that took place over the thanksgiving weekend. the secret service now a part of that investigation, and we have the latest for you. hillary clinton, the most fascinating person of the year according to barbara walters, so is she running for president or not? the federal reserve finally starts pulling back on the bond buying, why investors aren't more shaken by the move. and this one cocktail is the talk of the metals markets all because of the cup that it's served in. connell and i are both very, very sober on this hour of "markets now." ♪ ♪ connell: that's what it's come to, you have to identify us as sober. dagen: crazy, yes. stone cold sober. connell: target's story is kind of interesting timing, right? dale dale holy, i mean, it is just breathtaking, the the scope

of this data breach. target the newest victim of an attack, a data breach on tens of millions of target shoppers, the credit card number, the actual information on the card stolen around the black friday holiday, and we're talking about in the stores, not online. connell: the secret service is involved and so is rich edson who joins us now. >> reporter: well, if you shopped at target recently and used your credit or debit card, check your statement. a massive data breach between november 27th and december 15th potentially affecting all u.s. stores, not online shoppers. affected information includes name, card number, expiration date, the cvv number, the number on the back of your card. in all, the company says the scam hit about 40 million debit or credit cards. "the wall street journal" reports the hackers gained access to data that is stored on the magnetic strip on the back of the credit or debit cards, and in the statement is company says target alerted authorities and financial institutions immediately after it was made aware of the unauthorizeed

access, and it is putting all appropriate resources behind these efforts. among other actions, target is partnering with a leading third party forensics firm to conduct a thorough investigation of the incident. the u.s. secret service says it is investigating, yes, the force protecting the president also has jurisdiction over identity crimes, access device fraud, computer fraud and identity theft. the 40 million exposed customers ranks with other major retailer card thefts. in july prosecutors reported a criminal group stealing more than 160 million card numbers from companies like jc penny, jetblue, 7/eleven and others. when asked whether the company would pay for credit monitoring for the 40 million customers, target says only that it is working on informing its guests of the breach. back to you. dagen: hey, rich, in terms of the involvement of the secret service, how unusual is it, though, even if they have jurisdiction over a crime like this, how unusual is it for them to be involved? we know that at least the first lady enjoys shopping at target.

is there any possible connection there? >> reporter: well, with the first lady and her shopping trip to target, i don't think so. remember, we're going to get a little nerdy here. the secret service started out to protect counterfeiting and eventually moved on to protecting the president of the united states. so its initial duty, it's returning to that, all the this monetary fraud stuff. so -- dagen: rich, in terms of, do we -- at this point we don't have any information about any other retailers. all we know about is target, correet? >> reporter: correct. in this particular case, all we know about is target, and those -- that last case we talked about with the 160 million, that had gone through a central server that affected all of these different retailers. this was simply, from what we understand, target network. connell: all right. dagen: in the stores, nationwide, not online and 40 million credit cards compromised. connell: thank you, rich. let's go to nicole petallides at the new york stock exchange and check in on the markets after the huge rally yesterday.

hey, nicole. >> reporter: well, hey, guys. that target story, obviously, a lead story on wall street as well. we're taking a look at the major market averages, we got in the jobless claims, slightly higher, but the four-week average s still under some key thresholds which is good news and you had the tapering yesterday and record highs for the dow. let's take a look. you saw the dow up about 300 points, today back about 18 points, the s&p down one-quarter of 1%. the vixx, the fear index, to the down styled. tomorrow we have -- downside. tomorrow we have rebalancing of some of the indices, so you may see very heavy volume, and we're keeping a close eye on caterpillar as they said deals with their dealers have dropped by 12%. dagen: from the most fascinating person this year to the white house, hillary clinton named barbara walters most fascinating person. not just the on the list, this is for 2013, telling the news veteran that she would decide on a possible presidential run

sometime next year. connell: dan henninger is the editorial page editor at "the wall street journal," no doubt jealous that mrs. clinton got the nod. what do you think of the choice this year, hillary clinton most fascinating, first of all, before we talk about her future. >> yeah, well, so much for pope francis, edward snowden, bashar assad and all the other people who were in the news. i think she quit recently. connell: yeah. >> what's fascinating is the idea out there that hillary clinton is the odds-on favorite to be the democratic nominee, will she do it, and the assumption is to be another historic presidency, first woman, that she will do it. but the thing is, connell, the next question you have to ask yourself is what are her prospects. there are so many down downdrafts out there right at the moment. the first is obamacare, the fact this she would have to run against the fact that people are so upset about that. secondly, as regards to her being secretary of state, we're living in a very disordered world right now. the middle east, tensions in the south china see, and how could

you have left us such a disordered world, and finally in opinion polls whether she's running against chris christie or jeb bush, she's about even when she should be ten points ahead. so her candidacy is not a done deal. dagen: and also it would depend on who would vie for the democratic nomination with her. if she decides to run, do the leaders of the democratic party basically keep all other comers at bay? >> well, the way the system's set up you cannot, for instance, force joe biden not to run. but it would be -- dagen: they could have discussions. >> yeah. i think it would be difficult to challenge her. but then would she be tough enough for the presidential run if there was no primary competition? connell: well, i noticed you jumped right through the primary almost assuming she would with be the nominee and then added two names of people who might run against her. are those the two most formidable republicans, jeb bush and chris christie? is that why you named them? >> they're the two who run head to head with her this these

early polls which don't mean that much. but if she cannot pull that far ahead, if she has this great reputation and these oh two republicans are running neck and neck with her, that suggests that others that you might mention, marco rubio, the rest of them, they might be able to compete with her without too much trouble. dagen: how soon in the year would someone have to decide whether they're running for president? like how soon do you have to declare your candidacy? >> well, her people are already raising money for her, fundraisers occurring all over the country trying to get up towards that billion dollar figure. i think she has the luxury of waiting for a while. there'll be a lot of pressure. if she stays in the news, will she, won't she, so i think she can hold off well into next year. connell: i don't know that barbara walters is the measure, but the fact that she was named most fascinating person -- dagen: what'd you do? connell: wasn't even around as much, that is an advantage politically. because of your name, everybody's going to talk about

you. >> so much is going, you just had this gallup poll that came out today that said 72% of the american people think big government is the big best threat to the united states -- biggest threat to the united states. that's an extraordinary figure. hillary clinton represents the party that stands for big government. so she, in addition to all these other things i mentioned, will have to figure out a campaign strategy that positions her away from, in a sense, her own party. dagen: but. >> >> she positioned more closely with president obama or her husband? because her husband was certainly more of a centrist, and so she can kind of take her pick, can't she, in a way in terms of how she runs? >> she can. but she has to somehow, you know, that creates a dilemma of whether she is her own person or whether you're getting this two-fer with this overwhelming figure of bill clinton riding alongside of her. and that itself, i think, is going to discomfort some of those independent voters who might say, well, i might like hillary, but i don't know whether i'm up for another four years of big bill.

connell: i feel like we've had in this conversation before, like we're going back to the last election and all the same things that came up. a lot of seem assumed then she'd be the nominee early in the primaries, and we were already having this interviewer discussion, and it just never happened. >> well, that's a good point, because a lot of people want to move guard into something new, and if she doesn't represent something new but represents old washington -- dagen: it does feel that way because she ran for the nomination back in '08 and because her husband had two terms as president. >> yeah. and that's why some of these republican governors, i think, have a shot. they're from the outside -- connell: governor martinez? >> governor martinez even, governor christie, golf walker in wisconsin -- governor walker in wisconsin, right? it's going to be very competitive, for sure. dagen: very interesting. i can't believe we're already talking about it, but again, couldn't avoid it. dan henninger of "the wall street journal." connell: zuckerberg and company looking to put up new shares of facebook, which we will talk about coming up.

dagen: and the moscow mule, this popular cocktail -- well, it's popular not because of what's in it, but because of this cup that it's served in. connell: almost too popular, this cup. now, starting yellen's work even before she's getting the nod to be the fed chief. more on the decision from bernanke and company yesterday to start pulling back on some of the money flooding into the economy. taper, taper. we'll have some of that a and keep an eye on all the markets for you. for example, here's a look at oil today, $98.53. this is the quicksilver cash back card from capital one. it's not the "juggle a bunch of rotating categories" card. it's not the "sign up for rewards each quarter" card.

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by the way, deutsche bank raising chipotle's price target to $500 from $440 which really is not that interesting only because it's at $519, it's already surpassed that. also let's take a look at darden, a big story today as they are considering now what to do with red lobster. they had some spin-off plans for red lobster. darden has several names urn their um -- under their umbrella including olive garden, there's a look at the stock right now, down about 6% at 49.80. so you did have the hedge fund barringtoncapital group pressuri the compa to split into one that operates as olive garden and red lobster brands and another for its longhorn steakhouse and season 52 brands. so you to do see those, the stock is to the this year up about 10, really underperforming the overall markets.

connell: lets get to this mule story now that we've teased up, and i guess cocktail lounges have a rob with what has become one of the more popular drinks, this moscow mule. they have vodka, ginger beer, simple syrup and lime, but it has this copper mug that they serve it in, and bartenders say the copper enhances the feeling of having a cold drink in your hands, but that creates an issue, of course. only in america. bar patrons are stealing the $20 cups at an astonishing pace. one bar owner telling "the wall street journal" he ran out of the mugs in just eight weeks, and bar own ors are now requiring identification and credit cards from people who order the moscow mule making people sit under the war under the batch -- under the bar under the watchful eyes of the staff. with that we figured let's look at copper. there it is. and we have the mug, dagen's holding it now. dagen: it just has water in it though. connell: it's just like -- dagen: i can make a suggestion

about ginger beer if you're planning on making in this -- ginger beer is a fabulous cocktail, but go to, like, a jamaican grocery store because it's going to be super sweet. you might not need to use the simple syrup, and it has an intense ginger flavor. ginger beers in the u.s. do not have it. connell: wow, she's just full of it, huh? i mean, good advice. dagen: ginger beer. i'm going home to make that cocktail. might have one before the show. that's why i was clear about the sobriety on the show. so what is in a name? electric car company tesla motors has started offering its model s in china. the problem, our, is the name. a local businessman currently holds the trademark for tesla and has been refusing to give it up. tesla is not the first company to have these problems in china. one was forced to pay $60 million over the use of ipad

just last year, and take a look at shares. connell: i love it when you speak mandarin for us. dagen: tesla. connell: the chinese are not afraid to be flashy with their cars and everything else. not that people here are necessarily, sometimes people are more modest. they love it. dagen: and i think ferrari, for example, their asian headquarters, they moved from japan to china. connell: loved it. whatever they end up calling it over there, they'll love it, i would think. anyway, from tesla to facebook, it's all tech, set to hit the markets pretty soon, more shares of facebook, mostly due to the one and only mark zuckerberg which we'll explain in a minute. dagen: the federal reserve finally decides to pull back on some of the monthly bond buying, so what's next for the markets? we answer, and take a look at world currencies, how the dollar's holding up today. ♪ ♪

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>> at 21 minutes and some change pt

the hour, i'm harris faulkner with your fox news minute. a growing diplomatic standoff now between the u.s. and india sparking protests in new delhi, this all started after police arrested an indian diplomat living and working in new york city. india is angry over this, obviously, but the u.s. attorney in new york says she was treated appropriately and even given luxuries that the average american citizen would not get while in custody. an update now on the fake sign language interpreter at nelson mandela's memorial. the man had reportedly been admitted to a psychiatric hospital for treatment last check. the interpreter told reporters he suffered a schizophrenic episode on the way to that ceremony. he's reportedly had a long rap sheet including a murder charge. and it is back to north korea for former nba star dennis rodman. rodman -- so weird. anyway, he says he's there to help train the country's national basketball team. he also expects to meet with his new bff, kim jong un, who he

calls, quote, a very good guy despite his atrocities. those are your headlines, now back to my friends dagen and connell. dagen: but i'm your better friend. >> i love you both! maybe you just a little bit more, dagen. connell: we don't like your editorial comments today. >> you don't think he's odd? he hangs out with a dictator, dude. connell: he's out of his mind. >> and he wears foil on his head. connell: who's going to play on that team? dagen: harris, merry christmas and blessings to your family. >> that's why she's my favorite, she knows that rodman's weird. connell: that's just horrible. happy new year? >> back the you both. thank you. connell: a little social media stock sale with facebook and its ceo about to sell a big block of shares, talking about 70 million to be exact at its second offering. dagen: so how will this sale affect zuckerberg's voting control in the company? joling kent is covering the story. >> reporter: hey, dagen and

connell, mark zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill as part of an offering of 70 million class a common shares. thousand, zuckerberg will also pick up 60 million class b shares, this means he will now retain control of 62.8% of the company's voting power down from 365.2% -- 65.2%. other stockholders will share the remaining shares. at yesterday's closing price, 55.57, the total offering will be worth about $3.9 billion. facebook joins the s&p 500 at the end of trading tomorrow, and no doubt this sale is very strategic. in fact, facebook said the sale is to take advantage of demand. that makes sense. @utual funds index for the s&p 500 must buy the stock which serves to support the price by taking away some of the downside risk. facebook said it will use proceeds from its portion of the offering for working capital and other needs. taking a quick look at how the stock is doing right now, it's

down about 1.82%. and also facebook announced zuckerberg is giving away 18 million shares worth about $1 billion to the silicon valley community foundation. that's a philanthropy research and investment group. last december he also donated to them as well about $500 million worth of stock. dagen, connell? connell: jo, thank you. dagen: where investors are looking now that the federal reserve has finally made a move to cut back on that bond buying. are they still -- what parts of the tock market? are they looking elsewhere? we'll look into that. connell: and then the big milk scare tied to the farm bill. talk that we could see prices at $8 a gallon, so, well, jeff flock will get into in the way jeff block does. dagen: mood killer. an udder disaster. [laughter] connell: well, hey, s&p winners. facebook, yeahment. ♪ ♪ [ ma announcer ] what if a small company

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connell: as we come up on half hour, here's what we have coming up on "markets now." the new market mentality plumb the money off of the table. milk does a body good, but nobody wants to pay $8 per gallon. all tied to the farm bill. jeff flock will fill us in on it. there could be a way for your pup to read your mind. coming up. dagen: and signing a deal worth up to $4.1 billion spent nicole

petallides has more. nicole: lets take a look at both of these shares. and you high, it was flat at one moment but it is a new high as we move forward. this is a deal valued at $4.1 billion. i noticed flat after hitting a new high today, but they are buying bristol out. the whole venture for the stake in this diabetes joint venture is 4.1 billion. what it does is it boosts them for research and development. looking at bristol myers, 2.8% to the upside, up $1.50. the ceo saying the deal will help return astrazeneca to growth, and bristol raising the quarterly dividend, so that is important as well, by 3%. so big news there as well.

year to date up to 55% and astrazeneca up about 25%. back to you. dagen: thank you, nicole. connell: all right, talk about some taper now. reducing the size of the month multi-asset purchases by 10 billion. that was the big story yesterday. the stock market closed at a record by the end of the day yesterday. dagen: th result of the fed movement or perhaps a result of federal reserve policy on future interest rates. peter barnes joining us live on the white house. peter: that is right. looking at three things really that came out of this announcement yesterday, finally getting this taper going number one, the message that the fed feels confident the economy is moving forward and will be strong enough to start pulling back on the taper. number two, the fed got the message perhaps taper is not tightening, which is what

bernanke and compan company wasg to tell the market for several months after some earlier problems with their communications. and number three, this kind of bonus the fed is going to offset the tapering by pledging making the strongest commitment so far that is going to keep interest rates, short-term interest rates low, well past the time unemployment hit 6.5%. some economists say continued low interest rates for car loans, business loans, home equity loans, credit cards, perhaps into 2016. >> that added bonus of switching away from a balanced sheet approach of quantitative easing toward something more traditional like forward guidance also gave the market little bit more confident the fed is not shutting the door.

they are still very clear getting liquidity out there. peter: on tapering with that, even with e taper going $10 per month for the neck next of t year, the fed will still buy about $10 billion more in bonds next year, half a trillion more. so that will help. dagen: we had one guest on recently who suggested the fed had to pull back at some point because they ran out of product to buy. thank you, peter. let us ask our next guest, global investment strategist. good to see you. when you sat down, plenty of more things to worry about yesterday, merry christmas to you. do you think yesterday was a false reaction to what the fed did? >> the interpretation is the fed made this decision because they felt the economy was strong

enough. despite what the fed does irrespective of what the fed does with tapering. i think the real challenge the market is going to come if we get some slightly softer economic data and the fed does not come back and say we cannot have that, we will start picking up the asset purchases again, how will the market handle that scenario? dagen: what if the fed decides it will pull back with greater speed. 10 billion is a small amount of money down to $75 billion per month. what if it picks up speed earlier in the year, that would be bad and negative for the market as well, wouldn't it? >> it could be in the short term. we still have to think about how they're going to do with with the excess reserves the banks have. even though we got the first hurdle relatively easily, there's a ot more that could still trip up the market.

dagen: if they don't pull back with some speed, if it is slow, are you watching for a bubble in the asset class beyond what we have already seen? >> absolutely. it is not cost free, we have to worry about what implications are. knowing that investors are buying a lot of corporate debt of all types of maturities and risk at a lower rate than they would have in the past, are they being compensated for that? we may not know until the next slowdown in the economy, but there will be repercussions. dagen: that is the kind that fueled the housing bubble where they were buying questionable mortgage securities for example. what do you like with the uncertainty of what the federal reserve does in the near and distant future? what asset classes within the stock market to you like? >> knowing there could be turbulence ahead if we get

different measures from the fed equities are still the preferred asset classes. going back to non-monetary policy. underlining corporate earnings growth is still solid. positive guidance is still reasonably good. we feel that is what people should focus on and try to ignore as much as they can the noise you might get around different fed policy no space. dagen: do you worry there will be a flood out from investments because that and of itself could cause a spike in longer-term interest rates. >> in a sense that is already happening. if you look it over the course of the year, it has been pretty much flat. there has been a huge shift away from core treaaury municipality market into the higher-yielding leveraged loan. a lot of that is already probably taking place, people know this is coming in, so they are probably well positioned and

won't necessarily make another big move if we see more tightening. dagen: thank you for that. come back soon, dan. connell: were grea going to talk about college bookstores. a good story because apparently they're changing the the way they do business and we have the story from campus book rentals ceo for the trend coming back. dagen: soon you may be able to know what your dog is thinking and hear them. we have the details on the new device being developed that every single pet owner would probably buy. connell: everybody seems to be talking about this doctor dynasty story today, one of the stars of the how suspended making some controversial remarks to say the least, and dennis kneale has that story coming up for us in terms of the media side of this. dagen: the decision-making but what ame did.

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spiegel i'm lori rothman with my fox business brief. pending sales have dropped for third straight month. it fell in november because of

low inventory and higher mortgage rates. 4.9 million homes sold last month, it happens to be the lowest number since december of last year. those mortgage rates increase once again according to freddie mac the average rate for 30-year fixed mortgage jumped to 4.47% last week up from the previous 4.42%. now a year ago the rate was more than a full percentage point below that. number of workers filing for first-time unemployment benefits rose last week up 10,000 from the previous week to 379,000, so that is the highest level since the last week of march. that is your business from the fox business network, giving you the power to prosper. [ female announcer ] there's one thing

dave's always wanted to do when he retires -- keep working, but for himself. so as his financial advisor, i took a look at everything he has. the 401(k). insurance pies. en money he's invested elsewhere. we're building a retirement plan to help him launch a second career. dave's flight school. go dave. when people talk, great things can happen. so start a conversation with an advisor who's fully invested in you. wells fargo advisors. together we'll go far. connell: we are back on "markets now." video killed the radio star, so they say. we ar about to be told the bookstores are not necessarily out.

some are changing with the times and students can rent and swap books and take advantage of low online pricing. joining us now, on the show before campus book rentals ceo. people can go rent their books rather than buy them. the idea of the bookstore being necessary, need a little bit more convincing. i thought it was kind of the last of the mohicans. now why would you need a bookstore? >> it would come as a huge surprise, bookstores are coming back in a very fierce way. you have to remember most bookstores are about 100 years old if not older. like most, 10, 15 years ago the future just caught up with them. they have toys and transparency, they can search and find things and as a result the bookstores got cut out. connell: tell us what you do

specifically in this will lead to a follow-up. what does your company do? speak we provide technology and services that let them win back the market share. we provide rental options and the ability to compete online. it is positioned perfectly, tessa products i need, the perfect product, i just need the price to be right. connell: you have made it your interest the bookstore succeeds as opposed to making it you can do your business which you probably could online. you could have chosen one path or the other, why the bookstores? >> we're going to partner with existing distribution channel because they can provide more value for students then we can. it takes a couple of days to deliver the book to the student. it takes a boost for a couple of minutes. the value is in the bookstore, all they need to do is get the price and products and they can when the students back. connell: we had a story

yesterday talking about the library of the future, it was all apple computers, no physical books at all, people went in and rented e-books and stuff like that. is that the college bookstore in the future? people make an assumption these things go away because they see other businesses go away. >> we think the bookstore will be the epicenter for college content and unique relationship the bookstores will have with the professor that translate to the students know exactly what they need when they need it. it will be the epicenter of the future. connell: there is not an online portal that would take that place the professors could communicate with? >> it would be the bookstores e-commerce website. connell: still done through the bookstore. >> exactly. they hold the ability to gear toward the student. connell: what is your next move?

you have made her bed and physical bookstores which is a surprise to the conventional thinking of technology, what is next for you? >> more and more technology into the bookstores. they can trade books amongst themselves. they used to have to trade through wholesale channels which drove prices up for students. we have removed the barriers and allowed them to trade between themselves. connell: before we let you go on pricing, so much cheaper. renting books versus buying them or rent them from you, what is the price differential? >> sieving students almost $2 million in two years with their own program and just their campus. students are flocking to the store. a good client. connell: thank you, sir, good luck with everything. dagen: well done. gold falling below $1200 for the

first time since june after the federal reserve tapering announcement. connell: joining us from out in chicago with the trade today. sandra. sandra: this is starting to make a lot of the strategists goldman sachs and ubs and the likes making them look pretty good because they started to tell their clients to run for the exit several months ago in anticipation of this selloff and here we are today gold prices down $35 below $1200 per troy ounce. off the lows of the session but we are seeing a significant selloff with the seamless program by $10 billion starting in january. not much reason to hold onto the safe haven assets precious metals are considered. gold prices down 28%, that would be the single biggest annual drop for a gold dating to 1981, and by the way this would be

firmly ending a 12 year bull run for gold. from 2008 through 2011 the fed seamless program drove gold prices up 70%, so as they unwind that, expectations gold prices will come down even more. by the way, guys, i percentage basis on the day and for the year silver down 36%, goldman sachs still saying gold will sell off 15% in the year. back to you. dagen: by the way, top chef last night's episode was on the campus of lsu, they had to cook cafeteria food. nicole: i am sorry i have missed it. dagen: they will rerun it a thousand times. connell: congress inching closer to what they call dairy cliff.

hashing out the farm bill before milk could jump up to $8 per gallon. dagen: jeff. jeff: i missed that this morning. here in illinois, all eyes back in washington. we did not go over the fiscal cliff, but w we're going over te dairy cliff. that is the only body in the section, that means they will go home without having resolved the farm bill, we go over the dairy cliff. the secretary has a lot of discretions to lay the implementation. they were able what happens? >> there is a certain reality, but we hope it doesn't come to that. we don't have to ruin consumer demand.

jeff: some people say it will be $8. they say it will be closer to maybe $5. here is the question on this farm bill. they've already reached a compromise. why do we even need a farm bill? some people call this corporate welfare for agriculture. why do we need a farm bill? >> no different than having car insurance or homeowners insurance. it takes something that we can plan on in case we get into a situation like last year. last year one of the worst droughts in history, and i don't believe at this point we have had a hike in the disaster bill. jeff: it takes away the direct payments, which some people don't like and replaces it with insurance so if you have a problem like this guy last year, they have a way to deal with that and not go out of business.

everybody down here in farm country have their fingers crossed. we will be examining different pieces of that bill. connell: thank you, jeff. dagen: doesn't every dog owner wonder what their pooch is thinking? a device is being developed that will read your dog's mind and translate the thoughts. only a few options, and hungry, hate you and play ball with me. we will tell you more coming up.

dagen: every dog owner wonder

this, what is my pooch thinking? soon you may not have to wonder. there is a special headset, can't make this up, been developed that is supposed to read your dog's brain waves and translate them into human speech equivalence, which are then relayed through inaudible speaker on the device. more neutral thought patterns include things like i'm hungry, i'm tired or who are you. they're launching a crowd funding campaign to bring money in and give the headset to consumers. ramon is actually smiling in this picture. you know why? he is writing in a sports car because he is a bad you know what. let's take a look at pet smart. he is my baby. there you go, here is how they are doing. connell: another tv star under fire for comments he made.

dagen: the patriarch of the family on "duck dynasty" on ame. his show, best-selling book, what did he have to say? dennis kneale has all of the story. dennis: just in time for the january 15 launch of the season five of "duck dynasty" on ame. quite popular show, but he says basically gay is a sin. he says homosexual offenders and male prostitutes are not going to inherit the kingdom of god and that brought an instant response from pro-gay groups and turn bringing an apology from ame suspending him indefinitely. and phil robinson comes out with a non-apology apology saying i love and respect all of humanity, but the bible preaches and teaches that men should be with women.

and the other cases, alec baldwin antigay slur, saying foul things about sarah palin. paula deen with the n-word. this guy did not use a slur, did not use hate, just said i bible teaches me gay is a sin. religious freedom first amendment, should he pay a price? dagen: and there is a backlash to suspend him as well. connell: that is the free market. right before the show debuts. dagen: we have to wrap this up so dennis can take his seat. more on the massive security breach at target. 40 million credit card numbers, debit card numbers, revised including customer information attached to those. connell: critics of global warming and whether they are being muzzled in some way. coming up when "markets now" continues. 's not the "limit t ch i earnvery month" card.

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>> this is not intended to be irritating. on the one hand, asset purchases are still going to be continuing, both in the balance sheet, total amount of assets will probably be more than was expected in september 2012, you will have a very substantial balance sheet continuing to hold. dennis: the fed said ring on a taper and barely budge from the record high said yesterday. dennis kneale with cheryl casone to take it to the next hour of "markets now." attention target shoppers, your credit card information may have been stolen. and gold on track for biggest annual loss since 1981. what to do. a guest who says by now. global warming naysayers being actively silenced? here's what is bugging me today, and i want to hear from you.

this and more on the next hour of "markets now." cheryl, thought we had turned down a big way today at the dow went up almost 300 points, but has held off almost seven points. cheryl: yesterday was a really exciting market day. we are trying to hold off, down seven points right now about 16,000. stocks every 15 minutes, nicole petallides on the floor of the new york stock exchange hoping for a santa rally. hopefully will not get dashed today, that is the plan anyway. >>nicole: the dow was up 300 points. today the dow down 40 points more than where it is right now. lowest point in 16,121. we have seen significant improvement, moving into positive territory. the nasdaq down one third of 1%, the s&p 500 down a quarter of 1%.

but it is worth noting yesterday everybody was waiting on the fed, we heard from the bernanke 10 million in tapering and with that the market rallied big time and the 40th record close for the s&p 500. i know you will be focusing a lot on gold. i see the drug index. drugs looking good. dennis: the secret service investigating massive credit card data breach leaving millions of americans vulnerable to a hack attack. rich edson joins us with the latest. rich: shoppers who use credit or debit cards at target should check their statements. they could have hit all of the 1700 plus u.s. stores between november 27 and december 15, basically most of the holiday shopping season meeting the thieves hit 40 million cards

including names, count numbers and expiration dates. online shoppers are not affected. "wall street journal" reports the hackers access information on the magnetic strips of the back of the cards. targets president and ceo says targets first priority is preserving the trust of our guests and we have moved swiftly to resolve this issue so they can shop with confidence. we regret any inconvenience this may have caused. target would only say it is working on informing its guests of the breach. following preaches at hundreds of stores with jcpenney, jetblue, tj maxx and others. they have jurisdiction over identity crimes, access device fraud, and identity theft. back to you. dennis: thank you very much, rich edson. cheryl: is bra this was very

sophisticated attack. target not coming out telling customers until they were outed by a security blog. how bad is this, in your opinion? >> the order of magnitude at this point in time is extremely concerning for target as well as other retailers in this space. they will see this may span even farther than 40 million credit cards. cheryl: that has been some speculation on the blog because michelle obama was photographed shopping at target, some connection to her. did the secret service only get involved in this with daily security? speak it is protocol having gone through forensic investigations, you get the secret service involved in order to process incident and move swiftly through that especially order of magnitude of 40 million customers. cheryl: we don't have answers,

we only have target saying yes, it happened. is it possible an inside job? they're going to of target headquarters. >> to be within the realm of possibility this was a digital insider or orchestration between external criminal group with the insider to pull off such a hack into the target payment process. cheryl: you have been involved in so many of these inveetigations, but you tell me. spec with a vested who may have carried out an attack? is this something coming out of europe potentially? the element of factionalism in which they attacked targets such as targets to use the fund, so most likely those type of geographic areas for those of cybercrime origins to come out with a level of sophistication and proliferation.

cheryl: not online, not noble payment. you make an interesting point, interesting mobile payments being safer than consumers going in to stores and swiping their cars, can you explain that? >> with the evolution the payment process and transactions not only in store, but online. we will see demonization of credit cards in stores. qr codes where you can scan to pay for your latte or specific one-time password codes that offeauthorize you will be the future. if you look at europe and their fraud and the amount of reduction, it is staggering improvements with simple technology and like that.

more and more capability on our phone to do transactions. cheryl: there is an app for that. talk to me about debit cards because credit card fraud, like that can get the bank on my side. a lot of people i assume using the debit card, punch in the four digit pin, what is it about those people were wondering if their checking accounts could be cleared out tomorrow. >> as i saw the story unfold i called my wife and said did you use the debit card at target, and if so let's change our four digit pin as a precaution. debit cards are a little bit of a different animal because it is subsequently tied to your checking account. recouping those kind of costs is a little bit challenging depending on the card issuer or

the bank a little bit different. cheryl: his may go down as one of the biggest data breaches ever seen. maybe worldwide. potentially 50 million cards at this point. are they breaking any data security loss? tjx had a similar situation and they paid a multibillion dollars fine. is that the same thing that could happen to target, you think? >> certainly forensic investigation is unfolding. the pci standards board will be involved in this investigation. last but not least the card issuer, big banks will also be extremely interested in the evolution of this and what they can do to make sure this doesn't happen again. cheryl: tjx was a multimillion dollars, not billion. i appreciate your take on this. >> certainly.

dennis: the fed going from santa claus to the grinch. the post taper euphoria wearing off as investors looked beyond the central bank to brace for 2014. joining us now. you say you are surprised at the taper announcement coming yesterday and it wasn't actually even more. >> yes, i was late in the taper announcement in march but $20 billion reduction rather than a $10 billiin they announced yesterday, something that is what sped it up. they took a very small baby step and that is why. i think overall the purchases next year will probably add up to less than $400 million, i think they will wrap up the asset purchase program by september or october. dennis: do you see the pull back the fed did as a sign the economy is getting stronger, or the fact $10 billion a sign they still worried the economy is weak. >> they still worried, but

definitely a sign that indicates the economy is strengthening and despite the unemployment numbers this morning, all the leading indicators, they are all pointing positive and the fact gold is tanking reinforces the fact investors no longer feel the need to be in that safe haven assets. i believe it is all positive going forward in the aggregate. dennis: you were a former fed economist type of guy back in the day. what do you think in terms of the movement it took, is it doing more for image or because the economy is looking a lot better? >> the economy is looking a lot better. look for average job well above consensus. economy will add 230,000 jobs next year. that will be a healthy economy. certainly tapering. ben bernanke could change the

emphasis even when the finished tapering by setting the pattern may balancc sheet they have increase in economy to monetary policy in the face of improving economy next year. that is why they announced the taper right now because if it is confident next year. dennis: you think they will just validate current vibrations rather than growth. that is kind of tablet given the rosy outlook you just gave. >> that is right. this year the increase of almost 30% have almost built in that improved economy. the market is very confident about having a nice economy next year. they have already priced it in, so next year more of a year of validation and appreciation. dennis: we are not that high we look at 2007. >> i agree.

i do believe we will have high single digits or low double-digit returns from the market. a very attractive place to be next year for investors. dennis: sentiment is still good because where else would you go with the historic lows and the fed promising they will stay that way into 2015. thank you for being with us. >> thank you. cheryl: may have avoided the threat of $8 per gallon milk but still concerns of the passage of the farm bill. welfare for farmers, we will go live to a farm coming up. dennis: and against global warming theaters disappearing from newspapers and websites. our naysayers being silenced? it is what is bugging me today. first, a look at energy. hi honey, did you get e toaster cozy?

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cheryl: dow down five points, want to show you a sector i am watching, that is technology oracle, net income, falling 1.1% for the fiscal second quarter. a big mover. operating expenses up for the company and getting pressure from online competitors. watch somebody like ibm, one of the biggest competitors to oracle. goldman sachs took their target to 41. six total analyst changes on oracle today. a quarter after, let's go to the floor of the new york stock exchange and nicole petallides. big news from red lobster. who doesn't love red lobster. nicole: red lobster, olive garden. red lobster is the story today.

the stock the downside, four, 5% throughout the day. $50.52 per share. they say they will sell or spin off red lobster. red lobster has not been doing too well, competing against chipotle and the nara, companies that do not require taping. they said don't bit, you are too complex of the company to continue to compete against the likes of cheesecake. slower openings of new branches of longhorn steakhouse and suspending expansion of the olive garden branch. the olive garden line. a lot going on for darden. back to you. cheryl: we will see you at the bottom of the hour. dennis: what is bugging me is the debate over global warming. a new level of intolerance. one side demonize the other for

debate at all. science is undeniable, mankind heated up the earth and we're all going to die. soon, unless we fix it fast. ably he disagrees is demonized as a denier. they denied the holocaust never happened. president obama likens doubters to the flat earth society. that kind of scorn for the opposition is dividing this country and weakening his presidency. now the "los angeles times" has stopped running any letters to the editor that gain social warming. a red editor suggests as moderators responsible for what millions of people see, to allow a handful f commentators to mislead our audience is simply immoral. can you believe the arrogance? even if you buy the doomsday argument you really want all of the debate on the issue halted?

it makes that he is, not weaker. try to silence that opposition is a sign of weakness, not strength. do the views of global warming doubters still deserve to be heard? cheryl: sales of existing homes to the first year-over-year drop as mortgage rates tick higher. real estate ceo going to join us next. dennis: gold look at the first annual loss since the year mtv debuted. we have a guest coming up who says now is the time to get in. look at the world currencies against the greenback. when does your work end?

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>> at 23 minutes past the hour, this is your fox news minute. activists in syria trying to rescue a man trapped inside of his harm done a car after building fell on it. this is a city where a part of syria, the aerial attacks by asad regime have killed nearly 200 people in the last few days.

and the estimated 100,000 who died in the civil war there so far. ukraine's president speaking out telling the west to mind its own business and stop intervening in ukraine's internal affairs. the president announced plans to join a russian economic union. a plan that would move the country farther away from the u.s. in the western allies. an update on the fake sign language interpreter at nelson mandela's memorial. he has limited to a psychiatric hospital for treatment. he said he suffered a sku theatric schizophrenic episode on the way to be thermally. those are your headlines. dennis and cheryl, back to you. cheryl: you are not perfect? >> never. although my shoes are good. cheryl: existing home sales drop in november with the first year-over-year decline in nearly two and half years.

this while mortgage rates continue to climb. joining me now with her take on real estate, better homes & gardens real estate ceo. we are starting to wonder if this is the change in the housing market because of interest rates that we have been predicting. is that what you think? >> if we take a look at it, cheryl, it is three things. interest rates have increased, let's face it, 30-year fixed is up 1%. it is still very low. number two, credit is still tight. people who want to buy a home can't. and them or three, inventory levels are still very low, five-month supply listings. cheryl: when initially i was looking at the date of this, sales volume lower but prices nationally that are higher. you think that is a supply issue? >> partially a supply issue,

absolutely. cheryl: what about first-time homebuyers? the average twentysomething buying a home has still been down on a percentage basis. what is going on with these kids? >> did a recent survey, and what is told us was they want to buy a home, they value home ownership, the dream is important to them. some just cannot afford to do it yet. that speaks to the unemployment rate. they need to save up money for their down payment. cheryl: i would have thought there would be more activity the last couple of months because we got the taper, we know interest rates will go up. are they not picking up on the fact interest rates are going to go up? if you want to get something, now' is the time. >> we are in the holiday season, historically this isn't a busy time for real estate, people are focused on other things, the

spring market is normally an early spring market so we remain optimistic in the long haul. we are in the early stages of a long-term recovery. we would like to see everything continue to rise dramatically month over month. in a long-term recovery, it ain't going to happen. cheryl: let's talk about 2014. say unemployment at 6.5%, interest rates say 5%, 5.5%. is the economy strong enough, could we handle that? >> directions for 2014 are saying yeah. it is all a matter of that balanced market. the number of buyers that can afford to buy. cheryl: i had jerry howard on, the builders are so optimis that was a bit of a surprise. simply because of what we are seeing and the numbers for what we're seeing today. steadily falling over the last month. do you think jerry has a point

builders are optimistic because the housing market still has room to run? >> it still has room to run. looking at the freddie mac economic update on housing and today's 30-year fixed rate 70% of affordability around the country. at that rate continues to go up, that percentage of affordability will drop, but right now we are still in a very good place. cheryl: we will see what happens. thank you. >> thank you, cheryl. dennis: we may have avoided the threat of $8 per gallon milk but the concern of $6 over the passage of the farm bill. we go live down on the farm next to you to cheryl: you know jeff flock is somewhere out there, right? snoop dogg is looking for an intern. interested? everything you need to know in the west coast minutes. first, a look at the winners on

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stocks are flat with the 300 point gain yesterday. nicole: the dow jones industrials in the green. the low of the day with 16,121. we came off of that and consolidated and holding on to the 300 point gain yesterday. let's look at some movers worth watching. target, we know over 40 million credit cards, debit cards, certainly now, working with the secret service, grand theft, very sophisticated in stores across the country, looking at that. facebook which is up 100% but you have mark zuckerberg and another director selling shares, ordinarily $4 billion, that is the overall shares, pier one, good numbers, good sales, winnebago revenue mist, ups a new high delivering all your holiday shopping.

dennis: thanks very much. tracy: talk of a dollar a gallon milk is trying to hash out a new expires at the end of the year so jeff flock is live from a dairy farm in illinois with more. jeff: we are trying to get it from the cow's mouth as opposed to the horse's mouth. what do you think of the inaction in congress on the farm bill? no comment from the dairy cows. scott halperin, who got this heard, has a comment. you have been two years without a farm bill, you're hearing a compromise already reached? >> we hope it is getting close. we have been operating two years on extensions. it will be nice to know some certainty for the next few years. jeff: let's look at the senate in session right now on capitol hill. here is the headline. they are going to go home. we are going to go over is this barry cliff.

let's put up dairy prices at the moment. national average for a gallon of milk is $2.37, cottage cheese $2, yogurt $3, you are talking doubling or tripling of these prices if you go over the dairy club. >> we sure hope it doesn't get to that point. the secretary has discretion to use to not go over the cliff but the last thing we want is superhigh prices. jeff: farm bill. how important is that to you? this is corporate welfare for agribusiness. why do you need a farm bill? took a look at prices, you had a good growing year. most farmers have done pretty well. what do you need with a farm bill? >> was a pretty good year but in comparison last year is the year we needed the farm insurance and that insurers not only stability for the farmer but stability for

the products. jeff: that is the product, no comment from the dairy herd but they are eating a nice blend of straw, a little bit of corn, distillers' grain, good stuff, that will make nice milk, hopefully not cost $8 a gallon. cheryl: jeff flock in illinois and monitoring what is happening throughout the day on fox business. dennis: gold continuing its slide, six month low ahead of the federal reserve's first round of tabling the start next month and my next guest says don't count out the precious metal yet. scott carter of beer capital is watching all things metal and joins me from l.a.. do you like gold because you think the economy will fall apart and gold rises or do you like it because the economy will grow and gold is a hedge against inflation when the economy grows? >> the former.

the economy is weaker than we are getting in the headlines. thanks for having me. the fed move yesterday was a face-saving move, they're pumping $75 billion a month into the market, $900 billion of accommodated policy. they announced interest rates will stay low until we eternity. all of it is bullish for gold because the economy is weak. the fed can't get out of the way and we have a problem economy being driven by 12 people at the federal reserve. dennis: the economy has been weak like this all year long. the past 12 months, average job growth of 200,000 jobs per month and why is it that gold which fell 30% this year will go up next year if the economy was weak? >> it is a good point. gold had a bad year. physical gold has been in high demand not only in the west but here in the u.s.. the price is down largely for the same market. if you look at the underlying

trend on the economy and employment is down because participation rate. that is a big driver. you have record number of people on food stamps. the headline is misleading. i might be the lone voice in the wilderness but i think the economy is much weaker. the fed knows it, they are telling us this and that is why they have accommodated policies. janet yellen is above. we will be well into 2014 before the fed starts to get out of the market. dennis: do you have no faith in the fed to do a good job pulling us out of this thing? the very fact that the fed cut by $10 billion yesterday, that meant the fed sees the economy is better than you think. >> maybe i am a little jaundiced but ben bernanke was taking a bullet for janet yellen. they have to trim things back. he took a modest step, janet yellen is coming into the new job. she will not trim things back so

what you have -- let's face it. the fed is propping up and creating asset bubbles. it is a bobble making machine. equities are overvalued, interest rate that being suppressed. you have favors getting destroyed. the bond market is not doing well and they want to keep interest rates low. this is not an economy standing on its own, this is a cropped up economy and we can't declare the economy healthy until we get the fed out of it and that is why i am bullish for gold and i think this is a great buying opportunity because this backdrop will be healthy over the long term for having hard assets like gold and silver and other hard assets like real estate. dennis: the only problem is the economy is as weak as you say, the fed doesn't paper anymore and it is okay. thanks for being with us, scott carter. cheryl: kanye west coast minute.

jerry brown going from defensive to offensive as he tries to stop california businesses from leaving the golden state. official announced they will offer $30 million in tax credits to businesses especially those that are attempting to flee. businesses must prove they will use the credits to not just pay in california but also create jobs. noble energy believes it will be drilling for oil in northeast. for the next ten years. the area known for gold is likely rich in black crude. noble is seeking permission from the state to drill exploration in that area. snoop dog looking for an intern for a day. did i say that right? icon test will be entered for a chance to spend one day in l.a. you will be treated to a lunch of chicken and waffles, video games, world domination, a promotion to raise money for charity. you are also going to get a look

inside, especially backstage. dennis: where you will be affected by secondhand smoke of an entirely different kind. doesn't kill you, just makes you want to eat chocolate. things not too ducky for the popular "duck dynasty". cheryl: on the road with hospitality, a company betting on the country's cities like new york, philadelphia and miami. [ male announcer ] here's a question for you: the energy in one gallon of gas is also enough to keep your smartphone running for how long? 30 days? 300 days? 3,000 days? the answer is... 3,000 days. because of gasoline's high energy density, your car doesn't have to carry as much fuel compared to other energy sources.

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tracy: tracy byrnes with your fox business brief. workers filing for first-time jobless claims rose last week, up 10,000 from the previous week to 379,000, the highest level since the highest week of march. facebook shares lower after the company launched its first secondary offering. the offering will be 70 million shares, 27 million shares of its class a common stock. of those 41 million will come from mark zuckerberg. facebook is set to join the s&p 500 after tomorrow's close and after zeneca will buy out bristol-myers squibb at stake in diabetes, $4.1 billion, asters

and at that ceo is expected to affect 550 million people globally by 2030. the latest from the fox business network giving you the power to prosper.

shane mack bedding and big cities, taking hotels in the country's most popular urban areas like new york, boston, miami and washington and giving them a facelift in hopes of lucrative pockets of the travel sector. joining me is the president and c 00 of her show hospitality trust. thank you for being here. this has been a $10 million revitalization project, this is really the top hotel, philadelphia, why pick on this project now? >> for 25 years t

captured the hearts and minds of travelers from around the world and it has occupied a great and special place not really in the minds of global travelers but in philadelphia where we are based and located. we had an opportunity in march to acquire the hotel, since we put in as you mentioned $10 million in redesigning and reprinting the hotel, we see an opportunity to celebrate and modernize what is so beautiful about this property. our design is articulating what was beautiful about the property and bringing it out. cheryl: you have 48 hotels and publicly traded on the stock exchange, and your peers, one of the top performers in the group. tell me about the strategy. you go in, take these dilapidated hotels, just bought a couple in miami, fix them up, what is the value to your

shareholders besides the dividend which is nice obviously. >> we offer a strong dividend to shareholders and provide strong value-added benefits to the properties. the properties we are acquiring, they have an opportunity to be repositioned to more squarely attract the highest on business travelers as well as other growth opportunities in the state today including international travelers. we will acquire hotels for we will build hotels from the ground up. earlier this year we opened a hide union square in new york city, we have several new hotels opening in new york city the beginning of next year. miami, the business traveler, increasingly the destinations of the world. cheryl: let me ask you, basically you are going in, owning and operating these properties but they are different hotel names that with

these are branded with like marriott or hilton, how do the partnerships work to your benefit, that we are dealing with here. >> that is a distinction. we own and operate hotels while lot of global flags with grant partners like marriott, hyatt, starwood hotels and resorts, as well as independent hotels like the rittenhouse hotel, depending on the market and the location of the assets, depending on the market position, that it can occupy, we look to various brands and independent executions to most squarely provide what the guest is looking for. the global brands provide great distribution networks from around the world but a smaller property like the rittenhouse steps away from rittenhouse square and already has a

legendary brand and reputation. cheryl: you are doing a textiles and wellness spa center? named lead. thank you. dennis: natural gas taking near 5%. its biggest weekly drop ever. let's live to the trading pits of the cme, phil flynn. phil: this wasn't supposed to happen. the united states producing record amounts of natural gas. cold temperatures from coast to coast really put a dent in those expectations. the markets reacted, it is still stunned, the highest prices since may. normally after a bullish report, the temperatures are going to warm up a bit we see the market pull back in gas. that isn't happening and the reason is what may happen after the warm-up.

there is a lot of mixed prediction. some people say it could be one of the coldest winters in history. that may keep this market well supported after a stunningly bullish report. dennis: thanks very much, phil flynn. almost fried a media minute, "duck dynasty" disaster. day and the network suspend the patriarch of its popular reality show from making anti-gay comments. phil robertson, is easy taught bearded leader of the family does color business outraging programs by saying gay sex is a sin. a indy apologizes and suspends roberts and the robertson put out a non apology saying he loves and respects all of humanity but the bible preaches the man belongs with a woman. he joined the gallery, alec baldwin's anti-gay, sarah palin bashing, paula dean's and word 20 years ago but supporters know phil roberts and didn't use any slur or the full term.

he bluntly uttered his religious beliefs which may not be enough to mollify pro gay groups, they are threatening a sponsor boycott. asymmetric spot with the best holiday ads this season, walmart promoting partnerships with the walmart ads with holiday themes that outperform the average holiday spot by 26%. climate change detractors getting vocal shoulder but do the views of global warming critics deserve to be heard? your answers to what is bugging me ahead. (vo) you are a business pro. you can separa runwayridicu. seeker of the sublime. from fason that flies off the shelves. and you...rent from tional.

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dennis: the debate over global warming is an over. here's what you had to say. allen says doesn't sound scientific when scientists don't want folks questioning their conclusions. the only reason you would silence your credit for doubters is when your argument is garbage and cannot sell its of. tim says science without debate is no longer science. it is religious zealotry. finally chris comes back witt with all due respect, journalist's duties to report facts, not host debate to spread misinformation for the sake of debate. let's just squelch out entirely. cheryl: the money the fed is pumping into the economy is a complete mess. steve forbes standing by with a talk for adam and lori. dennis: stocks the dow's 16,172. do not be afraid of the big bad wolf on wall street. bo dietl joins charlie

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webmac i am lori rothman. adam: adam shapiro. the dow was down 6 points but don't let that fool you we are at record highs as the fed says the economy is strong enough to align its massive stimulus. lori: our first guest this afternoon says it is about time. steve forbes on why quantitative easing is a disaster hurting americans biggest job creators. adam: of massive data breach in all of target's 1800 stores. holiday shoppers's credit card number and other data may have been taken. lori: the star would change's plan to aggressively court a new

type of luxury traveler. adam: the wolf of wall street needs at traction. jordan belfort expected to be a christmas blockbuster. this hour you will hear from the man who saved his life. talks to bo dietl who has a walk on role in the film. lori: that will be lively. let's get things started as you do every 15 minutes, go to the floor of the exchange to see what has caught nicole petallides's attention. nicole: that is the attention grabbing line overall. yesterday we made record highs, all time highs in the dow ended sunday, notable highs and yet today we are not giving those back. sometimes you see a swing to the upside and the adjustment on the other way but not so. and basically flat today which