're seeing right now, actually, we've got a little bit of trepidation. we've shared it with our clients around the country that we think it will be more volatile from year to year and especially as we approach summer. i don't like to see the stock market doing so well and the bond market doing so well as well. that's not a good sign and typically what you see is that the bond market is almost always right and so we think we'll see volatility but there's really no alternative for way where to invest and as long as the fed is

basically supporting the markets by flooding them with money, we're going to see markets go higher and not necessarily driven by fundamentals. what we've seen is long term i a lot of these companies. revenue growth is not looking that good and we are entering a period where typically we're a little bit choppy but i think by year end, we'll continue to be higher and we suspect interest rates will start to drift higher as well. so the goldy lockses we've been going through the last few hink return at some point but we think again it's a good time to be invested. cheryl: but not soon. even though you're saying get ready for a bumpy ride through the rest of the year, the case for stocks and to buy into stocks is the way to go. you're telling your clients to avoid certain types of bonds. you don't like junk bonds which were really gret in the last three years because everyone was looking for something, any type of performance. you're saying now, get away from them. get away from the long term

maturity stuff. >> yeah. what we're trying to say to people is look. we've been going up pretty steadily for about 3 1/2 years and so what we tell people is you need to rotate out of things that are done really well because what continues to move up is you have a broadening of the markets. smaller cap stocks will do better than the dividend payers. we think emerging rockets have underperformed and that's the scenario you want to look at. we think instead of earning real estate, you want to earn real estate service companies that provide services to real estate companies so rather than going to things that have done really well which probably flat line from here, you want to broaden them to the areas that haven't participated as much. what typically happens is the smart money is doing that and that's why individuals work with advisers, to help them be ahead of the crowd. it seems a lot of people are rushing in. cheryl: a lot of people have hired advisers the last 10

ye overalarket thin we were looking at the sectors outperforming yesterday. in the s&p 500 it was technology. nasdaq is back at levels we had back in 2000 and i'm wondering if you feel like on the technology side of investing, if we're going to keep going higher or if you're still a little nervous about what happened to us 12 years ago. >> no. i mean, obviously none of us want to revisit that buzz we don't have anything like the valuations we had then. when you look at apple or google, you're not talking about valuations, especially when you look at the underlying growth that anybody should be overly concerned about. that doesn't mean the market doesn't continue to be choppy but when you look back to that time, we had p.e.'s of 50 and 60 and 70, three or four times higher valuation than we have today. nowhere near the growth projection. cheryl: but you know, it's good memories because we don't want to lose more money. thank you very much. it's good to see you again. >> thank you. have a great day.

cheryl: you, too. it was one week ago today that the dow took that dramatic drop after hackers sent a false a.p. tweet. now regulators up, future trading commission are holding a hearing on the implications of using twitter to disseminate peter barnes is standing by at the white house. >> well, cheryl, that's right. you know, financial information through social media, twitter and facebook and other place $ a whole new world for regulators but this particular incident, we should point out, was about a hack. a hack of twitter -- of the associated press' account on twitter. a headline that said there were a couple of bombs at the white house and the president had been injured. today the commissihoeras regular meetings with financial firms and high frequency traders and exchanges about technology is -- has added to the agenda a

conversation about this incident and twitter and what, if anything, to do about it going forward. it's not clear that regulators can do anything about stopping this kind of hacking other than urging companies like twitter to improve their cyber security. take a listen. >> by and large, this is twitter's responsibility to be protective and to ensure that their accounts, their services, their technologies not being used. there are a lot of issues that are new issues for regulators and frankly for the market. all market. private sector as well. things stored in a cloud. >> so the cftc for one steply gingerly in this incident but looking at it because obviously some people lost money when the dow dropped 150 points, including high frequency traders with the trading algorhythms. it's unclear what steps it can

and will take going forward. back to you. cheryl: there's just so much they don't know. peter, thank you, live out at the white house. >> you bet. dennis: the cyber threats, legal implications of using twitter to disseminate important corporate financial information. we're joining by enforcement lawyer. ron, when a company has decided to use twitter for real disclosure and the company gets hacked, is it the company's fault or twitter's fault? >> my reaction would be the company's fault and not twitter's fault. one of my concerns is there's already enough rules in place. with all the new reforms, no one never knows the reverb rations they have. we don't know how it will affect others that may not be able to afford it and raise the bar. separately, there aren't enough rules on the books. if there were hackers that used

that hack to manipulate the market, the rules in place to go and prosecute them and if public companies are relying upon social media and the security is not good enough for them, they can go the traditional routes and avoiding using social media. it should be left between the company and social media if facebook or twitter were going to enter into an' agreement whereby they promise certain types of securities and they're in breach, then it provides the companies an opportunity for litigation. dennis: so not much upside for twit to her guarantee security but should the company, if it decides on twitter is way too hackable decide we're not going to disseminate information on twitter, does that take you back to the 1990's? >> it creates opportunities for those social medias, reducing risk or combroufing surt and then it's a free market choice. dennis: today there's high frequency traders that may have been affected by the bogus bungy

jump. why should government worry about protecting high frequency traders? maybe they take their own risks. if they want to trade on a ridiculous keyword, why should government worry about this? >> we have to look at it from the broader implications and systematic risk. you have high frequency traders, the implication can be brought in doubt and have a ripple effect as well so i support the fact that the government is looking into this and trying to understand the catalysts and the repercussions of these actions but in and of itself, i don't think it justifies a need for any added regulations. dennis: we have three multi headed hyrdro heads now going after the twitter disclosure stuff. you have f.c.c. and then you've got the stfc and then the sftc said an ad such as a

prescription drug, you have to make full disclosure within the confines of little twitter. we have contradicty rules, don't we? >> that's always the problem of government. there are inconsistencies with each of the agencies and one of the things i would hope to do based on my experience at the f.c.c. and working with government is that they create more unity on how they work with one another and that's just one of the many inconsistencies that are current in the mafshth marketplace. dennis: let us pray. thank you for being with us. we appreciate it. cheryl: so it's being called a recovery in housing. house numbers posted the highest rise in almost seven years. wait until you see the profit books by investing in real estate overseas. that's ahead. dennis: and president obama insists sequester budget cuts are hurting the economy. we're live at the white house with the latest. first as we do every day at this time, let's take a look. we went out and asked people a simple question:

how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, o thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

dennis: let's look at the key index there. we're 15 stocks in the dow up, 15 down. tech looking good. at&t, verizon, pfizer down. they've had a disappointing earnings. now 15 after. as we do every 15 minutes, let's go to stacks now and nicole at the new york stock exchange and a look at u.s. steel. >> there's a lot of stocks to take a look at, at this time. one is easy to take a look at, u.s. steel. down 1 1/2% today after their quarterly numbers. they had a first quarter loss compared with the year earlier of their profit. they also saw their sales drop more than 10% so there it is, down 1 1/2%. a tough day here and in the meantime, a.k. steel, for

example, actually has an up arrow. both steel companies are down over 25% this year so we know that materials have been a tough group overall and u.s. steel was not exempt from that. today down arrows and a disappointing quarter. we're seeing with the sales drop that's down about 28 cents. back to you. dennis: thanks, nicole. cheryl: time to make a little money with charles payne. okay. a lot of money with charles payne. you like car rentals? >> i love that introduction. my subscribers are in this. i have to tell you, i'm not sure why the street hit it so hard. they did miss earnings which is one of the things the street doesn't like but the net revenues were up 49%. still they were 11 cents short and never the little, -- never theless, gross margins, went from 16%.

backlog was down a little bit but more of the backlog is leasing, hence the higher margin possibilities. 0.62 peg ratios. significantly higher. this stock to me is a screaming buy. take orders through the roof, hoppers will happen in the second half of the year from farmers. by the way, this morning when belaro reported their numbers, they said they bought 2,500 tanker trucks last month. the bottom line is this is not just a blip. this issing about to happen for the next several years. they did the hoppers, they make all of them but the tanker right now is really the real hot segment for all of these guys and inter modal also. dennis: you would rather buy from the company that maybes equipment on top of the rails than for the rail. >> number one rail play, i've loved it for decades because of the connection to mexico and

panama but i think this is one of those stocks so cheap, particularly down here, it has a tremendous amount of room to the upside. dennis: i rarely see such excite many. i love that. >> only a 300-year-old industry. cheryl: warren buffett, remember when everybody turned their heads when he went into rail? dennis: and coming you mean, president obama said last week's airport delays shows the sequester budget cuts are hearding the economy. cheryl: caffeine charged chewing gum. it prompts the f.d.a. to look at the impact that product and other caffeinated food items may have on the nag's children. the impact on companies, we're going to talk about that. as we go to break, take a look at the world currencies and how they're fairing against the u.s. dollar. (announcer) at scottrade, our clients trade and invest

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>> at 22 past the hour, i have your fox news minute. george zimmerman charged with fatally shooting trayvon martin has waived his stand your ground defense.

he would have had to request an immunity hearing under the florida law which says you don't have to retreat if you believe you're in danger of being killed. zimmerman's second degree murder trial will begin in june. he has pleaded not guilty. boston bombing suspect has a new attorney. san diego lawyer and death penalty opponent judy clark has joined his defense team. clark has defended the uni bomber and jared lofner. and holland has the first king in 123 years. queen beatrix ended her 33-year reign. her son, 46-year-old william alexander is the first dutch king since will am iii in 1890 and those are your headlines. back to you. shape they like to hang on to the crown, don't they? thank you very much. here in this country, president obama mentioning the controversial f.a.a. sequester cuts at a news conference at the

white house last hour. here is more on why the president's remarks raised a few eye prous with the reporters. rich? >> they did and some members of congress as well. this is an on going negotiation of how to deal with the sequester, automatic spending cuts that are supposed to last the next decade. it led to the f.a.a. furloughs and some other things you're say seeing and the president is insisting those cuts will continue to hurt the economy. >> it's slowed our growth. it's resulting in people being thrown out of work and it's hurting folks all across the country. and the fact that congress responded to the short-term problem of flight delays by giving us the option of shifting money that's designed to repair and improve airports over the long term to fix the short-term problem, well, that's not a

solution. >> the president also said the only way that we're going to lift this entire sequester, the automatic spending cuts is with a broader deficit deal that also raises taxes by closing tax deductions and tax loop holes. the president has signed yet another smaller fix that does not raise taxes. politically raising some questions among democrats. president also saying it's his job not necessarily to get congress to behave and do their jobs in dealing with this sequester or these automatic spending cuts but he understands a number of republicans have a political base that worries that compromise with the president is tantamount to betrayal. cheryl: war of words starting between the two groups. thank you. dennis: and coming up in the 1:00 p.m. hour, google knows all. melissa and lori intrus you to an economist who says the search engine can predict the market's

next move and he has the results to prove it. 326% return in just seven years. quite a search engine. cheryl: seattle and the big money investment group behind the city's bid for the sacramento kings. they're not giving up. details ahead in the west coast minute. dennis: and neilsen beginning to count who is watching television on line. first a look at s&p 500 winners.

dennis: u.s. home prices hit the highest level in nearly seven years. just ahead we'll tell you how to make a killing in housing overseas. west coast gas prices lower as

chevron reopens a refiny and we'll be live with where price goes from here and the first legal on line poker game just getting underway. we'll deal you in ahead. cheryl: 30 past the hour. stocks every 15 minutes. nicole take a look at best buy. >> we have a look here at best buy, cheryl and dennis. it's moving up over 8%. the news today on best buy, a couple of things happening. they're exiting their europe plan with car phone warehouse group. this is a joint venture and expansion there but now they're out and they're selling their stake in that joint venture. take a look at where it's trading right now. this is a stock up 121% year to date. what's interesting about this sale, at least they get it off the books, they're done with it but they are taking a loss on this one. they're selling it for less than half of what they paid for it five years ago but the big picture is they're done with it and getting out and in the meantime, analysts are liking

this move. best buy was upgraded to a buy rating from a hold with a new price target of $28.17. it's not too far off. cheryl: they're getting the credit for murdering circuit city a couple of years ago. we'll see you at the top of the hour. the numbers today astonishing. the shiller home price index showing the largest year over year growth rate in more than six years. robert shiller on "markets now" attributing much of it to low mortgage rates. >> we've never been this low before. strange, very strange. that's why it might be a go ahead time to buy. i sounded negative like i don't believe we're going back but look at the interest rates. cheryl: that might be the most positive he's sounded in a long time but home prices continue to rise here in the united states, the positive performance in the international market might be something to consider as to where to put your money. that's according to the c.e.o.

of henyon and walsh. that's the most bullish i've heard him in five years but you said investing yoe s -- oversea, there's a larger profit margin. >> if you look at the three major statistics we look at for the u.s. housing market, prices you just touched upon, the best year over year increase since 2006, before the whole housing collapse began, inventory of unsold homes has decreased over 37% over the last year. pending home sales have increased over 8% of the last year. cheryl: i want to stop you because if you're talking about the ways to invest, real estate investment trusts, you can invest in these. just go to van guard and buy it or whatever or you can buy it international reit. you're saying the international is a better investment in real estate. >> it's an investment to consider. the last year if you look at dow jones reit index, up 13% last

year. excluding the u.s., up over 26% the last year. if you look at markets in the united kingdom, markets in asia, they're actually outperforming the u.s. housing markets despite the momentum we're seeing here. cheryl: we have the percentages and i was surprised to see this as well. u.k. up 24%, asia, japan. we know about all the chinese building homes. let me ask you this. most americans, hey're going to have a little trepidation about buying into anything internationally because a piece of real estate is a hard asset and that makes them a little nervous. what do you say to that person? >> i would recommend they look at e.t.f.'s. let the professional managers to invest in for you and manage that. diversification is the key. domestic and international real estate. cheryl: one of the things, fannie mae, i was looking at their predictions for single family home sales. this year it's double dijt, 14%.

2014, 44%. 44% next year for housing. >> it's dramatic. if you look at where the increases are occurring, the only segment that's not increasing right now is the lower price segment, below 100,000, particularly in california. the biggest increasing segment, above $1 million. cheryl: why is that lower? is that because kids coming out of school can't afford to buy a home? >> i think that's part of it. i think record low interest rates and the other part of it, i think the lower, more bargain basement priced homes, that's gone by us and now the more exclusive homes that people feel more confident now are buying the higher priced homes. cheryl: inventories are continuing to drop. we're down more than 30% since 2011. >> it was as high as nearly eight months of backlog inventory in 2011 and now just down to about 4 1/2 months. cheryl: that was funny. i was looking at the different cities. phoenix, you know, huge double

digit growth in phoenix and also if you look at dallas, they broke records, dallas and atlanta. this does signal to you it's game on. >> this rebound is for real and i think it will remain the one bright shining spot of the u.s. economy. cheryl: thank you very much for this. it's fascinating way to invest the real estate and keep going with it. thank you. >> thank you. dennis: caffeine charged chewing gum. the food and drug administration is going to investigate foods with added caffeine. this after wrigley introduced alert energy gum, containing half a cup of coffee's worth of caffeine. while wrigley says the gum is for adult, there's no age minimum for purchase. cheryl: i'll stick with coffee. dennis: there you go. cheryl: well, it's time to put your chips on the table, sort of. on line poker is now legal for the first time in one u.s. state. we'll have details coming up in the west coast minute.

dennis: congressman ryan leading the charge on immigration reform. let's take a look at 10-year fresh -- treasuries. she's still the one for you - you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow.

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>> i have your fox business brief. the obama administration has simplified the affordable care act application form for users just down to three pages. now, the application will enroll new users into the plan's health care exchanges under the new health care law. i.b.m. is hiking the quarterly dividend 12% marking the 10th straight year big blue has raised dividend payout by double digits. i.b.m. also bolstering buy back stock program by $5 million. economic recession in italy produced an unforeseen side effect. a severe shortage of national pizza makers. according to f.i.t.e., despite a long recession and high unemployment, there's a shortage of 6,000 pizza places. a.o.l. cofounder talks with liz at 3:00 p.m. eastern here from fox business. @

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dennis: with the u.s. senate expected to vote on immigration reform as early as next month, much less attention has been paid to an upcoming house propo proposal. for now the house is deeply divided over the issue but republican congressman paul ryan may be the key to changing that. joining me is the "wall street journal" bureau chief. thank you for being with us, jerry. all the attention has been on the floor of senator rubio. >> i think in the senate, marco rubio is important, he is hispanic and he's seized this issue but in the senate there's a real bi-partisan move many. they're putting together what they hope is a consensus, comprehensive bill that looks as if it's got a reasonably good chance of passing. in the house it's not so clear. there's a lot more opposition among conservative rank and file members at the grassroots in the house, a little less sort of high level support and the chances for passage there don't look so great or at least not so easy and the idea of a

comprehensive reform isn't really taking hold there. in the midst of all of that on the house where the road looks tougher, paul ryan is making the conservative case for immigration reform. both as the right thing to do as a country and the right thing for the american economy. dennis: he's painting this not so much on the social more yal grounds that the democrats like to talk about immigration on. he said this is an economic matter. when you look at why japan has been stuck for 20 to 30 years, lack of good dynamic immigration is one of those contributors where it's our strength in the u.s. economy. at the time when jobless rate is so high, will his fellow congressmen buy the idea of let them in and take american jobs? >> we talked about that. pretty much a white working class district, not the kind of place where immigration reform has been easy to sell but as you suggest, paul ryan brings the view of america to this argument

and says this economy needs more workers and yes pren -- entrepreneurs and that's what immigrants are. he's going to take that case to people in the house and in his own district this week. he said the best argument you can make to get this across to people is look. there are 11 million illegal i mean grnts here now. are we going to deport 11 million people ? probably not. that's where he begins the sales. dennis: and it could cause a surge on the economy in the u.s. if we do the massive deportation. it doesn't say wired engineers yearning to drive a measure aides so you have to wonder how it will work. will with have sweeping reform or will it be piece meal steps? >> that's really the key question here because in the house, congressman who is the chairman of the judiciary committee said we're going to do piece by piece. we're look -- going to look at

border security, look at ag visas and maybe get around to looking at what we do to legalize the illegal aliens who are already here. people in the senate think that's a recipe for killing a comprehensive bill. people will cherry pick what they want, leave behind the things they don't want and by the way, that's been the problem for the last several years on this issue. democrats aren't going to buy into something that's not comprehensive because they think high tech people will get their visas for engineers, there will not be anything done by lower skill workers. that's the danger some people see and i don't know if paul ryan wants to turn that around. he just wants a formula for getting the done. dennis: thank you for mapping it out for us, jerry. have a good day. >> thanks. cheryl: time for your west coast minute. leader of a seattle investment group is vowing to continue to fight to buy the sacramento

kings despite a unanimous recommendation from an nba committee that the kings should stay in california. in january they want to sell the team for $550 million. the nba board of governors set to meet the week of may 13. stay tuned on this one. a dream works is partnering with sands china. it's a subsidiary of las vegas sands. it brings the dream works experience. shrek and alex the lion will have various jobs from shows to parade. dream works is down about 3%. look at year to date chart. and speaking of gambling, there's this one. ultimate gambling is a las vegas social gambling site. only those from nevada can make wagers on the site. internet poker has been banned in the u.s. since 2011 but take a look at some big names in gambling who don't like it.

that group is mixed. ceasar is the only name to the down side. dennis: time for stocks now. let's head to the floor of the new york stock exchange and ben, pfizer mixed the first quarter expectations. taking other health care stocks down with it. >> absolutely, dennis. i think the situation with pfizer is pretty much company specific because they lost the ability to sell one of their blockbusters in lipitor. not only did they miss on the earnings per share enough but they lost on the revenue side. this earnings season we've seen companies continue to beat earnings estimates. however disappoint on the revenue side. pfizer missed on both sigh. even if you look in the numbers of pfizer, their cost of sales decreased which is a positive, but that goes, again, to the middle line, not top line growth. they're reducing the cost of sale. so pfizer part of obviously a

bellweather in the health care sector which has been one of the market leaders on the defensive side. we're starting to see money roll out of the more defensive sectors into the high e -- highr b beta or higher risk sector. dennis: pfizer one of the six best performing dow stocks this year but not today. down 3%. thanks very much, ben willis. cheryl: take a look at chevron here. california gasoline dropped to the lowest level in the bay area since april. chevron was forced to close a plant because of a fire but take a look at the last year. excuse me, the intra day. it's down 16 cents today, 121. but here is the energy sector overall. as you can see, with chevron up 13% in the last year and today, here you go again is the one year chart overall and let me show you a year to date chart if we can here of chevron to show you what the company has been

doing. the energy sector, yesterday one of the bigger movers. now looking at the energy sector overalre ending the month and the energy sector still for the month down about .8%. for more on what's happening with gasoline and chevron and oil refining, bill at the pits of the c.m.e. with a few more details that i don't have here. phil? >> well, i'll tell you what, that is the biggest refinery in that area of the world, in california. people aren't hallucinating in san francisco. prices are coming down. if you remember how critical this refinery was, this was really the fire last august that really set the stage for the major rally we had in gasoline prices across california. california consistently had the highest costs in the nation and that's great news with this refinery and this crude unit coming back on line. prices are going to start to fall. now, people in the chicago area are saying, hey, what the heck is going on? our prices are going up. we have the opposite situation. with the floods throughout the

midwest, refinery issues in indiana, a big crude unit there may be coming back on line. it isn't yet but if it does, we could see a break as well. in the short-term, san francisco seems to be gaining. we're losing here in the midwest. prices go up here and down on the west coast. dennis: phil, thank you. >> thank you. dennis: neilsen is beginning to count who is watching television on line. a big part of audience is being left out. that story coming up in my media minute. cheryl: take a look at nasdaq. sears, apple. we'll be right back.

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dennis: tom wheeler is it. the "wall street journal" reporting that president obama will nominate the former lobbyist for cable and wireless companies as chairman of the federal communications commission. he's at core capital partners managing director. he raised money for the two presidential campaigns. and in today's media minute, a fox biz exclusive. millward brown has a list of the most valuable brands. today it names the top five that have gained most in value since 2006. subway up more than 5,000% to almost $15 billion by last year but apple's rise gives total

value of $183 billion, up 10 fold. amazon up almost five fold since 2006 and hermes and verizon almost up 20%. neilsen hopes to run day start to charge advertisers for flowing on the net. they will be measuring on line viewing only on laptops. not on iphones or other smart phones and not on the ipad or other tablets and that leaves out millions upon millions of on line viewers. cheryl: cold, rainy weather heading for the midwest. sandra smith is live with the trade today. >> cheryl, this is no exaggeration, that there are extreme weather forecasts here and they're playing out in the pits of the c.m.e. this is actually the live cattle

and hog pick. you don't see these very often but this is where everything from the hamburger meat to pork meat that goes on the grill this summer, prices are determined here and what's happening is there's a lot of cold, wet weather setting in, in the midwest in the coming days. even though it's very warm now, that's expected to change. so we do have live cattle and hogs back up in today's trading session but yesterday, huge concern about this weather, how it's going to affect the animals and how it will affect the grilling season. if we have cold, wet weather, people aren't out in the backyards cooking things up and also construction affected by the weather. lumber futures selling off, suffering largest streak of losses since 1999 and this is not only the housing market continues to struggle with its rebound but also because all of this wet, cold weather is delaying a lot of construction projects. not as much lumber is being purchased and then there's the grain market. that's a huge benefactor of

what's happening now. corn prices rallied the most the exchange will allow in a single trading session yesterday. they opened to the upside this morning and have since turned around. there's a lot of talk about the next few days we could see drier weather. they might be able to get a few more plantings in the ground than originally forecast. corn down today but still sitting near four week highs. mixed trading action in the grain pit today but this weather, unbelievable. 82 in chicago today. that's expected to fall off by about 30 degrees over the next few days. farmers just are not given a chance to get the seeds into the ground. so something we're all watching here in chicago. back to you. cheryl: you had to brag about the warmer weather in chicago. thanks. >> of course. cheryl: sandra smith. >> we're enjoying it. cheryl: the grilling season, commodities, she's got it all happening in chicago. dennis: and the dow a little positive which i'll take. next up, fallout from the twitter. bart shillton has an interview.

cheryl: harsh words for congress. 100 days in the second term, president obama is criticizing lawmakers' inaction. dennis: we have the economist who says google trends can predict the market's next move. the search for answers coming up. melissa and lori are next. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find se good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade.

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♪ melissa: club. i am melissa francis. lori: hello. i am lori rothman. bart chilton joins us. melissa: president obama says do not blame me. the president urging congress to get to work. lou dobbs in the eyes of

compromise in washington. first-quarter earnings beating the street. s&p christine shortt is here. she is joining us on the new warning signs from wall street. melissa: google knows all. we have the results to prove it. 326% return in just seven years. lori: not bad. i will take that. let's check in with nicole petallides at new york stock exchange. nicole: it has been trying to do so all day long. to the outside, it has now broken out. we are watching here the s&p 500. it is sitting near 1597. it is point to what from breaking its all-time record intraday