tv Markets Now FOX Business February 7, 2014 1:00pm-3:01pm EST
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adam: adam shapiro. another disappointing jobs report, 113,000 jobs added in january well below wall street estimates even as the january unemployment rate edges down to the lowest level since october of 2008. lori: a second straight month of job growth signal the future slowdown. adam: a weaker than expected jobs report after a roller-coaster week the s&p 500 on track to snap a three week losing streak. lori: those with master's degrees in business of looking for part-time work but in this case it is by choice. we will introduce you to the men behind our lean nerd, a service that helps companies rent them be as from 30 to $100 an hour. adam: stocks near highs of the day, back to the floor of the stock exchange, nicole petallides there for us and investors shaking off the jobs report. >> they are. markets to the upside to the
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tune of triple digits, 113 points at 735, also the s&p 500 up 3/4% and the tech savvy nasdaq the best of the bunch of 1-1/4%. we have seen all ten sectors with the arrows including financials and technologies and risky areas continue to do well today so really bucking the trend, moving so slightly into positive territory for the week for three major averages. not for the russell, the russell 2,000, look at the vix, the third index, the volatility gauge we watched so closely. there is the fullback and a serious one, 10% today. 1545, a little worried, off the table for now.
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adam: charlie brady asking if we could be setting up for another bull run. thank you. lori: u.s. employers hired fewer workers than expected in january marking the second straight disappointing employment report but there were some sector winners. some analysts expected the weather to have impacted construction. that sector added 48,000 jobs. another big winner, six straight months of gains adding 21,000 jobs in the latest month. last month's big loser was retailer posting a loss of 13,000 jobs, the first month of declines since march. joining us now is chief economist michele gerard. following the report this morning you were at the january report is soft but not disastrous. >> obviously we have seen slower pace of job growth over the last two months than we enjoy in the
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fall and generally greater concern about the economy people have and i don't want people to be extrapolating the weakness we are seeing too far forward. this is not the start of the economy decelerating to a slower pace is more of than offset, better than expected numbers we had seen last fall. if you sit back and look through all the noise the bottom line is trends are very steady and underlying the conditions of the labour market have not changed all that much. lori: is that why the equities market is reacting? the dow is up 100 points or is it because janet yellen, the new fed chair had another jobs report to digest and likely she will hold course? >> getting back to the situation where a bad news is almost good news, the economy isn't breaking out strongly to the upside meaning of the fed could
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continue to provide support and i think to some extent there is that relief, if you will. and we are starting to see nervousness that this won't raise interest rates sooner than expected so this of course suggests no hurry for the fed. if anything they can continue to be very accommodating and to some extent of course that is good news for the equity market and risk assets in general. cheryl: the unemployment rate fell to 6.6% and many analysts say it fell for the right reasons. the labour participation rate actually rose by 0.2% but still down to a 36 year low in terms of participation so put that in context. cheryl: we will see declines in the labor force participation rate. the population is getting older, more and more people are going to be moving to retirement age
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so over in the next several years we will continue to see the rate move down, the participation rate will move lower even if the economy does better. we can focus too much on that. it was good news. we saw the labour force increase. more people were optimistic and looked for work and the only reason unemployment went down was even more people found employment. was for the right reason. it is an encouraging sign. lori: the industry showing strength in hiring with weakness. people were quick to blame the weather for everything going wrong. construction jobs. >> here is the of survey, employment conditions in one month, one week of the month and wouldn't you know the week of the payroll survey through the eighteenth of january was the one week where the weather was pretty good.
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temperatures were above normal. less participation than normal so if there's any week where you were not going to get a weather impact this is and that explains why you saw a rebound, you saw construction employment, i don't think the weather had an impact on the january data for that reason. lori: what is your forecast for the february jobs report? >> i think we will see us getting back to the trend of 150, 180. i don't think the company stopped hiring this dramatically this quickly so i do think we will get back -- the weather in february could be more of an issue that was in january. mother nature will do that this month. lori: stocks going up in price. fox business contributor phil flynn with from price futures group in the trading pit of the
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cme. what is up? >> gaining a lot of momentum particularly on strong demand but what a lot of traders are talking about is the wti trend, gaining quite a bit on wti today. that is a big school. north sea production some people talking about an olympic risk premium. more risk in europe, worries about the olympics that could be it. the entire complex is very strong. we are finding issues in strong markets for oils this week. the other big market is gold. gold after the jobs report looks like a market that wants to break out but can't do it and this report today didn't help them. it was like one of the two handed report. on one hand is very bullish but then we had china after the holiday big buyers in the cash market. back to you. lori: gap among the biggest
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winners in the s&p 500, the retailer posting a 1% jump in same-store sales beating analysts' expectations. gap also issued better than expected fourth quarter earnings guidance. among the few bright spots in the retail sector many of competitors are hurt by heavy discounting in we export traffic over the holiday season. adam: the company buys back more shares, apple has purchased $14 billion of stock in the last two weeks since reporting disappointing quarterly earnings which brings the total buy back to $40 billion over the past year but still a quarter of what activist investor carl icahn has been urging apple to repurchase and shareholder advisory firm egan jones is getting in on this. the companies as apple shareholders should vote against carl icahn's proposal. lori: charles schwab telling fox business 1,000 jobs will be moved out of the city, the company not yet saying where the jobs are headed but it is,
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quote, not looking to reduce the number of employees firm wide. what had of workers in the bay and planning to keep its headquarters in san francisco for now. adam: the emerging market sell-off is not over. we are learning outflows of the emerging market funds so far this year have exceeded the fund outflows for 2013 lisandro smith joins us ith those numbers in today's trade. >> the money and of the a emerging equity, emerging-market investors, the selling is not over yet. this is the cute numbers that caught our attention. we saw $6.3 billion of outflows from the emerging markets, funds according to the latest global data. that was one week of outflows from emerging markets stocks. we are seeing money coming out of there in march quantities,
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$1.8 billion left, emerging-market bond funds. total equity outflows' year to date. totaled $18.6 billion. in all of 2013 they totaled just over $15 billion. and he is not sure they have are selling over yet. he was saying in many interviews that as i flip it over and painted back to you guys we did see overnight trading, lot of emerging-market funds allotted european asian stock markets bounced back a bit. >> with the opening games of the olympics we are hearing about of failed hijack attempt.
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adam: news alert president obama is in michigan today where he is going to sign the bipartisan farm bill into law. the bill expands federal crop insurance and ends direct government paymentss. two farmers whether they produce anything or not. the bulk of $100 billion per year cost is for the food stamp program which helps 1 in 7 americans. and president obama will have lunch with detroit's mayor mike dugan who took office last month. president obama is expected to make remarks next hour. and we will bring it to you live on fox business. webmac reaction to the jobs report, stocks are higher and
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nicole petallides is at her post. we are watching lulu lemon. >> you go where and the like, stocks up 4% at the moment, 12.4% to be precise, and this is positive comments from rbc. rbc basically thinks lulu lemon is a good idea. good companies and that companies need good entry points and lulu lemon has a good point at this point. they believe bad news from 2013 is in a the new year, and management changes, the entry point is compelling. and $56 price target. back to you. lori: lulu lemon is enjoying
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positive gains. and the dow reached a session high. 12:15 eastern, a gain of 16,045. adam: the american workplace is changing employees with high level expertise, returning demand. and how they can cut expenses. alan bean nerd. high-level experts and talent for a fraction of the cost. congratulations, gentlemen, andy essentially you led the nba to bid on projects you put on your web site, correct? >> that is right. the way it works is an online marketplace that connect small, medium and large businesses with high-quality flavor in the form of nbas. the idea that businesses all of the world no matter their size are not pursuing projects they should be or paying too much for
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them. 8 huge pool of labor is ready, willing and able to work on these projects so the market brings the two sides together. lori: let me get you to weigh in on what differentiates your firm from the high end temporary agency. >> part of our platform is folks with experience at the top consulting firms, investment banks and everything in the world, what you are getting is the same labor quality you would get if you hired a mackenzie consulting group, 1-100th the cost and whenever you needed an hour or two. and businesses whether they're large or small is no way to act with the marketplace now. adam: i checked out some of the jobs being offered. a couple of hours, the average price was 1200 to $1,500. what is the level of experience of the people bidding on those jobs? are they people looking for something on the side for mackenzie or people who are just
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coming out of business school? >> a great question. interestingly the nba's experience level on a platform varies widely so we encourage students at the top m.b.a. programs and also people with the industry and functional expertise, 15-20 years that are entrepreneurs themselves or stay at home parents or just looking for supplementary income. people who are less experienced charge a slightly lower hourly rate, then superexperienced people charging a premium and depending on the business and the project they are able to find what they're looking for. lori: talk about the plan going forward. mark cuban is on board as an investor raising 750,000 private investments over the summer. what is the next step to expand and grow? >> first of all, having mark on board is fantastic.
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he is incredibly credible resources for business large aad small and great mentor and adviser for the mmnagement team. the way we will grow, we are generating a ton of cash flow but more importantly the best way to grow is leverage channel partnerships, distribution arrangements. and serve the official consulting arm for their internal reseller channel, 100,000 and all over the country, and we can pursue whether with franchises or small business credit cards or provide software and cost-effective for the capital. adam: send an e-mail to mark cuban and he responded within 15 minutes. what did you say in that e-mail? they look to get acquired at some point by linkedin? >> on the mark cuban point, we did actually, one of our other co-founders actually had the ingenious idea of shooting mark, we heard from others in the
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past, pretty receptive to things like that. it was pretty concise and to the point. here is who we are. the got back to wa within 15 minutes, said i am interested. and from there we were off to the races and ever since, mark has been a huge asset for us. fantastic advice and quite responsive and involved ever since he joined us. >> where we are going now, no doubt somebody will be interested in buying us in the next few years. what is important to wes is a massive opportunity. no doubt the way people work is changing, going after a couple markets that have hundreds of billions of dollars of revenue and all of us have the appetite and desire to run the company for the foreseeable future. adam: we wish you the best, congratulations and continued success. lori: the cutest hourly nerd.
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that works. colorless jackets and strange accent, not quite sure what was coming but we couldn't get enough. adam: celebrating john, paul, george and ringo. james rose and will join us on the fab four, 50 years later. ♪ ♪ [ cellphones beeping ] ♪ [ cellphone rings ] hello? [ le 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? [ ma announcer ] by not acting that way.
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>> 25 minutes past the hour, your fox news minute. developing news out of turkey. reuters reporting special forces in the country had apprehended a would-be hijacker on a grounded plane in istanbul. that flight originated in the ukraine. according to media reports the detained individual wanted to divert the plane to sochi, russia, the site of the winter olympics. more as we get it. tension growing today in bosnia. police using rubber bullets and tear gas on demonstrators in the capital city of sarajevo. protestors and happy with the economic situation in their country, unemployment at 40%. these conflicts are the worst since the end of the bosnian
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war. back here at home vice president joe biden says he can't think of a reason not to run for president in 2016. interviewed the vice president says he will make up his mind by next summer, earning twice before. in 1988, 2008, he was ultimately tapped by senator obama as his running mate. those are your latest headlines in the newsroom. i am jean e. colby, back to lori. lori: gastastic. adam: comment on la guardia being like a third world airport. lori: 50 years ago today at this very minute the beatles stepped off of their pamphlet on to american soil for the first time. the rest is history. to be a mania gripped the country and change the music forever. the president deals historian james rosen joins us from washington, the site of the u.s.
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first concert. >> we all know a lot has changed over the last half century but the beetles that all thes along the way remain the most popular entertainers in america and throughout the world racking up staggering sales on media platform's not even dreamed of when they touched down in new york. when they were landing at jfk airport 50 years ago today they saw the massive crowd on hand and wondered if president lyndon johnson was landing at the same time as the. beagle mania had gripped britain for over a year. no british rock-and-roll singer ever succeeded in the stage, the beadles refused to come here until they had a no. one single ended january of 1964 they scored it with i want to hold your hand considered one of the greatest pop songs ever recorded. today at jfk airport the port authority of new york and new jersey unveil a historic marker inside the flight center to commemorate the historic kickoff to the british invasion be taught the impersonation brand called liverpool was on hand to play some favorite. there were and are many more
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events taking place in various cities. last night there was an all-star tribute show featuring legendary african-american performers like gary bonds, mary wilson and the supremes, the legendary apollo theater. i brought along some of my favorite pieces of beetles from my in same lifelong collector on will share with you now. in the 1970s this is what a beatles bootleg look like. it was a blank cover, it was final and it would have taped on it some photocopies or mimeograph with a striptease title and no actual accounting of what is on the record. it was a real golden age for beatles collectors started tumbling out in great depth and sound board quality. here is a 17 cd box set devoted to the back sessions. it was a groovy, beautiful, gorgeous booklet that comes with
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it. and what is truly more valuable than my paul mccartney album, my wife was not happy when i told her how much i spent for this. this is even better. and the recording label, this is an acetate test pressing of the song called tomorrow never knows, it appeared on the album revolver but this version of its is twice the length of the release one. i checked my other existing copies of this song, outtake sessions and as far as i know right now yours truly is the only person in the world who owns this piece of wax of the beatles performing this song. adam: i am blown away because i
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worked in the washington bureau and never saw your -- how much is that acetate in your hand worth and tell us about your work? when is the coming out? >> i paid $2,500 for this. it was a difficult few moments with my wife, but its value is much greater than that. i have been working my whole life, i named my son is after the beatles but for the past few years, talking about the beatles, paul mccartney for half an hour, i can't tell you when it will be out, my sense need to grow up a bit before working on saturdays but i will get it done. lori: thank you so much for sharing your hobby, your passion, james rosen, great stuff. listen, antiques road show might have been a good investment. adam: that acetate. lori: his wife will be thanking
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him. lori: a rebound rally on wall street, the dow up 116, major averages higher despite weaker than expected jobs report. adam: we will go to wells fargo, scott rant on why he changed more near-term downside in the market and why you should get ready to jump off of the sidelines. lori: $364 million in one quarter could be a good thing. look at the dismal numbers for the u.s. postal service.
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lori: and it's time for stocks now. so let's head to the floor of the new york stock exchange and nicole petallides. nicole, we're just off the highs of the day. >> what a great day on wall street. when we started off the week and kicked it off with a negative 326-point selloff on monday i'm not sure too many people thought
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we would make it back by week's end because there has been uncertainty and concerns about emerging markets. sandra smith has done a great job showing the ow flows there. there has been a lot of concern on wall street and jobs numbers came out and were a little tough but meanwhile we're positive for the week. last fridays the dow jones industrial average closed at 15,698. we're 45 points higher than that. hey, look ad linkedin. to the downside to the tune of 7%. it's a great performer over fifth two weeks. over the last year it was up 08%. they came out with guidance weaker-than-expected. the latest quarter is okay but guidance going forward. that's why you're seeing linkedin to the downside. lori: thanks, nicole. adam: the markets are on track to end the week higher and the dow is on pace to stop a two-week losing streak. wells fargo scott wren says, don't get too many could for thible. we predict as volatile market that could continue for next two months. always great to see you, scott.
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thanks for joining us. >> how are you, adam? adam: i'm terrific. i want to jump into something you're talking about. holding end of year 2014 where s&p 500 to close between 1850 and 1900, correct? if so, why? >> that is correct. our work suggests we'll have a very modest year this year. we set that target back in august. we also set our earnings target which is $113.50s for the s&p back in august. we've been telling our clients, adam, that may be a little bit conservative. i don't think it's a lot conservative but basically investors need to expect a lot less out of the market this year but it is still going to be a decent market. adam: that is still what, 8% increase, wouldn't it? >> from here, yeah. really, you know, if you think about it, we're in a modest growth, modest inflation environment. earnings season we've seen here is a perfect example of that. the labor report we saw this morning is a perfect reflex of
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that. so i don't think those conditions are going to change at all. we still have valuation that is are not stretched in any way, shape or form. so i think the market's going to track up a little bit. probably 14, 15, maybe even 16. so you just can't expect the kind of surge we saw in 2013. adam: we have our own in-house analyst type of guy, charlie brady. he is actually asking a question whether the s&p 500 is indicating we're settings up for another bull run. is that a legitimate question to ask and are we at that point? >> what i would like to think we are in the middle of a cyclical bull market and that cyclical bull market has probably a couple more years to go. that's why we've been talking about, you know, pullbacks. we've been trying to prep our clients, that i don't know when the pullback is going to occur. it has happened later, volatility has been later than what i thought. i thought we would see some in the fall but that wasn't the case. so what we're trying to get our clients to do is leg in here. we want them putting fund slowly
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to work in the market and sighing sicklily sensitive issues. cyclically sensitive issues. we want our clients in here taking advantage of this. adam: very quickly when you talk about subtrend growth, let's look forward not to february or march but to the spring. do you think we'll back to 150,000 on average for job creation? >> last three-year average has been 180, 185,000. i think we'll be near that. i think job growth will pick up a little bit but the job growth is going to be very slow. it is going to be improvement but it will not accelerate much from what we've seen. adam: one of the things our best talked about earlier baby boomers retiring, 10,000 a day. will that have negative effect on the market or should we ignore that as a contributor. >> in reality baby boomers need to keep their fund in the market for longer. they're living longer. they need to figure out how to make their money last.
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one of the best ways will be through the stock market. we keep hearing this labor participation rate. adam: right. >> it is because people are retiring early. ad many today, i don't know about you. i'm a baby boomer. i don't know anyone who is retiring early. everybody i talk to that is my age is saying, gee, how much longer am i going to have to work? >> so that's, that's a bogus argument for the labor participation rate. it is a tough situation. people are dropping out of the labor force but baby boomers will have to keep their money in the market a lot longer than the last generation. adam: as a gen-xer you will have to keep money the market a lot longer. your guidance is always appreciated. >> have a good weekend, guys. adam: you too. lori: there may be some hope for the u.s. postal service. the postal service narrowed its losses in the first quarter ending december as a surge in online shopping and package delivery boosted revenue. the agency which has lost money
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last 19 out of 21 quarters, lost 350 million from october to december. however revenues from package delivery did rise by 14%, mostly because of growth inen line shopping and a deal with amazon to deliver packages on sundays in some u.s. cities. the news comes as postal service continues to struggle with tumbling mail volumes and payments for future retiree health benefits. adam: ready or not, the olympics are officially kicking off in sochi today but is russian security ready for the world stage? former deputy secretary of defense peter brookes joins us next. lori: bouncing back, business for the world's biggest pin ball machine maker. jeff flock is talking to the man that brought the machine back from the brink. ♪ [ indistinct shouting ] ♪
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>> good afternoon, i'm sandra smith with your fox business brief. the justice department closing a probe into samsung electronics. the antitrust investigation focused on samsung's attempts to standard essential patents in the legal battle with rival apple over certain iphone and ipad models. gas prices are set to increase this spring. aaa is warning of peak prices between $3.55, to $3.75 for a
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gallon. the average price today, $3.27. fuel prices traditionally rise in the spring when refineries cut production for seasonal maintenance. bitcoin plunging 30 7% after the digital currency main exchange was halted. tokyo exchange blamed technical problems with a boost in bitcoin withdrawal requests. that is the latest from fox business, giving you the power to prosper.
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municipal bond funds or mutual funds, depending on their contract may be forced to sell some of their assets to raise capital. we'll keep an eye on it for you at fox business. lori: the winter olympics kicking off moments ago. already a security threat. turkish officials say a passenger on a flight tried to hayak jack a plane threatening a bomb and demanded that it fly to sochi, russia. for the very latest we turn to peter brookes, former assistant secretary of defense and senior fellow at the heritage foundation. so wonderful have you here with us. what is your take on the real security threat in sochi? we talked about it for a if you weeks, sometimes we talk and it become as fulfilled prophecy or is this a legitimate threat. >> this is a dangerous, deadly, terrorist group in a very dangerous neighborhood. i think the chances as we move on beyond the opening ceremonies, the chances for terrorist attack or attempted
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terrorist attack will increase the further you get away from the olympic stadium i think higher the danger is. so the russians really have their handful. adam: with this, having their hands full, does anyone have any indication whether the people are in position to might bring about some kind of bad event? >> well i think if they did, adam, they probably would have apprehended them. as you remember, they were looking for a number of black widows. these are females who have lost a male relative in the fight in 20-year insurgency with the russians in that region who have undertaken suicide bomb attacks in the past. there is also a number of other individuals. i understood there was wanted posters, plastered around sochi over the last few days. there could be people inside the that ring of steel that the russians call it that are already in place that could undertake some sort of a attack. we can't forget about transportation hubs.
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we heard about the toothpaste tube threat, liquid threat of planes coming into russia. most of spectators will be russians. they will travel entirety of russia, huge country, name time zones and they have to come from plane or train to sochi. remember the attack last month in volgograd. this is a very volatile region. lori: given your expertise, peter, is russia up to the task to protect these olympics? >> i can't predict the future but i've been concerned about the russians willingness to go it alone. lori, i can only hope that sense of nationalistic pride, bravado is a mask for a lot of good cooperation that is going on behind the scenes. remember the americans are the ones who released this doingg paste threat or this -- toothpaste threat or liquid threat to the international airlines. vladmir putin didn't like the way the cold war ended. not very pro-american. he has not looked to people outside publicly. but i hope that behind the
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scenes there is a lot of international cooperation going on and information-sharingsharit will keep these games safe. adam: if the games are safe and pulled off successfully is there still a danger after they end to people who will be traveling throughout rush that? >> absolutely. they could decide to do something afterwards. people have to transit. my understanding only two airlines fly directly to sochi. one out of germany, one out of turkey. the rest have to go through moscow. the moscow has been attacked before. the airport has been attacked before. some of the most horrific attacks have been taken place in moscow by this group from the caulk can ses. -- caucuses. >> i don't want to be alarmist but i want people to be sober about the threat and serious about it. one of the groups is caucus emirate. and led by a man named amarov. both are associated with
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al qaeda. they have a number of different splinter groups. caulk can ses and dagestan has wanted independence from russia since after the cold war. they want islamist state. they want to be separate from the russian federation. they have undertaken an violent insurgency since 1994. this insurgency has ebbed and flowed. the result has been 10 or hundreds of thousands of terrorist attacks in that region and across russia including moscow. lori: concerning to say the least. peter brookes, thanks for joining us. >> thanks for having me. adam: want to check the markets. the dow continues to climb, sitting at a fryings session high. up 134 points. now investors are shrugging off the weaker-than-expected jobs report after a wild week of triple digit swings. the s&p 500 is back on track to snap its three-week losing streak of about 1%. snapping by -- amazon's new app lets you buy items by pointing your iphone at them.
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lori: amazon taking the concept of showrooming to a whole new level. the new app called flow is helping customers save money. users can take a picture of the product on the store shelf and the app will compare that price to the price on amazon. once the picture is snapped, amazon pulls up product page where you can hit buy. this is dangerous for me.
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right now the app is only on iphones with ios 7, for android users. too bad, for now. for now. adam: this will be dangerous because you have ios 7. iconic game of pinball bouncing back after taking a hit during the recession with the world's largest pinball maker stern, seeing sales up more than 300% since then right? jeff flock live in melrose illinois as stern's headquarters how the arcade game is making a big comeback. >> as hot as a soldering iron you see smoking as they assembly it. that is the underside of the pinball machine. gary stern is actually saved the pinball machine, right? >> we think it is important we have pinball machines in this world. >> your latest one, as we walk down the production line. fascinating to see how these things are assembled. see how complicated they are. luck the guts of a computer chip down there? >> they're a mechanical device.
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there are lot of mechanical parts and computer and electronics that is has to know what it is doing, yes. >> see the new machine, the mustang. we had a chance to play it at the chicago auto show. you live and die on cool designs, right? >> absolutely. mustang is cool, absolutely cool. we have a few samples of it here. we begin production in the beginning of march. >> beginning of march is kickoff. talk about somebody who has been hiring. we look at the jobs numbers. we've had a real renaissance in manufacturing jobs in america. how big is the come back for you? >> our business is up significantly since the recession. and, our, worldwide we're sell games. their business is up worldwide. therefore we need more people producing games. one thing is we make more variety of games. >> you make more than anybody else in the world. for a while they were just about the only manufacturer left in pinball. i leave you with the stock board of the guys thaw compete with which is cool videogames. they do well but i'll tell you,
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pinball is holding its own, today. and right here in chicago or outside of chicago is the home of the pinball machine. adam: from soho down to bright on, jeff flock, thank you very much. >> who are you calling deaf, dumb and blind? lori: never you. adam: i know you sure play a mean pinball. lori: you are a wizard. check out stocks on wall street. the dow holding up right at session highs right now at 125. ashley and tracy with full market coverage as investors shrug off the weaker-than-expected jobs report. a prescription for job creation and improving health care. the details are coming up next. ] [ 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 ghly skilled call center.
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kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. ♪ open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com.
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edging lower, but doubts about job growth not edging lower at all. drew mattis, chief economist at ubs joins us why he says this month's report may actually pose a big problem for fed chair janet yellen. ashley: three years in the making. a farm bill, 500 billion in federal spending over the next five years. we're moments away from president obama's comments on that very same bill. tracy: why wine drinkers are say,, aurevoir, we have a fabulous, fabulous wine making family. ashley: dealing with the work place jerk. coming up we explore the difference between a certified jerk and a temporary jerk. all that as we do the jerk-free edition of this friday edition of "markets now." thank you for joining us. we appreciate it. stocks are near session highs. let's get down to nicole petallides on the floor of the new york stock exchange. nicole? >> we're very lucky at fox
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business and right here at the stock exchange. no jerks around. let's take a look, dow jones industrials up 142 points. 15,771. so we're positive for the week with today's move on the dow. that's a gain of .9%. nasdaq and s&p also higher. s&p up 1.9% and nasdaq composite up 1 1/2%. all 10 sectors are in the green. the vix, the fear index, really taking a breather this week. you saw it at one point over 20 which is a big materials right? it was moving to some new monthly highs, only to see it pull back now at around 15.13 at the moment. there was a little breather from the nervousness. we're waiting to hear from the president. we'll see whether he says anything about the monthly jobs report we received this morning which showed fewer jobs added than estimated by the economy. thank you. tracy: thanks, nicole. we'll see awe bit. president obama signing the farm bill as he travels to michigan
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where he will have lunch with detroit mayor mike duggan. peter barnes live from the white house. hey, peter. >> the president is just finishing up a tour of a biotechnology plant at michigan state university out in east lansing, known as moo-u because of exemplary dairy programs. the president will sign the farm bill after he talks about the agriculture economy which has done quite well over the last five years thanks to rising commodity prices and very strong higher productivity. farm income forecast to hit $131 billion for 2013, up 46%, and the highest since 1973, adjusted for inflation according to the white house. the white house says the new farm bill will help provide long-term certainty for farmers an ranchers and processors and customers. it will replace the direct crop subsidy program with a new crop
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insurance program. it will reform the food stamp program to save about $8 billion. it includes a made in rural america program to help boost farm exports. now the president, while he is out there in michigan, did grab lunch with detroit mayor mike dugan. detroit filed for bankruptcy last year. as you know, owes $18 billion. the administration insists it is not going to bail out detroit but it is providing the city with $300 million in assistance under existing federal programs. tracy and ashley, back to you. tracy: peter barnes, thank you very much. ashley: movemoo hu. all right. another month of jobs growth. december payrolls, revised up by only by a thousand, marking this the weakest two-month stretch of job growth in three years. now the to break down what all this means for the future, we're joined by drew mattis, ubs deputy chief u.s. economist and our very own sandra smith. thank you both for being here.
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drew, let me begin with you. i get the feeling this raises more questions than anything else. two consecutive months now, very weak job breath. yes you could plame the weather for part of this but what is really going on do you think? >> i think there has been a little bit of slowing on the trend. we have a whole lot of volatility baked in with the weather and. if i'm sitting on the fed, i have another month of jobs data to look at before i bet to my meeting. i'm going to be very thankful that i do. i will view the rest what is going on last couple months as a mess and i want a clean piece of data to look at before i make a decision on tapering. >> sandy, we were talking about the economy and retail sales and holiday shopping was so dismal, right? people don't have extra change in their pocket. many of them don't have jobs still. the economy is really not, i mean it is chugging along at best? >> so it is important to point out that the government did specify, they called this report a disappointment.
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they called it weak but said the broader economy is steady as she goes. tracy: of course it. >> if you dig into these numbers there are really some depressing numbers and you referenced retail. 13,000 jobs lost in the month of january. macy's laying off 2500 workers. jcpenney's closing 33 stores, shedding 2000 workers. so the retail industry still really feeling the effects of a consumer, as we seen all the polls detail, still reflecting the consumer that feels like they're in a recession. ashley: but, drew, you know what is interesting? i mentioned before it raises more questions because construction hiring picked up which would suggest that weather was not a factor. in fact the week that the labor department took ttis survey, the weather was actually quite decent compared to what it has been. you know that in mind, we also have manufacturing jobs increasing. i mean is the economy actually better than these numbers suggest? >> i think it is. i think what we're seeing here is a lot of people watching
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weather reports and thinking to themselves, maybe i don't have to hire for next month or next week because i'll wait a week or two. therefore you just kind of miss the survey week. never gets reported someone out of work due to weather. it is a hiring manager to make a decision to put off hiring for a week. it kind of skips that one month the way the survey is done. if you look at unemployment rate and look at the fact it is dropping an look at fact participate race is edging higher. what is does it really suggest that is the decline in the participation rate we've been seeing over the last couple of years is really the baby boomers exiting the workforce and it is not something related to the recession. it just so happened they both started in 2008. what that means for the fed is, you don't need as much job growth because simply there are not as many people looking for work as it used to be. i know for someone probably looking for work i will get hate mail on that, but in the aggregate that is the way it tend to work. i think if we look in the aggregate, this report has some bright spots which is the
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household survey which gives you the unemployment rate and has weak spots which is the establishment survey which gave you the payroll numbers itself. tracy: -- >> well, the number there, 3.6 million americans have been out of work for six months or longer. that is probably pretty painful for a lot of those folks to hear. you mentioned the labor participation rate, i guess the good news in this report, i talked to a money manager at ubs right on the number, why is the market rallying on this horrible report? into it was labor participation rate. ashley: .2. >> they were gloming on the fact it rose .2 after percent. the fed was reversing going higher. sttll 63%. and hovering around the lowest labor participation rate since 1978. keep that in mind if you're looking that as possibly some good news. construction, we're, jobs that were added, keep in mind that when we talk about 48,000 construction jobs added in january, that in december, 22,000 were lost. so one thing that i was looking
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at going into the report. historically speaking after you get a horrible weather month like we had in december and get a horrible jobs report which we now know is 75,000 jobs added, just 75,000 jobs, you tend to get them added on payrolls in january and get a better than expected report. we didn't even get that. so, you know -- tracy: i want to jump to drew and change the subject a little bit. talk about inflation, drew. what does janet yellen worry about going in? does she worry about it at all? will we ever worry about inflation again. >> i don't think she worries about inflation but i think what she does in her testimony next week because the unemployment rate is falling and participation rate is staibizeing it really puts pressure on the fed, said 6.5% they would start raising rates. we're at 6.6 right now. they're nowhere near raising rates. they still will be easing into december. she has to refocus the market on low inflation readings we've been getting. they stopped falling. some evidence they're going up
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but they're still low. and if she, the problem for her if she focuses on low inflation everyone will take her to be uber-dove. that is expectation people have coming in. if she gives testimony that support that is viewpoint it will make it, the market will take it and run with it. i wouldn't want to be janet yellen next week because she is in a difficult spot ratifying market expectations who she is even though they're probably misguided. ashley: what do you think, sandra? could we see taper of the tapeer? what kind of data will start making them wonder whether they should be scaling back these purchases? >> that is obviously the one thing i heard talking to these buys, why is the market rallying on this horrible jobs report? could get a slowing of tapering or maybe not $10 billion. @anet yellen has huge job in front of her. i said i think her approach will be very pragmatic. i have no reason to believe otherwise. she will tackle the problems on her plate.
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she has the emerging market story on her plate. that was not addressed at the last fed meeting. ashley: should improve a little bit. >> a little. tracy: i could say ash and i will not have cocktails tonight [laughter] ashley: that's a good place to leave it right there. drew mattis, thank you as always for joining us. sandra smith, thank you so much for being here. appreciate that. tracy: just saying happy friday. just hours away from the olympic opening ceremonies but a cloud of concerns hangs over the pomp and circumstance after a failed hijack attempt. we have a live report from russia next. ashley: disconnected? shares of linkedin falling as the outlook misses expectations. what is the future for the professional social network and can it reconnect with investors? tracy: in our tech minute. fighting back. people are making their voices heard and taking it to the digital streets to protect the nsa's spying power, to protest i should say the nsa's spying power. the dow is up 140 points even
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so ally bank really has no hidden fees on savings accounts? that's right, no hidd fees. it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. ashley: with the country on high alert after an attempted plane hijacking earlier today, russian authorities of course beefing up security in and around sochi.
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with a look at the steps being taken to protect the world's best athletes, go to fox news's amy kellogg in moskow -- moscow. amy? >> ashley, there has been quite a lot of drama between the lavish opening ceremony of the 27th olympic games in sochi which took viewers through a quick tour of russian history, all the highlights there and there was ballet and opera and spectacular fireworks show at the end. somewhere during that ceremony there was a hijacking attempt, not in russia. i should say an apparent hijacking attempt because the details are still sort of coming together here. but it was a pegasus airlines flight from ukraine to istanbul and apparently ukrainian man one drunk according to some reports, said that there was a bomb on the plane and he would explode it if the pilot didn't divert to sochi. now the pilot did not divert to
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sochi. landed instead in istanbul. the ukrainian man is now in custody. everyone else as far as we know is in safety. now meantime there have been big security concerns for months now as homegrown terrorists from russia's restive north caucasus region threatened to, making olympics in sochi the biggest security operation ever. sochi is a veritable ring of steel. but areas outside the olympic zone like moscow many worry could be particularly vulnerable these days. we spoke to one investigative reporter in moscow claims security is beefed up in transportation hubs there are worries about other threats such as computer hacking. >> quite serious because the threats are not only by, someone might try to steal your money or groups of -- [inaudible] and they, clearly said they want
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to slow down the websites of olympic games -- [inaudible] also the sites in sochi. >> metadata gathering here, ashley becoming sort of a hot topic as analysts and experts such as he is saying that the computer networks are not very secure. that the security services are going to be very close attention to everyone's communications here. of course they say it is all in the name of safety for these olympic events. others say it is gone a bit overboard but president putin has sworn that these will be safe games for everyone. three weeks for us to see if that actually plays out. hopefully it will. ashley: let's hope so. amy kellogg in moscow tonight. thank you so much, amy. tracy: it is quarter past. we have to get a check on the markets. nicole petallides on the floor of the exchange. seems twitter is not only
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internet company getting slammed on earnings, huh? >> that's right. twitter tanking about 20% this week. it bounced back a little bit. but linkedin is one we're taking a look at. linkedin which has been a stellar performer over the past 52 weeks was to the downside, 6 1/2%. 208.08 is where linkedin is trading. it wasn't latest numbers that were problematic t was the revenue expectations going forward. with that guidance weaker than expected that is what hit the stock here today. as i noted 52 weeks performance it is up about0%. so it has been -- 80%. has been a great performer. big move to the downside, six 1/2% lower. back to you. tracy: thanks, nicole. see you in a bit. ashley: all right. we have a stock alert for you. history in the making on wall street as google overtakes exxon to become the second largest publicly-traded company. the only company bigger? take a guess.
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apple. of course. tracy: wow. ashley: google and exxon shares moving in opposite directions this year. google up 3 1/2%. while exxon down 11%. tracy: crazy. while we try and keep -- fox business, every now and then you come across a real jerk. actually you don't come across them here at fox business. ashley: no. tracy: maybe at your office we do. we have tips for dealing with the work place jerk, next. ashley: that should be interesting. he is no jerk. he is a pinball wizard. our jeff flock exploring the fast growing popularity of bumper, flippers, bells and buzzers. no tilting of pinball. we'll be right back. welcome back. how is everything?
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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 eier. maybe a promotion is in order. good news. i got a new title. d a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. open to innovation. open to ambition. open to boldids.
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that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger ontomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. but when we sta worrying about tomorrow, we miss out on what matters today.
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>> 22 minutes past the hour right now. hi, everybody, i'm jamie colby. this is your fox news minute. turkish authorities are apprehending a would-be hijacker on a brownedded plane in istanbul, that flight originating in ukraine of the according to media reports the detained individual wanted to divert the plane to sochi, russia, of course the site of the winter olympics. >> syria making good on agreement to evacuate syria and homes. they evacuated dozens of the citizens from the embattle
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century city to a safer location. that is part of a planned three-day sees fire in homs. that is one of the hardest hit cities in the three year war. state department is accusing russia after new low after a taped conversation between secretary of state victoria nuland was leaked and posted to youtube. using choice words about the european union reportly talking to the u.s. ambassador to ukraine talking about the tense political situation in that country. those are your headlines, i'm jamie colby. >> jamie, thank you very much. >> take care. tracy: time to take a look at what is hot on foxbusiness.com. kate rogers joins from us the newsroom with what's trending. hey, kate. >> hey, tracy. we've got tons of great content as always. our number three story on our site right now is actually a video interview and video article i did with robert sutton who wrote the no a hole rule.
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how to deal with difficult personalities in the work place which we encountered in our careers. number two is the story on gas prices by matthew rocco. aaa warning that gas prices are set to rise this spring. the national average could go as high as 3.57 a gallon. not good news for is. number one an hitting hard is the story about the job report from dunn staun pyle. 113,000 jobs added in january and likely to send investors scrambling whether the fed will continue its plan to scale back its easy money stimulus policies. >> i love him, but we have to talk about the jerk story because everyone, people know, people unfortunately across them at the office sometimes. again i will say, i have not here at fox business but if you did -- >> me either. tracy: what do you do? >> he says there is distinction between certified jerks and temporary jerks. certified jerks there is not much hope for because he says
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these are people who have this bad temperment and ingrained in their personalities but temporary jerks, for companies that have them working there, they might be willing to keep them as long as they go through some job training and maybe change their attitude a little bit. he said it is really hard to fire productive jerks which you can imagine. tracy: yeah, but you know what? they, what did you call them certifiable jerks? >> yeah. tracy: that is like a textbook term i guess. >> yes. tracy: these are nutters that bring negative energy to the work place. that should be feted out during interviews process. you have to blame management because they should have felt negative energy during the interview. >> he gives great tips how to handle it. the practice the fine art of emotional detachment which we can all take a nice lesson from. tracy: i'm sicilian. we're so good at that. kate rogers, thank you very much. >> thank you, tracy. ashley: what is the phrase you always use? >> he is dead to me. ashley: don't get more detached
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than that. kate rogers, thank you very much. coming up in the next hour of "markets now," take notes. we have a doctor making money from obamacare. his describe business is booming thanks to the growing need for more electronic records. tracy: going postal. first quarter results are out and the u.s. postal service has now had losses in 19 of the last 21 quarters. that's a problem. we'll break down the numbers next. don't go anywhere.
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tracy: 90 minutes to the close. tons of green but got to talk about american express your big doubt winner today. raising from a neutral to buy. bullish analysts feel confident after hearing the company's call. that initiative is open which is aimed at small businesses among small merchants right now. nicole petallides on the floor of the stock exchange watching the other stuff. nicole: watching the overall market's, the dow jones industrials up 138 points. that is a big move for wall street pushing us in the green, so you are seeing some up arrows and pointing out some winners in the dow jones industrial average. showing you a retailer that is a winner, and that is the gap, up 6% at the moment. and the earnings guidance above the analyst estimates and getting on board with the gap and that is why you're seeing
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stocks, the gap is old navy and banana republic. right under the gap umbrella, and retailers doing well today. ashley: thank you so much. in tomorrow's business today, startling new numbers from a study by the american journal of emergency medicine, it shows that on average 43% of doctors time is spent on computers, 20% is spent on actual direct contact with patients. our next guest has come up with a way to reverse these numbers. dr. michael murphy is co-founder of scribe america. he joins us to discuss how he plans to do that. welcome. you had tremendous success with scribed america. explain to me what it is and why doctors are taking to this with
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such pleasure because ultimately those numbers from that study showed doctors are not paying enough attention to the patients, too busy trying to do all their clerical work. >> scribe america was created in 2004 trying to assist physicians and nurses to get back into patient rooms. electronic health record mandate how great it was and the intentions were to decrease scans and be able to travel and have access to your health records wherever you go. the unintended consequences that the study represented essentially taking a physician away from the patient. and documenting or spending two or three hours after the day completing the electronic health record. physicians are essentials becoming data entry specialists which is obviously frustrating
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to them and catapulted describe america's growth. we take documentation, when that encounter is completed, these are entered by the physician and the charter is complete, that allows the physicians to see more patients and spend more quality time at the bedside. ashley: describe if i understand this right is in the examination room recording everything that is observed, what about confidentiality between doctor and patient? >> the doctor and scrod will see you now and the team of pro health-care changing, said to everybody else and the patients are very receptive to having another person in the room, they look professional and wear short white coats and go through the same training hospitals mandate and we mandate as well, have
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them going through extensive training patient confidentiality and patients have been receptive to it as well as physicians. ashley: since you began your company how much has it grown. how many scribes across the country working in these hospitals and doctors' offices? >> currently we have 36 and describes, in 150 hospitals in the country and 40 states so we averaged growth each year with the new mandates coming down, basically going from 17,000 coats to 140,000, two midnight rule that got delayed and the affordable care act where is essentially millions of people having just received insurance and a physician shortage as well as shortage, smaller networks. physicians are essentials being forced to do more with less and everybody -- physicians have a great heart in hand and want to see patients and spend time with
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them and we can only see scrod the going to grow dramatically because we allow them to see patients and spend more quality time and more patients in a day which hopefully can allow those physicians to give raises to their supporting staff. ashley: we had another week jobs report today. it seems to me this is an area where there will be jobs available. how hard or how easy is the training and what salary can you earn doing this? >> all of our scribes' go through two or three weeks of training, we teach them physiology, medicine, going to the classroom, learning electronic health records and do 5 or 6 apprenticeships in the clinical setting where they are. they can earn anywhere between $10 an hour and we have some senior project leaders making six figures a year so this is a place where people around the country can grow, and create a career within the company.
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ashley: we wish you continued success and we love the fact that doctors are spending more time with patients as a result which is great for everyone. thanks for joining us. >> thank you for having me. tracy: there may be some hope for the u.s. postal service. the postal service narrowed its losses in the first quarter ending in december as a surge in online shopping in a package delivery boosted delivery and the agency which has lost money, in 19 of the last 21 quarters, lost $350 million from october to december but revenues from package delivery did rise 14% mostly due to growth in online shopping and a big deal they had with amazon to deliver packages on sundays in u.s. cities. the news comes as the postal service continues to struggle with tumbling mail volumes and required payments for future retiree health benefits. does anyone send cards anymore?
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ashley: we have some breaking news. oil prices posting big gains on the day, $100 a barrel before ending up $2 in $0.04 at $99.88 a barrel around $100, the highest sentiment price since december 27th. brent crude up $2, cost of oil going up and the. chipping away, ibm looking to sell its cit manufacturing operations. the future of big blue in your tech minute. tracy: we are talking race or bell. and in the one segment we head to nasa. not ashley and i. to talk to the ceo of american wine business. we will be right back. [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're nna fall in ve, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together
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they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria and helps dissolve stains. that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day. adam: adam shapiro with your fox business brief, refineries said production for seasonal maintenance, and $3.55 fought, $3.75 a gallon. it is $3.76. the value of bitcoin has plunged after the digital currency cop exchange, the tokyo-based exchange, has technical problems caused by boosts in withdrawal requests.
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will provide an update monday. the justice department sending a probe into samsung electronics. the antitrust investigation focused on samsung's attempt to use sandra's essential patents in legal battles over certain i phone and ipad models. that is the latest from the fox business network giving you the power to prosper.
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tracy: to my most favorite line with me, the wine industry completely on the rise. america found the largest wine market in the world with 19 years of consecutive growth. we recently passed total wine consumption and talked about this before. is no sign it is slowing down. joining with more on the trend, david duncan, ceo of american winery silver oak cellars managing partner of totally
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sellers. what an honor to have you here. you are right up there with schaefer in the valley. old family traditions and history in wine and all here in america. how do you do it? >> we have been very fortunate. we started the winery with our partner in 1972, and have been the duncan family and we had two brands and as you said in the intro wine consumption in america is on the rise in a big way and we provide a product people love. tracy: every wine cellar out there, i spoke to a gentleman who built sellers and one common denominator is there's always a bobble of silver oak massive valley in every seller he puts up. how does that happen? i can get $110 and it is fantastic. how do you keep selling that? so many different wines, different vineyards out there
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these days. >> one thing i get told all the time is the first law of fine wine, i call it the e epiphany wine, they get to try that wine and understand what it can be. your first love, you always go back to that and want to stick to the things that brings you into something new. tracy: old habits die hard but you did expand. you guys were strictly at cabernet house at one point and as you mentioned came out with a second label. merlot making a big come back. that stupid movie sideways is over and done with. >> sideways is over and done with. the disservice that did to the merlo industry, the merlo that is remaining on the market, very fine wines and like ours, a single vineyard wine, we work with the esteemed, finest merlot winemaker in the world, it is a
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great honor to have him part of our project. it is considered one of finest wines in the world and is merlot base. tracy: people slammed merlo as grape juice. it is crazy because anyone who has had a good glass nose is a good wine. what do you see trending? this notion of the blend coming to the forefront more and more? where are consumers looking that you at the big stable house keep up with? >> the main thing in today's market is about wine and food together, the rise in the american wine industry and the u.s. taking over france is the largest consuming nation is part and parcel with what is happening with the food business and fine restaurants and growth of people caring about what they eat and seeking out fresher and better produce and better meets, they go together hand in hand and that is what we focus on wine and food, making one
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delicious with food. these wines are built around that. they are not built to be compared to other wines but to complement your meal. tracy: that is different in the process. and many don't understand when you make a wine to eat and drink tea immediately as opposed to hold the production is very different and you do a lot with barry sensory and things like that and technology to make the wine drinkable today. >> we do -- we talk about it being drinkable on release. however the wine ages beautifully from 20 to 25 years. we were with my father last weekend and we drink 1974 that was holding up amazingly well. we age in american barrels for two years and bottle age the wine for two more years before we release it so our current releases are 2009 vintage.
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we just released that last weekend from the winery and many wineries are on their 11s already. tracy: that is the beauty of it. i have to taste and i don't hold anything so that is why it is fabulous all your wines are drinkable today. thank you for being with us. >> all right. ashley: it is the quarter till. sox head for a nice weekly gain. let's head to the stock exchange where our good friend teddy weisberg joins us. the market says whoo-hoo. what is going down. >> bad news is good news especially on the back of yesterday's rally up 188 points closed on high and though we still have little time to go on the traddng day we are trading at the high of the day and climbing all day. perhaps it is the earnings. hard to understand because
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january is a bad month, and these were not so good and in fact this conversation last week, i was pretty bearish and certainly i can't speak for anybody else but i am pretty flatfooted here because clearly i thought we were going lower. ashley: that is the beauty of it, keeps it interesting. have a great weekend. appreciate it. it is time for your tech minute. shares of apple up nearly 2% as the company buys back more shares. the iphonemaker says it repurchased $14 billion in stocks since reporting quarterly earnings with 2 weeks ago. ceo tim cook says quote makes it means we are betting on apple. we are really confident about what we are doing and what we plan to do. the latest buyback bringing apple's total to $40 billion over the past year, still a quarter of what activist investor carl icahn says he
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wants shareholders to do. ibm looking to unload its chipmaking business. the tech giant has hired goldman sacks to look for potential buyers. the tech giant planning to keep its chip design unit but taking a step away from actually building the chips could use the company's bottom line and reduce its dependence on selling hardware. ibm says it is not committed to that sale and may look to set up a joint-venture for the unit. the report comes two weeks after ibm agreed to sell its low end server business, $2.3 billion to the chinese pcmaker lenovo. market on your calendars. tuesday february 11th thousands of civil liberty and online freedom groups will take to the digital streets in an internet revolt against the nsa. the web based process, the day we fight back, it is asking participants to flood the telephone lines and in boxes of congressional offices to voice
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support for the freedom act, a bill that aims to restrict the government surveillance authority. digital and personal cops taking to the virtual streets to see if they can hold back the processes. tracy: confusing to me. 50 years later americans still love them. strawberry fields forever. we celebrate the fab four and tell you how to get a piece of history for your very own. ashley: you are going to flip over this. jeff flock with the real life simple wizard. jeff: you are looking at the world's newest pinball machine. the mustang. i am playing get live and have an audio man with me. will talk to him when we come back. nice job. think you'll need when you retire? then we gave each person a ribbon to show how many yes that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years ol
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i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ [ 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. [ lennouncer ] ...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. ♪
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ashley: 50 years ago today the beatles landed in the u.s. for the first time but even at half century later beetle mania very much alive and well. a piece of backdrop autographed by the beatles during their first u.s. appearance on the ed sullivan show 50 years ago, heading for option. it is believed to be the largest deals autograph ever. a stage and is credited with getting a band to sign the wall in the spur of the moment, he was very clever but before you get too excited money may not buy you love but you will certainly needed to purchase this piece. is expected to draw $800,000,000,000. would that would grading a living room? a piece of real history. tracy: really cool. this is cool too. pin ball bouncing back after taking a hit during the recession so much so that the
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world's largest maker of the iconic game says business is up threefold. jeff flock is in illinois, how cool? jeff: gary stern knows good times and bad times and he tests the games to approximate a guy who is pretty much drunk and doesn't know what he is doing. >> didn't say it like that. i drank a bucket of beer a little slower. jeff: activevision today, these dyes you compete with. >> we compete with all kinds of different entertainment. years ago there was no internet, no netflix. >> this is a huge facility, 40,000 square feet they make
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most of the pinball games made in the world. to have the guts of a pinball machine here. we have had a real renaissance. >> increase our staff significantly, the manufacturing and overhead areas. and never intended to. jeff: manufacturing alive and well. show him what it looks like. look at how they do that. there is the top of the board. very cool. tracy: that is really cool. >> a bucket of beer probably. ashley: they don't play so well.
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ashley: thank you so much. coming up on countdown to the closing bill, "countdown to the closing bell," jobs report falls back. why were they cut in government jobs? we will put those to the labor secretary and the rest of the day's market action is next. don't go anywhere. welcome back. how is everything? 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. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
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buys back shares of the company. tim cook concedes buying back $40 billion of shares as carl icahn takes of victory lap. who holds the brains now? jay leno says goodbye after 22 years making way for jimmy fallin. will the tv ratings gold or a tune -- turnoff? countdown to the closing bell starts right now. liz: good afternoon. the last hour of trading on jobs friday. it is the perfect example of why you can never ever anticipate what stocks will do in spite of
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