a triple digit rebound in the stock market todaynd the latest report on the state of our economy t reason for exuberance and a celebration of you never would have guessedatching and listening to president obama is a speech out of climate change today. dow jones industrial average rising sharply up to out of three days after investors decided the federal reserve was ending quantative easing prematurely. sure enough and at dow jones industrial average dropped more than 500 points between wedsday and thursday. but officials made it very

clear yesterday they would not follow through on any perceived suggestion of significantly slowing or ending $85 billion of bo purchases every month. today investors were cheering the dow gains 100 points the s&p up 15 andhe broader marketup over percent so far this year. the nasdaq gaining 27 points today and up 11% the wilshi 5,000 coming to a trillion dolla since the beginning of the year. will street cheered positiv economic data with durable-goods orders and new home sales and consumer confidence. the commerce department reporting strong manufacturing results showing orders for goods would last thr years rising 3.6% in those gains

were concentrated with commercial aircraft and military equipment and business investment by excluding defense aircraft rerting the third strght month of gains. the housing maet delivers on heightened expectations of ntinuing streng. the commerce department reported new-me sales rose 2. to the annual rate of 476,000 with a new five-year high and more buyers enteringhe market despite raising prices. the case schiller index shing existing home prices in0 metropolitan areas were told% higher in april than one year ago. posting the largest gain since the -schiller indebegan rising 2.5% and on top of that region to five-year highs this month with the confidence has risen three months in a row.

we will examine the remarkable turn from last week's despair to a new perspective givenhose encouraging reports on what has been a strengthening economy and investors were not paying attention to the spectacle a dour president brimming with eageror a war on coal. obama exercising his executive power to direct the epa to force tough new regulationson coal-fired power plants. the president had no need for background props but instead used himself repeatly wiping sweat from his brow declari climate change is happening now and no speech by this president would be complete without an attack on it of strong man with the offering of at least one false choice.

>> i have patience for anyone who denies this challee israel. we don't have time for a meeting of the flat earth society. [cheers and applause] >> sticking your head in this and make you feel safer but that will not protect you fromhe coming storm. lou: one of the top climate @%ange advisers make it absolutely clear president obama leads an orchestrated assault on the coal industry and utilities. presidential science panel member daniel tells the led york times'' mack politically the white house is hesitant to say they're having a war of cl. on the other hand, a war on coal is exactly what is needed. but weknow the is more th a little hypocrisy with the r onall the president wants federal carbon emissions limits on existing power plants here at hom at the same time deal on the administration permits a

huge uptick of coal exports. in for those that have dismal record when it comes to technologies. coal exports doubled during the first term and those hit record high in march. inks to increased exports that went from 2% of total exports through last year of 25%. this president wants to kill col? and with all the good news on the economy instead waging war on coal and a sizable peentage of exports now swirling around the obama white house did not subside. as saying that are sensitive secrets are out large and officials confirmed tday

that the nsa lot weaker edward snowden is moscow the russians make it clear as well to the aba ministration there's no intention th he would face a speenine issue charges and both are applauding edward snowden and his performance has hardly endednd th reporter who broke the ory for the guardian says edward snowden gave encoded files of secret said he stole from a number of people d joe files of locked in the case of his death or injured -- disappearanc catherine heritage has the latest scam in speaking to reporters in finland and russia tint -- russian president seemed to appreciate the predicament. >> edward snowden is a free man the of sooner he chooses

a final destination the better it is for us. >> john kerry responded to the claims that edward snnwden is outside their jurisdiction. >> we call on them, did not have to enforce the law but they could allow him to be subjt to the laws of our land and constitution of what he is a citizen of and that is a recall of them to do. >> they arepublicly backing the claim that edward snowden is in transit and he has not been processed by customs authorities to remain and there is a warning for washington. >> any of them to accuse a of us of participating in a conspiracy accusatio accompanied by threats in our direction thereis no lawful grounds for american officials to act in this way >> having it is to meet one-on-one the ste department offered nothing

if the men are already talking. >> counteerrorism officials tell fox news th no terrorist groups have begun to alter the way they communate in the wake of the classified leaks but terrorist groups are now armed with new information to keep it private. >> it is much bigger than that employ its ameran soldiers at risk if but said matt risk. >> the former contractor went beyond the nsa and the evidence points to the livelihood he may have pulled documents before booz allen hamilton the state department officials say it is expected he demoted intelligence that is more valuable to china and russia than the data collection on american citizens. lou: thank you.

to our fox news chief intelligence corresponnt. the supreme court today with a major reversal of the voter rights act by the five / four but t jtices decided to strip the federal government of the election oversight in 15 southern states that had a history of voting discrimination. >> a.m. deeply disappointed. >> they said that a key provision of the voting rights act unconstitutional is not the end of the issue. under the of lot to remedy discrimination all or part of 15 states are required to t permission from the federal government before making changes to procedures for the supreme court held the formula cread to say which jurisdiction is

outdated a dent john roberts said 50 years later thgs have changed radically and today it is based on decades old data a eradicated practices. the immediate impapact is that it covered jurisdictions of all states are fefromhe obligation to seek clearance from the federal government. >> are government one size fits all that different for georgia or arizona then they and places like new york or idaho dumped he to cply. i think it has been restored today. >> justice ginsberg said'' the court's opinion can hardly be described as moderate decision making quite the opposite hubris is a word for that demolition. the rerend jesse jackn predicted a negative impact.

>> you will have fer blacks or latinos better less equal because of the decision. >> and it isndicated congress can come up with a new formula see which jurisdiction still engage in discriminatory behavior but it mu match the conditions of the present and not the past. leaders of bull's-eyes are willing to undertake the task lou: day que shannon. mu more a leader of this a form -- supreme court decisions with lis wiehl and randy. new developments of benghazi scandal issuing subpoenas to force state department ficials to find out what they know about last year's terrorist attack. wi delays of scheduling interviews have taken too long and he had no trace and

going on the offensive of another potential scandal at the irs accusg them of awarding contracts worth more than half a billion dollars to a small comny called strong castle. and this president had a cozy relationship with an irs contracting offial. the committee meets friday with the resution whether or not irs top officials waving the fifth amendment rightith the hearg on may 22nd. president obama picks a scorer of a day to pitch scott climate chae is he trying to change the subject? next.

lou: as i said earlier a good day wall street and @%ocks rallied recovering recent loss of 10 secrs of the s&p placed one neti posting gains more than three-fourths of stocks traded is banned in volume 3.6 million shares and homebuilders moving higher after positive reports of new home sales and coal stocks ignore the war on call in the climate changes speech and posted broad gains but gold fell $2 at just above to hundreds of the $5 an ounce san gregorio is up $0.14 at $95.32 per barrel and in the bond and market the 10 year rose. attorneys representing a class-action lawsuit against the irs say they have proved

the irs targeng of consertives was an agency why aid effort. telling the dailyollar'' we're dealing with multiple irs offices across the nati and targeting conservatiroups and 11 different irs group's including the tax-exempt government entities division in washington. this is a vernment watchdog report that reveals more at the irs and a report from the inspecr general finding that the government credit carards are used to ma questionable purchases ranging from more than two dozen bottles of wine to online pornography death rate credit cards for use to buy bandannas, or rented popcorn machine and stuffed nimals and the

majority of ca holders ed the credit cards properly b the irs lacks controls to stop inappropriate purchases. turninback the president's war on call m next guest says he will continue to fightgainst the epa and any other agency whose goal is to stifle energy productio joining us is a member of the committee an member of the natural resources committee for energy policy. good to have you with us. let's start with the war on call? the president not even unhesitating with the assault on the industry and what amounts to a huge percentage oexports and 84,000 jobs around the country. >> absolutely an assault on american energy policy and

american workers than jobs and also an attack on an arizona. 40 percent of our religious of the comes from coal and they're not even willg to debate we had this discussion with the american people and it failed to go anywhere now they're distraing america with a flawed background with the war article. >> and to be in opposition with false oices of with thh lack of inllectual integrity is just astonishing or stifling. this is a man who does not like despite his background. >> that is why we have a hearin f congressman from arizona on july 1st

taing about the epa and irs. we will take that debate to the american people if he wants to or not but what he is doing is trying to distract the people with government gone wild. lou: i don't think too many americans doubt with this president is doing to chan the subjec and now with this administration and by house it could cost as much as when a judge million dollars and to what purpose there is very little 1k and find with thearrative the white house has used at the sameme time we watc a bill on

immigration reform move through the senate expected to be voted upon and harry reid says successfully on iday then goes to the house. we're hearing from the republican pty the same platitudes or emotional arguments we heard from the democrats without thought to the cost or the imct or the control of the border and would it remain in this country even though the rich foundation said iteets 36 million more immigrants but only deals with 25 percent othose crossing the border. this is 2006 all over again. >> exactly. a series of promises not kept why should the government especially when it died on follow-through borrer security? i am not willing to allow them to dictate the promise of what is. i want to see that the also

hasthe federal government and the american people believe we have limited resources and we havv to be part of the enforcement of the border policy. if i was as senator i wwuld not to vote in the half to stt with voters security and restore the trust. lou: does the house leadership have the guts to say no? >> absolutely. i will be one of those voices. i have said we needed new immigration policy and a thoughtful process but it has to be sustained and also with border security a new have all these people coming into the country you haveo turn off the faucet and that is ours border security. lou: most one that solution but nobody wants to beegame to that is what the day debate, th president and

the democratic leadership are trying to do and in this case in league with republican. we look forward to do a talk with you as the bill moves forward and the oversight continues. up next with the administration and taken over by a scandal you would think president obama would like to deal with what americans want taken care of. we will show you how he is doing at that in the "chalk

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ou requested backup? yes. yes i did. what's in your wlet? >> in the middle of these scandals the president got good news the irs ruled the second term a total loss as a ride off. [llughter] [applause] lou: eight could use a little humor these-- it is a depressing place i imagine with mired in scandal and immigration reform is a mess , the future in the house is far from certain and did we mention seemingly

a new scandal every week. as a result his approval rating is under water the latest fox news poll alan shows only 43 percent approval rating. 51 percent disapprove of the job the president is doing. you would thinn the president will look at that and devote his focus to the nonsse of the mostst important issues and problems facing america -hat are those? according to gallup, a 24% the biggestroblem is the economy. we kne that. 18 percent say it is jobs we knew that but it seems washington does not. 60 percent said satisfaction with the government and 11%

said deficit and 6% health care in of course, immigration and that is a big deal with only 4% of those respding to say immigration. guns? the presiden wants gun control but only 4%. what is the president doing today? he is talking climate change. so how manyay the environmental and pollution is the most important problem facing the country? the presidencan be that far off. can he? the swer is 1%. the jobs of the american people by the way are amoring for the president to focusn is jobs of the coal industry providing some of those jobs and he wants

to kill the coal industry that would kill 84,000 jobs. and yet the administration says the best thing it can do is waging waron the coal industry. i watched him today. he was an inspired comoros comoros, a somber, the opposite of uplifting. wonder even liberal news outlets are turning on this present and some of his nonsensical idea is. last week after the president to leave -- delivered a speech in berlin behind 6 inches of bulletproof glass the headline read'' obama liz is rock star status'' tell me about it. a new headline reads'' president obama in the doldrums. i think that is being kind

frankly. but the good news is not to obey a total loss ofhe fit six months of the second term affects the stock market where the attitude of americans who want to restore prosperity in the free enterprise, free market economy. it is still bad and it is not ryan try as his president may, it is not run by the white house. is showing some very significant signs it is strong enough to overcome even mr. obama. >> the supreme courtstrikes wn a key part of the voter rights act and the president says he is disappointed. much of the country is celebrating 50 years of advances from civil rights. we're on the case. we're on the case. "dobb's law" next. there is a pursuit we all share.

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lou:xcitement in the year you may have forgotten we are a half an hour away from the massachusetts special senate election for a successor to john kerry and decided between ed markey and a newcomer gomez and massachusetts officials expect a light turnout and predict less than lf of the four point* 3 million registered voters will cast ballots. senator cruzays the supreme court today recognizthe enormous progress made by voting equali since the voting rights act passed in 1965. issuing this statement. >> the court rightly decided the stutory standards used decades ago to subct democratically elected state legislators to second-guess by unelected bureaucrats n

longer survive constitutional scrutiny she. trading is now for the discussion and analysis and the opinions from the high court tomorrow former prosecutor of these wheel and criminal defense attorney and former prosecutor,,welcome to you both. to as senator cruz have a right to? >> i think he does but the reality is if i show up at a crime scene with a magnifying glass and a quill pen you may havea bit of a concern to what i of doing a that is what the court said the 2013 let's not talk about using 1965 standards to balance what we believe to be racial inequality if you look at the numbers they tell us white voting versus minority the numbers are here when they used to be like this premia that 2013. >> there is no quantifiable

data that says the problems eleatic 1965 are still happening now. you cannot have a lot of books that does infringe on states' rights so the argument is it is teh amendment sue if the govement wants to impose this burden on us it is very expensive tomplent it then that you have to have a state interest in they could not show one. lou: weave an africaamerican president, the attorney general has pointed out that in every instancef which he is aware we have seen the inverse of what the justice department claims minority participation actually rises that is the end of the discussion? basically we were saying

from the perspective of accomplishme sit down there is a thing more to talk about from the political perspective? >> the supreme court says no >> but they say if you rewrite the lawnd they left open that door. >> it islways open to write the law but the likelihood they will ever be able to comeagain ven the experience othe last 50 years by president obama obama,ttorney general holder today both eresses disappntment in the case of the president to ignore all of the accomplishment and achievement and success of leavened legendary civil rights activist jesse jackson be voting ts decision when in my opinion

should say thank you martin mr. king and to all who made it work because this country is working and of the people who ke running it down their respective ofheir politicapurpose prejudice, they have got to step aside to look at what we havave accomplished. senar sessions sai toda let's take a look we have full screen, i don't know what would be needed if anybody discriminates against voters and alabama because of the color of their skin they would go to jail if there is any proof to that. that was not son 1965. andlso senator cruz. this is the time it seems forelebration. that it worked and use said disappointed that he actually wasn angry.

>> buu he was a law enforcement officers be maggie was a political officer. be straightforward. i will not indulge he has politicized the u.s. justice departmentin moments of honesty we would say in the unprecedented fashion from the nixon administration. let's turn to the zimmerman trial are you kidding me? they start the case with profanity and and a knock knock joke? >> i have never seen a defense attorney and a cond deeree murder case where his clients looking at life in prison and he starts off with a knock knock jke? lou: a peculiar sounding

fellow from jump street by your thoughts? >> the entire case is amazing because lead is a cornucopia of everything. law school examinations and questis whether or not you can go from being the hunter to the hunted because of the pursuit of trayvon martin does that mean he cannot use self defense? we he the race word is an issue? cially profiling or neighborhood watch? si. >> that is where all the 911 callsome in. >> keeping the parents out of the court room? >> that does makk sense because they will be witnesses later in if you are a witness, and no no no that is fundamental law if you were going to be a witness you cannot be in the court room until you h i am fine with that. >> but the l thing this

judge wants to have happen is lose contr o the alady potential explosive situation because one thing that happens you talk a strial. lou: i come from a little place and i have watched trials as a kid and to think people are being denied covered in the judgment, this is supposed to be the open court system to deny acce to witnesses in participants is hogwash and it is an american and i don't care who says otherwise. six women on the jury is it as important as some suggest? >> on bo sides must have thought that having six men on that jury was good for them the prosecution.

lou: but w doesn't favor of? >> studies have shown like everything else. [laughter] female women tend to convict more if i connect with you that you listen to me spinet those lawyers are not connecd with abody yesterday. either side. it was prey bad. lou: they made a fool of themselves and i would not want to be a client for either of them personally. thank you very much if you are going to bea client they are the best. up next, the presidentays out the latestroposal of the administration moron coal and we will show you

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lou: has raised said the market's rally under strong economic news as investors looked deep into message from the fed in the economy gets better and here with his outlook we have the chief investment officer with from pnc wealth management. i had to almost laugh. exuberance, and appropriately so in my opinion? >> we sought a sttrong dated today with durable-goods durable-goods, new housing sas, housing pricing also just the economy continues to improve by the fed tried to communicate they see improving fundamentals. lou: then they started to do

palaver and fed officis turned out from every quarter to give his opinion but alan did not participate. the fed has been clear about its metric 6.5% unemployment and want to see inflation at target. this is an economy that is robust why is everybody going crazy? >> all the sudden there at this point* where credit is is bad news than i thought would be good news. lou: some investors get stupid it is called too clever by half call the u.k. and some are running large hedge funds get carried away. we will get the quarterly gdp at first look. >> we will still see 2% or maybe a little less but the second half of the year is

picking up it would be 2.2% with improving buto doubt on the boundary of a transition in the economy so with unemployment to pick up and unemployment rate will me down by the end of the year and things are improving and that will be a tail wind. >> that is the next revision inhe course we're not quite there. looking for the market over the next few months i think we churn for a while as we go throu the rotation the inflecting point* in then we can see in that range ear 2014 but at all think this corrtion is over and we could see a couple percentage low before we climbed back up but the important thing is come into

second quarter earnings f the highlight will look for with improvement of revenue growth. lou: thank you for bng here the deadly virus spreading through the middle east and dr. siel jos us to assess the risk for amera. amera. stayith us. you hurt my feelings, todd. did? when visa signature asked everybody what upgraded experiences really mattered... ou suggested luxury car service std of "strengthraining with patrick willis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot anumm... [ male announcer ] at visa signature, ery upgradedxperience

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matt ces of the of middle east syndrome deadly respiratory virus slows -- shows is more deadly than and fisa. 77 have been reported a forward p/e those are

resulting in death joining us now is d. sieg ofessor ofedicine at nyu this is touted by the debris joe as the deadliest thing around and in recent memory. how concerned should we be? >> rig now it is too early but not too early to pay attention so it is good that we talk about their. the world health organization has history of overreacting to scare everybody it is the coronavirusne of the common cold virus. tea to the most serious example was not as bad as they thought athe time. effected a thousand peoole and killed about 770 they thoht it would be a worse than when that started in 2003 but the first few mont it was

deadly to about 50%. i am not making light of that and that is what this is the overtime the virus once to survive. it tends to change your view take to be less deadly. also looking at the hospital with the worst cases of the coit there is more cases of this that have not been reported. lou: that is a strange thing abou this virus is that to deaths in saudi arabia. it seems impossible that anyone, no matter how good the who is to have that owledge and exact count? >> if you think tere are many more cases than that but that i good news becausas the virus spreads it should become less deadly but it is important to talk

about it to isolatethose that are sick and it is important in those areas. in the middle east, jordan, france, great britain you'll know how to recognize it to isolate themselves because it is pretty contagious right now. the was an article in the new englandournal of medicine it is very contagious also a concern but the biggest thing is fear we cann compare it to sars to say it wiped outhe planet now this will. >> of 774 fatalities with kidnapped. >> would cap that fallt. billions of dollars and if the fear mongers from th program they will say they save the world.

they showed it was not as contagious as we thought. >> one of the statements that the virus is a threat to the entire world dr. chan of the who leads it. >> a lot of money is tied up with that but to give a mixed message it is worth paying attention. it is spreadingn this small. we should monitor to get a rapid detection test but not life-threatening. lou: but our audiences so smart they will have competing ids. >> more than margaret jane m. [laughter]

lou: your very pleasant to ditchers. thank you for being with us the atrneys general of south carolina and alabama are with us

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we do whatever it takes to make your business our business.. od. lping the world keep promises. neil: here is when you know you are a fool, when everything you doakes you look more foolish. i am neilavuto, first off thank you to my friends lizzy macdonald and charles payne who filled in while i was gone. countries that feared us, louvre at us -- they laugh at us, they almost toy with us. today putin bragging bout now nsa leaker was seen assault saunteing around the moscow