francis and lori rothman for a busy hour. lori: angelina jolie knocking white house off the top fold. we are going to keep an eye for the start of that press conference and go to it live as soon as it begins. i am lori rothman. melissa: i am melissa francis. lori: the irs catching the same amount of heat after documents show the chief knew about the agencies targeting tea party groups for about a year now. melissa: the u.s. oil bill leaving opec in the dust. signaling north american oil will signal growth over the next five years.

lori: jamie dimon considering leaving if he is stripped of the chairman title. melissa: a good day and wall street. let's head to the new york stock exchange. nicole petallides. nicole: a great day on wall street. it seems to be a real winning day. we are seeing action to the upside. we are seeing the s&p 500 up also. the nasdaq at the highest level since 2000. the vix, the fear index, just slightly to the upside. you can see how many of these names are up to and 3%. goldman sachs up 3.25%.

we are seeing transport with of arrows. retailers and drugs. let's also take a look at dell. dell was out to report its numbers. it will report its numbers on thursday. a lot of anticipation for these numbers. lori: so much news today. thank you, nicole. secretly obtaining the phone records. peter barnes is in washington with the very latest developments. peter: that is right, lori. we will hear from attorney general eric holder himself.

they are now calling on attorney general holder to resign because of the sweep of the ap phone records. ap is expected to announce that he recused himself from this case. he is expected to testify on this case tomorrow. he is now likely to face very tough questions from members of both parties on why the department secretly obtained two months of ap records. >> from what i understand, they kind of just went to the last option first. again, this is a pretty obvious effort to intimidate people. we will watch you. we will watch who you talk to. peter: now, some republicans are talking about a formal investigation that could be launched by the house judiciary

committee. lori, back to you. lori: thank you for that update. melissa: has washington gone too far? what could the legal ramifications be? are there, thank you so much for joining us. >> it comes right up to the line. i do not believe any laws have been violated by the issuing of these subpoenas. what we do not know is who issued the subpoenas. is this an initial investigation where a judge signed the subpoena or is this something that has gone before a grand

jury? people who are just normal, post up man school teachers, they were investigating. even if that is accurate, it is up to the prosecutors to keep their investigation narrow. it cannot be overbroad. there are 20 phones that were not tapped. melissa: it was what was the traffic. >> still unclear whether they were tracking the incoming calls. twenty phone lines, and an area where there are a hundred different reporters and editors. the bottom line is, what the editors are saying, and they are

right, you can look at this phone traffic, how we are doing our job, what our sources are and what we are relying upon. that is something that should only come out if there is a national security at stake. now, this is a huge thing that the attorney general will recuse himself. he wants to be involved in some way or another. when they are involved somehow, they know the party, they are involved. melissa: does that mean, to you, that he signed a subpoena? supposedly within the hour, we will hear that he is recusing himself. the american people deserve to know why the chief law

enforcement officer of this great company had to say i cannot be involved in this one. melissa: they are looking at -- you have to assume they are trying to figure out who the source is. twenty phones, though, that is a lot. >> ideally speaking, if someone is a threat to this country, you have to narrow it down. you would have to say we are going after melissa francis. you cannot say we are going after the fox business network. we are just looking at melissa francis and we are looking at her for people. the bottom line is, it will have what is called a chilling effect. reporters will watch who they call. it will be more like morse code.

melissa: as a reporter, it has gotten very dicey in this digital age. i have had people tell me do not e-mail me ever. people think text messages are safe. they are not safe. >> they definitely are not safe. melissa: we are hearing the press conference beginning right now with jay carney. >> i appreciate their attendance. i will go straight to the associated press. >> benghazi talking points, irs, justice department review of journalist, phone records and in every instance either the president or you have placed a burden of responsibility someplace else.

it has been the bureaucrats and on the justice department issued yesterday, you said that matters are handled by the justice department. it is the president's administration. i wonder the responsibility for setting tone, setting direction ultimately rests with the president on these matters. >> the responsibility to set tone and to focus on the parties of the american people is absolutely the responsibility of the president. you see and hear him do that every day as he fulfilled his duties as president. i think you have to separate these issues. if you look at the answers the president gave yesterday in response to questions about the clear political circus that benghazi has become and his response to questions about the reports, i think you see

something different. he made clear about the activitf irs personnel proved to be true, he would find them outrageous and he would expect that appropriate action be taken. and that people be held responsible. he has no tolerance for targeting of specific groups, conservative groups, if the reporting is true on this. he would expect action to be taken. this is a matter of when it comes to the irs that is under review by the independent inspector general. we have not seen that report. it is our understanding that it's release is fairly imminent. once we have that report, we will be able to assess the next steps. at this point, we have to wait for the action of an independent investigator, if you will, the inspector general, before we can

jump to conclusions about what happened, whether there was a deliberate targeting of groups, inappropriately, and if that is the case, what action should be taken. you can be sure, and i would point you to the president's response yesterday, what his feelings are about this kind of action, if it in fact took place. on the issue of what is a department of justice investigation, as i understand it, you know, the president is a strong defender of the first amendment. he also, of course, recognizes the need for the justice department to investigate alleged criminal act to but he without undue influence. as i said yesterday in my statement, other than press reports, we have no knowledge of

the associated press. we are not involved at the white house in any decisions made in connection with ongoing criminal investigations, as those matters are handled appropriately by the justice department independently i understand there are a lot of questions about the reports about the doj's actions. for my background, i understand them well. in this situation, it would be inappropriate for me to have answers to those questions. i have to refer you to the department of justice. >> the president did use the word if. [inaudible] >> they have spoken about this.

they obviously have much greater insight about what took place then we do. we have not seen the report. we have not independently collected information about what transpired. one persons view of what actions were taken or what that individual bid is not enough for us to say something concretely happened that was inappropriate. if you look at what has been said, the actions were inadvertent or not or constituted something that was specific and inappropriate or not. what we have to do, responsibly, is wait for the independent inspector general's report to be released before we assess next steps. again, if you look at what the president said yesterday, he was very clear, if there was specific targeting of groups, that would be outrageous and

would require, in his view, action be taken. >> would there be something that the white house would do? >> i think you have to wait and see what the next steps are. we have two wait for what the ig assesses before we can decide what next steps may appropriately be taken. >> senior tax officials may have known about this extra scrutiny since 2011 which means during the election and this was withheld until after the election. should the white house have been informed earlier? >> my understanding is when there is a review by an inspector general, the process

is nearing. the report is about to be informed. a notification is needed. prior to that, there was no knowledge here at the white house. now, before i make judgments about whether, you know, the white house should have known more or others in the administration should have known more, we have to figure out what exactly happened. that is why it is important to wait for the report. >> did you have any concerns that this was withheld when -- >> we have serious concerns about what has been reported. i think you can see that and what the president has said. we have to make sure that the independent review of this is revealed and we can assess that and assess what actually

happened, what motivations were behind whatever actions were taken and then decide what action is appropriate and who should take it. >> when did the president find out? >> yesterday. he found out about the news reports yesterday on the road. i cannot and he cannot comment specifically about an ongoing criminal investigation or actions that investigators at the department of justice may or may not have taken. it would be wholly inappropriate. you would appropriately ask why and is that correct procedure, because it would not be. i cannot comment on the specifics of that. i can tell you that the president feels strongly that we

need the press to be able to be unfettered in its pursuit of investigative journalism and use all the president cosponsor legislation that would have provided further protection for journalists in this regard. he is also mindful of the need for secret and classified information to remain secret and classified in order to protect our interests. there is a careful balance that must be obtained. i think it is important to look at the presidents past to understand where he comes from. we simply cannot comment on the specific investigation. [inaudible question] >> i don't have a reaction for president obama. people who make those kinds of comparisons have to check their history.

what we have here with one issue and benghazi is so clearly, as we are learning more and more, a political sideshow. the president feels very strongly about that. you heard him address that yesterday. on the other issues, these are things that we are finding out about and we need to wait, appropriately for independent action to be completed before he can, in any way take action or comment specifically on it. i think it is a reflection of that, you know, sort of rapid politicize asian of everything that you have that kind of commentary. everything becomes, you know, a huge political issue when, if you look at the facts, and i think benghazi has been in this. the reason for americans died

and we need to do everything we can to find out who did it. we need to find out why and take the steps necessary to ensure that our diplomatic personnel are what this country needs. that is what he spent his time focusing on. that and the paramount interests of protecting the national security of the united states. you have to understand how it may sound like the administration may be hiding something. can we take these things one at a time. the irs on friday gave one version of the story. does the president believe that they are being truthful and does he think that the leadership there needs to change. >> i do not understand how that tracks with your first sentence.

if the reports are true, he would consider them -- >> the president and this administration could agree. >> if it turns out to be the case, and, again, there is a lot of reporting. not all of it complimentary. some of it contradictory. >> we have now learned that -- >> how could the irs be isolated, that could be the entire agency. >> is he concerned that this is a broader problem. >> he is concerned but every report that he sees on this. that is why he looks forward to finding out what the ig report says and then deciding what next steps need to be taken into needs to take them. instead of rushing to conclusions or, you know, perpetrating consequences,

before we even know specifically what happened and the whole story, would be inappropriate for a president to do. again, he make clear what his view of this if there was specific deliver it targeting of groups and appropriately, he would be outraged. he finds the suggestions of that to be outrageous. we cannot and we should not prejudge. >> what are the consequences of that are rich? >> we will see. how can you possibly say that when we do not know what the facts are. shouldn't we let the facts be revealed by this independent inspector general report before we make some conclusive judgments about what actions need to be taken. >> we understand that you cannot get involved with a leak investigation. it is a legal violation and legal issue.

this involved multiple months, all the bolt locations, many phones, is the president at all concerned about the threat of the investigation, about the threat that the doj is using. >> what i can tell you is that this president believes strongly in the first amendment and is a strong defender of the first amendment. he also believes strongly, as a citizen and as president in the need to ensure that classified information is not leaked because it can endanger our national security. it can endanger people around the world. i cannot and he cannot appropriately comment on specifics of an ongoing

investigation for the reason that you yourself just raised. you listed the specifics of the investigation. >> is he concerned at all with the president that this is setting. >> the president absolutely arrival in this office when he was a senator and cosponsored legislation that would enhance protections for the media. the principles that are behind that effort are one that yield to this day. i cannot then take that to a specific case that has been reported in the press. if we learned about it any other way, it would be inappropriate can you say categorically that nobody at the white house had any knowledge or was involved in

any way in the targeting of tea party groups by the irs? >> yes. >> absolutely not? >> >> we found out about this, or at least the council office was notified about this very probably just a few weeks ago. beyond that, you know, we learned about everything we know about this from what we see in your reports. that is why we have to wait for the inspector general's report, before we can assess, based on that but we know about what happened and what did not. what action should be taken and then decide what the next steps should be that are taken. we will have to see what the report includes and what else needs to be done to find out, if necessary what happened. the re ones, but if it is true that there was a knowing effort to target specific

organizations, as that would be outrages in the president's view and there should be consequences. >> does the president approved on the idea of prosecutors going through the personal phone records and work phone records of journalists? >> i appreciate the effort to generalize that, but iaight to e point. the press has a rule and needs to be unfettered. i cannot respond to this and specifics. you know, i am very understanding of the questions on this issue and appreciate the nature of the questions and i

think they go to important issues and they go to the fundamental issue of finding the balance between, when it comes to leaks of classified information of our nations secrets, if you will. this is a balanced president that believes it's important. how he views these issues can be seen in the actions and things he has done in the past. i simply cannot get into the details of our view or his view of it. >> last question, is all of this, all of this swirl of controversy and stories affecting the president's ability to pursue his agenda? >> the president is focused on

what he believes the american people expect from him and from their leaders in washington. you have seen that and you will continue to see that in the days and weeks and months ahead. overwhelmingly, americans are concerned about continuing the recovery out of the worst recession since the great depression. building on the job creation that we have seen, continuing to expand and make more secure the middle class, taking the necessary steps to invest in our future so that our economy can grow later. that means bipartisan cooperation or innovation in the kind of investment that the president talked about in austin last week. these are the issues that he focused on. they include comprehensive immigration reform which he is constantly discussing with

leaders and members of congress. a bipartisan effort that he believes can and should produce a law that he can sign that reflects the principles that he has laid out a long time ago. there is a lot of work to be done. he is focused on that work. melissa: that is white house press secretary jake carney in front of a once friendly press corps, now quite hostile. the first question coming from the apr there. the first question from the ap, the reporter saying in all of these scandals, they are talking about benghazi or the irs this is republicans and apolitical service. if the reports are true, now with the ap saying, we have no knowledge of this.

it is an ongoing investigation. the ap eporter saying out at some point -- i heard jay carney say no. is this the thing you would say to someone who is on the defense? >> that is why i am smiling from ear to ear. is this what you would say? of course. you come up with a strategy to go on the offensive even though you are on the defensive. clearly, the word of the day, originally, he was reading the statement about the associated press. we also have a term in the criminal law field. you admit what you can't deny it and you have to admit what you cannot deny.

they cannot deny it. things that they know. things that are obvious to them. they cannot admit we knew about the irs. they cannot admit we we lied about benghazi. that would mean suicide. this is a tremendous problem. you can survive benghazi. you can survive the irs. you can survive the ap. when i have a criminal defendant who is originally charged with robbery he is clearly taking the let's wait and see. it is a huge problem. this could be the end of eric holder.

it is that big of a deal. it could be the time where the president called him and it says you have done a great job for me. thanks. melissa: through it all the market actually rose. let's pivot back to the stock market. we have breaking news on dell. the dow is approaching a 100 point gain right now. nicole petallides has been on the floor of the new york stock exchange. also i imagine listening to press secretary jay carney. i do know, nicole you want to bring the latest on dell because it is moving markets. >> we're finding out from dow jones what numbers dell is expected to report, we're hearing first about earnings per share of 20 cents, versus the 35 cent analyst estimate. that looks like is it will be below. operating income of 600 million. back to you. lori: nicole, thanks so much for that. again the dow is up, markets are rallying today. we'll be back with more after this. everyone's retirement dream is different;

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melissa: north america american oil production will dominate worldwide supply growth over the next five years. that is the word from the international energy agency, all thanks to the rowing production from fracking and other technologies that access once inaccessible reserves. the latest forecast marks a shift in the iea's latest thinking. fox business contributor phil flynn of the price futures group is in the trading pits of the cme for us where i imagine announcement like that doesn't necessarily impact day-to-day prices but certainly does over the long term in a big way. >> no. but you know what? i'll tell you, melissa, it has been impacting prices over the last couple months. we're seeing it in gasoline prices. we're seeing it in oil

prices. we're seeing it in the brent-wti spread coming in dramatic the last couple weeks. we're hearing from the international energy agency which normally is conservative type agency sending out words sending global shockwaves to the global marketplace, a global supply shock to the world. it is amazing how the world changed in the last couple of years. think of this. you know, the north american, north america will exceed opec for production growth over next five years. we'll have 40% production growth compared to opec 30%. that comes at the same time we're seeing demand in china start to slow down a little bit. so really what's happening with the shale gas production is having positive ramifications, not only for the economy, but for global politics as well. now if i was opec right now i would not be sleeping very, very easy. if they don't hurry and change their economies very quickly, there will be a lot

of pain in the middle east. that could be a problem for another day but today, a positive story for the u.s. energy industry and big oil, helping out the economy. back to you. melissa: yeah, that's a great point about the opec nations we were just looking at on the screen there. economies so dependent on oil revenue which seemed like it with go on forever as the dominant force. phil flynn, price futures group, thanks so much for joining us. >> thank you. lori: so the major averages as we've been reporting and following all day long in the green after pulling back yesterday. why else? here the fed will start slowing down its bond buying stimulus. david joyce, ameriprise financial chief market strategist, he says stay invested. u.s. equity markets are the place to be. a lot of people are singing that song, as you know, david, but you warn there are cautionary signals to be worried about. i would like to start there if you would. >> yeah. fit of all it is awfully i think it is fair to say evaluations are still

reasonable, but a couple of warning signs. one, you know, the first-quarter earnings season pretty good but revenue growth was flat. guidance was very downbeat for the second quarter. in addition we came out of the first quarter with a little bit of softness in the economy. we may be able to get through that but at the same time we've had some weak data out of europe and china terms of industrial production. so this general expectations that we're going to reaccelerate globally in the second half i think is the right call. but we haven't seen a lot of tangible evidence of it yet. lori: what strong evidence, david, sorry to come in here, but i know you have a keen eye on rotation into cyclicals. so what would satisfy you in believing that this rotation out of defensive names into cyclicals is sustainable? >> well, i would like to see a little bit more improvement, number one, in europe. it is my expectations that you will see some of the headwind from austerity begin to slow down, leading indicators are suggestive of that. we haven't seen any real

tangible improvement. that's number one. number two, maybe even more importantly, i would like to see some firmness out of china. they slowed down in the first quarter. expectations are they will slow down in the second quarter. they're the marginal consumer of a lot of the cyclical materials, and industrial goods and so forth in the world. so i would like to see a little more tangible evidence of it he about i think this is sustainable, this rotation. lori: you still prefer u.s. markets even though some of the overseas markets, europe, people are starting to find options in europe at least cheaper at this juncture? >> i think that's right. so what i would say have some exposure to europe, have some exposure to emerging markets but still be overweighted in the u.s. first of all we're growing. a lot of these other places are not. lori: okay. >> i think the fed is still going to be aggressive for at least a few more quarters. lori: david, thank you for joining us. obviously a busy news day. we'll have more time next time, i promise. >> you're welcome. melissa: charlie gasparino

broke the story first, jpmorgan chief jamie dimon is considering leaving if he is stripped of his chairman title. charlie is back with exclusive new details mapping out how it all may play out. we'll be right back. i'm so glad you called. thank you. we're not in ldon, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when peoplealk, great things happen. [ female announcer ] when peoplealk, all stations come over to mithis 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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$3.58. that is up six cents in just the past week but still 15 cents lower than a year ago. >>. >> clorox is boosting its quarterly dividend to 71 cents a share. this marks the 36th straight year the company increased its payout. the dividend will be distributed august 9th to stockholders on record as of july 24th. passengers shelled out more than $6 billion in baggage and reservation change fees last year alone. that is the highest amount since airlines started charging people for checking luggage back in 2008. these luggage and change fees helped u.s. airlines to return to profitability. that is the latest from the fox business network, giving you the power to prosper.

melissa: so will he stay or will he go? that is the big question on

investors minds as key shareholders vote approaches possibly leaving jpmorgan chief jamie dimon to relinquish his job as chairman, maybe ceo as well. charlie gasparino has the exclusive details. >> i reported this out thursday i be i was at the conference when fox business network was the first to report that jamie dimon was at least telling friends this might be the end. he might step down from both. he wasn't ruling it out. it has been a picked up and a life of its own. we've seen in other major newspapers following our report. i want to give this a little perspective. i think it bears noting this is the biggest bank, most systematically important bank, 2 trillion in assets. getting the story right is very important. jpmorgan, this all instigated by this vote on tuesday that would split the chairman and ceo job. jamie dimon thinks he would be a less effective leader if you split the two roles. you happen to agree with this. worldcom they split the two roles. it takes focus off the your job at hand.

why are they splitting two roles? because of the london whale trading loss and other scandals. jpmorgan is a big bank. a lot of stuff happens at the big banks. even with the london whale trading loss they made $20 billion. inside jpmorgan they believe they will win the vote. that's what they believe. they come to the conclusion. i think initially they thought it was close. i think what they're saying now, what the general feeling is, this is what they feel, i'm not saying this is what's going to happen. they feel it will be close but dimon will retain both roles. they basically say that major shareholders have not made up their mind just yet officially. blackrock, fidelity, t. rowe price, i think those are the major shareholders. they will make up their mind on friday and monday but based on what they're hearing they will likely win their votes. they very the -- voted for keeping the role together the last time last year. melissa: 40%. >> 40% this year. we should point out if larry fink's blackrock would back

sort of a split role, you would ask yourself, larry fink, why are you out there with a combined role? there is an issue here. here is the interesting thing. what happens if he loses, still a possibility? like i said thh vote will be close. melissa: it is a genius move to say take all or nothing. share holders would want that. >> he didn't quite say that here is what is logical. when you talk to friends of his he is not quite a bluffing guy. friends of his tell me is really serious when he might leave. melissa: i believe that. >> here is how he will do it. he won't leave them in a lurch. what you're likely to see, maybe not that day or some period of time, jamie dimon sort of announce when he will leave the bank at some future date. he will groom a successor and that he will limit his time. i think a lot of people thought three to five years where he will stay with the bank. he was never really specific. i kind of nailed him down on an interview once he kind of suggested to five years. no one ever really nailed him on a specific date but i

think you will get now is jamie dimon saying i will leave in couple years. that's what i've been told and i will groom a successor and that successor will have a chairman/ceo split. that's if he loses. he will not leave immediately. that is a key point. we should point out jpmorgan without jamie dimon i don't care what the shareholder activists like these unions who aren't really shareholders. they're political, a lot of them are politically oriented, they should know when they vote him out, if they vote him out the stock will go down 10 to 20%. they're hurting themselves. why is that? melissa: mike mayo out quantifying that today. >> i'm throwing stuff out there what i'm hearing. i did not know that. the interesting thing is, that if you talk to regular shareholders, they kind of, they do support him maintaining both roles. melissa: yee. >> a lot of people point out, i mean there may be political pressure that forces him to move in the other direction. we should note that larry fink, very closely associated with the obama administration. we should point out if they

do break up this role, this will be a one of the biggest stories of the year. melissa: without question. >> they didn't break up goldman sachs but they broke up jamie dimon. melissa: charlie gasparino, great job as always. thanks so much for your reporting. lori: okay. the irs targeting conservative groups, how did it happen? congressman michael turner is up next with what he is doing to stop it.

melissa: breaking news right now. attorney generally eric holder confirming fox news reporting that he recused himself from the ap investigation. we'll bring you the very latest as we have it. lori. lori: meantime congressman michael turner says discrimination by the irs is unacceptable and he is taking action. the republican from ohio

introducing legislation yesterday that would criminalize irs bias. congressman turner we're pleased to welcome you to our show. >> thank you. lori: earlier we heard this hour from press secretary jay carney on, just give me your thoughts. i can't imagine you're satisfied at all at this point with how the president and the administration is handling this and a whole host of other questions today? >> absolutely. what you basically have here is an investigative arm of the government being turned on our own people based upon their political beliefs. that is the type of action that puts democracy at risk. it is essential we get this right and we prevent this from happening again. my bill would make it a felony for irs agent to target based on religious views or or relidge political beliefs to target a taxpayer. if a supervisor goes into employees's office, suggests they do this, know they could go to jail up to five years and have a $5,000 penalty. lori: but here's the

question, can't an irs supervisor already fire another irs worker for doing those exact same things? i know you're looking to tighten the penalty but if there is already that in the rule book, if you will, how far up the chain of command could this go and is it feasible there for? >> that is just it. the american public certainly sees that's not enough. when the irs apologized people were aghast that people within the irs would have that type of power. we want to make sure certain they're held accounttble. if you have a issue of someone could be fired for it. if your supervisor is telling you are not afraid to be terminated. lori: congressman, i apologize. we have to get back to the press conference. we want to get back to attorney general eric holder who is giving a press conference right now. >> get for you the exact i don't know when that was. as i said it was because i was one of the people who had knowledge of this matter, i have frequent contact with the media and so i tried to make sure that this

investigation was seen as one that was independent and to avoid even the possibility of an appearance of a conflict, i made the determination to recuse myself. >> are you -- [inaudible] >> on the irs controversy, is there any concern that, from the irs controversy, is there any concern that criminal laws have been broken, and if so have you ordered an investigation? >> i have ordered an investigation to be begun. the fbi is coordinating with the justice department to see if any laws were broken in connection with those matters related to the irs. those were, i think as everyone can agree, if not criminal, they were certainly outrain just and unacceptable but we're examining the facts to see if there were criminal violations. >> when did you order that? >> [inaudible]. >> are you recused from the investigation out of maryland? >> i'm not going to comment on that. >> attorney general holder with irs and ap situation, a

lot of americans say they don't trust the administration right now. what do you say to them to assure they can trust all of you? >> to the extent that we have determined that actors in government have go beyond what they were supposed to do, broken regulations, broken rules, broken the law, we have prosecuted people. we have held people accountable. we hhve tried to do things according to the rules. there are going to be people occasionally who will not do so. it is then incumbent upon us, upon us who have enforcement responsibilities to make sure we hold those people accountable. i think our record shows over the last 4 1/2 years we have done that. >> attorney general holder, the regulations require subpoenas to be drawn as narrowly as possible. do you believe in this case, whether two-month period of 20 different phone lines is that your view of a narrowly-drawn request? >> i would refer to you the deputy attorney general written a response to the ap letter.

i don't know if it has been made available yet. that has a number of factual assertions in it that contradict some of the assertions made by the letter that came from the ap. so i would refer you to that with regard to response to that question. >> taking together the ap story, the irs story, failure to close guantanamo, there is growing consensus this administration record on civil liberties have not lived up to the promises you and others made beginning in 2008. and criticisms of the past administration. looking broadly at this administration's civil liberties record, are you disappointed and, and why hasn't more been done? >> i'm proud of what we have done. the policies that we put in place with regard to, let's say the war on terror, we decided that certain interrogation techniques were not going to be used. we have been, i think very

aggressive in our enforcement of the civil rights laws. there have been a whole host of things that this administration has done, this justice department in particular that are consistent with what i think the president campaigned on and what we promised at the beginning of this administration. >> [inaudible]. those changed during the last administration. the president signed an executive order that effectively continued what already happened. you mentioned civil rights laws but there are some other examples where people are disappointed in this administration's civil liberty's record on the left and on the right. do you need to change course? are you focusing on civil liberties the same way the bush administration was? >> no, we're not. this administration put a real value on the rule of law and our values as, as americans. i think the actions that we have taken are consistent with both. if one looks at, in a dispassionate way, what we have done in a whole variety

of areas, we have, i found a more abundant -- moribund civil rights division. that is a civil rights division that has brought record numbers of cases, protected record numbers of people. i would take issue with you with regard to how we have conducted the war on terror and with regard to interrogation policy. there were changes made by that administration. a repudiation of opinions that existed when we came into office. we're talking about i think changes that were consistent with, as i said, what the president campaigned on and what we talked about early on. keri. >> expressed some concern about lack of transparency with regard to the administration drone program, and promised more transparency, what are you going to do about it? >> we're in the process of speaking to that. i made a promise, that is a promise i think will be kept, both by me and by the

president in a relatively short period of time. we have a rollout that will be happening relatively soon. >> mr. attorney general, the phone records in the ap case, the notification spoke to phone records because the justice department internal regulations speak to phone records. those regulations don't speak to e-mail records. based on briefings at time or now it has all come out, can you say whether journalists e-mail records, including contents of e-mail records that may have been older than six months were accessed as part of this investigation? >> again, you would have to refer to the letter that the it actually, i think, from, what i understand, i have only seen it in draft form, but it is pretty specific about to times, dates in which things were acquired and what actually was acquired but it is all in the letter that the deputy attorney general sent back to the ap. >> this is the first time we've had a chance to speak since you since the boston marathon bombing.

any evidence so far that the a tacks, the attackers received some training and or support from russia? >> that investigation is ongoing. i don't want to comment too much on it. i will note that the fbi director was in moscow last week. we've gotten good cooperation from the, from the russians but, we're exploring everything, in connection with that matter. >> was ap the only news organization that got the records subpoenaed? >> again, i, that will be for the deputy attorney general and the u.s. attorney to respond to. [inaudible] >> can you say whether as a general matter it's possible to conduct a thorough investigation of leaks of classified information that appear in the media without taking some of these investigative steps like pulling phone records or interviewing people -- >> well the department of justice regulations say you have to exhaust all of the other

possibilities before you engage in interacting with the media. and so it is possible to do investigations in that way. but each investigation is different and, as i said, i'm confident knowing the people here, but not not knowing the facts the decision to do what they did here was consistent with their having exhausted all the other possibilities. >> how many people within the department had to be recused, also include the fbi director since he was also interviewed and lisa monico and give us totality what happened at the same time? >> i don't know, i think i'm only person who was recused. and i did so as i said out of an abundance of caution because i would have been the person leading the investigation and it seemed to me that having been interviewed, having knowledge of the matter and interacting with the that it just seemed to me

probably better for me to step out. >> on the irs -- >> you had a strongly-worded defense of using the federal court system in terrorist cases this weekend at cal. you expressed a lot of regret how guantanamo ended up. as your desire as we move into the second term to transfer prisoners back to the united states to send people through the federal court system? >> i certainly think we ought to use our federal court system. it is proven to be effective. we can convict people charged with terrorist-related offenses. also a place where we can get valuable intelligence. what we'll try to do is close guantanamo. the president indicated it is too expensive. it is a recruitment tool for terrorists. it has a negative impact on our relationship with our allies. so we'll make a renewed effort to close guantanamo. >> appointment of a new senior official at the white house or else to work on guantanamo issues? >> we're in the process of looking at that now.

we're looking at candidates. >> attorney general candidates? >> yeah. >> why was the ap case different than other leaked investigation that y'all have been involved with? i know you're not managing this investigation per se but, you described this as one of the top two or three. what made this different in your estimation? and why did it require such an extensive sweep of material? >> well, the sweep, i'm not sure about. again, i don't know the facts there but i do know enough about, you know, what was compromised as a result of that leak and, on the basis of that knowledge, that gives me the ability to characterize it as a, as serious a matter as i said it was. >> last question. >> on the irs matter, what statutes potentially may have been violated? >> we'll have to get you, we'll have to get you that. there are a variety of statutes within the irs code that i'm not familiar with

or have the ability to, you know, give you the numbers to but that we have looked at. in addition there are other things in title 18 we'll be looking at as well. >> boston and benghazi and irs and this, seems like the fbi is involved in a lot of stuff. only a few months left until mueller's tenure is over. wondering if you have an update for the search for a new fbi director since you're a major mart of that? >> that process is underway and we're in the process at least amongst ourselves about people. i reached out and talked to some of the candidates. that process is underway. >> all right. thank you very much. thank you ashley: there you go. attorney general eric holder recusing himself from the ap investigation. and he recused himself from the irs investigation, whether they targeted political parties, ie, lots

to discuss. let's get back to the ap story. peter barnes has the latest. peter. >> you heard from the attorney general. he said he had recused himself last year from this ap case because he was interviewed by the fbi about it. felt if he oversaw that investigation, as the attorney general, that would be a conflict of interest for him. so he turned the whole thing over to his deputy james cole, who is the one who signed the subpoena then for the ap for these phone records. the u.s. attorney in washington, d.c. has been conducting a criminal investigation into who may have leaked information contained in an ap story in may of last year about a foiled terrorist plot. this is what the attorney general said was very, very serious. one. top two or three plots he has ever seen and the administration today defended both the media in this case and the justice department. >> you know the president is a strong defender of the first amendment and a firm believer in the need for the

press to be unfettered in its ability to conduct investigative reporting and facilitate a free flow of information. he also of course recognizes the need for the justice department to investigate alleged criminal activity without undue influence. >> so we heard the justice department press corps there. well tomorrow congress will get its turn with holder. he is scheduled to testify at the house judiciary committee. this was previously-scheduled testimony on law enforcement matters in general. now looks like he could face very tough questions from members of both parties about this case. he might not answer any of them because he recused himself from the case but you can expect a lot of tough questions from both democrats and republicans. ashley, back to you. ashley: interesting. peter barnes, thank you so much. appreciate it. tracy: all right. now the other big story of the day, we have new developments in the irs targeting of conservative groups. rich edson is in washington, d.c. with more.

rich, we just watched the press conference with jay carney. he didn't say a whole heck of a lot. >> no he didn't. lawmakers are asking repeatedly whether the internal revenue service was applying a higher level of scrutiny to conservative groups looking nor tax exempt exempt status. each time irs officials failed to reveal how focused they were on the groups. a report says they were and began doinggso in 2010. commissioner douglas shulman and deputy acting commissioner steven miller found out about the targeting of conservative groups last may. the white house has few answers defering instead to a inspector general report due out this week. >> if it is true that there were, there was a knowing effort to target specific organizations as reported, conservative organizations, that would be outrageous in the president's view and there should be consequences. >> still the irs admitted it friday and the acting

commissioner of the irs acknowledged this morning in "usa today" that mistakes were made but they were in no way due to any political or partisan motivation. we are and will continue to be dedicated to reviewing all application for tax-exempt status in an impartial manner. republicans are calling for a sweeping investigation. >> i'm calling on the president to make available completely and without restriction everyone, everyone, who can answer the questions we have as to what's been going at the irs, who knewwabout it, and how high it went. >> democrats are also demanding investigations including the senate finance committee chairman, the house ways and means committee holds its hearing on friday. back to you. tracy: rich edson, a lot going on down there thank you, sir. let's keep talking about this irs scandal. we're joined by republican

congressman tom graves of georgia. congressman graves questioned irs commissioner douglas shulman back in march 2012 about these very allegations. shulman denied any wrongdoing. now of course reports coming out senior officials at the irs knew that these conservative groups were being targeted as early as august 2011. so the question i guess, sir, who knew what, when, how? did you believe mr. shulman? you know i talked to him in the past reporting on tax soreries. hard for me to believe the guy up top doesn't know what is going on. >> that's a good point. you would think that if your senior aides or advisors or staff knew of this seven months prior to being asked a question he would know that as well. now when he, offers assurances that no, in fact this is not occuuring you sort of have to take his word for it. that's all you can do. in fact this report coming out is shedding light what we suspected was going on and the question today is, did he lie intentionally and who made the order? who made the call?

that is what the american people really frustrated about right now. that the power of this government is being used against political opponents and what involvement did the administration have or not have in this? those are questions we'll be looking for in the days ahead. ashley: congressman graves, using the irs as a political weapon certainly nothing new. goes back, you could argue all the way back to fdr, kennedy, nixon and so on. it may be unconstitutional but it is probably not criminal. what kind of remedy would you like to see in this case depending on what it reveals? >> well, first of all if there were criminal acts they need to be held responsible. we all know that and we agree with that. the president said if something happened then it is outrageous and there, responsibility will be taken for it. it is not a question of. it was admitted to and a apology was given last week. something did obviously occur. what can happen in the days ahead? one, i don't know why no one has been let go. there, no one has been fired. no termination has occurred.

the same people who did this over the last two or three years are still in place today with the exception of the commissioner himself who resigned last november. so it's a matter of cleaning out the irs and restoring the public trust for the american people. tracy: but you know, our very own liz macdonald has done so much research on this. she makes such a valid point it is only agency where you're guilty first until you're proven snnt. the irs has so much power, even though administrative mess, it has so much power. is that part of the problem? >> that is a huge part of the problem and they're exactly right how it is portrayed. if you were to receive a envelope in the irs today you're guilty until you prove your own innocence. tracy: so true. >> probably the solution, those applying for statuses who love their country, teaching the constitution, put some of them in the charge of the irs and then there would be more fairness and democracy could be restored and trust put back in place. i think it is a matter of cleaning house, starting over. but the question who made the call, who was responsible? this is so reminiscent of

1970s with richard nixon using his power and his influence and his subordinates to punish political opponents. tracy: i apologize. we have had so much breaking news we're out of time. keep up the good fight down there. >> thanks for having me. ashhey: so much ahead on this busy news day. stocks on a record push. 65 stocks on the s&p 500 hit all-time highs today. the very latest from the new york stock exchange is coming up next. tracy: plus the national federation of independent business chief economist bull dunkelberg says small companies are more confident but they're still not growing. he is coming up next. first, take a look how oil and metals are trading as we head out to break. your dow is up 92 points. oil down about a buck. we'll be right back. you hurt my feelings, todd.

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time for the stocks going strong again today. let's go to nicole petallides on the floor of the new york stock exchange. nicole, the dow is just off the highs of the day. >> it is pretty impressive here, ashley and tracy. the momentum continues. the bulls on wall street who were watching momentum. you're seeing it continuing. that is really, despite the fact so many said this was an overbought market and really should pull back, they're just not expecting it. nobody is shorting the market, right? >> you see the market, dow jones industrials traded as high as 15,192. not too far off of there. nasdaq moving higher and s&p 500 was right near 1650. still a great day on wall street. the financials are powering along on a day where the markets, dow and s&p are at least hitting all-time record highs. financials are doing great. goldman sachs up 3%. and citigroup and bank of america, for example, hitting 52-week highs. you're seeing strength not only in financials but in so many sectors today.

tracy, ashley, back to you. ashley: very good, nicole. thank you. we'll be back in 15 minutes. tracy: as nicole says, stocks are back to their record-setting ways. up next we have a strategist who says there is actually more money to be made and he will share his picks next. ashley: let's look how the u.s. dollar is moving with the dow up some 88 points. the dollar has been strong of late and oh, boy, it is strong again. all of these currencies, as you can see moving lower against the u.s. dollar. the euro down 129.44. the pound is down to 1.52. we'll be right back. we went out and asked people a simple question: how olis the oldest person you'venown? we gave people a sticker and had them show us. we learned a lot 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. ♪

>> at 22 minutes past the hour i'm patti ann browne with your fox news minute the national transportation safety board is recommending a tougher drink driving standard. the ntsb wants states to lower the legal blood-alcohol limit by 40% from .08 to .05. the federal agency says alcohol-impaired driving causes 10,000 death as year, 30% of all u.s. highway fatalities. detroit mayor dave bing will not seek a second term. the former nba hall-of-famer and business owner was elected in 2009. he inherited a city with

$300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings.

the economic date at thaa is so so. by all economic accounts we're drifting but we continue to move higher. >> absolutely. if you look at the fundamentals, if you look at the economic reports, like you say they're not really anything to write home about but there is an reason behind it. you could easily explain it away. because of the fiscal cliff, because of the sequester and because of the higher taxes but yet the economy has not fallen off a cliff. if you look at first-quarter earnings, earnings were better than expected. nothing to write home about on the revenue front but the earnings are certainly better than expected. that trend is likely to continue as we move through the rest of this year. and i think that is one of the reasons people are interested in stocks right now. also, when you put that together, with the liquidity that the fed is adding to the money supply, that certainly is another reason to be positive about the equity markets. i think if you, step back and you say, okay, we're trading at just under about 14.5 times, about just under

$111. if you put a buck 12 on the s&p, you put a 15 multiple on it you easily see us getting up to 1680. it is probably around 2, 3% from where we currently are. it will not be the overall market. it will be stocks that have been lagging during the first quarter, that are going to be continuing this rally forward. ashley: so you like the cyclicals with that in mind. so you're seeing this rotation out of defensive sector into the cyclicals. do you agree with that? is that what you're telling your clients to do? >> that is exactly where we positioned and exactly where we positioned in the first quarter. we're a little bit surprised by all the action in the staples and defensive and utility and telecom areas. but i think that was a lot of people reaching for yield. i don't think that trend is likely going to be outweighing the results in this cyclicals as we go forward. ashley: why is there so much cash on the sidelines? i know people think, i've sat here, watched this rally come and go. i can't be a part of it. but you don't necessarily

believe that? >> i think that is a lot to do with it. i think there is a lot of professional portfolio managers that have underperformed, that now realize, you know the middle of the year is coming. they have only about six months left and yet, they're underperforming. they have to get back into the market. so they're looking for valuation. they're looking for value in the stock market. and it is cyclicals that will represent the best value. you don't really want to be buying a coca-cola when they have extended pes. you want to be buying a general electric that has sort of pulled back and yet responded relatively quickly. you want to buy a united technologies. you want to buy a deere. you want to buy the financials like aig, like blackrock. these are things that we own, and these are things i think will continue to outperform as the year progresses. ashley: very quickly, 10 seconds, do you have some sort of an exit strategy based on what the fed may do? >> well, the fed says they will be in there until 6.5% unemployment. it depends what measure

they're going to be using but we're still a little by the ways away from there. i don't think the fed will be pulling back right away. if it happened today i think the market would be a shock, it would experience a shock but i think when they do start to pull back, that's going to indicate the economy is back on track and they can weather the storm. recent article in the "wall street journal", i didn't find anything new in it so i didn't get all that concerned. actually i was a buyer yesterday. ashley: very good. many more today as well it appears. bob, thanks so much for joining us. i appreciate it. >> thanks for having me back. tracy: well the global oil market is shifting and north america will be a key player in the coming years. that's the finding of a new iea report and we're going to look how it can move energy prices next. ashley: first, look at some of today's winners and losers on the s&p 500. take a look. apollo group moving higher.

monster beverage always moving up, up another 5%. we'll be right back

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dell that are going to report for the quarter. they moved from next tuesday to thursday of this week. we have already got in and some of the numbers. it could be a mixed bag as far as what we see on the top and bottom line. we will continue to follow what we are hearing from dell. this could be good news for michael dell. let's bring you over to sony. it is up 9.5% at the moment. we are watching third point and this is a billionaire hedge fund investor. it is a spin off a lucrative part of the entertainment business. tracy: with the search of oil production, north america is going to dominate supply growth

over the next five years. >> there is a new sheriff in town. it is called north american crude production. [ laughter ] >> now, what if they have an opec meeting and no reporter show up. it will have a major impact. it is already. bottom line, u.s. surge in production. take a look at today's market. oil prices down again today. we just settled down another $0.96 on crude oil. they are down under a lot of pressure. a lot of that is because of big

u.s. oil supplies being so high. there should be a record tonight. take a look at gasoline prices. gasoline prices are up a penny. $0.1.79. a lot of this has to do with the midwest. the bad luck part of america when it comes to gasoline prices. they are surging like $0.26. probably another refining issue. whatever it is right now, gasoline prices up in chicago, where the rest of the world is falling. tracy: we will take it, bill flint. thank you so much. >> thank you, tracy. ashley: bloomberg lp is taking another hit to its reputation. reporting that bloomberg accidentally leaked on the internet more than 10,000 private messages sent between wall street traders and clients.

with more, here is elizabeth macdonald. liz: this comes from the heels of a new controversy where bloomberg reporters were found to be snooping on client usage of the bloomberg terminals. i just want to give you some breaking news there because the bank of england now out with a statement. they are calling it reprehensible that reporters were snooping on client usage of the terminals. they are saying their protection is vital. they are also saying it is liaison in with other central bankers around the world to make sure that this does not happen again and bloomberg. they have contacted 300 of their clients. we ensure the confidentiality of the data is protected. there will be no more snooping. getting back to the e-mails. that came from the business side. more than 10,000 messages. here is what is apparently

leaked. traders e-mail addresses, bonds, credit, confidential price information and trading activity. messages that went via the bloomberg terminal from the likes of goldman sachs, jpmorgan chase, morgan stanley, citigroup, clients. tracy: a bloomberg address. liz: yes. bloomberg coming back to fox business with this statement. bloomberg is now telling fox business these types of messages would only have been collected in cooperation with client to improve our technology for the client and we would consider legal action on this matter. what they are saying is that a bloomberg worker inadvertently dumped 10,000 of these messages. he used to work there. he does not work there any longer.

this is a separate controversy happening, separate from the snooping. it is another chapter. tracy: that is the things with these terminals. it is more than just finding a stock price. there is a lot of personal information on these terminals. liz: we are hearing that guys on wall street are saying we will launch your own bond trading. we want to do our own messaging on our own terminals. not use bloomberg anymore. there is a push to move away from the bloomberg terminal. that is kind of scary for that company. ashley: think you very much. liz: sure. tracy: will stocks may get another record date? we have live updates from the new york stock exchange next.

ashley: hiring and spending are still depressed. we have a special guest ahead. first, let's check on the ten and 30 year treasuries. we will be right back. ♪ whole new way. for seeing what cash is coming in and going out... so you can understand every angle of your cash flow- last week, this month, and even next year. for seeing your business's cash flow like never before, introducing cash flow insight powered by pnc cfo. a suite of online tools that lets you turn insight into action.

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also projecting next year will be 560 billion if the so-called sequester remains in place. governor jerry brown cutting the state's budget by more than a billion dollars despite a surge in tax revenue. nissan is teaming up with general motors to expand its efforts in the cargo van market. that is the latest from the fox business network. giving you the power to prosper. ♪

ashley: no one seems to be making that cause anymore. this is particularly true for the automakers.

a total quality index from strategic vision is a huge boost to these carmakers. jeff flock is in illinois. jeff: yes, we do not make that cars anymore. nobody does. it seems like it is true, the particularly the u.s. vehicles. they have four of the segment winners. that is a dodge durango. midsize suv, top quality. the dodge dart, some people really surprise. take a look at this. this is the town and country. the chrysler van. take a look over there. that is the chrysler 200 feared a comfortable. that is number one there. the ford fusion in that very competitive midsized segment where they compete with the cam right and all those other ones.

the top coupe, the chevy traverse in terms of a midsize crossover suv. buick enclave in the luxury suv market. the buick enclave number one in quality. the large suv market also big. really big on the suvs. last, but not least, the chevy avalanche. the top, full-size pickup in terms of quality. it is real improvements for u.s. automakers. it is the first time in a decade where they have one more segment than their foreign competitors. we did not mention the four guys. audie and lexis were the top. maybe you should buy those auto stocks. ashley: very impressive, indeed. thank you so much. the ford fusion is very popular.

ashley: a typical family car. i know a lot of people who drive it. the network upfront presentation in full swing this week. yesterday, dennis kneale told you about almost 40 shows getting canceled. i did not know one of them. today he looks at what will take their place. dennis: resurrection, come back and stunned. resurrection, 24, it ended three years ago. it is coming back to fox broadcasting. each hour long episode covering jack bauer's day. this will be a limited run of only 12 episodes. tony soprano is back. they reunite with hbo to for a seven episode run of criminal justice based on a british

series. michael j fox was tb in 2000. the michael j fox show is about a tv reporter who returned to work after getting parkinson's. nbc has a big bet on the show earning 22 episodes up front. the buzz is good. robin williams who has not starred in a sitcom. another comeback christina aguilera will rejoin "the voice." as for network stones, disney and abc for the first time will start streaming live shows to your ipad. keep track of a new cop comedy called brooklyn 99. it stars him in a bikini body.

the trailer is very funny. remember, you heard it here first. [ laughter ] ashley: a little disturbing. tracy: it will be great to see michael j fox back on air. ashley: they make fun of his tremors. it is up to him to do that. time for stocks as we do every 15 minutes. ashley: the next day we just came back and gave some. what are you hearing on the floor? hear about the fed, the marketwe is resilient. it has been absolutely

incredible. we are up 7% since april alone. it is up 23% now and five weeks. we are averaging about 1% a week. we have entered this parabolic stage. you have to participate in it. in times like these, they cannot last. we all know that the market is moving up and it does not really need a fundamental reason or macro reason to move up. there are some factors that are important over the next couple weeks. the defensive sectors have been under pressure and they are now starting to stabilize. there could be a better risk reward going forward. we also saw weak data overseas in regards to china and production. a lot of the commodities have been under pressure. these kinds of factors are

important to keep an eye on. obviously, the trend is bullish. we are getting to this area of resilience. we will need to show at least can pay.aking down before you ashley: a great summary. it is just a matter of how many years from now. thank you so much. tracy: they will get their day at some point. coming up, small business confidence rising. ashley: take a look at some of today's winners and losers as we head to the break on the nasdaq. we will be right back. ♪

ashley: breaking news for you. deputy attorney writing a letter to the ap calling a subpoena of a people records "reasonable and limited." there is a reason to believe that these numbers were associated with classified information. there you have it. they wanted their information back. eric holder recusing himself from that information. tracy: let's talk about our small businesses. small business owners are still holding back on spending and hiring. he joins us now. let's talk positives first.

they think the business conditions will get better over the next six months. how come. the map the question is why. do you think they will be better or worse than they are today six months out. that is in improvement of 13 points over last month and a huge improvement. they think there are a lot of things that can go wrong. who you are with record profits, corporate profits, record stock market and real gdp grew 1.5% over the last six months. that is a contradiction that we know is going to resolve itself.

tracy: maybe what they are saying is it just cannot get worse, it has to get better. >> we are at least at the high end. the average in this expansion since the middle of 2009 is 91. we are a point or so over that. it is still a very low number. we have seen some major improvements. it is six points from zero. still a low number. that is the problem that we have. tracy: we have a chart of. they still do not want to put their money out there. >> the average was about 17 percentage points.

they just do not think the customers will come. they will not buy inventory. they will not hire workers. none of the things we need them to do, they will do right now. tracy: the other thing you mentioned was obamacare. we have full-time employees that will end up part-time. >> they are not sure what the reality will be for them. some of the things we are getting and adoringly are instead of using one full-time worker is to part-time workers. they will just pay attention to the prices that the government sets. even if it makes it do something that doesn't make sense, they will do it because it is correct for the bottom line.

tracy: overall, it does not seem like the optimism is therefore the future. bill dunkelberg. we will talk again next month. >> thank you good to see you. speak to you too, as. ashley: liz claman will take you through the last hour of trading. "countdown to the closing bell" is next. the local ♪ (train horn) vo: wherever our trains go the economy comes to life.

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