tax money is being wasted on. a different way to invest, ignoring the white noise out there. samsung looks to one up the iphone with a scanner. and half of all american uses a multivitamin. this morning we all have to be wondering why. all that and so much more. connell mcshane is here with this hour of "money "markets no" connell: now we don't all feel bad for not taking the multivitamins. dagen: we're going to hear about that in about two minutes. connell: nicole petallides at the new york stock exchange to talk about the market ended up it today.

nicole: after an update yesterday, we are pulling back a little bit, ahead of the fed, so that is going to be obviously in focus. the two things coming out of washington that really grabs the attention on wall street today and tomorrow. we will find out whether or not the fed decides to taper. a loss of two tenths of 1% at 15,855. the nasdaq down over one third of 1%, and the s&p 500 down half a percent. that being said, the dow was trying for three straight winning sessions. 3m and boeing helping to lead the way. both boosting compensation to a certain extent. watching dividend raises, they are both great performers today. a buyback and wanted to focus also. back to you. dagen: kicking off the annual waste book event today finding government waste seems to be the

easy part of it, stopping it not so much. connell: always interesting to see this kind of a thing. 100 wasteful examples. that is what the staff describes in the latest annual release of the federal government waste book including $914,000 to the national endowment of the mentees popular romance project to bring new audiences to the conversation about the nature of love, romance and their expression in pop culture. also spending a documentary titled love between the covers. more than $70 million for tax breaks with brothels in nevada. $2 million for senate staffers to involve life coaching. workers hold parties and section rooms off as man caves. at a study conducted in 1952

that finds the happiest marriages are those where weiss were able to calm down quickly during marital conflict. the center says this kind of spending is exactly what he opposes the budget deal the senate will soon pass. >> what we did is what career politicians did. it is politically smart to do it, but financially it is stupid for the young people of this country. >> report claims one more bit of waste. the national guard sponsorship with dale earnhardt junior. the military service 24,000 individuals who contacted the military branch directly because of the sponsorship, only 20 were qualified for military service, none of them joined. back to you. dagen: one of the reasons they were doing that is because they put so much pressure on proving that the sponsorships were worth it, so i tried to do a survey of it. the u.s. army no longer sponsors

the car, by the way. i like the survey about why, i am not getting angry. thank you, rich edson down in washington. good work. mike huckabee joins with the top five picks from the list. there is so much to choose from, did anybody stand out for you? >> i have five top ones. i love tom, he points his finger at the absurdity of congress. i think every member of commas ought to send the kid a t-shirt that says daddy went to congress or mommy went to congress and all i got was $17 trillion in debt. the first one is the national guard spent $10 million on sponsor tie-ins to superman man of steel. while they were trying to pretend superman, they were cutting 8000 national guard soldiers. that doesn't make any sense. we paid $400 million to federal

workers, all of whom made over $100,000 each during the federal shutdown. wwe're talking accordingly in dollars just to be able to pay people to not work. dagen, i would not work for half that money if they gave it to me. i million dollars to finance the national romance project, i mean seriously, do we really need to have the federal government finance romance? they're going to talk love, talk about loving us as taxpayers and getting off our backs. number four, this is a dandy, breast implants and costumes for prostitutes are allowed deductions by the irs. i will leave that one alone and let the viewer's imagination take it from there. number five, $7 billion of weapons that we destroyed and left the parts and the pieces in afghanistan because we decided it was just too expensive to

bring them home, so $7 billion of hardware, we just broke to pieces. my grandson could have woken some stuff to pieces, at least he would have had more pleasure doing it. dagen: these spending items are amusing, frustrating, infuriating in some cases and a centrist list is always interesting to look at, but in the grand scheme of things if you want to fix the debt situation, you have to go after the entitlements. is this focus misplaced? $2.5 trillion on medicare, medicaid, social security and the interest on those programs and we focus on what is less than 2% of our total debt. >> i realize the great scheme of things $30 billion the senator has identified, it will not fix the big problem in the federal budget, but here's what it does reveal. it reveals people in government

tend to think they are entitled to spend other people's money, if they're spending it on little things, rest assured they're spending it on big things. if you save pennies, you reap dollars. a billion here, a billion there, next thing you know you're talking real money. the fact is without some serious financial controls and even some accountability to how money is spent, we will never attacked the big things because we cannot even take care of the little things and when you don't take care of the little things, you tend to really screw up on the big things and that is what we are doing with the budget. dagen: in many cases the help get congressman reelected. when it is focused spending on one constituency, it might be everybody laughs at the newer management, but i can tell you in some places in north carolina for example that is a vote-getter. >> oh, sure. all these products are done with

a noble purpose to someone, but the question is did taxpayers one state have an obligation to fund things that are uniquely limited to the benefit of people in another state? i would say turn the lights on, make everybody have to account for these, make every kind men how to vote yes, i can justify. when i was governor my test was this. i would say can we go out there to a 75-year-old woman thing i social security check, looked her in the eye and tell her the way we spend her money was valid and useful and if we can look at any eye and tell her we did it because it was in the best interest of her life as well as others. if it passes that test, go for it. if it doesn't, maybe we ought to rethink the spending of it. dagen: always great to see you. hope to see you in person very soon. merry christmas i don't get to see before that holiday. governor mike huckabee, take care. >> merry christmas. connell: these terms or clichés

thrown around a lot, what do they all mean for your investment goals, your personal goals, your personal benchmarks, long-term personal investment plan. spend a few money the mac minutes talking about that now with the chief investment strategist of charles schwab. sounds like she is here to tell us w we're part of the problem. >> it is all your fault. connell: some of the interviews we do, been doing this for a while, they don't add up a whole lot to ask somebody what should you do with your money because everybody is different. >> i can pontificate like anybody else on with the market is going to do but frankly it should have no bearing on what investors are doing. might even have a very high conviction outlook next year in terms of the market. does not mean everybody should be buying based on that view comments depends on your

personal circumstances, your risk tolerance, time horizon, your income needs, your tax bracket. some investors should based on the strengths, some should be buying. benchmarks should be your own long-term plan, not the market, not whatever the hot asset class is at the moment. connell: given example in a twofold way, give me your outlook for next year, this is what she things will happen next year and if you can, tell me the type of person who should just say i am ignoring what she says because it does not apply to me? >> i think the market looks very good next year. i would like to see some pullbacks, establishes a healthy environment keeping the sentiment from getting overly frothy. you are a 24-year-old investor, you just started putting money into a 401(k), you just started working, very risk tolerant,

benevolent obsessed about your portfolio, not going to look at it every quarter and run the risk of panicking out. or you are 70 years old and you need every dime you have and need to earn income on that and you can't afford lose any of it. the outlook is the same but what investors should be doing are two entirely different things. how they generate income, the risk tolerance, the risk piece of the construction of the portfolio are entirely different things even though there could be a single view and what the market is going through. connell: a person who has a fairly aggressive appetite for risk should be taking more now based on your outlook? >> if you have a long-term horizon, your goal is to do well, generate capital returns, beat inflation over the long-term need exposure to the higher risk assets. if you are much less risk tolerant investor you don't want to lose any money, cannot afford to lose any money or you are

going to make those mistakes, he probably wants to be more conservatively positioned. i know it is not exciting to talk about. connell: a lot of the interviews we do for the conversations we have our one-size-fits-all in a world that shouldn't be. for example older people that traditionally and buy the books should be shifting the money intandthe bond market getting hd and no returns for years. what kind of year will that be for them? what should they be thinking about? >> that is nothing, there is a lot of money. a lot of money going into fixed income that ought to stay there. a lot of things investors can be doing to limit risks, not have all the exposure to where the benchmarks typically are biased, which is treasuries. there is plenty investors can do, but not just in fixed income, it is every asset class where the investor doesn't

understand what they are buying, between price and yield, they don't understand the risk associated with these things. things like diversification or rebalancing are boring to talk about, but where correlations have come down, diversification works again. he did not work during the financial crisis. rebalancing, the cool thing about that is your portfolio tells you when it is time to do something. if you have gotten out of whack, your portfolio is telling you you may want to pay her bac pai. you had to worry about which will have the right market call for the next year. connell: being open with the viewers saying some of the stuff we do is not as helpful and hasn't been over the years, maybe we have helped a few people today. we feel better about ourselves.

>> it is fun to talk but with the market is going to do, just not necessarily trigger a lot of money moving around it. connell: appreciate it. beyoncé getting bounced from target. because of the way she rolled out a new album. we will talk about it coming up. dagen: if nobody wins the mega millions drawing tonight, we could be on our way to the first billion dollars jackpot in history. i got 14 numbers. i will comment gloat, come to work" for like weeks. connell: keep an eye on your smart phone, could be a way to unlock your hand held. coming up.

connell: we have to go back to nicole. hoping you would win these that you come to work tomorrow. talking stocks. nicole: frontier and at&t. doing very well.

so the shares up earlier up over 8% for frontier communications, at&t is down about 1%. what is interesting about this one, you're seeing frontier although they are the ones paying out, so you have at&t selling the wireless operations in connecticut to frontier. frontier is going to pay out $2 billion in cash. frontier has an up arrow. immediately they will be using it to fund their network upgrades, so this is how they're going to use that. giving them 900,000 phone lines, broadband connections and it goes on and on. a good deal for frontier. back to you. dagen: target is saying no thank you to beyoncé's latest album. this after the surprise release of her sister album on itunes at the end of last week, targets now says it will not sell it when it released on december 20.

the chain says with a new album is available digitally before it is available physically impact demand and sales projections. give me a break. this album is the best selling album on itunes ever, there were almost 829,000 copies of the album sold in the first three days on itunes and that makes beyoncé's latest the second best selling album of the year for the apple music service. number one, justin timberlake. -@connell: you to buy all the albums if you win the lottery tonight. the pair how many tickets are sold, 11:00 p.m. eastern for the drawing. $506 million jackpot as of yesterday, it is getting closer and closer to the record, a all-time record, $656 million in march of last year.

if nobody wins tonight, it is possible you could get a billion dollars jackpot by christmas. it ruins your life come you don't want to win, it is too much money, to make people coming after you. connell: i am rooting for don imus. dagen: just for the fight. dagen: some advice the new federal reserve chief has with not wearing about inflation. connell: half of all americans take multivitamins now we learn it might not be so great in the long run. coming up on "markets now." ya know, with new fedex one rate

you can fill that box and pay one flat rate. i dn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex.

>> i am lauren green with your fox news minute. edward snowden applauding the maneuver by the program. send the ruling vindicates sections. he also reported the asking for asylum in brazil. exchanges offer to help the country investigate alleged u.s. spying on its soil.

former epa officials facing sentencing tomorrow. duke in the government out of nearly $1 million in wages and benefits by convincing his bosses he was a cia operative. if on a spy had never been to the agency's headquarters pleaded guilty in september. press user asking for at least 30 months in prison. a rough day if you are detroit lions fan. baltimore ravens kicker justin talker getting the field goal against the team last night to give the ravens the win. that still goes one of his six on the night. 248 yards with a field goal is more than lions quarterback stafford threw all night. do you know what a dollar buys you? about 11 hours of dreaming.

dagen: let let's make some mone, people. charles payne, all about buybacks and buyouts. connell: we're going to talk about it again because i would love to see what he thinks about the talking heads earlier. charles: we had big dividend announcements. coming with the mastercard last week. i have a something, guys. when i see the type of money these guys are committing to these dividends and amount of in the buybacks, i think it is an enormous sign of confidence. just a string nice sign of confidence, however think it is more a sign of confidence in the rest of the world more so than the united states. dagen: you would hire people rather than buyback stocks. charles: they're not confident and fiscal policy, but they're confident their business will do well.

last quarter mastercard, $1 trillion in volume, 300 billion came from america. this is nations in other parts of the globe are growing faster. you saw the air show, when it ordered $192 billion. last quarter 3m only 36% of their revenue. four and .5% growing. they are confident the rest of the world will continue to grow and prosperity will be reached at zero confidence necessary american economy but certainly fiscal policy, tax policy, regulations to put the money to work here a different way. there is big upsell. dagen: you would hire here because the products are made in the united states. >charles: today they announced they were moving 1200 jobs out

of washington, d.c., great jobs, they will keep them in america but not washington state. a $10 billion plant they want to build to fulfill these orders. dagen: when you talk about buybacks, it is a sign we don't know what to do with the cash. charles: that is a sure sign of confidence. these are some significant dividend increases by these companies. they say we believe we will make a lot of money for a long time, just not sure how to put it to work in america. not bad. charles payne. there you go. innovation likes investments in robots which we have been talking about in recent weeks, something the economy needs according to our next guest. some thoughts on how to share that with the new fed chair about innovation coming up.

dagen: these companies have to prove antibacterial soap is better than wash your hands with hot water and some ivory. we ill dig into that. and also, vitamins, whether you need to be taking vitamins or not. pay attention here. ♪

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dagen: innovation, over inflation. our next guest is making arguments to janet yellen as she moves and at the next federal reserve chief, the nomination heading for a vote. connell: unsolicited advice from our good friend. dagen: i did not know that.

connell: we go way back. what is the advice if you had to just boil it down? >> it slows growth, and the reason slows growth is because it injects a lot of risk into the economy. the economy is constrained by its willingness to take risk if you add more risk it is just going to dial back in other parts. if you look at where we had to grow in this economy, almost purely through innovation and what we don't want to do is dial back risk-taking because it is risk-taking. dagen: are you saying we have to change the mandate of the federal reserve? it should be something altogether different? >> the policies they are pursuing have not increased employment at all, so drive down interest rates to zero, $3 trillion of money, sitting in the bank system on use. look at the most interest rate

sensitive sectors in the economy like construction, down 25, 30%. look at what they are trying to do, boost of growth that hasn't done that at all. connell: these are why these are tough, they are theoretical in nature because the federal reserve are those who support the policies would say if we didn't do this, things would be a lot worse. look at the chart, it has gone down as they would say we're adding jobs every month so what we're doing is working to the best anything at a federal reserve when federal open market committee could do can work in this environment. >> one of the things you would do is look at the and his rate sensitive sectors of the economy and say have they turned around? people spend less money on consumer consumer nondurables. we just get a dial up of one sector, dial down of another sector, it does very little.

easy to see why does have a strong effect on growth. they want to drive the interest rates down below zero. let's get them even further below zero. you need this money, we have that. the other is tight capacity. we will not get that until the economy recovers. you're heading the fatty billy to inflate the money supply after the economy recovers. you're handing the power to this administration who has been trying to transfer money from the rich to the poor for five or six years now. you're handing them the ability to inflate the money supply after the economy recovers and what you're hoping as they don't take advantage of that opportunity. whether they do or they don't, they're injecting a lot of risk in the economy today if you're constrained by your willingness to take risks, you have to look at that possibility and say i need to be more cautious today than i would be if they had inflated money supply.

if we saw the kick up in growth, we can make an argument of no growth in those sectors is hard to say cut or factual with even less growth than we had in 2011. we have come up about 5%. dagen: if interest rates were higher, with that encourage innovation? if the fed wasn't as loose with the money as it is right now, how would that help? >> if you look at software up 20% from 2007, for example, most is bought on subscription basis. you need cash flow in order to invest in it. would raise the interest rate have a big effect on a modest investment software? probably not, but would it affect the risk-taking on a macro level in the economy? yes. that encourage people to take more risk and spend more income to invest more and to invest it

in riskier products like innovation as opposed to building construction? yes, it would. we have to see the secondary effects of what it is they are trying to do, with little effect it is having on the economy and how it causes the effect they are not taking into consideration. connell: a good discussion. yankee for coming in. >> thank you for having me. connell: every thought the finger scanner was latest and greatest. watch your back, apple, samsung is thinking about packing the flagship galaxy with an eye scanner. from what we understand it sounded like samsung made a bit of technology at the conference in spain in february. likely working like the fingerprint scanner does but it

is actually harder to fool and a figure print would be. i don't know why i am imagining you staring at the phone and it will not work or whatever. that is the new technology. connell: on the new apple phone it doesn't work very often. >> it works. dagen: it works sometimes but not all the time. pity because it always has been sticky on my hand. connell: the stage manager disagreeing with it. dagen: he disagrees with us on everything. we can all maybe agree about this, the rock 'n roll hall of fame announcing 2014 inductees. nirvana, kiss are in the class. finally getting in the door after being eligible since 1999.

cat stevens, if you want to go by his current name, hall and oates, peter gabriel and others. notable acts not making the cut this year and a ba and ll cool j. run dmc are in, by the way. given these people, i am just waiting for the rest to get nominated. nirvana i get, but the rest of them, i don't know. connell: washing your hand, that story coming up. the money spent on antibacterial soap maybe not worth it, let's put it that way. coming up. dagen: what it is like to be at ups on the busiest days of the year. connell: nbc offering up new ways to watch the olympics. the people care about that? we will talk about it.

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of that from november 54 reading. lowen-lowercase-letter cause the core index was up 2 tenths of a percent. prices for both reported expected to rise by one-tenth of a percent. glaxo smith kline will topped telling doctors to link to the drugs. and coming up, the plaintiff that convinced a federal judge to rule against the phone surveillance program exclusively on "markets now." that is the latest from the fox business network, giving you the power to prosper. (vo) you are business pro. you can separate runwayridi. se. from fason that flies off the shelves. and you...rent from tional. because only national lets y choose a car in the aisle... and go.

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joining us now from nashville, tennessee, with more is chairman of preventative medicine at vanderbilt university. is that the take away from these studies clearly not being a medical professional doctor that there are no proven benefits and this is kind of case closed if you will on taking a multivitamin? >> pretty much so, that is what the studies show. there are no domestic benefits taking vitamins. this kind of counterintuitive. you pay your money, you will get expensive urine, but no demonstrated health benefits. dagen: is this just multivitamins? >> talk to vitamins generally, but studies have already been done but we are always ready and research to see the results of further studies. dagen: is the take away here

that am i not deprived of nutrients that i don't need to replenish where like vitamin d, i don't need to worry about it and it wouldn't be any health benefits from greater vitamin d or even folic acid for women? >> let's take them one at a time. we are talking with general population taking vitamins to enhance their health. for that there is no benefit. if there are demonstrated deficiencies, you need to take it, folic acid for pregnant women obviously is recommended. in general i have stopped taking vitamins because otherwise i feel good, eat a good, balanced diet, fruits, vegetables, grains and the like. the vitamins i was taking before pass out because my body doesn't need them. dagen: i wanted to ask you about

the ruling on antibacterial soap the manufacturers of this needs to prove antibacterial soap is more effective than just washing your hands with hot water with a bar of ivory soap. is there any danger to using this, and what do you make of this decision? >> i think the decision is a good one. at the previous one, in god we trust but all others must provide data. if the promotion is by using these products will actually reduce infections, let's see the data that is actually the case. so far the data doesn't exist. so soap and water, brisk handwashing works just as well as antibacterial products. i use them in hospital practice, but when i am out and about in the general world, i don't have a sink available, hand sanitizer

is very good. they contain alcohol which knockoff bacteria right away. the question is whether in normal household use you need the antibacterial substance which is an artificial chemical we are putting into the environment by the ton. no good can come of that unless there is a demonstrated benefit. dagen: well put as always. i hope it is nicer in nashville than it is here right now. be well, we will see you soon. connell: there you go. dagen: commodity prices bracing for the latest federal reserve decision. sandra: perhaps wrapping this up the best, basically saying there's a balance chance we will see the fed act at this meeting that has begun today and ends

tomorrow or in january at that meeting. that is where the marketplace falls right now, but if you look at whether traders are putting bets. their heads responses to the marketplace expecting to happen tomorrow. look no further than the currency market. the u.s. dollar versus the yen, the greenback hitting a five year high against the japanese currency. the dollar strengthening against most global currency as the production would be if we get the fed trimming back estimates program that would be positive u.s. dollar and obviously negative commodities. if you look at the commodity market, rice is trying to go higher on better-than-expected economic news out of the u.s., but the trade based on if you do get curbing of a stimulus program you're going to have a weaker commodity scenario. as a hand it back to you, we have a widening between the five and the 30-year treasuries. we are seeing the spread widen and at 10.285% heading into

this. the bets are all over the place, this happens tomorrow, guys. back to you. connell: a big day tomorrow. they did today, set to record a single day shipping record. expectation is to send out 29 million packages plus around the world today. dagen: adam shapiro live in louisville, kentucky. >> we're at the world hub for fedex. for ups, where's my mind right now? we are at ups, ups pioneered the use of conveyor belts back in the 1920s for package sorting. want to introduce you to somebody who is why talk about the 29 million packages, which they will deliver today, this is the day they will set a world record. they ship 34 million yesterday.

this is ups airlines. how do you coordinate? 2300 flights that will take off, 20 million packages being delivered, how do you coordinate all of that? >> this building is so efficient. in the process of sorting 2 million packages over the next few hours. we are moving very quickly. we have a team of people including watching the weather. planning folks who prepare for these three to four weeks before the christmas holiday. it takes an entire team. >> get a close-up look at what is going on as you and i keep talking. how's the packages today, 400,000 packages per hour. right here. by the time 3:00 or 4:00 this afternoon we will have over

2 million packages through this facility. and we will turn around this evening and start all over again. >> there has been a lot of attention on grounds. they will not be delivered by drones, will they? >> we love technology. certainly we will take a look at any technology we think can help buzz, but i think it is a little bit down the road. >> we are live all day at ups. back to you. dagen: nbc should itself in the foot with this idea?

dagen: the winter olympics are coming up around the corner, this time they are being aired live from russia. connell: dennis kneale here to talk about this in his media report. >> mbc teaming up with what will be the biggest olympics online ever. they want 98 on 98 events they want to stream live, more than 1000 hours of content over 18 days. double time in vancouver. taking an exclusive approach here, cannot get these events on the internet unless you are a paid cable subscriber. one of the channels that will be carrying the olympics. that is how you are going to have to get it. connell: that is how you get most of the live streams. >> its defeat the purpose.

otherwise they will try to block you. they may have 100 million homes so does not like you are not going to be able to get it. connell: going to be watching curling. speaking of dennis' show, it is coming up next. dagen: yes, it is. a judge who cited information gathering systems as unconstitutional. connell: showing more at how your tax money is being spent. some may argue unnecessarily. ♪

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tell your doctor about all planned medical or dental procedures. i've got three important reasons to up my game with eliquis. [ male announcer ] ask your doctor today if eliquis is right for you. >> what we have here is the biggest violation of constitutional rights in american history since richard nixon who broke into a watergate

office complex, one building and had to resign from office. we have a president, president obama and his enablers on capitol hill, democrat and republican who broke into nearly 300 million homes. this is the worst violation of what we have ever seen. dennis: took the nsa to court and won and early round for millions of americans. dennis kneale taking you to the next hour of markets now. federal judge saying the controversial collection of american phone records is almost certainly unconstitutional. president obama's approval rating plummeting to a new lows as he turns to america's attack plane for help and the fed could begin to taper as early as tomorrow and we have a guest to says of that happens will want to your hats. major sell-off. all this and more in the next i thought wall street was coming to terms with the caper and low inflation report out this morning but stocks down anyway.

cheryl: ben bernanke will do a little tinkering, the economy says not so fast. we have the dow down 27 points, stocks every 15 minutes with nicole petallides on the floor of the stock exchange. unmuted dale waiting on the fed, we get the announcement tomorrow. how is volume? nicole: at 230 million shares so the billion share days are not around but that is what we are looking at, down volume up piecing volume, 30 points, a loss of 0.2% and the s&p down 7.5 points, most dow components and down arrows. ocala of the mark squeezing out some gains, continually watching 3 m and boeing as they raise their dividend but though the story stocks for today. the big victories we had a couple of days after two weeks of selling and here we are snapping the street, we will be focusing on the fed over the

next 48 hours, watching the mix up 1653, you do see it moving hire. that is important and inflation numbers we got in, home builder sentiment looked good, and -- cheryl: we will get to jerry howard. a lot of economic news commemorate it. we will see it in two minutes. the biggest tech companies in america meeting with the president this morning discussing everything from the health care website, and nsa spiring. here is the latest on this meeting and exactly what we know at this hour. >> that is right. the president and tech executive, a little bit of video, the president cracking a joke about the netflix series

house of cards in that video and read hastings, the ceo of netflix one of the ceos, the meeting is breaking up. we will not hear from many of the ceos, the agenda concluded, surveillance reform something a number of executives want. and customer information as part of national security surveillance but the president wanted to talk about at as well as performance and capacity issues with healthcare.gov, the obama care website and he wanted to talk about the economic impact of unauthorized intelligence disclosures in the preview of this. let's take a look at the list of executives, 15 of them here starting off with tim cook, dick

costello, ceo of twitter, read hastings as i mentioned, marissa mayer, president and ceo of yahoo! is here, going on to our next full screen cheryl sandberg of facebook, eric schmidt, google, general counsel of microsoft is here and randal stevenson, chairman and ceo of at&t. we expect a little bit of a readout of this meeting when jay carney starts his daily briefing in 30 minutes. cheryl: peter barnes at the white house, we look forward to getting those details. dennis: the president hoping this meeting can help get back on track with voters, facing record low approval ratings. according to a stunning new poll 55% of voters disapprove of the job he is doing. 43% approved. joining me is a lawyer at fox news contributor, and matt welch, co-host of the

independence. president obama, saving his pregnancy-presidency. what to you think? >> when you are falling down you have to drive on to whomever you can and might as well reach for the top. his presidency is hurting right now and is not just because of sales but syria and the irs and benghazi. it is a snowball effect. he continues to have these problems and it is not just problems on the surface but also pr problems. he has been terrible at communicating these problems with the american people. dennis: there is a lot more talking than listening when he has these meetings. is this just for the cameras or can he walk away with real advice on how to fix healthcare.gov? >> i can't imagine anything of substance would happen in a meeting between the president of the united states and a bunch of tech ceos as regards to healthcare.gov. that is all kind of technical

specs, it is the politicization of a process that happened months ago. no value can come there at all. the main interesting value of this meeting comes from what they are bringing which is saying look, your rules for employing us in your surveillance state are wrong. he got legally rebuked, hurting them with their own customers and actually has something to do with obama's popularity. his ratings went south earlier this year when the first ed snowden revelations came out particularly among young people. his base of support in silicon valley, many young people went south because of nsa revelations. dennis: there's something had a credible like out google or facebook which pry into our privacy, giving president advice on nsa snooping? >> it is interesting that they have their own methods of keeping our information but also

against the nsa. is a problem, obviously they're keeping information for themselves but from that, to say there is an issue with obama's approval ratings in the beginning that makes no sense, he won the presidency, he has got -- i don't think -- dennis: why not just fix obamacare? >> i think that he is. like i said in the beginning, disasters rollout, not just about young people but the entire american public. the best way to look at this is google and yahoo! and twitter, social media outlets the american people use. dennis: the president turning to taxi e os when he was demonizing a lot of big business and profiteering years. >> they had their fill with it over the years with this. how many places does he have left to go whhre he is still

favorable? every second term presidency get hammered. bill clinton got impeached, richard nixon resigned. ronald reagan had dickens of a time his second term so a lot of it is natural attrition but some of it is specific to this president where he botched the obamacare rollout, that is not because of any endorsement of the economic record which is terrible for america. it is a sinking ship, but we are seeing more wrinkles to it whether it is nsa or obamacare. dennis: not like he can turn to insurance. >> he should have done a lot of things. i am not defending any of his previous behavior. the fact of the matter is to say we have three more years or two more years left of this presidency, but it is not a sinking ship. we are in this ship together and it is very cliche but we are in

this together and we want the president to fail and fall apart? >> in private moments with your most liberal friends, aren't your liberal friends terribly uncomfortable by what the president is doing? >> i am not saying this isn't getting through to certain conservatives mentioned here. we are all disappointed but he is reaching out and attacked as anti business and the reaches out of business leaders, and -- >> raise taxes on business and raise taxes or a little bit open. >> nothing happens when ceos go to the white house that economic policy -- shares >> how many tons of you been to the white house? how would you know? dennis: as any journalist know

anything? we will wrap on that unkind point, we will let the meanness hang in the air. thanks for being with us and don't forget to catch matt tonight on his new show the independents at 9:00 on fox business. cheryl: the fed two day policy meeting and the way, many experts predicting a big catering announcement that is t? kelly campbell, wealth management ceo says the answer is no. judge andrew napolitano says when it comes to the caper bring it on. both gentlemen joining me now. the fed cutting back, $85 billion stimulus program could put a major dent in the markets. how big a dent always talking about? >> it is not a great thing to do at the end of the year but q e 1 ended end went down 11%. qe2 ended and it ended 14%. it could be along the same

lines. it is scary. the market had such a good return for 2013. i am worried is the wrong time. cheryl: you don't think the markets will have a temper tantrum if we get a decision even if it is $10 billion tomorrow? >> i do think there will be a temper tantrum but that will happen sooner or later anyway so why not now? it is a great year in the market. i don't know if it is driven by earnings growth but the tabor would be a good thing. capering is not cleaning getting rid of the excess and like any good party with a big punch bowl you will feel it when they take the punch bowl away. cheryl: anytime ben bernanke, the minute he came out, at a press conference, there will be one tomorrow talked about what they were thinking, the market's got to lead point and took a dive to kelly's point. is the economy that stable? is the housing market that strong? we can take a tapir right now? >> the housing market is not

that strong and mortgages will need help going forward. caper does not mean, out entirely. what we will see is something that will favor the housing market a little bit, the most recent run up in the housing market, a little bit feverish, too hot actually so housing also could use a little slow down. cheryl: one of the things, what we saw, $2 billion, the fed running up to the $4 trillion market, reacting in a positive manner, now it seems the end of the markets are not playing the game anymore. do you think this is them saying all right, it is time, we are ready? >> a great question. if you put it in perspective if the market did really well it is for timing. why would you make the returns for 2013 look for because you want to start the capering process? the fed talk about being more forward looking and put more

guidance out. guidance is not making the change tomorrow, it is making the change first quarter. put yourself in their shoes, they are looking at unemployment, at 7%, instead of a five years ago but is that real unemployment? what about underemployment? are people making the same amount? i they spending to make the economy grow? i don't think they are. gerri: you are the one who said bring it on and i apologize, they are easing of austerity and the looking better, u.s. markets are overvalued compared to other markets around the world. emerging markets heart of a pretty hot investment vehicle for many people. >> they got clobbered before that. >> we have small issues, 20% small cap premium that is historically high, a lot historically high but this is an

issue with some of the traditional yield rich sectors, you're conservative sectors were a little overvalued, and i lean toward -- cheryl: emerging markets, you like them or no? >> they are undervalued. cheryl: thank you very much. dennis: the report of government waste is out and you will not believe or maybe you will where some of your tax dollars are going. that is what is bugging me today. wheat as your thoughts. cheryl: congratulations to the rock and roll hall of fame inductee. we will dedicate this hour to their music and kick off with this classic from cat stevens. listen in. ♪ my mantra? family first.

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cheryl: hewlett-packard beating of a fox 50 and wanted to show you this, hewlett-packard making a nice gain, $0.56 and jpmorgan upgrading the stock saying is overweight and the price target, $35, they had it at 30, a gain of $0.56, want to show you if i can big tech sector, you will see if this gives any credence, all boats rise at the same time? it doesn't make it bad for the tech names you know and love. stocks every 15 minutes to the floor of the stock exchange. 3 am following in boeing's footsteps. nice to see. >> people love dividends and a sure thing for customers and shareholders who hold these shares, we are watching 3 m and boeing, both of which these companies raise their dividends. it shows some confidence in the

company by the board and those who run it. 3 m up 2-1/4% and pulled back a little bit, one of the few names that is in the green so they raise quarterly dividend by a birdie 5% from 3 m and take a look at boeing, not only a dividend raised but buyback, $10 billion in share buybacks and hike the dividend 50% so that is big news, bowing at 13650, 1-1/3%, and one of the early names on the dow with some green arrows year to date. 3 m is up 40% and boeing is up 87%. cheryl: we will see you at the bottom of the hour. dennis: what is bugging me is the waste book, the annual report on 100 leading examples

of those ridiculous government spending put out each year by tom coburn, oklahoma republican and what it tells us is government is incompetent by nature and the only way we can cut government waste is to cut back on the supply of dollars government is allowed to spend. that example of stupid spending large and small, national guard spent $10 million on superband movies, could spend come to billion dollars for paying workers for not working in the government shutdown, a million dollars studying love and romance and the department of agriculture guaranteed fat loans for buying new homes near the ocean front in hawaii. the apartment of defense wasted $7 billion in u.s. military gear we are leaving behind in afghanistan and destroying and in the ultimate lead balloon the army spent $300 million to design and build a supera blimp before scrapping the project and selling the back of the contractor for $300,000. the more government is allowed

to spend the more it wastes across the board cuts are our only hope. tweet be at dennis kneale and tell us what is the best way to cut government waste? cheryl: the ongoing general motors ceo telling taxpayers too bad you are not getting your money back. liz macdonald will be here with details on that and as we go to break we will look at how the world currencies are faring against the u.s. dollar and another hall of fame induct the, hall and oates. when does your work end? does it end after you've expanded your business?

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>> developing news, aahelicopter crash in southern afghanistan claiming the lives of six u.s. -ptroops. they are part of the nato led international security assistance force. nato says the crash is under investigation but indicates there was no enemy activity in the area at the time. ed snowden applauding but judge's ruling against the essayists phone surveillance program claiming the ruling

vindicates his actions. ed snowden reportedly asking for asylum in brazil. in exchange he is offering to help investigate alleged u.s. spying on its soil. a massive wild fire continues to burn in california's big sayre region. it has grown to 550 acres inside. no injuries have been reported. cheryl: thank you very much. the ongoing ceo of gm telling taxpayers we are not going to repay the $10.5 billion you lost on our bailout. liz macdonald has taken a look and found more to this story. liz: let's listen to what the cbo said in washington d.c.. >> taking a ride in stock.

there are a shareholder suits that would be difficult to defend. the die was cast in 2009, it played out at the national good. >> the treasury to payroll of the dice like any other investor and investing $49 billion, lost $10 billion and that interestingly enough this is gone unreported not noticed by the media the government could have structured the bankruptcy differently and could have given as low-interest cost loans we could have paid back but you won't see the $10 billion coming back despite the fact that it is $20 billion in cash and equivalents. cheryl: the clock was ticking for them to get out. at the same time, they were the ones begging for the money gm and chrysler saying thank you in

2009 and saying lost a share. cheryl: the loss on the gm bailout, remembered gm got tax breaks. what is happening is gm turning around and paying back the $10 billion and reinvest or rather invest in billion dollars in the united states. that is exactly right, that is what he is saying, save jobs. su 108 banks got bailed out, $2 billion and tl lose more than $20 billion on the t.a.r.p. bailoutt liz: making cars that people like. dennis: the list of the top grossing actors, you will never guess who walks on top. details in media minute. cheryl: the ceo of the national

association of home builders coming up, and explicit interviewed to tell us about the numbers behind it. as we go to break look at the winners on the s&p and another new inductee in the rock and roll hall of fame. (vo) you are a business pro.

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stocks every 15 minutes, let's head to the floor of the nyse and nicole petallides, a dull day. nicole: it is all subjective and relative, really exciting day on wall street, a lot of movers for you. the dow is down 24 points. look at the names. we have some names on the move or have great stories to go with it. facebook hit a new high of $55.18. when they saw it moving to the lows and got so worried and look at it now. 5518, 1%, having new apps, new highs for visa as well, $212 today, year to date up 40%. they made it through the whole issue, general motors heading out. they have been saying europe is showing signs of life. they announced all these new models which is a really big deal, the most they have seen.

and a big story today about multivitamins and we are watching them because they make centrum, the most popular, and a study about how multivitamins don't give you any clear benefits. cheryl: home builder confidence gaining ground. national association of home builders out with its latest report moving the markets today, the reading coming in at 58. suggesting builders are bullish on housing. the ceo joins me in a fox business exclusive interview. this is the time we have this last meeting to look at the year. this is up 11 points year over year and there's a lot of concern that housing is getting ready for another bubble. how do you answer that question? >> there is talk of a bubble but i don't think you will see a bubble because of increased house prices.

they are undervalued in most markets. my concern is potential bubble rising as a result of lack of production. we are we behind in production compared to pent-up demand and if we don't get production into the pipeline that is the fear, lack of supply. cheryl: surprise to hear you say that because as we look at each of the major points of the report, current sales up 6 points, traffic of 3 points. every point you hit was positive for this report. did you know this was coming? >> a difficult time getting capital and if you and i even had capital from the time we decide to build a subdivision to the time we break ground for the first house can be a delay of three or four years, maybe even 5. there's a real lag time between when builders think the market is turning and availability of capital and actual process of

building. cheryl: how much is d.c. related? as we were going into the shutdown the index began. and we haven't seen any activity and we are back where we were in august and in 2005 for the indexes. with mortgage rates beginning to pick up, if that is what these buyers are saying, wait a minute, mortgage rates are going up, not sure about the economy. hold back the buyers, holds back the builders. >> no questions that the uncertainty surrounding the federal government had an impact and brought the index down a little bit as we went into the government shut down. likewise you are seeing a rebound effect because the american public, the potential home buying consumer is saying washington can make decisions, they can solve problems. the economy is going to turn around once and for all. gerri: this caper we hear from the fed, builders worried about

the fed deciding to taper their bond buying program tomorrow? >> builders are worried about monetary policy and availability of capital on a much larger scale than the fed decision. that will play into it but the fact is dodd-frank regulation with the failure of congress to be able to unhinge the deadlock over housing finance reform. if there is a dark cloud in the housing market for 2013, it is capital of the ability and monetary policy. cheryl: what do they want to see in 2013, housing finance reform. what do they want to see out of washington? >> there has to be a long-term commitment to sustainable housing finance system and leaving fannie mae and freddie mac and the government commitment to housing in limbo for the last three years is not a recipe for long-term sustainable economic success. we like to see congress take the momentum that they developed out

of this budget deal turned into housing finance reform and that is the best way to get the economy going on all cylinders. cheryl: what do fannie and freddie look like a perfect world? >> a perfect world there has to be continued government guarantee, there has to be fire walls built in to protect the american taxpayer that haven't been there in the past. more portly those companies have to operate under a sustainable business management that really is much more conservative in its outlook that it had been in the past. cheryl: we have heard this before. thank you very much. we will see what d.c. does and we got a nice number today. dennis: nbc and the internet olympics teaming up for the 2014 winter games, and russia in february. live on lined streams of all 98 events, more than a thousand hours of live content over 18

days, double the online time, the 2010 winter games in vancouver. the comcast nbc universal taking an exclusive approach. you can't get these on line unless you already pay one of the myriad cable channels that will be carrying the games. facebook will start adding video adds to your member feed. after delaying the feature and technical glitches and worries it might offend members. the ads start thursday and will run silently. which actors brought in the biggest box office grosses in 2018? the winner is the rock, muscle bound lane johnson's tweet the film's taking $1.3 billion combined, g.i. joe, pain and gain, robert downey jr. second one film, lineman iii, and here are the rest of the top ten. cheryl: gas prices falling despite outlooks for record holiday travel season. we will be live with the latest numbers. gerri: federal judge ruled in

the nsa collection of america's phone records likely unconstitutional. the impact on national security and privacy moving forward coming up next. let's look at the ten year treasury as we listen to another all of famer, kiss, jean simmons, welcome to the rock and roll hall of fame. [ male announcer ] e new new york is open.

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tracy: tracy byrnes with your fox business brief. kathleen sebelius announced former microsoft executive will be taking on senior advisor of healthcare.gov web site. and after it these industrials, shares of garden restaurants could be worth $80 a share, managing group, 2% of shares, red lobster should be split from the company another 6 restaurant brands including capital brill, longhorn state house, a separate company. and convince the federal judge to rule against the nsa phone surveillance program, joining me and ashley webster exclusively on markets now, 2:00 eastern, the latest from the fox business network giving you the power to prosper.

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dennis: the first ruling of its kind of federal judge declared the nsa data collection of american phone records likely is unconstitutional. part of a larger shift,st 3 is a partner at gibson, dunn and crutcher ended the assistant attorney general joins me from los angeles. thank you for being with us. what do you think of this court ruling and where will it take us next? >> it is a significant ruling, the judge in a lengthy opinion wrestled with the same issues all americans are wrestling with these days, how we balance privacy interest begins national security interest. what is notable about the decision is it is third in public. a lot times decisions in these cases are kept secret classified but it is out for public viewing and debate. the other significant aspect is

the judge really was grappling with the fact that a lot of our key legal decisions in this area date back to the 1970s which in many senses is almost appeal neolithic era technologically speaking so the judge was really wrestling with how to apply these old presidents to the modern era of digital communication, cellphones and that sort of thing. dennis: a startling thing was the government is looking at millions upon millions of phone records when time is called to place between what number and what number and where it took place and the nsa chief on 60 minutes on sunday says basically we are going after 60 bad guys in the u.s.. to go from that much stuff to go after that few people makes you feel like they are always be at the nsa. aren't they? >> one thing the judge pressed the government on is show me the need for this program. the government hasn't shown me

why program of this scope, the census and read this necessary for national security purposes. it is a very fair question to ask. if we are going to tolerate this sort of intrusion on private information there needs to be a compelling national security need. it needs to be proportionate to the invasion on privacy interests and the judge could the government to the test and found a government carried the burden. dennis: i can't find a single example where you guys say this surveillance prevented any type of event or attack. when you hear they do a sting whether they get a guy who thought he was working with real explosives and was in, even that didn't come through nsa but regular agents. why not put more. on the ground and get double agents and informants instead o records. does it turn out once you -- never possibly could be guilty of violating privacy because it

is so bothersome. >> there is a privacy issue, the fourth amendment applies regardless of the scale of the search. what this underscore is the need for reform in this area. congress, the government needs to set hard, concrete, meaningful limits and need to offer greater transparency so the public can understand what is going on mindful that we can't disclose classified information or jeopardize ongoing investigations for the light and i think this decision may be a clarion call to those in washington to enact the necessary reforms because this is an issue that is not going away. dennis: they thought they had reform to which is why we had a secret court looking at every single request and approving every single request. >> that is right and that is how these cases are typically handled. this is salutary and ventilating for the public consideration the

various arguments on both sides of the ledger and it will give the american people a chance to analyze the strength of the government's arguments, the need for this program. dennis: thanks for being with us today. st free. share of gas prices continuing their fall, the prediccions for holiday travel. let's head to the cme and phil flynn. >> the fifth year in a row that people will travel more over the holidays and that means we will use a lot more gasoline but the truth of the matter is if you look at it prices are still low because of booming u.s. oil production. if you take a look at what is going on with oil today all the stories on brent crude, risk premium, concerns about conflict in libya. they have these awful little bit. one refinery that was supposed to go on strike is not going to go on strike, no violence in libya and that is going on. the key story the oil traders

have been watching, the ukraine, the ukraine will make a deal with the double, with russia to get the $18 billion loan and natural gas prices. and a conflict with the ukraine and russia that -- always made oil prices rallied. natural gas today is down a little bit. back of of the lows, prepared for what could be the biggest blog in inventory and a couple years. well supported despite the fact we are seeing warmer temperatures in some parts of the country. that the. cheryl: not in new york, thank you. time for your west coast minute. san francisco is unveiling a 3 mile strip of free wi-fi along market street. not citywide access as was proposed five years ago but the area from castro street is the

heart of the city at tourist and financial activity. the city built and owns the wi-fi network. in oregon and battle over the state's control of liquor stores is in the breaking point. nw grocery association which represents chains like safeway filed a foundation that would privatize liquor sales and allows stores of 10,000 square feet permission to stock boost. only state regulated liquor stores can sell spirits. home prices in southern california are flat for november but sales by volume are seeing a decline. the cooling trend began over the summer as mortgage interest rates began to rise and the government shutdown looms. the median home price $385,000 according to data points. that is yourrwest coast minute. chris that government waste book highlighting the biggest government spending mistakes. how do you encourage this ridiculous spending? your responses to what is bugging me coming. cheryl: look at the winners on the nasdaq to the music of peter

gabriel who is headed into the rock-and-roll hall of fame. tñ

dennis: government waste is what is bugging me. douglas hoffman says cut government to essential functions like first established by our founding fathers. jesus had no infrastructure. mike kelly select people who run on big cuts, constitutional amendment to force balanced budget, term limits, senate one term, light item veto for

president. larry says teach employees in congress to budget 2 joy in dollar income to eliminate the deficit and pay off its $17 trillion debt. finally lou says maybe the plan for the president of the united states should require a restart with all programs having a 5 to 6 year life. and restart again. cheryl: mega millions jackpot, $600 million will for tonight at 11:00 eastern time trying. $36 million jackpot getting close toothe record, $56 million pot in march since last year. if no one wins tonight the jackpot could reach $1 billion by christmas. dennis: in line at the mall mobile goes mainstream. michele polar sell on the rise of couch congress now represents 40% of the flash sale pioneer's business. cheryl: grant to feel good pop, rock and roll hall of fame

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>> a very good afternoon. i am lori rothman. ringing up sales this holiday season on your phone. on the rise of mobile shopping and the buzz around the much anticipated ipo. the fed kicking up a two-day meeting today, so should we expect a taper this week? no way says scott black. when he says the fed taking action how you should invest around it now. aand the 26-year-old analyst whose downgrade credit a selloff for shares of candor morgan.

he joins charlie gasparino at fox business exclusive. and this, u upping up in the sta millions jackpot more than $600 million, but if nobody wins tonight we could be on our way to the first $1 billion jackpot in history. how about a jackpot in your investments. nicole, couple of big names bucking the downward trend. nicole: there are. looking at 3m and boeing. boeing 1.3%. i have been leaders in the dow. three and added 19 points, boeing about 11 points. as a boost their dividend by 35%, so