stuart: you used to have those things. >> it is going to be embedded in my finger eventually. stuart: dagen mcdowell, it is yours. dagen: president obama heads to the summit amid rising controversy over his minimum-wage plan. is it a job killer? former budget director david sttckman is here. deadly protest in the ukraine. 2 dozen people killed, hundreds injured in claaheses with police. atop road for truckers, winter weather and rising fuel prices and facing new fuel economy rules from a white house. the head of the american trucking association ways in. tonight's power ball jackpot the sixth largest in lottery history. americans lining up for the chance to win $400 million. that and more coming up on this hour of markets now. connell: i had forgotten about

the power ball but i never play it, you usually do. dagen: put it in the calendar. connell: let's go to nicole petallides at stock exchange to get started on markets now. nicole: good morning. we are watching the markets as you noted ahead of the fed and we are up 66 points at the moment, 1/2% mixed bag of winners and losers. the s and p is higher just like the dow down 1/4% and the nasdaq pulling back, coming off of two story weeks of gains for the dow but traders think the momentum remains to the upside and continues to note the fact we stomachs some tough economic news like jobless claims and others that haven't been so great and the market still managed to rise higher so there is good news that could propel us to the upside. that being said we had a couple pieces of news from abroad including u.k. unemployment rate, and expected the edged higher and we have a big merger

deal today in the jewelry business. a lot of pieces of news on wall street today. connell: congressional budget office out with a pretty rough estimate when it comes to employment for president obama's minimum-wage hike for federal workers saying it would cost the nation at least half a million jobs. dagen: rich edson is in the middle of the spin cycle, left and right trying to spin their report with more. rich: democrats and republicans love the congressional budget office when the cbo agrees with them. the white house was asked how can you tie the cbo analysis of the minimum wage proposal may put out when it supports your findings of lifting people out of poverty and giving 16 million people a raise, go after the cbo when it attacks your findings, the white house is saying we do agree with some things but just like anything we do along with others disagree with the cbo on the number of jobs it would cost the economy. the cbs saying 500,000.

earlier the director defended those findings. >> i think larger increases in the minimum wage from 0 to going to $9 or beyond that you are likely to see progressively larger numbers of people who benefit from raising wages and progressively larger reductions in employment. coonell: after the cbo report the white house came out with a blog post saying these estimates did not reflect the overall consensus view of the economists which is that raising the minimum wage has little or no negative effect on employment. president obama on his way to mexico three amigos summit in north america talking trade, immigration, energy as well as the situation unfolding in the ukraine. we will hear from the president on that later today. connell: thanks, rich edson at the white house. dagen: more on raising the minimum wage and the impact on our economy and jobs. david stockman is here, former director of the office of management and budget under

president ronald reagan. always good to see you. i don't know that statement from the white house, democrats love the it raises wages for 16 million people, however, they disagree with the 500,000 jobs lost. that statement mostly economists i talked to and whose work i read may think this would kill some jobs. >> just another case of washington plunging into the complex machinery of a $16 trillion economy and ending up doing more harm than good. cbo itself admitted 500,000 jobs and the cbo is a readout of keynesian -- normally. you got to take that seriously. the fact is when you arbitrarily raise the price of labor by 40% at the low end of the economy or going to encourage capital to be substituted, technology to be substituted or even people to substitute consumer labor for hired labor.

you go to the restaurant and have an ipad, not a waiter, go to the curse the store had a self scan, not a clerk. go to a hotel and there will be a robot cleaning your room, not a made. why do we want to do that? the benefits are very arbitrary. cbo's shows of the so-called wage increase 6 billion will go to people at the poverty level or below. 10 billion will go to those at three times the poverty level. 75,000 the year because their secondary or tertiary earners. there is a better way to do this. it is called the earned income tax credit. stay out of the market. don't disrupt the delicate machinery of wage and price setting and substitution of economic inputs and so forth. look at what someone can earn as priced in the marketplace. it is $15,000 then with a family of four, that is the minimum wage, they get to a $5,000 a

year in earned income tax credit supplementing what they are earning in the marketplace. that is the equivalent of $3 an hour. that is already the equivalent of $10 an hour, wage in the marketplace and income-tax credit. if we need to do more let's focus on the earned income tax credit because it is targeted, it can go to the true low income family, working hard and not making it in what we had today in the marketplace. dagen: to your earlier point of the cbo clearly states many low-income workers are not members of low-income families. teenagers for example or the second wage earners. i want you to address because you have almost 20 states have higher minimum wages than the federal minimum wage at this point. do you think the state should set their own minimum-wage? that there should be -- where do you fall with that? >> the minimum wage has been a

bad idea for decades, since its inception in 1938. we shouldn't be trying to determine what the minimum wage in the marketplace is. let that be worked out between people who want to sell their labor and businesses. connell: not going to get rid of it. there's going to be a minimum wage. >> get rid of it by resisting the increase because we haven't had an increase in 1991. in real terms the minimum-wage has fallen. therefore it is less of an impediment, less of a blockage to the marketplace and entry-level job creation and we should leave well enough alone. connell: the argument where people say you can't live, always comes to you can't live on it and $10.10, 8 something at least. >> this is the point i was trying to make. i agree with that. i would like to tax the two of you and myself in order to put money where doing $60 billion a year right now coming into the earned income tax credit so

someone working in minimum-wage job, training hard, doing their best but not have the skills can have a decent standard of living because their fellow citizens will supplement what they do for themselves and the market. that is what we should do. a progressive president in the white house ought to know that better than anyone else. tax the more affluent, tax the middle class, help people at the bottom. that is the right way to do it with an earned income tax credit. dagen: even if the federal minimum wage doesn't go up to what i was saying earlier, you have the states that and still raise it. they could offset any benefit you would get at the federal level. >> they could but i think there is a control mechanism. of one state gets too far out of line they will encourage entry-level wage work to move to states that don't have such a high rate. we are just going down the wrong path here.

this is just another washington scam that tries to convince the low-wage workers that the government is helping them when actually it is probably going to jeopardize the jobs. dagen: thank you so much. connell: appreciate that. we have but news alert. the situation in ukraine that rich edson previously mentioned what is going on over there is incredible. pictures coming out of the capital city. live pictures once again, kiev involved in violence since earlier today. things have quieted down after the violence yesterday, 26 dead. these protests, apparently it has ramped up again, hundreds more have been injured. it is not letting go. contrary to the prior reports or at least the hope that things -- the white house urging the government to pull back to the riot police and call a truce. president obama is expected to make a statement on the situation in ukraine during its visit to mexico. the european union reaching the

consensus buying sanctions in ukraine, the e.u.'s commissioner placing blame on the political leadership for allowing this violence to escalate. the worst violence we have seen in the ukraine since these anti-government demonstrations got started in november. the last few months have been quiet until the last couple days. dagen: training stuff. president obama targeting the trucking industry. his latest push to raise fuel economy standards, to combat climate change. the american trucking association, what does it think of it? the ceo is here. connell: more ad news for the housing industry, housing starts plunging, third month we have seen that in a row. this time winter weather may not be the leading you can blame. we will tell you what you need to know on markets now. [ male announcer ] these days, a small business can save by sharing.

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[ female announcer ] crestor is not right for everyone, like peoplwith liver disease or women who are nursing, pregnant, or may become pregnant. tell your doctor about other medicines you'rtang. call your doctor rht away if you have muscle pain or weakness, fl unusually tired, have loss of appetite, upper belly pain, dark urine, or yellowing of skin eyes. these could be sig ore but ris side effects. crestor! yes! [ female announcer ] ask your doctor about crestor. if you can't afford your medication, astrazeneca y be able toelp. dagen: cygnet jeweler's, for $690 million. where are the shares? nicole: let's take a look as we

talk about these two jewelry companies, well-known cygnet and failed jeweler's, the smaller rivals. you have one agreeing to buy the other. both are moving to new highs today. cygnet up 16-1/4%, zale corp. up 40%. the offer for this deal at $21 a share, that is a 41% premium to yesterday's close. that is why you do see it jumping 41%. that is a 1-year chart, over 200%, great performance and cigna too, parent of kay jewelers, every kiss begins with k, put them together and make them a large position in north america for jewelry sales. dagen: thank you. connell: time to make a little money. that is the idea, with charles what kind of treat do you have for us? dagen: you going to demonstrate

it? connell: i don't know if you remember. charles: talking about taser. they have come long way. their products are amazing. anybody, any would-be investor, go to the web site, the first thing you are going to see is really interesting. total number of lives saved. right now their products have saved 120,784 lives. that is amazing. people who might have been heard otherwise. 70% fewer officer injuries, 40% fewer suspect injuries. what does this relate to? last time reported revenues of 22%, gross margins went to 62.8%, operating margins up two percentage points, also moving into the camera business. this will be huge. it is mall. margins are gigantic, you can wear them, cameras on the glasses and four on body armor.

absolutely huge and fantastic and last month contrast from marion county and also richmond county and georgia the department of defense, last month, new orleans, the orders keep rolling in. this is a stock that in december of 2004 was almost $32 a share. connell: thinking about you would be able to tase people from your eye glasses. charles: this is an amazing thing. they were in this position once before ten years ago and it had serious missteps. everyone wrote the company of. a lot of cash in the balance sheet on a major cut, major breakout closing up 19, off to the races. dagen: if i let you would ukase me? charles: in a heartbeat. connell: i would like to be. dagen: let him -- connell: you were not part of that. charles: they didn't have the right insurance.

dagen: apparently painful like an electric shock. they are scary and painful. how cool would that be? charles: we could do it at your next birthday party. connell: ouch. dagen: no. you should not do it on my wedding anniversary. charles: they make hand tasers for that. connell: thank you. dagen: the hot jewelry this year could be ed snowden doll. don't go anywhere. myspace.com, a 12 foot tall version of the nsa leaker for $99. charles: is there money in this guy? a change of clothes like one would be a prison uniform. dagen: the doll comes with your choice of a tire, tee shirt and jeans, businesses or even an indiana jones out fit and includes a whip.

proceeds from the sale will go to the freedom of the press foundation. connell: look at currencies on that note. dagen: get g.i. joe out. charles: no more money in g.i. joe. connell: $99. never mind. thank you very much. dagen: but looks a little like you. . connell: oil and gold next time. google taking steps to indicate the potential creepiest of google glass. we will explain that ahead. raising temperatures continue to brutalize much of the country. dagen: now is causing the price of diesel to skyrocket. jeff flock is on that story coming. connell: look at this. don't worry about it.

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connell: to the markets on markets now. is aging bull market means volatilities you to say, what is in big capital iq is saying but for people picking stocks including the director of research at ariel investments to talk about the markets. it is tough to find, quote,

cheap stocks these days. are you having trouble with that? >> higher than it was a year ago when the stock market goes up by 30% like it did last year. we would say overall value of stocks went up a little but not by that much. the difference between what stocks are worth and what they're trading forefront, got close to fairly valued at this point. connell: one area that is doing well coincidentally in today's market is energy. the s&p 500 energy stocks, 44 and at last check 39 of the more moving hire. energy is one of the areas you like. why energy? >> it is one of the areas that lack last year. a lot of big energy companies don't go out much at all last year. in fact despite the fact that oil is over $100 a barrel and natural gas has gone from $3 to $6 today these energy stocks haven't moved much. there are very high-quality companies like exxon, national oil, chesapeake, trading at 11 times earnings.

hard to find good companies at that multiple. connell: that four year high for natural gas that you alluded to a moment ago. the other thing is technology. we talk about new technologies, new and innovative company still coming up with ideas no matter what the overall economy looks like but you like some of the old big names. the microsoft oracles, those types of well-known technology companies. why is that? >> because you don't have the technology risk. it is hard to predict who is going to have the next great product. remember when everyone was excited about palm? when was the last time someone talked about palm or netscape or some of the old great innovators? is hard to make that prediction. what is not hard to predict is people will be running word. internet explorer. windows office. those products are sticky and they are going to be around five years from now and they will be making money five years from now. connell: whether we like it or

not ttey are sticky. let me ask you before i let you go about the negative class or potential negatives. even today the conversation centered around the federal reserve and what will happen with interest rates but in your thinking and research that is not the focus now. you have been riding and concerned about china. why is it not our federal reserve as many people are talking about, and china? what is it about china that worries you? >> the reason we are not concerned about the fed is everyone is talking about it. everyone is talking about interest rates going up and we think that is right but basically boiled into the markets. it is well understood and not a big risk. china on the other hand people talk about growth going from 9% to 7%. if it is a lot more serious than that it does 2% to 3% that could have a significant impact on certain markets. connell: you put a high probability on that? >> i would say it is a situation where the risk exceeds what is built into the market. there's a lot of leverage in

china. people borrow the money to buy apartments. shadow banking system is very levered. we think there is a risk the china's growth rates will drop significantly. if that happens demand for certain commodities could drop and have an impact on some companies that sell products in china. connell: more than what is billed in which is a fair estimation. good to see you, thanks a lot. dagen: with new technology comes some new etiquette. google releasing its first official etiquette guide for google glass. in at the company urges you to ask permission for recording others, warns against coming the cross as creepy or roots. this comes as google is training the number of people who have these $1,800 prototype glasses, expected release later this year. connell: creepier is nice. what better way to end a brutal winter than winning millions of dollars? the power ball, americans lining

up to do that, to win big with the drawing tonight and no winners since last year so the jackpot is $400 million so it is $228 million you go all cash and six largest u.s. history, $400 million. dagen mcdowell will be getting her ticket as she goes out of here. dagen: and also come to work to rub it in your face and get rain all over you. president obama pushing for new emissions regulations on large trucks, the american trucking association joins us with his thoughts on the road ahead. connell: the drop in housing starts, former fannie mae officer coming on with what it means for housing as markets now continues. ♪

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dagen: a new report says it could cost target $200 million to replace customer credit cards after the holiday breached. nicole petallides has more. nicole: let's look at target. the holiday breach affected so many people across the nation there schering forks about their confidence pertaining to cards's usage overall. target has obviously had to absorb the brunt of this in many ways. as you noted one key thing we're looking at is the monetary factor and $200 million which is probably just the beginning of the costs they will be facing the 3 plays cards we have been looking at reports from the consumer banking association and credit union talking about a spokesperson for target saying it is hard to judge how much the total cost will be for the company in the meantime, something that it shares, we have seen shares down 9% and

barkley's, it affects -- this news is lingering, the big picture, they still like tigers, keeping an overweight reading, $70 price target. dagen: thank you. connell: feels like a heat wave in the midwest above freezing. the record low temperatures throughout much of the winter have certainly cent diesel prices skyrocketing. dagen: jeff flock is at a trucking company in illinois with more. jeff: gauging the impact of this from the front steps, the front seat of an 18 wheeler. ron windier with me, rolling up, go ahead and roll up to the pump if you can, the diesel pump. take a look at what distillate stocks of the. phil flynn talks about this all the time but look at the chart on it. tremendous demand for heating oil as a result of the cold weather, not an all-time low.

and what did the administration have to say? fuel inventories are below the lower limit of the average range for this time of year and that means prices are on the way up. >> they increased this winter with the cold weather and temperature, we had a hard time always the price going up. >> you passed this along to the folks that are shipping with you and that gets passed along to the consumer. >> the consumer gets thedeal be cover the price of the fuel has increaseds and that turned around to the end user which is ultimately us. phil: the march contract for heating oil and new york harbor all from low sulphur diesel and this is ultimately people understand this is the same fuel. >> the same fuel as what heating oil is used in houses and different items too.

phil: cold weather? >> she essentially cold weather and increase in fuel, heating oil, increase in diesel as well. this is an old pump. phil: digital stuff. i.t. of the old-style diesel pump. still a lot of money when you calculate it. dagen: i do too. an old manual pump. jeff flock. 1, 2, 3 for the trucking industry, wicked winter weather disrupting deliveries. diesel prices are heading higher and president obama pushing for new emissions standards for big rigs. joining me now with his thoughts former kansas governor bill gray, ceo and president of the american trucking association. always good to see you. let's start with the new fuel efficiency rule. this is not necessarily a bad thing for you guys because it will save you and fuel costs, will it not? >> we certainly hope so. obviously labor and fuel are the first and second largest expenses in the commercial

trucking industry so we are looking to be more fuel efficient and the difference this time around in the first round of standards for model year 14-18, and adapting in any way the new round that was announced yesterday, waiting to see what is going to entail, and technologies are commercially viable, we don't know what the r o i will be on adopting those technologies. the industry wants to be more fuel efficient but we are more cautious about this round than the last time. dagen: do you think there is enough in place, proposal for the standards is supposed to come out march of 2015 and implemented a year after that, correct? is there enough lead time? >> the folks that build the engines or tractors and we

expect the national rule and the trailer as the fuel efficiency calculation. there is enough time. it is pure speculation at this point but we in favor of fuel efficiency? dagen: you see what is doing to the light vehicle market for the aluminum f more 50 and general motors planning a limited version of its pickup truck and a let's talk about diesel and the weather. and in the last several months can we put a number on it? >> every operation is a little different but one member told me he was paying 15% more in fuel costs that result in the winter weather but it is not just the competition that was mentioned, previously mentioned with the home heating oil. these trucks are designed to run at speed, the best fuel efficiency is when they are loaded or when they have a load

and running at highway speeds. the weather has made everybody operate slower so you don't get those deficiencies. was spending a lot of time idling stuck in bad weather, burning fuel and going nowhere. and the bottom line has gone up in this winter weather. dagen: look at the economy broadly before we go, what does it look like to you? your business, the trucking operators touch so many parts of the economy. >> the numbers in december and january weren't very good. the weather hit us pretty hard. the numbers were still, there was an uptick and we are pretty optimistic. we think after we get through the winter months into the spring and into the third quarter this year our guys are optimistic we are going to have a pretty good recovery. dagen: good to see you, thank you for that. former governor bill gray, president and ceo of the american trucking association. connell: jamie dimon, lloyd

blankfein and eric schmidt reason would -- receive handsome rewards for their release of. while silicon valley ceos getting a pass from the public while bank chiefs continue to be under fire? dagen: under fire in san francisco for sure. housing experts tell us what the latest drop in housing starts could be the beginning of something much bigger. my dad has aor afib.briltion, hehe has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dtary restricons. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke.

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>> i am jo lin king with your fox business brief. keepinggqualcomm from overcharging ended using its market position, allegations made by the country's anti monopoly regulator could be directed find against the u.s. chipmaker of $1 billion. linkedin is giving its members more space to share their experiences, users will now be able to use windier posts to talk about their industry or their jobs. this is week to week after reported it slipped in the second consecutive quarter. general electric is suing the irs to recover $658 million in taxes and interests it doesn't think it should have paid. ge said it was until $2.2 million of capital losses from the 2003 sale of its struggling e r t insurance corp. but the irs disallowed those losses. that is the latest from the fox business network giving you the power to prosper. eople a questi, homuch money do you think you'll need when you retire? then we gave eachch person a ribbon

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they make housing starts plunging 16% in january, biggest drop in three years. the obvious weather problems many are blaming weak numbers on tighter credit standards. our next guest says that is not the case, sub prime lending is coming back. to worry about that, ed pinto of the american enterprise institute. why isn't it just the weather in terms of starting with housing starts? >> a lot of things going on here, the weather is certainly a factor, interest rates have been volatile. we have a weak job market, the job numbers of slowed down. it is the winner. these numbers are based on very small numbers of sales. it is a decline, but the one thing that isn't the case, we do

not have tightening creddt. in january half of all home buyers who took out mortgages had down payments of 5% or less, interest rates are still at historically very low levels. what we have going on is house prices are going up faster than fundamentals like grants and in comes and we have seen that before. dagen: are we seeing what we saw before? you have the banks, they want the revenue from making loans and so in order to get people into loans with home prices going up but income is not keeping track, they are listening the credit standards, that is what is happening? >> that is what is happening but the government is pushing it. the department of housing and urban development, jawboning lenders to make more fha loans with 580, 600, very low fight goes course, fannie mae, loosening up in terms of the

risk that it is taking gone, taking on more risk and all of this is going on in a market where houss prices are going up. we look at california and california has increasing mortgage risk, increasing housing risk, house prices are way out of whack with fundamentals and mortgage risk is going up. that is not a good combination. dagen: is not a good combination but will the individual be smarter this time and not take on a risky? don't the lot of money down. the home buyer is not taking the risk, it is the bank and you would think they would be smarter. >> housing lobby will push people to take out loans no matter what just like they did before. they have never seen a bad time to buy, they have never seen a loan that is too risky and they will just be doing the same thing. it is just happening somewhat faster this time. we have seen this deviation

between house prices and grants give a much faster this cycle than it did in the late 90s. that should give some pause. that is why we are now tracking the risk on loans, we take all of the loans that fannie and freddie, at h a due every month and risk rates and we risk rated almost 2.5 million loans and retract that every month and we are seeing that risk is going up and we are seeing where the risk is showing up geographically. dagen: what can cause them to pull back on the risk? what could happen? what would be the trigger? >> the trigger will be if house prices are declining. led the mortgage business works particularly with the government guaranteeing virtually all of mortgage credit is it will keep pushing riskier loans until house prices declined again. that may take two, three, four years. not saying it will happen tomorrow but when we see these

dd asians between fundamentals and house prices, we know they can't go on forever and when the correction comes it will be house prices declining. dagen: it is ugly. great to see you. thank you again. connell: stockmarket is edging higher at of the fed minutes so to talk more about it let's bring martin back, chief technical analyst, what do you mmke of the market at this point? >> stocks rebounded, the s&p got within one take of all time highs before stalling out but you see some divergence between the other indices, the dow jones 2 points shy of these levels, not all the indices are on even keel this morning. important to know if this cold weather brought on a real surge in energy prices. not only was natural gas but wti crude helping a lot of sectors that were beaten down things like energy. today is not only the top performing sector for the day but only the last five days

rolling, the number one sector seeing good strength on materials as well. those are two sector is to keep your eye on. connell: we will talk to sandra smith about that coming up. dagen: the battle of the big payday. wall street executives scrutinize for their large big compensation packages while silicon valley counterparts get a pass when it comes to their big paychecks. connell: the tech bigwigs not getting criticized as much. the bottom line from elizabeth macdonald in the news room. liz: good to be with you. is there a double standard between wall street and silicon valley when it comes to generous pay packages? that is the subject of the new york times column that is getting a lot of buzz in media circles and water coolers across the country. here is what is going on. eric schmidt getting $100 million in pay. that hundred million is in restricted stock and he is getting $6 million in cash. that is a lot of money to eric schmidt.

jamie dimon getting $20 million, $18.5 million is restricted stock. lloyd blankfein at goldman sachs expected to get the same a package. not happy about the generous pay given to silicon valley execs. the bottom line is there isn't a wolf of silicon valley, a movie out there yet. that is why there are questions about silicon valley pay even though they live the high life out there, reports out that eric schmidt has a yacht, a nice mention, a beautiful gulfstream jet. few questions, no criticism of silicon valley pay. why? wall street got bailed out, silicon valley considered to be makers were wall street considered to be takers by the general public. dagen: want to point out the community, remember silicon valley buses, google buses, people in san francisco have been on those on the left have been outraged at how -- high earners in thh valley have been

doing to say rent and in the community in san francisco. liz: there have been street protests but that hasn't caught the attention of the general media across the country. dagen: not yet. like the wall street movement where we had guys protesting on wall street. very interesting because it is a microcosm of maybe things to come. connell: leonardo dicaprio movie. dagen: wolfe of silicon valley. connell: starring elizabeth macdonald. dagen: way too did looking to play anybody who has ever worked in the technology industry even steve jobs. connell: even bo dietl wouldn't have a role in that. dagen: he was fine. connell: a four year high referenced earlier by mr. newton, sandra smith coming up. take a closer look next. dagen: if yoo can't fix it by it. coming up one woman's costly quest to get a certain tax on tee shirt off of store shelves. that is right.

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connell: natural gas biking to would highest level in four years. helping energy stocks make big gains up big. dagen: is not helping anybody if they use natural gas to feed their homes. sandra smith is here with today's trade. >> look all the green arrows, unbelievable moves.

look at the u.s. natural gas fund because anybody who doesn't play in the futures market is looking for a way to spike natural-gas in the stock market, obviously a good way, look at the volatility in the spike we have seen just over the past year or so. i want to show you how close we that does resemble the price of natural gas by comparing the two. here is a 1-year, 2-year to date where natural gas is the best performing commodity in 2014. the only ets has been closely tracking the commodity itself. that is one way to play that spike but you can go in and buy the production companies particularly chesapeake energy is one of them. traders are quick to point out this is down so far this year and natural gas prices have been rallying but near the high end of its 52 week peak, 19, starting to get pricey but i was looking at the options activity of chesapeake energy which does indicate a short-term rally on

the way for chesapeake. southwest energy, lot of analysts by country just as a beat, southwest energy up about 9% so this will be more of a momentum play. you can pay attention to the drillers when it comes to natural gas. that would be an example of that down so far this year but up 3% on the session and as i handed back, here is that huge spike we are talking about, natural gas at a four year high today as inventories of natural gas fall to the lowest level since 2004. all this cold weather, turning up the thermostat, using a lot of stock. next winter we could be facing sky high energy prices. connell: good stuff. dagen: we were going to wrap around that woman who brought those t-shirts up. connell: she wanted to get t-shirts off the shelves. bogdanoff the shelll.

more on that on the internet. next our markets now the weather has gone better in the midwest, a least above freezing for our friend jeff flock and lists predicting a run-up in heating oil. something sandra was getting into and jeff is in illinois. we will have more on this tour coming. dagen: former michigan congressman on why the cbo minimum-wage report only confirmed his years of what height would do ahead. ♪ ♪ here we are, me and you ♪ the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises.

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♪ >> which is going down the wrong path here? this is just another, you know, washington scam that tries to convince the low-wage workers that the government is helping him when actually it will probably jeopardize his job. cheryl: building over the president's plan to hike the minimum wage. hello, everybody.

i am cheryl casone. a new report from the congressional budget office says nearly three dollars more an hour could cost half a million people in this country their jobs. we need to build jobs not kill them. shocking economic data out today. housing starts plunging 16% in the month of january. what it could mean for the usually brisk buying season. $200 million growing. that is the price tab for fixing december credit card breach. the business of cyber security. a lot more in the next hour of "market now." ♪ cheryl: as i sit down for this next hour of markets now, we

have lost 48 points. i want to mention this, in the last two minutes, now we are going into negative territory. the nasdaq is doing quite well, by the way. it is the top of the hour. we look at stocks every 15 minutes. let's bring in nicole petallides. nicole: hi there, cheryl. we are seeing the volatility index to the upside. we had somewhat of a swing today. yet, right now, crossing the unchanged line as we speak. the dow is fractionally lower as we speak. the nasdaq is the worst of the three.

looking at volatility being a sign of maturing a bull market. it levels out once it matures. you may see the volatility again at the end of a bull market. cheryl: of thing that has certainly hurt the markets over the next couple weeks or so. the president minimum wage i proposal would be a job killer. rich edson is live at the white house. rich: the minimum wage increase can cost 500,000 jobs.

basically, it is consistent, the cbo's findings with other economists thinking. the cbo says this is not a random sample of economists at the white house. there is some difference of opinion about how to read the literature on the unemployment and minimum wage. there is plenty of research supporting the cbo. >> it came as a surprise for democrats. they have been trying to portray the idea that you could raise the minimum wage without a lot of job loss.

rich: president obama has left this to democrats and republicans here in washington. he is down in mexico right now. on tropic today will be trade, and patient issues and also the white house is discussing the situation that is ongoing in ukraine right now. cheryl: let's bring in pete hoekstra. he said it is another scam out of washington. the president is telling lower income workers that they are here to help them, but i don't think killing jobs is what the president is trying to get across to your. when you think about it, when you raise the cost of hiring people, companies will hire fewer people.

raising the minimum wage will cost american jobs and right now we need a president and we need a congress that is laser focused on stimulating the economy and stimulating job creation. all of these latest policies are killing jobs. whether it is the minimum wage, whether it is obamacare, whether it is dodd-frank, the war on coal, all of these things are hurting job creation. we need this president to start coming up with a new range of policies that will actually stimulate job creation.

cheryl: this could have maybe no impact whatsoever. >> it will hurt job creation. it will hurt most for the people who need it. the minimum wage will hurt those kind of jobs. if he wants a fight on the minimum wage because they believe they can win this battle politically leading up to november elections. i think it will cost them.

what we will see is stubbornly high unemployment. i think the president is barking up the wrong political tree at this time. i expect that over the coming months the problems with obamacare are just going to continue, if not be magnified. the shortcomings of obamacare will increase. unemployment is going to continue. the president will not win this fight on the minimum wage that will not go to the house of representatives. you put all of those things together and i think we will get to november and we will have a weak economy. we will have a failed obamacare plan. we will see increase in cost for

energy for american consumers. they will be very frustrated. i think it will end up being a sweep for republicans. i think if the president focus like a laser on creating jobs and putting in place policies that lead to job creation, actually he would have a chance of salvaging the election. ♪ cheryl: use of the data cross this morning. the biggest drop in almost three years. the latest in a string of negative housing reports.

joining me as we continue our real estate series, buckhorn. a senior vice president at raymond james. that is where their money is going. you like faulty. why? >> it is not that they are spending so much money on acquiring new land. one of the reasons his bacon developed quite a bit of the land they are ready own and very good quality locations. particularly, in high quality locations in the best school districts.

examining community locations into has the best school districts in the country. they actually screen as one of the highest. toll brothers is another. cheryl: let's try to get to the tricep on these guys. how do you hang onto that forecast when you have these kinds of numbers coming out this week overall. >> look at the numbers in detail. for example, the midwest.

the weather has been much of an impediment. right now we are watching this carefully. we really think it is largely weather-related. that fell in this report today. 5.4%. getting a building permit, that is not a weather issue. you could even file it electronically if you wanted to. why is that down so much? >> let's break that apart. it is actually holding pretty steady. that is an indication that single-family builders may be seeing single demand.

cheryl: he will be sending in some nice piles of cash. there sounds like there are some big question marks for 2014. the force of labor is one that is really really troubling a lot

of builders around the country. heating and air-conditioning specialists. it will take a while to get the labor back online. cheryl: thank you very much. appreciate you being here. good to have you participating in this. tomorrow we will be joined by

mr. baker. get ready. probably not going to be a good rapport. the target credit card scandal is growing. the cost of the breach going higher and higher. the highest level since the recession began. you will not believe what kind of debt we are accumulating. that is coming up. ♪

cheryl: what is leading the sectors as far as the s&p goes is an energy sector. also, a big story right now -- i do want to show you that gas.

over six dollars. believe it or not. little time for stocks now. looking at both family dollar and walmart. look at what is going on with family dollar. today it is up 1.8%. walmart should make a run for family dollar. family dollar would actually fill a hole in the walmart company. that pushes family dollar a little bit higher here. back to you.

why did this picture i? charles: i have been watching this company for years. they make micro- turbines. they are very similar to jet engines. the jet engine pushes out. this creates electricity. they are starting to create contacts. it is one of these names that i think if people invested in it, this could end up being a really big play for someone. i will give you an example. they took their chamber of infrastructure. they took it completely off the grid. charles: low emissions, they use

them in hospitals, manufacturing, military. last quarter they had record revenues. new orders were up. the backlog is that 160 million. we start talking about the stock. by the same time -- cheryl: it sounds like a bargain to me. >> the pace that they are on now, a year from now, this could be a three dollar stock and then a $10 stock. as opposed to a green mountain or somebody that has already made a huge move. cheryl: very interesting. charles: take a look at it. cheryl: i will. charles: uneven cost being outrageous. i think this will continue to be big. cheryl: all right. i will make some money. charles boehm. thank you very much.

things just keep getting worse for target. why it could cost billions more than originally thought. apple looking to get into healthcare with a new device. it detects heart attacks. we have a doctor coming up that is warning consumers. what you need to know before you buy. that is coming up. ♪

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cheryl: new fallout from that massive data breach at target stores. the hack attack has caused financial institutions roughly $200 million thus far. this is businesses and sectors across the world. they are scrambling to protect their networks from cyber crooks. jd, what could target tab done any differently in december? it seems to me that the way these attackers came in, really target had no way to protect themselves. >> k, cheryl. good to be on the program again.

many of us in the security industry are still trying to wrap our arms around this. if you look at what is coming out from the investigation, and there is still a lot of data to be disclosed, this is starting to come about from third-party risk. target is looking at their internal controls and best practices. then you also have to look at this concept of third-party risk in the heating and cooling contract. they use the credentials to penetrate their environment. that is really the concerning aspect of what led to the breach at this point. cheryl: banks are dealing with the financial fallout. somebody like target is dealing with their reputation. it has been drug throuuh the mud through all of this. it seems like they were a little bit slow. we are talking about 70 million customers. was it too late?

would it have done any better if target would have come out faster? >> one of the things that i have learned maybe certainly not the scope of what target has done. the more you can communicate to your constituency base or your customers and the quicker you can do that, the better you will be off when it comes to what i would call brand loyalty and maintaining brand loyalty. at the end of the day, i think that is what target is really focused on right now. cheryl: here is a question, you look at this style of attack and ms. malware program. there are profits on both ends. at the end of the day, do we have, at this moment, in this country, does anybody have the potential software available for

us to protect our banks? our retailers? there always seem to be so many steps ahead of us right now. i feel like we are losing this fight.assessment is correct. we are losing the fight. i will tell you this. no security company out there should be offering up silver bullets to protect everyone from sophisticated targeted attacks like the one we are hearing about. it is extremely important to look at risk management across the board and do everything that you can to create a defense strategy. it analyzes and thoroughly investigates the subcontractors and which your payment card networks are your normal networks. this is extremely important to ultimately reduce the risk when an event like this happens. no silver bullet persists. looking at risk management is extremely important.

cheryl: there is a 19-year-old in some dorm room writing the program as we speak that will fix all of this. jd, thank you very much. good to have you on the show. >> thank you. talk to you later. cheryl: technology companies making huge advances in medical technology. convenience could come at a cost. doctor debbie will join me. we will talk about her concerns. bracing for a wave of google earth. that is coming up in the west coast minute. be right back. ♪ ♪

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cheryl: bottom of the hour. stocks now and every 15 minutes.

we were higher by 48 points. sixty points taken off of the dow. nicole: volatility is the name of the game for 2014. we have a few movers that we are watching. panera bread came out with good numbers. we are at least gaining. potbelly, the sandwich company had a new low there. that is to the downside. down about 10%. garmin, when you think of garmin, you think gps. they are doing better with their fitness and aviation unit. we are seeing that sector to the upside. new highs. sixty-nine dollars change. close to $70 for facebook. nice revenue. back to you. cheryl: more details to come in the west coast minute.

thank you very much. time now for the fox business stock radar. brian clancy is joining me now. i want to get your sense of the overall market. volatility is the name of the game today. this is the kind of volatility that i think we will have to get used to. what do you make of all of this? >> we totally agree. we take that as -- cheryl: you are saying goodbye on the dips. let's get to this right now. i want to show, if we can, the first thing that you have. it is time warner. time warner telecom. thank you very much. let's talk about this one. the stock is a little more than $30 right now. we will take a look at the one-year chart.

>> they are investing for growth. we think that that is actually an emerging theme. this is a company that is actually, it has a very favorable outlook. they are willing to depress and invest in their business for 2014. we think to reward investors. cheryl: i am looking at a 15% gain. >> we have a three-five-year outlook. anything to enter our fund has to have a 50% total return over three-five years. that is what we are looking for. cheryl: you like the mid-cap names. let's go to dick's sporting goods. the stock is up of 6% over the last year. that sector has been a little rough. this is one piece of that puzzle that you say is a good buy.

>> we think we have a positive view on the economy. the other part is the doubling of the store count. also, the add-on of a modest sales call. you have company growing eight- 10%. cheryl: the three-year performance for dicks sporting's good. >> it is for the next three-five years. cheryl: let's talk about ford. ford motor company. this is not a mid-cap choice for you. the management. that is a big question for you. now, he is staying put. is this a big reason why you like ford? >> the common theme. investing for growth. they have a very big large product launch in 2015. that is creating the opportunity in the stock today. we reward shareholders.

cheryl: i want to compare it to general motors. does it concern you? >> no. it does not. cheryl: dipping just a little bit. brian, thank you very much. cheryl: and may feel like a heat wave in the midwest. temperatures climb above freezing. it had driven diesel prices much higher. jeff flock is in illinois with more on this one. jeff. jeff: look at the sun, cheryl. i feel like i am ready to put on my bathing suit. it feels like a heat wave. i tell you, these cold temperatures have driven up the price of heating oil and that is also diesel. take a look at the march contract. it has done nothing but crime. that means higher diesel prices

to you. >> correct. we pass it on to our customers who then turn it back to the grocery warehouses. it comes to the end-user. jeff: take a look at stocks. this is one of the reasons these prices may not even come down even when it gets warmer. in the spring when it starts to warm up, your price for diesel improves. because stocks are so low right now, that may not happen. >> who knows. jeff: the way it has been going, who knows when it will warm up. take a look at what ron has been paying for diesel. this is a quick snapshot. as back as recently as the first of the year you are paying a dollar $0.65. it is now almost four dollars. >> it gets passed on to the customer. jeff: you have a surcharge there.

cold weather. low stockk. it is warm today, that is wonderful. cheryl: it is above freezing. get the bathing suit out. exactly. jeff flock, thank you very much. time for your west coast minute. las vegas mgm reports topping target with revenue of $2.5 billion. the operator didn't report a loss per share. let's take a look at the stock right now. higher on the news of earnings coming up. mgm. health experts warning of water contamination in california with ten communities potentially running out of drinking water in the next 60 days. the california department of public health show that communities that rely on well water are especially at risk right now.

water is scheduled to be brought in via trucks. president obama announces $200 million in federal aid for the golden state a few years ago. google is planning to set up shop in the heart of san francisco. google is planning a 35,000 square-foot building to house startups if the company requires. keep the employees right there in the middle of san francisco. that is your west coast minute. call it a case f not learning. household borrowing going at prerecession levels. what is inside of you can say a lot. how your blood is fueling new technology to prevent health problems. there are some catches. we will be right back. ♪ ♪

[ male announcer ] evenore impressive than the research this man has at his disposal is how he puts it to work for his ients. morning. morning. thanks for meeting so early. on in. [ male annncer ] it's how edward jones makes sense of investing.

♪ >> i am adam shapiro. deadly clashes between police and antigovernment protesters have left dozens of people ddad, hundreds of other are injured. signet is firing zale.

the bermuda -based company says that deal will help it expand in north america. higher food prices partly offset by cheaper gas prices. that is the latest from the fox business network. giving you the power to prosper. ♪

cheryl: it is in your blood. apple is developing and i walked back and monitor blood flow and predict heart attacks. they can give wearers a false sense of security. joining me now is doctor debbie. we have had a lot of

conversations. you are saying that users could have a false sense of security. >> it can predict that. we do not have technology that can predict if you will have a heart attacks. it is not a full -- it is not what you really need. what this does is it tells you how much oxygen is in the blood. you may not be having a heart attack. there are normal situations, too. you do not want to different problems. cheryl: i would rather do that. rather have a precautionary measure than the other sense. >> that is true.

they are actually relatively okay. nothing impacting at that moment. the danger here is that a mobile phone monitor which is another product that is coming out, the technology is not quite to where it be. >> what say you are having symptoms. let's say you are having chest pain or you feel dizzy. if you're oxygen level looks okay, you may be tempted to just go with the monitor rather than call 911. there is some problem in terms of how you would react. cheryl: also, we did a story yesterday.

when that this be better, especially for men who do not want to get colonoscopies. do you think the technology is up to it? >> if you are not doing anything, if you absolutely refuse to have a colonoscopy, then it is better than that. it is not as good as a colonoscopy. if you have this test done and it looks okay and you really do have a preventable: cancer, you do not want to skip out on the treatment. cheryl: it is testing the blood. doing it at home. is that enough? >> i actually like that device.

i like the technology that they are developing. that is good, not just for diabetes, but people who are afraid of needles. four other people that need regular testing. you know, a lot of people do not have great pains. i think that technology is much more promising. i like that idea a little bit more. if all the technology could be used and then transferred over to the hospital. cheryl: communication. >> exactly. things that can help you. cheryl: if we could ensure that our medical records would be safe. >> exactly.3 [laughter] cheryl: it truly is exciting times. fingers crossed. thank you very much. >> thank you for having me. cheryl: nice to talk to you. something else is happening across this country.

natural gas actually soaring. gasoline hovering. phil flynn is standing by at the cme with more. >> when you have all this, it is incredible. we are looking at natural gas. traders facing reality. no one thought natural gas could ever get this high. you could tell it really by looking at the curb right now. the blowout between the margin april natural gas. that spread is the highest level we have seen in over ten years. what we are seeing here is that people, as they get close to expiration that have been betting on whether to bit warmer, you know, for prices to get lower, they have to get out. one major refiner that was down because of problems came back online today. that brought gasoline down. it was really leading the pack.

another reason why we are bound up on gasoline is concerned about venezuela. the imports from gasoline. uncertainty has added to the price. back to you. cheryl: net gas, a four-year high. phil, they give very much. >> thank you. cheryl: it looks like history is beginning to repeat itself. well, we hope not actually. a new report by the new york fed shows americans are borrowing at levels not seen since the recession. didn't we get into this mess because of this? a new wave of borrowing. $11.5 trillion. this quarter also shows that the first year-over-year quarterly rise hit just before, since the recession, excuse me. americans borrowing a lot.

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cheryl: any of you guys out there thinking about popping the question to your girlfriend? if you do not know where to find

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we remain committed at the selection of brands in the apparel in our stores. coming up in the next hour of markets now, is this a job killer? first obamacare, now a minimum wage hike is on the table. more on how many jobs the congressional budget office says the president tends to plant will cost united states. tesla shares actually spluttering today. the analyst call ahead of the fourth-quarter earnings report. we will have the very latest situation that is happening over in ukraine. russia is delaying a $2 billion credit line. protesters crash with police. we will be right back. ♪ money do you think you'll need when you retire? then we gave each person a ribbon

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routine sandra smith. violence in the ukraine escalating to a new level. 2 dozen are now dead in the fighting between anti-government protesters and police who clear independent square in kiev. the latest on the tug of war between russia and the west. ashley: double lanny for the president. the second time in two week the congressional budget office says the president's policies are costing jobs. first obamacare, now minimum-wage. sandra: shares taking a hit today but stocks up 30% so far this year. the carmakers signaling strong sales, but will this stock price hold up? analyst call from james alberttina, fourth quarter results out of "after the bell". ashley: part 3 of dr. tech series, the medical fight that will save your bad knees.

what separates them from all the other black pants on the market? sandra: let's head to the floor of the stock exchange where % nicole petallides is standing by, the dow has been on our roller-coaster ride. we started down, up, now down again. picole: we crossed the unchanged line over and over again, the dow is down 29 points, a loss of 0.1%. diaz in the end nasdaq in negative territory. nasdaq has been the worst of the three down nearly 1/2%. take it in nasdaq, the technology under some pressure to date but overall we have seen two straight weeks of gains for the dow, well above 16,000 once again. we have some more timely things happening, waiting and fed

minutes. approaching $70. don't forget when we saw this ideal it blocked below $20 in 2012 and here it is, $68.99, $69 even. not far off a session highs and highs earlier today. ashley: a news alert. the story we have been closely following since it all began in november. violent protests rage in the ukraine's capital of kiev with the death toll rising to 25 including 10 police officers. the violence began when security forces made an effort to remove those protesters from independence square. riot police, armored vehicles dismantling barricades and stun grenades, rubber bullets, ukrainian protesters resisted those advances, launching molotov cocktails in response. unrest has also broken out we

should point out elsewhere. continues to spread in the european union and the white house threatened to impose heavy sanctions for those responsible for the bloodshed and the ukrainian government sources for the delivery of the $2 billion russian aid package has been delayed due to what they are saying, technical reasons. protests turning deadly in venezuela, four people i did as venezuela's president is facing the largest protests since he took office less than a year ago. could the unrest in venezuela have an impact on oil prices? let's bring in fox business computer phil flynn for the price futures group and the cme. what do you say? >> i say yes. i think it already is. let me tell you why. a lot offtimes when you get cold weather and tightness of supplies into an inventory report. you get people to step in front

of its, and they are not going to do that with the increase in geopolitical rest. the u.s. does not count on venezuelan imports as much as we did five years ago, they still are in a critical component of u.s. oil imports, almost 9,000 barrels per day. on top of that, we import a lot of gasoline components from venezuela. that helps with u.s. gasoline prices but not just venezuela. if you look at global energy prices, you look at the situation in the ukraine, that could be adding two prices as well. not that ukraine produces a lot of oil but it is a major transportation hub especiallyr the e.u.. in the past when we have seen the situation in that part of the world blowup we have seen prices go up dramatically. there's a lot at stake not only for the u.s. but the e.u. cat. add to that cold weather come on, it keeps coming. the weather is getting colder, heating oil is on a tear today.

back to you. ashley: come on, what ever happened to spring? sandra: oil to bold, precious-metals, earlier losses after an unexpected drop in january housing starts but still on track to snap a 9 day winning streak as bad economic data continues to roll in. peter schiff says bring it on. bullish for gold from here. i know that you tend to be a gold bug, and why specifically are you hot on the medal after it was quite frankly a loser last year? >> it was down one year out of 13. gold can't go up every year but is last year too many people were operating under the delusion that the u.s. economy was recovering, that the fed policy had worked, they were

ready to wind down the q e. in 2014, people are going to wake up from that delusion. we are geeting a lot of bad economic data, people are still delusional because they want to blame it on the weather but it is not the weather. as the weather warms up we will run out of excuses, people will realize how weak the economy is that the fed is getting ready to crank up the q e, not wind it down and -- the u.s. economy will rush to buy gold. sandra: bring it to now. i aim to challenge you on this because i think we need to show the other side of this trade that gold is down today and may be snapping the 90 winning streak because we are waiting on the fed minutes at the top of the next hour. isn't the trade here the reason gold is down $5 heading into the minutes? isn't it down because we have got a weak economic data and that may lead to the fed lowering its tapering and that could strengthen the u.s. dollar

and lead to us sell-off in gold. >> got it backwards. if the fed slows down the taper, that is bearish for the dollar and bullish for gold. you don't have to explain the $5 decline in the price of gold after nine consecutive updates. it is barely down. markets don't go every single day. doesn't have to be an explanation. the days and even over yet. where is gold going to be? >> people are interested in gold at these levels. and $1,900 of troy ounce, we're talking about gold on sale at $1,300? >> it is on sale. going to lot higher than $1,900. that is the recent high. this bull market has been going on long time and it has a long way to run hanks to the policies we are pursuing in the united states. now that you have janet yellen

as the fed chairman, will be more bullish for gold from ben bernanke and alan greenspan and gold did very well under those fed chairman. the biggest coal is -- sandra: i will challenge you again because everyone is interested in talking gold. most financial advisers do recommend we keep gold in the portfolio. and -- make me understand -- is there anything that could happen that would prevent you from holding or buying or accumulating more bowls? what would happen? what could the fed to? what would happen in the economy that would send gold prices down? >> the fed did the right thing for a change which i don't think is going to happen. if they stop the q e, if they raise interest rates and let the stock market tanked, but the real-estate market go down, led a natural recession run its

course, force the u.s. government to dramatically cut spending and restore fiscal balance to the u.s. economy to allow legitimate recovery to every take place than i would get bearish on gold. as long as the government keeps doing the wrong thing, stimulating consumption and that and inflating asset bubbles i am going to keep buying gold. sandra: we have to leave it there. i have to leave it. on twitter now and following you, we have to leave it there. in one word, where gold prices are going from here? >> higher. sandra: thanks. no price? okay. thank you very much. >> a lot higher. sandra: we will be tracking you. >> gold battle. ashley: talking of battles, buffering battle going on netflix spinning its wheels as broadband providers slow traffic

for its users. sandra: two diamond sellers getting engage to. the stock reaction next. ashley: the minimum wage hike, job killer, the number of jobs at risk, the federal minimum wage raised to $10.10 per hour. call from the nonpartisan congressional budget office. we will be right back. so ally bank has a raise your rate cd that wothat's correct.aate. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too.

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sandra: shares of zale hitting a record high, signet has agreed to buy smaller rivals dale. the all cash deal values zale and $1.4 billion. it will become the division, the author of $21 a share representing a premium of 41% to zale's close in the stock exchange yesterday and there you have an up 40%. ashley: moving up nicely. democrats and republicans are battling over the congressional budget office report that says the president's federal minimum-wage hike plan would be a job killer. rich edson live from the white house with more on this. sandra: the cbo has gotten some attention last couple weeks

especially with the latest report coming out yesterday saying the white house's proposal to raise the minimum wage to $10.10 an hour would cause 500,000 job losses. the white house basically is calling that portion of the report and out wire report. this is a white house blog post saying these estimates did not reflect the overall consensus view of the economists that raising the minimum wage has little or no negative effect on employment. the congressional budget office director addressed that point. >> another place one might look is to the letter signed by 700 economists advocating increase in the minimum-wage. that is not a random sample of the economists. that was a set of economists to raise the minimum wage. >> the white house has been asked to defend why they embracing points of what the congressional budget office had to say on a number of different issues. the president himself and others in the administration replaced

the cbo when it and -- as republicans. the white house says they simply will accept that they will respeccfully disagree with the congressional budget office on this particular point. ashley: all right, rich edson and the white house. sandra: nicole petallides on the floor of the stock exchange watching garment. nicole: take a look at a lot of movers on wall street. take a look at garment, garment limited up 10% at the moment. also earlier highs of the day did actually it a new high of $52.72. back to early 2012. you think of gps and the like, that has been something they are known for but that wasn't the strength in the latest numbers, it was actually fitness and aviation equipment made by common that halted do so well in the last quarter. here is a 1-year chart that shows that it is a 1-year high going back to early 2012.

back in 2007 around $51 now. back in 2007 the stock was $120 so you have been hoping for the long-term you are disappointed but in the near term pretty happy about it. ashley: that music means it is time to make money with charles payne. he is here with the story of reinvention. charles: garment, you think no one has got this and all of a sudden maybe they needed gps and other things, same thing with what the tech. a few months ago someone in my office said we should do a lot the tech. i you nuts? there's a rumor apple may buy it. in my mind there's that dusty stuff sitting on the shelf at staples that no one ever bought. the company has reinvented itself. last quarter, let me tell you how greatly they reinvented themselves. you see those things, tablets of 90%, audio wheee rebels of a

79%, pc gaming stock up 25% so the keyboard business is flat. mouse business is going down the tubes but other things coming up fed doing very well. it is nice stuff. sandra: that night spike in the chart. charles: stocks make huge move on earnings. the last four quarters back to the march quarter of last year, reported earnings miss the street by 360%. okay? they will do big but started turning around. they beat by 270% by 230% and last quarter by 94% operating margins, 10.7% from 6.7%. these guys have gotten their act together and have opportunities and smart phones, what they called a digital home, remote-control, video security, company has reinvented itself and by the way, 2007, this was $36 stock and hit a low this

year of $6. at the very least it will rally a to 20 and could still break out north of $20 and the apple rumors lingering too. it makes a little more sense though i still don't -- if i was apple i would buy tesla before large attack. sandra: breaking news. president obama arriving in mexico just moments ago for the north american summit. the president set to meet with mexico's president and prime -- canadian prime minister discuss a number of issues including the keystone pipeline, immigration reform and border security. oil will be part of that conversation. lookout some bureaus and villains, obamacare might be the next plot line in an upcoming blockbuster film, the push to get health care on the big screen ahead. ashley: first will tesla earnings in electrify investors?

why tesla investors should turn their enthusiasm ahead of the automaker's fourth quarter results coming up today "after the bell". ♪

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ashley: shares of tesla lower after the fourth quarter earnings report the day and 10. james sylvio berlusconni is that specialist from stephen nicholas. you raise your earnings estimate above the wall street consensus but also cautioning investors long term. >> it is a great luxury manufacturing automotive manufacturing company but long story short there are a lot of obstacles ahead and add significantly high valuation trading $200, doesn't take into account the full severity of those obstacles and thinks that fair game that lower-priced points are a foregone conclusion which we don't believe there's any evidence to suggest that. sandra: i wonder how much you look at the global environment particularly at a time when we are concerned about emerging markets, china's recent economic numbers indicated stabilization but they slowed down a bit. their growth isn't as strong.

is that playing into your cautious outlook? >> not as much as 6 constraints for the batteries and ability to scale the production line in place. they go from 600 units a week where they are currently running. some of the estimates imply for 2014 little on 2015-16 expectations. list macro, more about the story and scaleability of the story. ashley: with all this talk of apple taking a look at tesla, the pickup met last year, spring of last year. maybe not apple running test but apple providing some of the technology inside a tesla vehicle. would that makk more sense? >> i think it would bet that is a very different equation than was implied yesterday. separately of all the tech companies google is the most involved in autos. i'm surprised we are not hearing

more about their extension of the driverless technology they have in the vehicle space so again. at $175 a share, priced for perfection, for the super natural. i simply don't think it is supportable. sandra: what needs to happen "after the bell" tonight as far as earnings? if they are able to match expectations, i use a we could see a sell-off because the share price is where it is? >> it is hard to say around earnings especially when you have a week like we had where there are unfounded expectations embedded in the share price. people are looking for a 2014 outlook, guidance around unit sales, gross profit and asia. an idea in the ether that doesn't drive shares necessarily of of the earnings report. those are the elements we are most concerned about at this

point. ashley: it will be hard for this company to top what happened in 2013. elon musk, the company has all. what are they going to do this year to provide more substance, a lot of what is based on hopes for the future? >> great question. they would be better served to show some stability and some prudence in how they scaled their growth. we would have a more positive view, elevated valuation levels if they were to say we will be a niche. remanufacturing company. that commands a different operating margin profile than a company that wants to get into high-volume, sub 50, sub $40,000 price that the units. color again, they would be better served to lay the framework for a steadier ramp the than this word of spike that was intimated the last few

years. sandra: we have big earnings "after the bell" the we will be watching. ashley: thanks for joining us and keep it right here on fox business for complete coverage of tesla's earnings. liz claman and david asman will have the news as it breaks the 4:00 eastern. sandra: and g stocks leading the s&p, oil and gas companies all up like trans ocean and diamond offshore drilling seeing some solid gains as well. we had some huge moved, natural gas helping drive gains of energy companies, natural gas biking to the highest level we have seen in five years. all the chilly weather, cold forecast, snow fuelling worries about tight supplies, turning up our thermostats driving up those prices. helping out some of those stocks. the emily post guide to wearing google glass. the user guide on etiquette. we all need some tips on how to

not be at a glass hole. their words, not ours. i am using that one. ashley: you said it. when being a ski bum gives you a bum knee. our next guest has a high-tech fix. there's always a high-tech medical tight but these are no ordinary types. the store is coming. rob: we will look at who is up or down. ♪

♪ ♪ ♪

[ tirescech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. t the most extensive charting wherever you are with the mobile trader app from td ameritrade. wherever you are with the mobile trader app ♪ see what's new at projectluna.com sandra: time now for stocks. as we do every 15 minutes let's

new york stock exchange where our own nicole petallides is standing by watching steel makers. >> i am indeed. steel-makers have tough competition here, getting ousted here in a court ruling decision and that's the question. u.s. steel is down almost 7% of the you can look at -- that is down five 1/2%. u.s..steel was claiming that over in south korea that they are selling tubing here in the u.s. below cost. now the department of commerce rejected that claim from u.s. steel and there are tariffs imposed on these tubular goods from other countries including taiwan, thailand, turkey, ukraine but not on south korea. that really could impose competition on our steel-makers here at home. that's why you're seeing u.s. steel falling the most in 17 months. that is a big drop for u.s. steel today. ashley: certainly is. nicole, thank you very much. forget those awkward and unwieldy knee braces. all you need is a pair of high-tech tights.

a company called opedics is banking on newly designed tights and shorts maintaining active lifestyle while recovering from painful joint injuries. we have the brian cousins, vice president of business development. he joins us from beautiful denver. we're talking about ski bums and their injuries. i'm sure you see your fair share in colorado. let's get right down to this. this device and this type, and i know you do shorts as well, we'll get that to a minute but they provide alternative to the horrible nee braces but how can fabric provide the same kind of support? >> it is, the way that the tights work, ashley, is that there is we talk about mechanical support and three parts neuromuscular. there is mechanical support provided by fabric and non-stretch banding goes down around the knee up to the hip. it is about improving the neuromuscular function and sensory input so we're working through the muscles and soft

tissue to help with joint alignment and improving moving patterns as opposed to relying purely on mechanical support like a brace would. ashley: how long did it take to come up with type of material? you face a lost competition out there. what sets you aside with this particular product? >> well the initial idea, was conceived back in 2004 at steadman-hawkins research foundation and over the course of a number of years the product technology has been refined, fabrication, sourcing, fit, et cetera and so it has been quite a long process. a lot of research and development that's gone into it and initially the thinking was, how could we put a support mechanism, a banding system, mechanical support into a tight and what we have learned over time as i said earlier that the sensory input and neuromuscular function that, feedback that

your body receives is really what is most important. so that is the single biggest thing that diffentiates our technology from other products on the market. we do use a form-fitting base layer to help deliver the technology which often times lead as lot of people to believe it is a compression technology. it is not. it is really about the banding technology you see wrapping around the knee and moving up to the hip and similarly in the shorts. ashley: right. >> that is not only providing the mechanical support but really working through propoception which allows the body to align with soft tissue, helps with joint alignment and improves muscle fatigue and improves performance. >> you put out these shorts. i said earlier they help restore the natural alignment of pelvis. i think the shorts retail 165 bucks. the tights come in at 225. you know, how has business been? >> business has been great.

you know the company has really kind of, we're really, i would say in a classic startup mode. i've been on board with the company for about a year and when we look at revenues 2013, fourth quarter revenues compared to 2012 we grew the business over 300% and so far this year in 2014, sales are up over 450% over last year and i think that just proves that, you know, when i came on board with the company my theory was this is one ever the best kept secrets out there and as we've started to get technology out and expose people to the brand, clearly demonstrates that there's a large demand out there. ashley: well, we wish you continued success. brian cousins in denver, thanks so much for joining us. >> thank you, ashley. ashley: and by the way coming up tomorrow it is called fracture putty and it could speed up the healing process of broken bones. steve, researcher at university

of georgia. he will tell us how it could change traditional methods of treatment. they use the putty to fill in the cracks as they say. sandra: real trouble with the trouble with the curve. the lawsuit who wrote the script for the warner brothers 2012 film is getting personal. ashley: charlie gasparino is here with exclusive studios and its high-profile studio are attacking expert in the case, one you may recognize from the 2003 case of against martha stewart. charlie is up next. that makes it real? what's a vision without the expertisise to execute it... and the financing to make it grow? whatever your goal, it can change more than your business. whatever your goal, it can change e future.

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sharing's never been better for business. ♪ ashley: time now for this hour's fox business brief. china is accusing qualcomm of overcharge and and abusing its market position. the allegations made by the country's antimonopoly regulator could lead to fines of the u.s. chipmaker of more than one billion dollars. the cost of producing good and services in the u.s. increased slightly last month. the january producer price index which tracks prices before they reach consumers rose .2 of 1% in december with higher food prices partly offset by cheaper gas. general electric is suing the irs to recover $658 million in taxes and interest it doesn't think it should have paid. ge says it was entitled to $2.2 billion of capital losses from its 2003 sale of its struggling erc reinsurance

business but the irs disallowed those losses. that is very latest from the fox business, giving you the power to prosper.

sandra: the lawsuit over who wrote the script for the warner brothers 2012 film, "trouble with the curve." is getting personal. the studio is attacking the credibility of an expert in the case. charlie gasparino is here. >> great movie. did you guys see it. ashley: yeah i did. >> clint eastwood, amy adams. what i found interesting about the lawsuit not just you know what match between two sides, warner brothers and independent producer, warner brothers he says essentially ripped him off. he has the evidence. the evidence is compiled by the expert in the case. the expert in the case is interesting, larry stewart. where does that come from? larry stewart was the ink expert made a lot of head lines in the martha stewart insider

obstruction of justice case 10 years ago. ashley: yeah. >> here is the interesting thing. this is why larry stewart is so mad. from what he understand he told the fox business network exclusive he is thinking about suing daniel petrocelli and warner brothers for liable. he is a high-profile attorney for warner brothers. they put in court document that is larry stewart was indicted for perjure arery in the trial, which he was. what they left out of court documents, that larry stewart was exonerated. ashley: it is a smear. >> so they're trying to smear him. this is startings to reach, we should point out this is hollywood trade press. some reporting on this. the stewart interview that i had is exclusive. he has yet to speak out. he is now telling the fox business network exclusively he is thinking over the whole thing, thinking of suing daniel petrocelli an warner brothers for liable.

libel. it interesting movie. blockbuster hit. amy adams. clint eastwood is in it. r however thoughtth would turn into a lawsuit involving lie belle and daniel petrocelli. one thing about larry stewart, if you look at his evidence, what he is saying is this. the original script that warner brothers says it has, right, the original script was written back in 199, according to warner brothers. what he is saying, this guy was former secret service ink expert and forensic examiner, he is saying no way that that could be written in the time that warner brothers says it was written in the early 1990s. ashley: why? >> based on his analysis of the ink and various, and various parts and other documents. so what he is essentially is saying that there is no way the script -- ashley: been around that long? >> been around that long. it had to come from this other script from a production in brooklyn who he is working for.

that is where we are right now. be interesting to see if this case, what happens with the case itself. be interesting to see what larry stewart was, he was indicted for perjury. that is huge part of the martha stewart case, i remember when it went down. he was also exonerated, that thh jury found him not guilty. sandra: there this was blockbuster hit and millions of dollars in repercussions. >> huge. warner brothers says the suit is baseless. it would not comment on stewart's claim of libel. mr. petrocelli we have calls out for him. when they get back to me i will update. that is where the story is. ashley: he clearly believes there is strong case for warner because he is expert for them? >> he clearly believes, he hasn't filed the libel suit yet. he clearly believes warner brothers document that is they submitted or are fraudulent. therefore that is, the support. ashley: so they turned around and attack his credibility? >> that is what he is saying

being smeared based on science. sandra: why would a large company take the risk because don't you think you would be caught eventually? >> factually he was indicted for perjury -- but to leave out -- i've been through a lot of legal edits in my career writing books. when you leave out exonerating stuff you could have a problem with that. sandra: justin timberlake had a role in that movie. >> was an agent, ballplayer agent. sandra: love interest. >> love interest of amy adams. ashley: this is not uncommon in hollywood. always someone claims they ripped them off from a script that turned into blockbuster. >> i wouldn't have done it, the story if it was a ripoff. i thought larry stewart was interesting because he was in the martha stewart case. i also thought his climb he has been libeled. that gave me the interesting, and if you look at totality what happened with him he was found not guilty. they brought up that -- ashley: the let's of the story. >> that is the rest of the

story. sandra: cheaters never win. thank you, charlie gasparino. ashley: nice haircut, charlie. sandra: it's a good haircut. >> black & decker. ashley: black & decker gets the credit. stocks are trading sideways with 15 minutes until we hear the latest from the fed. the dow is up a whopping -- sandra: fraction of a percent. ashley: fraction of a percent. thank you. we are hitting the smogs for what traders are looking for in the latest fomc means released at top of the hour. sandra: just how many lies can you tell in 140 characters? the new twitter truth detector separating facts from fiction, just in time to keep me honest as i join twitter. in the new n we don't bacdown. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new yk state. ve here. expand here. or start a new business here... and pay no taxes for 10 years.

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ashley: time now for your tech minute. a standoff is creating a

slowdown. netflix subscribers are waiting longer for video content to load as the company fights with verizon and other broadband providers. the issue, just how much of netflix's streaming content will carry the company's without being paid additional fees to those carrying companies. the slowdown comes just as netflix emmy-award-winning series "house of cards" new season is about to rollout. shares of netflix are up over 122% in the last year but today down about half a percent. rules of conduct. google putting out a list of rules for those that wear their google glass. they should refer to it as explorers. the to explore the rules around you. take advantage of voice command. is for permission when recording things and use screen lock to password protect the device. now for the don'ts. don't use high impact sports and bull riding an cage fighting are discouraged. there goes sandra's weekend.

don't glass out. they are made for short pieces of information. spend too much time reading things looks like you're staring at people. which brings to the last road. don't be creepy. that is good for anything. known as a glasshole. they are developing a lie detector for tweets name ad of the greek mythological figure for scandallous rumor. it will classify rumors into four types, speculation, controversy, misinformation and diss information. and it will sources giving more wait to established news outlets and experts and look for bot, computer programs designed to send spam. that is the latest from tech minute, sandra. sandra: thank you, ashley. as we do every 15 minutes let's talk with mark newton from the new york city. we're eight 1/2 minutes away from the latest fed meeting. what is the feeling on the floor

ahead of that? >> it's a market fraught with indecision and lack of a catalyst. everybody expects out of minutes we'll hear continued support for measured tapering. everybody is in agreement about that. the real question with regard to the qualitative measures and quantitative. will they do anything about unemployment threshold. some people favor that. some people want to reduce it. those are probably things they will key in on. for now stocks are pretty much unchanged. they tried to take them both higher and lower today. really the sectors leading are the same ones that led all year, that being materials, utilities an really a good move out of energy which coincided with bigger mooes we've seen in wti crude and nat-gas over last few weeks. sandra: all right, mark newton, thank you so much. >> thank you. >> and stick with us. we are less than 10 minutes away from those fomc minutes, minutes from the latest fed meeting. could be a mover for the stock market, bond market, gold. keep it here on fox business for live coverage. what do magic johnson,

richard simmons, adam levine all have in common? not the beginning of a joke. these are a few of the stars pushing the affordable care act in commercials, ashley. ashley: soon obamacare may have a starring role on the big screen as well. details are next. [ male announr ] how can power consumption in china,

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ashley: hollywood going hooray for health care? obamacare could come to future must-see tv and big screen projects. foxbusiness.com's kate rogers is here with this story. what is going on, kate. >> obamacare is major plot line in upcoming blockbuster this summer seems farfetched but the writers guild held a forum an panelas night t was closed doors, for members only but their executive director told me they would discuss some intricacies of the affordable care act and they're telling them how they can potentially

portray it in comedy, drama and even reality tv. ashley: in a positive way? is this an effort to sell obamacare? >> well i asked him that because of course hollywood is known for its liberalism and every time a big star says they're conservative make as whole big splash. i said will this be a big love-fest and propaganda for obamacare. we know they have been enlisted magic johnson, richard simpsons and more recently during the valentine's day holiday celebrities like mindy kaleying to get the get covered campaign. celebrities are on the side of obamacare but not clear whether or not these storylines will be positive or negative. sandra: i wonder if it will be harder and harder? you're commenting how liberal hollywood with recent reports talking about, you know, obviously pointing out that obamacare is going to be a job killer and things like that, do you think there will be some sort of refusal from hollywood? >> i'm not really sure. i don't think hollywood is getting less liberal anytime soon. with that being said the wga

executive director told me their members are very independent-minded. i'm looking out my window now. this is no palm trees and this is new york city. our writers are independent-minded and they won't be swayed into weaving plot lines into upcoming projects. ashley: is this unusual or is this pretty typical? other than health care, have other issues been discussed like this. >> absolutely. when i first read about this, i thought it was odd. when i posed the question to the wga, they said they have several forums a year. three or four forums on big hot button talker issues. they have had them on homeland security, drones and things like that. sandra: i don't know about you i don't like politics pushed in my face when i go to be epter taken ad the a movie theater. >> i agree. the these celebrities they pushed in get covered campaign. they're trying to get attention of young people and as we see pro enrollment numbers it is not working. 25% of three million or so enrollees are -- ashley: one thing to have

personality to come on air to do a public service announcement for the program, but to contain it in the program almost like product placement. it is subhimnal thing. so is that what is going on here? >> not quite sure. we have to see if it is more of a comedy or drama, obamacare, in the future, that's right. depend who you ask. ashley: interesting stuff. story on the web too. sandra: adam shapiro he is here to take us through the next hour on fox business. adam? >> sandra, you know what happens in the next what, minute 1/2? go determine whether your kids go to college. that is pit of hyperbole. you have to pay attention. we have your the coverage of the markets. dow is down roughly 7 points. s&p is down two points. you have the nasdaq down roughly

16 points. all of this, building up to the fomc minutes. the analysts will gesticulate. the economist will bloviate, investors will speculate, but peter barnes articulate what it means to your money. peter? >> adam, without a big change in its economic outlook the fed plans to keep the taper on track. that is the big headline from the minutes of the fed's last policy meeting. that was ben bernanke's last meeting as chairman by the way. at the end of january when the fed voted to keep tapering its billions of dollars of monthly quantitative easing bond, bond purchases. the minutes say that several participants argued, quote, in the absence of an appreciable change in the economic outlook there should be a clear presumption in favor of continuing to reduce the pace of purchases. fed members also talked about changing their other main policy tool, their forward guidance on the likely direction of interest rates. they hav