dagen: good morning. i am dagen mcdowell. connell: i am connell mcshane. the jobs report was pretty good. the expectations. dagen: 20 somethings with no job. connell: jamie dimon cannot escape the spotlight. dagen: another weekend with warren. he is now on twitter. those stories and more coming up on markets now. ♪ connell: we have warned buffett

tweeting. dagen: we will have to check in on him. connell: let's go to nicole petallides. nicole: a little celebration out there. a monumental day on wall street. the nasdaq composite has the highest levels we have seen. all 30 dow components have been in the grain. we saw at&t's pfizer faltering most recently. we saw 2008 and the jobs added. some good news from the jobs and the labor department.

connell: thank you. dagen: a record day for the dow. the on employment rate was down to 7.5% in april. 165,000 jobs created. this is where the fun starts. revisions. vendor 32,004 february. the second revision for that month. connell: scott bloch is here to talk about the run-up we are seeing in the market today. kate rogers is also on hand. we will talk about billions lost to fraud. dagen: let's start with scott. what do you make of this market?

>> we had a correction a couple of weeks ago. i am using $105 earnings. it is only about a 15.3 multiple here. that is still below the historic medium. also, you have to look at nominal interest rates. it is very hard to get yields. the place to be is in equities. i will make this caveat. it is cheaper and large caps then it is in small and medium. connell: okay. everyone will turn on to the tv today or logon to the internet, dow hits 15,000 they will start to think about the market being to cross. you say no. did a little bit deeper.

what looks attractive right now? >> a bot of the big tech stocks that have really big growth. qualcomm. if you pack it out and paid earnings, 10.5 times earnings. oracle. if you back out the cash they are, that stock is selling at ten times expected earnings as well. this is a great franchise. dagen: in terms of the bigger companies that have done well, it looks like that investors are taking that one baby step from the safety of that. how over value are they at this

point? >> very. they are lucky if they have three and 4% growth. they are selling at 17 and 18% multiples. nominal gdp is roughly four-4.5%. dagen: how overval stocks? >> there are individual names that are good. it is about 19 times earnings. they are extremely overvalued at this point. cheryl: we are always happy to have you down. do you think the celtics can do it tonight against the knicks? >> i do not know. celtic pride. we hope. we are missing ryan, though. connell: it has been a fun series. thank you, scott.

dagen: we stand with boston in many ways. thank you very much. we showed you those significant upward revision for february and march. there is the february number. overall, 114,000 additional jobs created in those two months. what to make of this. >> you know, we have to look at these revisions closely. we also need to realize that the numbers we are hearing today may be revised next month and the following month. people need to pay attention to these. certainly, when you look back at the history of revisions, usually, the numbers are revised upwards.

i think we are seeing the markets reaction today based on those revisions and not only the good numbers that we are seeing for april. dagen: at the overall number was good, but if you break it down, many of the jobs are in food service. they call it drinking places. bartenders, perhaps. also, retail. are you satisfied with where these jobs are being added? >> this report, you know, it is really spread across the board. retail, restaurants, a lot of part-time positions are coming back. maybe people's hours are being caught and they are looking for part-time work or they cannot find full-time work so they are looking for other jobs. there is some good news out there, too. there are jobs out there in many

sectors. i am actually an advisor to monster.com. i have access to their data. the jobs across the board are in healthcare, information technology, engineering. they are in all the large markets across the u.s. there are jobs out there. dagen: it was great to see you. thank you very much. connell: jobs, jobs, jobs today. this is another story that is quite remarkable. $3 billion was paid out in fraudulent unemployment claims in the year 2011. kate rogers with us now from the newsroom. it looks like another case of a big government program that does not have strong oversight. we have all of these fraudulent claims. >> absolutely. the government is apparently not following up on tips that they

are getting from disgruntled ex- spouses, ex- boyfriends and girlfriends who are going to the government and going to these former employers, letting them know that they are being scammed. it is not being followed up on. connell: remarkable stories. you should go to kate's story. what has been done to stop it? >> the labor department declined to comment for my story. what they did tell me via their website is they spent $170 billion last year to 30 different states to try to bolster their unemployment insurance meaning they have more people on the job investigating this. that remains to be seen whether or not the money will be put to good use. connell: thank you. >> thank you for having me. dagen: taking it rained with charles payne. up next, he will talk construction.

connell: we will head out to omaha. liz claman is there. before we get to that, though, the dow 15,000 everything else, oil is also up by just about 2%. we will be right back. ♪ i'm telling you right now, the girl back at home

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♪ connell: that is right, making money with charles payne. i think that dagen renamed the statement making it rain with charles payne. charles: i like that. connell: you will make that a

little bit bigger. what size of a head do you have? charles: do not even ask. [ laughter ] charles: let's put it this way, i don't buy turtlenecks anymore. can you see me in a turtleneck? [ laughter ] charles: let's take a look at the floor. my favorite company, to be honest, it is all about america and china. they just reported their numbers. industrials got hit a little bit. they are working on things like the tappan zee bridge. power is looking really well. what i look at is the global economy that may be really turning a corner big-time. especially the oil and gas side. you know how much shall gas is in china? obviously, they will go after

that. so much money for american companies. it will be amazing. this is a name that has always been a really good stock except for the past couple months or so. dagen: it has been volatile, hasn't it? charles: i think if you hold this for a couple of years, you will be really happy. people have been so cautious that they have missed a thousand points. there are still good companies out there that are not expensive. find them, all men. forget about the market, old good companies. connell: okay. thanks charles.

charles payne. you have a big head. charles: no turtlenecks for me. connell: moving right along. dagen: nicole petallides. nicole: a market that is looking great here on wall street. 170 points to the upside. a record-setting day. take a look also. linkedin just popped up. we are seeing shares falling today. revenue numbers did this. they have higher membership. that is some good news. the revenue guidance really is not good. it is good numbers, however, it is below that analyst estimates. they are down 10% today. year to date, lean in was up about 76%. pulling back about 10% today.

dagen: thank you. connell: we have liz claman coming up. she has already spoke with warren buffett. dagen: the protests we have seen in europe over the last couple of years, most of it alluded by young adults who are not finding work. little improvement for young adults. take a look at how the world currencies are holding up against the dollar today. ♪ [ indistinct shouting ]

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♪ >> 21 minutes past the hour. i have your fox news minute. in california, the fast-moving wildfire is headed from ventura county towards malibu. more than 925 firefighters are fighting the blaze. 4000 homes are threatened and hundreds have been evacuated.

the bangladesh death toll is now 501 people with 149 still missing in the collapse of a building. the finance minister is calling it an accident and "not really serious." he says it will not really harm the countries garment industry. no female jockey has won the kentucky derby. one will try tomorrow for the second time. two years ago she guided pants on fire to a ninth place finish. those are your headlines. back to dagen and connell. dagen: thank you. connell: 1000 people headed out to omaha for the work shy or annual shareholder meeting. 162.

almost 163,000. dagen: liz claman has already spoken with mr. buffett. liz: [ laughter ] we are live here in omaha. just yesterday, there was snow on the ground. those stores are where they will slam all the way through. yes, it has been an unbelievable day here. noancellations. people still appear to be coming. there is no more snow, at least for the moment. i had an opportunity to catch up with warren buffett last night. i asked him a bunch of questions. most importantly, i asked him to talk about what he knows most

shareholders truly want to know about. >> everybody wants to know about a succession plan. after beating prostate cancer, people would like to know what the plan really is? are you going to reveal any more details? >> no. [ laughter ] >> we have investments totaling a lot of money. ibm, coca-cola, wells fargo. i do not know who will succeed the president ceos there. they have changed ceos since we started buying the stock. i never knew who they were going to be. there is no one more can learn about the sequester van i am. we spend more time at the board meeting talking about that. if something happened to me

tonight, if i pick up 14 states in my heart goes out, the board tomorrow will have somebody. i use the pronoun he, he will be very good. maybe ten years from now it will be a she. i hope it is. liz: there you go. people do very much care. they want to know the name. there is one of our crew members holding the door there. this is where fox business is set up all day long. we have taken over the lobby. this is truly where all of the shareholders, and. it is so funny. you just stand in the hallway and see all kinds of people. as you can see, we are set up.

wait until you see that gas that we have live all day long today. a fox business exclusive with the man who takes buffett called morning noon and night. we have the kids. peter, susie and howard. his three grown children. we have some very special questions to ask them today about their dad. this is a fox business exclusive. they are buying hundreds of brand-new jets and we got a sneak peek yesterday. we will show you the jet they are so excited about rolling out. then we have the nebraska governor. yes, we will ask him about the keystone plans. the heinz chairman and ceo. warren buffett just bought heinz. bill johnson. we will talk to him more.

he is only talking to us and you. we will see you all day long right here in omaha for the shareholder meetings. connell: we look forward to it. thank you very much. dagen: you better fix those objects. for our sake. if they aren't, there will be a problem. moving along. a major issue. still not recovering in the way it should. juan williams is here to talk about it. connell: he is coming up, rihanna is not. the nets went and ruined it on her. we will have that story for you ahead. some of the winners today, not hard to find. here are some of the individual stocks doing well.

we will be right back. ♪

♪ dagen: stocks now, nicole, what are you watching? back below 15,000. >> all right, well, we're taking a look at aig, obviously, a name that used to grab headlines day in and out. 5.5%, 4444 even, property, casualty, and business, of course, we know that, booking the first underwriting profit in two and a half years, quarterly numbers, they did top the analysts' estimates with the earnings per share, so we are seeing aig as a real winner. the insurer wrote more premiums at higher prices, and reported

lower losses, and so that's actually great nudes for -- news for aig, and year to date, up 25%. back to you. connell: nicole, thank you very much. unemployment rate down to 7.5% in april, one of the big headlines today, but digging deeper, youth unemployment much higher with over 24% of 16-19-year-olds and 13% of 20-24-year-olds still strucking to find a job. the numbers, some say, are significant because youth unemployment and the problems associated with it led to massive uprisings already in europe and the middle east and as juan williams joining us now, fox news out of washington, to talk more about all of this. is it something, don't burst the bubble on an otherwise bright day for the economies and markets, juan, but something to be worried about here? the number of young people out of work? >> got to. let me explain to you, connell, what we see in europe right now in terms of social unrest is

largely rooted in the high unemployment rate among young people. it has a depressive effect, a destabilizing effect on the political structures, and especially in a time when, you know, folks talk about austerity as a necessary step to try to get hot budget deficits in line. the other thing to say is, you know, this is a happy season of garaguation. you got 2 million more young people about to get out of school and come into the job market in the next month or so. the question is what kind of meaningful work can the folks expect, and if the last years are indication, it's just not there. you got a backlog of people looking for meaningful work in addition to the people who are getting out of school this month. connell: older people staying in the work force because they have to or may want to, and there's fewer jobs available. is there a political solution, in your view, to this problem here in the united states? >> well, the political solution would be added spending. i don't think that's going to --

connell: no. >> that's not going to play with the congress right now, so that would be that you target some kind of job creation effort as young people, and in specific, let me just add, minority young people. you see among african-americans, it's 18-29 have 20% unemployment rate. hispanics 12%. you have to target it in a specific way, and i just don't think there's the political will among older americansed to do it, but, again, given the political instability we've seen, the eruptions in europe, the question is at what point does that erupt here in the united states? does it erupt? does the kind of economic recession that is almost a depression for young people become a political problem here? connell: answer that question. you posed it, but i would say probably not. aren't we different culturally than the countries who have problems with that type of political up rest? >> well, we're a conservative

country and much more politically stable than those countries, but the fact is, look, you know, you can't -- i mean, this is part of the equation when we think about what's going on in the middle east as well as in europe. you can't just sit op young people, but especially, connell, young men, and say, hey, you don't have a future or you're going to have to wait because of the economic circumstances of the moment. young people don't think about winning. they are impatient. they want their share of the pie now, and when you are saying that to them, you are opening doors, not only to political unrest such as of such as we're seeing, but you open the doors then to black market, off market type of economic activity that, again, is not good for the society that then leads to more criminal activity. this is -- this is a prescription as aristotle said poverty is the precursor to revolution. connell: juan, great, reaching in a little aristotle, little of

everything. >> i was a philosophy major, what do you do? connell: and you have many jobs, how about that? >> really. i think my mother said what kind of jobs do they give philosophy majors. connell: here you are, doing a good job of it whatever you are doing. dagen: i majored in art history. connell: i majored in communication. dagen: my dad said, honey, i don't know anybody who can get you a job, good luck. >> look at you now, baby, look at you, hey, dad, check out dagen. connell: have a good weekend, everything else. dagen: i could have sold feed, you know -- connell: feed? dagen: yeah, feed. connell: stuck in the weeds with the feed. dagen: trouble for jimy dimon targeting a top executive at the bank. connell: adam, what's the latest? >> this involves the chief of commodities at the bank blithe masters, but i want to assure you fox business reachedded out and spoken to the occ, the

office of the comptroller of the currency as well as the federal rereceiver bank of new york. they will not discuss any of the pat matter os record or issue statements as to the dealings with jpmorgan chase, but video at the center of this are the reports in the new york times as well as dow jones news wire that the occ and fed met with managers of the bank and said, essentially, they don't trust management at jp jr. mongan trace with the regulatory commission's wells notice saying managers at the bank including the chief the commodities, blithe masters, misrepresented prices of electricity contracts in california and michigan resulting in over payments, and that other traders with mismasters made false representation under oath. we got a statement at fox business from j pmorgan chase regarding that issue. the bank say, quote, we strongly dispute that blithe masters or any employee lied or acted

inappropriately in this matter. we intend to vigorously defend the firm and the employees in this matter, but this matter is just one of many. i'm holding right now, i'll hold it up, just one consent order issued in the last month, month and a half against jpmorgan chase from the occ, the one that alleges the bank, and it's not an allegement, the bank agreed to fix it, the occ identified deficiencies in the bank's overall programs for secrecy act and money laundering compliance and reported the findings resulting from the examinations. the bank issued a statement through jamie dimon in the letter to shareholders about this issue and several others telling them in april, "we received regulatory orders requires improved performance in multiple areas including morning forecasts, anti-money laundering procedures, and we expect to have more of these in coming months." jpmorgan chase expecting more concept orders and more

troublings as occ and federal reserve bank of new york stir the pot. connell: thanks, adam. dagen: the nets rihanna connection or disconnect, why the team's win equals a loss for the pop car. connell: cold, wet weather reeking havoc on the corn crops; right, jeff flock? >> what a difference a year makes. this year, the corn was in, it was warm, and now look, you can't run a planter through this. we will talk exclusively with the farmer bush administration grit department official about the risks to midwest farmers and we'll tell you what the corn prices are doing. wait until you see this. ♪ this is america.

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you are gonna need a wingma 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. >> this is your fox business brief, stronger than expected business report sparks a record breaking day on wall street. the dow hitting a new high crossing the 15,000 mark and s&p 500 above the 1600 level. the pentagon using samsung smart phone devices for the network. the smart phone is the first android device to meet security requirements of the u.s. government. get your came opc book fans, because tomorrow is free comic book day. some 2,000 stores worldwide giving away comic books featuring everyone from superman to buck rogers to the zombies of

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the risk management authority. >> that's correct, risk management agency. >> agency. this is his crop, take a look, boy, mud everywhere. this time last year, how much was in the ground? >> i think last year at this time we were done planting or nearly done planting. >> now, across the state, maybe 3%? >> that's what i've heard. you know, very single digits for sure, maybe 4%, 5%, which is very, very low for this time of year compared to average. >> for our viewers who trade this, look at the front month corn, the may corn. this is driven prices back up to almost $7 a bushel. >> yes, i think that's right. the market was hoping to get new crop in, planted, have some early corn to harvest and take pressure off the reduced old crop supplies. >> here's a buying opportunity. look at the may compared now to the december, which would be the contract that reflects the current crop going into the ground that's not gone into the ground. >> correct. that's why everyone is concern

that in new crop corn is the harvest is going to be pushed back now, simply because it's not planted. >> so that could see more appreciation in that contract. you were going to buy, a betting man right now, you bet on that december contract, and that's my recommendation. >> okay, that's good. i'm glad there's -- >> you like that? >> i like that. at the same time, i also think that, you know, the weather market can change in a hurry and go the other way. >> we can talk about the farm bill later too because there's a real stake in that, and we like to talk to a farmer who's gone to washington and had sense enough to go back to the farm. maybe congress should take a page from that book. connell: might be a good idea. this story is kind of funny when you think about it. the brooklyn nets in the playoffs beat the chicago bulls 95-92 so they'll come back to brooklyn and play that game seven at the arena, the barclays

center, good news for the fans, of course, but not so much for rihanna fans. the singer was forced to move the concert at the venue from saturday to tuesday and to apologize, the nets have actually invited her to the game, but i mean, the fumingny part is the fact that, oh, let's make a concert, what's the odds nets will have a game, and they do. dagen: they do. less follow-up going out on a tuesday night than a saturday night. tell you that now. tell you what. stocks now. joining us is keith bliss, tone and company, keiths the dow gave up some of the moe joe, that juice, now well below 15,000 mark. why is that? >> well, we're going to go back and forth across the line today, probably a couple more times. it's not unusual. we, you know, we get the strong rally based on the goldilocks job numbers today, not too high, not too low, but just right to keep people in the market and thinking the fed is going to keep juicing the market with

more money, but not so far below expectations that people think the economy's in real trouble. trading back and forth at the 15,000 level, a couple more times today. dagen: what's more important to continuing the rayly? certainty that the federal reserve keeps its policy in place, which is what we heard this past week, or a better job market than we are seeing right now? >> i think for right now, certainty that the fed will keep the policy number, it's the goldilocks number, 165,000, and no matter what you parse under the number, blow headlines, there's good and bad things in it, but we trade off with the headline number, and, quite frankly, 165,000 while it's good for today, it's not great for long lasting economic growth. the fed has a target unemployment rate of 6.5%, and jobs averaging 169,000, taking 25-26 moments with that growth to get down to 6.5%, a full two years.

we have a tough slog in the economy, but for now, trading higher, might as well get on board. dagen: thanks for that, have a great weekend. >> thanks. connell: the dow's crossed the 15,000 mark now 16 times already today in two-plus hours, so get your over-under bets in, bag and forth hovering around it, below now, but a good day for stocks. cyberthreat, talking to trend micros, vp of cybersecurity about a new region of interest here in a moment. dagen: look at today's winners on the nasdaq. ♪ we gave people a sticker and had them show us. we learned a lot of us have known someone

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connell: emerging cyberthreat from trend micro and organization of american states labeling latin america and the crickian -- caribbean as the new threat region suggesting from 2011-12 cybercrime in the region spiked up to 40%. trend micro vice president joins us now from dc. is there something unique in the region compared to other areas in the world looking at the cyber threat? >> well, there's a lot of interdependencies between the u.s. and that region as a whole, but the revolution of criminality and region as a whole, we respected the nare koa traffickers and sipped cats in the region, and now there's the

migration of the criminal syndicates to the internet. the problem here 1 the fact that it's difficult to prosecute the individuals, and they develop these asmet try call capabilities giving them power to go beyond the regimes. connell: talking about the threat here in the united states, what comes up over and over is china, and the role that the chinese, whether it's the chinese government or individuals in china playing this -- in this. you talk about caribbean, latin america, the chinese invest in that area. what's the relationship of china in terms of cybersecurity with this region that we're talking about now? >> actually, i think that the chinese industry's in the region themselves are dealing with the manifestation of cyber crime and cyber attacks as well, and mostly the financial sector, energy sector, and anyone doing businesses with the governments in the regime are being targeted by sophisticated attacks not focused oven denying service to you, but really penetrating your system and stealing sense tifer assets and data. >> what do we take from it, we

as americans in terms of how we think about traveling or how we think about doing business, interacting, or how we think about our own threat here? what's the ramifications for us? >> the ramifications for us are two-fold, one of which is investing in latin america, operations, we have to beef up the cyber security posture there now. at the same time, the traditional organized crime gapings and syndicates that are manifest manifestations in the u.s., respect the fact they use cyber capabilities for money laundering and counterintelligence against law enforcement. what's unique in the this unique seminal study is we have to respect the evolution of traditional crime into cyberspace at this point. connell: right. that is an evolution we've seen in other parts of the world as well, and so there's the critical infrastructure and everything else on the rise, by there's something seen in other parts of the world as well. one of the general questions i asked, a number of segments on the topic is how are we doing? ahead of it or really need to

ramp up the efforts to combat this thing? what would you say? how are we doing? >> a point of inflection, major corporations and significant executives watching the program should recognize they cannot rely upon law enforcement domestically or internationally to save them from the phenomena. you really need to view security as a functionality of doing business, both domestically and internationally in the world and stop focusing on denial of service and disruption of service. begin to really represent and understand the cognizance the digital add adversary would be n the networks and how do you eradicate them from the systems? connell: tom, trend micro, thank you. >> thank you. dagen: bull run, baby. live report from the new york stock exchange and cme and an analyst says don't get excitedded about the job numbers. connell: sympathy for the devil, but cheryl and dennis say why californians have no sympathy for the rolling stones charging

$600 for a concert ticket these old guys? dagen: they are old. you are paying to see grandpa and grandpa and grand pa and grandpa. ♪ came 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 ] ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪

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find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. dennis: we have a rally, davey. i am dennis kneale. cheryl: hello, everyone. i am cheryl casone. we have live reports coming up from that nyse and the cme. one analyst that says the jobs report is good, but it is not great. dennis: the box office takes may be too small. we may have a way to make money on it in my media minute.

cheryl: you cannot always get what you want. the rolling stones forced to cut ticket prices. we will have details coming up in the west coast minute. dennis: unemployment rate dipping to 7.5%. the lowest in five years. we have team coverage. nicole petallides and phil flynn. nicole. nicole: let's take a look at what we are seeing here with the market major averages. the dow 15,000. you can see it right now. it has pulled back. we did cross the 15,000 mark. we traded as high as 15,009. the s&p also touched and rope through records. we watched that.

new highs there. the nasdaq composite hitting levels. the employment report with some good news. the catalyst for the day. we are at the date of the earnings season. at&t, visor and jpmorgan are the exception. caterpillar, 3m and hewlett-packard helping to cape the bull market going today. phil flynn, what is going on there in chicago. >> look at this. we are seeing a huge move. this is the type of move that back in the old days, we would have had a limit.

what is going on here? get me into some of that stock market rally right now. we are also seeing the stock report. everyone was talking about people not wanting to commit to the stock market rally. are they going to be accommodative? look at europe right now. they are falling. here in the u.s., going the other way right now. this jobs number, major impact. back to you. cheryl: phil flynn, thank you very much. of course, thank you, nicole. let's talk more about the dow 15k. you are not impressed. the jobs report.

>> it sure was nice to see the dow making new highs. the employment number was around where the trendline has been. around 150,000 jobs every month. if you look at the month before, we had a big revision. ultimately, unless you have a big mess, it is another number. it is a good number. it is nice to see it. it is right along that trend line. cheryl: a lot of these jobs are retail jobs. those are lower paid jobs. >> i would not make too much out of the stock market move. back in september, we saw a situation where fundamentals are starting to get better. we are looking at record highs

here. i would not make too much out of one days move in the stock market. last month was very bad. there were some traders who came into the session who said, boy, if last month was bad, wonder what this will be. cheryl: extra candy on top of the cake. >> they revised them up. we got some information out of the ecb yesterday. cheryl: earnings for corporations have been decent. we have had some revenue misses. not bad, just kind of flat. with a jobs number like this and you look at some of those lower paying jobs, that means that companies are paying their workers less and getting more productivity out of them.

that is good for the shareholder. that is good for the company. >> you have a large pool of workers coming in. lots of college workers. they are looking for jobs. it puts the employer in a very advocated position. cheryl: let's talk about the fed. what do you think the fed is saying today? they're inflation targets are kind of in range. >> the fed is in a position to continue to ease. i know some were expecting them to look for the exits this week. that is not the case at all. secondly, when you look at where employment is, seven .5% unemployment rate.

you are still far away. they are missing on the inflation goal. they are missing on the employment goal. that gives them all the ammunition. the japanese and europeans are easing. cheryl: kind of a side note, if you look at what phil flynn is talking about, he is talking about the fact that bonds are getting hit, but mortgage rates aren't hitting new lows. it has been housing, it has been builders, whether it is your home depot or your lows, do you think that is kind of a net positive for that group, if you will? >> yes. the group has been supported by all of these efforts to push down rates. we talk about fannie and freddie, for example. when you look at the mortgage

complex, it's low rates, availability, credit, all of that is natural goods in the short run, you still have a long way to go before you clear all of them. cheryl: biggest question that we keep getting, do you sell in may and go away? do you think it will happen this year? maybe not so for the first time in four years. >> i think what you do is you look at a portfolio. let's say you have big appreciation in a stock. you may want to reconsider that investment. there are other companies that have pulled back during this earnings season. ultimately, what you need to be focusing on his consistency of the profitability and a valuation. if you can find new ones, though by then. cheryl: it is so nice to see dow 15k, though. thank you very much.

>> thank you for having me. dennis: let's continue the jobs talk. the economy is recovering, but wages, not so much. jeffrey, overall, what is your take on the numbers today? >> hello, dennis. i think context matters. the context was everybody was looking for this spring swoon. this slowdown for the economy. they pointed to last month number which was initially plus 88,000. that has been revised away and we have a number that is right in line with the average. i think you see that reflected in bonds and equities this morning. dennis: maybe a goldilocks economy, not too hot, not too

cool. >> i do not think this changes anything. all this does is pull people back a little bit. that is why i think on prizes were bid up over the course of the week. by no means, dennis, is this an acceleration in job growth or acceleration in gdp growth. dennis: insulation, in the first quarter, was up. >> it is not a bother. we are always on guard. we want to be vigilant about

that. i am not seeing it in this report. you are seeing soft wage growth. inflation is very low at this point on our list of worries. that is another reminder this morning. dennis: the dow popped up so much on what is really, if you get right down to it, don't we need 15,000 to get the rate down in a big way. >> 200,000 or more. flip down a few pages in that deal. it is right where we were a year ago. that is just telling you, the pace of job growth, even if it is at 170,000 per month, it is just enough to keep up with population growth.

about 200,000, maybe 250,000 where you really get momentum in that economy. and really get what i would call robust employment growth. we are not there. we are not there yet. it means we are recovering. but for bonds, it means the fed is probably going to keep their foot on the gas throughout the course of 2013. they will not taper. they will continue with qe. the fed has two settings of monetary policy. things are getting better. qe works so let's continue. dennis: the definition of insanity. keep doing the same thing and hope for a different result. cheryl: you cannot help but feel sorry for midwestern farmers after last year's drought and now there is too much rain.

jeff flock is coming up next. there is way you can profit on it. we are playing both sides of the story today. dennis: wild horses. rolling stones fans. how much they have been forced to cut ticket prices. ♪

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there are the names that are making up the dow 30 right now. there are some names in the red. one of them, we should point out, jpmorgan chase. pfizer, at&t and merck. they are the weakness. thanks to that jobs report, a strong day for the jobs report. quarter after. nicole petallides. nicole: one of those days where we are seeing plenty of of arrows. whether it is at record highs or intraday highs. here is a look at the dow leaders right now. as we noted, this is a broad space rally. you are seeing industrials. you are seeing technology, also battles and the like. we are looking at caterpillar leading the way. up 3.3%. alcoa of over 2%.

3m up about 2%. united technologies and hewlett-packard round out the bottom five. as i noted, we are seeing gains in the banking index, drug index, tech index, all without arrows. cheryl: thank you very much. dennis: it is time to make some money with charles payne. he has a beloved friend of my late grandparents. winnebago. charles: it is tough. this one you are not chasing. this stock has not participated in a rally. the first half of the year, revenues were up 40%. it is nowhere near the 52 week

high. it is looking pretty good today. look at the chart. you have a lot of room on the upside. we are taking market share. as people feel more comfortable with discretionary spending, they will probably do very well. wall street earnings estimates have been moving up. they have been inching up. that is always a telltale sign. if they think you will make $1.20, you will really make $1.30. they do not want to look stupid. dennis: that outlook would be good for winnebago. charles: yes. more confidence in the market. job security. a whole lot of positive macro factors. even today's weather.

the people who buy these things, the grandparents of the world. they have money. the richest segment of the population. they are living longer. they are more adventurous than ever. i am just shocked this stock is that cheap. i think it is great. dennis: such a throw back. i went on trips with my grandparents many years ago. i guess it is coming back. charles: they are remarkable. it is like having a new house. dennis: and menu open a beer. [ laughter ] dennis: thank you, charles. first, it was drought and now it is too much rain.

jeff flock is in corn country. jeff: this time last year, 75% of the nations corn crop was in the ground. this year, about three or 4%. we will give you a handle on what that is doing for markets. ♪ ♪ [ cows moo ] [ sizzling ]

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♪ >> at 24 minutes past the hour, i have your fox news minute. president obama sees a new mexico of merging. he said it is time to recognize "the progress in today's mexico. he cited the growing economy. he also said the root of much of mexico's violence is a u.s. demand for illegal drugs. the fast moving wildfire in

california is heading from ventura county towards malibu. or the 925 firefighters are fighting that lace. 4000 homes are threatened and others have been evacuated. since the first kentucky derby, no female jockey has ever won. this 25-year-old woman will try for the second time tomorrow. two years ago she guided him on fire to ninth place. those are your headlines back to you. dennis: thank you. jeff flock is in maple park, illinois. mother nature cannot get it right.

>> look at the blood. we are covered in water. if we put that one-year chart of corn up, it looks like a roller coaster ride. >> very much so. a dramatic change. from high to low and back again. jeff: of course, the traders love this thing. i want to put the soybean chart up also. you cannot plant corn early enough. >> at some point in time, it is no longer economical or too much risk to plant corn. the next backup crop would be soybeans. jeff: i just want to show you one thing before we get away.

this is now back up. if you look at the price difference between that and december contract, it reflects the crop going into the ground. >> this may be an opportunity to take an advantage of that. jeff: only 4% planted across the corn belt so far. last year, 75%. dennis: thank you very much, jeff flock. cheryl: back to today's jobs report on the market rally. twelve minutes they not seem like a lot.

michelle gerrard will tell melissa and laureate wide that april jobs report on the average workweek has been a concern. that is coming up. dennis: markets are sorted. cheryl: liz claman has made her trip to omaha. the man who has made brookshire's real estate empire. the s&p hitting a new intraday high. there are some of the names benefiting, or at least causing it. ♪ 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. ♪

cheryl: crossing 15,000, in a dow record highest unemployment beats expectations. republicans say we can do better. hollywood spending big bucks on big summer blockbusters, but the fears some films will fall flat at the box office. details ahead in the media minute. and i can't get no satisfaction. coming up, why the rolling stones had to cut concert ticket prices. nicole petallides standing by the florida new york stock exchange watching the dow. nicole: i really am. there was excitement on the floor of the new york stock exchange, the reading of the time the dow crossed through the 15,000 mark. waiting for it for over a month. the floor got very loud for that brief moment. a monumental day in history for the bulls crossing through the 15,000 mark. a majority of the dow components higher today, a jobs report

better-than-expected, the two prior months higher. and overall, we are certainly getting the feel of up arrows on wall street. some names on the move, wanted to look at some names that are real winners, blackberry and tesla. jcpenney, as i am standing here i cannot deny, krispy kreme doughnuts a nice winter up 1 and a half points. i think i would like krispy kreme. cheryl: one of my favorite ipos. nicole, thank you very much. the unemployment rate fell to 7.5% in the month of april, at 165,000 jobs. rich edson standing by in washington with the latest on the political reaction to all of this. >> still short of what economists say, we'll april numbers are decent, the bureau

of labor statistics say the economy added 332,000 jobs in february, 64,000 more than first forecast, the highest monthly total without counting census numbers since 2005. at the white house, cautioned not to overemphasize one report officials say the economy continues to rebound. speak of the general pattern we see as one of resilience thinks resilience of american families, american workers, american businesses we are continuing to dig out of the deep problems created by the recession that began back in 2007. spiegelman while house speaker john boehner in a statement says there is good news in today's report, but the president policy still are not providing a robust economic growth and job creation the american people desperately need. he says those policies include balance the budget, overhauling

entitlements and the tax cut in repealing the president's health care law. the white house wants higher taxes on wealthier americans, a different set of cuts and more spending on infrastructure projects among other things. back to you. cheryl: rich edson in washington watching those things. dennis: forget obamacare. our next guest says our country has a lot to learn from singapore. and could even save us maybe $2 trillion per year of the 3 trillion we spend. joining us is william heseltine, thank you for being with us. of course you have this new book out to have just written called "portable excellence." i have been to singapore. one of the most controlling governments, yet they can offer us a model for cutting health care costs, how is that? >> they are a capitalist country in a democracy like us. second of all, they have thought

deeply and long about providing health care for affordability and going forward. there are a few simple lessons. if applied here to save us maybe $2 trillion because they get better results in less then one quarter of the price. dennis: give us three main things we ought to be doing. >> we ought to have serious copayment. a little bit painful to go to the doctor. not that you impossible for poor people, there has to be a structured way so that you can have a great copayment, but copayment is important not only for ordinary business fo but serious surgeris as well. dennis: asking us as individuals to pay more would make us more conscious to spend less. >> the second one is price transparency. we know the prices you pay when you go to the hospital are totally nontransparent. you can negotiate. the individual who goes to the

doctor doesn't know how much he is paying insurance companies don't even know how much doctors and hospitals are charging. a third is not paying for services. it is basically bundling, you have lung cancer, this is what the average patient should be charged in this area of the country. dennis: you founded human genome science. one of the early firms to map the genome, another heavy hitter. his private enterprise would taste make health care more affordable and better in this country or its government involvement would it take? >> it is unleashing the government power and efficiencies. we have the most competitive business, culture in the world. if we need to, we can compete, we can compete with anybody.

think detroit. detroit offered not the greatest products. we needed to compete, we reorganize. we have to do that with our health care system. dennis: we thought were already fiercely competitive, what happened, what is it? >> he doesn't know what he is paying for and he doesn't pay for it. when you're buying a car coming now you're paying for it. when you're buying health care, don't know what you're paying. because in the end, the u.s. can't afford it. paying almost 80% of our gdp. dennis: we are going to have to wrap, but three points in the note our producer put together that make it hard because singapore has what we don't have, political unity, and ability to establish priorities and shares a desire for well-being. i'm not sure we have political unity.

thank you so much for being with us, william hasetine. >> thank you. cheryl: well, another headache for jamie dimon. jpmorgan is now strongly denying reports that ran a manipulative scheme that turned money power plants into cash cows. that is coming up. dennis: even if they did, want to say hooray for them. sympathy for the devil, but we californians have no sympathy for the rolling stones.

>> this is your fox business brief. jamie dimon cannot face the spotlight, jpmorgan chase utley tonight it ra remedied with a scheme that turned money pit power plants into cash cows. "new york times" reported the missing are found jpmorgan chase and intuitive trading in the california and michigan electricity market. factory orders fell in march by the largest amount in seven months. even with last month's decline, total orders or 3% above the recession low in march of 2009. and domino's pizza letting customers inside the kitchen.

dominoes live.com allows these fission are those view the process online. it has gone digital at one location so far in salt lake city. begin broadcasting until may 26. that is the latest from the fox business network giving you the power to prosper. [ man ] on december 17, 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 sa on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪

cheryl: all right, we're in uncharted territory, the dow roaring past 15,000 on a solid april jobs report but i want to show you one sector because you think about it, a lot of analysts have maintained a job recovery depends on housing and here are your homebuilders right now. a couple of names in the red right now. overall another positive day for these builders. the key for all of these names is sales. our sales going to go through for these names. the man who knows this, runs a company that sent 32 billion in

residential real estate sales in the toughest time, 2011, his boss happens to be warren buffett. liz claman is live in omaha with him right now. liz: how interesting to have warren buffett as your guy above you because when times are tough, he doesn't care, he wants to see growth in the company in the next guest pulled it off in the toughest of times for decades in the housing industry. he is ron peltier, ceo of home services of america. we just gave a stat you have facilitated some 32 billion in residential real estate sales, that is a stunning number. but that was 2011. how did 2012 go? >> much better. 2012 were at 40 billion the way things are going, we may hit 50 billion in 2013. liz: that is news, that maybe breaking news because the first

on fox business and you're saying you may hit 50 billion, that is how good the housing market is right now? >> absolutely. the housing market after six years of a tailspin finally hitting on all cylinders and i think we're in for a long-term recovery. cheryl: we just got an unemployment rate that takes down very slightly. 7.5%. everybody says the job market coming back yet we haven't seen the jobs numbers come back. are you hiring? tell me about your particular business. >> we are hiring. with the growth of new job opportunities so we are hiring. speaking to the housing industry, one of the things that is critical is new construction has really been dead in the water. at the peak we were building about the industry building 2 million new homes per year. that pace went down to about

300,000, we are tracking in total just under a million, a long way to go, a million and a half new homes per year to keep up with demand. liz: i'm glad you're bringing up inventory because all of a sudden you have investors jumping in and saying i want to buy in bulk. blackstone has invested heavily. who is really driving this recovery? there's a belief it could be the private equity guys buying up homes and started to flip them. do you see any danger in that at all? speak of the private equity buyers are buying in bulk, but the truth is we have incredible demand. if we put things in perspective, in 2000 there were 5 million existing home sales annually, bubbles up to 7.2 million existing home sales. not new construction from existing home sales. we dropped down a 2011 at the bottom.

it ended last year 4.7 million existing home sales. bottom line is while things are booming, we're a long way from normal. normal market is about 6.5 million existing home sales right now. so the inventory is being stocked up by demand. liz: so it is a sellers market. >> has moved 180 degrees to a total sellers market. cheryl: ron peltier is saying that right now. and it's not avoid the fed and their role giving us low interest rates so how can you not refinance and how can you not buy a home? at what point when they eventually tighten the race, because it has to come eventually, are you concerned this may derail the entire thing? or give it a little hiccup? >> clearly we get used to what we have been fed. low interest rates, we have had low interest rates for three,

four, five years. the interest rate on a 30-year fixed mortgage is 34.4%, that is record low. it will be very difficult to move up to five, six, seven. frankly affordability at an all-time high, but people bimonthly mortgage rates. liz: in the end you work for warren buffett. i would like to know from you what is the best insight you've ever gotten from warren buffett as a leader and realtor of your company when it comes to berkshire hathaway? >> the man is incredible in all ways. i would say the best advice is slow and steady wins the race, anand to not make a business decision for the wrong reasons. he has been quoted as saying 75% of all mergers, acquisitions don't work out. we have been making acquisitions, we are growing through mergers, acquisitions

and frankly it is always a frightful event the acquisition that we make is not going to be one that is a cultural fit. liz: it keeps you on your toes. don't get him mad. >> absolutely. liz: by the way, warren buffett does get angry. he gets angry, have heard. good to see you, thank you very much. >> thank you very much. liz: ron peltier. we are just beginning. live here all day long in a fox business exclusive we have taken over the hilton omaha, which is a shareholder central and ceo central. i'm talking about the managers here at berkshire. coming up, this is something they have never done, having a 5k race on sunday and it is being generated by this man, jim weber, the ceo of rooks fun. he took over with it about two implode. he is running the 5k race.

i will be running it, but i will be doing it for one fund in boston of course to help the boston marathon victims. that and more. you have to hear about what they're doing and how many shoes expect to sell in the hours tomorrow to shareholder meeting. back to you, cheryl. cheryl: i'm glad you're training. we will see you soon, next hour. liz claman out in omaha. time for your "west coast minute." the rolling stones are having trouble selling tickets to the upcoming los angeles show. fans are balking at prices running upwards of $600. the staples center is far from sold out and try to sell at a venue that discounted bunch of tickets on the website down to $85. tonight's show kicks off a 17 city tour celebrating 50 years in rock 'n roll. they just can't sell their tickets. a story, jan brewer has vetoed a bill that would've made gold and silver a legal tender in arizona.

she said it would have been administrative and fiscal burden on the state. taking a look at the metals, gold down today. silver and copper a little higher. europe's problems are now l.a.'s problems. a european tariffs on women's blue jeans has tripled from 12% to 38%. this is bad news for california denim makers to make three quarters of u.s. high-end jeans. the increase could mean layoffs for the mostly california-based industry. and that is your "west coast minute." dennis: hollywood planned a delusion of nine figure blockbusters this summer. will there be enough fans to go around? the math of retirement is different today. money has to last longer. i don't want to pour over pie crts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors

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dennis: hollywood is bracing for

a scary summer of two many blockbusters. all street journal counts 22 big-budget films coming up. most summers have 15. a couple big titles open same week once or twice but this summerall happened three times. checking movie sucks, disney new highs with the most of them today. news corp., our parent, also up 1%, even time warner up 1.4. ticket sales down this year. movie fans going for all the new numbers showing online subscriptions on the rise. maritimes has more online subs thathen printat5 subs.

cost of delivery for cheaper. the "wall street journal" launches its own reality show online. a video documentary series that will match business leaders with 25 firms that have viewers vote on which firm deserves the show's title. startup of the year. cheryl: we are right now five points away from the 15,000 mark, so almost we are getting there. the dow and the s&p hitting levels never seen before. wells fargo fund management director says there is a lot more room to go higher. during melissa and lori. dennis: jamie dimon cannot escape the spotlight. running a manipulative scheme that turned money pit power plants into cash cows. we'll be ahead with what could be wrong with that. this is america.

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♪ melissa: happy friday. i am melissa francis. lori: i am lori rothman. it is friday, jobs said. always a good thing. unless you have to work on saturday, of course. melissa: if you love your job, it is great. like us. lori: exactly. 155,000 jobs added in the month of april. but the market still cheering. jobs reports surprised hitting stocks to new records at 14,998. earlier went to 15,000 beyond. the broad market going past 1500 today. melissa: idf senior economist michelle gerard here to join us in minutes with the quality of jobs added and not the quantity. lori: great point. meanwhile jpmorgan under fire, government investigators accuse the