the virtual currency soaring above $600 as congress debates its legitimacy. federal agents warn about it being used to launder money. dennis: apple looking to go 3d. is trying to buy the company trying to buy the 3d cameras in the 360 connect. lori: as we get the update every 15 minutes, nicole petallides. major milestones be at nicole: it sure is. record day on wall street. not only a record, but some key milestones. dow 16,000, s&p 1800, that is where the big deal comes in because the truth of the matter is this has been a record year on wall street. the dow on track for its 39th record close on the year. that being said, the vex has done a bit of a turnaround. on friday we saw it at three

month lows, three and a half month lows, today up 4.25%. at these levels the are they bee more cautionary on wall street? that being said when you look at the s&p 500, there is resistance at the 1802 level. while 1800 sounds like a great level, the traders and analysts looking at 1802 as the resistance area. lori: thank you so much, nicole. dennis: a stock alert. we are watching of microsoft on a downgrade from comerica merrill lynch. cut in the stock to underperform on neutral citing challenges to the you have to be named ceo. tech giant may be getting closer to replacing steve ballmer. meeting today to narrow down that list of candidates ahead of tomorrow's shareholder meeting. lori: and sony's new playstation's off a strong start, over 1 million councils sold within 24 hours lunch.

the speed is the first updated videogame system in seven years. dennis: hoping to sell 5 million by march. reports of some glitches here and there, but they say this is within expectations of a new product launch and appeare appee isolated incidents. lori: tim geithner moving into the private sector joining the private equity firm in march as the company's president and a managing director. he has stayed out of the spotlight after stepping down in january but working out a book of the financial crisis do next year. turning to another former treasury secretary, larry summers morning sluggish growth could be the new normal. holding short-term rates at zero. but the move has not kick started the economy as it has in the past so central bank edit several rounds of quantitative easing to help move the economy, but with all of these extraordinary measures likely to

stay intact for years to come, he essentially warranted the central bank will not have any ammunition to fight a future crisis. summers said it is not over until it is over and argue people have to take a closer look at how to manage an economy where a zero interest are the norm and could possibly hold back economies from their full potential. dennis: summers, who may be stung from losing out to janet yellen, warns investors should be cautious. jo ling kent is here with those details. >> they are warning against a tendency to get too hot about investing in china and india. before china's third move, they say don't count on the growth in asia to continue, in fact they warn that rapid growth in both countries could come to a screeching halt without warning saying pitching the cart to the horse of the asian giant carries

substantial risk. then said don't specify exact obstacles in the paper that would slow them out, but say draw on patterns over the last century predicting episodes of super rapid growth tenant to be a short duration back to the world average growth rate. ultimately they call their research the $42 trillion question, a difference in gdp over the next 20 years if china and india stay on track with rapid growth versus growing at the global average, dennis. lori: my next guest says emerging markets down 5% give or take this year present a good bargain after al a u.s. marketse up 22% this year to date hitting new milestones right now. the chairman manages $28 billion in assets services.

grateful to have you, welcome. i am looking at a dow 16,005 right now. overvalued, undervalued, properly valued? >> i think it is probably very close to properly valued. not overvalued, and not as undervalued as it used to be in the past. lori: why do you see that, and do you see a correction coming? all of the blogs say if you are a bumper sticker, too bad, we will not get a crash but we could get consolidation. >> we always had a possibility of getting a correction but forecasting that is very difficult, so i would not try to as an investor i would not try to forecast a decline. dennis: fairpoint. which leads me to my next question. this seems to be a prime time for bargain hunters because they are elevated and emerging markets present unique opportunity. indeindex off 5%, brazil for its

part is even worse off than that. the story has been struggling with commodities and prices down. the u.s. tapir scare earlier this spring sent a lot of money out of emerging markets. why are you changing your outlook? >> you said it pretty well. the market is actually an emerging market and is down from a long-term value investor standpoint that is what we really want to look at. buy low, sell high. they're more interested in buying when the market is weak. >> why they not risk factors for you? >> they are, but when you look at the emerging market companies as far as the valuation of those companies for standpoint of a long-term investors, they are so much more attractive than we've seen some some of the north american u.s. markets.

lori: give me an example. >> if you look from the standpoint of the future for their company, it is very, very good. the stock price is quite cheap. they are a gigantic company with huge reserves that they are developing over the years. i would not buy it for standpoint of a trade, but from a standpoint of three to five years from now how well they could be doing. lori: i had to ask about the china story. hong kong big overnight after the reform announced last week, are you buying on that? >> a little bit on a selective basis. not the whole market in china. you have to be a stock picker to do well in that market today.

lori: it was interesting reading the counter argument, one being that the government fixed-price companies may actually now do worse under these new economic reforms. do you see that as being a factor at all? >> at absolutely could be a factor. yet look at that when you look at these various companies in china. some companies in china you should avoid but that would be some of the five largest banks in china. they might have some trouble coming up in the future especially on infrastructure type projects. the consumer area can be very attractive. lori: for the longtime consumer, what percentage of his or her portfolio should be made up of emerging markets stocks? >> generally the percentage is 1-5%. look at emerging markets and how

large they are, how strong they are, and how much they are growing so fast. i would say to answer your question directly you should have a minimum of the index weighting, 13%. lori: most of us are underweight then. >> yes. lori: appreciate you coming in. >> thank you very much. dennis: blame edward snowden? is it has to do with the nsa spying fallout. lori: we speak with coldwell banker and president and chief operating officer. dennis: fools gold or the real deal? legitimacy of bitcoin surging above $600 per coin in hopes of a d.c. blessing. ya know, with new fedex one rate

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lori: apple once again expanding his horizon to get into the 3d arena. apple is in talks for $345 million deal to buy the company. the company behind 3d scanners and using microsoft xbox and kinect a gaming device combining cameras with depth sensors. dennis: the reason it is interesting is what would apple want to do with this technology used in the microsoft box? its own game system, use it for television? lori: there is that. i thought it was a step ahead for apple. apple might have, might need more than monetary compensation.

dennis: lets go to bitcoin. bitcoin soaring to record highs today for something that doesn't exist in a virtual currency catching the attention of d.c. lawmakers. joining us from washington. peter: policymakers and law enforcement officials trying to get their hands over how to regulate these virtual currencies. the most popular is the bitcoin, global digital currency that is not issued or backed by any government or central bank but it can be used to purchase goods and services as long as merchants accept them and ultimately they can be converted into cash and very low fees largely anonymously through special exchanges. now the price has been volatile in recent months but soared to about $600 per bitcoin in one exchange today ahead of a senate hearing this afternoon on the risks and benefits of virtual currencies. a justice department official will say the department "recognizes many virtual currency systems offer

legitimately financial services and have the potential to promote more efficient global commerce." we have also seen however the certain aspects of virtual currencies appeal&r and present a host of new challenges to law enforcement. just last month for example federal law enforcement investigators shut down a bitcoin website charges operator with using it to facilitate $1.2 billion in drug deals and other crimes including murder for hire. policymakers are taking care and regulating virtual currencies to make sure it doesn't kill innovations providing legitimate competition to banks and currencies at lower cost. in a letter to officials today fed chairman ben bernanke said despite the risks, there are areas in which virtual currencies may hold long-term promise particularly if the innovation provide a faster, more secure and more efficient payment system.

dennis: okay, peter. no way to crack down on a way to pay the old mob hit, free cash. lori: let's go to nicole on the floor of the new york stock exchange. you have some tech names in focus. nicole: this is a very big story we talk about systems like hewlett-packard, microsoft and ibm, they have all recorded recent weakness in china but the question is to what extent. for example cisco said orders the latest quarter fell 18% in the same time a year ago. cisco and on to say they're really getting the chill even questioning is it in retaliation almost for u.s. restrictions on certain chinese companies or is it revelations about surveillance from the nsa trying to dig deeper into this. in the meantime to put out a note talking about downside risk

for some of these companies including alert packard and cisco systems because of china in particular. back to you. lori: we will see you in 15 minutes. dennis: let's make a little money with charles payne. charles: i've mentioned this stock a couple times before. how is said there were three numbers i liked in this business, 20, 35,005. after that era show, number will go a lot higher. this company has three areas of business. the seating, interior, engineering, thermal. the last quarter the business is up 34%. the market exploded. again, i have to tell you

something, trading 2.5 times sales, this kind of top line growth i think they will continue to move higher. dennis: you would think they have a sense of humor. >> it is so funny. you know how i discovered this company? and they were ordering the new doors. that is my first initially discovered it, obviously ably associated with this is going very well. just a segue a little bit. the global economy being amazing. the average american, it amazes me why they never talk about it. not apple being 66% of its revenue outside of this century. who heard of these airlines? 26 billion from boeing.

it is amazing, people need to wake up. a global economy not the same as the one you're looking outside your window. lori: this looks like the best deal in town, commodities coming down, our monetary policy. charles: the number one market is china. that is a lot. dennis: the rest of the world is finally getting richer. thanks very much, charles payne. lori: that is a gift, charles. turns out more than a few surprises since obamacare but little-known failsafe and maybe left taxpayers with the bill be a dennis: happens in vegas doesn't always stay in vegas.

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>> at 23 minutes past the hour,

i'm lauren green with your fox news minute. if people dead after powerful wind and try to struck much of the midwest yesterday. six people killed in washington after a nato tour through the community, two other deaths reported in michigan. a russian plane went down. 500 miles east of moscow. russian officials that was making a second landing attempt to crash. the skills and into pilot error or equipment failure. and a disagreement over same-sex marriage between the two daughters of former vice president dick cheney is going public. running in a republican primary for u.s. senate seat in wyoming says that she disagrees her sister who is married to a woman over the issue. she spied on facebook, "you are just wrong." those are your news headlines on the fox business network. now back to you. lori: thanks.

president obama's promises on obamacare. >> i will not sign health insurance reform as badly as i think it is necessary, i will not sign it and that reform ads even one dime to our deficit over the next decade and i mean what i say. lori: that was back in 2009 is now we're learning a failsafe written into obamacare protects insurers from losses while sticking taxpayers with the bill. rich edson in washington, d.c., with this angle of the story. rich: president obama's fix may be expensive for one year the administration is a long insurance companies to reissue the plans obamacare is phasing out. america k of actuaries say that's change means consumers may face higher premiums which still may fall short and cost insurance companies. they may try to recoup those losses in 2015 by raising premiums further and it may cost the federal government because of a provision in the law creating risk core doors.

allowing the government to subsidize insurance companies if they fail to enroll enough healthy young customers. republicans are collated insurance bailout saying it means fewer young healthy premium payers and obamacare plans and more of a burden on the government. >> this is a fundamental problem with obamacare that it tries to get insurance companies to do what is against their financial self-interest and subsidize them so they don't go broke. but it is being made worse by the problems with the rollout. rich: latest analysis of obamacare says the law cuts enough from medicare and taxes enough to cover its costs yet the cbo released those estimates before the botched rollout of healthcare.gov and before the president announced his accommodation last week. likely any update and spending if it adds or subtract them the deficit would likely come out in the annual budget review expected early next year. back to you.

lori: thank you, rich. dennis: watch out online gamers. sheldon is coming after you. the casino tycoon and mega-donor launch a campaign to persuadex@l congress to ban online gambling by betraying it as a danger to children and those who could be exploited by easy access to internet gambling. unusual arguments from one of the largest casino owners in the world. he plans to rollout inefficacy group to stop internet gambling in january. three states allow and regulate in-state online gambling. nevada, delaware and new jersey. in new jersey they said but online sites can be run only by currently approved casino owner companies in new jersey so his argument against his own future business. lori: talk about shooting yourself in the foot. and gambling bets that paid off. i'm talking black 31.

dennis: i've been the kind of ran off. lori: breaking news, we want to bring you the kennedy space center, this is life, let's listen. >> main engines start, and lift off of the atlas five looking for clues in mars of its atmosphere. >> everything looking good, still at 100% thrust. vehicle rates are looking good. right as expected. controlling the mix ratios. looking good. thrust looks good, speed is good. vehicle operating as expected.

lori: nasa launch always so exciting and so far so good. the goal here to obtain critical measurements of the martian atmosphere and help understand climate change over the red planet history and what it means for us here on earth. fascinating pictures released late last week of the mars atmosphere looks like 4 billion years ago, it was like here on earth and the big mistress was strip the martian atmosphere to make it the barren planet it is today. dennis: that is a lot of rocket for a little robot. i think $670 million kind of a cheap price tag. lori: i think it is fantastic if we are continuing this research, and lots to learn that could ultimately help us on earth. this atmosphere question is really important. let's go back to the market, the dow up 50 points.

fox business senior correspondent charlie gasparino with the latest timelines on a deal. dennis: another day come another record on wall street. the dow and s&p 500 are trading up past new all-time highs. lori: unbelievable. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments.

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dennis: time to check in with mark on the markets. mark newton, gray wolf execution partners on the floor of the nyse. mark, you have the dow and s&p both touching new milestones today. >> that's right, dennis.

historic milestones. dow not too long ago was at 15,000. now we're at 16,000. the s&p at 1800. what does it all mean? the numbers are not that important. last few years only number that matters, prices can cluster around these levels. people enjoy round numbers much more so than odd numbers. dow 16 sounds a lot better than dow 15,981. the market is pretty stretched at these levels. one thing is interesting, emerging market are start to participate again. outperform over last few days. financials as well which have been a real laggard over last couple months. we're seeing steepening in the five, 10, yield curve. financials are starting to get a nice bid last week. dennis: we took 66 days to debt from dow 14-k, to 15-k. took 166 days to go from 15,000 to 16,000. is the last gasp of a tired bull or start after new leg up where

optimism means more optimism? >> i owe you dinner. i didn't think we would get to 16,000 that quickly. dennis: bingo. >> my opinion we'll not get to 17 right away. the market is extremely overbought. high level of optimism here. everybody thinks this is the worst behind us, we can push straight up year-end. eventually that might happen in the next spring, that the market has come too far too quickly for now. dennis: getting hyperventilated. mark newton, thank you. >> thank you. lori: investors wait the jpmorgan settlement with the justice department. what exactly is holding it up here? charlie gasparino with the latest on the saga. >> remember the shakespearian sonnet, tomorrow, tomorrow creeps in at petty pace? this is what is going on here. this was done a week ago. jpmorgan agreed to certain things. justice department abreed to certain things and just needed to be approved, we think, i think because my sources close to the bank this thing will get announced i was a betting man,

tomorrow might be a good day, wednesday. unless there is another screw-up, and i don't think this is this thing is done. here are the basic parameters. jpmorgan pays, pays through different mechanisms about $9 billion. they have already paid for 4 and $5 billion for fannie and freddie related claims. these are mortgages, faulty mortgages that were sold through some of the banks they inherited like bear stearns and washington mutual and some other bad things they have might have done along the way. it comes out as concessions to homeowners, direct fails about $9 billion. this is kind of the interesting thing about this of the jpmorgan agreed, at least tentatively until they ink the deal, all bets are off, this is what i understand, agreed not to seek money what remains of washington mutual. remember washington mutual. they took part of it, the carcass of it. there are claims and bonds and all stuff where you can put claims in to the fdic.

they have afreed not to seek, not to seek, become a creditor to try to get money out of what is left of washington mutual. that was a key thing. other, they thought they had the authority under their agreement with the fdic that they crafted when they took over washington mutual in 2008 to seek some of that money. they have agreed not to go after that. that is the two main points. now here is the interesting thing we as journalists have to pay a lot of attention to and if you're a shareholder, own the stock, if you care about. they will agree to make some concession of wrongdoing. now from what i understand, from inside the bank that concession is not like we're guilty of fraud. it will be something a lot less, something, quote, unquote they can live with. depending on that language you can get an idea exactly how much money they will pay in private litigation. there will be share hold that's sue them. as soon as that language gets crafted, plaintiff attorneys or ambulance chasers, whatever you want to call them will be looking at that language to try to go after jpmorgan.

so that's key. we have to see exactly what keep of concession they agree to. i hear from inside the bank it is not that onerous. >> remind of us reserves jpmorgan has and all of this will affect us? >> they set aside 23 billion. lori: they still have cushion. >> this is bank that makes $23 billion a year. did that last year. might replicate this year. they make a lot of none any. the one thing that is kind of interesting when, you talk to people inside jpmorgan, what is the endgame? is this ever going to end? they don't know. that is the scary thing, if you're a shareholder of this bank. other thing is this, they're probably not alone. you can see bank of america get hit up, not the same amount of money. they're, justice department is looking at them in the same way. and what is the endgame for the justice department. here is the interesting thing, when you talk to bank executives, just keep going after them with rolling lawsuits for, you know, for now until the end of barack obama's second

term as president? or, do they have some sort of a broader plan as to go after these guys, make life so difficult with this sort of stuff and capital requirements that they force a breakup. that is kind of an interesting thing. this might be, a lot of people inside the banks, endgame for the government is to break them up through this sort of stuff. that is something we'll cover going forward. anyway the news will be next couple of days, we think, and, then, the second day story, is what's the end game? does the government want to break these guys up? is there going to be more left? is bank of america and other banks, i hear bank of america is next bank to go through the mill. they will put through the wringer. how much will they have to pay? lori: got a quick second what do you think of geithner going to warburg pincus, the private equity fund? >> he was telling people he would go into private practice. lori: just as an md, not a position. >> danced with larry fink to go to blackrock.

would be hard to go from him as black cock with optics standpoint. blackrock got so much business out of the fed where he was head of the new york fed and treasury, got so many business out of the fed following bank bailouts. known to be very close with larry fink. that might be a problem with him optically. he goes to a bank, private equity firm not totally emersed in bailouts and things like that which makes a lot of money. what is interesting, his president, the guy he served for many years, and the political end of the white house spared no expense going after private equity during the campaign. they made it sound like private equity was akin to being, working at a gulag or something like that. if you worked at private equity, you were basically a bad guy. mitt romney, as you know started bain capital. funny people like tim geithner go to private equity. >> interesting. president and managing director is the official title. >> you know what that means?

lori: what? >> that means he will get them business. that's it. >> appreciate your insight. see you, charlie. see you soon. dennis: retailers doing their best to get shoppers in the door early this holiday season. will be about more purchasing or perusing? surprising results of a new "gallup poll." lori: bad kids, not finished yet, doing more good deeds. how you can help. ♪ ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade.

>> i'm cheryl casone with your fox business brief. global global has been ordered by a federal judge to return to billion billion collars who lost money the commodity firm 2011 collapse. mf global will pay additional one million penalty as part after civil settlement with the sec. "wall street journal" reports the london stock exchange, nasdaq omx and deutsche boerse each discussed possibility of making offers. ice agreed to sell euronext as part of receiving european regulators for the purchase of nyse euronext. sat can hired a consulting firm, ey and formerly known as ernst & young to verify the finances. to verify the economic activity as part of pope francis's economic report.

that is the latest from the fox business network, giving you the power to prosper.

lori: 16,008. what do you think of that? dennis: i'm looking that. lori: nicole petallides on the floor of the new york stock exchange. this would be another record close, like, 38th of the year. >> that is combination of the two. one is the 39th and one is the 37th. right smack in the middle would be right on. mixed market with the nasdaq pulling back. dow and s&p are looking great here. certainly a winning day on wall street and a record-setting day. people are feeling great if you're bulls out there. a quick look at tyson foods, chicken, pork, beef, et cetera. a winner in the s&p 500. it's a real leader, up 1 1/2% off the earlier highs. better than expected 28% rise in the quarter in the operating

profit and sees some good news ahead as well. just fewer costs for them. back to you. >> thank you, nicole. >> e-commerce has been a source of competition at brick-and-mortar stores, right? how about this irony. our next guest says online retailers are the very thing driving construction, real brick-and-mortar buildings and commercial real estate. fred schmidt, coldwell banker's commercial real estate president and coo i love this idea. we'll start with a broad outlook for commercial real estate in 2014. never got hurt anywhere near as bad in the meltdown. what are we looking at next year? >> dennis, great to be with you. 2014, we're seeing supply gradually decreasing, demand increasing and stabilization of rates. supply and demand factors are shaping up. dennis: how dependent is commercial real estate on cheap, cheap interest rates where homeowners count on to buy homes.

>> it is interest rate sensitive. there are recognize and other things come into the equation with regard to interest rates. if you're seeing upward pressure into interest rates going into 14, you're seeing rents somewhat offsetting of that in terms of going up or down. there are three or four factors. dennis: let's cut to the amazon syndrome we'll call it. talk sectors. industrial is up. because of onliners. >> industrial is just supplanted multifamily and apartments as a key investment and development area for 2014. e-commerce is a big part of that. the supply chain such as amazon across the river here in new jersey, they're building a million square footer. we're seeing that across the country also. dennis: we use to think, amazon, doesn't have to hold inventory. of course it does. it has to have stuff to ship. >> absolutely. there are millions and millions of square feet. not only that retailers are holding inventory and getting down to smaller markets to get closer to the consumers and just in time and same day delivery. dennis: right. another hot sector, multifamily s that in part because we don't

sell enough single family homes and which need more multifamily for rental. >> multifamily is somewhat demographically driven. 17 million generation-y are coming online and making themselves felt in the marketplace and rent first and go into households. dennis: after they move out from the parents after not allowed on obamacare on 26. >> as my 24-year-old did two weeks ago. dennis: office building boom going on nationwide? >> office is the probably most challenged out of the four. companies are looking for productivity and profitability in their space. for instance, realogy, our parent company, we moved out of 370,000 square feet, 270,000, exact same headcount. looking at density of people. dennis: that sounds cozy. talk about regions, what is the strongest regions? sunbelt and bad northeast. >> going into 13, it was core markets.

cities, new york, chicago, san francisco's those type of areas. we're seeing more markets. houston, texas, denver, colorado, fargo, north dakota. lubbock, waco, texas we're doing well. dennis: only downsizeed if you are the in snowy confines of fargo. thanks for being with you today, fred schmidt. >> great to be with you. lori: another warning sign for weak holiday shopping. new numbers from gallup show americans will spend $704 on gifts. that is down from the october estimate of $786. that is below last year's forecast of 770 bucks. gallup says big picture events like the government shutdown, botched rollout of obama care weighing on you and me. the on "cavuto" tonight, walmart ceo bill simon shares his who date outlook on the fox business network. dennis: walmart is worryed obamacare could reduce demand for retail. lori: i think it will have

overwhelming economic effects to the downside, obama care. superhero to the rescue. the bat kid saves san francisco friday. turns out his work isn't over yet. how you can help him next. dennis: today well for your years, don't forget about dre. power hyped beats headphones and looking to creep in on pandora and spotify. the details are next.

dennis: move over pandora, spotify, itunes radio. dr. dre is coming after you and he is lot cooler than you are. his new service, beats music, getting closer to launch. the company took out a full-page ad today in the "new york times" saying the service is coming soon and branding itself as

quote, first curated music service that understands you. on the website company is looking to get people to sign you up and claim your name and jump the line. service is in the works over a year. another diversification for dre. lori: we will have to start paying for these things. i love pandora's free music right. dennis: sure. there has to be revenue model in there. lori: let's check commodities as average hit new highs. investors fleeing the safe haven much gold. prices are down 1%. gold rallyed last week, let's not forget that. phil flynn is in the price futures group of the cme and phil what is holding back the metals today? >> i think the goldmarkket is like charlie brown, can't get a break. we were under pressure earlier this morning on the goldmarkket because the stock market was good. hey, why would you want to own gold when stock market goes in one direction, up to record highs? we're talking about papering after william dudley spoke and said, hey the economy is doing

pretty good. i'm turning upbeat on the economy. a staunch dove. now we could be doing that. that impacted the goldmarkket. it went done even more. can't get a break today. lori: phil flynn, thank you. >> thank you. >> bad kid stole our hearts last week when he ascended on san francisco and rescued the city from the pen beginning and rid letter and now you have a chance to dress like him and support the foundation that made it all possible. the son of san francisco's police chief designed batkid shirts for the occasion. sold 1800 of them, and sold all the proceeds to the make-a-wish foundation. shirts are available for preorder online, for pickup in san francisco. the company currently working on shipping for fans who live outside the bay area. lori: whole story renews your faith in humanity. so touching, to see the little kid, five-year-old boy, running through san francisco. whole city was rooting for you.

dennis: can you imagine what that felt like for the guy? good for him. >> with major market averages at highs, is it time to pull money off the table? tweet us. our panel has what you should do to keep the 401(k) and your portfolio safe. the response is next. dennis: get a rolls-royce for free, as the upscale housing market really gotten to this? ceo of douglas elliman real estate is next as tracy byrnes and ashley webster take you through the next hour of "fox biz." don't miss it. hi honey, did you get e toaster cozy?

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when you do what io, iyou think about risk.. i don't like the ups and downs of the market, but i can't just sit on my cash. i want to be prepared for the long haul. ishares minimum votility etfs. investments designed for a smoother ride. find out why 9 out of 10 large professional investors 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. ashley: welcome back, everybody, i'm ashley webster. >> i'm tracy byrnes. dow hit 16,000 for first time ever and bulls are running. s&p 500 hit a record high. nasdaq composite at 13-year record. ashley: so our twitter question of the day, with major market averages yes, at these highs, is it time to pull money off the table? tweet us. our panel with advice on what you should do to keep your

401(k) and your portfolio safe and your responses are next. tracy: how about this? buy a luxury home and get a rolls-royce, for free. has the upscale housing market gotten this bad or out of whack? we'll ask the ceo of douglas elliman real estate next. ashley: the ffl threatens to pull games like this off the broadcast tv. dennis kneale has the coverage ahead. tracy: this is crazy. french fry machine that takes on the world's cooks. you can not miss this one. so much for skinny america. that much more onth hour of "markets now." ashley: sign me up. tracy: exactly. we have more coverage of the record-setting markets. nicole petallides on floor of new york stock exchange, sandra smith in the trading pits of the cme. our very own charles payne and liz macdonald in the studio. nicole, we go to you first. great day down there, huh? >> great day if you're a bull.

cheer lead remembers down here. dow at 16,000. nasdaq 1100. day of round numbers that make it more monumental than the other 37 or 39 record close that is we were facing for these records days such as dow and s&p. today really is a somewhat of a monumental day. the question now as the vix moved to the upside and really changed its direction from last friday is, at what point do you become cautionary? art cashin at ubs talked about there being resistance level at 1802 on the s&p 500. we did a note from jpmorgan tom levy, equity strategist, who has an eight steen 25 target by end of the-year 1825. yellen, santa clause rally, we'll see. back to you. ashley: nicole, thanks very much. sandra, any commodity reaction as the equity markets hit record territory? >> absolutely. the money is chasing the stock

market. what happens then, ashley? investors sell out of other assets like gold and silver. both are down as u.s. dollars flow out of those metals into the equity market. right now gold prices suffering the biggest drop in about a week. we're looking at gold down $14 at 1273 a troy ounce. silver is down even bigger than gold on percentage basis, down 1 1/2%. $20.40 an ounce. in addition to money flowing out of the assets into the stock market, they're watching a lot of fed speak. we have a couple of fed speakers today. ben bernanke tomorrow evening. we have jobless claims on thursday. the markets will all watching all this, as that happens, guys, oil prices were down. they dropped down a buck after william dudley, the new york fed president, spoke very onoptimistically about the u.s. economy, leading to speculation we might see taper by the end of the year. oil prices still down as i hand it backs to you in the studio. ashley: he was very optimistic

indeed. sandra smith at cme. thank you very much. >> it is our big twitter question of the day with all the major market averages hovering record highs, tweet us. the responses are at the bottom of the screen. here with their take, charles payne, lizzie mcdonald. lizzie mack, you first. >> i don't think the market is bubbly. there are expensive bubbles by certain measures. go to valuations we are right now. we're 16 times trailing earnings last 12 months for the s&p 500. the average since 1999 is about 11 times trailing earnings, right? robert schiller, nobel prize-winning economist said it is expensive by his measures which uses trailing 10-year's worth of earnings, versus stock prices trading around 24 times earning. is there select live exuberance? yes. and i'm always mindful of the ikb story that was the first bank to collapse in the financial collapse, 2007-2008,

the german bank. who were the ikb high-flyers right now? which are, where are the outliars? where do you see this bubble bursting when the fed raises rates? we're talking mortgage reits, junk bonds. you will see telecomses and utilities get hit as well. ashley: charles, if we finish up again this week, it will be seven weeks in a row. is this run geting a little long in the tooth? >> it is getting long in the tooth and a little tired. you don't feel the am. bias to the upside and but don't eel oomfh to the market. it is tough when people try to predict a top. liz used term irrational. you go back to irrational exuberance the famous comment from greenspan, the market stayed irrationally exuberant for 3 1/2 years. the people that got out then would have missed opportunity of a lifetime. for me, subscribers several months going back to the summer we had a 20 to 25% cash position. as long as fundamentals justify the positions we're trying to ride them out because these

outsized gains, when you buy a stock and make 140% in seven months, that makes the difference. that make as gigantic difference over long term of your portfolio and can change your life if you get a few of those in your portfolio, but you can't get them in afraid up 10% take it off the table, up 20%, take it off the table. >> you agree there is selective exuberance? tech sectors, ad market for tech stocks is finite. facebook, twitter. there is finite universe for ad revenues there. >> that is interesting. those, they have had a difficult time, tesla, down another big chunk today. netflix was down today. facebook is under pressure. so i think there is money coming out of those. i think i've been seeing rotation out of high momentum names last couple weeks, maybe three weeks now into more solid, bluer chip names, to your point, emac. tracy: that is the thing, if i'm in solid blue chip names, nike, we talk about all the time,

starbucks, johnson & johnson. how can i pull money out of that. >> here's the thing. what are we looking at? what is evicinity to say hey there is bubble, and froth in certain markets? it will be interest rate rise, fed funds increase at federal reserve. separate from the scaling back of money printing. what are the outliars there? which stocks get hurt by raise rises, utilities, telecom, consumer staples. >> what about when the monetary policy starts to tighten, that is the question i hear all the time? >> i think it will be 10% pull back lasts for a few months. tapering and hiking interest rate which won't be another couple years. we all kind of know that. tracy: right. i studyed in the past during hot bull markets when the fed changes direction, we had interruption but it's a short-term interruption and we turned around resumed again. if this indeed happens because the economy is better. because there is more justification for earnings at least in the minds of people who

crunch the p-e ratios and things like that. ashley: if they hike -- >> sorry, when what did you say? tracy: brainiacs. >> i don't know about brainiacs. >> i got 10 seconds. >> fed funds rate will be hiked in increements, tiny, quarter point basis points, right? >> i don't know. they may wait so long they may have to go 50, to 75. we're talking about a 2015 event maybe at earliest. the tapering could be this year but i think it is nix year. tracy: brainiac, lizzie mack, charles payne, thank you very much. ashley: brainiac, lizzie mack, brainiac, charles payne, thank you, guys. homebuilder confidence is stablizing in november after falling for two straight months. it is not all good news. the reading missed analyst expectations with the nahb saying demand was testimonying pered by concern about further fiscal battles in d.c. and they certainly haven't gone away. earlier on "markets now", nahb ceo jerry howard had this to

say. >> frankly i think we dodge ad bullet. i think the report holding steady is real indication of builders optimism given that it ereflects the time period when the government shuts down and everything was sort of in a turmoil. i think we dodge ad bullet and reflect i've of a reasonably strong housing market. ashley: reasonably strong housing market. for more on this, turn to dottie herman, ceo of douglas elliman. thanks for being here. >> thanks. ashley: reasonably confident market. i guess that in some sense is a good thing, isn't it? we don't want it to be overexuberant. >> no. it is good, it is healthy. all the bubble stuff is kind of, you know a little false. it's good. the market was down. it has been pretty stable. as a matter of fact new york and parts of places are undervalued by about 4% still. they're about 4% off the peak. >> yeah. ashley: couple places like l.a.

and orange county in california that they say are overvalued. ashley: sure. >> by a little by about 10% which is not much in the, the height of the bubble that we had. ashley: right. >> i think they, property was overvalued by 39% in some cases. so it is pretty good. it is healthy. and again, you're not building a big supply. they don't have a big supply anywhere anymore. that is different from the last bubble we had. ashley: no. >> the financing, it is tough to get money today. ashley: still tough out there? >> yes, it's tough. ashley: you have the rising interest rates. how much of an obstacle is that? people can afford less house because of that? >> well, it is all what you get used to. they're still low in my book. i watched them be at eight, nine, 12. ashley: sure. >> i think in some ways people are little happy they went up because remember, they said they're only going to be low because the economy and jobs were off. once the job market came back

they would start to rise again. so they were artificially kept down. this shows this is healthier economy. ashley: how do i know i'm getting good deal on a home? someone said if you haven't purchase ad home you missed the boat. i still don't think that because i think the opportunity is there. >> everything is relative. ashley: sure. >> you took a chance three years ago everyone was saying is the end of real estate, nobody would buy, you made a lot of money, okay? ashley: okay. >> now, people don't look at interest rates. a couple of years from now it will be a lot higher and same property will cost that much more and i still think they're. they're not lowest they have ever been but you can never time it perfect. ashley: that's true. those that do are very lucky. i want to talk about in the luxury market. this is an interesting story down in boca raton in florida, high-end home, most expensive home in the area, the owner has thrown in a rolls royce to get this place sold.

is it getting to that point? >> no, that girl actually works for douglas elliman in florida. ashley: it was her idea or did the owner come up with that? >> i think both of theirs. if you can afford that number, you don't need, you can afford your own rolls-royce, however it is exactly what with they wanted to do. everybody is talking about it. ashley: yeah. >> in real estate you want a lot of people to know about your property that is a very international market. so you want people all around to know about that property. ashley: to be honest and very quick, almost out of time, dottie, the high-end market hasn't really been that affected, has it, because people with buy high-end homes? >> actually people with money saw opportunity two years ago. ashley: to swoop in. >> some got very good deals. high-end market, financing piece is hurting first-time buyers. ashley: interesting stuff. dottie herman as always, douglas elliman and president and ceo. thank you so much for being here. >> appreciate it.

ashley: throw in a rolls-royce. why not? tracy: i would like a lamborghini. ashley: rolls-royce is a nice distraction. big bitcoin, senate is probing the good, bad and ugly of the virtual currency. we're live inside the beltway with the very latest. tracy: tech minute, videogame wars, will microsoft new xbox introduction ruin the big ol' party? we'll find out. the dow is up 50 points. don't go anywhere. >> thank you so much. [ male announcer ] how do you get your bounce?

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call 1-888-628-7118 to learn more. so y can take charge of your tradg. ashley: quarter past the hour. time to check the markets. nicole petallides on floor of new york stock exchange, watching records break almost every day but, nicole, boeing flying high's well. >> that's right, i was just charting it, ashley and tracy. as a matter of fact it is an all-time high for boeing today. up about 2% on the largest order ever. that is dubai airshow. you had qatar airways and emirates airlines joining forces to negotiate with boeing and we're talking about 259 of the new 777 jets. they received, this is $100 billion in orders. i have mean this is nothing to

sneeze at. huge, huge. this is for the 777, long-range, twin aisle jet capable of handling, 350 to 400 passengers. back to you. ashley: quite an order. good for boeing. thank you so much, nicole. we'll be back with you in the another 15 minutes. tracy: this story is about built coin. it is soaring, hitting record highs -- bitcoin. it has caught the attention of d.c. lawmakers, no surprise. peter barnes on the story in d.c. hey, peter. >> hey, tracy, policymakers and law enforcement officials are trying to get their hands on how to regulate virtual currencies. the most popular is the bitcoin, as you just mentioned. it's a global digital currency, virtual currency, not issued or backed by any government or central bank but it can be used to purchase goods and services as long as merchants and other people accept them. ultimately bitcoins can be converted into cash at very low fees, largely anonymously through specs exchange.

now the price has been volatile in recent months but has soared to about $600 per bitcoin on one exchange today, ahead of a senate hearing this afternoon on the risks and benefits of virtual currencies. in testimony a justice department official will tell the tell the department, quote, recognize that is many virtual currency systems offer legitimate financial service, and have the potential to promote more efficient global commerce we have also seen however that certain aspects of virtual currencies appeal to criminals and present a host of new challenges to law enforcement. just last month for example, federal investigators shut down a bitcoin website called silk road and charged its operator to using it to facilitate $1.2 billion of a anonymous drug deals and murder-for-hire.

as policymakers look at all this, they don't want to dampen innovation that might provide competition to banks at a lower cost. tracy back to you. >> sounds a little sketchy though, peter barnes. when you're paid anonymously that makes me nervous. that is just me. thank you, peter. watch out creative live. google taking on the online educational platform. we'll talk to the ceo for fighting off the big guy. ashley: the midwest is cleaning up after being slammed by scores of tornadoes. the story coming up next in your fox news minute. you make a great team.

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>> at 22 minutes past the hour i'm lauren green with your fox news minute. at least eight people are dead after powerful wind and tornadoes struck much of the midwest yesterday. six people were killed in the illinois town of washington after a tornado tore through the community. two other deaths were reported in michigan. disagreement over same-sex marriage between the two daughters of former vice president dick cheney is going public. liz cheney, who is running in a republican primary for u.s. senate seat in wyoming disagrees

with her sister, mary cheney who is married to a woman. mary cheney responded on facebook, quote, you're just wrong unquote. toronto city council may vote further this afternoon to restrict the powers of mayor bob ford n a fox news interview ford revealed lofty goals planning to run for re-election and hopes to run for prime minister one day. he admitted to using cocaine and other illegal drugs but he refuses to resign. those are the headlines on the fox business network. back to tracy. tracy: that is head scratcher. lauren green. >> estimate mayor. >> whatever. thank you, thank you, lauren. >> sure. tracy: have you ever wanted to learn how to take family portraits or strength train without having to leave your home? online educational platform creative live offers just that. it has taken on internet titan google's new help out site.

creative live raiseed more than $20 million in series b funding and they are not stopping there. the company's ceo is joining us now. thank you for being with us right now. >> thank you. tracy: plain to people what it is. i went on the site and 9:00 a.m., every day, your time, right? >> our time. tracy: 9:00 a.m. san francisco time i can get live, little tutorials about a bunch of different things. >> more than a tutorial. it is a live broadcast of a class. we teach real skills. we get the experts from all kind of fields, they are pulitzer prize winners and best-selling authors and teach a class that lasts all day long. like takeing a semester in a day. deep skills based learning, skills you can use for your career or your life. tracy: your focus are what you call creative entrepreneurs. can you explain who that is exactly? >> creative entrepreneur is someone, it could be anything from someone in the photography,

film making, music, design, to people, even in the business world or even computer programmers. everyone is creative in their life. so we like to say that creativity is a new literacy. tracy: i like that. there have been over 17 million cumulative viewer hours, 500 live courses. the list of who you have gotten funding from is amazing. gray lock. creative arts agency. what interested me to most was google ventures. you've got enmoney from google and essentially competing against them. >> i wouldn't say we're competing. i don't see us as being competitive at all. they're teaching more how-to, one-to-one, how-to, how you cook something or how you fix something. we're teaching real skills that use in your career or your life. more about skills-based learning. ours is more after you turn to leave college you still want to learn things, right? continuing education market has been broken for quite a while. it is really hard to learn skills to apply to your life.

that is creative entrepreneur. someone with cite tiff in their job. tracy: sort of like future version when i was a kid go to the local high school take a continuing ed course at night. i remember getting little catalogs and stuff. now you can do it at home. >> with experts, as opposed to someone at a high school auditorium. getting an expert, world-renowned person. learn from someone succeeded in their career you want to learn. tracy: talk about how you make money. right now you can watch the things for free, right? >> absolutely. totally free, when it is live it is interactive and social and connect with other students with the instructor. we have tens of thousands of people tuning in live every day to these things. there are two classes live today. if you miss it or go off to work or go back and get your kids in school, if you miss part of it, want to watch it again or miss it completely you have to buy it. it is $29 and $149 to buy it. you have a copy from anywhere 5

to 15 hours of deep instruction and refer to watch again. tracy: you're not actually worry ed about google's new project you? sound like you don't think they're much competition? >> they're very different from us. we're going after skills based learning applying to your career or life which is a little bit different than how-to. there is history out there, i've been in the business long time and big companies doing something an don't really do as good a job as smart up start like ourselves. tracy: good for you. thank you so much for coming on to share this with us. >> thank you. >> good salesman too. >> sure is. ashley: health insurance industry is up in arms over increasing costs from president obama's about face that allows people to keep the policies. we'll have an analyst straight ahead. tracy: nfl threatening to pass on broadcast tv, if the supreme court rules in favor of a service that brings those games to your smartphone. scary stuff.

dennis kneale has the story ahead. epfrench fry machine taking on the world's cooks. who doesn't love a good french fry. do you do vinegar on your frys? ashley: of course. tracy: dow is up 62 points. don't go anywhere.

♪ ♪ ashley: 90 minutes until the close, let's take a quick look at the dow 30 for you, the advances just about -- well, just slightly ahead of the decliners. if you like boeing, leading the way after that huge order from the dubai order show, $100 billion, very impressive. microsoft lagging behind. nicole petallides watching supervalu which i guess from a stock point of view it's

actually living up to its name. >> reporter: well, we're watching supervalu because today goldman sachs came out and made a very bold statement, they put a sell rating on supervalu. here it is. it's down 7.5. this is why they cut it to a sell from a neutral. the first and most obvious is intense competition, but the other is related to washington. obviously, the cuts in food stamps and how that may in turn affect their numbers coupled with the fact that they're going to face higher costs for the affordable care act. you put that together, and this is why you're seeing supervalu down 7.5%. one good thing that they did note is the strong management team. however, a sales rating from goldman zacks is not good -- goldman sachs is not good news. ashley: thank you very much. after president obama promised obamacare wouldn't add one dime to our deficit, a little known fail safe is giving an insurance company against losses and, oh,

yes, leaving us taxpayers stuck with the bill. rich edson is live in washington, d.c. with more on this story. >> reporter: the latest estimates say the law cuts enough for medicare and increases enough taxes to cover the costs of the health care law. however, the congressional budge office figure, the budget office figured those estimates before the botched rollout and before president obama allowed insurance companies to reissue canceled plans. analysts say the president's fix could cost taxpayers because of a provision in the health care law. known as the risk corridor provision, obamacare allows taxpayers to subsidize insurance companies if they fail to enroll younger, healthier premium payers. the american academy of actuaries writes, quote: costs to the federal government could increase as higher than expected average medical claims are more likely to trigger risk corridor payments. one analyst says this amounts to an unintended consequence. >> they weren't saying we're not

worried about the healthy enrolling because we have risk corridors, they were saying we need those healthy people. what that tells you is that the risk corridors were not built to solve the sort of problems that we're seeing right now. >> reporter: as for how much this could all cost, there really is no reliable federal estimate. the congressional budget office usually updates projections in the early part of the year, and we'll be looking out for that one. back to you. ashley: we certainly will. rich edson, thank you so much. tracy: nobody's holding tear breath. all right, health insurance industry up in arms over increasing costs from president obama's about face allowing people to keep policies. joining us, susquehanna financial group analyst chris rigg. you and i were talking in the break, how could they mess this up so bad? >> it's not really clear, quite frankly. i'm surprised. i thought this was going to work reasonably well, particularly the web site. but some of the issues we're seeing now are essentially creating problems because of factors that the insurance

industry was required to live up to with the way they designed the benefit designs. so, yes, it's surprising, and a lot of this stuff is unfolding realtime, so we'll see how it goes. tracy: let's talk about this upton bill, if it becomes law, it becomes an even bigger headache. >> right. the upton bill allows people to purchase new policies off the exchange, and that pretty much means you'll definitely have only the sickest people buying insurance on the exchange or that's adverse selection creating a potential death spiral in the outyears where costs of insurance continue to rise. tracy: basically, it becomes more expensive for insurers at the end of the day. >> correct. but they'll protect themselves with higher rate cases in 2015. tracy: what's the worst casey they are you -- case scenario? >> in 2015 you have fewer plans willing to participate because the laws they had to live up to for 2014 were changed very late in the game.

tracy: this is so confusing for so many people. so if i'm one of the people that got my plan canceled, but now if this becomes law, i could get it back -- in theory. >> in theory. tracy: how do i go about getting it back? enter again, we'll find out. -- >> again, we'll find out. most likely, you'll get a letter from your insurer saying we're willing to reinstate the policy -- tracy: could be higher. >> it should be higher from an actuarial standpoint, and what's difficult is those plans have been terminated, and insurers likely did not renew their networks with the doctors or hospital. you can't just say, hey, keep it for another year. tracy: and what if i was theticture of health when i started -- the picture of health when i started, my plan was dropped, and now i'm a fat slob who smokes, my premium could go up way more. >> well, that's the essence of obamacare where everyone ends up on the exchange and the relatively younger and healthier population offsets the costs of the older people.

tracy: this is really just to point fingers at the insurance company, isn't it? to kind of take the blame off the president and put it on somebody else. >> sort of. some states realize this is a rob, and they're not going to move forward with the administrative fix proposed by the president. but, yes, if the states move forward and the insurers choose to terminate anyway -- tracy: they become the bad guys. who are the biggest losers in this whole process? >> i mean, truthfully, i think it's -- if something doesn't get fixed, it's really outside the insurance industry, and this is besides the americans who would get coverage, but it's the hospitals. because the hospitals have been asked to pay for obamacare by a lower medicare reimbursement, and if the coverage doesn't come, their medicare rates are going down very rapidly over the next few years. tracy: do you see this -- is there any upshot to this at all where we are right now the. >> i mean, time will tell. there are ways around it. you could potentially move forward with the medicaid expansion because that's working

rate well and potentially delay the subsidized commercial coverage for some period of time while the web site gets worked out and we get the pricing issues fixed. tracy: honestly, it was easier to read "pride and prejudice" in college. this stuff so confusing. chris rigg. ash? ♪ there are. ♪ ashley: thank you, tracy. gamers out in full force this weekend buying one million playstation 4 gaming consoles just in the first 4 hours that they were up for sale. -- 24 hours they were up for sale. customers saw long lines and some retailers, including best buy and amazon, actually ran out of supplies. sony has projected it will sell five million playstation consoles by march. sony, by the way, up 80% in the last year, today as you can see up nearly 2%. swapping the 5c for the 5s, reports out of china that

apple's major factory in china will end production of the iphone 5c. the plant will switch gears and ramp up production of the more popular iphone 5s. supplies have been strong, but inventories of the 5s have been much more constrained and are only now beginning to see improved supplies. last week shipping estimates through apple's online store improved. and giving new meaning to hot and fast, check this out. it is a french fry dispensing machine. my, oh, my, the 750-pound machine delivers hot fries in just 90 seconds. it sounds like a plane, it's the latest machine from chinese manufacturer beyond t technology. it was still tested in brussels, of all places. they should test waffles there, perhaps. it's reportedly ready to ship to iran, croatia and chile. it can disspence 150 orders

before needing service and even gives out a sauce box. there is a heaven. there's there's you know, i'm going to need that if my kitchen. i don't use my kitchen very often, but for that i will enter it on occasion. all right, bloomberg editor-in-chief matt winkler forced to lay off 50 journalists, the largest in the company's history, and we're going to have the reasons coming up next. ashley: and bringing foreign tourist dollars to the u.s., we'll tell you about a new public/private partnership. stay with us. ♪ ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. companprofile. a research tool on thinkorswim. from td ameritrade.

♪ ♪ >> i'm melissa francis with your fox business brief. the vatican has hired the con i- consulting firm ey to cut waste and improve transparency. bloomberg's editor-in-chief matt winkler is set to lay off more than 50 journalists. the cuts reportedly in the sports, entertainment and investigative reporting units. bloomberg has seen a reduction in demand for its financial data terminal. and coming up at 5 p.m., the obamacare bailout. want to know how high the prices are going to go with the president's fix and how many of your tax dollars will go to cover insurance companies? we've got a hospital ceo and former health care executive to crunch the numbers. that is the latest from the fox business network, giving you the power to prosper. ♪ there are. ♪

ashley: selling hollywood, broadway ande grand canyon overseas, that is the job of brand usa, the first public/private partnership created to promote the u.s. to foreign travelers and, of course, bring in their tourist dollars. louisiana credits that program with helping the state shatter tourism records including those before hurricane katrina. jjining us now, louisiana lieutenant governor jay darden. why has this program been so successful for your state? >> we're an international destination to begin with, a very diverse culture, a lot of european countries are fascinated by louisiana, and it's enabled us to deliver our message really almost twice as well as we were before. ashley: so where does the money come from for this partnership?

>> it's a fee that's paid by international travelers as part of their visa requirement, and a portion of it goes to homeland security, a portion goes to brand usa, and an individual corporate partners this state tourism organizations, local organizations and businesses partner with brand usa to, basically, increase their reach, in our case by 45% in the international market. ashley: you know, the critics have said, look, you're the private sector is benefiting from government dollars, so essentially subsidizing their buildings to basically tout their businesses. how would you respond to that? >> tourism is a human being job creator -- huge job creator for america, one out of every ten dollars is in the tourism industry, and we're one of the businesses that returns money to taxpayers. when people come and visit and spend money here in america, that's hundred that our taxpayers don't have to pay, so we believe this is a great investment for america to make to increase the number of international travelers who stay

longer, spend more money and visit more parts of america when they have an opportunity to experience some of the things that americans often just take for granted. ashley: so what's the future of the program? is it still -- i mean, how long is it in effect for, and is there concern it will be done away with when we get into these budget negotiations? >> it started in 2010, and it's had some tremendous results for us here in louisiana and i think a number of other states will say the same thing. there was a bipartisan congressional effort to create this initiative. i think and i hope it's here to stay. it's been very good for louisiana tourism, and i think it bodes well for the economy of america overall by bringing people from outside of our country to spend money and tour around america. ashley: new orleans is one of my favorite cities, what -- how's the city doing? we mentioned hurricane katrina in the intro, you know, obviously it's further and further in the past now, but it had such a devastating effect, how's the city of new orleans recovering? >> there's been a remarkable

renaissance in the city of new orleans. they had their finest year ever last year as did the state of louisiana. we're excited about events coming up in the future, mardi gras is right around the corner. someone once said that new orleans was a poetic city with a prosaic population, and that's an apt description, and i think it's why so many international travelers love coming to louisiana. ashley: so when we talk about the u.s., who do you see as your biggest competitors? what other states or, i guess, tourism attractions? >> well, you know, everybody in the america is trying to get people to come and visit tear state. we think we have a lot of unique things to offer, and that's why we had a record-breaking year last year. we think this year will be equally as good, and we think the future bodes very well as well. we see visitors from the united kingdom, france, virtually every country imaginable wants to come to louisiana. ashley: wow. thank you so much for joining us, louisiana's lieutenant governor. thank you. >> thank you, ashley. tracy: i've got to get there one

of these days. ashley: it's fabulous. tracy: all right, quarter til, time for stocks now as we every 15 minutes, we head down the floor of the new york stock exchange. teddy weisberg joins us now. right around that magic 16,000 mark, what could derail this bull run? it looks like it could keep going, but what could knock it off? is. >> well, i think a lot could knock it off, tracy. nothing goes one way forever. we've been on at least the last four or five weeks we've been on a pretty good roll here. markets had technically overbought. unfortunately, they don't tell us, they don't ring a bell, and they're not going to tell us when the music's going to stop. but you would have to think that some place in here there'll with be something that will cause the stocks to give a little back here. but the overall direction, i think, remains positive. the street likes the fact that bernanke's going to be followed by yellen, and i think that's a big plus. you know, more of the same quantitative easing from the fed, and that has been the underlying bid for the market not only for the last couple of

months, but for the last couple years. tracy: teddy weisberg, the voice of reason. dow right beneath that 16,000 mark. thanks, teddy. >> my pleasure. ashley: the nfl may pass showing its games on broadcast tv. dennis kneale has the lay by play straight ahead. tracy: and tomorrow's news today, why making internet gambling legal will be in the headlines in the coming days. the dow hovering around 16,000. we'll be right back. don't go anywhere. ♪ ♪

tracy: the area smartphone service knows how to make itself some energies. air owe just got a fearsome new

foe. dennis kneale has the story. >> that's right, tracy. the national football league and major league baseball say that if the barry diller-backed service wins at the u.s. supreme court, the leagues will remove their games from free over-the-air broadcast networks and will air only on cable. aereo resells signals to smartphone users for $8 a month without paying the networks a cut, and each time they enter a new market, the networks file a local lawsuit, but the nets lost a few earlier rounds. now the networks have asked the supremes to intervene. and now two premier sports leagues have filed this friend of the court briefs siding with the networks, but the next threat to remove games from the broadcast could backfire in congress, that is the leagues' threat to do that. congress grants them antitrust exemption and lets them band together for tv rights talks for the networks. withdraw your games, and congress could withdraw that

antitrust exemption. now, the aereo fight has divided the industry. time warnerrer cable and other big cable guys said to be mulling starting a service of their own if they win at the supreme court, and that would eat into $3 billion this fees that cable now pays to the broadcasters for all that programming which aereo regards as entirely free. ashley? ashley: all right. so the question as we mentioned time warner, what about comcast? >> comcast has way too many dogs in this fight. they've owned these cable systems that could benefit if they don't have to pay be fees to broad costers, on the other hand, it owns,s, this nbc stations, so comcast hasn't weighed in. tracy: to be continued. dennis neil, thank you. ashley: all right. and in tomorrow's business today, online gambling is gearing up to be one of the most heavily-lobbied debates next year. be warned, that's because billionaire casino mogul sheldon edelson who broke records last

year in the election is taking on a new cause, persuading congress to ban internet gambling. he's started hiring lobby bists and pr experts in washington and state capitals across the country to press his case. he aims to portray internet betting as a danger to children and the core with an advocacy group set to roll out in january. three states have moved to legalized online gamble. new jersey launches just a week from tomorrow and, of course, opposition coming from a casino mogul. therein lies the clue. tracy: exactly. ashley: doesn't want those gambling dollars going away online. you have been warned. tracy: state like new jersey? tax dollars. ashley: that's right. tracy: how about that? ashley: states need the money. coming up, the dow hitting the 16,000 mark, it's there right now. "countdown to the closing bell" has a guest who predicted this back in march. so are we now reaching bubble territory? be wharton professor jeremy siegel is next with his big

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♪ ♪ >> a very good afternoon, everyone, i'm lori rothman sitting in the for liz claman who is on assignment today. the dow jones industrial average passing the 16,000 mark for the first time ever right now just shy of the milestone. the s&p hitting 1800 for a moment before slipping just below that moment. back to dow, 15,997, now 996. we've got our eye closely focused on the dow. boeing, meantime, helping to push the dow higher after it won about $100 billion worth of new orders for its new passenger jets on the first day of the dubai air show. shares of boeing are trading up

a lot on news, 1.6%, 138.34. take a look at boeing over the last year, the stock is already up around 89%. keep in mind mf global run by former new jersey governor jon corzine, today it was ordered to pay customers $1.2 billion in restitution. that follows a complaint that mf global unlawfully used customer funds for its needs in the final weeks before its ultimate collapse. well, there are also some positive news in the housing sector, home builder sentiment holding steady at a level of 54 this month. keep in mind, any reading above 50 is a sign of confidence. the data lifting home building stocks today. all right, so let's send it back to nicole petallides covering the action at the new york stock exchange. >> reporter: i wanted to take a look at some of the home builders and how they're faring on the news that we've gotten today. so here's a look at names like powellty, lennar, these