dagen: you are one man i don't want to go grocery shopping with. i am going in and getting out, if there's a discount or a coupon, i cannot care less. you on the other hand would be all over it.ifu great to see you, as always. only 74,000 jobs created in this country last month, that is the lowest number we have seen in three years. the target breach even bigger. 70 million customers had their personal information stolen. e-mail addresses, even the ad phone numbers. separate from the 40 million we already knew about were compromised. how the company plans to bring watson to the american public. and hard on the eyes, the string being caused by smart phones or tablets you are staring at all day long. all that and so much more, connell mcshane is here on

this hour of "markets now." connell: governor christie wrapping up a news conference, so we are ready to go on "markets now." dagen: you were treating last night. connell: people staring at these devices. we will talk that in a minute. now to the market first of all before we get through any of that, nicole petallides, good morning. nicole: good morning, connell and taken. we started off with a very tough job this morning, less than anticipated coupled with participation rate, the challenges of 1977. the economy is not as good as

people thought it was. the dow is in the negative territory right now. 16,014. the nasdaq higher slightly. most of the names have down arrows, some squeezing out some gains. take a look at intercepts, pharma up 300%. on a liver disease drug, tacking on further gains. back to you. dagen: the jobs report last month was terrible. people were expected the fewest number we have seen in less than three years. the unemployment rate did fall to lowest since october, 2008. that is because about 350,000

people who dropped out of workforce for whatever reason. keeping the labor participation rate at levels not seen since the late 1970s. what make of this putting money to work on the market. director of research, you had to be surprised by this, the weakness in it. >> yeah, it was unbelievably bad jobs report. i think these are some of the same people that cannot roll out website from health care plan, there is just no way the actual jobs number is this bad. the adp number was over 200,000, the gdp number was stronger. they made some kind of mistake in the seasonal adjustment. dagen: do you expect these numbers continue to be about in the 200,000 range. it should be higher if the economy was growing faster.

>> we expect the number to be te north of 200,000, we expect this number to be revised up. the government announces a number that it announces revisions to pass numbers did next month i bet you will see it revised up a lot. the one thing it does potentially is it affects the fed. when you get a bad jobs number like this, people are nervous of what impact it will have on the fed. dagen: would you be more nervous earning stocks or u.s. treasuries at this point? >> treasuries, no doubt about it. the bond market was down about 2%. it lost money last year compared to the s&p eing up 25%. we think most of the pain is behind us, but the 10-year treasury will go from about 3% up to about 4%, you will lose another seven, 8% on bonds over the next couple of years.

dagen: given the record-breaking run in stocks, is there any industry you can still find some reasonably priced stocks? >> much harder, much harder. the year ago all kinds of great opportunities pounding the tables on financials. would still say value tech. not saying twitter or facebook, but names like ibm, western union. even microsoft, and the other pockets of financial services, some of the larger banks, jpmorgan trading nine times earnings and energy, exxon, chesapeake energy stocks are still pretty cheap. dagen: great to see you as always, have a great weekend, come back soon. connell: lets get to this target story now. the personal data theft at the stores is worse than what was dagen: these numbers are breathtaking. 70 million custooers had their personal information compromised at the breach target stores over

the holidays. these are people who had their names and addresses, phone numbers and e-mails stolen in the attack. separate from the previously disclosed 40 million credit and debit card numbers compromised. offering one year credit monitoring for all guests who shop in the stores. connell: the company is making a $1 billion bet on artificial intelligence. these numbers from ibm, a new unit completely around supercomputing systems watson. after more than doubled the number of people they have dedicated to this. just ask the ceo, helping deliver $10 billion in annual revenue. joining us on all things technology many times.

what about first of all the projection for watson in terms of monetizing it, which has been a challenge. we will talk about the great things watson can do, what about the projection from ibm? >> if they can't get it to work properly and expanded to other markets, it is overstated. the major jump in computing capability, something we haven't seen before. ibm is the only company taking this kind of risk with artificial intelligence. the fact it worked, and i understand although i cannot get details suggest and they really do have something here, and if that is the case, it is well understated for was this thing could actually produce. connell: for the title used in the book going back to the "jeopardy" days, this is almost

human-esque. what are you most concerned about for the future? >> will change every industry, in our lives. we have to reorganize the way we work with knowledge. part of the challenge is trying to sell the machine. it will change the work of how we all deal with information because it will provide answers in all these areas. i say the only other company that has the wherewithal to have a project like this would be google, and google is coming at artificial intelligence by different angle, they're looking at the consumer. ibm's looking at companies. the risk for ibm as i see it is

a company like google will put together a package of these technologies that can offer a big part of what watson delivers at a fraction of the cost or even for free. connell: a lot of this is a technology question, but the other part of it is, we talk about this all the time, a big data discussion, we will have much more information whether it is provided by watson or somebody else. that's real data based on somebody's feelings or some ceo coming up with a gut feeling or an instinct or what have you. have we even got into a point tip of the iceberg on that yet, and how much do you think watson can be a part of that revolution or change? >> it could be at the core of it. something that is really important, the behavior is relatively hard to change. we are structured so that people who seem to be right, the controlling composition for the

ones most dominant and have the highest status, a lot of those people are threatened by something like watson, giving information to folks who are below them in class, so the regular person can be smarter than the ceo. folks who have that power are often threatened by taking ensuring that power it gives more at lower levels. it may actually block access for the fear younger doctor could show them up. this is a behavior we have to get around if you want to get the full power and benefit of something like wasabi at connell: anybody who is a spokesperson knows that already. they didn't really want new information that was a better analysis of what they were

provided with their own eyes. that will happen in all businesses, i would think. go back to the medical industry. people identify with that because you see your doctor, he says here is the diagnosis after i have looked it over, i have a feeling i have seen my experience in the past and this is what you have. will ibm be able to monetize it to change that whole experience for people? or make it available to more people, and how far away are we from that? >> we will see dramatic changes as far as that. with people misunderstand about watson is they think it gives answers, sometimes it gives ludicrous answers. if you look at watson as a machine that reads a vast amount of information and can provide may be a list of hypotheses, each one with its own confidence in that hypotheses, it is up to the human to figure out which one makes sense.

watson is a tool, not a brilliant person. connell: is almost like siri. if you ask a dumb question, you will get a dumb answer. >> we will be laughing at the way we deal with information now in five or 10 years from now. connell: some people concerned about privacy. is that legit, or with all these new technologies coming out, is that something you would just write off? >> what the allegations, it is very clear all the information is being captured. the government has massive amounts of information on us, but some of that information is very useful if we could get access to it. they have access to information that could prescribe or could identify a sickness that we don't have yet, could identify a threat to us that we don't know about. the information used for our benefit so we could identify

that threat, that problem to better protect ourselves. i see it leveling the playing field broadly, getting everybody more access, it is actually us using the information to our benefit. connell: we will see, as long as they cannot host tv shows, we are good enough to go. at 1:00 p.m. on markets now. dagen: the big concern for your eyesight and the time you spend on your smartphone or your tablet. i will explain later. connell: lawmakers have gone o off, how many will bring seven-figure salaries straight ahead? dagen: or on new jersey,

governor chris christie attempt to quiet this controversy when it means for the race for the white house in 2015. take a look at the oil market. except it has nothing to with new jersey. [ male announcer ] this is the story of the little room

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dagen: what? connell: rolling right along on "markets now." dagen: you looked cranky. connell: what would lead to that? what are you doing? intoxicated or something. nicole is here to talk retail. take it away. nicole: let's take it away. we have a tough day for retailers looking to the downside, analysts have been onboard downgrading these names. sears down 14%, so sears has come out and basically showed weakness in the latest quarter. their comp sales are not good.

kmart under their umbrella. 5-below to the downside. another one to watch. up about 150% over the last 52 weeks, so that is a good one, but customer traffic week. blaming the weather as well. back to you. dagen: thank you, nicole. blurred vision after looking at your smart phone or computer for too long or tablet. 70% of americans report levels of digital eyestrain with symptoms including dry eyes, fatigue and even neck and shoulder pain. the strain is caused by intent staring at screens for long areas of time. they recommend blinking more often or taking a break from using your phone or tablet. something that could and should be taken seriously, could lead to longer term problems including degeneration and cataracts according to the vision council and trade group.

my eyes don't focus as quickly as they used to. connell: focus on me, will you? because i am the one on the camera. majority of congressional leaders, 258 of them to be exact, average net worth over a million dollars. the democrats higher than the republicans in that category. talisman darrell issa, chairman of the house and house oversight committee, takes the top spot as the richest member of congress in 2012, a big career in business before politics. $464 million, the analysis taking a look at the investments. it reveals general electric, the top holding congressional members overall last year. this is all from the center for responsive politics, these particular politics numbers. dagen: darrell issa, that is all

self-made. the pressure is on for new jersey governor chris christie. why his possible 2016 white house bid could be caught in a jam. connell: one company turning homemade goods into big business. the ceo of a company called etsy coming up on "markets now." keep it here. so ally bank really has no hidden fees on savings accounts? that's right, no hidd fees. it's st that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true.

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>> just about 24 minutes past the hour. india asking the u.s. to withdraw a diplomat from the u.s. embassy in new delhi. this in retaliation to the indictment of an indian diplom diplomat. charge with visa fraud and lying about how much she was paying her new york city housekeeper. she is now back in her native country. rescuers calling off their search off the virginia coast. five crew members were aboard the chopper. two people died and two others hospitalized. they scoured an area of the 500 miles for 30 hours. the cause of the crash is still under investigation. hundreds of thousands of people

in nine of the state's counties feeling the effects of a chemical spill in the water supply. chemicals spilled into the elk river in charleston yesterday. back now to dagen and connell. is your family affected by this? dagen: no. not at all. thank you, good to see you. let's make some money. december jobs report coming up side is treasury's rally, the yield going down, that is certainly the news. charles: i like a lot of them. it has a pretty broad base, like some of the geographic regions, pretty good home appreciation. the orphans, ignored space. because the limited fed would

taper, home sales building up, back was building up, would actually like to see them go sideways a little bit the people don't feel like i missed a move. i like the risk-reward for homebuilders. connell: the market overall who we are, whatever it is, what do you think of where we are after today's job report and the 10-year note? charles: i've seen a shift over the last several months and now, good news the market was up, bad news it was woefully. i always thought the greatest threat was the u.s. economy, not the global economy, but the u.s. economy. we have made it in spite of ourselves, quite frankly.

it is not a panic situation, we are due for a pullback or a correction. people would be wise to be continued to be invested in the market. dagen: he said there were lots of money managers short treasury, you could see a short covering rally and the yield falls and the prices go up? in the beginning of the week. hello. howdy. charles: see you later be at connell: this is booming. one company coming up. showing up, new york city, etsy is the company. dagen: nfl team searching for new coaches should talk to our guest coming up before they look any further. [ telephone rings ] [ shirley ] edward jones.

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connell: back here on "markets now," good news for a couple of tech stocks. microsoft and linkedin. nicole rejoined us with the latest. nicole: microsoft and linked in that analyst upgrades, helping them along bucking the trend of what we are seeing. there is a nice one year chart for you. you did have barclays and microsoft today. and nice pop in microsoft. securities keep in a buy rating also, and watching that as well. best i been a recent 20% pullbak in this stock, the buying

opportunity. linkedin, let's see what it's doing right now. another one to watch closely. dagen: thank you so much, nicole. chris christie doing his almighty best yesterday to put out that fire over the intentional closure of lanes leading into the george washington bridge for political comeback. for the "good behavior." to paraphrase a quote in the "wall street journal," any new information is his biggest enemy. barring that, do you think he is in the clear based on his performance yesterday? could he still run for the white house? >> he took a real problem, when he found out about it, he held

people accountable and he took responsibility himself, took responsibility as a leader. he said he was apologized. we have had an irs problem, nobody really has been held accountable and nobody apologized, we had fast and furious, we had been ghazi. he has the ability to be a leader holding people accountable and high expectations. no chris christie staffers doing what the other staffers did going forward. chris christie has had a clear, strong message for the high expectations for the people who work for him. dagen: what does it say about his judgment?

people who were very close to him, former campaign manager and deputy chief of staff that assuming he did not know as he stated, they were operating in this way, and yet so loyal and close to him, it does raise questions about who is he surrounding himself with? >> there should be a separation between those were part of a political campaign and those who are helping to govern. new jersey has had a long history of people who campaign campaigned. we saw good republican leadership in new jersey before, and we're seeing it from chris christie. good, strong leadership and overcome the burdens of stupid campaign moves and when campaign moves are part of the party aspect of running a state government, that is not good, chris christie said stop it, he won't put up with it holding people accountable, it reflects

a judgment on bringing people into the circle as governing and they were part of the campaign, maybe. he has a right tools to do a good job in new jersey and probably would be a good candidate for president. i'm a huge jed bush fan, for example. it was a crisis, it was stupid politics and chris christie called it like it was holding people accountable. >> clearly this has been a bruise to chris christie, but i think his reaction to it over the long run will demonstrate he will hold people accountable for their actions, good or bad.

i think that is a good thing. we haven't seen a lot of political figures will stand up and hold people accountable for things that went wrong. things will go wrong all the time. dagen: have a terrific weekend, we will see you very soon. connell: talk with this company etsy earlier. it really is one of the booming companies in this city and new york city's technology scene. the ceos coming up next with us. dagen: let's talk some football. the global sports practice works at a consultancy, he will talk about hiring. how do you pick a head coach?

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sandra: good morning, i'm sandra smith with your fox business brief. facebook in a controversial ad program called sponsore sponsors that anger advocates. a facebook user likes a product or restaurant, could be used in advertisements help to the facebook newsfeed. also inventories increase in november, but at a much slower rate. the biggest increase gain. china's growth increased. exports increased 4.3% in december from a year ago. china's imports jumped 8.3% last month. that is the latest from the fox business network giving you the power to prosper. [ female announcer ] who are we? we are thinkers.

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connell: one of the biggest players in new york city, online marketplace for handmade goods. this company etsy with 30 million members, 20 million items now listed for sale. dagen: we are joined by ceo of etsy. we were talking in the break, even in online shopping we have the holidays kept on coming up again and again. how fast year-over-year are you growing in revenue? speak a lot of people visit us on the holidays, particularly around cyber monday, thanksgiving, the sales grew 60% year-over-year. this is our ninth year. connell: i was looking at some of those profitable companies, what was the key to doing that? everybody things when they hear

online marketplace, they think of a different company. it is etsy instead of ebay. what was the key to making it work for you? >> there was a desire to buy unique things from people around the world directly from people. there is a real fatigue with real big box retail and buying the same things. etsy has a huge variety of merchandise from nature to clothing to house where. just about anything you need to make your home beautiful, workspace beautiful and really unique is found at etsy. dagen: advantage as well. it is like the easiest, beautiful flea market to shop in. hand goods made. how do you continue to grow the listings and the business? are you siphoning business away from ebay? >> we keep growing. we don't think a lot about the competition, but we are growing because on the sellers side,

there are a lot of people out of work who want for stability in their lives, they want to make extra money, so it is inexpensive to get started, costing $0.20 to list an item. there is a real desire for unique items and connection. i would describe it is more the spirit of a farmers market versus a supermarket when you buy something you have a relationship with the seller, that is really unique. connell: there is a new married new york, bill de blasio. after three terms of bloomberg, education and on down to other things, what about bill de blasio? are you bullish? >> i am bullish on the new york tech scene in general. bloomberg did a really good job and built a lot of momentum.

it is still wait and see, but i think the companies in new york have such momentum. he is from brooklyn, and we are in brooklyn. the hometown favorite, so we will see. dagen: why would you base it here? it cost a lot of money to live here, you don't even have land lines in your offices. in part to keep cost down, right? >> a lot of new internet companies operate that way. new york is an amazing place, i came to new york to be with etsy from the bay area. a real intersection of culture and fashion and now tech is a very vibrant place to work. dagen: you have a great idea, you would do it here rather than in the valley? >> the kind of company etsy is,

absolutely. we're still building the company out, we don't sit around everyday talking about exit strategy. we do have venture investors. an ipo could be on the horizon. we are not thinking about it for this year. connell: it could be on the horizon, we will just take that. dagen: thank you so much. etsy. i told him a lot of people use this to support themselves, and he knows this, he is the ceo of the company. people were making goods at home and selling them and that was the way to do it. you get more exposure than a place like ebay where you are one of a horde. information oinformation the kee pipeline still undecided. canada taking matters into his own hands proposing an alternative. connell: with that in mind, let's go to seattle with the

story. what is the canadian plan b? >> the oil producers in canada won't call this pipeline to british colombia a plan b. they are hedging their bet in case it gets rejected. it has been in limbo for years because across the u.s. border, the state department has to approve it and that application was made over five years ago. distill them in for my mental review process, maintain many pipeline to british colombia coast has been developed, reviewed and now approved by canada's energy board, it is now just awaiting final approval by prime minister stephen harper. >> 's oil is going to be produced. the question is, is it going to asia to benefit their people, or will it come to its largest trading partner in this case the united states to benefit our people, to employ americans?

>> this is no small project. inspecting half million barrels per day to tankers that would most likely take it to china. dagen: does this mean the pipeline is obsolete and native? >> no, they say they could another pipeline going east through canada. so much coming out of that region and was expect to triple by 2030, and that has got environmental groups on both sides of the border worried. they are still holding out hope they can block the pipeline. >> many of us see this is a much larger loop and doing something about climate change, trying to be responsible in the world we live in today. >> nasa presently they cannot with a timetable for his decision on the keystone xl pipeline but many believe it could come in 2014. back to you.

dagen: thank you. from the pacific northwest. connell: a number of teams on the market to get a head coach. if you like sports and business like we do, the guy who places many of these coaches with the team. hollholly comes up with that criteria in terms of how people can lead the organization to the top. dagen: how to win, and winners on the nasdaq. [ me announcer ] this is the story of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more.

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dagen: pizza hut selling a million dollars worth of pizza through the xbox 360 up launched back in april. it reached the 1 million milestone in the first four months of active. also added most orders were placed on weekends, 11% of those who ordered were ordering from pizza hut online for the very first time. who would have thought gaming, sitting around for days at a time, ordering some pizza, having some food. there you go we ha. connell: nfl teams searching for new head coach should talk to our next guest. the health teams in the hunt for the next leader we ha. i thought this would be an interesting topic for many of

the people who watch our show like business and like sports. it is kind of the other side of it i don't think we talk about as much. i use the university of texas as an example of how the process works, the school comes to you because it is kind of interesting. you had complaints, think he apologized today, but all worked up over the hiring. they say we would like to see what? and you deliver to them what? >> the process with each opportunity is unique. with the university of texas you had a lot of constituencies to deal with. you had a board that was set up as an advisory group, the athletic director, former winners, and at the beginning of any process, you need an agreement on what you are looking for. so there is an elaborate piece

that goes to allow you to establish what those criteria are. we are looking for an established head football coach, somebody who is demonstrated the ability to win tough games, who has built tough organizations and teams, who could recruit, understands texas and can develop players. you take that and look at a variety of candidates, whether they be in college, national football league, he put that string on them. in the process of determining who is that best person to fit the criteria, and at the end fit the culture. connell: how many candidates do you say university of texas, here we go, here is five or three, how many do come forward and say these will work for you?

>> it is not quite that simple. you take probably 25 people that you discussed and you narrow it down to a select group that you then focus on based on the criteria you have established, and then you go about trying to set up interviews and spending six, seven hours with the candidates, assessing them, them assessing you because it is a combination of evaluation and selling. not only are you trying to evaluate by asking certain questions that relate to how they build programs, how they approach their first 90 days. no different than corporate america. so you want to try to understand that, understand how that person will develop the recruiting system, how they evaluate talent. in the university of texas, do you sit in a geography with great high school football players, so the question becomes not one of recruiting, it is one of the evaluation.

understanding. and you think about these people texas never recruited, so the question becomes how are you going to put a process in place that helps you identify those that are good now and those that have a potential to get better. texas has not had a first-round offense of line pick in 10 years. connell: i'm sorry to cut you off, little bit of delay because of time. andrew luck, some information from him. maybe we will have you on again to talk more, we just focused on texas today. appreciate it, good stuff. >> we had the opportunity to do usc as well, it has been a great opportunity to help organizations figure out a

specific process in how to move forward to select a coach. >thank you very much. dagen: coming up, this is just one of many controversial ads spirit airlines runs. this happens to be about manti te'o and his fake girlfriend. connell: dennis and cheryl straightahead. don't go away. [ male announcer ] once it's ened, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serve current and former miliry members and their families is without equal. begin your legacy. get an au insurance quote. usaa. we know what it means to serve.

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ratko coin. by an addict? no. have i tried it? probably in one of my drunken stupors a year ago. cheryl: toronto mayor rob ford is not afraid of controversy and neither is spirit airlines' but i am cheryl casone with dennis kneale taking you through the

next hour of markets now. from we are not smoking crack, discounts o the toronto area or get mile ideals, and capitalizing on other controversies, a countdown of our favorites, will be here during the area. well below estimates, employers adding 74,000 jobs last month, markets taking all of this in stride. we will be talking about it. san francisco environmentalist group wants to slap global warming warning stickers on gas pumps. a lot more coming up on markets now. what will they think of next in california? >> perfect for california. cheryl: disappointing employment numbers in the month of december dropping to a three year low. peter barnes joining us from washington to break down all of

the numbers. >> non-farm payrolls rose by 74,000 jobs, well below economists' expectations for an increase of 196,000 new jobs in december. the unemployment rate fell unexpectedly to 6.7% when economists expected it to remain unchanged from november at 7%. but the decline last month was due largely to 350,000 people leaving the work force last month. some analysts say the bad weather might have heard job creation. construction jobs fell 16,000. the white house says it is looking for job creation for the whole year, not one month. >> you look at 2013 as a whole and we have data for the whole year, 2.2 million private-sector jobs added, the unemployment rate down 1.2 percentage points. all the broad indications we have that the economy continued

to strengthen. >> the need for congress to extend unemployment benefits once again but john boehner was not convinced. he called the report disappointing saying, quote, the president's policies failing too many americans many of whom this stopped working -- looking forward instead of making it easier to find a job. washington has been more focused on making it less difficult to live without one. cheryl: peter barnes in washington. dennis: job estimates were way off base. let's bring in ward mccarthy of jeffrey's and ward cameron of bankrate.com for the biggest surprise, two levels when we look at these numbers and one is for the nation's economy and one is the markets, let's start with the nation's economy. how bad was this report or how good? >> it wasn't bad. it is difficult to assess because we have the largest number of people who are unable

to work because of bad weather conditions. since 1977. so the data was clearly distorted by the weather and it makes it more difficult to assess it. the payroll data for the excessive number of people who couldn't work because of the whether you would get a number 210-220 range and that is consistent with the recent trends. dennis: let me get mark in if i may. it is a pretty good jobs report but 74,000 is the lowest number in three years and we have a 35 year low and people either working or looking for work. is this a good or bad report. >> the report is that but what is the underlying trend? we have to basically step back from this report and say we still think the job market is largely in damage repair mode and it is reasonable to expect when we get a month out from

this reading we will get some numbers that look better. the key thing along the lines of the numbers you just heard is we saw this report, construction employment fell. we now housing starts are strong so that doesn't make any sense right there. dennis: if the report is all that good wire stocks actually down. >> it is not as good as it is expected to be. when you look inside the data one thing i find encouraging is there was a 55% increase in retail trade employment and that suggests the retail sector was coming along pretty well in december which is the most important month of the year and the point is we are headed in the right direction, lost 8 million private sector jobs, only have to generate another 600,000 to finally replace those and that is an important milestone on the way back to having the normal label market and we will probably do that by april. dennis: we heard jason furman of

the obama folks, 2 million jobs added overall, i believe he means restored. we are still not up to where we were before the recession began in 2009. >> we have a long way to go which is why the fed is taking a lot of this, more than a grain of salt and the labor force participation rate remains abysmal and got to a low level in this report, we want to see wages higher and a lot of repair on those two friends alone. dennis: i am stunned 40% of working age americans don't have jobs and are not looking. does today's report make it easier for the fed to stick with lose money or make it harder? >> tasted with loose money regardless of today's number. the question is do they implement another $10 billion capering at the end of the month? when they look at these numbers the trend continues to be

favorable and continue to implement q e but probably shave another $10 billion offer. dennis: is it a mistake to do that? how did they do this as favorable when 350,000 people stop looking for work in the month? >> the report is whether anything lined up in back of this to suggest these numbers are to be believed in the sense that they would be bad news and if they seem more payroll numbers that come in severely disappointing absolutely they will change and the playbook with ben bernanke, give to janet yellen, would have to be rewritten but i agree i don't think the fed will attach a lot of importance to our report that has as many question marks attached. dennis: both of you are taking the numbers not in a panic, not sure you believe them all that much. let me circle to your point -- >> i am sure i don't believe them. dennis: y? >> because we had the largest

number of people since 1977 who were unable to work because of the weather. that is a major distortion. and the household survey, 350,000 people in the labour force, 473,000 were due to weather. dennis: can you not hear me when i say your name and am trying to break in? i would love it if you would yield a little bit. when the weather stops me from going shopping if i am hungry and my kids need to eat the thought that i would lead the weather stop me from looking too a job and going to interview seems to strain credibility. >> i don't think that is the appropriate interpretation of the data. when you look at the number of people who are not in the labour force according to the bureau of labor statistics only 5% of them want a job. i think maybe you are making too much of that. dennis: what percentage want a job? >> 5% of the people who are

currently out of the labor force indicated they want a job. dennis: let's go ahead and extend those 99 years long-term jobless benefits to encourage people to get more work. >> what is the question? are you saying if we extend unemployment benefits is that going to have a negative economic impact? i don't think so. i think there is as much damage that occurs out there if people are unable to buy food and pay for shelter and rent as if we don't give them that money. dennis: the government multiplier affect. thank you for being with us today. nice job, good weekend. stocks under pressure after the dismal jobs report. nicole petallides at stock exchange. nicole: i hear you when you say my name. let's talk about dow jones industrials down 51 points. jobs report came in, fewer jobs than expected is an

understatement, 40,000 jobs added and that move markets in a big way. back-and-forth action since the year began and today much of the same, dow down 52 points 1/3% and the s&p 500 lower slightly and the nasdaq composite to the downside and most of the names and down arrows like chevron, united healthcare, g e and pfizer under pressure and intel, microsoft and caterpillar holding on to some gains. for the week you can see the nasdaq composite over one week for the year for 2014 so far we had a great 2013 but major averages are lower for this year, and the vix, the fear index right now is to the downside, 1265 so pulling back about 1.5%. we got the latest news on jobs, not that great, a lot of people thought the economy was improving faster or better than it really is. dennis: thanks very much.

cheryl: news alert, 42% of americans on average identify themselves as political independents according to gallup. that is the highest reading since the survey began 25 years ago. at the same time they find themselves as republicans to the lowest level of the same time period. wall street journal editorial board member james freeman, were you surprised by the amount and what does this say to d.c.? >> obviously there is a lot of dissatisfaction with both parties, not a good message for d.c.. president, congress not popular but for voters thinking about making a move the fact that you don't -- a candidate for republican or democratic party doesn't mean all of a sudden politicians become self interested servants of the public. you still have the same motivation, the same pressures. cheryl: the breakdown, looks like when you look at the republican numbers of those that say in their republican is that

a 25 year low as well and that is another kind of warning sign for the gop. >> i think they are looking at recent history and misinterpreting it. they think they have to reinvent themselves and start embracing in many cases more liberal ideas if you will, i would say marco rubio in the last week doing that on reforming benefits programs but the truth is they win when they run on the reagan agenda and a lot of independents are natural republican voters if they make the freedom case. go back to '92, ross perot succeeded in a third-party challenge basically a republican message given that george w. -- george h. w. bush had strayed. cheryl: the think this emboldens or heard of the tea party? i would think tea party members right now, michele bachman, incredibly nervous about this. >> i don't know why you would be nervous if you are in the tea party.

tea party independents, these are all messages that the republican party hasn't -- cheryl: a good thing for the tea party. >> whether it is democrat or republican, these parties shouldn't take their voters for granted, they should allow and win them but i think the message is not that people are moving left, use the republican birdie numbers go down, mitt romney wasn't a big conservative so for republicans the message is the way you win those is by sticking to the message of work, the issue, free-market. cheryl: what does this mean for the midterms? >> not sure there is an impact on the midterms. the issue in the midterms is obamacare, the problems to this point, a premium spikes later in the year, whatever party, it happens to be the democratic party that embrace that and those are especially senate candidates in swing states have to live with their votes. for them whatever people registered as, obamacare is a

problem. cheryl: you need to talk about or not depending on which party. >> that is for sure but they have that. cheryl: republicans have been very quiet. i want to say the wall street journal morning report starts this week. >> morning editorial report, w s j/morning. dennis: what is bugging me? the so-called war on poverty and what a costly wrongheaded failure it has been. tweet me your best idea to help the poor. cheryl: he is not going incognito today. he is here to talk about the company's efforts to capitalize on others's embarrassing moments, counting down ahead of the interview. this one coming in at number 4. ♪

[ cellphones beeping ] ♪ [ cellphone rings ] hello? [ male announcer ] over 12,000 financial advisors. good, good. good over $700 billion dollars in assets under care. let me just put this away. [ male announcer ] how did edward jones get so big? could you teach kids that trick? [ male announcer ] by not acting that way. ok, st quarter... [ male announcer ] it's how edward jones makes sense of investing. ♪ there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.

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cheryl: the jobs report in december the dow is down 33 points. since sectors that are moving because of the crimes report, the home builders, yields falling on treasurys and this is helping the big home building names, everything else in the grain, d. r. horton, the list goes all the way down. watching home builders right now. every 15 minutes let's lord -- the stock exchange. one of the headlines the last few minutes on target. nicole: we have been watching target closely and the truth is what was 40 million people is becoming 70 million people. you may remember the story, this was personal information, data and breach, when debit cards dit cards, pin number is and the investigation has continued. targets working with federal authorities across the country over the holiday season and now returns out more people were affected after the investigation

continues and it goes beyond card numbers, it includes names and addresses and e-mails and the like. we personally know some people who have gotten some new cards but obviously people who have dealt with target over the last few months should be very wary. cheryl: we will see you in a little bit. dennis: what is bugging me is the war on poverty. 50 years ago this week president johnson declared it and this one has gone as well as his war in vietnam. devastating of that in the wall street journal lays out what a waste and failure the war on poverty has been. we spent $20 trillion in 50 years and now that spending is past $900 billion every year. that is more than 100 times what we spent at the start, the war on poverty 84% of federal spending in 1964 now to 16%. and for what?

after $20 trillion we have 20 million more people living in poverty. less than 12% work force in 1972. it is now to 15% or more but guess what? the poverty stats don't include payments to the poor so they have more income than we think. that is one reason the poor are better off than ever before. almost half own their own homes. 75% and their own cars. the third have hdtv flat screens. so it goes. walmart has helped the poor farm or giving the dobbs, sending low-price high-quality goods, there has got to be a better way. tweet me at dennis kneale, the war on poverty has failed. what is your best idea how to lift up the poor? cheryl: new mortgage rules taking effect and protecting consumers. what you need to know about it coming the. dennis: that scandal in colombia revolving prostitutes and the secret service. an embarrassment for the fed. spirit airlines marketing goal.

three favorites. apps we will show you, number 3 with a smirk, the ceo coming up. [ male announcer ] this is the story of the little room

over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪

>> 24 minutes past the hour your fox news minute. indy at asking the u.s. to withdraw a diplomat from the u.s. embassy in new delhi in retaliation to the indictment of an indian diplomat charging her with visa fraud and allegedly lying about how much she was paying her new york city housekeeper. she is back in her native country. rescuers calling off their search for the missing crewmen from the navy helicopter crashed off the virginia coast. five crew members were aboard the chopper, two died and two others were hospitalized. the coast guard scoured an area of 500 square miles from 30 hours. because of the crash is under investigation. and the millionaires' club on capitol hill, the center for responsive politics reporting half of all u.s. congressmen millionaires, a historic first. among all the 534 current members of congress at least 268

have an average net worth of $1 million and those are your headlines. back to dennis and cheryl. cheryl: thank you. charles payne seeing huge construction opportunities for the next company, a global play. charles: of huge gigantic play a round world and just to give an example since the last quarter, since october they got a contract in russia for l a n g refinery, a contract in kuwait, one in poland, three in saudi arabia, one in korea for some sort of steam generator, one in argentina, one in vietnam for hydrogen reformer, that is just since october alone. one of these names where the last five years have been taught because of the global recession. we will get significant growth and pent-up demand. obviously might be a few bumps in a row but i like this one a

lot. cheryl: it seems it is a global story. what about china? is an area of interest? middle east. that is what they talk about a lot. the saudi arabian things. the stock market and individual stocks is what drives the growth that makes a difference. we have got $17 trillion economy but they expect to make x amount of money and wall street build that in but where does the gross come from? the dubai airshow basal $190 billion worth of airplanes. a lot of people are sleeping on the growth and amazing economic opportunities out of the middle east. cheryl: thank you. see you later. we have got warning labels on cigarette boxes and bottles of food but san francisco environmentalists want to put one on gas pumps. dennis: we didn't know about that risk unless we saw a label. to the media and everyone

outside toronto mayor rob ford keith -- keeps on giving the spirit airlines turned into a sales pitch in this at number 2 on our list of favorite spirit -- we speak with spirit's ceo coming.

cheryl: coming up in the next hour, forget the january effect, the warning for investors come springtime. spirit airlines looking to capitalize on controversy.

talking about the company's marketing strategy. and when a date with one of america's most eligible bachelors for only $10. stocks now every 15 minutes the at nicole petallides standing by. what do you have? nicole: $10, wow. we're taking a look at some names that have been on the move today. abercrombie and fitch jumping up as they raise the earnings outlook. coca-cola and other food makers have been on a real calorie count diet since 2010 announcement cut over 6 trillion calories particularly with households with young children. the nasdaq had a brief outage of options trading in one area. the nasdaq down half a percent, a name that was up yesterday gaining 70% today, on trials of the liver drug.

one more on there, blackberry up $0.17 this week. back to you. cheryl: nicole, thank you. dennis: corn futures going wild after the crop report. with all the headlines, let's go to the trading pit of the cme. phil: does it is always seem the market always most bearish on these reports are the most surprises? corn previously before the report hit a three year low. about $0.15 higher rates now after the report that showed the ending stock sold more than expected, and of course so the world cornstalks actually fall by 2 million metric ton. that was a huge surprise. it was going absolutely crazy, but that was not the only surprise in the report. soybeans, supposed to be a little bit bullish were actually flat. we did not see any surprises on the soybeans that in the market following corn higher.

i'm strong chinese demand. on the sauce market, a big surprise on orange juice. it is really taking its toll on the orange juice crop producing the amount of boxes by 8 million bushels. lots of action in the corn pits. dennis: thank you, phil flynn. cheryl: forget the january effect as i a tapering roller coaster. investors should be gearing up to sell in may and go away. sam, bearish, what is going on? what are you seeing? >> we are getting a little bit of a dark cloud hanging over investor confidence right now. our belief is we are still in a good seasonal time, maybe we end up bouncing off of the low 1800 level on the s&p and going above

1900 before we end up slipping into a correction that could take place sometime this year. when looking at the sell in may, that is what we are in right now, it is the worst of all of these eight semiannual time in the presidential cycle. cheryl: if we did that in 2013, you would miss the games. this would be the same kind of story. rough few months first half of the year, second half of the year will be strong. you are doing the reverse here b.>> i think you are actually right, history is a great guide, what you do basically is he is a let me start with history, see

what history says has a high likelihood of occurring, and you overlay that with economic projections, fundamental forecasts, and the technicals to see what is likely to happen and our belief is we have gone 27 months without a decline of 10% or more, the median time between these corrections has been 12 months, so we are well below the time we should have seen such a decline. cheryl: the fed tapering strategy, we will see what happens after today, but the fed taper will be one issue and midterm elections with me and what happening with the debt ceiling debate. we are hearing chatter in washington and we don't have a strong market for the first two weeks, they really think the next few months will be rough. >> the roughness will start in the second quarter. i think we will get a surprise by congress may will

with the debt ceiling because they realize what happened with their ratings in october when the government shut down, both and the democrats were hammered, so they realize six months or so to go to the midterm elections. i don't want to cause further harm without giving the impression i am working with the other side. cheryl: we got her earnings, kicked things off last night, we will hear from the banks, the market moving and next week should be nothing more. what are you looking for earnings and what are your estimate for the quarter? >> are looking for a 5.8% increase according to the consensus data. that is favorable because we ended up with 5.7% gain last quarter, and typically found the realized number is two to three percentage points above the expected number beginning of the

reporting period if that trend holds true, we could see earnings in the 7% category versus the low 6% we are expecting right now. cheryl: bearish, but we should see. the year is young. dennis: youtube and dreamworks animations coproduce a series of daily shows. the google owned site made its draw billions of users created videos. for you to the the future is a step of marriott video entertainment. for dreamworks animation is a deeper move in the programs for the web. make a kid series for netflix and awesomeness tv in april. here is the case of the audience not getting the message, bankers are going wild over "the wolf of wall street."

the film about the debauchery at deception without any real redemption on wall street. a big bank in sweden rented out a theater for the screening. the film is going to be on site next week. a trailer or a train wreck? if first peek at the new reality show on the troubled misfit youth of lindsay lohan premiering not on bravo, but on oprah in march. cheryl: "the wolf of wall street" popular with traders in europe. my life is really boring. dennis: that is what section is for. cheryl: what a deal, $10 cannot get you much these days, but it might get you a date with a hollywood a-list or be at dennis: spirit airlines ceo here to talk with the delegate ellen's of ads making fun of the news. here's our favorites. add to date. [ male announcer ] once, there was a man

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return on investment isn't the only return i'm looking foard to. and my parachute definitely isn't golden. [ male announcer ] for some, every dollar is earned with sweat, sacrifice, courage, which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as $50. apple did not violate a google patent making the iphone. the decision upholding april international trade commission ruling apple did not infringe on patents and technology owned by unit of google, motorola mobility. facebook thing it will end a

controversial ad story that angered privacy advocates. the users profile picture could be used in the ads send to the newsfeeds. president obama nominating stanley fischer to be vice chairman of the national reserve thplacing janet yellen. former head of the bank of israel and longtime professor at mit. one of his students, ben bernanke. it all comes together. that is the latest from the fox business network, giving you the power to prosper.

dennis: from carlos danger to legal pot, spirit airlines knows a good meme is a terrible thing to waste. spirit airlines ceo joins me now. thank you for being with us, we appreciate it. i want to run through three ads that you ran. look at this one on weiner.

carlos danger, the weiner rises again. and you have another one on the secret service scandal, more bang for the buck. and hot, no smoking sign is off. is your marketing department high? >> our marketing department is brilliant. when we pai pay her a really low ticket price with a topical and hopefully funny kind of had, that makes for a really powerful marketing platform. dennis: how do you metric whether it is working, what numbers you can site? >> we know our normal sales figures ever know what happens after we run sales, so we measure the metrics very carefully. we have an active e-mail list of 7 million people, and we have over 7 million visitors to our website her day.

when you look at the size of our airline and compare those numbers, those put us up about the top of the industry. a lot of people looking for this kind of thing, they like the ads. some get maybe they are too controversial, but people talk about them. we don't have to spend a lot of money to produce these. the savings by not doing traditional media is passed on to the consumer in terms of a really low ticket price. dennis: they don't run in highly paid newspapers and magazines? are they going viral on your website or what? >> we do not run them on tv, radio or newspapers or magazines, we put them on our own website and we e-mail them to all of our e-mail list subscribers and nearly 7 million that number is growing every day. when people get them, they forward them on to friends and family because they think they are funny or believe these guys did this time. we have even seen some blogs,

some people will say we're just waiting for them to run an ad on this. dennis: is it from you, your internal marketing department or from your outside ad shop, and who is that? >> most of it comes from internal, we stay in tuned with people in the nation are talking about, we try to be topical with these things. we try to upgrade the graphics and such, but most are homegrown. dennis: have you ever gone too far and have you ever rejected any offered ads? >> we certainly think about it. we try to belly up to the line, if you will. we use the scooby doo test, if you watched scooby doo as a kid, you know there were a lot of double entendre's in that show.

even pot smoking, the good times van, scooby doo be due, ate a lot of munchies. that is a good idea. dennis: it is not enough to be funny, but is a funny link to controversy. is it making it work? >> sometimes that is it. the politician or sports figure messes up and that is publicly known, we try to take advantage of that, hopefully make it kind of a funny ad. we run ads when he was accused of selling former senator obama's seat, we ran a sale say we have been accused of running seats also. we try to keep it funny. dennis: thank you for being on today. >> thank you very much. cheryl: the new consumer financial protection bureau mortgage rules take effect today

and analyst predict lenders could tread more cautiously as a result with more mortgages for applicants on the edge of qualifying. rich edson from washington with more on this, more basically bad news for everyone involved in the housing sector. >> these new rules coupled with others for services and disclosure requirements and rising interest rates could further stall the housing market. the obama administration says these are present much-needed improvement help in the economy avoid the mortgage crisis. to gain legal protection from mortgage lenders have to limit their fees to 3% of the loan amount. borrowers have to prove they have enough money to pay the mortgage and the longest term is a 30-year mortgage. the new rules ban minors from selling features like interest rates, interest only loans. these new rules will hit the housing market. >> i think if you look at the regulatory landscape with a qualified mortgage role at the top of that pyramid, you have to

say there's no way poo purchase mortgage volume will fill the gap. it will drop to lows we have not seen in decades. >> they just lose some legal protection. back to you. cheryl: rich, thank you. time for your "west coast minute." the union representing boeing machinists have filed unfair practice charges against the industrial giant. union leaders alleges boeing interfered and intimidated members during the contract vote by threatening to move jobs out of the estate. boeing said if it wasn't settled with concessions, it would likely move production elsewhere. we will keep you posted. there is the stock. a story in today's "wall street journal" points out there is a financial downside to legalizing marijuana. at risk jobs in millions in revenue for law enforcement

agencies due to police no longer being able to seize access, so there's a funding issue. environmentalists in san francisco want to put global warming warning stickers on gas pumps. the bay area chapter says people don't understand cause and effect of climate change, stickers would serve as a constant reminder to drivers the fuel their driving is causing global temperatures to rise. that is your "west coast minute." i don't think gas companies will like that. dennis: after 50 years on the war on poverty, what is your best idea for how to lift up the poor? your responses to what is bugging me ahead. [ telephone rings ] [ shirley ] edwa jones. this is shirley eaking. how may i help you? oh hey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investors...

[ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. ♪ is your tv powered by coal? natural gas? nuclear? or renewables like solar... and wind? let's find out. this is where america's electricity comes from. a diversity of energy sources helps ensure the electricity we need is reliable. take the energy quiz. energy lives here.

dennis: the war on poverty has failed. this is what is hugging me today. hear your ideas on how to lift up the poor. free marke markets the self-dird social security passing on to family after death. job fairs the unemployment office. tim says education, the poor must attend school. and kristi says everything centers around two items, jobs and disposable income, increase in those will lift our waters. cheryl: a dream date with george clooney cost you $10. the actress raffling himself off to benefit the satellite project and his organization devoted to monetizing and highlighting war crimes in sudan. go online and donated $10. you can be his date at the red carpet of his new movie. and you can enter more than once, the more you enter, the

cheaper the price. good deal. for more ri more money even though george clooney is a great guy. disappoint them wall street as economy pays 74,000 jobs last month, slowest pace in three years. first trust advisors, why talk of the jobs recovery may be overblown. cheryl: hockey new jersey devils and basketball philadelphia 76ers hitting a new fan, online gambling. the party poker sponsorship deal, actually a first for u.s. sports. "markets now" will be right back. our own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.

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of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪

cheryl: 74,000 shockingly low

number of jobs added. ashley: the dow trending lower although off session lows following a huge mess on the monthly jobs report, growth slowing sharply last month closing out on a surprisingly weak note. lori: brian west birdie on the jobs report, is will complicate the federal reserve bond bank plan. ashley: growing smaller by the minute, ibm's investments of watson, how it plans to bring artificial intelligence to the american public. lori: the target date of breach much worse than first feared, 70 million customers information was stolen, nearly double the original estimates. ashley: sponsorship gamble. the new jersey devils and philadelphia 76 ears signing a marketing deal with party poker. we will hear from both the e l as on the online gambling partnership which is the first for u.s. support.

lori: let's start with a latest on this disappointing jobs report that set the tone first thing this morning showing the weakest job gains in three years, peter barnes live from d.c. to break down the numbers. phil: non-farm payrolls rising by 70,000 jobs in december well below analyst expectations of an increase of $196,000 and employment rate fell to 6.7%. when economists expected it to remain unchanged at november's 7% but the decline was due largely to 350,000 people leaving the work force last month. that saying the labor force participation rate back down to 62.8%, a 36 year low. some analysts say bad weather hurt job creation. construction jobs fell by 16,000. other sectors losing jobs included performing arts down