tv Markets Now FOX Business December 26, 2013 11:00am-1:01pm EST
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arles: to your point, they enough.rust the fiscal policy he is there. connell mcshane. connell: we will continue here with more confusion at only on this show, but with obamacare. just because you signed up does not mean you will be covered. this is the deadline, extended again, again. complaints pour again after ups and fedex to not get online purchases delivered in time. imagine that. if you are not in the stock market, you may want to rethink it, at least for today. december 26 is opposed to be the best day of the year for the market historically. drivers in florida got pulled over for speeding in christmas. they did not get a ticket. something a lot better. coming up this hour of "tech "markets now."
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thank you for joining us, everybody. here on "markets now," i am connell mcshane. into the trading session, stocks are extending their holiday run. a lot to talk about, peter schiff will, in a minute. juan williams later on. but we will start with lauren simonetti in the stock market. lauren: 105 million shares trading hands down here, but not only up arrows, but record highs. the nasdaq flying higher as is the s&p 500, if you're keeping track, which we are. counting today's close, 50 record highs counting today's price, 50 record highs for the dow jones industrial average in 2013. we haae not seen a number that big since 1995 when we had 59 record closes.
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december, as you know, is historically one of the best months of the year for the stock market. today is the best day of the month for the stock market. amazon.com. it was up quietly, but this year up 59%. 1 million customers became new prime numbers. connell: thank you very much. today is one of the best days to be in the stock market. 80% of the time on this date back to 1985. chief investment officer, if i had to predict, he said it is stupid, does not mean anything. is that what you would say? >> if the market had a tendency to go up, why fight it?
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connell: of course he doesn't care. every day is a day, take it one at a time. looking at your recent commentary recent topic to talk about, kind of a unique take on it, the federal reserve. the tapering that will occur next year. he said the fed may reverse some of its tapering. first of all, why, and how will that play out? >> first of all the have-nots tapered yet. all they have done is announced an intention to taper in the future. i actually think they ease monetary policy when they announced the taper because they put so much sugar onto côte the medicine, we have an easier monetary policy now. the fed i don't believe will carry out the taper talk. certainly it will not follow through. it will reverse course and ultimately be buying a lot more mortgages and treasuries each month than it is doing right now.
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without the support of the fed, long-term interest rates are headed a lot higher, our economy is too broke to afford it. the highest rate we can afford is zero at this point i and the market is to figure this out. we have a phony recovery, a bubble. connell: going from the $85 billion per month down to 75, you say we will go back above and top that 85, not a lot of people think that, but up 100 billion or something like that again, which would be big news, right? >> the member were already doing 95 billion per month, nobody talks about all of the interest the fed reinvests and the principle it rolls over because the fed has $4 trillion balance sheet, the balance sheet gets bigger and as interest rates rise, income on the portfolio gets bigger so now they have more treasuries and mortgages they end up dying.
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the big story will be the tapering out of the emerging economies. i think china really wants to back down on the treasury purchases, maybe even start unwinding, shrinking its balance sheet. if they are selling treasuries, investors are selling, who is going to buy? the only one left are the feds. connell: we started the focus on this last week with all of the issues surrounding the cash crunch and central bank into their own economy. a lot of worries of china. how will that apply to what we're talking about here in the united states, if at all? >> welcome i still think very much bigger problem. the chinese are likely to see appreciation of their currency in 2014. that'll be a good thing for chinese wage earners. they can get a better deal on the things they need to buy. it will not play out so well over here because the chinese currency becomes more valuable, their goods become more
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expensive and americans already have a hard time buying stuff. look at a christmas sales, the worst since 2009. they believe the hype like the investors and the economists. they loaded up with inventory coming into christmas season. that is why we had a four handle on the gdp. they are finding out a lot of americans don't have any money to buy stuff, they'r their speno much on energy, food, a lot of debt and lousy jobs and so we will see some record breaking sales following christmas and the new year. connell: i want to point out for the record this is a more peter schiff interview. this is the holiday season, no screaming and yelling, going back and forth. i want to wrap up by asking you about maybe a positive place to put your money. assuming you will be right and
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it is a bubble that will burst at some point, what is the best asset class, gold, or is there something else? >> look, i am not a bearish on stocks, i am bearish on the u.s. dollar, bearish on paper, people just assume i am all gloom and doom, so the stock market is going down. if the fed to the right thing for the economy and less interest rates go up, the stock market would come crashing down, but don't believe the fed will do the right thing. thethey'll keep doing the wrong thing. this bubble is too big to pop, the fed knows it, so they will on supplying it. the dollar will go down a lot more in real terms. if you really want to invest in the stock market, look around the world. there are much better opportunities in foreign stocks emerging-market. that has not been the place to be in 2013, but probably will be the place to be in 2014 and going forward. connell: peter, happy new year, we will talk to you soon. thank you. >> happy new year to you too.
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connell: is a fair press reporting an al qaeda group and syria is targeting united nation workers kidnapped. along with a photograph. there it is. the leader of the target in the u.n. joining us now with more on that. thank you for coming in. with this gentleman, who is that and how important is that person? >> he is a vicious terrorist in his 30s, very secretive about what he does. the al qaeda leader in iraq that killed soldiers and a lot of iraqis. hh is very vicious, massacres people left and right. the commencement 6-7000 al qaeda fighters alone. al qaeda forces are even greater than that specific group. connell: to get a photograph of somebody like this in the intelligence world, how important is that? >> there are tons were looking
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for this. you have to know what he looks like. the odds are that we are going to find him as either by intercepting communications or just somebody being out somewhere and saying that looks like him. connell: that is not his real name, by the way. does that matter? >> that is to be expected. it is important to get his face out there. reason he can get the photograph and this information is because of the iraqis were interrogating other officers. and they were be warning looking to kidnap u.s. workers. connell: let me ask a general question about al qaeda and his organization now as we move into 2014. iraq is not great. that is certainly send more enforcements in, but how would you characterize how al qaeda is organized now post usama bin laden?
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>> what you could call the central headquarters in pakistan and part of afghanistan is really weak now. so the regional affiliates are attracting recruits, so al qaeda operations in syria, for example, there are about 2000 europeans who have traveled to syria nor to fight on the side of the rebels. connell: do they all operate independent of one another? syria and iraq and so forth? or is the organization centrally controlled in some form? >> there is some level of central control. they still communicate and share supplies. logistically assist one another. typically the act unto themselves, but ofte oftentimest gets discredited. connell: bottom-line al qaeda is still getting weaker? as it is a pretty good job of fighting this war on terrorism? >> i think al qaeda is getting stronger.
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connell: at some point there was a turne turn to getting back st. >> that is right. syria and other battlegrounds are giving them an to radicalize people. afghanistan in the 1980s, that is the equivalent of syria today. for the next generation, w we're goinggto be dealing with those that have been radicalized. the conflict in syria. and tomorrow, and we would still be feeling this for years to come. connell: that is a good summary on your part may be something people have not thought about. thank you for coming in, and we will continue to talk about it obviously. this million-dollar's home in australia we're going to talk about in just a moment' is on te market but the thing is you cannot buy it with any regular currency. they will tell you what we mean coming up. the cab driver in vegas discovered hundreds of thousands of dollars in the back of the cab. what he did with the money, that became a story.
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and coming up, up to a year off of which some people actually doing now, can advance your career. "markets now" continues now, the day after christmas the markets are open, the dow is up. we're going to take a look at oil and be right back. moving closer to $100 per barrel. [ male announcer 'tis the season of more.
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♪ ♪ because during the holidays, keeping your identity prected means keeping your family protected. connell: so, to come back on "markets now" i want to tell you about this great cab driver we have in vegas. the stock is stinking up the joint again. lauren: this is one of the few stocks that are down today. down about 2% if you're keeping track. this is the news on blackberry, the cofounder, one of the cofounders of blackberry dropping a joint bid to buy blackberry outright, cutting his stake in blackberry. the company is really struggling so that loses its share, only
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loser the past couple of months down about 4.5%. connell: a real estate story, house for sale in australia lakefront five bedrooms, a pool, central air, even a pizza oven in the thing. priced at $1.3 million. the catch is the owner only want to be paid in bitcoin. something of a growing trend. a man in new york is that he would only accept bitcoin as currency for his home. this is the new way may be of buying, bitcoin. talk about getting lucky in las vegas. discovers a round paper bag with $300,000 in the backseat of his car in a brown paper bag. so what does he do? he told the car company he works for about the money and they're able to find a poker player who accidentally abandoned the cash.
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the driver was named cabby of the year. we still don't know what the lucky poker player did in terms of getting his cash back. we don't know that part of the story. 300 grand in the back of a cab and the guy was very honest, good for him. christmas no more and no love lost between ups and fedex customers left empty-handed after the online purchases did not make it in time for the holiday. it must have been a disaster around some christmas dinner tables last night complaining the packages did not get there. elizabeth macdonald bottom-line fallout on that. and coca-cola turning into hybrid electric vehicles. details on that i had too much more. "markets now" continues. the dollar is down a little bit against europe. this is the quicksilver cash back card from capital one.
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connell: christmas is coming late for millions of people who are depending on ups and fedex to get there on time because they say bad weather and overwhelming volume had them delayed some deliveries. the in time for christmas now has been broken, and at stake for fedex and ups could be their reputation. elizabeth macdonald is here. liz: this works for you, you did not buy the gift she can just blame it on fedex or ups. here is the thing, we have nearly a dozen states where people saw shipments delayed, the presence did not come in time for christmas. yesterdahistory and ice storm i. the christmas shopping season is going on since the summertime. here is the bottom line, we have
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seen an increase in online traffic, internet transactions up 9% from thanksgiving and christmas. was it due to more online shopping, more shipments going out the door? anyone coming in saying their team did perform admirably. let's put this statement up from the fedex bid 235 lien packages they delivered between thanksgiving and christmas, 300,000 members did outstanding service during this time despite the heavy volume, ups saying volume exceeded capacity as demand was much greater than forecast. are you going to see refunds? amazon out-of-the-box same we will give it $20 gift certificate and maybe some refunds. connell: people have to trust
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amazon. overnight delivery, it will get there. liz: especially if they make a vile. and the prime amazon members who pay $79 per year to get overnight delivery. one interesting thing that came out, if you did your shopping online after a certain date, after december 11 may not have gotten her packages delivered on time. in the future do you do your shopping earlier? connell: you should have it by saturday. update now on target theft. this story keeps on getting worse. target is now denying a report customers pin numbers are also compromised. but as a precautionary measure, jpmorgan chase bank and resided to limit atm withdrawals unaffected customers.
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people shopping between november 27 and december 15 at target have been affected by all of this. on the light trading day up by $0.71. coca-cola going green. converting chevy express service vans to hybrid vehicles. part of the mission to reduce a quarter of the carbon footprint by the year 2020. they will decrease amount of carbon emissions they say 4000-ton over 10 years with the traditional trucks. plan using 16 refrigerated vehicles in san francisco and deliver their drinks. coke today, stock price up for you. a lot of stocks are higher today. the best day of the year to be in the market traditionally. the deadline to sign up for obamacare is excited again had they keep doing this.
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you still can be covered by the first of the year. and forget a one week vacation. about a full year? take a big chunk of time off actually will help you in your career. that is straight ahead. "markets now" continues today, a full day, the day after christmas on the stock market. i look at some of the winners on the s&p 500. ♪ [ le announcer ] they are a glowing example what it means to the best.
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connell: everybody is sitting at home, is that juan williams? yes, it is juan williams. more confusion over obamacare, but it could be good news for those wanting to get covered by january 1.to get pulled over for speeding yesterday in florida. we will tell you what happened. and take a very extended vacation from work. how a sabbatical like that can help your career. the day after christmas. a couple of tech stocks this time? lauren: ttch stocks hitting new highs. twitter, $73.60. just a couple of weeks ago the twitter ipo at the new york stock exchange, w we're covering that for you, in the 34 trading sessions, that is it since it
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became a public company gaining almost 200%. this is surely a winner. yahoo! down half a percent, but hit a new 52-week high at 41.05 earlier in the session. if you look at the performance, up 10%, and of course for the year, more than doubling. dr. you. connell: even if you did not enroll yet for obamacare through the exchanges, you could so get covered by the first of the year. you thought the deadline monday, but play along with us. very latest on this. officials trying to commit to buying health insurance and the benefits on january 1, administration had originally said they had to sign up by november 15. they passed a '23rd and those who had at least logged onto the website had until the end of christmas eve.
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eddie administration seminar allowing shoppers to enroll still and possibly have coverage on new year's day. as you may have her into concerns with our system that prevented you from finishing the process on time, this happened to you, you still may be able to get you covered as soon as january. one person says they need this to begin working better. >> on initial health care, democrats have truly failed at expressing the benefits of the program. if this continues, it will be troubled for them. connell: coverage begins january 1. the website was having trouble sending the information to insurance companies to make sure that they were covered. connell: thanks.
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live in the d.c. bureau. juan williams, fox news contributor joining us in the studio. merry christmas. we appreciate that. all of these delays first of all, the idea of the extended and extended to make sure they get people signed up. is that a good thing at the end of it? >> they're trying to compensate for the fact they lost so many people who thought they might have at least been able to draw into that two months when the website was a total collapse. connell: now must figure let's get as many people here, why lock anybody out. it will be tough to get everything written up in time. >> are you actually insured? had insurance and discovered no, insurance company hadn't
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properly receive the information, therefore i am not registered, cannot go to the doctor. but the point of all these delays the administration, every accommodation for people, especially people who during the holiday season young people, healthy young people have been encouraged the parents sign up with health care, not so invincible after all. connell: those of the people they need to sign-up. >> no, there is not. connell: you cannot make the case things are going to go well for the rest of the obama administration. i think everybody agrees, the health care rollout was a disaster. number of other missteps, but from here on out is there a case for somebody like you suppose
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the president says here' here iy things are going to go well. get hit from all angles, what could turn it around? >> you look at wall street, you look at the economy, people think the economy is set for a breakout. and that is the case, that is the number one issue for americans, jobs and the economy. connell: jobs and how much you make it your job. wages have not gone up. >> the second part of that equation, you've seen it here with all the blog ceo election, democratic politics. republicans have not anything in terms of employment, republicans aren't doing anything to help the middle class and grow it, they labeled republicans as the servants of the rich. that is possible. an economic development in the second year of the second term.
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connell: how they will try to set themselves up because the stock market, talking about allt all the time, 16,400, we're off to the races record after record. >> could help if the economy goes forward. it is backed the idea of building confidence. as you know, the big lost the present in terms of his approval rating has been on confidence and trust. connell: said one thing and did another in health care. >> if he is able to be the steward of an economy urging people to have more confidence, spend money, hire people in the job market, the president will benefit. many insurance companies set their premiums for the coming
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year, they will say bloody murder, what is with this guy. connell: thank you, good to see you in new york. i know you are here in for bill o'reilly. >> i will be on o'reilly. connell: christmas day may be the only day you get rewarded for speeding. central florida police officersr spreading christmas cheer by handing out a speeding ticket lottery ticket to people who pulled over for going too fast. they delivered 30,000 scratch off tickets along with warnings to people violating different types of traffic laws and the best part was the officers bought the tickets with their own money we are told. one officer said they got mostly surprised looks from those they stopped. merry christmas. everybody, take a year off from
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>> we have a fox business brief for you now. investments fell last week. applications dropping by 42,000 to 338,000, largest decrease since november 2012. sprint looking to acquire t-mobile. valued $20 billion treating the second largest mobile carrier in the world by revenue. coming months after softbank acquired sprint for 21 billion. sony and panasonic with the development adventure a mac venture to make big ultrathin televisions. the challenges of bringing the next-generation tvs a mass-market, panasonic working on oled, organic light emitting diode televisions. work and that the past year and a half. that is the latest from the fox business network, giving you the power to prosper.
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connell: how about taking six months or even a full year off from work. our next guests not only says you should, but her group says will help you do it and be a pretty good idea. co-author of the book "reboot your life" joining us now from santa fe. a lot of people would say i would love to do that, but i can't take a year off from work. if i take a week or two off, can't afford to pay the bills anymore. that is an obvious place to start getting people don't have a financial capability to do that. how do they get there? >> good question. one of the problems we have in the united states. we take less vacations than other countries and we work harder or longer hours than others. many people are afraid to take time off because they feel it will affect their career. but it is not true. interviewed 500 people that have
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taken corporate sabbaticals, time off from work, giving yourself the gift of time. about half of them went back to their corporation, half went on to new positions, new careers, new jobs and all of them felt it was the best thing they had ever done. connell: i understand that, i can see that. gaining perspective are trying something different to never thought you would be into. all that makes sense. but what if you literally cannot afford it? are there ways to make yourself more flexible? people who say i love to, but i just can't. >> absolutely. ppople tend to take time off in the 20s, 30s, when they're theye in their 40s or 50s because they need to renew. five different ways you can find us. create the sabbatical account. instead of getting those he got yesterday for christmas, you ask
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people to put money in your sabbatical account. the second way is to work when you're off sabbatical. i took a sabbatical for the month to asia, was supported during the lectures. there are many fellowships and others you can get some money towards taking time off we had the third is to borrow from the ira and your savings to write a note to pay yourself back. the fourth, this is what many companies are doing, 21 of the 100 best companies to work will pay for your time off. might be two months, might be three months. they have one of the longest running programs, they pay for two months of sabbatical and allow you to take another month and vacation time. so there are many ways.
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connell: when the lottery or get an inheritance. they want to take some time off. speaking of coming back, you're talking about that earlier. sabbaticals often connected with education. what do companies like that again from allowing the workers to take these sabbaticals? why did they do it? >> first of all it is to attract and retain talent. they find many people, especially the millennial's are interested in having this time off. intel found they had a broader and deeper workforce because the people who would take over the sabbatical for two months, their team or their division wouldd% take over a skill set people have. it also creates loyalty to the
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company, that is one of the issues today is howdy retain or keep the really good talent you have. what is interesting is creativity and innovation. the people we interviewed, and interviewed 50 corporations, they also people came back with a renewed interest, new ideas, innovation, creativity. it is a way to dip into that. connell: i am sure some companies cannot afford to lose our best people for even that short amount of time. abb benefits longer term out. thank you for coming on. appreciate it. >> thank you. connell: santa fe group out of santa fe. we have the jobless claims figures we already talked about, the yield on the 10-year pushed up to 3%, first time we've seen that happen since september.
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managing director joins us from the exchange where he and lauren simonetti are there. 3%, big trouble for the stock market rally, do you agree or no? >> 3% is still historically low. have a lot more room to go before we press inflation panic button and see the people running for the exit. a lot of this is anticipated a slow upward tick in interest rates, the 10-year will have no impact long-term on the market. if we see huge jumps, there's probably a pause for concern but we don't have this equity rally with what we're seeing right now. connell: thank you a lot. most offices tend to be all but deserted during the holidays, but coming to a complete stop,
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the car plants. detroit typically shuts down the plant through new year's day, but this year some plants will get an extended) we will explain why and why it could be some good news for investors. jeff flock in chicago, tell us about it. >> one of the reasons is they get christmas off. some plants with your particular gm and ford will get extra time off, and i tell you, it like a bad idea because it means less production but after that be a good thing because you don't want them to overproduce and do big discounts. a look at kansas where they make the chevy malibu and the buick lacrosse. those are some cars that have a lot of extra inventory right now, so gm will give extended vacation january 12 so they don't overproduce. 148 days of inventory on hand,
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so that is way too much. ford doing this for their plant as well. it doesn't put them in a position of having to have all that extra stuff on hand. some people think this is great for the stock, the government is now out, a lot of positive upside for the stock right now at gm. up 13 points year to date, 45% since the launch of the stock. ford up 18% year to date, and the marble and ford stock was about a dollar and a half? if you held onto it you made 567% over the course of the past five years, some pretty good news. next hour we will talk about what specific model has been overproduced and chrysler has
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added some shifts over the holidays. pretty good news for them in a lot of ways. connell: thank you, sir. more in the next hour of that. we will shift to the weather, but across the northeast now leaving thousands without power. michigan took a hard hit as well. some stories coming up in just a moment. it's not the "jugg a bunch of rotating categories" card. it's not the "sign up for rewards each quarter" card. it's the no-mes, no-mesng-'round, no-earning-limit-having, do-i-look-like-i'm-joking, turbo-boosting, heavyweight-champion- of-the-world cash back ca. thiss the quicksilver cash back card from capital one. unlimited 1.5% cash back on every purchase, everywhere, every single day. now tell me, what's in your wallet?
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laura angle hit report on that. >> the aftereffects have lingered on for days. so many are still struggling to stay warm and safe. 27 people lost their lives as a result of the wicked weather. most dying from carbon monoxide poisoning while using generators or barbecued is to create heat. 17 deaths in the u.s. and 10 in canada. that is what we have reported so far. many injuries as well. in vermont department of health says a half-dozen reports of people being sickened by carbon monoxide poisoning in one day com,but with the state usually s in an entire winter. icy roads have turned into skating rinks adding to the winter mayhem. 73-year-old woman died when she ran a stop light because of the ice storm. downed trees and snap limbs the biggest problems facing crews. /michigan domain to get the
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juices backfilling. >> this a special storm because of the season, it means a little bit more. it is called, it is christmas. >> spokesperson for the central manpower tells fox this morning they have 123,000 customers storm earlier this week and thee first christmas in memory that had to cancel vacations and call everyone in to restore power. at one point utilities reported 105,000 customers without power and canada had more than 101,000. and more snow is forecast today for maine and michigan. temperatures is needed to keep ice from melting off of the power lines and tree branches which creates new risks are more outages. connell: still to come, fewer americans filing for unemployment last week than expected. over a million of those people will be losing those benefits
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this saturday. cheryl casone will be joined with that. and helping the wounded veterans to recover. coming up in the next hour of "markets now." r ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] th parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools iroducthemselves. all the bits and lbs keep themselves stocked. and the doors even handle the cckout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy.
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pop in the drum of any machine... ♪ ...to wash any size load. it dissolves in any temperature, even cold. tideod pop in. stand out. >> i have been calling since wednesday of last week to get the status. >> 99% of thing that arise in two days there was one item for myself that didn't arrive yet. >> how do you tell a 6-yeaa-old she is not going to get her present for christmas? cheryl: out against that is as thousands of presence felt to make it under the seat treatise christmas. i am cheryl casone, kicking it to the next hour of markets now
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and ups and fedex scrambling to deliver a late christmas gifts across the country. the latest details on the delivery delays and why these companies were not prepared. fewer americans filing for unemployment than expected but over a million will lose their benefits this saturday. last-minute rush to sign up for obamacare and causes more delays. some americans who enrolled this week may not be covered. that and more in the next hour of markets now. i know you have been working the phones and your sources but big problems for ups and fedex. adam: yes that problem but they are trying to get packages delivered. an updated statement on where they stand we will hear from her in the hour. that is the story today, the top
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of the hour, we are trading again. lauren simonetti on the floor of the stock exchange. investors still feeling the christmas spirit. nicole: no holiday hangover from all the eggnog and champagne, record territory once again. 16431 is the level on the dow and the nasdaq and s&p are up and keeping track, the best year for the s&p since 1997. i know volume is low. that does make it more volatile, the vix is down and it is down substantially. you got to remember the day after christmas, dec. 20 fifth is traditionally and historically the best of the year going back to 1945, the investment group says the market is up 79% of the time. if you believe in this stuff than yesterday was a good day. looking at number 6 record high consecutive be for the dow
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industrials. cheryl: we will see you 14 minutes from now. few americans filing for unemployment benefits than expected coming in at 338,000, much lower than the 345,000 expected but this comes as over a million people will lose benefits. adam: lot of difficulty for a lot of people. for more insight into what this means for the jobs market we will bring tom gimbel from sound networking chicago to join us. what kind of impact could this have going forward not only for the million plus people who are going to get hit but for the economy as a whole? >> what the million people who are going to get hit you will see they end up having to take jobs below what they were making before but there are jobs for them to take. our staffing in chicago we have seen people over the past 12 months that have turned down jobs because either they didn't want to ruin their unemployment benefits or the money was the
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exact same amount as unemployment and the belief why should i take that job? lot more people are forced to take lower-level jobs, at the end that will help the economy. cheryl: what do you make of the data we got today? continuing claims separate from the federal issue and the deadline we will hit on the twentieth but continuing claims up by 46002.92 million at this level right now. shouldn't it be much lower at this point in the job recovery cycle in your opinion? >> i come from a contrarian view and when i look at it the job recovery isn't an overall basis. the government cannot create the jobs corporations do. companies are making record profits, the stock market is up. a won't higher widespread belief just because unemployment is at a certain level. they realize they can make money doing things the right way from a fiscal, the way you run a business perspective but just because the government says something or the stock market is up doesn't mean they will extend
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jobs in mass to all these people so we got to give it time and let the market shake out a little bit from what the public perceives as the recovery and what means tree, wall street, let the corporations decide when they need to hire people. adam: let me ask about the canceling of extended benefits for 1 million people. is it a good idea? there was a study the should people do delay getting a job but the reason is the job they get paid less than the one they left. >> maybe they weren't worth what they were getting before. it is easy to say when someone gets downsize or let go they were worth what they were making before but maybe what the market is saying is they weren't actually worth it which is why they got let go. taking the job for less money isn't necessarily unfair or not right. it is leva market sets. the free market has said they are not worth what they were making before and have to get back in the game. cheryl: the service sector will
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be the main growth driver when it comes to jobs in 2014. adam's discussion with you those are lower paying jobs and that is unfortunate and the bureau of labor statistics saying basically 2.9 of workers for every one job that is out there. do you think those same statistics will continue in 2014? >> it will be similar on that path. what we're talking to, if washington d.c. is talking to the american population about the unemployment rate and how to lower the rate and get more people off of unemployment aside from expiring benefits you got to be talking to the individual and not the masses. that is not what politicians do. every single unemployed americans only needs one job. the job for them. they need to focus on what the need to do for them instead of being brought down by their 7% unemployment or 7.54338000 people that file for unemployment.
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each person needs to get that job, get back in the game and having unemployment benefits expire is what the program is supposed to do. unemployment isn't supposed to be a long-term situation. it is supposed to be to help people carry them over the hump and what we have seen in the staffing and recruiting business is people starting to rely on unemployment in lieu of taking another job and that is where the disconnected. adam: what are statistics out of states with strict parental for unemployment benefit was? do we have data that could be used to show this is the right course of action? >> i haven't necessarily book that the statistics by state-by-state but what i can tell you is the unemployment -- the right word is not being taken away but expiring and een those two things and becomes what people are entitled to versus what they have earned and we all pay employers and employees paid the unemployment insurance trust so we got to make sure these things are not supposed to go on forever and if you can earn the equivalent money doing a different job why wouldn't somebody want to do
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that? cheryl: great to see you. thank you for your perspective on the data and happy holidays. christmas coming late for millions of people who are depending on ups and fedex, bad weather and overwhelming volume blade for delayed delivery, in time for christmas, that has been broken, more at stake than elated package. the shipping companies, liz macdonald has the bottom line on this. adam shapiro the guy next to me getting a statement from ubs. all ups personnel are making deliveries and pickups today. some packages late for christmas, all of them will be delivered today, we apologize. liz: the volume of the actor packages that came through the ups system overwhelmed its capacity and they did deploy extra workers, they are working rapidly to get those packages delivered. we also have comments from fed
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ex that essentially they are seeing the same problem, they call it isolated problems. they did see heavy volume through the system and continue to work directly with customers to serve them and address isolated incidents. amazon now with the statement that they did process customer orders on time but now that amazon is reviewing the performance of the carrier. cheryl: one of the things is the volume and this is a good thing for the retail sector. the volume was much more than they forecast and expected. once they get over this period appears from problem will be a long-term bonus for someone like ups. liz: basically fedex is saying we had 275 million shipments between thanksgiving and christmas, now it is up 9% during that time so i tell you something. this is a real turning point. we always knew online was the
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trend, people shopping online. when you see and overwhelming ups capacity you got to save yourself more people will be shopping online but the carriers have to pick up on the this end of that cell amazon hooking up with the united postal service. that is another thing too. cheryl: adam talking to ups and get an updated statement. adam: ups is at a 52 week high. look at the market impact of holiday deliveries and we bring in donald brownton, chief market strategist at avondale partners. these delivery delays we are talking about when you look at the big picture, hundreds of millions of parcel delivered by john and shipping companies, painful and upsetting, these small delays are going to be a minor issue for the company going forward.
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correct? >> absolutely. if you look at the underlying base of capital infrastructure these companies invested being overwhelmed, they may lose money on a few of those packages they have to give back the delivery feet, vast preponderance -- eased because of stock out. we just don't have any more tickle me elmo dolls and that is not the case anymore. last time i heard about stockouts was in 2004-2005. huawei adam: the black eye for the companies, ups hitting a 52 week high, fedex hit highs for the year. the shipping companies will only be getting bigger as everything moves towards the internet. is that correct? >> exactly right. this is a massive land rush for
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fedex and ups and undoubtedly the future is very bright. ups guys talking about stumbling, stabbing their toe a bit, fedex had any failures are taught to their management team a couple minutes ago and they said 99% execution on the ground hadn't really experienced any significant issues with express, so they may have suffered fewer issues, fewer problems but the bottom line is this indicates what is going on overall in the economy, very good for the consumer and overall what is going on for ecommerce. adam: what we witnessed in this is the competition isn't necessarily to give you the cheapest price but that service because prices are so low especially with amazon. their margins are so slim. if it is about service amazon is painting a picture at its delivery firms but at the end of the day will that come back to hunt amazon if they think i paid
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$75 for amazon prime but didn't get it when i thought i was going to get it? >> you could have customers say that but that is unrealistic. it is fairly clearly stated in most of the websites that if you don't order by a certain point in time you can't expect it delivered and most people understand that. obviously it doesn't mean there will be unreasonable customers but unreasonable customers aren't necessarily always right. adam: ups, a massive facility, 2300 take offs and landings every day during peak weeks, they average 1900 during an average day. is this something that have to address? there was much more business than they fought, not necessarily a flop with their system but they got hit over the head by amazon dumping packages. >> i don't think it is the floor with their system. we don't know definitively if it was.
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there is speculation that had systems issues, speculation that may be labor, may be slow watch, that is she speculation. the real story is ecommerce is a bulging, booming trend and the biggest beneficiaries are ups and fedex and what they need to do is bring in a consultant, the original get everything delivered in one night stand that suggesting a larger sleigh. may yet be the s&p index and that is it. the reason customers are today -- the only game in town. >> you have regional delivery firms, a three or four state area and fulfillment centers for amazon that the utilizing those in ups has to respond to amazon.
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cheryl: interesting. ups hitting a 52 week high, john casone, my brother, very upset about it. people, to be spending more than expected this holiday season. we will tell you how you can make money with retailers as well. adam: plan's best friend helping wounded that tree cover. the director of k-9s for warriors coming up but take a look at our energy is doing today. ♪
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your eye on the financials and consumer staples as well. this is a group that is trading mixed but overall the sector to watch will be financials and the banks because mastercard helping us, spending is higher from the date and they are getting, word for mastercard monday. looks like these will be winning stocks going into the next year, banks, credit card companies, everyone associated with shopping except ups and fedex. on the floor of the stock exchange lauren simonetti standing by, twitter hitting a new high today. another new high. >> i will so you three chart. let's start with the interday chart for twitter, new high $74.73, pushing $75 after just about 200% it has been trading down at the stock exchange as a public company so what a winner.
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analysts have a very upbeat outlook for mobile and tv advertising revenue. twitter stock this week, 20% this week alone, it gets even better. in december, december is a great month for stocks historically but a 78% industry alone, this is a winner -- adam: twitter at $7,400 all over the media this year but not the most talked-about company. google tops the list of most mentioneds by the press in 2014. according to dow jones the tech giant had 24,000 mentioned this year with the highest number of shout outs in the month of may. apple took number 2 with 120,000 mentions. dow jones showed the company's most talked-about this year are the big names out there. microsoft, bank of america and
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boeing. cheryl: moving and moving out. we will tell you what's the most new presidents in america are choosing to relocate to and what people are running from. adam: some americans who enrolled this week may not be covered. details coming up next. here's how the world parrot terror currencies are faring against the u.s. dollar. this is the quicksilver cash back card from capil one. it's not the "limit the cash i earnvery month" card. it's not the "i only earn decent rewards at the gas station" card. it's the no-games, no-signing up, everyday-rewarding, kung-fu-fighting, silver-lightning-in-a-bottle, bringing-home-the-bacon cash bk card.
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have coverage come january 1st. the deadline has changed after tuesday night's cut off, the obama administration announcing those who ran into technical problems with the web site can get covered by new year's day. for more on all of this and someone who might be able to explain it we bring in the senior director of exchange technology, thank you for joining us. what is going on? at the end of the day, what does any of this mean? is it going to work? >> the deadlines are a reality of the technical problems that occurred with healthcare.gov. the first weeks in october. the administration is trying to make up for that delayed time period where people were expecting to enroll. we were not expectingga lot of enrollment in october, we were shopping but didn't have the
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opportunity to do that so we are seeing this rolling extension of accommodate the consumers who were not able to enroll or window shot in october and who weren't able to successfully enroll in november as well. >> march was one of the deadline. they wanted 7 million people to have purchased insurance through the exchanges and what was the figure to enroll in medicaid and where will we be come march? >> cbo estimates their target was 7 million people enrolling in commercial subsidized health plans and the exchanges by march and right now we have hit a target of 1 million total number of individuals whose elected a plan at the state base exchange levelland healthcare.gov so you could make the argument that by
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march you would have about 4 or 5 million people enrolled but the real number is the number of people who paid for a health plan. we don't know what that number is. that is the key number. until you purchase a plan you don't own a product. adam: the administration was hoping by march 7 million people actually purchasing, for get and roll, buying health care. it is looking like we will have a million by the first of the year and maybe 3 to 4 million purchasing by march but not 7 million. doesn't that create a problem going forward to you can't fund this without 7 million buying health insurance. >> correct. the more folks you have in the overall pool, the better for balance the risks if you will. the real number that is the concern for the administration
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is the number of individuals, healthy individuals between 18 and 34 that will enroll and anecdotally we are seeing 25% of that total enrollment coming from the healthy individuals. when the target needs to be around 40% and to your point come march we have 4 or 5 million but only 20 to 25% of those individuals are the young and healthy that could be a concern. diane: adam: whether it is 4 million by march doctors may not accept the insurance they come to the office with. >> there has been a concern for the last several weeks since october 1st about errors with the enrollment applications coming from healthcare.gov or missing applications and the insurance companies are scrambling to fix those problems but when you receive tens of thousands of applications per day it is difficult to address
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all of those errors and you can't fix an error with the missing application so you have a growing concern that january 1st in individual who thought they had enrolled, find out january 1st that there is no coverage because the insurance carrier -- adam: doctors may not accept the coverage because it doesn't have reimbursement rates they could get otherwise. >> there is some concern about that but most of the plans being offered on the exchanges have held the network adequacies so most providers will be accepting reimbursements from those plans but the biggest concern for consumers is those applications that never made it to the carrier because of technical errors that occurred prior to december. adam: have a healthy new year, meant so much, thank you very much. adam: did you spend a lot this
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holiday? cheryl: this is for us coming up. you spend a lot on gifts this holiday season, we did. we will get some tips with how you can make money after the retail stock. it looks like we are big winners this time around. adam: automakers setting down assembly lines for an unusual period of time, why this is good news for an investor coming up. look at today's s&p winners and losers as we go to commercial break.
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try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. adam: man's best friend fulfilling their role when it comes to take care of their war veterans. and extended shutdown for, good news for an investor. why drone in san francisco helping to get people in the holiday spirit. lots of drones. in 15 minutes left head to the floor of the stock exchange lauren simonetti. >> the bright spot this holiday season for retail sales is going to be gift cards. i want to show you our producer, a gift cards, look at that.
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can you imagine? so many people -- you get a gift cards for christmas and look at some of the stocks that moving on this news. stock hit a new high $220. is in mastercard. black hawk network, you might not have heard of it as the company but you experienced their services, a process most gift cards out there. this stock is down 1-3/4%. and 1/2%, thursday before christmas last year starbucks sold 1500 gift cards per minute so we will see if they did something like that. >> i should have invested in red bull because you wouldn't believe, thank you. cheryl: thanks for adding me on national tv. my red bull is 20 minutes away. time for the fox business stock
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radar, ceo of gerber, saki joining me. on your radar today you watch in the big holiday winners. pulling up the chart and showing up one year to our viewers, take a look at this one. a little bottle over the last year up 10% we had a winner on apple but what about next year? >> next year will be better than last year. what they have, a whole new product line that looks great. when you go into the apple store it is always crazy. one of the busiest stores in the mall but on top of that their products are better than all of their competitors and are more expensive but let's be real, the pad is amazing and the new iphone is great and the computers, nobody -- cheryl: competing with best buy. the same products you gatt at
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apples or you can get at best buy, strange relationship between the two but i want to show the two stocks together. best buy over the last year, stock is up 47% over the last year. >> best buy was bankrupt year ago. they are talking from of a low number, they are in serious trouble and have done a great job turning the company around. they have a ton of apple products in peripherals at best buy so they are not direct competitors in a lot of ways. gerri: you like this one. game stop up year-to-date 103%, game stop. a big piece of it for last month with all the new gaming consul's that came out? >> it has been showing its growth all year but the industry has not done anything new in 7 or 8 years and the consuls are great, x box 1 is phenomenal. i really think that the sales have ignited with the new titles that are really good, solid
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titles but i am looking forward to the next 12 months as they roll out more machines, very hard to get so game stop will continue to see good sales for quite some time until the demand is reached. gerri: you like disney but this is a travel place. stock is up 48% year over year. you like it for next year, the consumer is coming back, the entertainment side of the business that you like at disney right now? >> i like all the sides of the business, a love the company, they are consumer products doing great, everybody has to have a disney toys but their business is combined, they have theme parks which are and must do thing when you have children and people come from all over the world to the theme park but you have a hotel in hawaii that has done very well and the cruise lines that doing well, disney is
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a great play on consumer products, entertainment and travel and travel has been a popular gift this year. cheryl: this goes in tandem with disney, i want to show the two and get your take on these. entertainment, a don: scientist end, the price of the ticket is no. of $20 but lion's gate is an interesting story. upper momentum in the first six months, talk to me about lion's gate again. >> look at the future of entertainment, everybody is fighting for content and there are very few pure content creators in hollywood anymore and lion's gate is one of the few and they send off acquisitions and everything. the leadership that lion's gate is good and they have a great business model but the bottom line is producing high-quality content and have great
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franchises to propel them the next several years that paying more for content and what netflix will pay for shows especially tv shows today is much higher than we have seen, competition for content is great for business. cheryl: orange is a new black. they are -- thank you very much. appreciate it. it is another resource. >> i am a dunkin donuts guy. i need my sugar rush too. most office tend to be pretty empty during the christmas season and listen to the tumbleweed blowing through the hallways here but car plans come to a complete stop. detroit shuts its auto plants to three new year's day but some plants would get an extended close. to explain why and how the shutdown can be good news for investors is jeff flock live from the bureau in warm sunny chicago. jeff: we should be autoworkers, we would get the week off.
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we start with news that is contrary to that. one automakers working over the holidays. take a look at the assembly plant in toledo, and ohio with a make a new jeep cherokee, new model, they are adding ships today, tomorrow as well as monday and tuesday next week, they can't make it fast enough. at the same time other automakers are idling their plants because essentially they made too many cars. look at this, the cheri chevy camaro, buick lacrosse, they have too many of those, 167 sit day supply, lacrosse 148 day supply and the regal, 99 day supply. what they have done is that is bad news but they should plants worldwide that make those vehicles specifically the fairfax assembly plant in kansas where they make the lacrosse, the regal and camaro made a
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plant in canada shedding those down too. they are willing to shut plants down to the demand out there. look at why seeking al fatah, the website made gm of momentum stock for 2014. the government is out of this stock so there is no south side pressure is there. hedge funds are talking about this. if you book at the internet a lot of people talking a lot. economy is strong which speaks well for auto sales, it does tremendously well in china better than any of its competitors and the latest numbers, exceed their sales and gm sales but they still a lot of cars more than they do here. final item, and a leadership under control, gm has clear leadership. dan actress and will be leaving the fifteenth of january, and
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alan malawi, the company line will continue to be ford's ceo but if he is not a candidate for the microsoft job and not going to take it why wouldn't the company say listen, i am clear. nobody has said that yet. good year coming for gm, they could useeit. >> 2013 will end good one. thank you very much. january 1st can't come fast enough for people looking to smoke a joint legally and colorado and the state is hoping to accommodate. preparing for the historic moment coming up. cheryl: making people feel good in other ways. man's best friend helping our wounded veterans recover. the director of the 9 for
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breach at target uncompromising personal identification numbers. the bank is concerned seat of the will be able to crack the encryption code with the consumer bank account. bp failed to persuade a federal judge business seeking to recover money from the 2010 gulf of mexico oil spill should provide proof their losses were caused by the disaster. bp will live gets early interpretation, certain businesses could be presumed to have suffered harm if their losses reflect certain patterns. japan's offering to acquire t mobile through sprint, the deal would be $20 billion. that is the latest from the fox business network giving you the power to prosper. any machine... ♪ ...to wash any size load. it dissolves in any temperature, evecold. tideod pop in. stand out.
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extending record lows. >> 90 points, dow industrials, sixth record high and a row. and close above the tuesday record closing high looking really good. the nasdaq, the s&p 500, looking at the transports also at a record high, we have oil, gold, ten year treasury pushing closer and closer to 3%. that will be the story of 2014, how the market deals with the entire rate. looking at the dow industrials, 10 of the stocks that new highs today. adam: two stocks that hit 52 week highs, ups, $104 a share, delivery problems, the world's largest parcel delivery service but twitter, $70.03. you want to weigh in on why either of these companies is
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performing so well today? >> one reason the are performing well, stocks are performing well because volume is low. people like the momentum of the company. analysts say we will see revenue for tv and mobile coming in strong, one of the reasons twitter is up so much, very interesting, more problems with people ordering their christmas gift kind of late and ups systems not being able to handle that volume but this volume broke out to a new high despite that. >> talk about analysts with twitter. i will stay clear of ups because we will talk about them throughout the day. with twitter if they don't deliver their first earnings report, people are buying right now going to get burned? >> interesting question. twitter, we like the model, a popular company, it is not a profitable company and that is a difference.
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there will be a point where twitter stock will get to level where it is not justifying its ability to make a profit. that first report is king. adam: pull out the stock, but. twitter will hopefully prove us wrong and the remarkable company on to something even better. >> that is what facebook did. thanks. cheryl: time for your west coast minute. one nba player turned businessman is making a big bet on las vegas. jackie robinson, that is his name, the basketball player, not the baseball player who played for chicago and seattle 1978-1982 wants to build a $1.3 billion sports are remaned hotel on the las vegas strip. the project will begin in 2014, having at 20,000 feet stadium with retractable roof and several luxury boxes. colorado has issued its first licenses for businesses gearing
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up to sell legalize marijuana. officials that the marijuana enforcement division spent 348 approval letters to various stores and production facilities. 136 of those approvals are for marijuana shops, most of those located in denver. oregon is number one when it comes to attracting new presidents. a study found 63% of moves were in bound into war again but on the other end of the study new jersey, 63% of interstate moves were southbound. residents were leaving. new york, illinois and connecticut shed high rates of losses and that is the west coast minute. adam: two states in the nation where recreational use will be legal. a misdemeanor in new york, you can get fined for buying the big gulp, worse than if you get caught buying marijuana
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illegally. cheryl: depends what state you want to llve in or travel to. all these colorado's ski resorts are on the tourism issue. adam: all kinds of funds will be made. thank you. i will stop before i get into trouble. i need the day job. there is that a backlash against the use of ground in the united states but if they ran into this drone critics may feel more and more arrests. we will tell you more after the break. cheryl: look at winners on the nasdaq. look at these markets ending the year on huge notes and has led one of the big names, we will be right back. this is the quicksilver cash back card from capital one. it's not the "fumbling around with rotating tegories" card. it's not the etting blindsided by limits" card. it's the no-game-playing, no-earning-limit-having,
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cheryl: talk about getting lucky in las vegas a cabdriver discovered a brown paper bags loaded with $300,000 in the back seat of his car so what did he do? told his card company about the money and they found a poker player who abandoned the cash. the driver was named can be of the year, and it remains to be seen, the lucky poker player will reward the caddy for his honesty? >> he should. that poker player was in colorado gambling. with 2013 a good year or bad year for americans it turned out most people think it was no better than last year. the associated press poll 14,000 people, 46% of americans saying this was the same as last year.
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and 20% of americans reported they were worse off last year, and 40% of people under the age of 30 calling 2013 a better year than 2012. we hope 2014 is better for everyone. cheryl: looks like to good has taken a page from jeff besos's book. nobody would blame you if you thought you spotted a prototype for one of amazon's drone delivery services and that is what you are looking at on your television screen accept this unmanned aerial vehicle at another mission to spread holiday cheer. this was the missile so drone created by the self-styled happiness instigator. the mistletoe drone descended on unsuspecting couple in san francisco's busiest shopping square causing confusion in holiday romance because what if you are walking with your friend, not your significant
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other? let viewers know, we have some satellite issues but we will get them back. a great story we are telling you about. a group out of florida that brings veterans -- we will be here for another hour. talk about that. cheryl: i love you texas family, great to see you. it was awesome. some good kicking at the casone house. adam: talking about the chinese economy, chinese food. you have a guest ahead on how to market your house, the fastest-growing group of foreign buyers. cheryl: an electric car shocker. before you buy you need to stick around for a story that may cause you to plug the purchase. a lot more coming up in the next hour of markets now.
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[ male announcer ] lease the 2014 glk350 i've got a job to do today. i've got a job to do today. have a good first day at work, mom! your donations to goodwill fund job-training programs right in your community. feels good to start fresh, right? sure does. narrator: and like that, you're a job creator. adam: welcome back to "markets now." cheryl: santa rally. research firm says traditionally the best day in stocks. but we will talk about it. adam: the package delivery business so good fedex and ups cannot keep up from disappointing many people because the gifts failed to
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arrive on time. elizabeth macdonald has latest in what happened. cheryl: strata had a agent on how to market your home to the fastest growing group of foreign buyers come into this country. adam: may want to stick around for store that will cause you to think again before you make the electric car purchase. first, stocks hitting record highs. lauren simonetti watching it a all, and we are near the highs of the day, or are we pass them? lauren: good afternoon. we are just smooth sailing now six days in a row. we have not seen a long since march. volume of course is very light. there are two answers everyone's stock declining, so the market is very positive. report initial
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