stuart: connell, it's you. connell: good to see you, good morning, everybody, all day long, we have the business of travel. day long series on money spent to just get away. we also have good news today on jobs. number of americans filing new claims for jobless benefits down, lowest level since the early days of the recession so we'll talk about that, and the president headed to mexico doing so at this hour to shore up what's been a dicey relationship to some degree with the neighbor to the south. those stories and more coming up on "markets now." ♪ because of the reports, today, get involved as well, do it on twitter, we'd like you to tweet the questions and comments about the travel reports to the fox business account, and just include the hash tag there

"biztravel," all one word. let's begin the hour with lauren at the new york stock exchange. good morning, lauren. >> good morning, everybody. stocks up across the board. we have the broader market higher by more than half of one percent, tech leading the way of up 72 points. we have the dollar strengthening today, and despite that, oil and gold and other commodities all up significantly today. the sectors leading the market, we have tech, especially, with facebook and yelp, and we also have the industrials, boeing, 3m, ups, and proctor and gamble and cisco the top dow components. back to you. connell: good enough. we'll check back. all right. online travel spending surpassing a money million dollars as millions turn to sites you know like expedia and

priceline as they book vacations. ashley webster has travel today bringing us more. yo, ashley, how are you? >> just down the hall way and good. travelers get quotes on planes, rental cars, and so much more, of course, with just the click of the mouse. in the internet world, the travel agencies dead and buried? maybe not. our team of researchers day and night to price the cost of a friendship from new york to los angeles for a family of four, seven days, six nights for flight, hotel, and rental car. what did you find out? take a look. the quotes we got all pretty much in the same range, all around $3600 or thereabouts. kayak, orbitz, and expedia at $3900. we contacted liberty travel, same parameters, and here's what they quoted.

not bad, huh? significantly less, a $2300 for the new york to l.a. trip for a family of four. the online travel price quotes were on average. this quote from the travel agent was the best deal for the summer, period, but if you are flexible in travel plans, you know, travel agents, of course, mean big savings. how about international trip, out of the u.s., same research. this time, a couple travels from chicago to tokyo, seven days, six nights, flight and hotel, this summer, here are the same quotes we got from online and figuring it out, anywhere from $4800 on cay yak up to $5100 on obittz. chirring to tokyo with a travel agent, less. online bookings are a crack shoot. certain accounts appear on a certain day, certain time, and savvy travelers know how to access promotional offers and

discounts, and so on, and everyone, of course, has options, and if you have patience and savvy to navigate the sites, you can still find great deals, or pick up the phone, call the travel agent, and let them do the work for you. in the next hour, more price quotes on trips. you'll be surprisedded, and we'll take a look at the most popular destinations for american tourists both in the united states and around the world: i can tell you this, perfect weather, yes, palm trees, beautiful beaches issue and watch out, some great waves. time to jump on the old surf board. here we go. don't do this in the suit, by the way, and get out of my way. whoo-hoo! take it, connell! connell: no, you got it. why give it back to me? we can keep that for 10 minutes.

he's surfing. that's how we start it off? that's a good one for the biz travel hash tag if you want to go on his suring skills. the travel association reveals most americans unpreprepared for disasters like the cruise ship, you know, the carnival and those things that happened. one in eight had trips impacted by disasters or other events, 29% of those people had travel insurance, so anne, executive editor of smarter travel, up in boston, thank you very much for coming on, and i won't ask you to surf like ashley did, but thed -- the idea of getting travel and then thes it always -- just pros and cons -- always a good idea? should everybody get it? >> it's not always necessary. policies can be overpriced or just completely unnecessary

given the situation. weigh your risk, make sure, make a good decision on ?urntion or -- insurance or not. connell: how do you do that? that's what i figured. knock on wood, i never had a disastrous experience on a trip, and because of the kids or something, you make changes, put a deposit down, and people say, oh, i lost the money. that's where we get the figure we talked about. which is the group or what types of people should be getting travel insurance policy or thinking about it? >> right. it really comes down to, you know, what kind of non refundable prepayments are you giving away because if you can't walk away without -- you know, if you can't afford to walk away, you should buy insurance for the prepayments. connell: okay. i looked at some of statistics on this, not a huge surprise people with children under 18 will one of the groups that are most affected by last minute changes, but also people in the 18-34. that was the group of people

most affected. wonner why that is? because they change plans so much, and they are just whatever comes up, they dropple it and do something else or -- >> right. typically, the cheapest rates for travel are nonrefundable rates, and if you want to be flexible, change plans, there's not many lee way, and in those situations, you know, look for policies such as a change for any reason policy. this way, you're not going to have deal with fine print or wonder whether the, you know, you cancel and are covered or not covered. connell: thank you very much. older british gentleman, who want to surf, should get insurance. thank you very much for coming on. to the markets there, anne was amused by that particular joke. employment report we had this morning, initial jobless claims falling, five year low, 324,000 for the week. rich benson back with us, first time in a while. new position for you; right?

congratulations, and thank you for joining us. we see the market rally up 74 on the dow, news on the economy good. yesterday, we had rough news, market went down. what do you read into that? >> yeah, adp jobs report yesterday was -- you had the markets sell off. today, in fact, in the last two days, investors are acting rationally. sold off bad news, buying good news today. connell: we don't always see that happen, sometimes we explain, hey, the economic news was brutal, and the market's up, why is that? what is a return to rationality, you know, or more rational market over two days tell you? >> well, we have to see if it's the beginning of a new trend or a minor blip. over the last many weeks to a month, month and a half, bad news is met with stock buying because the perception is if there's a bad economy out there, nothing's going to change the qe stance. connell: that's key; right? not just europe, ecb lowers

rate, low interest rate environment, so it's seen as a favorable environment for stocks. >> yeah. connell: does that continue? doesn't seem like anything gets us away from that now. logically speaking, lower interest rates, here to stay in the foreseeable future, stocks should do well, anything missing with that thesis? >> i don't think so. however, we look at the market behaviorally. we don't look at corporate fundamentals, but the models we use suggest that the s&p could very well get in near term trading top north of are we are. we said for several months 1613-1618 the target on the upside. being that we're so close -- tough to tell investors, pile on stocks or go higher. we could make a case there's anywhere from as little as 90 s&p points to 150 points decline, still in the general bull market, but a good healthy shake is something that needs to happen. connell: talking about the technicals there, the levels you

see, and fundamentals below that, corporate earnings, impressed, worried, what do you think of the reports? >> i think, generally, earnings are decent, and i think the market place, in general, is still looking to buy the market when they can, so if we were met with a challenging sell off that, perhaps, puts -- as i say, ruffles the feathers of late to the game buyers, i still thrill, ultimately, portfolio managers play in higher markets overtime. a few years from now, high market it 1778. connell: 1592 and still a couple points. go ahead. >> well, certainly, the potentially of the ce cline along the way, and depends who you are as a manager depends if we care if we sell 5% or 10% or not. connell: thank you very much. you are back with us from wells fargo securities, and charles payne. stocks to watch, well, said he

wants to talk about arch cole. find out why he wants to when he comes in here in a minute. more on the business of travel, delta, big investment in new york city about to be rolled out. ♪ ♪

connell: making money with our friends, charles payne, and you want to talk about arch coal, why? >> call it a bottom, getting ribbing because the stocks are volatile as of late. cliff naturals with stuart and tracy and ashley busting my chops. connell: giving you a hard time? you're bigger than them.

>> arch coal is another play. let me talk to someone reasonable. connell: dagen's out today. >> exactly. i was hoping she was in for the great perspective, but they think we're turning the corner. u.s. coal, consumption's going to be up. by the way, people don't realize coal is still the number one fastest growing sort of energy in the world. still, you know, forget about sew -- solar and wind. connell: meaning those three specifically. >> but don't tell them i said that. it's a big time year over year, weather, and natural gas prices gets to the point where you have to use coal. globally, looking for a big bump in metric use. around the world, both up good. i like those they gave guidance for pricing, all about pricing power. first quarter, $12.68, thinking it's going up to $14.16. same with the other coal.

where the stock is trading, could be a huge move who held on to volatility for a year, double your money. connell: i'm willing to go with it. you have your ideas. >> me and you versus the world, baby. connell: we got this. and lauren who joins us again from the exchange with stocks now. what do you have, lauren? >> hi, guys, talking about ing, the u.s. unit of the dutch financial group, ing, eventually going to be calmed voya which is why they are trading under v-o-y-a. on the new york stock exchange, orange is all over the stock exchange. they deck -- decorated with their logo and koa lores. this opened lower lower at 19.25, up now, good news, and ipo volume is healthy, and, certainly, above last year's volume, but this is a major ipo happening today, and share price

right now is up. back to you. connell: thank you, lauren. the 39 on -- the president on the way to mexico to talk trade, drug war, and more, and, well, this week thursday's get away day here on fox business, and cheryl casone is standing by with the report on the business of travel, cheryl? >> well, did you know that visitors to the united states spend over $2 billion a day, millions every single second? we're looking at the big business of the hotel industry coming up after a quick commercial break. a lot of jobs in new york city impacted, either good or bad, by tourists coming to new york city. they are here to today. we'll talk to a few. you're watching "markets now" live in midtown manhattan. ♪ ♪

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>>21 minutes past the hour now, i'm jamie colby with your fox news minute, seattle, may day protests violent for the second straight year, demonstrators threw bottles, rocks, breaking store windows, and officers used pepper spray grenades to control

the crowds, 17 arrested, eight officers injured. it was a rally to support immigrant rights and labor. north korea sentenced a u.s. sentence to 15 years hard labor for hospital access against the state. media reporting 44-year-old ken was arrested in november, but didn't say what the crimes were, he was this as a tour operator. vatican home to the old and new pope now. pope francis welcomes the 86-year-old pope benedict into the new retirement, a renovated monstary in the garden. he was the first to retire in 600 years. those are the latest headlines, back to connell. connell: thank you very much. more on the business of travel, which we'll report on throughout the day. delta airlines making a huge investment here in new york city set to unvail a 1.4 billion

terminal, but you don't have to go to the airport to see it. delta has a mock up the terminal here in the heart of manhattan, and adam went there, and asked why delta is making the multibillion dollar bet. >> we are new york's largest carrier and owe it to the passengers, and new yorkers are sophisticated travelers, a choice of many airlines here, this is the most airline, aviation market in the world, and, you know, for us, what we continue to realize is you b can't stop investing in the customer. connell: flights come out of the terminal on the 24th of may. when you travel, whether it's for pleasure, business, or whatever, you are going to need a place to stay, of course, and that is big business. for hotel, and more on that multibillion hospitality industry today, we check in with cheryl casone live here in new york. cheryl? >> we are here in midtown manhattan today, and fox business out on the street of

new yo talk to people to see if they are spending. we'll do that in the next hour of "markets now," but as we get ready and markets prepare for the jobs report tomorrow and the numbers last two days not looking pretty, talk about the hotel industry and services sector and what that means to the employment in the country. 1.8 million jobs are created by the hotel industry in the nation every day, and it is big business. if you look at employment in the hotel industry over the last few years, in march 2010, 13 million jobs, that has steadily increased as you can see right now. now, from march 2013, the estimate's 14 million. now, many of the major hotel companies in the country have been seeing a big boost when it comes to revenue and sales, and, actually, in the united states, believe it or not, that is a different story as a change we're seeing over the last six months, and it's been the global expansion that we have been following so closely here on fox business. if you look at where many of the

major chains are looking to expand, it's overseas. the u.k., france, germany, and this asia pacific region, thailand, china, australia, and what i want to mention to you before i send it back is the amount people spend on rooms. we all want to know what the average room rate is in the united states. can you take a guess? what do you think? connell: average room? oh, i don't know, 150-17, 180? higher here, of course, but trying to figure it out. >> a big spender, we're talking 101 is the average room rate. connell: rocking motels, that makes sense. not sure what you get for 101 in new york tonight? >> you'd get a box maybe? connell: maybe, at best. cheryl casone throughout the day live in new york. a lot of traveling today. a business of travel report in just a few minutes will be from the lone star state, a group of private investors looking to build a high speed rail between

the largest cities. high speed rail and immigration a top priority for president obama traveling today, in fact, traveling now, there he is, headed to mexico at this hour. the money in the politics of his trip are coming up. first, a little bit more now on the business of travel. ♪ ♪ you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded experiences really mattered... you suggested luxury car service instd of "strength training with patrick willis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm...

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connell: news alert from lower manhattan in new york city at this hour,ed video of one world trade, lost it for a moment, hopefully we'll get it back, there it is.

the spire at the top of the new world trade center building, 1 world trade, put up today, supposed to do it earlier in the week, but the weather was rough. it's been put off until today. by the time it's fineish and count the spire, it's 1776 feet at the top, and the appointment is it's the tallest building including that in the western hemisphere once completed. that's a big comeback for new york city in a lot of ways. president obama on the way to mix koa pitching immigration reform idea. we have monica crowley in talk about that, preaching to the choir in mexico? >> yes, and not for the first time, talked aaout the immigration policy, how it needs reform. i think a lot of people understand here in the united states that our immigration policies are really in desperate need of reform, and the question is how to go about it? connell: what do you think?

we had people come in, both sides of it, and douglas holtz-eakin was here yesterday on the right side, usually, politically, and people have been making economic arguments in favor of immigration reform and getting it done. do you think it's a good idea? >> the question is what kind of reform are you talking about? america's immigration policy should be in place for one reason, and that's to serve u.s. interest, u.s. economic interest and national security interest. you can no longer be a super power if you can't control your own sovereignty. they haven't. we have seen the succession, refused to enforce their side of the border. president obama went to mexico a couple years ago, made arguments, and essentially it's our fault, we are at fault to a great degree because we don't enforce the border, but where's mexico's responsibility? connell: the statistics the obama administration put out, and statisticically, it's improved over the last few years.

>> depends on what you look at. connell: give us -- >> well, only a small portion of the wall has been built in certain areas, and we're supposed to be far beyond that at this point. deportation sets also in question. there's certain things here that depending on what you look at, seem to have huge holes in itment i think most of the american people want border enforcement first, and then take a look at the illegal pop u -- population. we have in information about who is here. the wisdom is 11 million. how do we know? could be 2 million or 30 million. connell: wouldn't you know that providing a path to citizenship? >> not necessarily. what you do before you go down that road is gather enough information because the solutions, whether it's path to citizenship or something else will be vastly different if you talk about 22 million people or 30 million people. first and foremost, you need to gather information about the population, and then go from there. con exon in the business community, there's support for highly skilled worngers to be

brought in. >> that's what i mean, to serve america's interest, highly skilled immigrants to contribute to the high-tech. >> start businesses, hire americans, everything else. >> absolutely. connell: good to see you. have a good show this weekend. >> thank you. connell: heard around the country and wabc new york. all right, texas not taking a page from california's book with high speed rail. talking about that now. the lone star state using private dollars rather than taxpayer money. rich edson from dallas, hi, rich. >> $10 billion the cost, all private capital. there was a niche in the market and believe they can profit from it. the 240 mile trip between here and houston takes about 4.5 hours by car, some don't want to deal by airplanes, and a bullet train gets them there in about 70 minutes, and they are going to move ahead by building it with private capital. the benefit for taxpayers is if

the project doesn't work, it just goes under. >> ultimately, when you put that kind of investment in infrastructure, somebody makes money on it, but our investor is at risk. that's the model, but it's not one that anticipates a bailout. >> without taking government money, they don't have strings attached to government money, and with private capital, they can push it through fapser, on time, and on cost. it was trieded in taiwan, and eventually, the government went in there, but folks have lessons learned from that and will not repeat mistakes, but there's details about who ponies up the money to invest now, what route they are going to take, and there is government in-fighting here because there's plenty of locations between the areas that want stops on the train. they are working that out. we'll have another report from the group of investors in a couple weeks, back to you. connell: good stuff, live from texas today, business of travel, and it's a big day here at fox

business, not because of the business travel reports, but we also have a new member of our team to introduce to you. this is her first day. welcome aboard. >> thank you, connell good to be here. connell: you look relatively -- it could change, but i get this, when i started. you look relatively happy to be here. it could change throughout the day, but, you know. >> great to be here. connell: started yesterday? >> excited. connell: from local news? >> from connecticut, covered china and northeast asia. connell: high speed rail, which i was on in china. they are no joke. >> it's like you float lo the air. >> enbelieveble. you have the business brief, and what's coming pup up? >> mortgage rates at record lows, and apple dodging a massive tax bill, and alcoa's investment in tennessee. connell: welcome aboard. >> thank you, thank you. connell: we'll have after your

brief, the travel reports, and a wait at the airport, a way to enjoy that and get something done before your flight so if that sounds like a story for jeff flock, and he'll have it from the airport, and new york city, still, the most popular tourist attraction in the world. more with that, and more on the business of travel coming up on fox business. ♪ ♪ ng thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ]

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would absolutely not have taken a zip line in the jungle. i'm really gd that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours. ♪ jobs report: -- jo: the average rate of a 15-year low hitting a record low. according to freddie mack, the rate is 2.56%. a 30-year fixed mortgage hovering near a record low at 3 # pnts 35%. apple dodges potential $9 billion tax bill thanks to a record 17 billion bond issue according to the financial times, by using the proceeds from the bond sales to repay shareholders, the tech giant would avoid paying as much as 35 #% in tax. apple would have had to pay that tax if it dipped into cash

reserves from overseas. alcoa investing 275 million over the next three years to expand its facility in alcoa tennessee. the investment will add 200 permanent and 400 construction jobs. that's the latest from the fox business brief. 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, one 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. ♪

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. connell: news aletter, back downtown, lower manhattan, to one world trade, and already the tallest billing, the spire on the top of it, boy, a great shot, of new york on a beautiful day, as they put it up, the american flag drapes off the building there, just beautiful to look at from that height, a symbol of the come back of the city more than a decade after 9/11, and even the height, 1776, i mentioned a moment ago symbolic in the number they use, 1776 feet, and, anyway, the tallest building in new york.

once they attach the top of it, it's the highest structure in the western hemisphere, 104 foot skyscraper. in terms of gee og fee if you are familiar with the site in lower manhattan, the 16-acre site, once home to the twin towers, of course, there's one world trade, the building we look at now, the centerpiece of the rebuilding of the trade sent i as well as the memorial at the foot there in the shadow of the toshes where they stood, but northwest corner, 1776 feet, and building other buildings as well including four world trade, 72 stories, but the spire is going up, a big story as they get the job done. beautiful day today. more in the business of travel we've. covering, dining at airports taking off as we enter the summer season. jeff flock live in o'hare in chicago with a special guest

with him. jeff? >> a couping reasons for that, we're committed to showing you things we've never seen before. look at this. this is the only aeroponic garden that exists. stopples around here, this is where we are, in the middle of the airport, look out the window. one of the world east businessiest. the garden and all the concessions managedded here as well as a hundred other airports worldwide by hmf's host, huge company, 34,000 employees, and fred is one of the 34,000 running the chicago operation. the concessions you're doing now, your business is on the rise big time. tee me why? because of the air travel? >> we're seeing a couple reason for the rise. one of them is operating concessions, but we found we opened two new wine bars and hit

a new segment we didn't current capture. >> this is not your grandpa's airport food. look at the companies that operate that hms host partners with at different airports around the world, there's tremendous diversity. walk with me, talk about diversity, the stocks of the companies, this is another example of it here. 24 garden. >> sure. here at the garden, we grow herbs and vegetables that we use inside our restaurants here at o'hare. >> travelers want a sophisticated experience to eat; right? not just pizza and beer and hot dogs. >> sure. what we see is a lot of the local celebrity chefs, we've engaged with mr. rick bayliss, and people enjoy the experience they have at the airport while in chicago. >> sometimes you can get travelers come in, usually, off the plane, business travelers eager to get where they are going, got restaurants here, they stop after they've gotten

to town, even though they have somewhere else to go, they eat here. there's a great sushi place if you're into that. not your grandpa's airport food. connell: no, man, a lot of the airports have changed for the better, i think. airports, thank you, jeff, going to airline fares and just prices overall, which, from a consumer's perspective not changing for the better. there's an increase in added fees, pushing one way fare of 29% in the last five years to 250 bucks when you add it all in. joining us, michael boyd to talk about this. i know the fares are up just period, 12% or something, but it's the fees, whatever they get away with now, they pass along; right? >> well, we mere mortals can't understand how many more fees they'll find, but now it's 1.99 at another airline or $25 to carry on, but this makes airlines profitable. if they didn't have fees, they would not be profitable, and, also, we'd pay the same fare if

they just raised fares to be profitable. it's a more equitable way of doing it. con cop they've been looking for awhile and just found it in how the make the airline business make sense. from a consumer's perspective, though, i mentioned coming to you, how much can they get away with? how 1 the pricing power for the airlines? how much will people put up with? that's the commentary on the economic situation we're in. >> well, let's understand this: airlines are no longer just chasing the economy. the amount of capacity that will be there, the number of people carried will be based upon what airline strategies are. the faa still forecasts air travel as if the caboose on an economic train. not the case anymore. airlines now are adding capacity where they think they can make money, and if they have to spill or pull out of the city, they're going to do it. it's not a case of meeting consumer needs as much as it is running a business. to go back to the earlier point i made, average one-way prices

there, as they compare city by city, and look at washington, a place where people just have to travel a lot of times for work and, you know, obviously so much government business done, and the top of the list there, 429 dollars, but the point you are making is important because it hurts people who want to go to small cities, takes forever if flights are not going there. >> well, yeah, it does because the economics of flying an airplane today are different than they were. you can't fly eight flights a day anymorement can't support it. people pay per mile. the ticket prices, in narks, average passenger travels 2,000, just a thousand miles from tulsa. the average price is less, but pay more per mile in tulsa than they are no newark. connell: as always, thanks a lot. appreciate it. >> thank you, sir. connell: lauren with another edition of stocks now from the new york stock exchange standing

by with teddy. >> i am talking to teddy, connell, and we have the market on file today, rebounding and strong, but we still have the market climbing this wall of worry, and one of the things to worry about is the job market, and, also, the fact we were just discussing this that the revenue misses are at 55%. >> that's right. the earnings, it's a trifeck that, it's bottom line -- it's beating the bottom line, top line growth, and it's the guidance, and what's missing from this earnings period is clearly the top line growth, and the excuses are all the same. it's either directly the eurozone or it's currency issues, issues with currency, foreign exchange, in my opinion, just another code word for the eurozone. >> basically, business is bad? >> well, i think, you know, it's funny, we had the first quarter a year ago, saw from companies like dupona and other high profile companies, nobody listened. a year later, but unlike a year ago, now there's the vast that

seniority of companies that are starting to have problems with the eurozone and foreign exchange problems, and, you know, and that, of course, is dollar related. i don't know what the message is. the markets continues to lev at a time. i mean, it does climb a wall of worry, and it's a mistake to fight the tape, but i can't help but think there's a big pothole out there somewhere we're all going to, unfortunately, fall into. >> teddy, thank you so much. back to you. connell: working them all in there, fighting the tape, wall of worry, thank you to both of you guys. continuing the to look at the business of travel today, you know, one of the top destinations of the world is the city we're in, new york city. there's the statue of liberty, the long time new york congressman, charley rangel joins us what is. that's a big day for new york city, the rebuilding of 1 world trade taking place before our very eyes in lower manhattan. more on all of that straight ahead with congressman rangel. ♪

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connell: business of travel, cometting today from new york city, still one of the most popular in the united states, nearly 51 million tourists in 2011, latest numbers we have, and new york congressman charlie rangel joins us live. few people know as much as new york about you, congressman, good source on this. >> i love it. make it here, make it anywhere. connell: that's what they say. the idea of coming to new york as a tourist, watching the rebuilding is taking shape, 1 world trade, and, you know,

nobodiments to come to new york anymore because they are afraid, and then the boston bombings, but people still come here all the time. why do you think that is? >> i think it's natural after a shocking incident like 9/11 or boston. that immediately after that, but when you look as to what makes new york? what people make new york? what is new york -- why are we different? con cop yeah. >> that's because we are the center that people gravitate to that bring to us their language, culture, their food, and their neighbor, the small businesses, and i do believe that new york is just welcomed them because they know how important they are, and ironically, i don't think we wasted that much time being polite to each other, but i have seen so many indications of someone says they are from out of town, we want them so badly to love us because new yorkers have a reputation that we have more self-esteem than we

need, and we really got to impress new york, and love them, and i mean, out of town is that we love them and want them. connell: years later, as the screen on television as we are talking, shows one world trade and the spire going up, as i said, makes it the highest building in the western hemisphere that, you know, on a beautiful tuesday morning in 2001, the terrorists slammed the planes into the towers and brought them down, but i know it took awhile, but rebuilding today, down there, your thoughts? >> resiliency. when we got hit, everybody in the congress knew that the country really basically got hit, and how the first responders and the people showed what it's like to be an american and how much we cared, i think it's a symbol now as a matter of fact. tourists come, not to morn, but to be a part of the recovery so that everyone would know that you come to new york, we are

together. we are solid, and we -- god is so good to america, and not allowing us to be vulnerable like in israel and palestine, and all over the world, and so we've been fortunate, and because of police commissioner kelly, you know, we're about the safest city in the country, so all the movies, our restaurants, wall street, main street, broad street, hey, we got it. connell: are you optimistic, pes pessimistic, worried? the president was asked if he had the quote, juice, to get the second term agenda through. every issue brought up, gun control, immigration, a big fight, nothing's getting done. >> you're right in the observation, but the truth of the matter is that only it only takes a small group of people to throw a monkey wrench in the gears, and that's happening down

in washington. does it have to happen? no. does the president believe whether we talk about the budget, immigration, gun violence, controls, that he can go to the american people, well i don't know how successful he's been, but i do know that if every church and synagogue, every businessman calls up their member of congress in the house and senate and said we didn't pay you guys down there to have this, we need -- connell: do we need more leadership from the president, is that what you're saying? >> no, from the american people. they complain, but they don't call. they don't raise the devil, the constitution provides in the house, the people govern. i'm telling you, there's nothing that moves a legislator more than hearing from a voter. connell: you've done it a long time. thank you, good to see you. more coming up on the business of travel with cheryl and dennis next hour on fox business. keep it here. ♪ is different today.

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♪ dennis: i am dennis kneale. we have stocks rallied. the dow is up. we have a guest saying the stocks will keep rallying compliments of the fed and its crack pipe. everyone. i am cheryl casone. we are exploring their big business of the hotel industry. $2.2 billion spent every day by tourists that come to the united states. we will be talking to the ceo and president of nyc company. this is a big day.

getting more and more busy here in new york city. of course, we are going to go to the floor of the new york stock exchange. we do have a nice rally on our hands today. >> most of this is dating back. like you said, the jobless claims. all the other data that we have been getting, all these reports have been disappointing. you have to wonder what will happen tomorrow morning at 8:30 a.m. eastern time when we get the jobs report from the government. right now, we do have a rally on our hands. the dollar is strong. commodities are strong.

cheryl: thank you very much, lauren. we here at fox business are covering the business of travel and tourism. it is big business. do not be mistaken. take a look at these numbers. the numbers are pretty astounding. tourism generated $55 billion last year just for new york city. i am joined by the ceo of new york city and company. >> our goal is 55 million visitors by 2015. we are well on our way. cheryl: we are finally seeing a rebound in the economy. that means jobs. this is a big week for jobs. are we seeing jobs created right here in new york city?

>> tourism is the fact -- fastest growing industry. there are no sector is growing as quickly as nyc. cheryl: let's talk about the money generated by tourists. $55 billion. a lot of that money, $504 million is spent on hotels. great for all of us. 356,000 jobs here in new york city. it would be nice to see those numbers go up. we have had a little more attention in the city of new york after the boston bombing. >> in all actuality, we have not felt it. our hearts go out to the terrible tragedies.

the reality is, people look at new york as the safest largest city in the united states. without safety, you will never have the global appeal. mayor bloomberg and ray kelly, this has been one of the most important initiatives they have put forward. cheryl: we are all about the numbers here at fox business. are they improving year over year on a percentage basis? >> the numbers are improving. the average daily rate is going up. we are approaching that right now. no other city in the united states comes close to new york city. give or take about $275 this time of year. we are growing year to date. we are up about 5.6% in total

hotel occupancy. $504 million in hotel taxes paid to the city. cheryl: taxes paid, not just by, obviously, the hotels. it is a beautiful day here in manhattan. before i let you go, today has been an exciting day for all of us. we are watching that final part of the freedom tower go up. what does this mean for you as somebody who is a lifelong new yorker? >> it is a wonderful moment for new york city. every day something wonderful is happening. this is very symbolic. i think over the next couple days it will actually be assembled. cheryl: another great tourist

attraction for everyone to come and stay in new york city. thank you. >> a pleasure to be here. cheryl: dennis, obviously, coming up throughout this hour, we will be talking about not just the state of new york, but tourism in general. there are some great investments you can make. that is coming up later on. back to you in the studio. dennis: thank you, cheryl. it is a gorgeous day out there and you are looking even better. taxes not following california's lead when it comes to high speed rail. rich ads and joining us now. rich: it does not seem like we are much closer to being able to

step on one major train in a city and get off in another. they think they can make an awful lot of money. they are better off without government money. >> public financing is one not reliable. you have seen what has happened with that in many cases all around the country. two, it drives a different decision making process. >> 30,000 people travel between houston every single day. by car, several thousand biplane. i know there is a pent-up demand for that kind of transportation. bullet trains traveled 200 miles per hour. rich: they say that the trip between here and houston would take between 70 and 90 minutes

depending on the number of stations they built. we still do not know how much the private investors have raised. this is also been tried in taiwan. they did have to come in and back up some of the loans. investors say they will do things a little differently. learn lessons from taiwan. they want to have this thing possibly built by 2020. dennis: thank you, rich. is the fed is the policy about to get even easier? let's read the tea leaves with our next guest joining us from orlando. two key changes in the statement yesterday. in march, the committee said things are okay. fiscal policy has become somewhat more restrictive. a statement yesterday said fiscal policy is restraining economic growth. just one more for you, gary.

they said in march we will continue the purchase of treasuries. this increase has some out there is thinking the fed may do more. >> even if they do in greece or even if they do not, 85 billion is in outrageous amount of money that they are printing at this point in time. you may be paying banks to keep your money there. you have a flutter liquidity around the globe. i do not think the fed has any interest in letting this down. i think they feel like they are heroes because the market is cooperating right now.

i think it will continue for a long, long while. dennis: some wall street fed watchers that i talked to think maybe by the end of this month, the fed could rub up purchases beyond that $85 million limit. if they did that, will stocks continue to go up? at what point is it too easy? >> look, i go by president. go back to 2009 when they first started with one, quantitative easing. every time we have a correction, they announce another one. all we know right now is the market loves what they are doing. my thought process is great until the market -- i am a big believer everything they are doing is not. it is distorting price in the bond market.

everything is distorted. i wonder when the market wakes up. as of this second it has not. look for clues so far. there are not many out there. dennis: i hear these people, on and they worry about what the fed is doing. they may be right, but they have just been way early. tell me what has happened to the economy that has been dad of -- bad effects. >> they have kept interest rates really low. ridiculously low. interest rates are down. cost of capital is down. we can sit here and talk short-term all we want. what happened in 2008 is an outcome of five years of folly,

of fed policy of keeping rates too low. all they did was keep rates too low. they are taking money of thin air in order to goose things. we will eventually have a 2008 again. i just do not know when. that is why i tell people not to get too bearish. eventually, there will be repercussions. today it seemed like the markets had a little bit of juice in the area that did not have it before. all is well right now. i just do not know all is well that ends well. dennis: so far the kool-aid is tasting pretty good. >> it sure does. thank you. dennis: netflix is getting some real competition. that story ahead in my media unit. more from cheryl in midtown, manhattan.

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♪ cheryl: welcome back to "market now" live in midtown manhattan. initial claims coming out today. lauren simonetti knows full well that the dow is getting close once again to an all-time closing high. this could be the day. >> it could be the day. the s&p 500 just took out its record intraday high. another record-setting day on

wall street. this could be the third record close this week. the nasdaq is up more than 1%. apple, yahoo! and google are each turning in really strong gains today. apple this week, by the way, it started out $417, it is now quite higher. back to you. cheryl: we will see you at the bottom of the hour. dennis, on a nice market day, there are plenty of ways to make money. dennis: there sure are, cheryl. why do they always have the go outside when it is raining. it is time to make money with charles payne. charles: absolutely.

you and i have been around for a long time. we have seen it all. rack space, though, they are having some problems. they missed the topline by 2.5 million by a penny. it is up today. it was $75. all the way down under $50. revenue per server went up to $1310. rackers, by the way, the only place where it is politically rackers. they have so many servers

already. it would be not for one of these companies to not make an acquisition. by the way, they have been around for about a year and a half now. down here at 50 makes a lot more sense. dennis: thank you very much, charles payne. let's go back out to cheryl. cheryl: i am here, of course, in midtown manhattan. we have been talking plenty about the cruise ship. looking at the cruise ship industry. believe it or not, the stocks have been coming back and coming back strong. that when fox business continues. we will be right back. ♪ this is america.

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♪ >> 23 minutes past the hour. hi, everybody. i am jamie colby. this is your fox news minute. u.s. officials telling fox news that north korea -- state media

did not say what the alleged crimes were. meanwhile, seattle police say 17 people arrested so far. eight officers injured after a mayday protest turned violent. the day began just as a rally to support immigrant rights and labor. a truly amazing site in lower manhattan. workers raising the final piece of one world trade center. the building will reach 1776 feet when it is fully installed. quite spectacular. those are your headlines. i am jamie colby. sending it back to cheryl.

♪ cheryl: some amazing pictures coming out of new york today. the big story has been the cruise industry. we want to take a closer look at how the companies are doing. believe it or not, they are actually doing pretty well. >> you know, cheryl, a whole lot of negative television publicity. you may expect the industry as a whole may take a bruising. absolutely the opposite. poor canaveral, where i am, the second busiest port in the world.

they have interior bars and restaurants because it is not very sunny out here today. about 20 million passengers went on cruise last year despite the bad cruises. breakaway debuted in new york city on tuesday. there will be a lot of fanfare next week for that. numbers four norwegian will be out next week. royal caribbean reporting a 62% increase. carnival also holding steady. you can go on a cruise on almost any line right now for $75 a night. 2012 concordia in italy and 2012

fire leaving several passengers adrift for days in the indian ocean. carnival owes all of those ships and is pledging to upgrade its fleet. some remained very critical of the industry. when a passenger aboard a trip, they have an expectation that their trip will be safe and comfortable. it is unfortunate that it has taken this series for carnival to respond with some improvements for passenger safety. there is a passenger bill of rights for cruise ship passengers still also being talked about in the senate. unlike the airline bill of rights, which is a law. cheryl: it is amazing. i cannot believe people still want to take cruises. they love these trips.

the business is doing amazing. thank you, bill. we are covering the business of travel. dennis, i bet you knew these companies would come back and come back strong. dennis: the teflon of the travel business. i cannot believe they have not taken a hit from all of those horrible pr caps. meantime, airline stocks soaring. we have analyst recommendations for the best of the best. take a look at how these stocks are faring today. ♪ friday night, buddy.

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introducing cash flow insight powered by pnc cfo. a suite of online tools that lets you turn insight into action. dennis: almost entirely recovering the dip yesterday. traders loving the cheap money from the fed and the ecb which just lowered rates again this morning. the business of travel continues. we will help make you some money. netflix losing some stream. stocks now, bottom of the hour. let's go to lauren simonetti. >> stocks at annual highs right now. north american sales continue to increase.

their losses in europe continue to decrease. same thing for the consumer website yelp. very good performance from yelp. finally, we have prudential. their q1 loss. all winners. all at highs. all on earnings. back to you. dennis: thank you. cheryl: the business of travel here at fox business. i am going to go to the experts right now. they have the scoop. i want to start with you, david and hotels.

that is my focus today on fox business. if you look at a company like marriott, the stock is not performing well. their business is mostly in the u.s. >> we think it is positive. the u.s. is the strongest region in the world. what marriott is doing is growing its global platform. today, we think their relative exposure to the u.s. is a very big positive. cheryl: i want to get back to the sector for a moment. i want to talk about the airline sector. delta. are they increasing revenues because of asia-pacific? >> there is a bigger picture, in general.

this industry has taken 30 years to consolidate. i think they are finally getting it. you have the revenue model changing. the airlines are all selling off a lot of free cash flow. this is about the way they are running the entire franchise. companies are chasing things like investment, great trading ratings. this is an industrywide phenomenon. it is for investors to recognize this and re- rate the group. now you have stocks up for and five times earnings. cheryl: there are other concerns. i do want to quickly ask you about the names like jetblue and southwest.

it kind of is a factor for the entire factor. >> we had a real winner this year. they were fiscal cliff concerns. sequestration. corporate travel drive these companies. people hiring business travelers. it is not you and be taking vacations. as long as corporate profits are reasonably strong, we can get rousseau kuester. you saw some people change their habits for a month or two and then they resumed. cheryl: they are not just flying overseas, they are staying overseas as well.

>> it has been a very big concern. it has not played out very strongly so far. government group is certainly slow. it is a bigger impact on the washington, d.c. market. overall, we are not seeing a huge impact yet. cheryl: thanks to both of you. appreciate it. hotels and airline sectors are up right now. it is all about the earnings. dennis: we are liking that. stocks are still up. thank you, cheryl. we have hard rock hotels. i talked to the executives. our daylong focus on the business of travel rocks on.

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the new plane will compete feeding a family of four can cost as much as $289 a week. it could cost as little as $140 a week. that budget is if everyone cooks everything at home and avoids fast food and restaurants. that is the latest from the fox business network. giving you the power to prosper. ♪ [ man ] on december , 1903, the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi.

[ baby fussing ] ♪ ♪ dennis: it started with just one café in london. now hard rock has places all over the world.

i wake up hearing about for the past year is meltdown in europe, slowdown in asia. you guys are continuing to expand. >> i think we have a distinctive brand, dennis. we have had three record years of earnings in a row. we are using that capital. a great investment to use capital to expand. our brand is distinct. it is different. dennis: you have a collect data array of markets that you do business in. is there a strategy? >> it is a combination. strategically, we are pursuing casino operations around the world. we have several that we are

looking at. we have several others that we are looking at on the drawing boards. we expect to break ground, perhaps, this year in western hungary. we are working on standalone hotels, resorts and other opportunities in various places. as you say, our markets and customers are around the world. dennis: you talked about china. it is the biggest gambling market in the world. >> we are expecting to sign management agreements in the next week or so. the familiarity with the brand

that we will create will make our casinos outside. dennis: in a recent article, you said you had a goal to strike the deals. are you going to hit that goal this year? >> i am still optimistic that we will. it will be and exciting year. dennis: thank you very much. that sounds fun. what a fun business. good day. >> thank you very much, dennis. dennis: an incredible site in lower manhattan. the final piece of one world

trade center. that is scheduled to be raised up to the building's roof. let's head to the floor of the new york stock exchange. we think that trading is all about people. don't you think that spirit may in fact you guys down there and make you feel a little bit better about life in general? doesn't it make you feel hope? >> every day you get up, you have to feel better about life. this has been ten years in the making.

this going up on top of the building is the finishing touch. you cannot help but marvel at the building. you look at it every day. dennis: i like it a lot. capitalism is now. coming full circle and coming back. thank you for being with us today. cheryl, what is going on out your way. >> we are looking at the commodities market. gold is a big story today. let's bring in phil flynn live from the cme. up over $20 right now on this

contract. >> looking great right now. this market has not looked back. the bulls are back in control of this market. it will be interesting to see how far they can go. we are seeing what is happening with the ecb right now when it comes to this rate situation. the other thing, of course, is the fed. everyone started to believe that the fed was getting ready for an exit strategy. after yesterday's statement they are not necessarily saying that. we will move closer. that is all we needed to hear. it is always nice to be long when you have the central banks

on your side. cheryl: you have hard currency fluctuations around the world. >> i think it will continue. the way that the banks, this race to the bottom, you see that volatility. because of all the confusion, some investors may just put themselves into precious metals to avoid that currently spreading. cheryl: 52 million visitors. a new record high here in new york city. we will give you a nice beautiful shot of downtown. midtown manhattan, excuse me.

a day of travel. we will be right back. ♪

dennis: just when you thought netflix was back, a new report saying it is losing streak. new competition from its own supplier. cbs has launched their own streaming out. comedy central will do the same thing. it is caught in a crunch. it's own bidding hasn't lifted the cost of content. netflix cannot raise its own prices to cover that expense.

so-called high entertainment spenders. these spenders are just one third of the population. they do 70% of all spending. some 53% are female. 25% have kids under age six. 76% of video games. 78% of all music. 71% of all dvds. though they spend far more, they spend far less. meanwhile, shares of three media companies hitting record highs today. walt disney, our parent company news corporation and -- that is your media minute. let's go outside to cheryl casone. cheryl: you can meet people from all over the world.

remember, new york city is the destination when it comes to tourism. take a look at this. $92 million every single hour. i am joined right now from two lovely girls from peru. >> hello. cheryl: girls, what have you been spending money on? >> she just got here yesterday. cheryl: where have you been going shopping? >> yesterday we went to jersey gardens. cheryl: okay. all right. did you see a broadway show? >> we are planning to. we are going to see "motown." >> she wants to get close.

she is a big shopper. i like to go anywhere. cheryl: you live in jersey and she is visiting. you are a good friend. cheryl: they are both from peru. this is typical, dennis. you will always see people coming in. as we have heard, those revenues are projected to be much higher this year. back to you in the studio. dennis: location, location, location.

vacationers pay up to $1000 a night to stay at a rosewood destination. travel zoo joins melissa and lori with this summer's hot spots. ♪ ticker 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, one 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. ♪

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hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ melissa: welcome, everyone. i am melissa francis. lori: i am lori rothman. the fed keeps printing money. jobless claims shopping to a five-year row. melissa: our special daylong series. we have got you covered this hour. rosewood president on why customers are paying upwards of $1000 a night to stay at luxury

resorts. lori: then we will hear from travel zoo on where you can get the most bang for your travel bug. a trip down to the floor of the new york stock exchange. lauren simonetti. >> hi, ladies. the ecb cutting rates. stocks have to go up. up they are going today. we have a new all-time high. we had general motor shares really putting in a solid performance. their earnings and revenue beat expe