who was targeted and what is being done to stop it? lori: dowell 20,000? the ultimate owlish case for stocks. it is time for our first check of the new york stock exchange. stocks off of the lows of the day. nicole: that is right. after three straight weeks of gains today pulling back just a little bit as you can see on the dow jones industrials, but when you look at the whole big board, the tech heavy nasdaq, up about six points, and the s&p 500 is up right now just fractionally not even one point. sitting in the unchanged line basically says we are holding the gains we have seen over the last three weeks. into retail sales numbers, some news out of china, a mixed bag, economic news with a name like

dell but we have followed so closely and now we're hearing the latest a special committee is asking for more information from carl icahn on his latest bid. the latest acquisitions on proposals and an alternative to michael dell's bid is not approved. this is an ongoing story, neil cavuto has carl icahn on friday, seeing the stock up one-tenth of 1%. year to date up about 33%. back to you. lori: thank you be at melissa: president obama responding to reporters. rich edson has the latest on washington, d.c. rich: president obama taking a question after meeting with the british prime minister saying this irs conduct is not acceptable. >> i can tell you if you have the irs, anything less than a

neutral and nonpartisan way, that is outrageous, contrary to our traditions and people have to be held accountable and have to be fixed. >ridge: another promise investigation. chairman max baucus says they should be prepaaed for a full investigation by the senate finance committee, the irs will now be the ones put under additional scrutiny. treasury inspector general is investigating this and has assembled a timeline of the irs targeting conservative groups showing irs search for groups apply for tax-exempt status involving tea party groups in the spring of 2010. in july they requested specialists to be on the lookout. july 2011 attended a briefing, and on the agenda that day was the discussion of identifying groups whose issues involve government spending and debt and taxes and criticize how the government is run. this is only part of the

inspector general's report. officials will release the full report this week. back to you. melissa: thanks so much. harassment darrell issa has been calling for answers for more than a year, he joins us in just minutes with reaction to the comments today. lori: friday saw in a record close for the dow and s&p. all of these records, dow 20,000 can't be that far away, right? seth masters is joining us. so good to see you. >> good to see you. lori: the dowell at that point was 12,900, correct? i ha have to imagine the market conditions have improved since then. characterize the market for me, if you will come and what the timeframe for dow 20,000? >> we thought the market would hit 20,000 on the dow in the coming decade was still think that will probably happen.

if anything we would have done better because we have made even more progress. lori: when you say progress, you talk about the overall balance sheet? >> sentiment has improved a bit. companies have definitely been delivering in terms of strong profitability, cleaning up their balance sheets and using their cash wisely. the dividend yield 2.1%, higher than treasuries on top of which another 2% in share uybacks. contributing to getting cashback and shareholders hands. lori: you're the only bullish one with talks to recently would be an understatement. they have to be risks out there, what concerns you, if anything at all, even. >> returns overall in this

environment will not be as high as people are used to 10, 20 years ago and that is just because the faith level of investment returns from treasury bonds is so extremely low and the market price is up on that. some risks for investors who had to think how they going to generate the kind of income and wealth they need to meet their future potential goals. >> a longer-term records more like 3%. lori: interesting. another thing that comes to mind is april retail sales data showing one-tenth of 1% gain, forecast is looking for a decline, don't ever rule out the american consumer, but it begs the question, should the fed pay for even halted quantitative easing purchases and that that happens, cannot help the stock market run?

>> if you look at where the p/e is today, about 14 times, that is actually not very demanding given the 10-year treasury is below 2% yield. we have never seen p/e ratios this low when the tenure treasury was below 6% yield. what really is happening is the market is looking through the very low yield anticipating they will in fact have to increase over the next few years and price the stock market accordingly. lori: that is a great metric, actually. go back to profits, the theme of the last earnings season seems to be companies just could not generate revenue. the bottom line is great and beaten many standards, but revenue was still a challenge and at some point was that catch up with the stock market? i'm curious about that as well. >> we are just realistic what is

happening in the market today is companies are faced with a fairly modest amount of economic growth, which is why the revenues have only grown modestly extracting a lot of earnings nonetheless and the reason for that is productivity increasing, companies are controlling their cost really effectively and they are continuing to heighten their capital for shareholders to deliver higher term. the kinds of expectations we would have for stock returns are high single-digit and that is all it would take. lori: lower your expectations and watch the bar rise ever so higher. seth masters. thank you, sir. melissa: coming up in minutes, congressman darrell issa on targeting right-wing groups. the scope of the scandal developing beyond the tea party and we will talk to congressman

isa about this and where it is heading. lori: more troubles for detroit. the new morning after only 45 days on the job. melissa: emitting reporters snooped on clients in the terminals. lori: and let's check gold. gold is down $2.60 per ounce. silver and copper holding up, however. we are back after this.

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ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionate and salmeterol inhalation powder. get your first prescription free and save on refills at advaircopd.com. lori: lets make money with charles payne. looking at making some solar prophetess. --dash profits. >> does having a huge year. they don't name it like them

anymore, it is reinventing itself several times, couple of years ago acquired a company essentially becoming a solar play. listen, solar stocks, there up huge. a company called solar city, we just took profits on it, i couldn't risk it, it is up that much. i love the volume on it. nevertheless, the key points like megawatts, those kind of things are fantastic. 3.3 million shares. you don't see that a lot. i love to see the money management. especially this kind of environment. if this thing closes above six, my next target will be $10 on it. as far as first solar, you just have to ride the wave. china is a big market, think what china did that was

interesting is it started to allow some of them to go bankrupt and to go out of business. kind of good for the entire industry. a novel idea, is a company called canadian solar as a matter of fact i recommended earlier this morning out of china, little bit more volatile but these names are doing absolutely phenomenal. they are very volatile, studies the caveat. i did some power, people were calling me up and e-mailing me like crazy. i haven't heard from anyone, hopefully they didn't bail out. see you later, guys. lori: update on the market, as we do every 15 minutes, the call with some big winners on the dow right now. nicole: we have to look at some names that have had stellar

gains over the last year to date. the major market average, posting gains while the dow jones industrial down close to 32 points at this time after three straight weeks of gains. looking at tesla and netflix. a couple of things to note, the stock at a new all-time high today. that is something worth noting, trading as high as $28. almost a near-perfect rating on the model s. they have had continued success, good news for tesla shareholders. and then there is netflix jumping over the last 52 weeks, 180% hitting a new high today. a leader through the s&p 500, it has been beefing up the content for the subscribers who love netflix and hold it so near and

dear to their hearts. the upcoming season of "arrested development." cheryl casone looking forward to that. i company that believes this particular company streaming video online video trying to get rid of the way all of the regular folks watch tv. it is up about 4% for the moment. melissa: insolvent, not bankrupt, that is the word kevin or is using to describe the financial state of detroit after a month and a half on the job he is delivering reports to the state treasurer today on the $15.6 billion debt. despite what it cuts the city $326 million deficit is expected to grow by another 60 million before the fiscal year ends in june, or raising questions about just how well-funded as

detroit's city employee pension funds are to hopefully ease the payments. lori: supreme court ruling in the patent case. relent reject a farmer's case that the soybeans were not covered by the patents. more than 90% use the seeds. closely watched by businesses that hold patents. yum brands taking a hit that they were down in china as a result of the first out rick. this may sales to be down 30%. most 5300 restaurants in china are kentucky fried chicken. the great gatsby was not enough to win this weekend. "iron man 3" tops ticket sales for the second weekend in a row. ghastly opening weekend exceeded

expectations. melissa: cominn up in just a minute, we're waiting congressman darrell issa on irs targeting right-wing groups. the scope expanding beyond the tea party. reporting on the documents more than a year ago now that the news is breaking. i am sure he has a lot to say about it. lori: bloomberg apologizing for a part of the snooping on big-name clients like goldman sachs, treasury and even ben bernanke. melissa: and the yen climbing to a low against the dollar. why it matters to you. and take a look at how the dollar is faring as we head out to break. higher against the rest of the currencies. we will be right back.

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melissa: congressman darrell issa chairman of the house oversight and reform committee requesting irs inquiry report and currently looking at the situation. he joins us now from capitol hill. i was in, thank you for joining us. he requested his information, are you shocked by what is coming out now, or is it what you expected? >> sadly it is what we expected. we requested and the requested this information. we did so because we became aware of a pattern going on and now we understand the details. if you use constitution, bill of rights, patriot or tea party whu are likely to have a very rough time apparently if you use progressive, you do not. this is what we knew before the election, and now we have proof. melissa: we have any idea who gave this order in the first place? how high does it go?

>> that remains to be seen. taking appropriate investigations to where they lead is important because we have to hold people accountable for this and prevent it from happening in the future. melissa: i was looking at the tatax-exempt status, these organizations are allowed to participate in political activities but their primary activity must be social welfare. groups like moveon.org qualified for that. who decides if the group organizes and what is the criteria for that to qualify? >> he will have to see whether we need to type up language to prevent abuse in the future, but as taxpayers we pass laws that designate who can or cannot qualify for somebody some status and the irs responsibility in a nonpartisan way implement these

laws. this is where the ways and means committee ultimately going to have to determine it was no laws need to be changed, we simply have to fire people, prosecute people or possibly tighten these laws up so this kind of abuse becomes impossible. melissa: which one are you leaning towards there? do you think it was that action, or the law has to be changed? >> he wants to turn the investigation to where it might lead, try to get the truth but the legislative decision belongs to the ways and means and ultimately my suspicion is a lot of this is political ideology, people politically connected to the administration or freelancing, and so that is where a lot of this is, people have to be held accountable. very clearly the lines were crossed using these terms in order to target conservatives.

melissa: what is the most important next step? speak of important next step is for the administration including the president who said very clearly he was as offended as i am to be partners in this instead of obstructing, let's get to the bottom and open access to the kind of information that would cause the american people to know what happened, know that everybody responsible was held accountab accountable, and the committee of jurisdiction house and senate will make sure it doesn't happen again, and we would hope the president would sign those laws if appropriate. melissa: thank you for coming on. >> thank you. lori: bloomberg news in hot water as it admits they snooped on their clients. examining whether there could have been leaks of confidential information. elizabeth macdonald. >> whether or not they get the

news over the rival media outlets including foxbusiness, whether they favored that over the constitutionality of their customers who pay to use the terminal, in other words 35,000 to use the terminal, those individuals may not have known bloomberg reporters were tapping into what they were doing on the terminals. the comment from a top editor at bloomberg news, he says the recent complaints related to practice is almost as old as bloomberg news itself. reporters should not have access to any data considering proprietary. the error is inexcusable. he said no specific securitiess3 or looked at, limited client information but other media outlets are reporting other information. essentially saying fears of the likes of goldman sachs they worry reporters could access what goldman sachs individual workers were doing. jpmorgan chase public relations,

various reporters were trying to tracked down the london's reporter to see if he left to report on it. this seems to be a cultural issue for bloomberg and a very bad one because it puts the credibility and integrity of the bloomberg terminals at issue and in jeopardy. melissa: reporters could not see trades and that very proprietary information. it is hard to accept that after what has happened. they were people who are saying how can we believe this denial? >> if they can access what the banker is looking at, that is what is at issue. the federal reserve telling foxbusiness "we're looking into this situation to have been in touch with bloomberg to learn more." the quote we got from our d.c. bureau.

telling us that. treasury department looking into this as well because government officials use the bloomberg terminals so reporters accessing what th information was being downloaded from government officials. this is a big investigation. they put nine out of 10 bloomberg revenues come from those terminals. they put all that money in jeopardy. lori: we are in the pits of the cme to see what is dragging prices down. melissa: i find the taxman targeting conservative groups. joining us as we learn to see how long higher-ups in washington knew about it.

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melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange. our own nicole petallides is standing by. you're watching aeropostale. >> one to watch here because cowan came out and talked about the teen retailer and just saying the outlook is a little aggressive for their taste. we'll bring you over to the post to take a look but it's off 20% in the past month and saying fundamentals don't necessarily justify the move that we're seeing of the stock is down about 2%. they downgraded the stock to neutral from outperform. concerned second-quarter earnings per share guidance could be below street expectations. like i said. that merchandise margin recovery estimate in the second half, could prove aggressive. that is their words. so aeropostale. you can see it uuder pressure. it is underperforming a name like abercrombie.

that is direct competitor. not doing as well as abercrombie this year. that's it. thank you very much. melissa: nicole, thanks so much. >> i have to correct it. aeropostale year-to-date sup 15%. year-to-date, abercrombie is up 11%. got to get it right. >> gotcha. that is important. you always do. thanks so much. lori: oil prices extending declines into a third straight day on weaker demand data out of china and retail gas sales here in the u.s. lowest in five years according to retail sales monthly. fox business's phil flynn from price futures group is in the cme will sum it up for us. phil. >> that is a question of course of weakening demand not only here in the u.s. but what's happening in china. we saw that incredible number on the retail sales that blew away expectations. we really do have to thank gasoline prices. gasoline prices demand the lowest since september 2008. which really gave a boost to retail sales on one hand but

on the other hand they didn't. we didn't sell a lot of gas that hurt the overall number. at the same time we took the money and spent it on other things. it gave it a boost. without gasoline the retail sales, is pretty darn good number. the other market we have to focus on is natural gas. natural gas is really getting pushed back and forth because of the weather. the weather is unbelievable. take the midwest yesterday. in the 30s, they had a frost. we had heaters on. tomorrow in the 80s, turn on air-conditioning. record heat in places like california. so natural gas getting an inverse move to oil today. back to you. lori: very unseasonable weather patterns,s that for sure, impacting all of us coast to coast. phil, thank you. melissa: despite claiming otherwise a new report obtained by fox business that the irs targeted conservative groups as far as back as 2010. now we're learning the irs was tracking groups involved in limiting government. steve more, "wall street journal" senior economics reporter and editorial board member.

steve what drives me crazy about this story, is that, there's probably a political angle. we'll see as that goes on. certainly appears to me but there is a real money angle because this is about the irs as a revenue center and a way to generate more fees and more money for the government to spend. in fact, just looking at some of the numbers that you dug up, the treasury expects them to collect a billion, to billion and a half more per year because of added audits. some of that is at work here, right? >> that's right. melissa, let me step back one minute because i heard the statement that barack obama made about this scandal. and he said, if this is happening? we don't need and if on that because we know it has happened and we know the irs has been engaged in this enemy's list. now as to your question how much money is going into the irs, it is a vast agency. of all the federal agencies under barack obama few have had bigger increases, melissa, than the irs. obama wants more agent, more

enforcement personnel, bigger budgets for the irs they even call the irs quote, an investment, melissa. melissa: right. >> for every dollar they say they spend they get $4's back. there is no question they have increased the audits. they're snooping on more people. one of the things we learned last week who exactly they're snooping on. melissa: does this go a long way to maybe showing the american public how serious they are about collecting revenue in addition to targeting certain groups? >> there is no doubt about it. melissa: expanding revenue, as much as possible, your and mine dollars so they can spend it as they see fit. >> no question about it. if you have income over a million dollars. you're in that category, melissa. melissa: i don't know about that. come on. what are you talking about? >> your chances, well you deserve a million dollars. melissa: there you go, okay. >> your chance is one in eight of being audited. they increased people that made over $200,000 a year

which is hardly wealthy. those people, their chances of being audited have gone up by a third. so we have a much more aggressive irs auditing american taxpayers and of course that imposes huge costs on americans dealing with all those audits. melissa: so what is your bet, we want to know who sort of came up with this idea? how high do you think it goes as a reporter, steve? >> you know it is a great question and here's why i'm very suspicious this goes well beyond irs at least to the treasury department and maybe up to the white house. melissa, i got some documents a couple of days ago from the house ways and means committee. they were asking the white house and the treasury department back in 2011, two years ago, if this was happening, if conservative groups were being targeted and the, and the treasury department came back and said no. they denied it was happening, melissa. that means they either completely irresponsibly turned a blind eye what was going on at the irs or else they knew about it and

wanted to cover it up. i think, by the way, melissa, why this scandal i think is not going away anytime soon. the house ways and moons committee announced yesterday that they're going to hold hearings on this. and you know, boy, right in the wake of benghazi, this is has been a pretty bad week for the white house. melissa: absolutely. steve moore, thanks so much for coming on. >> thank you, melissa. get a million dollars. you deserve it. melissa: i will work on it. i will have you talk to my agent. lori: interesting theme, snooping, big brother is watching. with this story and the irs story. melissa: we're not paranoid. everyone is actually snooping. that is the bottom line. >> thank you. crazy day today. it has been a year believe it or not since facebook that went public but the debut that turned into a debacle seems all but a distant memory as ipos flood the market. melissa: one lump or two? america's sweet tooth loves suggest far.

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>> i'm jo ling kent with your fox business brief. federal watchdogs are taking aim at curbing lawyers costs in big bankruptcy cases. "the wall street journal" reports that the u.s. trustee program expects to unveil the first guideline overhaul in about 17 years

by july 1st. working women make roughly $443,000 less than men over the course of a lifetime. that is according to the national women's law center. it will take an additional 12 years for a woman to break even. the wage gap widened last year for the first time since the beginning of the economic recovery. chrysler is recalling 469,000 jeep suvs worldwide over a gear shift issue. the recall affects 2006 and 2010 jeep commanders and 2005 to 2010 jeep cherokee. the problem has caused 22 crashes and two injuries. that is the latest from fox business, giving you the power to prosper.

lori: i don't know if you realize this or not, but the ipo market, it is on fire this year and it is on track to return to pre-recession levels. adam shapiro is covering the story and doing some fancy

math for us, adam. >> it is not so fancy. you can figure this one out. the amount of stuff being sold at ipo is much higher than it was at this time last year. "wall street journal" front page article on that, but number of ipos, that is different. activity is different but the volume is huge. let's show you numbers. we got our own numbers from dealogic, their first quarter, review of ecm review in 2013. $8.8 billion, the u.s. ipo market. that was from january through the end of march. now you take a look. that is up over 50% from 2012, 5.8 billion. that was 35 deals versus 39 deals in 2012. so there is some value that is being added as we go through the first quarter of this year. you take a look who the top u.s. ipo deal-makers are. barclays, 1.05 billion. they did 14 deals in the first quarter. goldman sachs, 1.03 billion. they did 11 deals. citi, $925 million worth of

nine deals. the source of that, dealogic. i spoke with chuck, the founder of fast grasp.com. about the ipo market and what does this tell us. this is a man who has been investing over 40 years. he says be very careful with ipos. he gave me a couple quotes. here is one of them. my problem with ipos, wait, seven months or a year after the ipo and invest in it if you really like the company. he points to what other, facebook is one example. at one point they came in at $38. up to $40. fell to the $17. now trading around $26. if you want to go way back to the granddaddy, priceline. at one point they came into the market at $16. shot up in the first day to the $69. dot-com bubble burst. they went down to $2. they're doing much better with splits. with ipos tread carefully but the market as you said, lori, on fire. lori: so are you, thank you, adam. despite the battle against obesity and sugar

the u.s. has not lost its sweet tooth. the latest numbers from information resource ink, sales of white sugar are up 15% from 2009. as sugar gains traction the artificial sweeteners losing out. splenda sales are down from 2009. equal haseen sales tumble 23%. sweet 'n low, the pink packet, sales are down 16%. another reason for those declines is growth of sugar substitutes. their sales have soared 289%. so many choices. it is like overwhelming number of sugar choice. >> that's right. as we do every 15 minutes let's check the markets. doreen mogavero on the floor of the new york stock exchange. doreen, we're down 53 points. what is behind that? >> we're looking at a lot of people talking about the fed getting out or possibly getting out anytime soon. just the fact we have a great run. not surprising to see the

market pull back a little bit. i think everybody was sort of anticipating that we would. melissa: what is happening there? are you trading while talking to us? what is happening to us? >> i am trading. >> good for you. thanks for staying on. what is the number one thing that you're looking for the rest of the day? what do you think will change mood for the rest of the day? >> i don't think anything will really change the mood today. we got a very, very slow day. there is nothing really happening here other than people wondering what the fed will do and wondering when the exit program will happen which nobody thinks will happen toward november or december. this is the case today of people taking profits off the table. you i am taking a little bit of a break. i don't think it is much more than that. it is very slow. melissa: anything big for the rest of the week, doreen? >> we'll always look at any kind of earnings or any kind of corporate news. obviously jamie dimon is in focus so we'll watch jpmorgan. melissa: doreen, thanks so much for coming on. >> thank you. melissa: a presidential ride in the sky for 50 grand. air force one is up for auction. how you can bid.

will you buy that? lori: why not. why not. although you're the millionaire. melissa: no. lori: the yen falling to new lows. what it could mean for the strength of the u.s. dollar especially when we heard doreen saying the fold likely to get out of way here sooner rather than later. ♪ .

lori: you know the saying don't underestimate the u.s. consumers. this morning we got a report on april retail sales that shows a gain and not a decline as many were expected. it is adding voices to

chorus who are looking for fed to taper off or halt the qe purchases. if that happens what does it mean for the u.s. dollar? to that we have axel merk. >> great to be here. lori: score reason said the stock market might be selling off on the expectations that the fed is selling off. >> i think it is a quiet day and they're taking a break. i think the biggest threat we're facing right now is economic growth. the reason i say that, should we really get economic growth, all the money we've been printing stick, good luck to the bond market. lori: right. >> at that stage we'll realize the debt is not sustainable so forth. historically the dollar does not do well when the dollar is in a bear market. for inremembers love the buy the u.s. bond, only in late phases the u.s. dollar tightening does well. don't count on this being a blessing for the dollar, you don't think this will be a clear, historical asset move or dollar rising interest rates? you think it will be more shocking and disorderly.

>> the stock market is already in the stratosphere. people certainly don't like to be in bonds but do you want to be in equities when the volume is thin and there are fewer and fewer buyers out there? the question where do you hide? there is not a safe asset. the dollar cash is not safe because purchasing power of the dollar. one thing we advocate baskets of currencies so you spread internationally with the risk. lori: we had someone call for 20,000 in next five years. is he a little overly bullish? >> we certainly don't have an exit. if we print enough money equity prices will float higher. the challenge is everything rising in tandem, the when bernanke has a cold everything comes crashing down are. you have to diversify with your allocation. lori: on this expertise no place to hide. used to being the yen carry trade. it was prefered safe haven and yen is coming down. g8 7 seems to be a sell signal for the yen as well. you're saying this is the beginning of the end for the

yen. what is going on with japan and monetary policy? >> everybody knows they have been very, very aggressive. this is more than a trade but it is the beginning of the end. reason this is more than a trade because policymakers don't have real. current account is exploding. the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list

because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa: if you ever want to ride on air force one, how about a chance to own it. they will auction off a plane that once served presidents ford, carter, reagan, clinton and both bush presidents. and the premium bid for this piece of history? $50,000. lori: that's it. melissa: how big is your garage? what will you do with it? gsa officials warn the successful bidder will be responsible for removing the former air force one plane from its current location. that's the catch. the auction is set to begin on wednesday at 11:00 a.m.

maybe on a cul-de-sac. just pull it up and park it there. your neighbors won't care. lori: i know a lot of people who have rv garages. there is that. i guess where your priorities are and your preferred method of travel. melissa: there you go. i don't know. coming up tonight on "money," are we right to be suspicious of almost everything all the time? we were talking about this earlier. from reports of the bloomberg spies to the irs targeting specific groups i think our paranoia might be justified. what else should we be worried about? we'll scare the hell out of you tonight on fox business at 5:00 p.m.! got to watch after that. lori: encroachment is the eyebrow-raising to say the least. melissa: it is. lori: feels like we're exhibitionists whether we are or not. taxman is under investigation for targeting conservative groups. judge andrew napolitano says the legal penalties might be less than you think. he joins tracy byrnes and ashley webster next. stay with us.

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lori: so we have the mayor trying to insist what size soda we should be drinking. melissa: oh, yeah. lori: now his lp under the gun with serious snooping allegations irs targeting --. melissa: you think it is massive big brother. lori: our privacy certainly is being encroached on. i know you agree. you're calling it paranoia. melissa: i just think everybody who felt paranoid now feels justified. i knew irs was targeting people. i knew the computer was spying on me. right, tracy: don't forget health care. melissa: that's a great point of the just as we're turning over our health care. tracy: scary stuff. melissa: have fun with that the next hour. ashley: we'll take it from here. all the paranoia you could want. welcome back, i'm ashley

webster. tracy: i'm tracy byrnes. as we were talking about the irs is under fire. the tack man targeting conservative groups for extra scrutiny. president obama says it is outrage just. judge andrew natano says the agents involved might get off without prosecution. ashley: we'll talk with one straaegist who see as major pullback ahead. we heard it before. and yes, the bloomberg snooping scandal. the federal reserve and the treasury department want to know who had access to that confidential data, whether or not they traded on it. we'll have the very latest coming up. tracy: but it is top of the hour. so it is time for stocks and we head down to nicole petallides on the floor of the new york stock exchange. nicole, down 50, but you know, time for that pullback maybe? >> well we've had three straight weeks of gains, to your point, tracy. there are many traders who believe this market is overbought to a certain extent. however they are too nervous to try and short it.

i mean the only thing you may see is some people taking some profits off the table. but the truth of the matter is nobody is ready to short this market. they still think momentum is to the upside. you've had quantitative easing from the fed again and again. earnings season was pretty decent. right now the dow is down 54 points. i want to get to aeropostale, a name cut over at cowan today. saying projections are a little too aggressive. so as a result they did cut aeropostale. it has run up recently. in comparison to names such as abercrombie & fitch. zumiez, all somewhere in the middle. buckles up 7%. abercrombie, 11% and arrow pass stall up 15%. back to you. >> nicole, thank you. tracy: see you in 15 minutes. ashley: our first guest says it is not too early to prepare for a rude awakening. tracy: gene ma martin adams is wells fargo securities institutional equity strategist joins us now.

that is a lot to fit on a business card there. >> that is a mouthful. tracy: this whole, this sky eventually is going to fall. why doesn't it even have? why can't the market just keep going? >> it doesn't have to. there is a lot of indications to suggest. the factors are lining up to suggest we're in the midst of creating something near a top. optimism is near all-time high. we've seen articles how many advisors are optimistic, how many traders are optimistic, how many investors are optimistic. at the same time earnings are incredibly weak, set to potentially contract in the second or third quarter this year. first-quarter earnings season we saw a record number about companies actually miss revenue expectations. earnings come in about 1% growth ex-, financials, less than 1% growth. really slow earnings growth with incredible levels of optimism at the same time. those two things tend to conflict and ultimately create something of a top. ashley: so we have a disconnect between the surging stock market and the economy which is really just

sputtering along. thanks to the fed. a lot of talk now about the fed's exit strategy. >> yeah. ashley: whether they in fact have one and could it get ugly rather quickly? >> this is the concern. where is all that optimism coming from? it seems to come from the idea that the fed is supporting stocks no matter what. earnings can continue be to fairly ugly and the fed is going to be there. what happens when the fed goes away? that is the big key into the second half of this year. stocks tend to look forward. if stocks start to look forward in the second half of 2013 to the fed acttally removing stimulus or tapering stimulus in early 2014 that should remove that optimistic side. we hope earnings will come in, swoop in and fix all that is wrong. tracy: right, right. >> and sort of support stocks. i'm not convinced it will be that easy of a transition. tracy: to the confidence issue, cover of barron's right this weekend? >> right. tracy: more room to go. no one ever talks about the other side of the story. what if they actually do it

right? >> yes. tracy: what if the fed pulls thissoff? it will go down in the history books but then we're off to the moon with the market. >> possibly the fed could, quote, unquote, do it right, to quote you. tracy: right. >> however there has been short temperature moyle in the stock market every time the fed started to remove stimulus. even if you go back before qe. before qe create ad lot of distortions for the stock market. if you go back before qe you look at all the times the fed started to increase the target rate, the average decline is around 8% even in those relatively benign instances. with request qe. the instances, is 15 1/2. not just removal. the fed stops. that is enough to cause stocks in turmoil. we're expecting short term movement in stocks. ashley: gina, say, to, i'm a very conservative investor. i've been burned once or twice before. have i totally blown the fact i missed this rally? i just missed it as it went

by? >> i think there are still some opportunities in stocks. don't get me wrong. ashley: good. >> i'm not saying there aren't any opportunities. we've been promoting more defensive components of equity market. the areas where there is actually fairly staple earnings prospects, the health care and consumer staples are our two top selections through the year. tracy: that is countering what people are saying. they say health care is overbought. >> i think a lot of people try to pick their valuation turning.. ashley: yeah. >> they say these are too expensive, these are two cheap. what we find actually at least at sector level valuations trend over time and health care in particular not by any stretch of the imagination expensive. it did get a little overbought earlier this spring. a lot of that's corrected. i feel like that is a gift to investors. you have corrections in health care stocks. it is an opportunity to jump back in because there is real earnings growth there and payout to the shareholder. there is dividend growth, share buyback. tracy: as with utilities

still. ashley: all right. gene ma martin adams, thank you so much for being here. you're not a total pessimist. >> not entirely. tracy: can't be with that permanent ma smile. can't be a pessimist with that. we have to go with the latest on this budding scandal the irs. the taxman is admitting it targeted groups based on politics. president obama is weighing in on the controversy. rich edson on the story in washington. it shouldn't surprise anyone is you can't help say stop watching me is what you want to say. >> president obama is waiting for the results after treasury inspector general investigation. that report is due out later this week. groups applying for tax-exempt status involving tea party groups back in 2010. in july officials requested specialists be on the lookout for tea party applications. in june 2011, the director of exempt organizations

attended a briefing. on the agenda for that day was a discussion of identifying groups whose issues involved government spending and debt and taxes and those that have criticized how the government is run. and in january of last year, the irs began broadening its search of conservative groups. in his first remarks on the issue president obama said the irs's conduct is outrageous. >> the irs as an independent agency requires absolute integrity and people have to have confidence they're applying it in a nonpartisan way, applying the laws in a nonpartisan way. and, you should feel that way regardless of party. i don't care whether you're a democrat, independent, or a republican. >> and now more inquiries. chairman max baucus of the senate finance committee says the irs should prepare for a full investigation. a house panel is already looking into the issue. one lawmaker is calling for the irs commissioner to resign. senator marco rubio says if

investigations reveal bureaucrats or politicaa appintees engaged in unconstitutional or criminal targeting of american taxpayers they must be prosecuted to the fullest extent of the law. up next on this, reports, hearings and continued investigations. back to you. tracy: rich edson, thank you for covering this. we'll talk about this for a long time. ashley: we are as more details come to life. we're digging deeper into the irs scandal later this hour. fox news senior judicial analyst judge andrew napolitano. he will weigh in on the likely legal fallout. interesting developments on that. tracy: one analyst tells us whether fears about the payroll tax hike are totally overblown. first let's check out how oil is trading as we head out to break. oil down about 64 cents. 95, excuse me, and 40 cents a barrel. we'll be right back.

tracy: that time of day. we have to make some money with charles payne. he is here. he is looking to get you some profits with an internet security software and tech company. what is going on? >> you knows, guys, i like to do the high-risk stuff with you. ashley: bring that out in you apparently. >> you do bring that out with me. vernetix is one. names on the street that has been all over the place. wall street loves it and hates it at the same time. this company essentially is a company that lives and dies off with its patents. it has been involved with a lots of suits. microsoft, cisco and won a verdict against apple. they sign pretty good deals like a deal with siemens. they have a shareholder meeting next month. i thought, it is breaking a key resistance point. closing north of 22.50 is resistance point and

breaking up to 25. and short squeeze could get it to 30. i'm looking for this as a trade even though wall street analysts think next year will be a big year for revenue. earnings estimates have been creeping higher over the last three months. for me the volatile of the nature of the stock people watching for something that could pop it might be an ideal situation. ashley: although looks like it has room to the upside. >> obviously a lot of room to the upside. it has been up there on more than one occasion. because of the short you can tell wall street doesn't believe. tracy: what is keeping it down? >> lawsuits and inconsistent execution. it has been around since 2005. we know these areas that need security, you know, instant messaging, voice over internet protocol, that kind of stuff. some of these companies. a lot of these companies involved in patent lawsuits, those are big question marks. it is a little company that is going up against microsoft. seems like they won almost everyone of these battles. then the companies they sue goo to another court, another jurisdiction. ashley: that's right.

>> if i personally was a shareholder i would be happy when they get all the stuff behind them. meantime i like the way it is acting. i would use 21 as a stop-loss because of the volatile nature of it. ashley: that's okay. tracy: that's fair. charles payne, lawyers are behind the eight ball in the tech world, right? >> a lot of these companies have more lawyers than engineers. it is really speakss to the sign of the times. tracy: unchartered frontier. the. ashley: thank you, charles. it is coming up to quarter past the hour. time to check on the markets. nicole petallides as she always is on the floor of the new york stock exchange. i think she lives there. you're looking at a company to report earnings after the bell today, is that right, nicole. >> that's right. we're watching take two interactive reporting quarterly numbers as you noted ashley and tracy. the stocks is down 3/of 1%. not too far off the annual high of 16.6 but we're watching this one closely. mkm partners is advising

clients to buy calls thinking it has upside potential. september $17th20 call spreads on this videogame publisher. they think a strong game lineup for take-two combined with the stock recently breaking out above the $16 level which it is right now, they say, mk. in, it bodes well for the company in coming months for thesers shares. we'll continue to watch this one, it is not too far off its annual high. this will be one to watch going into the closing bell and we'll bring the numbers to you. back to you. ashley: that we will, nicole. we'll check back with you in 15 minutes. of course stay tuned to fox business for complete coverage of take two's earnings coming up on "after the bell" on at 4:00 p.m. eastern time. tracy: speaking of shopping, american shoppers boosted retail sales more than expected last month. next one analyst will tell us why he sees more good news for retail ahead. ashley: and the outrage over the bloomberg snooping scandal. we'll tell you who had access to what insider information.

that's next. but first, take a look how the u.s. dollar is moving today. generally it is stronger than most of these currencies except for the euro the euro trading up at 1.2974. but that is still below its 1.31 level of just a week ago. we'll be right back.

>> at 19 minutes past the hour. hello i'm gregg jarrett with your fox news minute. o.j. simpson is inside a las vegas courtroom asking for a new trial and seeking to have his armed robbery and kidnapping convictions tossed out. simpson is accusing his attorney in the case of conflict of interest and ineffective counsel saying his lawyer never told him there was a plea deal on the table. simpson has been behind bars in nevada since 2008. new orleans police released now surveillance videotape showing a public suspect in the mother's days shootings where 19 people were injured, three of them critically. officials are looking for three suspects but they're calling this attack during a neighborhood parade street violence and not at all terrorism. benghazi, libya, at least 10 people now dead after a car bomb exploded by remote control in a crowded area outside the city's main hospital. no confirmation of the

number of injured at this time. those are the news headlines on the fox business network. i'm gregg jarrett. now back to tracy. tracy: gregg, thank you very, very much. all right, american shoppers, boosting retail sales .1 of a percent in april. sales were expected to drop .3%. so has retail turned a corner? we'll bring in joseph feldman, senior managing director at the advisory group. thanks for being with us. it is not a huge percentage differential. but it is up as opposed to down. is that good? >> it is very good. it shows the consumer are out there and spending. they revised up past couple months as well.ore retail businesses are spending you know, many people, myself included thought the payroll tax was going to hinder shoppers and doesn't seem like it has. is it because we're building after hurricane sandy? what is isn't. >> yeah, you know we thought the same. i think like a lot of people

coming into this year we all thought the 2% payroll tax would have an impact. so far the data doesn't seem to indicate that. it seems that, you know, i think the wealth effect is actually taking over a little bit. asset prices are up, right? stock market has been up. it has been nice. it is sort of a good, positive, mood, house prices at the same time have been up as well. it makes it feel like the economy is getting better. the underlying trends are still okay. i think people feel comfortable spending in that environment. tracy: maybe they're sick of sieving. speaking wealthy the luxury market is not doing as well. you have to wonder when it wasn't cool to spend money they all went to tj maxx. maybe they realize the cheap is the new chic and they stayed there? >> that may very well be. you look at costco sales they continue month after month to continue to be high single digits. they post to and think cater to affluent consumer with

more value. think they're still spending just relatively not as much. you're seeing a little more strength in that middle to lower. tracy: you certainly are. speaking of which retail earnings just came out. you follow home depot which hit a 52-week high. what are you watching over the next couple days? >> everybody is really curious to see what same-store sales were like for the first quarter. obviously the weather comparison is really difficult. it is tear toughest comparison on a year-over-year growth basis. what we'll see is what happened in the quarter. if there is any bit of upside to the quarter that would be great. i think more people will be focused what they say about the future and next nine months of the year. which look like they're lining up to be okay. anytime we see pockets of strength in the weather, meaning warmer weather lately, sales have been terrific. tracy: would be amiss if i didn't talk to yyu about jcpenney, talk of a takeover, any other m&a be a activity coming up? >> in the apparel world ma

activity is being talked about but i don't know if we'll see it. in the luxury good space sometimes people want to add a jeweler or add a brand. tracy: right. >> we're not seeing a ton at the moment. there was a lot of activity last year. tracy: yeah, there most certainly was. joseph feldman, thanks for being with us. >> thank you. ashley: all right. here's a story getting a lot of attention. "bloomberg news" in hot water as it admits that its reporters. >>ed on clients that use hits terminals. the federal reserve and the treasury department are examining whether there could have been leaks of confidential information. with more on this story liz macdonald in emac's bottom line. liz, who else i guess was. >>ed on allegedly. >> ashley and trace good to be with you. this story is getting bigger. "the financial times" is reporting that the european central bank and germany's bundesbank are worried that they were. >>ed on as well. meaning "bloomberg news" reporters used the bloomberg terminals to access information basically that was looked at by officials over there. so i will tell you something,

this story i getting broader. so the federal reserve is already telling fox business's susan garrity in our d.c. bureau it is looking into this issue. we've got an apology too from "bloomberg news" editor matt winkler. he is essentially saying no specific securities were looked at, no assets or trading portfolios but the recent complaints relate to practices about as old as "bloomberg news" and reporters should not have any access to any data considered proproprietary. he is sorry they did. the error is inexcuseable. the question remains did bloomberg do a deep dive who exactly is using terminals and for what exact information? the other issue too they were favoring news edge over basically taking care of the confidentiality of the clients. this issue came to light only after goldman sachs complained about it. the question, was this widespread cultural practice? the issue is too, how do they use the terminals to locate sources for their own news stories? you know, they are saying they have disabled that function.

that they put in a new compliance sister. but this is put into -- compliance officer. this put into question and jeopardy, very important the bloomberg term nam business which creates nearly nine out of $10 of its annual revenue. this is a big deal story. go ahead, tracy. tracy: winkler pretty much gave an admission to it, right? they have known they have been doing this for the long time. there is function on that terminal lets you look for jobs too. i would think firms would be nervous about if guys are on there looking for jobs and somebody can track that. >> exactly. you know, issue you pay what, 25,000, 30,000, depending on terminal. tracy: yeah. >> you're getting tapped into and spied on by "bloomberg news" reporters. tracy: yeah. >> it calls into question and credibility and integrity of the operation. jpmorgan chase pr are upset "bloomberg news" reporters are using the terminal to track the london whale trader to see if he quit the bank. tracy: okay. >> that is one thing. goldman complained about it.

now central bank remembers saying. now u.s. government officials are weighing on it too. this story, we've not, i don't think, seen the end of it according to our sources working the phones. tracy: it is scary. you know every treasury secretary has a bloomberg terminal. >> that is an important point. ashley: emac, thanks very much. >> sure. ashley: interesting. tracy: everybody is watching us today. who else is watching us. one generation surprising the experts with its retirement planning and probably not who you think. gerri willis will fill us in next. >> irs is targeting conservative group. judge andrew napolitano will tell us why the agents involved might avoid prosecution. first we'll look at some of today's winners and losers. the dow is having an off day but there are winners on the s&p 500. have a look. we'll be right back. this is america.

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>> 90 minutes until the close, let's take a look at the dow 30, two-thirds of the stocks are in the red. jpmorgan chase and the bank of america on the downside with hp, hewlett-packard and alcoa. nicole petallides at the new york stock exchange. nicole: you were talking about laggers, but i'm going to talk about a real winner. tesla. this on the same day it hit another all-time high for tesla. it has been a real winner coming out with their latest numbers, actually posted a profit, it's first profit ever. the stock is up almost 11% at the moment but posted their first profit ever with great

numbers out of consumer reports giving them a 99 out of 100, their highest rating ever. last time was years ago for alexis, but obviously toting the tesla model which is why you are seeing the stock reflecting the profits and the positive comments from consumer reports. back to you. ashley: thank you so much. >> some members of generation y were as young as 13. at the height of the financial crisis only 13 years old. the new study shows they are planning for their retirement. gerri willis is here with details. gerri: on and dad did a horrible job, now they will be better. this is what a study found, that people have $55,000 saved for

retirement. i can'ttimagine at their age having that much money saved. even when you stop looking, prudential reported 21 to 29 are 91% of them participate in 4o1k. that is a huge participation rate. i thought that was great news. there they worries i'm going to grow up and be like mom and dad and be in debt. ashley: i am not getting mom and dad's inheritance, that is for sure. tracy: i think my mother is a baby boomer. they get squeezed on both ends. they took care of the parents at

the same time and put equity in their house. gerri: look at what they have done over their lifetime, saving was not at a priority for that generation. ashley: the house was their big savings. gerri: bad things happened to them along the way. and then we had what happened 2007, 2008. ashley: this is the generation that has beenwith huge college debt. the ability to save. gerri: to have been delaying buying a house, taking care of mom and dad. many say i watched mom and dad. ashley: they washed mom and dad while sleeping on their couch.

gerri: we will talk about this tonight, we cannot stay away from the story of the irs, i cannot help myself. just think that the people who are responsible for hooking up your taxes are worried about your politics. it is just too much to take, it is an unbelievable story. they want to know every living detail about you. tracy: watch gerri willis tonight, "the willis report," on the fox business network. ashley: thank you. oil closing down $0.87 pe $0.87. a loss of nearly 1%. the third straight drop of oil. still more to come, the irs scandal, judge andrew napolitano will tell us if irs officials violated the constitution and what the penalty could be.

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tracy: the irs admits it has e groups.

the president calls the scandal outrageous and says members of the agency that were involved need to be held fully accountable. what exactly does that mean? prosecution? i doubt anybody is going to jail. nor does and a napolitano whom i am sure is just as pe confuses i am. >> they use the irs to harass their opponents. in this one the irs admits it. senior management claims low-level people the more we learn, the higher up new about it. is it a crime for the irs to single out a class of applicants for tax exemption for more scrutiny and leave other applications for tax exemption less scrutinized? no. does it violate the constitution? yes, it does. can you sing the people out because of their political speech?

no. is it a crime for the government to do it? no, it is not. congress has written legislation senate can do just about anything they want as long as they don't conspire with taxpayers to chief the government. the worst that can happen is some will lose their jobs in the president would have egg on his face. does congress wants to make it unlawful for the irs to torment the government's political opponents? of course not. they each want to be able to do it when they are in power. ashley: it is unconstitutional, but there is no crime committed here. >> whoever spent more money on legal fees and accounting work and spent more time getting the applications through the irs because he irs did not like their political opinion, no, they can't, so the remedy here is really political. embarrass the president, to pressure the president, to fire

these people, to pressure congress for more transparency. this shouldn't happen. republicans shouldn't do it to their opponents, democrats shouldn't do it to their opponents. tracy: could that have been the crazy thinking before it started? let them do this, it isn't going to go anywhere at the end of the day. >> there are statutes that, nice serious misjudgments in office, they could easily arrest them. not so with the irs. ashley: how convenient. >> is that motivated by a desire to collect taxes or desire to use the irs as a political weapon? tracy: it is just heartbreaking.

again, the little guy loses. >> this cannot be justified for moral, political or legal point of view when anybody does this. ashley: it is business as usual. >> it is business as usual. both parties have done it. this is egregious because it apparently happened in an election year. much known by more than just low-level people. the irs has admitted his. more than they admitted to. tracyashley: if they tracked the story to the oval office, nothing can be done for the president. >> the constitutional remedy is impeachment. it is unlikely that would happen. it would require a majority vote by the house and prosecution in the senate. just like the clinton was off the ball while the monsters are plotting 9/11.

tracy: judge andrew napolitano. >> the matter what we talk about, it is a pleasure. ashley: thank you, judge. tracy: this week is upfront week when the networks unveil their new lineups. a bunch of shows are getting canceled. dennis kneale joins us now. dennis: the four major broadcast networks have now canceled 38 weekly series and they kill list likely will grow longer. 22 more shows await a ruling on their fate. more than 100 new pilots have been picked up in search of one that can do that next time around. the cancellation casualty list. comcast, nbc in last place among the big four has killed 16 shows, the most of the big four. the number one, cbs, has yanked seven. fox broadcasting yanking on the

four shows, the least. nbc's bidding farewell to "the office" and "30 rock." as well as "smash." "csi: new york" and rules of engagement, golden boy, don't trust the be an apartment 23, and how to live with your parents the rest of your life not such a good happy ending. fringe and cops, one of the first reality shows for something like 25 years, it may live on in new episodes over on spike. what is new for next season? disney abc has a marvel newcomer called shield and cbs picked up 6 pilots including a new one called "mom" from chuck lorre.

return of robin williams to the sitcom form. abc has a new series about a really old guy, dracula. ashley: vampires are everywhere. tracy: i haven't heard of even one of those shows. thank you, dennis. dennis: thank you. ashley: time for stocks as we do every 15 minutes. type the new york stock exchange, doreen joins us now. we had a guest who said get set for a pullback, customers have heard this for years now, but now there is talk the fed actually may be talking about tightening monetary policy. are you worried about their exit strategy and what might do for the market? >> i don't really think anybody is. it is hardly a bad thing these

days. most people are kind of feeling like it will happen over a period of time, probably not enacted until november, december if at all this year. are you looking at the glass half-full or half-empty? that may be bad because you're not supporting the market. some say that is good because we don't need them. personally i think the people will keep buying this market. i have been a bear for a long time. as you say, everybody is waiting for the pullback and it never came, i am convinced this is the only market people really feel comfortable with and they have to find returns on their money. ashley: i think you're right, thank you so much. >> thank you. ashley: the only game in town. tracy: it really is.

big news for currencies. currency expert telling us what it could mean for the dollar future strength. ashley: first, the winners and losers on the nasdaq. and we will be right back. i want to make things more secure. [ whirring ] [ dog barks ] i want to treat mo dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪

ashley: the young further weakening against the dollar with strong u.s. sales numbers, adding to expectations the fed for the pace of bond buying this

year positive for the dollar. our next guest expects the yen's lighting. joining us, senior currency strategist, thank you so much for being here, as he points out as we start to talk about the fed tightening monetary policy, that will be dollar positive starting to rise, the japanese central bank rising its course for the system, if anything we will see the gap continuing to expand. >> that brings up a number of factors. essentially they are not printing as many dollars in order to as much purchases as they have been doing that is a positive for currency meaning treasury yield should move higher a little bit and on the other side of the equation the bank of japan where they announced a large increase of the asset purchase program, the

purchases there can weaken the yen. ashley:' three have had the dollar surging, also some key currencies breaching technical levels in the last week or so. >> one of those is the australian dollar which we have seen that, australian dollar moving where it was bouncing around between 101, 106, nowadays below parity. the bank of australia, chinese data that came out overnight wasn't quite as strong as expected. ashley: almost in sync with the exports of the mineral rich resources, is that correct? >> the australian economy isn't exporting nation. lot of natural resources and that is was helping to keep the economy strong.

that will weigh on the australian dollar and one of the reasons they cut interest rates because of concern about growth not necessarily inflation, it is within their target range. ashley: just within the last week south korea cut in their interest rate, israel cutting the value of the shekel. everybody like if you're going to do it, why not. >> european central banks cut rates, reserve bank of new zealand said they are intervening because their currency is strong. the value of the currency is going to have an impact on exports but more importantly the global economy demanded, even in japan we are looking at the weakening currency will be good for the exports but at some point if it weakens too much, that will raise the price of the

imports and could potentially have a negative effect if the weakness doesn't boost the exports as much as it hurts the cost of exports. that will tie in more than the overall. ashley: what about the old beaten up euro? it still seems overvalued to me. >> it has been moving sideways because european central bank is indicated their willingness to provide support with the rate cut last week, with the consideration of doing positive race into negative territory. the fact they're willing to support the economy and we're seeing the financial stresses improved, that is helping the euro stay stable. ashley: strong dollar as we move forward. >> it seems like it is the best of the worst.

ashley: thank you so much for being here. not so good for the exporters, but always been safe, the currency to go to. no doubt. tracy: the dow was trying to climb back. coming up, what impact will the fed have a major u.s. markets once it finally gets out of the bond business? one money manager who says forget about it. don't sweat the fed, we will be right back. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one.

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♪ ♪ >> the waiting is the hardest part. when and what impact will the unwinding of the fed's massive bond-buying program have on the markets and the economy when it

finally arrives? our guest says forget the fed. this rally has a strong, independent streak. we'll tell you what it means for your money. plus, after the gold rush. meet the man who runs one of the world's largest and most impressive gold mining companies, and find out why he says gold will make a comeback. and let's do lunch. how much would you pay to have lunch or a private of coffee session with one of the following business minds: apple's tim cook, jack dorothy or howard schultz? and which ceo offers the best value for your money? you get to chew on that one, coming up. "countdown to the closing bell" starts right now. ♪ ♪ >> good afternoon, everybody, i'm liz claman. it is the last hour of trading. shaken, but not toppl