petallides. nicole: the s&p is eyeing its fifth straight day of gains and is 11th record of the year. the data has been getting closer and closer to 15,000. it is worth taking a look at mcdonald's. april same-store sales. right now, the stock is down about 1%. they did note that economic weakness that is still looming they are in europe.

that affected their same-store sales numbers. however, here in the united states of america, they actually posted a small improvement. back to you. lori: nicole petallides, thank you very much. ashley: another week, another record for our inventory. phil flynn of price futures group in the pit of the cmd. >> traders want more. probably the most and 85 years. obviously, the strong stock maaket seems to be indicating a stronger market.

if you look at the impact in gasoline and the heating oil, that is what has been getting a lot of play. it may be a sign that they expect gas to improve. ashley: brent and west texas crude is hitting the lowest level since january 2012. >> we are finally taking advantage of all the oil production we have in this country. because the supply went down a little bit, there is an expectation we will be able to export it to the global market. that is exactly what you are seeing right now. ashley: terrific stuff. phil flynn, thank you so much. lori: the cyber threat. china's use of espionage. fueling already heightened

concerns. the senate held a hearing on capitol hill today examining that drive. peter barnes joins us now with the latest on that story. peter: help give investigators companies more weapons to fight cyber crime, especially from china. $300 billion in theft from american trade secrets last year alone. one expert told lawmakers today "get tough." >> the administration is doing some naming and shaming. that is good. we should be using our visa authorities. if you hire hackers in the government, you will have to cooperate with investigations or

you will not get visas to come to the united states. peter: the fbi and justice department need more to prevent hacking. back to you. lori: thank you, peter. ashley: record after record on wall street. investors are very cautious. especially after the fake tweet that triggered a selloff. joining me now is congressman scott garrett. congressman, thank you for joining us. what are you hoping to achieve? >> that actually falls into the third of three panels that we will take to look at this.

we want to step back and see how we get to where we are right now and dive into some of the details a little more in detail. the goal is to make sure that there is more investor confidence, more complexity. if we can do that, you will be achieving what you want to do. ashley: to screw up is human, to really screw up takes computers. what average you come up with with regard to changing the regulations or the system, isn't there always a way you can change a computer program to get around it? >> well, sure. i thought congress would be the next step. that is true.

the problem is congress for too long has been looking at these issues in a singular fashion. we need to step back and take a holistic approach. maybe we need to revamp the system in a much larger sense than we have in the past. to answer your question, yes, no matter what we do, there will always be new issues coming up in the future. ashley: you brought up congress and i did not want to put it in the same line as screw up. about what they will demand from the obama administration to allow the ceiling to be raised again.

>> sure. one of the things we have been looking at is how to get our fiscal house in order. we, of course, passed the so-called ryan budget. that does do that. it bounces the budget within the ten year window that we operate on here. maybe we can take another step in that direction. maybe we just need to get the senate and president to agree that balance is a good thing. lock that into gather with a debt limit increase. i think you would have a bot of conservative support for it. ashley: i also want to mention the internet sales tax issue. what is your stance on that? is it an equal playing field or a money grabbing job killer?

>> probably leaning more towards the latter than the former. i think we have began to hear that it is quite a complex issue. the states are all trying to get the even playing field. congress, we are always trying to get that level playing field. it is just something that you cannot achieve, i think. ashley: very good. thank you so much for joining us. appreciate it. >> my pleasure. thanks a lot. lori: after the bell, disney reported blockbuster shares. the theme park division drive disney's profit up 32% from last

year thanks to higher spending and attendance. americans are still trying to cut back on their debt. consumer credit increased at its slowest pace in eight months in march. nearly $8 billion. that was below the estimate, so keep that in mind. credit card debt fell by more than 2%. the first the client this year. all options for oil and gas leases have been postponed. the auctions which covered more than 3000 acres are now scheduled to take place on little later in october. jamie dimon fighting to hang onto the reins. lori: lean and mean describes

ashley webster, of course. also talking about the airlines. what it means for flight prices and availability. ashley: lulu lemon putting it behind them. charles payne looking right through that. lori: there is gold. a nice uptick. silver and copper up 2%. people are thinking the economy may be gaining some traction. back after this. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point rify and lock. command is locked.

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♪ ashley: it is time to make money with charles payne. following up with some of his previous ones. charles: news on lulu lemon and whole foods.

melissa, lori and i have talked about these three so many times. they have an investor. i will hang in until may 13. whole foods had an amazing quarter. lowering prices are little bit, lulu lemon has -- it was up big. i think there was some profit taking. can a consumer keep this going? these are unique stories. i am usually looking at high end ralph lauren, bottom and dollar tree. they are not spending on credit right now. that is interesting. it was a positive article.

the majority was nonfinancial business. only 153 billion went to households. only 3 billion increased in credit card debt. the number that came out yesterday, credit card debt went down. they are spending their entire check at the mall, but they are not being seduced into putting it on that plastic, that credit card. ashley: they were having to put their house and groceries on it for a while. i think they got freaked out. charles: the only thing that will change that is obviously more jobs and higher earnings. too much money chasing too few goods. we ride the wave. something to be wary of. lori: it is interesting to see

the two sides. you have to have it just right. charles: as a business owner, i saw it as a lot. you are absolutely right, lori thanks a lot. we will see you later. lori: a trivia question today. we would like to check back in with nicole petallides. nicole: nicole: let's start off with zillow. when you look at the real estate website, they actually did raised their forecast. the stock is down nearly 10%. they said they would increase

their spending on marketing. that could, in turn, hurt profitability. it is down about 10%. taking a look at wendy's right now. earnings fell 83 present. another loser. that is what we are seeing. down about 5% at the moment. back to you. lori: thank you, nicole. ashley: fewer and fewer domestic flights available lately. airlines have cut scheduled domestic flights by 14%. this means midsized airports have been hit the hardest. even some major airports are

even getting her. one thing on the rise, though, ticket costs. a round-trip ticket $374. remember the days of southwest $29 round trip. lori: another solyndra, and other obama administration backed business bites the dust. ashley: plus, lou dobbs. he is fired up. he will be here next. lori: let's check reaction in the dollar. how is the greenback faring? it is weaker. back after this. ♪ i turned 65 last week.

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♪ >> 22 minutes past the hour. i am lauren green with your fox news minute.

the action was taken after an inspection found the 91st missile spring in north dakota received a delta grade for its skills. and cleveland, police say investigators have found ropes and chains inside the house where three women were found alive after ten years in captivity. charges are expected to come today against the man who owns the home and his two brothers. later liberty will open on independence day. they were damaged and hurricane sandy back in october. those are your headlines. i am lauren green. that to lori and ashley. lori: thank you.

>> the response team from the annex and then gauzy, six individuals, drove the attackers out of the compound. lori: many look at what happened leading up to the attacks as a there election of duty. time for lou dobbs to wait in. you said many people have been waiting for this hearing because we need answers for those lost in the line of duty. lou: absolutely. to a man, they are so upset about what happened in benghazi. the failure to at least act and

provide support. it appears they were just written off by their command which was in washington, d.c. it is unclear what that command is. then, we have a secretary of defense that said you cannot send men and women into combat not knowing what the result will be. real leaders will tell you that is why you sent people into combat. to determine the outcome. we are watching very frustrated public servants who probably took claire's themselves that. i will not go name by name on them. each one of these people testifying today, you can tell is so emotional and spent trying

to deal with the fact that they did nothing. you know, as the testimony continues, we will learn more and more about it. the review board leaders, refusing to testify. it is bizarre what is going on here. there seems to be an attitude permeating the legislation. i cannot give mark thompson and gregory peck's enough credit. this is a day in which we will learn something that we do not

know. i believe the american people will demand answers. to watch these three men, i mean, it is heartrending. we are all caught in one way or another, grieving the loss of four americans. we are also grieving the public's right to know. we have had neither until this point. this has been an eight month stone wall in this administration. lori: talk about the issue of protecting our interests overseas. you have to imagine that this concern has been heightened, obviously with the boston marathon attacks as well. will these hearings result in better security and tactics overseas to protect americans? lou: i would certainly hope so.

the reason is, there has been no one, no one has been held accountable for what happened in benghazi. we do know the outcome and we do know some of the failures, but we do not know the actual people who failed to make decisions that led to the outcome. without that accountability, how can we assure that future? it is a very troubling time. one that i think the american people will be demanding far more hearings, far more answers from this administration. lori: thank you for sharing your wisdom with us. lou dobbs tonight.

ashley: when a 16% drop in first-quarter sales is good news, the new warning from struggling jc pennies. lori: no one was expecting this. one on one with blackstone joan solotar. where are they investing now? that is next. ashley: as we go to break, take a look at who is up and who is down. we will be right back. ♪

.. 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 lened 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, onehing that hasn't changed much is the official retirement age. ♪ the question is how do u make sure you have the money you need to enjoy all of these years. ♪ ashley: time now for stocks

as we do of course every 15 minutes. let's head to the floor of the new york stock exchange. our very own nicole petallides np, session highs, np. >> aw, ashley webster, i've got your number. we're taking a look at names on the move. first one is parent of fox business network. we're looking at news corp today ahead of its quarterly report. it is down right now about 1 1/2%, roughly 31.74. year-to-date it really is a win ir. it is up about 25%. so certainly outpacing the major averages for news corp. in the 4:00 p.m. show we're in the thick of earnings season so we'll have a lost names to show you including not only news corp but also we'll watch groupon, tesla, a name that really has been gaining. tesla certainly has been grabbing some headlines today as well as green mountain coffee roasters. stay tuned to the 4:00 p.m. po get you those numbers. back to you. ashley: very good. nicole, thank you.

lori: okay. these days with stocks at record highs a lot of folks are wondering what to do. where is the smart money headed? we have the senior portfolio manager director of blackstone where she runs the strategy group. welcome to you. >> thank you. lori: curious for your take on the market. is it worth all the hype or do the fundamentals support these levels what do you think?. >> in private equity we take a longer term view but we have to pay a premium to the market, we're looking 15 times multiple in an environment where the economy is growing earnings, are growing, maybe two, 3%. so valuations feel full. lori: okay. so in other words if you're looking at just traditional investment versus alternative investment obviously which is what the blackstone group specializes in, this is your claim to fame, to the tune of $218 billion under management, correct? >> that's correct. lori: there are more opportunities in alternative investment. if we look at your track record and the news headlines you generated over the last couple weeks. first before we get into the

specifics of that, give me a sense what kind of private equity deals or alternative invests are hot right now, types of deals, the size, whether or not there are a lot of bidding wars going on? >> sure. when there is a lot of liquidity available and interest rates are very low that tends to drive pricing up. and so absolutely there is fierce competition for deals and so we focused in different areas. i'll run through them. but in private equity we really focused on nontraditional deals. rather than paying big preems yumts to -- premiums to the market and 20% premiums and taking public companies private we focus on bidding up companies. backing management teams. buying out of favor industries. so, for example, we backed a management team to buy refinery assets when no up with -- no one was interested. built up a company. took that public. we'll buy pieces out of companies that are in distress, need to sell. so i would say we're not really long the market.

we're finding different ways to deploy capital there. lori: simply put there aren't as many stand alone companies on the market these days as there were perhaps five or ten years ago? >> orrwhere we think we can generate a return for our investors and the big challenge most of our investors are corporate pension funds, government pension funds, foreign governments around the world and they need to generate a return of six to 8%. lori: business is doing well for you guys. i know publicly-traded shares of blackstone are up some 40% year-to-date. you're able to charge higher management fees as well. fees as high as they were around the time of the financial crisis right before that hit, correct? so that also has to be helpful to the bottom line. >> we've been very fortunate in all of our businesses. so in real estate we've outperformed the benchmark by over 1000 basis points. in private equity, 900 basis points. in the hedge fund business, 400 basis points and in credit, our fund have generated close to 20%

returns annually. so because of that we've seen investors increasingly give us more and more dollars to invest on their behalf. lori: altruistic invests too. i have know invitation is blackstone's $4.5 billion investment to buy distressed homes. >> yeah. lori: in areas hardest hit from the financial crisis. i'm linking these because of time interests, and hiring 50,000 veterans across the country. what is the time frame especially real estate deals do you peck to benefit there. >> two different but i will link them as well. in relation to housing we take risk capital. we have to generate a good return for our investors and we think we will but it was deploying capital in such a way we were buying post-foreclosed homes, fixing them up, really investing, creating a very high quality product and people can rent those homes now and the average cost is about 30% less than the cost of renting an apartment. as it relates to veterans,

steve schwartzman heard the call there was a big need to hire veterans. realized, here we are, we manage and own a lot of companies, 80 companies, roughly on behalf of our investors. and just thought, this is something we have to do. and so this is purely altruistic but it is the right thing. we think it is good for business. we think it is good for the country. so we committed to hiring 50,000 veterans over five years. lori: thank you for sharing the business outlook with me today. joan solatar joan will be participating in the 2013 university of rochester school of business new york city conference. the theme is reforming crossroad, economic transformation in the year ahead. also honored to moderate one of the panels tomorrow. see you tomorrow. >> thank you. lori: thank you. ashley: could there be a sole sole round two, lori? another energy department-backed company biting the dust. vehicle production group or vpg as it has known, quietly ceased operation and laying off the staff after failing

to meet the government's financial terms. the company which makes vans for the disabled received a $50 million energy department loan under the same clean energy program as fisker and solar startup, sole sole. the oric company, vacuum based in atlanta filed for chapter 11 bankruptcy protection. the move will allow or rec to consolidate the finances to sell the struggling business. agreement to sell the asset could be reached in next few days. news across the pond, alex ferguson, saf, is retiring after 27 years with the world's most iconic soccer chrun. shares of manu tumbling on that news. since have cut back some losses paring a bit. the big question will replace sir alex at manchester united. lori: are you handicapping it? i know you're a fan. ashley: i'm not a huge manu

fan. i respect alex ferguson. david from could be favorite. lori is stunned by that announcement. lori: waiting with bated breath. fail the of jamie dimon at jpmorgan chase. charlie is next. he has exclusive news on dimon as chairman and ceo. ashley: turns out you the taxpayer helped fund more low-wage workers in this country than those two companies combined. lori: interest rates are up today with the rally hanging on. people are coming back to treasurys. 10-year yielding 1.77%. and 30-year which hit 3% yesterday, people are buying treasurys once again. so that is coming down to 2.98%. we're back after this. at a dry cleaner, we replaced people with a machine. what? customers didn't like it.

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>> i'm den necessary neil with your fox business brief. more u.s. homeowners are doing a better job at keeping up with their mortgage payments. according to transunion the rate for payments running more than two months behind fell to 4 1/2% in the first quarter. that is down from almost 6% a year ago and it is the biggest annual drop since transunion began tracking the numbers in '92. united airlines expects to start flying its boeing 787 dreamliner may this. this is the first flight for the airline since the faa grounded the planes in january after overheating problems with the lithium-ion batteries.

ethiopian airlines was first to start flying the dreamliner. a new service allows shop he isers to shop online. and selected par codes with reduced prices. that is the latest from fox business, giving you the power to prosper.

lori: our charlie gasparino was the first to report jpmorgan jamie dimon job was in jeopardy. will leave jpmorgan if stripped of the chairman role? charlie is live at the sohy conference with exclose sieve details what is going on the country's biggest bank. >> hi, guys. this is interesting development. i talk to people are friends with dimon, people who are at jpmorgan now. here is the interesting thing. they are telling me that,

dimon himself has been strangely silent whether he will remain at jpmorgan if they do strip the chairman job from him. as you know there is a major effort by so-called investor activists. i wrote a column at the "new york post" today. i think a lot of it is politically motivated to basically split up the chairman ceo role. i think there is good chance it will happen. i said it in the past and i think i will be proved pretty right based on events right now. here is the interesting dynamic at work. he has not ruled out whether he might leave all together. he is not talking about it. which has a lot of people close to dimon is thinking he is thinking if they strip him from the chairman job he might pack it in all together. i say might. why is that? i think this is still low probability. so do these people. dimon has been pretty much up front when asked how long will he day at jpmorgan. he will not leave the place in a lurch. he has more to do. he has to train the successtores. matt cavanagh is one successor. there are others who don't

have sort of the chops to run the nation's, i think the world's biggest bank, $2 trillion in assets. they deal with something like 50 million people, you know, worldwide. i mean this is a big operation. but i'm telling you, and i'm getting it from inside the company and people that know him. he has not ruled out walking out if they do that knowing dimon, i think it is low probability. i don't think it is an impossibility. he just might be that mad and i think one reason, if he does go, the rationale will be that he really thinks that, you know, that job of chairman and ceo should be with one person. corporate governance argument is not strong enough. as a matter of fact he could make the argument that it is not good corporate governance. that basically divides, you know, sort of your, what you have to focus on way too much. that if you leave it to somebody else. i mean, argument you need a chairman to watch over the ceo. i mean if you have a strong executive, strong board, you don't need a separate chairman.

that those are the arguments going on right now and this is pretty serious stuff going on inside jpmorgan. back to you. lori: yeah. jamie dimon one. biggest if not the biggest player on wall street. thank you so much, charlie for calling in. ashley: we'll see how it plays out. charlie is in vegas by the way. lori: that is dangerous. ashley: dangerous but sounded very --. be there. ashley: and happy to be there. carry on the good work, charlie. as we do every 15 minutes let's check the markets. john corpina, meridian equity partners on the floor of the new york stock exchange. thanks for joining us. market getting a bit of a breather as we've gotten or getting through the bulk of the earning season, will it be economic data that will be a market mover now? >> that's exactly it. if you look where we've been and where we're going to as we get through earnings season, things will dry up. that will be a catalyst for this market. investors will want information to figure out is this the top or do we keep putting money in? i think economic calendar will push us light this week.

it will be next week's calendar and moving forward that will help investors figure out where they want to go. as always there are headlines coming out whether europe, middle east, whether it is china will give investors some sort of a catalyst in this market but right now all these different factors we've been looking at all helped the market move higher and higher. the market seems to shrug off any negative headlines. anything negative out of washington will be the next thing that investors will look at. ashley: very good. jonathan, quickly will we see the much talked about summer swoon in your opinion? >> every time we have that conversation it doesn't come to fruition. we talk about sell in may, come may, sell in may, we're not just seeing that yet. let's continue to see how this plays out. seems like all rules are off the table. ashley: history books don't always help if you this situation situation. john, thank you very much. >> thank you. ashley: jcpenney warning of another weak sales quarter but guess who it is blaming for the expected drop? we'll tell you next. lori: i don't know, maybe

the ceo you drop-kicked out of there, ron johnson? we'll see. here is look at some of the winners with the dow up 13 points and happening onto the record close yesterday past 15,000 for the first time ever. we're back with more after a quick break. are you still sleeping? just wanted to check and make sure that we were on schedul the first technology of its kind... mom and dad, i have great news. is now providing answers famili need. siemens. answers. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filterand strategies...

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lori: while we were on the air last night and surprise, surprise, jcpenney preannounced and it was a ugly first quarter number with yet another major sales drop but moreover the came out and blamed departing ceo ron johnson. liz macdonald with the bottom line. >> look at jcpenney is what they're saying essentially the fault of ceo ron's

johnson. results for the prior quarter, marketing strategies which are being changed under new leadership. news flash, the current ceo is a former ceo of jcpenney, myron ullman. he used to work at jcpenney. can he really do the blame game and for how long? this is corporate equivalent of blaming george w. bush. ashley: charge for the quarter. >> that's exactly right. they burned through nearly ten million a day. nearly a billion dollars cash last three months, 950 million bucks. jcpenney is retail's favorite punching bag right now. the fact sales will be down a projected 16% versus last year. better than 18%, 20 5% drags we're seeing in recent quarters but how long can he do the blame game here? this is his company right now. he has $1.75 billion credit line from goldman sachs. can he turn it around in a year? retail stores is really jcpenney a real estate play with the mall stores being valuable? no. the mall stores, you seen

other mall stores gone under, nobody moves into the fancy stores. sears is talking about turning their stores into gun shops. they're not prime estate territory. this is what wall street is it waiting on to see what will be mike ullman's turn around strategy and wlrnlt he can continue to plame ron johnson. the stock is up nicely. i think that is because the operating expenses are lower than expected. ashley:. lori: emac a turnaround story not take over story, that mike ullman is pointing fingers at ron john that he is out and clear the deck and put jcpenney in good shape for an acquisition? >> it is a take-out story. you talk to guys on wall street, jcpenney has to position itself is to be broken up or acquired. that is it. burning through ten million a day. plus the stores are still under construction. they're not selling the storyline right to the consumer yet. even though the discount strategy is back in play, i'm saying, he probably has less than a year to convince

wall street even though the stock popped nicely today. lori: i already has been fired. that is why he was replaced by johnson in the first place. confidence level can't be there. >> that's a great point. lori: emac, thank you. ashley: federal taxpayers employ more low-wage workers than mcdonald's and wal-mart combined. that is result from a new study by consulting firm demos. they funded 2 million private sector jobs from government contracts and other public sources that pay roughly $24,000 per year while wal-mart and mcdonald's employ just under 1 1/2 million people. the study also found inequality in the government contracting industry with higher ups bringing in millions while many contract employees struggle billion to make ends meet. so there you go. another survey showing how unfair things can be. lori: surprise, surprise. ashley: when you get the government involved. stigma around. tracy byrnes will join me the next hour. we'll debate the online sales tax bill. that is biggie.

we'll do that with republican congressman tom graves georgia, democrat peter welch of vermont. it will be a battle royale. will the bill level the playing field or will it be another tax hike for consumers? you don't want to miss what they have to say. lori: there she is. ashley: there she is. the fan fair begins. stay with us.

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[ coyote howls ] how about no more surprises? now you can get all the onli trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. tracy: hey, i'm tracy byrnes. ashley: and i'm ashley webster. stocks on track for another record close. so how should you play this rally? we'll hear from one strategist who says invest in companies with international exposure. tracy: and the online sales tax bill passed the senate but now it faces really tough opposition in the house. and we're going to hear from congressman from both sides of the aisle. we have one who says the bill would level the playing field. we have another said it is simply a tax hike. ashley: "the great gatsby" heading to the big screen for a 7th time. this time the roaring '20s tale is told with a 21st century twist.

the question is, can the latest version overcome the gatsby curse? tracy: there is definitely is one. it is top of the hour. time for stocks. so we've got to head down to nicole petallides on the floor of the new york stock exchange. the dow is in the green. that's something. >> it really is. getting closer and closer to couple things. getting closer to the all-time high set earlier after 15,079. we're getting closer to 15,100. when you talk to traders here on wall street they talk about the fact this is an overbought market. we're up 12 of 14 days and yet they say the momentum remains to the upside and you're not really seeing much signs of weakness in any given sector here. so you are seeing strength continuing. the s&p 500 also breaking new records there, up one quarter of 1%. i wanted to get to whole foods. that is a name on the move. now you see whole foods is a real winner on the s&p 500. it is up 10%. they came out with nair

numbers, all-time high, sales on the rise and more locations and bringing in customers less upscale and not interested in whole foods. they're doing exactly that. the sales is on the rise and 2-for-1 stock plight split. back to you. tracy: thank you very much, nicole. see you in 15 minutes. >> with stocks breaking records almost every day it seems how should you play the rally? jason pried joins me, from glenmede investment strategy. thanks for joining me. i asked a trader on the floor are you expecting a much talked about summer swoon? when you look at the history books it may indicate that but what we're seeing right now is blowing out the history books, isn't it? >> it definitely is. this is contrary to some of our economic models that show some signs of a sum are swoon at the on set here. having said that, the chances are it will be shallow and not that big. something to protect your portfolio as little bit but maybe not overdue that --

overdo that protection and go all the way into cash and treasurys and in full defensive mode. ashley: okay. that is the defensive mode. what are you telling clients? what is your strategy to play the market right now? >> so right now, really comes down to three things. stability, dividend growth, and exposure to the growing emerging market consumer. all three of those things are the primary themes we're emphasizing in equity portfolios if you're going to be taking risk you better take relatively safe risk. stability in business, stability is key. dividend growth is a nice add-on for the companies capable of delivering it instead of just appreciation or instead of just dividend yield that is above normal. and then lastly that focus on the em consumer. we think this is the perhaps it's not talked about as much as it should be. it is probably the most clearly identifiable trend that we can see with ten to 20% increase in wages for the foreseeable future and governments getting behind the consumerization of the

emerging markets this is trend that will likely be in place for quite some time. we know what happens when people make more. the em consumers are making more money they are going to spend more money. that lead us to things like philip morris international, colgate-palmolive and yum brand, all of which are clearly attached to that emerging markets theme. ashley: of course so much of the emerging markets are tied to china and we can never really get a clear picture what is going on in china. is it really, when we get this numbers is it really that good and or is it really that bad and how can you play that if you don't have all the facts? data in the emerging markets is going to be relatively sparse. there are going to be data points you can not trust. what you can trust though is the interactions with the global markets. you can trust the interactions between countries that you can trust their data reporting and the countries they do trade with, china being a relatively large trading partner we know exactly what their

imports, exports look like. we have a pretty good idea what their electricity prices look like and there are a number of outside non-china data reporters, point to stats maybe a little muted than what the chinese government itself tends to report. we continue to believe there is strength there and continuing strength around the emerging markets. maybe lower than what is generally reported but stronger than the developed markets and still rides on the back of this reality many of those nations are industrializing and they're consumerizing and they're operating from a standpoint of strength with their global or with their government bank balance sheets. ashley: right. >> many of those nations do not have the same debt overload that we have. ashley: sad to say but that's true. now look among the best performing sectors so far in may we have the industrials, consumer discretionary, energy and tech. now tech has been, you know, the laggard along here. do you like the tech sector at all and any particular play? >> we like the tech sector as a general play. i mean you have to be very

specific. from our perspective it really comes down to less so sector selection, more so individual stock selection and i let our equity teams do that a lot for us. i know they're very much focused on stable technology and emerging opportunities in that space. ashley: as we look ahead though, are you concerned about the lack of corporate revenue growth which we've seen in the latest earnings? >> we think corporate revenue growth is kind of similar to that idea that is coming through in ours. you know, we're seeing some signs of a summer, sort of slowdown coming about. it might be more mild than it has been in the past three years but it is, there, nevertheless. really the truth of it is we're still going through deleveraging. growth will not reach 3 to 4% on a, sustainable basis for quite some time but, the likelihood of it falling out under to 80% or lower is

considerably below where it was before as well. ashley: very good. lots of information, jason pried, thanks very much for joining us. >> thanks for having me, ashley. tracy: well the cyber threat continues. china's rampant use of cyber espionage and threats from hacktivist groups like anonymous fueling heightened concerns over the nation's cyber preparedness. the senate held a hearing this afternoon examining that very threat. peter barnes is on the story. he joins us from washington with the latest the peter, they have to do something. >> tracy they're trying to get new cybersecurity legislation moving on the hill to give government investigators and companies more weapons to fight cybercrime especially from china. officials have called this problem the greatest transfer of wealth in human history. $300 billion in theft of american trade secrets alone just last year. and there are of course all these cyber attacks on banks and media organizations. lawmakers and witnesses said u.s. policymakers need to

get tough. >> if this really is the biggest transfer of wealth in the history of humankind through illicit means we're still pretty underresourced for it when you put it up against a dea just to deal with narcotics. we've got atf just for alcohol, tobacco, firearms and bombs. where are we in terms of what are we doing about this new threat? >> well one idea is to get law enforcement and private companies to share more information with each other, to set up kind of a early warning system when cyberthreats start to emerge. and, there is new legislation on the hill that would block imports of products containing stolen u.s. technology. tracy and ashley. tracy: peter barnes, we've got to do something. thank you, sir. >> you bet. ashley: all right, still to come, shares of jcpenney are soaring after the company warned on its first quarter sales. so what exactly do investors like these struggling retailers? liz macdonald is following

this story and she will get to the bottom of it next. tracy: tax-free on-line shopping could be coming to an end. we have a debate on the internet sales tax with congressman on both sides of the aisle. but first as we do every day at this time of day we've got to take a look how oil is trading. it is up about a dollar. $96.66 a barrel. we'll be right back.

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the question is how do you make sure you have the money you need to enjoy all of these years. ♪ tracy: dow is up 18 point. we have to make some money. charles payne is here this hour. he is driving profits to your portfolio with this international automotive supplier. >> starting to load up here. american axle, the other day, auto partsmaker. this is very similar story. that same day i was grappling and i had to come out here and do this because the volume assume amazing on this stock. one thing i look closely is volume. the stock is coming off double-bottom if you use a

five-year chart. one-year chart it is extraordinarily ugly. oh, man, forget about it. it is downhill. there she blows. but, i think they're turning it around. they just reported and not year-over-year but quarter over quarter stuff was much better. revenues increased and the gross margins i was impressed with, 14.4% from ten.8% in three-month period. original manufacturing. after-market stuff. power trains they're big business. we know some of their stuff like champion spark plugs. i could have saved this tomorrow with dagen. kevin harvick is one of their races. ashley: she would be excited about that. >> brought the whole team with that one. this is one of these names. automobile manufacturing around the world, come on really strong. ashley: yeah. >> what is interesting i found out they talked about, light vehicle production, in 2017 in america willlbe just 12 million and ten million now. in "bric" nations, 46

million from 27 million. tracy: in interest of diversification would you buy this or american axle? >> i knew you were going to ask that one. i knew you were going to ask that one. this one is starting to call me a little more. i feel like american axle, at this price and level way it is acting right now, this one has higher risk. they have missed the street four quarters in a row. the stock is going straight downhill but i think i'm picking it. i think i'm finding it right at a turn. i think might have more reward but has high-risk. does that answer the question? tracy: a little bit. ashley: kind of. tracy: we'll take it. >> there you go. we'll take it. with those cufflinks you could buy the whole market. check out those cufflinks. they're fantastic. ashley: this is regal ones. >> did the queen give you those before you left? ashley: afraid not. charles, thank you very much. tracy: charles payne. ashley: you love these cufflinks. tracy: he love all cufflinks. ashley: got them for

christmas. it is a quarter past. time to check the markets. nicole petallides on the floor of the new york stock exchange where we go every 15 minutes. nicole. >> ashley and tracy looking at couple of names on the move. you just mentioned christmas. that is something electronic arts is looking forward to. they're projecting a good holiday season for electronic arts. the stock is up about 14%. there are some concerns about near-term choppiness they have also solidified a deal with fifa until the year 2020 two. good news, good outlook for electronic arts. good earnings outlook for 2014, that is above the analyst estimates for earnings at that point and that is why you're seeing a big jump up 2.58. at 20.99. look lag at media company, aol media. you're looking here, they reported their first quarter revenue growth with strength in the advertising business. the stock as you can see is to the downside, down about 10%. some concerns about ad revenue growth. that is something we'll

continue to watch going forward. the concerns is that profits were still mostly coming from shrinking dial-up platform. the question that the analysts start to have is the content they're providing is this really going to be profitable going forward? that is one of the reasons why you're seeing aol, it is obviously under some pressure now. that is the latest. back to you. very much.cole, thank you we'll be back with you in 15 minutes with the dow at session highs. starting to pick up more momentum. talking about aol which nicole was, tune into fox business at 3:00 p.m. eastern, liz claman will talk to the chairman and ceo tim armstrong on "countdown to the closing bell". so don't miss that. tracy: coming up if you can believe this there is a bright spot for struggling retailer jcpenney. the stock is actually surging during trading today. we'll tell you why. it is an enigma. ashley: ah. certainly a mystery. here is how the dollar is moving right now. generally weaker against these currencies. it is up against the peso but it will cost you 1.31

and a little bit more to buy one euro tracy as you plan to head that direction soon. tracy: yeah. ashley: we'll be right back.

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>> at 19 minutes past the hour i'm lauren green with your fox news minute. in cleveland police say investigators have found

ropes and chains an side the house where three women were rescued alive after about ten years in captivity. officials say no human remains were found after a house search. charges are expected to come against the man who owns the home and his two brothers. the air force has stripped 17 officers of the authority to control and possibly launch nuclear missiles. the action was taken after an inspection found the 91st missile wing at minot air force base in north dakota received a "d" grade for its missile operations skills. 150 officers are assigned to missile launch duty. laidly liberty will reopen on independence day the national parks service is confirming the statue of liberty will be open an july 4th. liberty island, ellis island and the statue have been closed to visitors since all were damaged in hurricane sandy back in october. those are your headlines, i'm lauren green. back to tracy and ashley. tracy: thank you, lauren. i'm glad lady liberty is

opening up. >>. >> all right, jcpenney blaming outed ceo ron johnson for all its problems as maybe well it should. but it warns that first quarter sales will be worse than expected. here with more is liz macdonald. emac's bottom line. i actually think there's a lot of blame to go around. >> yeah. i'll tell you something, jcpenney is retail's favorite punching bag though and jcpenney is playing the blame game. put up statement blaming former ceo ron johnson. here it is. results for quarter reflect prior pricing and marketing strategies which are being changed under new leadership. news flash, the new ceo is the former ceo of pennsylvania. -- jcpenney. this is his quarter. the company is going through a nearly quarter of a million dollars in cash burn, and nearly 10 million dollars a day. the stock is up sales decline is less bad than expected. slower than the 18% to 25% hit to revenues. that's right. so but the question is, for

wall street, how long can myron ullman keep blaming ron johnson in this is the corporate equivalent of blaming george w. bush. i'll tell you something the turnaround here for j. c penny is now. can they do you burning through liquidity? they have a $1.75 billion bucks in a credit line from goldman sachs and yes, he is bringing back the discount strategy --. ashley: the same guy they fired for ron's johnson. >> that is exactly right. now what is implicit in the pe and break up value of jcpenney. the real estate play here, whether or not they can basically break up the company and sell off those mall stores. we've already talked about how sears tried to do that. they thought sears would turn some of its property into gun stores. so, the question is, what is the time frame? the clock is ticking on myron ullman to turn around jcpenney and can he continue quarter after quarter to blame ron johnson? i'm saying no after this quarter. not so, not right now. there you go. emac unplugged on that one.

tracy: you go, girl the. ashley: in the raw. very good. emac. tracy: they sold one more shirt, more than anemic and we're calling that less bad. >> there you go. tracy: that's good. good math. liz macdonald. >> sure. ashley: all right the federal government is releasing new data on what hospitals are billing and prices for the same procedures, they're all over the map. kind of disturbing. gerri willis is here with more. gerri, what is all this about? >> i don't know if i can keep up with emac. that was great. here's what we're talking about, hospital procedures costing different at different hospitals across the country. i don't mean five cents difference, $2, tens of thousands of dollars in different prices. let's look at someeof these. for example in new jersey if you're getting a pacemaker could pay 70,000 for it pay 101,000 for it. those two towns are not that far apart. in florida for a gallbladder operation you could pay 40,000 or 91,000. ashley: whoa. >> simple case of pneumonia

pay 15,000 to be treated or pay 38,000 to be treated. people are asking questions today why are these prices so different? what is going on here? what is underlying this? you remember the steve brill in "time" magazine talked a lot about this. part of this is everybody trying to get a piece of the pie, trying to get a share. they will all be for the most part in most cases reimbursed by medicare. that is part of the equation. also teaching hospitals versus non-teaching hospitals but there is really no good explanation as why you would pay the different place. >> isn't that a good explanation? i saw that in your notes. teaching hospitals or treating sicker patients. they should be paid more. >> they should be paid more. tracy: right, right. >> i don't think there is any good reason for this. as you probably know health and human services is having a phone call, a presser on this today. they will talk about how they're putting out into the marketplace 100 prices for the most common procedures out there.

most common surgeries. but so consumers may be more informed but i have to tell you, folks usually don't shop hospitals. ashley: they don't the that is very true. tracy: i think we all have a story to tell of someone, every time went to the doctor for something and what they billed was so dramatically different than what paid. >> paying 15 bucks for a tile roll tablet. in a hospital that's what happens. these prices are jacked up largely because all the hospitals are reimbursed by medicare at some level. they put the prices way --. ashley: pay for uninsured getting treated push up prices for everyone else true. go to the u.k. and get it for nothing. tracy: that is a great point. ashley: to wait a while but still costs nothing. what do you have coming up? >> this is very exciting. annika sorenstam is coming on our show tonight. probably only woman golfer in competition shot a 59. a big star on the lpga tour. i have on my tennis shoes right now because i just

shot a video. tracy: where is it. ashley: there it nice i shot a video to ask annika to look at my swing to show where i went wrong. tracy: that is cool. ashley: has she seen it yet. >> no. i can tell you ahead of time, nobody who will be impressed. tracy: that is cool. >> mom, that means you. i don't want to hear. tracy: 6:00 and 9:00 p.m. eastern on the fox business network, watch gerri's swing. ashley: before she leaves for the lpga. tracy: next sunny day you will know why she isn't at work. coming up the sales tax bill passed the senate but face as more difficult time in the house. we have congressman from both sides of the aisle. ashley: before we head to break let's look at some -pwinners and losers on the s&p 500. we'll be right back.

♪ ashley: half past the hour. take a look at this valve 30. about two thirds in the green. disney and mcdonald's, to favorites. down a little bit today. nicole petallides by. nicole: mcdonald's does have a down arrow today, as you noted. down 1.1% at $101.15 a share. one thing they noted was continued economic week this

over in europe coupled with some china over in europe. this is something that has hit some of these fast food companies. they did well here in the united states. symantec found 3%. they gave an outlook that was weak. that pushed the stock to the downside. they actually did well in the latest order. back to you. ashley: thank you. tracy: the internet sales tax moving on to the house where it is expected to face serious opposition. we have representatives from both sides of the aisle. we have peter welch who supports the bill and representative graves who does not. tax fairness should be to reduce

taxes altogether, i get back, but the odds of that happening anytime soon are slim to none. >> the only place, you look at washington, fairness -- it is more taxes imposed on hard-working americans. additional taxes is not the answer. tracy: if i go to barnes & noble i pay tax, if i go online, i do not. that is not fair.

>> the point of this bill is no. have a level playing field. do not put our brick and mortar retailers at this brutal disadvantage. this is about state rights and local control. this is us deferring to the states where they decide yes or no on whether there will be a sales tax. there are concerns if we will remedy that with a lower sales tax. tracy: may i ask, if we give the state the right to tax, does that open the door for them to collect taxes from other states? >> they can impose state sales tax as they wish.

my question is, why is the federal government getting involved in this at all. it is a lousy government to encroach once again on a very vibrant part of our economy. when it is moving, you tax it, when he keeps moving, you regulate it and when it stops moving, subsidize it. >> you can have your argument. my case, the federal government has literally nothing to do with that. that tax is one that is assessed on a purchaser when you buy

something. the federal government is not getting involved in this at all. tracy: you are relying on the purchaser to report that sales tax. >> it is not really collectible. >> instead, we want to appoint marketplace fairness. expanding the federal government's reach. e-commerce tax collectors is what it is. the states cannot enforce their own tax codes? the federal government was always to protect the american people. this is just reaching into their

pockets. >> let's talk about what's really in the bill. there is not one red cent that would go into the federal government. if i order something from, let say, california and i am from vermont, that retailer will collect the tax. >> it is real simple. tracy: can i ask you the last question, are we ignoring the internet if we are not including it in everything else? are we ate on the internet saying it is not even really part of the economy? it does not deserve to be governed by the same rules?

>> taxing it will only make it worse. it will slow our economy down. why is leveling the playing field always raising taxes? tracy: gentlemen -- >> will consumers pay more in taxes or less under this legislation? they will pay more. tracy: this was an excellent debate. i was sitting in the middle on the fence with this. it was a pleasure to hear both of your cases. thank you. >> thank you. ashley: they could have gone all day. breaking news. $96.62 a barrel. still to come, the u.s. economy may still be turning around.

the euro zone still in a deep recession. what will it take to turn it around? we will be asking john lipsky straightahead. ♪ for business... is our business. welcome to the new buffalo. welcome to the new buffalo. welcome to the new buffalo. new york ste is throwing out the old rule book to giveour business a new edge, the edge you can only get in new york state. to grow or start your business, visit thenewny.com

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ashley: german industrial production rose again. with the euro zone in a

ate at a record high, what is that output for the region? joining us now is john lipsky. we have not talked that much about europe these days. that does not mean that the problems have gone away. >> not at all. some structural changes and how the euro zone and european union economy work need to be made. ashley: i was going to say that germans and the french, the battle between austerity and, you know, getting the economy growing just do not seem to be going together very well. how do you walk that line? >> with all due respect, i do not think the issue of austerity versus growth is a very

productive way to view this. there is no dow that most of the economies of the euro zone need to adjust their fiscal accounts. the question is, what is the appropriate pace of that adjustment? in practice, the government have agreed, in essence, to allow automatic stabilizers to work rather than hold to fix targets, if the economy has underperformed they are being allowed to slow down the process of adjustments. the real problem of the euro zone economy has been the loss of competitiveness of a economies relative. that is occurring. it requires supportive measures

of breaking down monopolies, of opening a economies, of liberalizing to achieve and especially to improve the workings of labor markets. those are big targets, big jobs. they will take a bit of time. ashley: they certainly are. >> there is no question that the european banking system, it is important to remember that the euro zone economy is much more dependent on bank credit. it is absolutely crucial that the banking system be stabilized , strongly capitalized and efficient and be able to supply growth. the central bank has taken some

extra actions just like the feds have here, but more is needed. there have been some very important decisions on creating what they call a banking union. these are big jobs that will take time. it is important that the central banks support the banks. ashley: we are already out of time. thank you very much. james lipsky. tracy: it is a quarter till. time for stocks now as we do every 15 minutes. we are about 20 points off of session lows right now. what is going on? >> let's not panic here, tracy. this target needs to take a breather every once and a while.

not a lot of economic data coming out for the rest of the week. earnings season starting to wind down. we will see some more economic data, some more earnings tomorrow. opening.be very busy on the tracy: tech and financials actually doing fairly well. does that mean that this could keep going? >> i think so. no one is scaring investors out of the technology and financial sectors. they are feeling very comfortable getting back into them. it will be interesting to see if those sectors can hold on. tracy: thank you very much. >> always a pleasure.

ashley: standardized testing means hours of filling in those bubbles. not anymore. find out how one major exam is planning to go digital. tracy: we will be right back. ♪ how old 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 much is 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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tracy: standardized college entrance exams. could number two pencils be a thing of the past? joining us now john erickson, president of the acth education division.

>> that is true. we want to make sure that the students have an opportunity to test in a way that is familiar with them. tracy: the asa -- sat is still out there; right? >> that a cte has been around since 1959. tracy: my school did not ask me to take it. >> every college in the country it will take both. most students take the act now. it has a hint of familiarity for

them. tracy: it really depends on the kid. >> the act doesn't go to signs and upper-level math. tracy: let's talk about this divide. let's talk about these kids that may not be as tech savvy. does that create an unfair advantage? >> that is something we are very concerned about. we will continue to have a paper and pencil version. some say, boy, we'd like to have a scratch piece of paper. we like that feeling of the number two pencil and we would like to continue that. tracy: what about cheating?

cheating is a big concern. tech savvy teenagers are smart. >> there will always be students that try to break the rules. the tech application has more security around it. even the paper and pencil. it will still be proctored. internet searching and everything can be locked down during testing. we are paying attention, but we are not worried about it. speak ten do they truly measure a kids aptitude? >> we are trying to measure what a student has learned in school and apply it to college. it will only improve through computer delivery.

tracy: the kid get to know exactly what he got as opposed to waiting like i did back in the horse and buggy days. thank you. ashley: hollywood has tried a dozen times and failed. now, warner bros. took right to the real. "the great gatsby." >> robert redford could not make the hit in 1974. now here comes leonardo caprio and carey mulligan. the new gatsby is directed by the man who did moulin rouge. this gatsby uses fancy special

of facts and 3d in music from the rapper jay-z and beyoncé. it premieres on a crunch weekend. one weekend after the debut of ironman three and one weekend before the new star trek. reviews are mixed so far. it gets only a 42% positive rating from critics on rotten tomatoes.com. fans said they plan to see it. the great gatsby is generating more online buzz and even ironman three did. getting 100,000 mentions.

maybe this can break the curse. we will see this weekend. ashley: you never know. tracy: "countdown to the closing bell" is next. liz claman will be here. she will tell you who the richest people are on twitter and what they are tweeting about. i bet it is a ferrari. [ laughter ] tracy: don't go anywhere. straight ahead. ♪ but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade.

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>> "countdown to the closing bell" begins now. ♪ liz: good afternoon, everybody. i am liz claman. it is another day of record highs. forty members of the s&p 500 are hitting not just ties, but all time highs. while they appear, ralph lauren hit and all-time high today. google and block rock looking very