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tv   Markets Now  FOX Business  November 6, 2013 11:00am-1:01pm EST

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here, but we will live with it. charles: we can still respect the office. stuart: i most certainly do. it is all yours. connell: we will pick it up with kathleen sebelius on capitol hill. new question to ask about the obamacare rollout. and forcing many people to become better shoppers. whether they like it or not when it comes to quality and when it comes to cost. it is an entrepreneur who is helping patients to get ready. coming up as little bit later in the hour. prolabor candidates who did very well. so lou dobbs is coming in, he will tell us what this really means in his view. and watch out, pricey gift to his clients. it has the players union taking notice. all coming up this hour of "markets now." ♪ dagen: you could get me
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something similar. connell: no, don't want to have to report it to the union, even though we are not in one. it was a pretty expensive gifts, without giving it all away. dagen: if you are trying to check off your christmas list, there you go. stocks hit new highs, nicole petallides at the new york stock exchange. nicole: the dow jones industrials hitting a record all-time intraday high today of 15,732. still holding onto some nice gains of 69 points at the moment. the s&p would be a record closing high, couple of points away from intraday all-time high. we continue to watch the market to the upside, waiting on the twitter ipo tomorrow. and yesterday was a real indication of the 10 business of this market. a quick look tesla effort
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recorded the quarterly numbers. the outlook falling a little shorter of what people had hoped for. right now at 148.82. dagen: thank you, nicole. connell: the obamacare rollout and website can and will be fixed. facing another tough round of questioning in the senate today. rich: we will get enrollment numbers out of this. we don't know how many people have enrolled through the website. they had referred to some administration documents showing since people have signed up on that first day. saying those numbers are not reliable and say next week we will get numbers as to how many people have successfully and rolled in this. as for the rollout, and administration democrats
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acknowledge it has been a mess. >> in the last five weeks, access to healthcare.gov has been miserably frustrating experience for far too many of these americans. it is unacceptable, i am accountable. >> i want this to work, make it work, but you have to tell us what is going on candidly, fully, fully, so we don't end up in a november low and behold still not there yet. connell: max baucus was questioning sebelius earlier questioning the operation because they were not forthcoming. said everything would be fine and then it turned out it wasn't and he wants them to be more forthcoming with the information we don't just wake up on the deadline the administration has set to get the problems fixed and final they haven't fixed the problems. asking why not just shut the
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website down. say you don't gain too much from doing so. does not damage it all that much nor make it all that much harder to fix the website. reuters is recording the co zero says they expect there will be an extension of the open enrollment expected to go at least another five months or so, but they say because of the problems with the website, they expect open enrollment could be months further into the future even into next year. connell: thank you for the setup from capitol hill. as we bring in brookings senior fellow. always good to have you, sir. max baucus is a democrat, you sought rich edson just played, he was really pressing the secretarsecretary in the last ht you had your issues here, this website has been a mess, why not
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just start from scratch? do you think that would be a good idea to start over and shut it down and stop the small fixes that don't seem to be doing anything? >> it might be. i ink haseen sad me, and e th s prictein a way. peop who w the prlems me i i was not one of them, but people who knew these problems were coming, they warned people in the administration and nothing was done about it. that has to be some accountability, some heads needed to roll. i am one of those people who support the idea of expanding health care coverage and i would like to see that work, but this has been really a terrible example of doing that, solicit a need if not to start from scratch, make sure they have the right people in place. number of gr connell: were one of the people who supports expanding health care coverage.
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that is one of the reason i wanted to talk about it to get your perspective on it today. you did not say that you support obamacare and the law as it is written. do you think it will ever work and what will that look like? will this be implanted actually working as many people claim it is doomed to failure? >> if i had to choose up or down, i would have voted for it so from that point of view i support it. there are things about it i am not sure i would have done in exactly this way if i would have been privy to this information i think they had, moore had to be done to stress competence over people who wanted to do it. that has been where they have fallen down on the business side of this. working with insurance companies, making sure the website worked. connell: with the president
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saying you can keep your doctor, your health plan, the things that clearly have not worked o out. what about that part of it? say one thing and another thing is actually happening? >> that is also very sad. i suspect the president thought he was telling the truth when he made those statements, but his advisors should have warned him he couldn't say that, maybe they did warn him, i don't know what went on in the private conversations but he should have known that was not what was going to work, there were policies out there that did not meet the minimum standards they were setting and therefore were going to be canceled. connell: will this ever work, and if so how, what will it look like when it is implemented successfully? >> i think it will work. there are some states that are putting it to work for the states wanted to do this and are
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working with the federal government and with the insurance companies are making it work. it will take a long time before it works for everyone. connell: on everybody's account, it has been rough on the rollout. >> very, very rough. and some of the states, particularly the southern states, it may not come in for a long, long time. connell: thank you for your time today. >> thank you be at dagen: something we can celebrate in this country, the u.s. now produces more oil than it imports. we are on track to be the world's largest oil producer in a very short while. north dakota has arguably the healthiest economy in the nation. why? fracking. a whole new book about the new energy boom. good to see you.
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you previously for long part of your career have written about hedge fund managers slows dudes move money around for a living. they actually create something and have developed new technologies and are real traditional moneyman here in the u.s. >> more of entrepreneurs, i would say. they do not agree with what the experts said. they said go offshore, go to africa, go to asia. they said we're going to try and make america work. they figured out how to do it, that is the story behind this revolution be at dagen: what were the personalities like? you had contact with them at least initially, what were they like? you can talk about some of them did >> it was an attraction to do this product. he grew up dirt poor, cannot even go to school until about christmas time because he had to
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help his parents in the field picking cotton. today he is worth more than the estate of steve jobs. his wife is going to walk away with more money than opera. dagen: how was it getting along with them? you would expect these gentlemen to be difficult and maybe temperamental. >> some didn't play the questions i asked about the environmental side of things and some didn't like their foes, that is what i do. they are colorful men, they are characters, some will love them, some won't. some make billions and lose billions. they have hired a lot of people and that is why some of the states around the country i traveled like texas, oklahoma, north dakota, pennsylvania, a real shot in the arm for small small-town america as well.
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dagen: what do think it says about the country as a whole and the american spirit? >> i was reassured in a lot of ways. kids getting to school, not finding good jobs and you go to places like louisiana, met a young man who makes $100,000 per year, so there's a real shot in the arm in those places we had tells you about the country, a little disturbing, the flipside is we are so to each other on fracking like we are in d.c. as opposed to making sure the process is safe either have people saying to drill or that fracking is poisonous and neither is accurate. dagen: do you think it can continue? >> the boom will continue. we are not ready to shift over to solar and wind, unfortunately. i am ready to meet in the middle. one group puts pressure on
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producers and is working with them to improve the way they are practicing. i would want to see more of that as opposed to forcing people not to do it or ignoring environmental. dagen: you are a journalist, a writer, as always has been more fun than writing about hedge fund managers. good to see you. greg, please come back to talk my whole host of things. good luck with the book. connell: the union for major league baseball players looking to relationship between the top free agent and his agent. jay-z. the concern over $34,000 watch he gave to robinson cano for his 31st birthday. he gave a limited edition watch at a party held in belgium in october. happy birthday, mr. cano. the agents can give gifts to
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clients but had to tell the union in writing if it is valued more than $500 which this watch clearly was. the agency became the representative back in june. dagen: does he basically have a relationship with the watchmaker? they could have given the watch to jay-z, it could have just given it away. i am just curious if that is a problem we had so the value of it with you paid for it or not. connell: you've got to let them know. but in his birthday present, if you follow the rules, i guess. dagen: i want a new one from you. starbucks a recruiting effort for the nation's veterans. connell: business elite from our ivy league colleges are graduating, and more and more choosing technology over finance. dagen: make something rather
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than just moving money around for living. and obamacare puts the burden on you to be a better shopper for your health care. entrepreneurs will help you do just that. [ male announcer ] imagine this cute blob is metamucil.
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connell: time for us to head back to nicole at the stock exchange who has a new hamburger from burger king. nicole: is worth talking about. burger king is bringing it back, the big king burger is back. what is so interesting, the stock is down half a percent. what is so interesting is the new burger is almost exactly like mcdonald's. big mac. down to the third bun in the middle. it did not have that in the late '90s. up 28% outpacing mcdonald's this year up 11%. this burger which will have two beef patties, three pieces of bread, toasted sesame bun. if you are interested in buying it. and i wanted to tell you burger king and mcdonald's up
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year to date. they both pale in comparison. when burger king is up year to date 30%, wendy's up 96% this year. pretty amusing. back to you. dagen: the world's largest coffee chain is helping our heroes. over the next five years starbucks committed to hiring at least 10,000 veterans and spouses of those still active in the military. the seattle-based company plans to share a portion of each sale with nonprofit groups helping veterans reenter the workforce. though going to effect on or near military bases. the move thankfully seems be part of a growing trend. walmart previous essay plans to hire 100,000 veterans over the next five years in the new initiative to put heroes to work. connell: what about this story of people taking their mba
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elsewhere. talking harvard, elsewhere. there taking to the tech sector more and more. this is after the effects of the crisis lingering, harvard business for example 18% of graduates had to technology. at the graduate business, 26% heading into finance, 32% technology. so there you go. dagen: number one, it has to be more rewarding to change something. number two, if you want to get really, really rich, i mean super rich, you have to start a company and sell it or take it public and have a liquidity event. you do it in the tech sector and finance it is much harder to do.
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connell: like a twitter ipo? dagen: exactly. boston's new mayor, we're talking about union bigwigs and what the new mayor in new york city is going to have to deal with in terms of labor contracts. the hot topic, and lou dobbs is all over it. connell: and then there has been a lot of talk of how long the fed might wait to taper. now there are some hard numbers that suggest we could be waiting longer than the experts thought. details coming up. [ female announcer ] tide pods three-in-one detergent.
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>> at 24 minutes past the hour, this is your fox news minute. sectarian states john kerry says the u.s. providing an additional $75 million in aid to create posting jobs and help improve infrastructure. is designed to boost posting and support for peace talks with israel. workers returned to the garden state plaza this morning to prepare their stores for shoppers. a man fired shots inside and killed himself reopened today. the 20-year-old's actions sent them all into lockdown monday night. and another turn today with a report that suspended dolphins
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lineman may have been encouraged by teams coaches. incognito left verbally and racially sensitive for martin and may have been taking the request a bit too far. those are your news headlines on the fox business network. get you back to dagen and connell. dagen: thank you. let's make some money with charles penn. shares up year to date. connell: like a theme, on their way up. charles: when you get a fractured stock it is fractured for a reason. so you take on tt adtion risk my wst o thi yeaas avo momentum names for now. the talking about the obamacare website and security risks, these guys have a networking platform i am no expert but it looks like it is revolutionary.
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bowling is a customer, starbucks, visa. they guarantee the technology is bulletproof, it hardens applications and eliminates risk and reduces workload. was everything you want, they just unveiled a new product with their new firewall. the numbers suggest the rally continues. left field and it could become like a household name. connell: for some reason i'm interested in the psychology of this. you are in momentum stocks for a while. charles: i have office depot. trying to get the stains i think are coming out of it, so to speak. there are few others. the number one stock in the market.
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you have to shift around in this market. you have to do some chasing if you want to participate. dagen: the emotional side. connell: a big night last night for the labor friendly candidates. x labor guy. lou dobbs is coming in, he will talk to us about this trend. dagen: and what does warren buffett say that tells and there is a red flag on the stock market? [ male announcer ] need help keeping your digestive balance in sync?
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dagen: a couple of energy companies reporting this morning, keeping an eye on those shares. nicole: good morning, everybody. watching a few energy names. all reporting some numbers. down six, almost 6.5%. let's break it down for you a little bit. you can see chesapeake energy focusing on oil and natural gas production trying to decrease expenses. with the up arrows, beating the street. duke reaffirmed the 2013 forecast and a mixed bag as you can see to the group overall. back to you. dagen: thank you, nicole. connell: big win for big labor. the mayor's race in boston and also in new york and the governor's race in virginia. dagen: lou dobbs is here with this. you have 300,000 workers in this
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city who have been working without union contracts for some years now. they want retroactive raises. again, you have union friendly winners here, what is the danger with the union movement overall? >> here in new york city you look at cincinnati with an amendment which i is going to be guaranteed they get paid off before anyone else. really at the pr real backlash forming as a result of some of these moves. in a city like new york with a 7-1 advantage, the outcome irrespective of the unions was assured. but his union friendly reception will not be the radical departure from the history. they were born in this city
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almost 60 years ago and created so much opportunity for other cities to follow the same sort of path in their fiscal policy. connell: a registered democrat had not won since 20 years ago. >> that was a great administration. dagen: i was like this is time to bring him back. almost went bankrupt. connell: why do you think these things are happening? because we have done so many stories about the decline of big labor. >> they are throwing big money and they are doing so on political playing field decidedly tilted as the case in new york. they won in virginia, the boss horribly in new jersey.
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governor chris christie printing of the biggest win in about a quarter century by margin and doing an amazing job he had came within a hair's breadth of beating the 10-1 advertising budget advantage. union supported winning by two points. are you kidding me. connell: you don't see a huge trend. >> there's a declining trend for labor in this country, that is why they are sewed desperate right now trying to find some way to hang onto the little power they have. dagen: that is why they're trying to empower the unions because in the private sector they are almost dead. >> what you're watching is a republican party in its leadership, why in the world wasn't the republican party in
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virginia supporting them? there is a battle between the g.o.p. establishment, which it can barely be differentiated from the democratic leadership, and the tea party organization which are far too radical often, but basically represent the popular will of millions of americans. the libertarian takes the vote a way 7%. oh, my gosh, did not know he was funded in texas making it possible for him to win. him being the libertarian candidate because they have a very difficult relationship with libertarians. they need to embrace the traditional moderate republicans, which make up the greater part of the party. but also libertarians and the tea party and build on that. enough with what i call the karl
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rove wing of the party. people named bush are not going to lead the party if the party is to prosper. connell: more of that tonight on "lou dobbs tonight." >> a whole lot more tonight. dagen: thank you so much. chris christie, just saying. connell: he did well. dagen: if he starts slimming down, you better watch out. man, he is just throwing the flag up saying i am running. some experts thinking the central bank is going to take longer to start withdrawing some of the massive amount of stimulus. we will talk about that. connell: and the man they call the oracle of omaha. warren buffett. what he is looking at specifically in just a few minutes. dagen: managing your own health care costs. forcing you to be a better shopper. how you can do just that.
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and this park is the inside of your bo. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. >> i am joe link kent with your fox business briefs. leading economic indicator rose by seven tenths of a percent in september. economists say that means u.s. economy should continue to grow
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modestly over the next three to six months. corporate layoffs rose in october according to gray and christmas. plans to lay off 45,730 people last month. up 13.5% from september. the u.s. postal service projected in mid-october it would only have a cash balance on hand for five days of expenses. now that it is november, will they run out of honey? an exclusive interview right here on fox business at 1:30 eastern time. that is the latest from the fox business network, giving you the power to prosper. bny mellon combines investnt management & investment servicing, giving us unique insights which help us attract the indury's brightest minds who create powerful strategies for a country's instments
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interest rates near zero until 2017, which would be longer than the target the incoming fed reserve chairman has post. dagen: they could drive unemployment down faster if they did that. peter barnes joins us from washington with more. >> these papers are making waves in the market and to top staffers and seniormost economist at the fed here in washington make the case for more aggressive monetary policy to stimulate the economy. for one thing right now the fed has pledged to keep short-term interest rates and federal funds rate near zero until the implement rate is 6.5% which could take until 2015 or so, but they have some analysts predicting the fed could cut the threshold to 6%, which means low rates until 2016 or 2017.
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the fed watcher calls the papers a blueprint for the fed. representing mss so for monetary policy activism. saying the policy the signals the fed could dial back the bond purchases. keeping the fed funds rate lower for longer would be the fed's carrots to go with the stick of a cut in qe. it has one supporter concerned. >> i would worry about the carrot is a lot smaller than the stick. why are you getting rid of the stick? what is the reason? is there any evidence this has had an effect? it is true one day we have to get rid of this, but a severe unemployment problem in the united states. >> fed chairman ben bernanke. they have said the fed is
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considering possible changes like these in its policy guidance. dagen and connell. connell: thaak you, peter, appreciate it. dagen: what does david stockman had to say about this? i know it makes you miserable. >> it is fairytale land. how could somebody in their right mind believe you have interest rates that drive the whole short end of the market at 049 years? they started it in decembe december 2008. that is the greatest gift to the 1% and the carry trade ever imagined that will totally distort the market and create unimaginable bubbles and we are almost on the edge of another explosion at the present time.
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it tells you the clear and present danger in america is the fed is run by people who are in some medieval castle and have lost track of the real world. connell: 2008, a lottof people say too long for the crisis, and was it one of the reasons things were so bad when we finally had that collapse? what is this next explosion going to be in your view? a prediction? >> we are at fourth bubble inflated this century. they said at the time this is good this time it is different, the market is reasonable, crazy, 5 trillion of value evaporated within months. same with housing. nobody could see a housing bubble. at the new incoming chairman yellen.
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she told the committee she saw none of this coming. 7 trillion of health care wealth within a year or two. so now we have the greatest mother of all bubbles. there is nobody left in the stock market today accept drugged up daytraders and robots who will be mainline by the daily injections of liquidity for the fed. this is utterly irrational. when you drive the treasury rate down to these absurdly low levels, that is the so-called benchmark or cap rate for the financial economy. when they are too low, sub economic, the asset values get bid up too high. the stock market 20 times earnings, same point was added in october 2007 and we're
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hearing the same refrain from the analysts, come on in, the water is warm. connell: and one of them goes. >> exactly. connell: it is always great to see you. thank you. dagen: they are not firing any shots. even as the stock market hits fresh highs, this is docked tail of what they were talking about. warren buffett favorite market signal is telling you. connell: there is a warning. connell: she scares me when she does this, you will tell us where we are all going. >> i think that is a good segue. this is the market signal warren buffett has given his speeches about since the '90s. total market valuation, these
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are stocks whose headquarters are in the u.s. the percent of u.s. gdp, as a percentage of u.s. gdp. and what's this did was called the bottom and '82. look at right now, you can see the blue line. that is the total market. it is exceeding the gdp by 1.22%. the mean for this is .7. the market continued to rise when it wrote through this threshold, but it has been a droppedrop dramatically by 40%. the same as 2007. the fact it hit that mark this year in march is a big debate happening right now on wall street.
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are we in the late stages? back to you guys be at connell: that is another potential red flag. thank you as always. getting the best deal for your health care dollars. obamacare forcing people to be better shoppers, so today we're going to show you how to do that. dagen: these trade on the nasdaq. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the tradg floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell.
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connell: so the president's health care law spending to make people better shoppers whether they want to or not.
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over the years you have probably thrown out the medical bills and let the insurance company sort everything out that that may not be a very good idea anymore. an entrepreneur who has worked with the companies behind lehman water joins us from vegas right now. there's a lot to cover in a short amount of time we have. tell us how you got started in this. life event that you said i had to negotiate with these companies? >> my brother passed away, and when i saw his medical bills i was really confused and realized there is a lot of errors and inefficiency in the system. so i realized there is a lot of pain here and something we really have to address. connell: are doing it with your company to give them advice on how to do it. the current system before obamacare people already in a position that they should be negotiating medicare, medicaid. what advice do you have for people in that situation? >> even with existing insurance
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policies there's always a lot of confusion around bills. you might say why am i paying $60,000 for this procedure or what to these codes mean. part of what we do is help people sort this out because there are more mistakes than you can imagine. 8% of all medical bills have mistakes in them. connell: check the government website, what information is on there that people don't even know is there. >> this is a fantastic resource. it tells you basically what the government pays for every possible procedure out there. think of it like dealer invoice price. you're figuring out what the government is paying because they are the biggest customer, they set the price the same way the fed does. connell: the more information
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you have, the leverage can shift, so that is part of it. as we move onto the new new system, the implementation problems such as they are, as it gets implemented, obamacare, what should people know about that in terms of what they need to negotiate or what rights they have? >> the challenges are still the same. some people may be paying more, higher deductibles so it is good to be a smart shopper. if you know you're going to get an elective procedure, talk to a doctor before hand, i'm interested in having you do this, what is it going to cost, how does my assurance pay for it and can i negotiate a cash price? there are a ton of doctors who don't want to deal with insurance or medical billing for them it is a lot more efficient to pay them the price insurance company pays and you can negotiate that.
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connell: a lot of doctors don't want to deal with it. look at the government website and negotiate. good advice. thank you for coming on, we appreciate it. speak appreciate being here. dagen: i could say going through this negotiate prices with a surgeon is really refreshing because you know exactly what it is going to cost down to every pill you take when you are even in postop. connell: people make an assumption you cannot do that sometimes. they assume they cannot negotiate. dagen: we haae not had to for so long. speaking of the health care law, health and human services secretary kathleen sebelius getting grilled by the senate now including a very heated exchange with texas republican on the botched rollout of obamacare. we will go back to capitol hill for the very latest. connell: home prices have been
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going up. coldwell banker is out with the most expensive and the most affordable markets in the country. cheryl casone and dennis kneale have the ceo coming on next hour of "markets now." sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets
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choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. this of four years ago, stood behind a podium like this and said people are tired of politics as usual, wanted to get things done and we promised we were going to go to trenton and turned upside down and i think we have done just that. dino if we cannot do this in trenton, new jersey, maybe the folks in washington d.c. should tune in their tvs right now. >> chris christie within the second person has governor of new jersey by landslide. i am cheryl casone with dennis
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kneale kicking used to the next hour of markets now. tea party candidate for virginia governor defeated by a slii margin. the future of the fractus gop. coldwell banker breaking down the most expensive real estate markets in the country. we have the names for you and j z in hot water with major-league baseball union's. the delta coming up. all this and more in the next hour of markets now. what an evening last night especially the virginia governor's race which was incredible in that the margins were very slim. we expect a big landslide. the polling showed us that. not the case. dennis: i don't think markets care about those elections but the dow is on track to close at another record high. they must be happy about something. democrats and republicans split
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those elections. stocks now every 15 minutes. nicole petallides, the dow and s. and be looking for another record. nicole: looking pretty good. the nasdaq is down a quarter of a point. the s&p if it were to close at levels we saw earlier it would be a record close, there was an intra-day record all time high helped by microsoft, and a few of the names leading the way, united healthcare, goldman sachs, that is the environment we are in. we are challenging a car highs, we're getting good news out of europe, factory waters, factory news was good news that there may be taking further easing
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measures. dennis: thank you very much. kathleen sebelius says next week is the week we get numbers on how many americans have and rules for obamacare as she faces a tough round of questioning. on capitol hill with the latest, a contentious day. >> republicans, al website is doing. and the finance committee, max baucus one of the chief architect of the laws that was not forthcoming about the problems it was encountering during the rollout of health care.gov. and the president's promise, not proving to be the case and all the cases around the country and senator john koren and of texas wanted to know from kathleen sebelius was the statement accurate?
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>> i ask a simple fruit or false question. is that statement on the white house website true or is it false? >> i think the statement -- >> is it true or is it false? >> vast majority of americans who are insured are in the employer market, in public hands or veterans plans. >> i ask the record note that you have refused to answer my question whether it is true or false. dennis: news from the private sector. humangreta van susteren, chief operating officer saying he expects enrollment numbers will be halved from the obamacare exchanges from what they expect, the enrollment period will be pushed back by the problems with healthcare.gov. they expect the majority of americans that by november 30th the web site system should be up
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and running. and monthly updates. cheryl: she hasn't delivered on promises at all. incredible skepticism, rich edson, great stuff on capitol hill. thanks very much. dennis: a new study says the fed could draw unemployment down faster if it keeps interest rates lower for longer. our next guest says buy stocks regardless, raising rates sooner rather than later won't hurt the economy or the market. investment and enter allen screen and joins us now. let's talk about a story in the wall street journal, who practically sleeps at the feet of the fed chairman talking about a new study at the fed. one guy doesn't do that. he is doing that as his bosses lean in this direction. >> mostly consensus that the fed that the need to cover the policy of keeping rates low.
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and in 2017, not everybody agrees with that but the majority do. dennis: devastating sabers and encouraging us not to say if at all. and even though the outlook is bullish people need to manage carefully. dennis: the stocks are all fraud, all that fraud. and -- >> the fed is going to continue the policy. and going to drive even stronger corporate profits next year but that doesn't mean people should throw caution to the wind especially in the bond side they need to shore and their maturity or risk air. if you had 60% stocks, 40% bonds, that portfolio is 60-32.
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dennis: the respective values? >> 40% back, increased risk -- dennis: you are contradicting yourself. and actually stocks have risen more than bond prices. >> if you are in the market drop, and -- if you have been in the market. end of the market was -- dennis: and describe this as everything. industrial, small-cap cyclicals, looking overseas to europe. what do you not like? >> and interest rates. telecom, avoid those areas. dennis: y and avoiding interest
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rate sensitive areas. and 2017. >> dangerous to think it is dangerous to stayed there forever and the market will start the anticipated change. dennis: nearly anticipating the change, behaving as the changes happen. >> race in billups if there are short-term rates and the care from the long side. dennis: they don't raise rates unless they see the evidence of the economic fulcrum underneath. >> predicting what the fed is a reason to is not a guessing game for many years. and the blondes offer varied little value, 2% 43% return. dennis: i hear so many say that about bonds. good to be with you. cheryl: home prices across the
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country continued to climb. real-estate out with its annual list. and the most expensive markets in the country and of course the most affordable ceo is here with a fox business exclusive. great to hear from you what your brokers are telling you and they are telling you volume is about to go down. >> i'm not going to suggest volume is going down. that prices would trim. cheryl: volume 44% is a week and a half which makes sense, a hot market. >> reality is the continuation of the housing recovery. no one suggests you can maintain the same degree we had over the last couple years. has you move forward every evidence is we have room to grow in terms of prices. if you look at the medium price, we see 186. and a return to a more healthy and sustainable rate of growth.
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cheryl: stress assets and not being cleared out. and shut down data you pull together, what did you find? >> this is simply a benchmark looking at four bedroom, bathroom homes across the country. and great disparity year over year prices are up peer over year. this is looking at list prices and 1900 communities versus actual sales prices. and ignores the national trend where real-estate is local. >> and the top five in california. and that is all silicon valley. and this is where investors continue to look and you say cleveland is still a great deal
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right now. and in mississippi, violet, georgia. is that where the investor is going? >> most of those have been drawn to the major markets. and employment opportunities. when a look at the lower, most affordable ranges as far as the -- these are markets that are on the interior of the country. and the performance overall, in many cases, take cleveland, research and revitalizing. cheryl: frustrations with family and -- faherty and freddie, the crux of the lower sales market for the last two years in particular, not backing those loans. i you finding financial and freddie unbecoming -- less bureaucratic than they have
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been? >> and in terms of the stringent guidelines associated with mortgages. and prices increased slightly increasing as we would anticipate. and due to fed policy, what we find is the offset should be strong her overall economy. as well as listening credit guidelines that allow you more people to get back in the market and release the pent-up demand we still know is bare. sherpa as you think there's pent-up demand. >> of a look at what has occurred less easily and increases in sales but the change in ownership is not measurable. so we still know there's a pent-up demand especially first-time buyers with to get back in the market. cheryl: thank you for speaking with us exclusively. the data does paint a true picture of the market right now. caldwell banker, thank you. dennis: click expected to fight to end debut tomorrow on the stock exchange and coming up
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with an analyst who says this is 1999 all over again and meaning it is bad. cheryl: the portfolio stopped which is not a good thing. music mogul j z in trouble. we will have details on that coming up as we go to break. tickled get the energy markets and continue to what oil, closer to $90, 95. we will be right back. when we made our commitment to the gulf, bp had t big goals:
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cheryl: we are going to talk about this later on, wanted to show you going. and in positive territory. in negative territory the impact are not felt. i watch this one i always look
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at the group of industrials. and i want to show you something, charred activity on boeing and why it is important, it will be built. and some good news coming through somewhat today. let's bring in nicole petallides. we are watching big nations in retail, aal of this sector. nicole: it is of funds sector. especially when we come on the holiday season. let's look at these retailers, abercrombie and fitch, ralph lauren, jpmorgan and luann, lulu women. abercrombie is down 11%. and forecasted short of expectations. and they are working on a
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turnaround, some strategic initiatives. we are watching j.c. penney with a turnaround of its own and lulu lemon getting positive comments and there was talk about the groovy pants, which citigroup has a buy rating and $80 target. and ralph lauren has wholesale orders, four retailers that we know well and will follow through the holiday season. cheryl: that was great. thank you very much. appreciate it. dennis: the players union for major-league baseball looking at the relationship between j z, newly minted as a talent agent and his first client robinson cano. jenna is the guy and a $40,000 watch for his 30 first birthday, limited edition classic fusion sean carter watch and party in
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october. and notify the union in writing if it is more than $500. started in june. cheryl: does it really matter if it makes sense? been not. dennis: the entire economy and country needs it. cheryl: there are a lot of lessons being learned this morning. we will discuss the future of the fractured republican party coming next. dennis: paula and the gold medal swimmee and reality tv star suffers a major injury after an encounter with a and. details next as we go to break. let's look at how world currencies are faring against the u.s. dollar. the dollar is weaker. ♪
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>> 22 minutes past the hour your fox news minute. secretary of state john kerry says the u.s. is providing an additional $75 million in aid to create palestinian jobs and
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improve roads, schools and other infrastructure. the aid is designed to boost palestinian support for peace talks with israel. mike duggan is the new and peer of the toilet, us seeking bankruptcy suffering violent crime and blended neighborhoods. he is also the first white and harry elected in the predominantly black city in 40 years. he defeated wayne county sheriff danny napoleon. paula vix one derian walkedy, elegant in his knee after what his publicist says was an encounter with an enthusiastic fan. she ran toward and it tried to catch her but the two fell and he hit his knee. those are your headlines in your fox news minute. dennis: as luck cashing out with better than expected earnings
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and posting the biggest one day drop since january of 2012 after an electric car maker surprised the street. charles: they had to have a perfect outlook. this has been a quintessential moment and then driven by very high topline growth. month to month and quarter to quarter things will be the same sort of hurts the lot because your point even what they call the vehicle gross margin which is the margin per vehicle will be 25% the current quarter. that news moved if they could have said we will move a couple thousand more cars but the problem is the access to get the battery, the demand is there. dennis: a single pannier, look at other stuff that is undiscovered. would you instantly rule out any
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stock, hundred% in the previous year? >> take it more as a trading vehicle than an investment vehicle. and office depot more of an more volatile highfliers, more trading. cheryl: a question about a company like tesla, the average retail investors see more stock. charles: it is expensive for the evaluation. i don't like when people say it is an expensive stock. must stop the $100 a share are cheap. based on earnings the think is 185. september 20th pitt $123 and pull back, made another move in october and at $183 and pulled back end november 5th it bounced
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back up and hit $176 so you already saw the pattern, making lower highs. elon musk says the stock is a little too rich. dennis: there's a lot going on like a crowded restaurant. everybody goes there because everybody goes there. i want to see more money selling cars and energy pollution credits created by a california state. peter: for the vehicle gross margin is good because it xs out zero emission the you talking about. that is a good fundamental barometer. i will say we took profits on it and ipod on our web site we say we will probably buy a 150. dennis: no you won't. two key numbers. charles: 1240 technical support number, and 200 in moving average. dennis: goes down farther -- charles: it could. dennis: thank you. election 2013 in the books.
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results may have republicans rethinking their strategy. cheryl: speaking of government the financial headaches continue for the u.s. coast office. we will ask general patrick donato what is next in fox business exclusive interview today at 1:30 p.m. eastern time on markets now. let's look at the winners and losers on the s&p. 150. [ bagpipes and drums playing over ]
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dennis: a big win for springsteen fan and republican moderate chris christie but a big loss for the tea party in virginia. what it means for midterms coming up. twitter at the stock exchange tomorrow whether you should along for that ride. and rated after feminist, a new rating system for movies looks to boost the positive image of win in and film. let's go to nicole petallides at the sttck exchange. nicole: i will put microsoft and the dow together. setting a record highs. the dow was up 100 points, 99 points, 50,715. microsoft on the dow among chevron and goldman sachs. and who will replace steve
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ballmer? we know alan mulally at ford is a contender. and other names being thrown according to sources, and tony bates. and turnaround expert. and in consideration for the top job which we continue to follow. and it hits a new high. cheryl: election night 2013 in the books. and major implications heading into the midterm elections. and republican governor chris christie cruising to victory last night over democrat, and the same cannot be said for va's
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republican gubernatorial candidate who lost a highly contested race with terry mcauliffe. and new jersey and virginia may help define the dilemma for the republican party going forward. let's bring in republican congressman from michigan peat huckster. great to see you. we had this incredible race in virginia and ended up as predicted a referendum on obamacare. and the result in virginia. >> it got close in the last couple days. the difference between the call that was much greater than the final results. and in 2014 obamacare and one of the two major issue is the finding of a ballot. in 2014, a long way away.
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cheryl: 2014 is one year away. >> a lot can happen in 12 months that define their voters in the polling booths. cheryl: greta van susteren and out of virginia, it was all about obamacare. they were opposed to obamacare, 53% voted and 45% did not. and they oppose the obamacare. what does this mean for the democratic party on the national level for 2016. a switch between the president and governor of virginia in 20 years. is this a referendum the democrats will grab onto? should they? >> i don't think they can hold on to virginia and state this is a good indication where we are headed? if i were a democrat on would be
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nervous because what will be fine 2016 will be what happens in 2014. that is very much an undecided situation, very unpredictable. if the other problems with obamacare, people losing insurance. costs going up, young people not signed a 4 obamacare, that continues to be the next story for the next 12 months the democrats are going to have a very bad 2014. that will set the plate for 2016. cheryl: looking at that from a congressional level, who will be running in 2016 against each other, and a good bad thing for hillary clinton, some believe she can put a stake in virginia if she decides to run and many believe that she will. >> there will be a lot of
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discussion about miss clinton over the next 12 to 36 months. she will be a candidate. right now she is the odds on favorite but there are a lot of questions about former secretary of state, her performance, benghazi, foreign policy of the obama administration for the last five years of which she was one of the principal architects. there are lots of issues. it will be a fascinating 36 months leading up to 2016. cheryl: chris christie, take a look at this. that is what president barack obama does. does this mean anything to you? >> chris christie has done a phenomenal job. republicans don't necessarily need to look to him for what their message needs to be in
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2016. what chris christie did in new jersey is exactly what republicans need to do on the national level. having a united -- cheryl: that was the same stevie wonder song, president obama used. this is a signal from chris christie but he will go pretty moderate and that is what the gop needs. >> chris christie would be a strong candidate for republicans and his ability to connect with the audience and voters he needs to contact i think he can connect with the enough voters a good possibility of being the next president of the united states. cheryl: to be continued certainly. good to have you on. dennis: this is nuts. steve taking 150,000 pounds of walnuts in california. it could be a big payday.
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cheryl: shares of twitter, the next social darling's prepares to hit the stock exchange. it is 1999 all over again. take a look at the ten year treasury. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a stier and had them show us. we learned a lot of us have known seone 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 su you have the money you need to enjoy all of these years. ♪
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>> mortgage applications by 7% reversing previous week's gain according to mortgage bankers association's 60% of applications were for refinancing. the average 30 year fixed rate mortgage interest rate fell to 22%. starbucks plans to hire 10,000 veterans and military spouses, the largest coffee chain says it will match unique skills and veterans like team building and supply chain management jobs within the company and index of leading economic indicators rose by 0.7% in september, the same increase posted in august. economists say the u.s. economy should grow modestly over the next three to six months. that is the latest from the fox business network giving you the
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power to prosper.
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dennis: time to i p o like it is 1999 were twitter it takes a streak many investors are excited but others are cautious about finding solid profits in the one 40 characters or fewer than that. we and david dietz, president of point of the wealth management and scott kessler, senior equity analyst at s&p capital iq. that is all we have time for today. thanks for being with us. you worried this ideal market, floppy and hyperventilating. >> similarity between social hand-held mobile cranes and the dot.com boom very similar. we have the raging bull market and we have to go to the ipo and social media stocks that are -- internet index at the highest valuation in the market in the last six years and being asked
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to buy stocks that not only have no profits but their losses are accelerating. this is the time to be cautious. dennis: companies going public with $1 trillion in revenue. not text.com. >> i do remember covering internet stocks back in the day. twitter is somewhat different have. it is a global company. it does, we think, going to generate $600 million in 2013 revenues, but as your other guests referenced, lack of profitability, the implications of trading at two times the price to sales multiple of facebook. that is something people need to be mindful of. the reality is people are interesting in the first day pop, not digging in to the fundamentals and risks we take?
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dennis: you are not a buyer of twitter. >> we put on a report on twwtter, we did not issue a recommendation but we fought an appropriate valuation from market cap perspective was roughly between $11 billion, and $14 billion. if you look at what people are looking at in terms of potential pricing we talk about in excess of $20 billion. dennis: you can draw your own inference. >> even if you are right on the fundamental stock could go up anyway. >> it could go up but we have got clients interested in facebook, told them to take a pass, opened in 38 and look what happened to groupon and zynga. it is not a slam dunk. dennis: is different this time. investors are starting to feel better and if twitter goes up on ipo instead of down you could see the stock market take an
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optimistic and from that. >> it is very possible. the stock market has been doing very well, thank you very much, over the last 2-1/2 years. the way i would say people should be thinking about twitter is you are absolutely right. it could go up tomorrow and for a long time. the way we think about it is people need to be informed not only about the fundamentals but the risks before they make those investments. dennis: is there a chance you both are guilty of being fraidy-cat year? you get in trouble when used tell someone, don't get in trouble when you leave money on the table and tell them not to buy something. >> most of my clients are a lot less happy when they make money vance and when they lose money. probably gain, anything could happen but the odds are among out the price will be lower than where it is. we all like revenues, expenses greater than revenues don't work
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force. dennis: now we are talking 27-share. you point out one increase in fundamental in the last four to eight weeks was worse and thanks a lot, thanks. cheryl: fox business stock radar today we are trying to gauge the upcoming forecast for apple shareholders. big piece of news crossing today. they closed information requests they receive from government around world making it one of the last tech companies to do this. all of this tied to the controversy with their collection by the nsa between january and june. 2,000 account requests that affected almost 3,000 apple accounts. also samsung, an executive telling an analyst they plan to topple apple has number one in the tabloid market, a big worry for apple in the u.s. tablet market because apple right now is the biggest name, you also want to watch a name like
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hewlett-packard and take a look at apple and samsung making that, ibm and apple. microsoft, cheaper to produce than the original idea. look at the stock. here is the 1-year stock. this is actually over the last year but this stock year to date is trending pretty volatile. you can see a little bit of volatility and a look at what last year. the one your chart of apple, $0.17. this stock is down year over year. little bit, 5% or so but excuse me, intel and not apple, pardon me. a lot of data to go through. apple is down over the last year. the s&p 500 up 26% so the question here, looking at a stock like apple, do you want to buy it while it is lower or are you concerned about what samsung
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is saying and the nsa issue on this one. that is the fox business stock radar. over to you. dennis: futures jumping today after bigger than expected drawdown in inventories, trading intimacy any, phil flynn. ashley: dennis: we are seeing demand response back in the market. phhl: people like $3 a gallon for gasoline, filling up again. we saw a big jump in gasoline demand probably in response to those prices. gasoline production actually fell last week. part of that could be part of the refinery problems but the lowest imports into the gulf coast of oil and gasoline since last february, we don't need to import as much because we are producing more of our own. futures across the board current supplies a record high with this
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kind of year higher than normal but still oil is back up because of expected demand run up to make up for the last guest supply's. dennis: thank you, phil flynn. cheryl: time for west coast minute, multimillion-dollar fight over food labels failed to get passed in washington state. voters were asked if the use oo genetically modified food should be labeled and packaging. big win for companies like coca-cola, pepsico, general mills, spent $20 million, it to defeat this proposal. stocks are higher, not related to washington state but this is a big win for these names. colorado two high-profile referendums on the ballot, voters said yes to tax recreational marijuana which became a legal substance, 20%, it was a mixed picture for 11 rural counties who asked whether they wanted to secede from the united states of america and for not 50 first state called no. colorado.
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it would never pass the u.s. congress so doesn't matter but that is what happened. finally in california, the great wall not paper, thieves stole $400 worth of california walnuts. they are actually big money and got away with several truckloads stolen from roger the bear river origins north of modesto. walnuts are california's leading agricultural export and very nice. that is your west coast minute. the great wall and the caper. dennis: forget rated r. how about rated for feminist? new guidelines head to sweden in the media minute. cheryl: taking a look at winners on the nasdaq as we go to break, some names for you. microsoft again. when we made our commitment to the gulf, bp had t big goals: help the gulf recover and learn from what happened
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dennis: watch out catalog process, your future is calling. one day you could be delivering netflix style streaming to customers who pay only for internet access. charter communications is prepping internet subscribers through 26% last quarter of it from people getting access only, no video. comcast offers internet access with age feel and a few local stations, and netflix in talks with cable operators for net streaming on the box. amazon helped kill the independent bookstore. amazon will lead independent bookstores sell kindles and pocket and% of all but e-books the customer buys from amazon
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for the next two years. the hair of the dog that bid from. remember the swedish bikini team. swedish movie theaters have a new rating for a gender bias. a movie gets and she only if it as two or more nicotine out characters who talk to each other about something other than a man. the lord of the rings trilogy, star wars films and all but one of the harry potter film's fictional this test. cheryl: coming to a galaxy knew you, if you want to join the likes of luke, hawn and princess led denny has -- disney has announced an opening casting call for ten roles in the next star wars film. auditions began later this week in the u.k. and ireland which produces a looking for a female in her teens and a male in his early 20s. disney has not confirmed casting is for soars but production and a film is set to begin in spring of 2014 and it will be big. dennis: remember the original star wars those guys were a little less known kicking and big stars.
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cheryl: twitter's achilles' heel. next hour of the founder of search marketing term joining adam and laurie with a warning ahead of the much-anticipated ipo. this is a losing $6 billion a year is a good thing. postmaster general patrick on a hole on his effort to turn things around at the united states postal service. an interview with you will find only on fox business. weekdays are for rising to the challenge.
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>> less than 24 hours from the social media giant debut on the new york stock exchange. adam: before twitter prices tonight, word of caution investors may want to hear first. the founder of internet marketing firm on twitter's advertising problems. lori: new highs on industrial average between a investor warren buffett favors the market is flashing warning signs.
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could he be right again this time? adam: cash crunch at the u.s. post office, we know money is tight, but how bad are things today? we will ask the man in charge. postmaster general and ceo of the u.s. postal service joins us in an interview you will only see here on fox business. lori: it is a basketball court, no, a soccer field? an up close look at state-of-the-art stadium and big bucks behind stores, sports arenas all across the country. adam: we are seeing some solid gains on wall street, are we getting some moment, with what is happening tomorrow with twitter? nicole: that stadium looks cool. the stock market looks pretty good. we are waiting on twitter. the dow jones industrials up 97 points at the moment up more than a half of 1%. as we hit new record all-time

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