tv MONEY With Melissa Francis FOX Business January 8, 2015 2:00pm-3:01pm EST
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dierdre: "money" starts now. melissa: french police in masks and riot gear scouring the country for two brothers in suspected attack in paris as isis warns there are still more to come. doubling down on failed housing policies. president obama in phoenix touting a new plan to promote homeownership. it is looking awful lot like what got us into the mess in the first place. happiest place on earth making some families unhappy. a measels scare at disneyland in california. dangerous weather making it dangerous to be outside in nearly 90% of the country. even when they say it's not it is always about money. melissa: markets in rally mode today. all three major averages entering into positive territory for 2015. look at that rally, just a few point away here.
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where the climb is reversing what was the worst start to the year. you could just go ahead and scroll up there. comments from central bank officials, both stateside and abroad on supporting the economy fueling this. also calming fears out there, oil stablizing today around $48 a barrel. here with me now charlie gasparino, fox business's senior correspondent, david asman is here as well co-host of "after the bell." we have matt welch co-host of "the independents." thanks to all three of us joining us. charlie, you just slipped in here. talk about the markets first. i know you have breaking news. >> i should point out it was up 300 points just a few moments ago, and you blink it is now up only 250, 260 let me say this. i think second half of fed minutes yesterday peter barnes presented us with where the fed was very cautious about the global economy and basically said if we have to, we would love to do this, if you read between the lines we'll keep interest rates where they are and print money, forever. >> forever. the market loves that.
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decouple the economy which i think economy is not doing that great, with the markets of the markets love low interest rates, low inflation. and a modestly growing economy or crumbling -- melissa: this chart we're looking at screen making a big difference. crude oil there trading lower. >> perfect example to yesterday and today, perfect examples of what charlie is talking about. decoupling the market from economic realities on the ground. crude going below 4. you have a terrorist attack the most deadliest terrorist attack we've seen in the civilized part of the world for quite a while indications that it may be slipping over here into the united states and market is still regained all of its losses from the previous three days. there is a danger here. i understand you don't fight the fed. anthony scaramucci said here and elsewhere was going to happen. he predicted it the fed would be easy and the market would jump as a result but how long can it
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go on? i don't know. melissa: market keeping a close eye, if you look at crude oil trade, we're looking at brent that trades over in london, dipped below 50 bucks. >> wow. melissa: dropped off a cliff in the past few minutes even though stocks are still up 270. as you point out, charlie we're off the highs of the session. >> 270 is not bad. melissa: if you're long the market it is gap fantastic. >> shows how crazy the market is. melissa: i'm pointing out, crude oil, we thought, people wondering where the floor was there. we thought we put one n we're dipping again. other big story of the day still on the run. police are closing in on a favor brothers the chief suspects in the deadly paris attacks. armored vehicles and helicopters swarm aghast station north of paris today after a clerk reported he was robbed by two masked gunmen fitting their description. isis praising the attack and warning there is more to come. a leader saying quote, the lions islam have avenged our prophet. these are our lions. it is the first to drop.
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more will follow. matt? >> this is the exercising of a fatwa. the biggest target in the world that we basically seen since salman rushdie was "charlie hebdo." they have been thumbing their nose at all kinds of targets. melissa: everyone. >> not just islamists out there. so, that is what we should understand this but at the same time there is also an increase of "allahu akbar!" kind of violence spore raddic sort of lone wolf violence happening in france and a legitimate concern among a lot of western governments especially in immigration-rich countries like france some of these people are being trained and come back. >> you know what "the new york times" is wore i had about? a backlash against muslims. that's what they're writing about on the front page today. the biggest danger dangerous moment for european society its. not because europeans are being slaughtered by jihadists but there will aback lash. since 2001 we keep hearing about a backlash. that is what "the new york times" is worried about. >> what is the appropriate possible policy response to?
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this has to be open borders policy which europe adopted in ways much greater than the u.s. has to be rethought. i mean the bottom line is this. there are, thousands and thousands and maybe millions of immigrants coming from other countries, mainly these sort of arabic countries where they're flooding into europe. they are not a simulating. when they don't a simulate you get stuff like this -- melissa: i don't know the border is answer. >> really? melissa: sharing of intelligence. sharing of intelligence. can't keep everyone out of everywhere. >> have you been to europe lately? melissa: yes. >> you should know there are huge parked communities of people from other country. >> they have their own law, economy and their own banks and charlie, they have their own islamic banks. they are essentially ghettowise communities completely independent. >> that ghettoization is not just of communities themselves. also done by policy france has
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done a very bad job of a simulating immigrants unlike the united states. >> how do you a simulate sort of massive flow of immigrants? >> michigan, how did they do it in dearborn? >> we've done it in dearborn? i would say dear bonn is not the best example of us a simulating populations of immigrants. i would say this the united states always a simulated populations of immigrants. my great grandparents became a simulated only because there was not constant influx of italian immigrants. melissa. president obama in arizona, announcing another executive action on housing. unveiling rate cuts on fha loans saying they will promote homeownership. >> over the next three years these lower premiums will givendreds of thousands of, more families the chance to own their own home. melissa: yeah. no, no we didn't say that exactly right. what they're doing they're cutting insurance premiums on your mortgage insurance which is
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very interesting to me, to make it more affordable. this is backstop when people default on their mortgage, is the insurance. >> these are price controls. another attempt we government to set prices, to set prices in the market and it has failed time and again. every time the government whether setting price controls on bank fees, on interest rates or on salaries it doesn't work. it is that simple. >> didn't take the opportunity of the housing crisis to ask ourselves, in the hell are we doing having the federal government be default backstop of all mortgages? doesn't make sense of the it is unnecessary. it creates bubbles and really bad kind of sense of risk-taking out there. we're getting back into it now. people are buying houses with very little money down. they're promoting this kind of homeownership. it is terrible idea. >> i yeah. there is never one reason why we had a financial crisis in 2008. i think there are many things going on. greed obviously played a role but the government played a huge role. fannie and freddie the easy way
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to give everybody with a heart beat, you didn't need a job at some point to get a loan was fueled, not kind of basically fueled by fannie and freddie. melissa: here they go doing it again. this is one of the biggest stories of the day. herbalife is ready to fight back as activist bill ackman is postponing a meeting with the firm so he can go on tv to bash the company some more. charlie gasparino has more. >> i never heard of a company open to a short seller particularly a short seller that says the company is a fraud and should go down to zero. they said, herbalife hey, bill we'll finally meet with you at last minute. bill said it maybe was not the last minute. he it was last hour. he cancels. goes on couple other networks attacks the company. stock gets hit right before he gross on tv. they are planning some sort of a counterattack i want that counter attack would be i can't tell you. melissa: what could it be? >> people at herbalife are
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intimating about stock manipulation and clearly there will be a an attack. >> are they desperate, charlie? do you sense desperation from herbalife? >> i don't but that doesn't mean they're not desperate. i covered story whether bill ackman or shorts i cover like baseball, i don't care who inches with. i like drama that played out. melissa: that is true of you on all stories. charlie lives for the drama. he doesn't have a dog in the fight. >> i hate both side equally in some respects. melissa: right. >> i will say this. i never seen a company attacked by a short circle not just short seller wants to put it out of business a fraud, pyramid or worse than madoff or like madoff. willing to sit down with the guy. the guy cancels and cancels and goes on tv and attacks them. the stocks is crushed. last week, herbalife shares settled at $29. they're up again. they're planning a response.
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i know they might talk about suing him. that has been talked internally. they will do a massive stock buyback and they will do something and coming relatively soon what i understand. melissa: another important story the groundhog will see his shadow but not see mayor de blasio. the a year after the mayor slipped from the from his grasp. he died. the one that died was staten island chuck. i don't know if bill give as chuck about chuck. he died after he dropped him on the ground. there was -- he died from the trauma. >> are you trying to blame a groundhog dying a year later on the mayor? melissa: there is evidence. >> this will piss the new york liberals more than if the murder rate goes up. >> that is what is so stupid. melissa: he was man of the year. peta's mane of the year, murdered staten island chuck.
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murdered him. >> it was over for de blasio a week or two after he was sworn in when he went to the mets game and threw out the first pitch. melissa: threw out a groundhog instead after ball. >> winning by 50 percentage points he got booed. >> you know why? most people at mets game are from long island and they hate him. >> i will say this, there is lot of things to despise comrade bill de blasio about. melissa: killing a groundhog so not one of them? >> that will piss new york liberals. more than what you and i care about. melissa: it will be the horse carriage. >> whenever he cracks down -- >> horse carriage. melissa: all the problems are around animals right now. >> horse carriages are still going. melissa: they are. he promised -- >> one thing about comrade bill de blasio. he said he hasn't smoked pot since he was at nyu. >> maybe he should. melissa: all right, guys, thank you so much. two days and three veto threats later is this bipartisanship we were promised? it is going to be a long year
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heritage foundation. he is a fox news contributor. david and matt are back as well. steve moore, i mean three vetoes in two days? come on. >> yeah this would certainly poison the well and this whole idea of, you know friendship and kumbayah between the two parties. obama is really splashed cold water on that. now look he hasn't said definitely he will veto these bills. in fact he said something on keystone pipeline i would veto it in its current form. maybe there is a little bit of an al live branch there. i would say if he veto obamacare reforms and keystone, this basically blows up any chance of biart sawnship for rest of the year. melissa: let me play what john boehner had to say. i will get your reaction the other side. let's listen. >> we have a president at a minimum he could have waited a few hours. maybe could have wait ad few days. we weren't even, we were taking our oath of office they were issuing veto threats. come on! melissa: i mean a few hours, a
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little something. david asman. >> well, first of all, yesterday, i guess it was yesterday or the day before was the day that his press secretary announced he would veto the pipeline thing. that was the same day u.s. steel announced they would lay off 750 workers because of steel pipes not being built because of price of oil. is like insult to injury. timing is everything. he looks like he is actively killing jobs by being against the pipeline. melissa: does he look like that. >> he might. i want to stick up for well poisoning here for a second. we had far too few vetoes in the 21st century. >> agree with that. >> george w. bush vetoed almost nothing until the end. and barack obama as well. >> you know who did the most? gerry ford. little period when he was president. >> grover cleveland was a big veto guy. >> there is a lot of things. i wish he would vetoed extension of insurance bailouts for terrorism attacks corporate
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welfare piece of lint that they passed the other day. vetoes are good. heightens the contradiction and gop can say, and try to make the popular case for a bill and obama might find himself on the wrong side of that. that is how you do politics. melissa: go ahead, steve. >> big point here is the one david just made. here you got let's face it, the last six years the oil and gas industry carried the rest of the economy on its back. it is victim of its own success. reductions and layoffs and so on. think what happened the last week. first president puts out six new regulations aimed at jugular of the oil and gas industry and says he will not build the pipeline. this couldn't come at a worse line for the industry. melissa: that i will come to breaking news and you set up us very well. oil prices, steve moore, talking about this sitting at session lows. crude down about a percent 1/2. we're off the bottom that we put in, but still falling off a cliff earlier in the session. that is helping drag the dow a
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little bit, off session highs. still up more than 250 points on the day. 272 to be exact. you see the relationship illustrated there. thanks gentlemen. take a look at this if you saw this on your plane would you get on? united airlines slapped with a lawsuit after flight attendants refissed to fly. see the message there? >> bye-bye. melissa: yes. you better make that hot chocolate a double. it is freezing. two reporters are braving the cold outside. it is just beginning. more chilling temperatures on the way. do you ever have too much money? one froze. we lost him. that's right. ♪
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melissa: the extreme cold continues as temperatures entered the single digits nationwide. schools closed across the country to guard americans from bone-chilling elements and potential frostbite. our very own jeff flock though we sent him out in the freezing cold for the third day in a row. he is now in new buffalo, michigan. fox news's mike tobin, joins us from outside of chicago. who is colder? mike tobin are you colder? >> oh, i don't think, i'm probably warmer because i have a nice layer of flab that keeps me kind of comfortable like the mighty far wall in these conditions. narwal. we keep oscillating between a windchill event or snow event or winter weather advisory. it got a little warmer five degrees above zero, nice five degrees above zero. snow is coming down just in time for the afternoon rush hour.
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city and streets department of sanitation says they can handle it. because of this time last year, they maxed all the trucks ready to go out on the streets. 300 trucks in the city. 1700 trucks all around the state. there is one of them at work right now. he has bottom that load of salt. the tank on the side of his trunk is a load of brian. that mix turf salt and beet juice. keeps the snow melting. melissa: delicious. >> i wouldn't cook your chicken wit because it tastes like i-9 0 very effective melting snow. the roads are most dangerous. if be careful driving everybody. melissa: jeff flock, you look liked frozen into an icicle there. how many layers do you have? >> i love you wrapped an animal around your head. oh no don't necessarily show us your layers. >> that is one, two, three, four. melissa: no. >> five.
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there is a lori, look at this. there is a dock. a duck right here. flying away. look at that wholly. two ducks out there. melissa: they were supposed to go south for the winter weren't they? yes. >> i don't know what the -- it is pretty cold out here, facing right into this wind. very cold. look at this melissa. take a look at this ice wall out here. this is what is building up on the lakefront right now. it is high over your head ice. aye. melissa: you are brave. you showed us layers you already have on there. zip those back up, my friend. i think you're getting a little dell rear just from the cold out there. >> good idea. i have to go to green bay tomorrow. melissa: i was saying where are you headed tomorrow? what kind of hazard pay are you getting from the network? have you called your agent lately? are they renegotiating over this? >> the same hazard pay i've got enfrom the start melissa i which i'm sure you can relate
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to. melissa: is there anyone else out there besides the ducks that you saw? any other weather reporters? >> no, pretty much. no. we're probably only once of the in fact these ducks the ducks seem pretty happy over here. i don't know if lori can see the ducks. you got the ducks? melissa: oh, no. >> not sure. >> i think the camera is freezing there. >> we're close. hey, guys. how are you doing? what is going on. quacking. melissa: they did, they did have a good comment there. jeff flock, get back inside of the truck. sorry, my friend. mike tobin still there as well. mike tobin, what do you think? we'll say thanks. i don't know he might want to trade places with jeff flock. probably not. he is frozen as well. gentlemen, thank you. melissa: all right. see you later. despite falling premiums workers still feeling the weight of health care costs. a new commonwealth fund report shows in every state the cost of health insurance over the last decade grew faster than employs
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incomes. in fact employees are paying up to 175% more toward their health insurance costs than they were in 2003. go to our panel. jared levy from profitable trade something here. steve and david are back as well. jared, what do you think about this one? >> well it's funny, not funny actually, 12% of the average income worker here in texas, their money is going to health care. here is something really fascinating. think about this. i have a friend didn't work most of 2014. picked up job in latter half. subsidized by $300 a month by obamacare. will get slapped with a tax which might amount, 3, 4 $5,000 of monies he didn't think he would have to put out. aside from the burden they're carrying a lot of folks will get a surprise this tax season because they didn't estimate how much they would make properly. that is what scares me even more. melissa: steve moore, remind me where they would use counter factual, well yes premiums may be rising faster than incomes or
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thank goodness we have obamacare because they would be rising even faster. >> it's a dual problem. real incomes are falling and health care costs are up. it goes back to the claim one of the major claims made by the proponents of obamacare remember this one? melissa, that we're going to bend the cost curve down. and that clearly hasn't happened. just one other quick point. you know, isn't it interesting that the industry that obama hates which is the oil and gas industry, prices are plummeting and one that he is trying to rob up, the health industry, the prices are going through the roof. i think there is a message there. >> can i say one other point. melissa: please. >> maul businesses -- small businesses are not actively getting involved the way government planned for them. they have these small exchanges, small business health options programs and according to a lot of people that try to get involved, they say it is so much work for so little money it is not worth it. delaware has only 10 small companies that are participating in it. they thought hundreds would be joining but they don't even
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though they offer tax incentives and so forth. all that paperwork all the bureaucracy, doesn't make it worth it. government plans don't work well. melissa: all right guys, thanks so much. a nationwide manhunt underway as french authorities search for suspects in yesterday's deadly attack. we'll go live to the ground in paris with the latest. so much for the happiest place on earth. a measels outbreak hits disneyland, but isn't that what vaccines are supposed to protect against? "piles of money" coming right up. that's right. it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees from the bank where no branches equals great rates.
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these ally bank ira cds really do sound like a sure thing but i'm a bit skeptical of sure things. why's that? look what daddy's got... ahhhhhhhhhh!!!!! growth you can count on from the bank where no branches equals great rates. the 12 massive manhunt underway across france. continuing their search for two suspects. the suspects, two brothers, our french natives. at least one of them has a lengthy criminal record.
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it is not clear whether this was a lone wolf attack or an organized terrorist attack. joining me now is k.t. mcfarland. this does seem like we are seeing more and more of this. that it is the new norm. >> i absolutely think that this is the new norm. look back at 9/11. putting together this massive spectacular attack. both al qaeda and ices would find it difficult to pull off that level of attack. both those organizations have explicitly made a call to their organizers. clearly, neither of these guys were core members of al qaeda or ices. it is equally clear that they had support and training.
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these guys were professional test. they were not out there just screwing around. they knew what they were doing. they obviously had some sort of training. they acted on their own though. melissa: katie, do you agree with that? >> absolutely. what the worry is this is sort of like another version of the boston marathon. they somehow left france to go. training somewhere. they came back to do attacks in their homeland. my worry about this is we will see more of this.
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we know that there are hundreds, if not thousands of european fighters that have gone to fight with ices and al qaeda and they are now coming back. melissa: we will see more of this. it is very difficult to protect against it. they are individuals that are acting, it looks like, in their own country. what do we do now? >> local law enforcement is working overtime. we have to defeat those organizations. they have some level of external support. we have to destroy the networks overseas. that is why i think it is such a huge mistake.
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we are allowing them to resell those safe havens. it is astonishing to me that we think that is a good idea. >> there is a good silver lining in this. silicon valley types have developed a knowledge he that allows us to come through a lot of data and look for anomalies. pull it all together. connect the dots. we can find these people before they commit terrorist attacks. we have to take this political correctness gloves off and start focusing on how to do this. melissa: thank you to both of you. thirteen flight attendant refused to get on a plane that they thought was unsafe only to get fired for trying to protect
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all sides to reveal his wealth. google shares sinking to its lowest level in years. down from nearly 80% one year ago. yahoo! gaining more ground. jcpenney's is closing 40 stores. affecting more than 2000 employees. coming one day after a jump in sales announced over the holiday season. that is the latest from of fox business network. giving you the power to prosper. ♪
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i do not blame them. to be fired? it was an international flight. they told united they did not feel safe. who could blame them. now they are suing the airlines. they have the union behind them. i do believe that they have a very nice case. >> aviation reform investment act. melissa: what does that mean? >> it is a whistleblower statute. you have to be dealing with protect the act committees. if you have a mechanic using parts he should not be using that is one thing. melissa: it is threatening. >> it is threatening.
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>> by by and those two faces on the back? melissa: how do we know. how does somebody get down there? >> you cannot tell employer, they went out and did a security check. they determined that was nothing there. you cannot tell your employer that you are not going to fly. it is a huge cost. melissa: at the same time, these people were afraid for their own sake he. could there possibly have been another reason why they did this? >> it is not whether or not they feared some thing. everyone fears something these
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days. it is a scary world. melissa: you don't think that is reasonable? okay. you have missing planes. >> threats against a particular airline. some knucklehead made a particular threat. melissa: we are out of time. tell us what you think. this is an interesting fight. cheryl, you are going to be filling in for liz claman. cheryl: an amazing day for the market. we will also be talking about football. it's college football overtaking the nfl? thanks to both of you guys. good stuff.
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sitting at session highs. let's go to nicole petallides on the floor of the new york stock exchange. nicole: it is pretty ugly. the last two days alone the dow had gained over 500 points. the jobless claims. we will see what the monthly numbers spring. all of the arrows across the board. the retailers also shining today. it is certainly a big move.
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melissa: do not move. yesterday's clippers game. >> i cannot even take it. honestly, what are his moves? what is that? it was worse than chris christie trying to do high-fives. i appreciate the enthusiasm -- melissa: i like what doc rivers said. he said he had no comment on that. >> yes. that is what happens when a 50-year-old man gets a little overly excited. that is okay.
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visited are now sick with measles. six patients were never vaccinated. disney is working with the health department on this one. joining me now is doctor manny alvarez. thank you so much for it joining us. when i read this story, i was not surprised. the vaccination rates in some of the wealthiest places in l.a., and monica, beverly hills, are the same in the sudan. it is not disney's fault, it is the fault of the parents for not vaccinating their kids. >> right. the trend since 2000 is every year we begin to see more and more cases. you will not get rid of the measles if everybody is not vaccinated.
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if you look at the vaccination rates of many parts of the world, it is very, very low. when you have not vaccinated american kids, unvaccinated foreign kids, parents now somehow thinking that they do not want to vaccinate their children because they have some issues of a myth about autism -- melissa: a phobia in hollywood. a lot of people on the left. the phobia of vaccines has reached him epidemic level. as a doctor, what do you think about that? >> people tend to forget history. young people got the measles. many of them died. this is what happened back in the 60s. people tend to forget all of that history. not vaccinated vaccinating children, you will have children
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dying, ultimately. for the 100 time, i have an autistic son. we have researched this. i have written about it. autism is not about one single vaccine against the measles. the problem is, if you do not vaccinate one child and he gets the measles, that sort of creates the chain reaction. the cdc has to do a better job. i hope that this promotes this idea. bring children. stay healthy and enjoyed mickey mouse. melissa: doctor manny alvarez thank you very much. apple making a lot more money from app purchases. apple gets $0.30 for every dollar paid. today would have been elvis presley's 80th birthday.
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to celebrate, graceland is auctioning off his first ever record. it was done when he was just 18 years old. today's starting bid is at $50,000. a closed mouth does not get set. why are so many americans too scared to ask their boss for a raise? plus, the ladies still got it. getting more buzz than she has in years. it is all about liberty. ♪
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y'know what my business philosophy is, reynolds? >>no. not exactly. to attain success, one must project success. that's why we use fedex one rate®. >>their flat rate shipping. exactly. it makes us look top-notch but we know it's affordable. (garage door opening) (sighs) honey, haven't i asked you to please use the.... >>we don't have a reception entrance. ship a pak via fedex express saver® for as low as $7.50. ♪ ♪ melissa: whether it's on wall street or main street here's who's making money today. lady liberty just got the biggest year for visitors in over a decade, more than four million people visited the statue on ellis island last
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year. and the sonny hack still -- sonny hack still taking its toll on hollywood. charlize theron had been negotiating her contract for the huntsman, and the south african actress is demanding equal pay. many leading ladies make much less than their peers. a new study has revealed that only 43% of people have ever asked their bosses for a raise ever. that figure is even less there are for women which is a real shame. regular raises, no matter how small, could earn you an extra million bucks over your lifetime. matt and jared are back with me. jared, you strike me as someone who wouldn't hesitate to ask for a raise. what do you think about this? >> we've got the eat. the thing is, melissa, it's very scary, right? you're in this job market wages have been stagnant, and if you've got ten people who are ready to take your job from you
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you're going to be reluctant to ask for the raise. get the education, get the suffixes at the end of your name and then go fur -- for that raise. it's a scary world. melissa: matt, what do you think? i'm 46 years old, i've never asked for a raise. i think it's kind of actually a normal thing. some people like to shy away from it. as a boss of some people i'm glad that 43% number is there. melissa: more than half of people making $150,000 and more have asked for a raise, and of those, 70% get what they ask for. the people that are already making more money feel more confident, they go out and ask for it and they're 70% successful. that success rate has to tell you, though, that it's worth it. matt march into our boss' office the second this show is over and i want you to demand that you want more money! i'll be right behind you. >> yeah you will. [laughter] >> we'll see about that.
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melissa: i like it. gentlemen, thanks to both of you. that is all we have for today. i hope you're making money because the market right now is up 312 points on thrall lay day. -- on this rally day. countdown kicks offer right now. cheryl: melissa they pay you to be here? [laughter] melissa: you win. well played. cheryl: good to see you. melissa francis, thank you. europe's economic pain seems to be our gain today. hope springs eternal that europe's slowdown will bring additional cash by the ecb. it took two back to back days of gains to get the dow and the s&p 500 into positive territory for the year. take a look at that chart. the dow gained 533 points or 3% over the last two trading sessions. this is the market to watch today. and heavily-armed french police descend on villages northeast of paris, and they're on the trail of two paris killers still at
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