tv After the Bell FOX Business May 8, 2015 4:00pm-5:01pm EDT
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david: well, this is just about height of the market here. we're hoping that maybe we get to 300 on the dow, but 266 ain't bad. the bells are ringing on wall street. this is across the board, ladies and gentlemen. there are a couple of examples of some stocks not doing well, whole foods among them, but generally speaking this is an across-the-board rally. we have the s&p and the dow at big, big levels. these are not record levels, but they're pretty close. we had the nasdaq well over that 5,000, well, three points over the 5,000. still nice to see a 5 in the handle there. cheryl: great day. pretty good for a friday. david: not bad. "after the bell" starts right now. ♪ ♪ david: so let's break down the whole week's action, joe duran is here to tell us what's positive about the year despite being disappointed by earnings.
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bernie williams of usaa investment solutions with ways to profit off this volatility. dan veru is here in new york, he's going to tell you which hot international market he is not quite confident in and why, and larry shover is at the cme. larry, let me start with you. is it fair to say that traders are not afraid of rate hikes anymore? at least for the short term because usually when you have a good jobs number like today, they're afraid the rate hike is coming soon. >> you know, david, that's a great question, a broad question, and that's going to answer the question on where we go from here because, simply put, it's either they don't care about rate hikes at all, they don't care about liftoff or the latter which i believe to be true, they're unrealistic in their expectations thinking the hikes are going to come much further down the road. i mean, policy narrative is absolutely steal right now. it's causing a short squeeze today just like we had this time last week. this is frustrating, and it's so
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the celebratory right now in the marketplace. cheryl: joe, don't you think we're just kind of kicking the can down the road and at some point the brakes are going to be hit and we're going to have a correction? it isn't a bad thing, but aren't we just claying this -- delaying this, basically, right now? >> we are. and what you're seeing is a delay of the inevitable at some point. we haven't had a four-year period without a 10% decline in history. so it's very unusual. and why is that? because we're flooding the whole world with money. not just us, but europe too. and i think what you need to do is realize, look, it's not stopping anytime soon. today's number in unemployment was the perfect amount. it wasn't so much that it looks like we have a huge snapback in the economy, but it wasn't so weak that there's a concern that we have no recovery. and if we see more of these low 200,000s, they might just do one very modest, the least that they could do, 25 basis points, rate hike and keep the system
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kind of deferring any real market adjustment. david: all right. dan, listen up. it was a spectacular way to end the week, 260-point gain on the dow, and there was great news out of britain too. we had the socialists losing in britain. that gave boost to the markets over there. i'm wondering if that also helped markets over here. >> there's to no doubt about it, because i think if the liberal democrats had been elected, that would have been a setback for the markets in europe, and by spillover in the united states as well. i think the important thing is prime minister cameron's going to continue with policies that seem to be in the early stages of working and reinvigorating the country there. just -- i was just over there twice in the last five weeks, and you get a sense of an undercurrent of a little bit more business activity going on than in previous periods when i've been there. cheryl: okay. bernie, let's stay on this european theme. it is v-e day, by the way, we should tell everybody.
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you like europe. >> yeah, we do. europe's coming out of recession. their earnings growth is quite a bit better than the u.s. couple that with relatively low valuations and a foreign exchange headwind -- or tailwind for europe versus a headwind for the u.s. so there's a lot going for the stocks there, and they have outperformed the u.s. year to date so far. david: larry, we saw a slow-up in china. i'm just wondering by the time monday rolls around we might see a pullback from where we are now. >> you know, we definitely could. i mean, here i still believe this is nothing but a short squeeze. traders, professionals were not positioned correctly for this. they were fearful of bigger bond selloffs, they're worried about the asian markets which did not rally as we know. that said, we saw a sharp snapback, short squeeze rally. people are frustrated, also very, very complacent, and given the narrative is very static in the market. cheryl: joe, look, at the end of the day the story is make money however you can do it. what about emerging markets?
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we've been talking about the first world, what what about the second world and the third world out there? >> yeah, i like the emerging markets. i'm not as in love with china. i think china feels quite frothy, but the rest of the emerging markets look real interesting because they have high growth. their earnings are going to be a lot more stable with the dollar stable again, and i feel the same way about europe. what you're going to see in the rest of the world is they're not as developed as we are in our story. so i think that there's a lot of interesting places to put your money to work. i think the fixed income market is the most dangerous. david: certainly is dangerous. >> probably the most dangerous. david: let's talk about one sector, though, that at least a couple of our traders here like. dan, you like the banks right now. which banks in particular? >> well, i do like the banks broadly defined. you can look at the money center banks and the guest was talking about jpmorgan which is a perfectly fine, excellent bank. we're also looking at some of the smaller banks like private
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bank corp. out of chicago, you know, very high quality regional bank. and then on to the investment banking side, i thinkly saturday is a -- lazard is a fantastic play. one thing you're going to see is an accelerated trend in mergers and acquisitions. what people really don't recognize about lazard is they are an excellent international manager, so you're sort of getting that derivative effect. if the international markets are going to do better, they'll certainly benefit from it. david: joe, bernie, dan and larry, gentlemen, have a wonderful weekend. thank you very much. cheryl: thank you, guys. >> thank you. cheryl: well, the u.s. economy added 223,000 jobs last month as workers' wages picked up, climbing 2.2%. so have we finally turned a corner? joining me now is ed lazear, senior fellow with the hoover institution and former chair of the president's council of economic advisers. we are still down, you say,
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about five million jobs, and that is not something to celebrate. what could we do in this country to create meaningful jobs? not just jobs, meaningful jobs. >> well, the big problem, of course, is that productivity has not grown as rapidly as it should, and that's a symptom of the fact that we aren't investing in capital at the rate that we would expect to have been investing during a recovery. so there are a number of things that are going on here that explain what we see in the labor market. this number was a pretty good number, i think your panel actually could it pretty much right on. and, you know, there are some things that are good about it, some things not so good. one of the things that i look at is the hours of work. one of the things we were worried about was that winter was a tough time, hours of work did not bounce back. that's symptomatic of a weak recovery. what we also see in the labor market is that hires are actually down a bit from where they were a couple of months ago. so that's a little troublesome
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as well. so, you know, we're kind of on a so/so path. things aren't terrible, but things aren't booming either. and, you know, i think your question, cheryl, what do by do to get things going again is really the fundamental one. cheryl: right. >> i always talk about the long run rather than the short run. cheryl: yeah. well, okay. let's talk about that. i was looking at you need the average american to be working, you need the average american to be -- and i say this, meaningful wages, but average hourly earnings up .1%. >> right. cheryl: big push in washington for minimum wage. big push from this administration to increase the minimum wage. are they on the right path, do you think? >> i don't think that's way to do it. the one thing we -- first of all, there aren't that many people who are affected by the minimum wage. by but the main point is the way you get wages growing in an economy is to have productivity growing. long haul isn't that long, it's three or four-year moving average between productivity growth and wage growth.
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so if you don't have productivity growing, you're not going to have wages growing. that's a fundamental proposition. it's not only a theoretical proposition, it's a proposition that's backed up by the evidence in this country and other countries as well. so, again, it comes back to how do we get productivity growing. what i would be looking at are, you know, a few basic policies. and they're the standard things, you know? we need tax reform, we need a lower tax environment, less tax on capital, we need budgets, we need trade, and we need regulations under control. cheryl: ed, real quick, we're going into an election year. 2016, here we go. >> yeah. right. cheryl: could this be the turn-around moment for the economy because it's an election year and some parties want to stay in office if they can? >> i don't see the election as having a dramatic effect on the economy. you know, if i look at the economy for next year, i tend to use the market as the best indicator of where we're going. looks like we've got about a 2.5, 2.6 president growth rate
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for next year -- 2.6% growth rate election or no election. the question, of course, becomes who gets elected and could that be a turning point and, you know, i think there is some opportunity for change there. but we'd have to make some pretty dramatic changes in the future to get things going again. this is unfortunate because we've had these low growth rates now for a very long time, and we need to make some significant changes to shake 'em off. cheryl: ed lazear, such a great voice on this topic. thank you. >> thank you. cheryl: all right. david: smart man. cheryl: he is, he's brilliant. david: meanwhile, there are troubles in the world like going nuclear to keep up with iran. why some rivals are taking no chances against tehran. will a nuclear arms race in the middle east lead to terrorists getting the bomb? we'll ask the cia coming up. cheryl: nfl superstar tom brady says a lot of people don't like him -- really? -- and he's okay with that. what he did say about deflate gate. find out coming up.
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david: and hundreds of world war ii veterans coming together to mark 70 years since v-e day. some to have most inspiring moments from today's ceremonies in d.c. a few moments away. don't go anywhere, we'll be right back. rise asked people a simple question: can you keep your lifestyle in retirement? i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers you need. start building your confident retirement today.
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david: some breaking news for you, the white house saying president obama will meet with the new king of saudi arabia next wednesday. now, this as "the wall street journal" reporting that saudi arabia is considering building its own nuclear weapons program. this in reaction to their belief that the iranian nuclear deal will not stop tehran from building nuclear weapons. joining us now for more, michael baker, former cia covert operations officer, president of global intelligence firm diligence. mike, good to sea you. -- good to see you. what are you hearing about this? >> the saudis are not, you know, being obtuse or obfuscating it in any way. they've been saying all along that they're dissatisfied with the way this current administration here in the u.s. is dealing with the issue of a nuclear-armed iran, with the nuclear talks, and they've been expressing concern that we've made a calculation, in a sense, within the administration here in the u.s. that we're okay with one day living with a nuclear-armed iran. they feel that the discussions that we've been having so far with iran place them, meaning
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the saudis, in a very precarious position. and we have to look at it in context of certainly escalating tensions between iran and saudi at this point. we've got a serious problem here with an increasing divide between the shiite iran and sunni saudi -- david: well, there's also a divide between saudi arabia who's been our longtime ally and the united states. they don't trust us anymore, do they? >> no, they don't. when the saudis say they don't trust our allies, when they say a comment like we don't trust our allies, they're auction the u.s. that's, essentially, the problem. look, the iranians are hell bent on getting a weapon. i don't think anybody disputes that fact. and what we seem to be trying to accomplish with the current negotiations is to just try to push that far enough down the road so it doesn't impact president obama's legacy. and, you know, we can talk all we want about creating some airtight conditions. it's not going to happen. verification? you know, an understanding of
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what they're actually doing, we've never had that ability in the past. and somehow we think that's going to happen? david: right. >> we also seem to think within the administration that the iranians will at some point become more moderate. that's always been -- david david i know. let's focus on saudi arabia if we can was some people have said maybe they already have a bomb. they financed, to a large degree, the pakistan nuclear program. so if they wanted, they could probably very easily say, look, we paid for this, we want one of them, right? >> right, absolutely. no, you raise an incredibly important point here which is sort of the way that this will, you know, break into, essentially, an arms conflict in the middle east, we're going to get the iranians already working with the russians, but also we know working in the gray arms market with the north koreans, we'll get the saudis increasingly working with the pakistanis, with the egyptians likely, with turkey likely, to create this other side of the equation.
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we seem to think that just like we can ring fence off the idea of what iran is doing to support terrorism, we seem to think we can create this bubble where all we do is talk about the iranian nuclear deal, and it doesn't impact anything else. when, in fact, what we're doing, we're throwing fuel on the potential fire in the middle east. david: well, the worst fire, of course, would be if the terrorists got their hands on a nuclear weapon. doesn't a nuclear arms race in the middle east mean that it would be easier or the chances would be greater that eventually a nuke ends up in the hands of terrorists? >> no, you -- again, you know, nail, head, that sort of thing. you look at pakistan as an example. do you honestly believe that we would be so invested and interested in pakistan if they weren't, you know, holding a nuclear weapons arsenal? our primary concern in pakistan has been for a long time that those materials could fall into the wrong hands. now imagine that multiplied throughout the region with the saudis, with the iranians,
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certainly, you know, again, the egyptians and the turks will likely fall in line as well, and what does that do? it creates a nightmare scenario. again, of course we want to have conversation. we'd love to create a situation where iran doesn't pursue a nuclear weapon, but we're not being realistic about this. david: mike baker, i was going to say have a nice weekend. it doesn't seem appropriate after this conversation. >> yeah. laugh. david: mike baker, thank you very much. cheryl? cheryl: well, david, memorial day set to see the most travelers in a decade as gas prices remain near the lowest level in five years. aaa estimates that 37.2 million americans are going to travel 50 miles or more from home over the holiday weekend, marking a 4.7% increase from just a year ago. national average for a gallon of regular gasoline, we will take it, $2.66, down about 28% from a year ago. where are we going? road trip, david. david: wow. i hope not to europe, by the way. $6.50 a gallon over there.
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cheryl: i was thinking maine, vermont -- anyway. david: well, a great friday for your money on new signs of job growth. does this mean the market is finally moving on good economic news rather than bad? our all-star panel's here with the answers. cheryl: and celebrating american heroes from the second world war. hundreds of veterans are being honored on the 70th anniversary of vd -- v-e day. i'm so sorry. we are live from the world war memorial, and that is coming up. when cigarette cravings hit, all i can think about is getting relief. nicorette mini starts to relieve sudden cravings fast. anytime. anywhere. i never know
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cheryl: new england patriots' quarterback tom brady makes his first public appearance difference the de-flategate report was released earlier this week. while appearing at a previously-scheduled engagement in massachusetts last night, tom brady gave his reaction when asked about the report that says he likely knew new england
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patriot staffers were deflating balls. >> it's only been 30 hours, so i haven't had much time to digest it fully, but when i do, i'll be sure to let you know how i feel about it. >> are you that slow a reader? [laughter] >> well, my athletic career's been better than my academic career. usually i'm used to reading xs and os. this was a little bit longer. cheryl: brady could face a fine or suspension from the nfl. david: finally the market rallies on a good jobs report even though that makes makes a d rate hike more likely. let's bring in our panel, jeff reeves and john tandy, "forbes" columnist. jeff, what about this? do you think we are on the road to a better economy where the market and the economy go parallel? >> yeah, actually, i really do. and i think it's important to note too not just do we see a good rally for stocks today, over the last month or so we've seen ten-year treasury rates
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move up pretty significantly in anticipation of a rate hike, about a month ago the ten-year was 1.8, now it's about 2.2. so i think the market is anticipating a rate hike. and while we see some volatility, i think a lot of that can be attributed to earnings, twitter and yelp, of course they got slammed because they had bad earnings reports. i think we are seeing an upwards market, you know, in rates, and the market can move higher. david: so, john, are we getting back to normal with our economy and the markets? >> well, i think we've always been normal at this point. i'm generally optimistic mainly because washington is gridlock. you never have market crashes or corrections. what you have is new information reaching the marketplace. and so realistically through 2017 washington can't make any big errors, and because they can't markets are going to be a pretty safe place to be, i think, in terms of investing. david: even though we only grew at .2%, john. >> wedgier yeah, because that 2-- well, yeah, because that
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2.2% was a false number. that number came down precisely because government spending came down, because imports went up, because investing in the prosaic commodity that is oil went down. all of those numbers were positive, but they actually drove down gdp. it was a very bullish number hidden by a fraudulent calculation. david: let's move on to overseas, the socialists getting their clock cleaned in the british elections. does this mean voters are wising up to socialist promises that can't really deliver? john, what do you think? >> absolutely. notice how pound rallied on election results in england. david: sure. >> this is a very bullish story about the fact that voters are much smarter than we give them credit for. they want growth, and they voted for less in the way of government. that's good for the pound, good for growth in england. david: well, david cameron was very specific, jeff. here's what he said the voters are voting for. let's play a tape. >> make britain a place where a good life is in reach for
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everyone who is willing to work and do the right thing. david: everyone who's willing to work and do the right thing. that's very different from saying everybody gets a piece of the pie, right? jeff? >> yeah. i mean, it is important that some big anti-immigration candidates did kind of get pushed off too, so i wouldn't say, you know, the conservatives are going to have their complete run of the place -- david: but the critique is not necessarily conservatives, they're kind of a mishmash, but the fact that the socialists lost bigtime and that the onus is now on the british people to work for a living rather than to get welfare for a living. >> well, you know, i would caution not to read too much into the grandstanding that comes immediately after election. i agree with the rally in the pound, the market in europe has responded nicely and in london because i think they see a little bit of certainty here. it's also important to note that u.k.'s policies actually were better at getting great britain out of recession than some other
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countries in europe. i do think it is bullish on the region, and i think it's good for the british economy and for investors. david: okay. let's move to the winners and losers of the week. i love this segment. john, who's your loser of the week? >> the big loser, i think, is personal responsibility. we've seen in baltimore democrats being blamed, republicans being blamed. wait a second, we live in the united states. people around the world in the most impoverished parts would give anything to live in this country. so when you see what happened in baltimore and we're trying to blame political parties or government, this is a lack of pride. the it's lack of love of one's self that would cause someone to act this way. personal responsibility was the loser this week. david: jeff, your loser. >> my loser would be millennials who read some of this click bait out there over the last week. a man who i'm not going to give any more pr basically said 401ks are the worst idea ever. i couldn't disagree more. 401(k)s are good for you, especially if you can get a
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company match. you shouldn't look at a headline because it's fancy and let your life be governed by a 30-second video on a social media site. david: fair enough. mcdonald's is my loser of the week because of this hamburglar. we had him year ago, now we have a new version. [laughter] he's supposed to be a nicer, kinder -- why did we want him in the first place? i think he's a loser. all right, winners. john, who's your winner? >> my big winner is james franco talking about mcdonald's. he said that the job was never beneath him, and that's what's got to be remembered. it's not where you start, it's where you finish. he said he was never above the job, it led him to other great things. he's now a very famous actor. thumb's up to that. david: you've got to start somewhere. jeff, your winner. >> my winner is elon musk and tesla investors. the valuation's a little high right now, but this guy knows how to stay in the news, be innovative and come up with great ideas. i mean, i think the power wall,
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his earnings call, there's going to be a new tesla, a cheaper tesla, the model 3's coming out next year. this guy has mind share, and everybody's paying attention. he's really knocking it out of the park right now. david: okay. my winner is based on this announcement from the white house. take a look. >> the president has indicated a willingness to use as much of his executive authority as he can to try to take the steps that he believes are consistent with the national security interests of the united states, and that's closing the prison at guantanamo bay. david: all right. terrorists one step closer to getting released from gitmo and, john, as we've seen before, a lot of these guys go right back to the battlefield. >> they do if we're going to be at war, let's be at war and keep them locked up. let's let the world know that we will lock up those who mean us harm. big loseers for us, winners for terrorism. david: if you're looking to do with something on the weekend, you can catch john and myself on "forbes" on fox, that airs every
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saturday at 11 a.m. eastern time on the fox news channel. cheryl? cheryl: my favorite show, but don't tell neil can cavuto. [laughter] upscale grocery store chain whole foods announcing it's going to launch an offshoot brand. how the new stores will differ from the company's bread and butter chain. being healthy is often associated, by the way, with diet and exercise. what goes on your body is just as important as what you put in it. coming up, we're going to talk to one guest who has created a personal care line that aims to make sure you feel as good on the inside as you look on the outside. we'll be right back.
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. >> looking to change its reputation, announcing stores to millennials, the new chain is going to offer products at a lower cost and will offer a modern streamline design and whole foods has not yet given details on the name of the new store or the locations, but will by labor day. also actually down coming from whole foods day this week. >> all right. well, that's small business, but small business owners that are raising the minimum wage, many are having profit charges
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getting stretched so one of the small business owners is brian hibbs, he's owners of the minimum wage was just raised by 43%. brian, welcome. tell us what your company does. . >> well, we sell comic gooks and graphic novels, i've been in business for 26 years and we've always been a profitable company, small business profitable, but profitable nonetheless. >> it's fair to say you have a pretty thin profit majority; right? >> yeah. all the money we just gets plowed back into the store . >> so how much have you calculated on the basis of how many employees you have and minimum wage how much is this going to hurt you? >> current payroll, it's going to cost -- we have to raise revenue by ruffle $80,000. >> that doesn't sound like a lot of money, but for a small business, that could really mean life or death, couldn't
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it. >> it is a very significant amount of money for us. it is not something that he would with organically have in profit just sitting around. . >> are you going to have to fire somebody? is it possible that you may have to let some people go? >> well, i mean it's certainly possible. we're doing everything we can to ensure that that doesn't happen. all of my staff are hard workers, they love the job, it's a thing about passion for all of us, we just love doing, so i'm trying to find us a solution that won't cause anybody to be fired . >> so what would be? >> so our solution is we're trying to do a national book of the month club, a graphic novel of month club. >> uh-huh. >> you know, comics are i think leading pop culture today, avengers, walking dead, daredevil, everywhere you look it's comics, but i think the average american hasn't actually read a comic book. so woulder trying to put a comic into everybody's hands . >> well, good luck on that, but the bottom line is that
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this could cost you your business. i mean $80,000 just doesn't drop out of the air. and you bodied you consider yourself to be a progressive, don't you? >> i do. >> and both the times you ran. >> i did, in fact, vote for the president both times he ran . >> so what do you think have police stations who make rules and regulations that directly affect people like you who do need a payroll. >> yeah. i find it frustrating and hard to with, you know? there's a lot of stores like mine that are in a similar situation, and i think the landscape of our city is going to be dramatically changed here, and the problem with me is i feel as though this is just going to end opposite in what is intending it's making so that we have to make it so that people who are
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minorities, or poor or are going to be much had a reasonable doubter getting off the ground. >> as i was blue in my face, several staff of president obama, saying exactly what you just said and i was told by those people, no, you're just -- what would you tell those people? >> well, i would say that i'm an actual real, you know, business who has six employees, who all really want to work there. i have employees who quit higher paying jobs to come to work for us. so i -- i'm frustrated by this >> a lot of people are. brian, comics experience owner and founder. thank you very much for being with us, brian, let's know what happened. >> thank you, david. we will. >> well, david, one of america's most booming industries is also one of the least regulated. we're talking about beauty products. hair care. skin care. and more. one company says its promoting
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dallas to chicago, american plans to fly none stop to beijing, shanghai, and tokyo, they have been flying the dreamliner for three years, boeing has delivered 250 so far, it has fords 800 more. sherrill. >> well, as you know, sunday is mother's day and many moms are planning to dress up, look their best and went, in fact, the cosmetic industry is valued at 58 billion dollars, and it's largely unregulated. but one entrepreneur is going to change all that, and she's taking it by the storm creating healthy, none toxicated products for you. >> thank you so much . >> where did this idea come from? even though it's an
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unregulated industry, i assume the fda is not going to allow toxic products to put on their fought relevant faces and bodies. where did you come up with this and find the science behind it inspect . >> so i came up with the idea because i really thought that there was an opportunity create better beauty products, products that were both high performance and safe. when i was looking for the market and trying to find stuff for my family, i just wasn't findings what i wanted. so in terms of the fda, i do think -- there is regulation over the cosmetic's agency, but as you know we have not passed a federal law since 1938. and the law that does exist does allow companies to put unwanted chemicals into the cosmetic products . >> and the number of ingredients that you have banned for your line of cosmetics is 1,500, but in europe a lot of the ingredients you were banning yourself are being banned across the pond. why is that.
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>> that is correct. they have very strict regulations on those products, of which the u.s. has banned 11 to date. we look at chemicals that can be linked to cancer, reproductive issues, that might be -- might be harmful to human health, and we try to eliminate all those from our products. >> you've also got some collaborations -- and you mention some of the diseases that can be linked to the products, you're working and collaborating with the breast cancer fund, healthy child, hell,y world, you've got these trips to help you, it's the messages do you think getting out there and how is the company doing? how are sales more importantly? >> well, thank you for asking. sales are going really well. didn't i we do work closely with a number of green chemists, the environmental working group, the breast cancer fund and we don't have all the answers and we don't
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claim to, but we are very much about progress and perfection. we have done a great job so far about getting the word out there and producing high performance products. and sales are going great . >> well, i was going to say we are looking at a lot of your products, i was going to ask the cost structure, what's kind of the price range if you will for your products? >> our products run from about $20 to about $70 and in that range it's a premium price point. we try to be aspirational, but as accessible as possible, and we really are using lots of natural and safely sourced ingredients, so that does come at a premium to us as a company as well . >> we should say, this is not your first day as a entrepreneur because you sold your previous company to martha stewart. so certainly this is something that very well related to women.
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gregg, thank you very much and happy mother's day once again. >> thank you very much for having beauty counter on . >> all right, sherrill, world war ii planes flew above the national mall friday as part of the commemoration of the 70th anniversary of victory in europe day. joining us in washington d.c., one of the planes had to make an emergency landing. tell us about it. >> david. some drama right before this air show. one of the planes had a hydraulic leak, it was a diver that was on the way here, and that hell diver diverted in just time because reagan national airport who closed for this air show and was the emergency landing spot is really close. let's than three miles from where are the enormous crowd of tourists and people on their lunch breaks were gathered. now, the fact that those planes are so old, added an extra element of intrigue since they were flying about
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1,000 feet off the ground, but the plane did touchdown safely just across the river and dca opened back up as planned. >> tell us about the rest of the air show. >> it was really, really cool to see these planes flying in so low from virginia over all of the mon monuments, some of the flew fast, some of them slow, and the whole point was to solute these veterans on the 70th anniversary of the day. and these are the guys that saved us 70 years ago, and one of told us what he remembers about ve day was a cold one. >> big piles and everybody invited everybody to come out and have a glass of beer and celebrate the end of the war. >> the world war ii memorial is a very solemn place and many of the ventures veterans
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that we spoke to say that they know their opportunities for this are dwindling so their fact to be here and see it and be sole -- soluted was very special for them. >> thank you we appreciate it so much. >> willing to break into new business and take on competitors like youtube and facebook? we've got the details coming up. >> also what's it like for americans working right now. jobs fair in indiana, jeff. >> i tell you the government says that the job market is improving, but what do people who are unemployed say? we'll show you a jobs fair where there were literally hundreds of people standing in line for a job. stay tuned. >> hi, everybody, i'm gerri willis, coming up on my show, we wrap up spring real estate, not only do we have the upgrades, but the upgrade that
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the unemployment rate falling to its lowest level in nearly seven years as employers added 223,000 jobs this month, now, this is a big improvement, but there are still millions of americas who just can't find any jobs. >> true. a job fair in gary indiana, and some big news. >> 8.5 americas still unemployed, and the unemployment numbers represent actual people the government says that the employment market is improving, but what do people who are unemployed say? we asked. >> yeah. it's kind of bad. it's bad because, you know, you could get lucky and find something, but it's actually real rough out there trying to find a job. that's why this line is so long . >> and you talk about the lines. i tell you it was almost amazing to see out here today. hundreds of people lines spilling out into the street,
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and this was for 40 jobs today. ultimately the company where i'm standing right now will hire 300 people to make industrial. and it's up 10% from april, and that's a slight improvement, but that means that 93 million americas are not even being counted because they even stopped looking or for one reason or another are not in the labor force. that is an all-time record number. the only positives that i see is the amount of time that people are unemployed. that is ticking down a little bit. in november it was 33 weeks on avalanche you would be out of work. now it is 30.8 weeks. and we met a lot of people in the library today. i tell you we talked to everybody from gang members to convicted felonies to very accomplished workers who just can't seem to find work out
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there. you know? these numbers i tell you it's just fascinating to come out and talk to the real people and hear each individual story. >> numbers are numbers. but people tell a different story. home of those people left without a job? what percent left without a job? >> oh, percentage, i would say probably 80% maybe 90%. hard to say. maybe even more than that. they hired 40 people today actually on the spot and, you know, 40 is better than nothing. >> i appreciate it, my friend. >> that's the real story. well, tropical storm warning has been issued for parts of north and south korea. the current currently has maximum winds near 45 miles per hour. gusts as high as 60. hurricane season officially begins june 1st. >> and then we have one before then.
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meanwhile fox business kneel is reporting on americans dwindling faith like the government, the stock market, a lot more, and he looks for ways to rebuild our trust as a nation. america's trust deficit, it airs tonight at 8:00 p.m. eastern time 5:00 pacific right here on fox business. you can't miss it. . >> we have had quite a heck of >> we've had quite a heck of a week. >> the last couple of days of it. despite today's gains, barely even, we are up a little bit on the dow for the week. .9%. the s&p up .4%. the nasdaq was down. >> 3% for the tech heavy nasdaq. earnings have been a big story for a lot of major companies. we have been watching earnings. >> they have been. the market has been doing well. we've had a lot of ipos. we've had bojangles announcing its initial public offering. look what happened as a result. maybe a bojangles in your town.
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one in new york. >> i've never been to one. people say we need to try it. >> one in new york. it was up 25%. >> great to have you back. you and your wife had a wonderful vacation. >> you have a great weekend. gerri: hello, everybody. i'm gerri willis. this is the willis report, the show where consumers are our business. a great jobs report for wall street. stocks soar as payrolls rebound. >> where is there the 400,000 a month that we got under ronald reagan? >> we'll take a look at what today's report means for the rest of the country. the clinton machine goes into overdrive to try and smear the author of a book that could derail hillary's shot at the white house. >> even the guy who wrote the book apparently had to admit under questioning that he didn't have a shred of evidence for this.
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