>> sometimes it's more regulations or better regulations. neil: what they did for fuel-efficient cars, for me. thank you very much. melissa frances is next. >> i am melissa frances. here is to make money today. investors who are in on the rally and records were shattered today. what do you think? my love it. a strong april jobs report left to the all-time high and the dow crossed for the first time in history that is it? the s&p 500 biggest gain from the of bull market since it began its shares are up 1900% that is making

many. congratulations to those investors. also wired e-mac opens today in the u.s. making 15. $6 billion just from last night's midnight showing and alysts say it could be the biggest opening in history global reseats have now hit $361 million for iron man iii. even when they say it's not not, it's always about money. okay. >> the markets are blasting the new records today the dow climbed above 15,000 for the first time the s&p it goes back 1600 now reaching 12.five yr i even even after expected gains in the jobs

market. when the disease to 5,000 jobs added that is more than economists were predicting. that is the big upward revision. put this into perspective what we have the former ceo of best buy in and peter and teddy weisberg of sick -- seaports securities. you are where it counts at the stock exchange. were you feeling phone calls? >> people are excited clearly is a momentous day but the strange thing is the phone is not jumping off the hook. we have the online trading product, thousands of retail customers and it is very, very strange but somehow the public does not seem to be engaged. they're interested bystanders but don't seem to be involved.

melissa: why is that? >> the public has been burned a couple of times since 2000 weave had several times the s&p has gone to great heights only to come back down but still standing on the sidelines end up missing now to that is why they should invest every month and over time you will make out welty said didn't mean well you were on the phone with your broker? wondering if prices were too high? >> yes. i was trying to find out if i should sell something. [laughter] maybe i am an example of part of the problem. melissa: no, no, no they say it takes get slaughtered. what did you attempt to get rid of? [laughter] if you look at the alternatives the market is still a great value i expect over the long haul it is the right place to be.

melissa: why did the market goes a much higher? but it was done enough to make its center get everyone back to work. >> basically is the unemployment numbers. melissa: i hate to interrupt you but we have heard this from berkshire hathaway. hold on. we welcome back. first quarter earnings are out let's go to adam shapiro >> we will give you part of it. earnings per share better than everyone expected to hundred $3 evening was estimated shares it increase by five of 5%. $2,302. we are breaking down the numbers and you'll have more coming up. melissa: teddy comedy you pay attention to berkshire hathaway? itits the all-time high

with is up 21% is this indicator of things in the economy or is he a savvy investor? >> he is a savvy investor and clearly the stock has done a spectacular but it goes back to what peter said i was on the trading floor in 1973 when it was trading at 560 and today these years later at dow 15,000. if you ask me in 1973 where i thought it would be i am sure i not would have said 15,000. but basically buy good stocks in hang on to them and don't worry about the timing of the market and just get on a program to put money to work. it works. melissa: this is what i am worried about. the market i fueledigher by the fed that is why they

like the report on one hand it is not falling off a cliff but not getting so much better the fed will step away to raise interest rates because that is what is fueling the market when it does get to six and a half want anybody run for the exit at the same time? there is a danger when the fed interest rates have been raised the bubble will burst and one is the stock market yet there is agricultural. housing values killing of % per year we know that is not plausible so there are some places are asset values have gotten too high but over the long term if you thank you could time these to outsmart van bernanke more power to you should bet on american i am putting would every you can every month with an organized program and stick with it. that is like a done over 30 years.

melissa: then why are you calling your broker today asking about taking profits? it goes against what everybody has said so far. >> i am even more bullish because the money gets that six point* 5% remember it used to be under five. so many people on the sidelines are not working so we have a lot of room to grow if i was worried from the timing standpoint we have seen a pretty big run-up in the mine broker to miss me i was crazy. melissa: he said, down. farther other people out there? that is something i hear every day is when should i get out? they get the impression it is a real because if you look at the economy, things are not going well they are better but better than an awful. there is a feeling the stock market is not for real.

somebody has silenced him. the powers that be. try again. we have a pop -- problem with his microphone that the stock market is not real it is not reflecting the economy? >> they have done a very good job with major companies that drive the market with the top tube hundred markets in companies to take advantage to improve productivity and transition into markets as better opportunity to make profits. that is why companies like ford have come back. american companies make 50 percent of their profits overseas. we make it big in cna in the stock market. that is a big factor and not to be dismissed. melissa: and the former ceo bess corporate america doing? >> i think they're

celebrating the improvement of the economy and it is harder for small businesses to compete right now people sides are beneficial. melissa: why? >> the banking industry that changes made make them harder for banks to loan to a company without a proven track record and with some of the regulation makes it tougher for small companies those of the ones that compete to threaten profits was the market goes up not just a good pitcher wrote -- pitcher for the macro economy but there are still problems we have to tackle as a country. melissa: i am sorry teddy got short change. have a great weekend. here is the money question. are you popping the champagne bottle or shrugging your shoulders? it is a mixed bag today.

like us on facebook facebook .com / melissa frances or follow me on twitter at melissa a francis. joining me now is our berkshire hathaway expert liz klay been in omaha nebraska right now with the warren buffett yearly blowout with the aid will shareholder meeting. you have talked to so many big games you have a a bunch on the slate with the weekend and monday make of these numbers? >> at first blush looking at them on my tablets looks very strong. adam shapiro already told you baby to on the etfs by mimicking and forgive me as i looked down, is the investment in derivatives gains class a shares nearly doubled one year ago. issue the expectation looking very good and we see also non insurance business

looks like the beat with the insurance investment in, just slightly better. the insurance underwriting looks better but what i find fascinating is this comes on a day, with the stock trending slightly higher is berkshire hathaway it is the all-time high at the 162,904. of so the returns have not beaten the s&p 500 if he misses again that is the fifth year in a row so shareholders are looking at that but all the people seem to be happy with the management. melissa: i bet they are happy as they go to the all-time stocks i or are they all time -- long-term investors and? >> they all subscribe to the

media what is warren buffett doing on their blackberry and their phone. i came up to one of them and said he just hit 300,000 tweets they said i already know. it at the 52 week high. i know. the all-time high i no. melissa: it is like a colt. i am sure they talk about the market as well. what is the buzz? >> that nobody wants war buffett to ever softly is doing. they'll understand the way he thinks and if they don't meaning he buys forhe long term and never panics, if they don't then they shouldn't be shareholders. he will never give a dividend. never. he will never split the stock. never. if you are the agitator to see something like that, forget it. he is not the stock to own then he is sole representative when he no

longer runs the company and we have it here fox business exclusive that his daughter said he got the mri completely clean from the prostate cancer for one year ago. he says it will be fine. melissa: the hardest working woman in television, liz kleiman. thank you so much. melissa: the hardest working person in television. not wanted. tune in tomorrow she will be life at the shareholder meetings and on monday watched the interview with the big man herself also bill gates and charlie bunk. lookit that question mark. a mystery guest? we don't know. catch them on monday i just wanted of who the mystery guest is. the u.s. redevelops the biggest bombs for the bunkered wipe -- designed to wipe out iran's nuclear

facility. our foremost expert joins us next and sure they're popping the wall street today but to regular investors miss the boat? we had to times square. more money coming up. >> i missed the rally unfortunate they. i did not get out so to speak

melissa: the pentagon making one of the most destructive weapons ever even more deadly. the 30,000 port penetrate your known as the bulker buster baum has been beefed up with new features to allow us to take out the underground nuclear facility but is this enough to scare iran to the negotiating table to keep israel at bay? joining me now is a senior naval analyst at the institute for the study of four. welcome back. this weapon and stay and is warda nuclear facility. will it work? >> thank you for having me this massive ordinance

penetrative specifically designed to take out a deep underground bunkers and the executive -- exactly what the iranians have with their facility. with mechanical sense it will we have a very good chance to destroy their nuclear program. but the iranians have shown no desire to be deterred by any actions up to this point* we have sanctions that have not changed the calculus at all. melissa: what does that mean ? we have to use it to have an impact just by virtue of having it does not? >> having it has the impact. we have had at some level of sanctions over 34 years since the iranian revolution in 1979. they have never played in a functional were decent manner with the rest of the region in. they constantly are a problem for us with state-sponsored terror and a terrorist organization in

everything they have done to destabilize the region and their nuclear program as part of this. they continue on with research and development to continue with uranium enrichment. our pursuit of this weapon or development will not deter them at all in my opinion. melissa: we spent $400 million to develop 20 of these is that will spend it that does not deter them? >> yes. when people talk about federal investment alternately spending is spending you either get something good for you don't. with the massive ordinance penetrator in no other nation has this to drop a massive bomb on the specific site with a high degree of accuracy in high a probability of a deep underground explosion. that price tag is hefty but as they buy more units that cost per unit will go down and it is a unique capability nobody else has. melissa: what does that mean to israel? >> we show them that we are ready for release have the

ability to do the one strike taken out of the iranian nuclear program. they took out the iraqi program in the syrian program in 2007 with a single strike. they don't have the ability to do that to irene and because it is further and it is underground. we do have the ability and we can tell the israelis you can wait just a little bit longer if america does all stacked we can sol the problem with one strike. melissa: is this something to threaten north korea with ? >> there is a secondary use that the north koreans have a significant amount of military production undergrounas well. this is more effective against iran and north korea but we still could use against them if the situation called for it. for anybody says the interest in what is happening in north korea i question their sanity they have never been predictable but it is they do have a unique weapons system that

nobody else has of we have to use it. melissa: you don't know if this will work as a deterrent because we don't know if all they are thinking. thank you for coming on. great insight. >> is a pleasure. melissa: jpmorgan in the cross hairs reports show it is facing an onslaught from regulators. is the future on the line? next. a historic day on wall street but everyone knows it has nothing to last forever. when will the party and? we took to the streets to find out. more money straight ahead. >> probably when the fed stops

at. melissa: j.p. morgan back of the hot seat this time facing accusations that the senior executive of allied

enduros. what does a mean for the bottom line with other big banks come under fire with a regulatory crackdown? from guggenheim securities we also have the director of financial regulation studies at the cato institute. welcome to the show. marty, "the new york times" said jpmorgan has gone from golden boy to a problem child. is that true? >> put this in context the regulators want to make sure that all the bank's management is remaining pliable to work with them. last year j.p. morgan and stepped out to be more vocal about maybe it is time to bring back the regulation and the result is over the last year u.s. seen a lot of focus making sure they got their attention again. we saw this with the announcement of the capital plan that jaime dimon said we will do whatever the

regulators want to create the relationship between the teams and the regulators. melissa: mark, is this the biggest criticism of regulators in washington in general? are they cracking down on him harder than others to make an example? >> partly. all big banks are in desperate need bet you have to ask yourself are they under more scrutiny than wells or goldman and i would say they are. there is an extra level as they have been very vocal in the past were the other banks have been fairly quiet with dodd franc and other regulations. also to keep in mind the regulators themselves take a pretty baby hit to their reputation and credibility. london wailes did not make a the s.e.c. look good so they're making their own reputation at the expense of jpmorgan. >> is regulators trying to

rebuild their own reputation by cracking down to demand things and put him in the spotlight? >> not just him but every year they make an example of. and. melissa: that is true of. it was goldman sachs now it has changed to j.p. morgan. >> also big america when they didn't get approval of the capital plan then last year we saw this third get a slap on the wrist than they had to regup a submit again. so what they're really wanting to do is maintain control to make sure the risk-management continue to get better with the issue that the bar will raise. melissa: is that part of it? there is another part to talk with a senior executive flying enduros. "the new york times" says it was a scheme that transform power plants into power centers that sounds

fantastic but there was some wrongdoing. jpmorgan put out a statement that says they strongly dispute the executive in question had acted inappropriate in this manner will vigorously defend the firm and employees in this matter. what is the evidence? this is something different. >> it is shocking and first of all, the facts in your times has a confidential document from the regulators , where do they get it? melissa: where do you think? >> the regulators. they either try to drive this in the press and said of taking it to the core. they could have a strong case it should be public but maybe we will find out if masters has gone out wrongdoing than why isn't this in a court of law and why is it in the core of public opinion first? it shows the weekend on the

part of the regulators but look at what the occ has done, to use the phrase it is a slap on the rest. as long as jpmorgan is making many investors will minimize what the regulators are saying unless there is a smoking gun that i have yet to see. melissa: we're reducing the document came from? there has been all kinds of chatter today with this isn't an agency that is known for leaking documents but where else would it come from? >> it is hard to speculate but what we look at is regulators are trying to take the volcker rule through these types of investigations and make sure the large banks which used to be participants in the market backed off and become facilitators, agents. they're not taking principal risk to make markets in getting to where it helps

customers do business. melissa: and that is of interest to sharehoers. thank you for coming on. disney pulls out of bangladesh eight after a deadly collapse. will wal-mart be pressured for their operations? the fallout could be enormous. nubbles push stocks to new milestones piles of money coming up. >> artificially low interest rates in the market. it has to go somewhere. i don't believe the real value is there.

melissa: and the factory collapsed in bangladesh left 430 people dead was a horrific tragedy also raising a serious dilemma for u.s. companies that rely on bangladesh workers and factories to make products. disney house said it is sending apparel production in bangladesh. other like wal-mart and j.c. penney or under pressure to follow suit it could help stop another accident that these factories employ almost 4 million people so clearly there is no simple solution. is there a best option for u.s. retailers? joining me now is a senior analyst at macquarie capital

also retail analyst, a figure for joining me is a tough issue because i feel a lot of companies sitting on the sidelines give this a quick thought to say we should be out and should not buy products from there and people working in terrible conditions. we see that. but if everyone pulls out that is a blow to the economy. >> first of all, disney pulls out a 2014 not just bangladesh but also other countries like ecuador and belarus so it is a good thing they take those steps now vietnam had a similar situation and is raising those wages it will cost a little bit more for product to be sold ultimately is up to the customer if we decide to want to pay more than maybe you could see a change to put pressure on the government. >> you don't know where

their products are coming from when you buy that my data lot of reading and some people try to make the argument not all of the factories are like this. it was i factories and a tall building is that traditionally what they are like? >> it is the norm that there are there are some better well built and watching human-rights violations closely so it is not an entire country but it is very prevalent. melissa: but what are the other options? one thing that companies could do could they insist on paying better wages? we but thais one option but also work with the government to make that change have been. that is how it happened in vietnam and that is well have to have been in bangladesh as well but that change is very slow coming. so they will have to do with

disney does and pull out. melissa: as a disney shareholder i bought the stock not because the want them to go out in the agent of change in the world. the duty is to make profits for their shareholders. should they just take business somewhere else? >> most of them look at it from stakeholders some are our customers some feel they have a responsibility to. the reason they went to bangladesh is because the labor cost is extremely low. making $36 per month. increase from what the wage was previously. said you could see companies returning to bangladesh so that is a rallying call.

>> as stats are staggering working in the $20 billion it is the exporter after china roughly $37 per month with 80 percent of the exports and looking at the last number if everyone pulls out is that the humanitarian thing to? cause all of a sudden. >> not every single reid general pullout -- paul out before even and disney gets out completely but with the government of backcountry suddenly things are changing because the numbers are staggering and data want to lose the business. a lot of exports going out across the world so that puts pressure on them to make things happen more quickly.

>> with the government get their act together? with a institute standards? >> everyone has to come together to solve the problem dealing with international laws that are tough to enforce many companies overseas to some extent you cannot please everyone. some of the largest companies came together recently were not even a fault but even wal-mart said let's talk about a solution. this is not our problem on of a bigger problem is. to some larger multinational companies to say we have to try better. melissa: and it is a more efficient better work force. >> when you have the inefficient supply chain

this is what happens when it is efficient you don't have these issues happening. melissa: vinc you so much. report showed many generic drugs are nearly as effective as the brand-name rivals. that is music to the pharmaceutical companies ears. and the historic record on wall street is bernanke the guy behind it? one observer thinks he knows the real reason. >> a vinc company is in the down turn figured out how to become more cost-efficient without having to bring people back. which is a g

melissa: thinking of switching over to a generic drug the fda says generic prescription drugs may not be as safe as a brand-name rivals. will this have people run straight to the arms of pfizer and merck? with me is paul cover from the center of medil progress and director. it is not really possible. with your insurance company

they force you to the generic sandy don't have the option. >> a lot of states that means a physician automatically unless they said do not substitute you go to the generic. melissa: eve they say do not substitute then you get to the pharmacy in the drug company will not approve it. are they really not as effective? i read there could be a variation of 25%. what does that mean? >> when they test the drugs they look for two things. one is that it is the same ingredient and is it available in the same way or within that range of 25%. it is like taking an aspirin if it is delivered all the ones like the entire -- into the present -- antidepressant all at once it will not help you. melissa: but on the second counted may not give the

same relief by a big martian -- margin. >> but there is the narrow therapeutic index for blood donors or anti-presence or epilepsy. there is if you don't have enough coverage you could have of leading even an end, depression, serious problems and the fda needs to look more closely where do we need to pay more attention to the generic equivalency. melissa: it has been getting a ton of was this week brand-name drugs that account for 18% but still accounts sun. 3 percent spending there is a big percentage on generic drugs because brand name, so much more, says this shake-up? >> i think what the fda has to do is get out in front and say a data attend a prescription drugs take said generic so you have to

maintain confidence to be very transparent we have addressed the problem and you don't want people to panic about the serious medical issues. melissa: but the problem is you spend money developing drugs that are very expensive under patent then it goes too generic and you lost with you invested in. >> this is something they have been saying for some products, anti-depressants products, anti-depressants, you have to be much closer to what we're doing in other countries say yes it has to be much closer and these kinds of indications in this pacificorp might be critical for the right dose over a long period of time. melissa: and i always feel vindicated. and thank you for coming.

gse releases this the negative camera video of the reese witherspoon the rest will this tarnished her career as hollywood good girl? even the british feel the good vibes in the economy today and is in the english man knows you cannot have too much money. >> there is a general upturn with borrowing

melissa: it is time for friday's fine with spare change. thank you to both of you for joining us. we cannot do anything but start with three saw witherspoon recently arrested for disorderly conduct. bless her heart. her husband was also arrested and of course, , of course, dmz now has their hands on the negative camera video. take a listen. >>. >> what did i just tell you to do? >> you are under arrest in iraq and i am a u.s. citizen and ask any question i want to ask. you better not arrest me. are you kidding me? i american citizen the. i am now being arrested?

in the space name? you don't need to know my name? you are about to find out who i am. melissa: that is really embarrassing it is a show about money. does this hurt her career? i think it helps her because i think she was the perfect girl before now who hasn't made an idiot out of themselves? she apologized, she is human >> i think it does make her human. item of that will help her career but the nice thing is it is on video, we see it for what is. melissa: it is so embarrassing. >> knowledge she got off by a vote powered lawyers she admitted wrongdoing and she will move on. that is the nice thing because if they didn't exist you wonder what position she might have taken. and a good officer handle the difficult situation.

melissa: he was very restrained steve a fishy get a law degree from princeton in her movie? [laughter] >> i played a lawyer. maybe to pitch a new movie but she took responsibility. she apologized and i think she handled it well. it will not affect her career but the answer in the limelight for five seconds. melissa: think people thought it would hurt her because imf a role model and girls watch me and then again who hasn't done that? >> remember when they announce they would water down the berlin now it turns out after the announcement sales went up 44% of course, because die-hard fans had to stock up on the real stuff. this is ingenious marketing.

>> that would be a risky ve because it that it did not have that the fact there would change the brand and potentially not making it as good the end result. melissa: 44%? that is amazing. >> it would be obeyed risk of their goal was to a sales by saying we will stop making the great product. melissa: did you stockpile? >> we and reese witherspoon. [laughter] the production of wheat but think about that i think there is a country-western song that they lower the proof to go out and buy it quick. maybe it was a great marketing ploy. melissa: one fast-food chain says it will roll out the dollar craving value nationwide but wendy's has steered pricing for the

cheaper menu will it be as successful? >> i want to be in the focus group for this. i think it will topsails. but played at night when you have a craving that is a good place to go. melissa: a doesn't matter if it is one package for $1 is all the same stuff. >> of a fast-food companies are creating the $0.99 menu trying to outdo the accompanies. it is a smart idea they may spend the same amount of money but they are coming because it is only $1 and. doritos loco tacos. >> you know, when i'm having for dinner. tom sullivan one discovery causes it to completely reevaluate. >> newsncludes a family that receives ughly $100,000 of welfare benefits 2002 through 2012 i thought

was headed thousand dollars over tenures is $10,000 per year a little more than $800 per month the first did not seem that much give their story with immigrants asking for asylum and would be killed if they did not leave and father is well educated with two children. when they arrived it seemed like a reasonable idea to help this immigrant out to be set up on their own 2 feet. but there is much more than the 100,000 but housing assistance, rent was paid for, a food stamps, free medical care and what else? but if they were so fearful of being killed, why did they go back? is anybody checking to see if the immigrant stories are true? the complaint about mexico but how many other people are learning how to game the system and view our generosity as a magnet? widely doolittle checking before handing over our many? melissa: be sure to watch the thomas sullivan show

this weekend at 7:00 and 10:00 p.m. saturday and said on negative sunday. it. so we have for today. we will see you tomorrow. john: and they're off. south dakota an early lead. in which state our people freest? >> new hampshire is looking especially coveted. john: laboratories of democracy. states can battle over smoking weed. >> should the federal government telling you what to put in your body? >> no. >> this is what democracy looks like. john: whether you can be forced to join a union. the battle over how much money you must give to government. >> indiana and delaware are rocketing. john: which strangles freedom?