called a staggered deal for greeks and up goes that market about one and a half%. any time is up. neil it is all yours. >> thank you stewart. we tell you here we don't necessarily follow the move early sign that it could be warranted we have a healthy advance in the corner of wall and that has to do with the prospect it is that germany could be behind the big deal that could benefit greece, you've heards that before. we don't want to jump to any conclusion but a key catalyst might have been a surprising jump in mortgage applications a sign that people are seeing interest rates backing up and getting off fence and mitting to housing. that could be a very bullet signal for the economy. technology is also looking very strong right now in dallas up close to 3%. you know how that goes. technology can start to rear its battered gear and drive us out of this. that could be a welcomed development. we're exploring all of that and this prospect of how rising

interest rates could benefit stocks i know that is contrary to popular opinion. but special guest feels that could be the case. we're also speaking to germany as we did earlier focussings on what is going on. half a globe away. jeb bush is in germany part of the european door and trying to show his presidential credential this is comes at a time when he is taking a lot of money. and trying to tap down examinations that he could raise $100 million before the contest formerly starts and he throws his hat in the ring next week. we're a little keeping an eye on washington, new overtime rules that many businesses argue will be devastating to them. they argue that this was bigger than minimum wage hike that tens of millions of americans could be affected and bosses would have to shell out for you if you're working more than 40 hours. all right, meanwhile back to that back to how much candidates are raising to our charlie gasparino how significant it is that jeb bush is saying i might

not make it to $100 million. what do you make of that chore >> this is what i'm hearing from what they're saying on wall street and they are people who potentially support jeb bush but they're saying point-blank that jeb bush is basically telling people to hold off, delay donations for now worried about appearance of accumulating 100 million dollars or more in that war chest that packed war chest which would somehow not quite skirt the rules remember he's not a declared candidate. but give an a appearance that he's skirting rules raising a lot of money. if you're a declared candidate there's a limit on how much you can fund raise from certain people in your pack. so that is what we're hearing if this thing doesn't mac the 100 million threshold that people expect they would make week ago that is because bush is telling people getting from the people he's told he's telling this to or at least fundraisers telling people to back off. keep your powder dry.

wait a little bit and then come back for more. >> do you get a sense, though, that the way "the washington post" played it today is that he's in trouble. that he's not going to get to that 100 million figure. do you think this is more like tamping down? >> listen, washington post is a fine newspaper i would tell you that people that i talked to who are people on wall street who give a lot of money to these campaigns and particularly on republican side say they've been told basically to hold off that he's got the potential to raise so much money he is actually worried about appearance no now, there's a double edge sword some are committed at a certain period maybe that goes to marco rubio or someone else. we have to wait to see. but clearly word in the bush campaign hold off. hold back your -- your contributions, and qait for later because they're worried about the appearance. i would say this welcome as well you at john mack on the other day fascinating interview former ceo of morgan stanley clearly supporting hillary clinton this year. he's supported her back in 2007.

i would tell you this from what i'm hearing inside morgan stanley that is going heavily to jeb bush over hillary that the -- major players, the bank is in. big money guys are in that prm are heavily leaning towards -- towards jeb that affiliate them want jeb to win they don't trust hillary associations. >> what about mack former ceo? he support or her. >> that is with everybody inside morgan stanley tells me that you have to ask mack he might laugh at this. but former colleagues in there say he's clearly angling to be next treasury secretary under hillary clinton that is why he's public right now saying he's for her. i think if she's going to pick a wall street guy which as you can she's close to wall street he would have -- be competing against one of his very good friends a guy named larry the who runs black rock. major management firm. biggest in the krkt, mack as you know is with kkr a senior

advisor. those are two favorites right now on wall street to be treasure secretary. people are saying that john mack is clearly angling for that treasury secretary job. i have ran that by john a couple of months ago, you know we asked to put the question to him fox business he laughed it off saying, i'm having fun in the private sector but clearly his colleagues inside moore stanley say that is why he did that public announcement on hillary clinton on your show. >> thank you my friend. charlie gasparino back to the dow i told you we wanted concentrate on this. mentioned and back to positive territory. back over 18,000, big catalyst as i told you surprising economic news. perhaps more importantly mortgage applications running at a better than 8% plus rate as americans get off fence to commit themselves to housing. oil issues are up xeemed three of the dow 30 stocks are oil related. so when they move up, own course

it is not surprising to see the dow move up one day if not it is a trend we thought we would pass that along as to why we're seeing heavy advances for now that we are. but meanwhile something else that is capturing wall street and main street's attention. what businesses might have to fork over if you are working overtime and you're a salaried worker not an hourly worker. some republican congressman are raising hack les about this requirement -- that you automatically have to pay workers more for those earning up to 52,000 from around 26,000 now for every hour they work excess of 40 hours so you did math here. that could be ten of millions of american workers that dwarf whoever would benefit from a hike in minimum wage. congressman tim wahlberg chatting to later this hour says we'll continue to hearing consequences for workers and job creators that the administers goes too far in the regulatory proposal expected to release. til raise to congressman

wahlberg on this show in a few minutes, this is all perfectly legal for labor department to pursue. and it doesn't need congressional approval. now, some on the right are protesting that. but it is what it is. and the labor department can go ahead to make rules official, and that seems kind of stuff that you can't fathom. but it is what it is. that former macarthur david says it is just a thing small, medium small businesses don't need to hear. david what do you make of this with the stroke of an administrative change? all of a sudden -- millions of americans are going to get overtime and millions of bosses are going to have to cut the checks. what happens? >> you know, neil it is another one of the intrusions by big government with no conception of what it takes to run a business in today's world we hear from the minimum wage part of it. now we're hearing from overtime issues it is cutting into a pop that big government assumes that only small business owners have

setting on side are their -- are their spending on beg boats and cars and thing and the reality is, and i'm proof that reality is it is just not there in small businesses today. majority of small businesses especially when you get into the small businesses that are so precome to in and about in this country that is the consumer, you know, the extras, restaurants business. the carpet dealer. >> if you were to acquire all of a sudden because of an employee earning a certain amount of working a certain number of hours that he or she then has to get overtime these are salary workers here not -- wouldn't you redig their schedule to avoid it as much as a lot of folks have done in the business community -- to get around the requirements? >> you have to it. you have to. what you're going to do is get sent home and part-time people take over. who is going to be benefiting from this are businesses that

employ temporary help where that the company itself doesn't have to do -- be responsible for the overtime. the benefits, you know, the health insurance and rest of it. what is happening is they're destroying the caliber when they think they're doing good they're destroying the caliber of the work force out there same thing happening with minimum wage. ideal right now no different environmental to what i did before. now i'm calling on small business owners daily, and neil i've got customers right now that say well i had expansion plans and when i heard the minimum wage when i heard this, they've just put him on hold. i know a guy who spent three quarter of a million dollars on a mall piece of property to open a restaurant stand in a place and he just said you know what, you want to buy a piece of property? because i'm not expanding anything at this tiewmg. and that is what is going to happen. you see this by 2020. we're going to have this minimum wage, what you're going to do is completely curtail business expansion in this country because people aren't going to be able to afford it an they don't know what to do. >> closer to the counterargument

of that hearing a little bit later on on coast to coast is this will not be damage that businesses will be able to grow with this. that is the counter to that. we'll see how that registers with a lot of folks who don't necessarily buy it in a lot of business titans fear it from the small guys to the big guys. we shall see. mean mile those killers on the run in upstate new york wherever they are. david lee miller, with the latest from a man hunt that is now growing to historic proportions. david lee. >> that is right we're in here and take a look over my shoulder the road behind me is shutdown to all traffic and off in the distance you can see on the side of the roads, a truck belonging to forest rangers, there is a heavy police presence here earlier today. take a look at this videotape and you can see department of correction officers in military fashion marching down this street. they are searching this area in intensifiesing those efforts, so far no, authorities have receivd

100 leads but sources tell us there's assumption of credibility to a lead that these two piewj piewj tiffs could be here in wills burrow people here are scared otherwise community has people locking their doors. some are even carrying firmings. not far from here are railroad tracks, it is believed neil, it is possible that the two men may have traveled here hopping a freight train only about 30 miles south of the prison. but despite the efforts of law enforcement, so far they have turned up nothing. neil. >> thank you. very much here we want to keep you abreast of what geng on on the corner with the dow rally. welcome tell you right now that all top ten sectors are benefiting from this particularly technology. but one day not a trend here. we're back over 18,000 this is still in and out of being flat on the year our charles payne with more on that coming up, and are we ready for charles right now? that is coming up. okay, one other thing too i was noticing here that might be a catalyst we're going to check this out that target, big

retailer is doubling its share byback plan and hiking dividends 7.5%. i mention that because those are seen as development qhs companies and management take confidence in their stock enough to that they'll buy it back because it is going up as a good investment and the arguments is why dongt we dive in as well? is that true? who knows. one other thing we're following before we go to the break nato, there used to be audiencing among all nato members that an attack on one is attack on all. if you were to attack italy every other member could come to italy's defense but italy is saying like greece, if one of our comrades are hit, no. they were saying that about the prank. what does that tell vladimir putin? a top war hero who says very dangerous when nato starts abandoning its own.

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ironing out their differences to get a deal that is almost noise but i have it out there and unexpected rise in mortgage applications one percent that could be housing industry comeback. a lot of people with the fence because they feel that rate is rise and better get off now. we have a market rally here. charles payne focussings on this an takes big step back and doesn't too crazy when stocks are down or up a lot. but you did make a couple of big calls on netflix and urging people to get into the stock when it was around 450. now zeroing in on highest it has ever been, now you're saying he's up. >> almost told people to take profits before coming down here. target was 700 that wasn't my original tart it was march 12*9. kept raising target, what we're seeing now is almost -- they're going to be a marriott and stock goes up 30. silly season, this is usually when you go ahead and take profits.

that got a lot of press and attention going up but not this fast. >> this gets a little bit scary, it is a household name people know it. people use it one of the first things i always talk about get what you know but better to buy 400 than 700 what people ends up paying so one of the things that is a side part of this market where people see market moving back near all time highs, they want to buy a stock, they want to buy a hot sock and make money tomorrow. pro and cons in netflix of the world. sometimes almost better equally urge to have the bone the world also. >> many are up or down on that you have to step back now. if we were to look at the market average it is they were unchanged bsh did but it is concerned folks. who do you make of that? >> we've been in a tough range and violent swing triple digits don't mean as they did few years ago.

at one point this year it was tightest trading range in over 100 years. right now there's a lot of tension and it is all circled around idea can this economy going on its own with the help from the federal reserve that is big question mark overhanging this an the economy. >> do you think it can? [inaudible] >> i don't know. >> it is showing signs. entrepreneurship is spiking right now. you mentioned household formation 30% of young adults at home they're moving out of. recollecting not buying but stiff still you have to buy pillow cases, sheets things that you move into the apartment. >> not all of them are moving out. [laughter] >> with you on that one. >> lying to death -- like you say. my granddaughter, though, but i'm with you on that one, and wages yesterday small business said listen last month, you know, 25% raise wages wages so f the little pieces that is a trend your favorite thing now have toe say it is sustainable trend i don't think that is

financing yet. >> thank you my friend. always great to get into this kind of stuff all of the time. i tell you when you miss the show, you miss great money make opportunities. where were we with netflix and so many more, stocks 6 p.m. eastern time making money which host, i would say particular owner because he's the only show that makes that the goal. mine is coast to coast. [laughter] how can you sue me on that. think about it. i cover myself -- >> a sandwich, anything. >> anything, dessert topping. it does. all right, we are charles and i were talking here getting word here that the white house is going to commit additional troops to iraq to help them and those iraqi forces trying to take on likes of isis 450 soldiers we are told now that is coming out of the white house. and amber smith with us right now, the former u.s. army pilot, amber what do you make of that and that commitment, is it enough 450 personnel on top of the roughly 1800, 1900 we have

now? what do you make of it? >> what are 450 different advisors to train and assist iraqi army soldiers what do they do in materials of they're not changing strategy. they're just a mix continue of what we're seeing when is a strategy to degrade not to defeat. >> you wonder what -- that number a personnel will do to change equation here and, of course, i'm thinking what the president said that there was no clear strategy maybe this is a belated effort to address that. but i'm wondering if writing is on the wall amber that we're not really committed to going all out, and in this region maybe for very good reason. we're -- the war you've heard it all. do you think it is a matter of time and i know i'm jaded here. that baghdad follows the like of saigon when it just falls and bad guys have taken over? >> yeah, there's two results that come out of iraq right now.

and that is isis or iran. and the united states, president obama needs to decide if that is something that we can live with, and we all know what a further emboldened iran looks leak looking to get nuclear weapons they want to further in surrounding regions. they want to have that dominance and control, and they would love to take back some of the land inside iraq and the u.s. taking a backseat to leading the fight in iraq is allowing them to do so. >> i'm wondering too another indication that nato countries themselves may be reading us are reluck substantiate to use force when it cools to dealing with russia. a new survey out when they talk to folks in all of the nato countries where they would rally to the defense of a member yet. i believe nato creed was anyone of our members is attacked to the attack on all of us but a majority hold in france, italy and in germany say that does not

mean that they could attack for example, the attack on ukraine. what would warrant an attack on russia. what do you make of that and that shift in thinking as far as the unified force against russia or against when it comes to what is beginning on in the middle east. what do you make of it? >> that attitude is unbelievable. it is such a very dangerous precedent to all of our nato althoughs that nato might not hold up their end of the bargain especially to latvia and lithuania that are feeling the aggression of putin in russia right now. >> and putin -- if i'm putin on isis i'm looking at the developments and saying hey, you know we can sit become and watch these guys just lettuce do whatever we want, right? >> absolutely. perception is reality. right now putin is not seeing any sort of consequence for his actions. he's being allowed to do whatever he wants, because he knows that nato is taking a

passive stance including leading nations inside europe that are saying hey as long as we're not the ones being attacked and we're not ones feeling pressure of russia right now we're going to let countries fend for themselves, and so putin is taking full advantage of that over the last year. >> incredible amber thank you very, very much. the white house is saying 4 to 350 troops that they'll be in a noncombat role. they're not saying anything more beyond that what that means. but a noncombat role. all right, remember governor huckabee talking about hey, look i'm not too keen on going after social security right now. doesn't need any going after, then alan simpson hit back on him on entitlements look what we created. >> back to what huckabee is saying that is absurd. you know, he's not an absurd guy but a sharp cookie and his ideas are absurd. >> and he's half right. i'm a smart cookie he's half wrong and says that my ideas are

all wet. >> get ready to rumble. on the right -- after this.

>> all right we've got a market rally going on on corn herb of walling and broad and catalyst it is a big jump in mortgage applications hard to say. is it a greece looking more stable hard to say. or just something that is as simple as program trades kicking in? that is something that this guy is about to say anthony follows this better than anyone i know. the guy is a brainiac. but you're looking at this and saying what? >> well, exactly that. i think it is a broad based program. tactical back in the market neil. so basically market got below the year to date being below zero, so now people are buying and flooding back in. so what i mean by tactical allocation is they're moving away from bonds and cash back into the market to take advantage of the weakness.

>> does that trigger hit or algorithm to this sort of stuff? >> absolutely. that is irony will makeup stuff and talking heads but at the end of the day i think thaftion a broad based program buying back into the market after friday. >> when they need to see is something that gooses it a little bit. that kicks in because that in and of itself could be the concern. >> we have to remember if you have a goal of saying to reach 4, 5% your insurance company you have all of these relative metrics as you're allocating capital between stocks, bonds and other classes so when stocks get cheap, they tactically allocate back into the asset class you saw that happening this morning. which is persisting but it only leaves market up about 1%. >> sellerly where we were when we started. so we get the big picture view. there are a lot of technicians who are very smart like you who say well, you know, look at what is has happened to the dow

transports they have a new high since christmas time since last year. something is going on there. >> interest rate worry. there's other types of worries like that but i do think market will sail through this. what you find is after the peth starts raising rates about 12 months after the first rate hike, neil of the market typically up about 10%. so if you analyze about six or seven of our business cycles that first rate hike there's a short-term selloff but then market rallies through. a sign that economy is getting better and real interest rates in the economy which really judge the value of money if you will. the real interest rates are going up and inflation is tame that means that corporations have a need for that money to make investment. >> when if they're going up in in the process and that is one of the unexpected jump in mortgage app do stock climb in such an environment? >> with low inflation and rile rate rises, the answer is yes. if you study that over 6 or 7

business cycles you can see that fed raise rates say 200 bases points over 18 months provided that inflation is low, and that economy is picking up, jab number that we saw on friday continue to improve. you could build a case for the stock market rallying into that. so there will be a short-term selloff likely but market will be higher from 5 to 10% from today. >> real quickly when i had charles payne here when he recommended 450 bucks his target was centered. he didn't think it would happen, and less than seven weeks what do you make of that argument things are happening too fast? >> okay, so that is a little bit of a momentum stop. we have great core fundamentals but a stock like netflix i think charles has been right on that. but that has been more of a trader stock and it has been a good barometric pressure raid for markets. there's a sign of heavy buying

underneat it. i don't dislike net flix but valued investor i would avoid that. >> as a big moneymaker i want to pick your brain on jeb bush the idea that it is a disappointment he might get 100 million bit time of the launch. you like scott walker he's got less than half of that. how big a deal is this whole money rate? >> it is a big deal. money is typically a good sign for the candidate. he's still presumptive front rub we are more money than rest of the people and below 100 million. let me tell you something not one candidate including my own that wouldn't want number that has the authority. >> didn't recognize that. >> he moves whole thing politics and business at the same time. that is at the power also taking a look at the part of the administration to do things maybe constitutionally it can't do. former attorney general on some big don'ts that the obama white house after this.

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with the tools and the network you need, to make working as one easier than ever. virtually anywhere. leaving you free to focus on what matters most. all right don't be surprised next time you look at your airline ticket that there's a line there for admission charge. in other words a fee for the airline having to make planes cleaner. that is the push right now on the part of the administration to get the airlines and all plane makers to adhere to a clean plane strategy. peter barnes in on that in d.c. >> that vieght epa is expected to announce they have plans to

regulate carbon emissions from airlines and then soon after more proposals to cut them from big trucks, oil, national gas facilities and power plants. airline regulations is latest in a series of actions by obama administration to advance the president's climate change agenda through the epa but flood of new rules facing strong opposition from reallies and some democrats in congress. to charge the president to an end run around its authorities. charge new rules will hurt economy and raise costs for kiewrls. no comment from the article industry on the possible impact of the rules on its cost and tibt prices and 79s to wait until it sees the actual proposal but it said all already that it has a strong record of curbing carbon gas emission and set achieving growth by 2020 and plans to cut them in half by 2050 with a significant move towards the use of biofuels. neil. >> peter barnes thank you very

much. hearing from mitch mcconnell majority leader of the senate has quietly urged various states to defy the epa but not coming up with those proposals for cutting not only power plant emission but it is an overreach in his eyes. so there's a fight back and forth whether epa is overstepping bounds something i want to pick up with former u.s. attorney general. john, good to have you. this is one of many issues which republicans claim administrative overreach. white house overbreach. you can go back to the deportation issue. freezing deportations already two courts slap down to the president. you can talk about the big flap over health care subsidy, whether that was overreach on the part of this white house and this president. what do you think is going on here? >> well, it would be out of character for this president to yield to the normal limits. he has insisted time after time

on taking advantage of whatever he thought he could virtually get away with, and i think this may be another case. absent to details of this proposal it is hard to tell. but he's accustomed to operating on margins and beyond margins when it comes to constitutional authority. but that reminds me a little bit of the key circumstance, this is a predicated upon his desire to play well in the paris talks that come up at the end of the year. when you get political diplomacy and to be a world leader and to stake out a claim for aggressive activity sometimes those are things that are not consistent with the national interest. i think that is why you have already bipartisan opposition to the announcement even absent full awareness of what the details will be and what the implement schedule would involve. >> every time i raise these issues with my contact of the white house which are now down

to the white house chef and but they say well we're so monstrous then look at marts they're soaring. look at the recovery. it is going full throttle we could debate either in what is kat list behind it. but now we have this beg advance today. we've got all of the airlines stocks up even in the face of possibly paying a lot to address these new epa emissions requirements, so if they're worried if they're panicked that this is so disasterrous it is not popping up in the markets. what do you make of that and what the administers says it ain't us, we ain't that bad? >> well when you're talking about a proposed regulation that would be fully implemented after a decade, i don't know that you can expect the markets approach to the next quarter to be driven by that. so i don't think the market is the most relevant factor here.

also, they seem to want to justify activity based on its impact or its receptivity to the public in one way or the other. constitution should come into play in sol cases like this, if the president is absent, the authority to do that which is proposing to do by regulations, they're going to be individuals in the congress with the united states respectful enough of the constitution to call him to task on it. and the courts that have ruled won't be the only courts to rule in this matter in these matters because if he's outside of the limit of the constitution he'll be challenged. >> what did you think of his remark abroad for the g7 summit about the supreme court. you're taking about the health care subsidy case almost mocking the fact that they took it up. do you think that as "the wall street journal" editorial said there was a sign he knew that court was going to rule against subsidies and he's prepare his post court fight? >> well, i don't know about what

he knows. i would hope that he doesn't have a line into the court that would leak to him. the outcome of court cases that would be an anomaly and not sense franklin roosevelt do i know that the court has had that kind of interplay with the president of the united states. but it reminds me a little bit of the old saying in tanony hall they said what is the constitution among friends? in other words if we and our friends want something, we can get it done. and let's not be troubled by the fact that constitution has protocols that should be observed here. this president seems to be very intent on fulfilling the achievement deficit that was obviously in place awarded nobel prize before he even became president. becoming president, and now he seens to do on a global bases is things that he might believe would fulfill promise which was reflected then at that time with

a nobel prize given before there had been any achievement. america is really looking for a president of the united states who was first for the united states rather than a president for the world who was first interested in global, global restrategies. >> all right john good seeing you. thank you. very mindful all of the procedures and policies in place as soon as today. same day that administration has indicated it is beginning to commit 450 new troops to iraq in a noncombatted role. all of this as we continues to surge at the corner wall and brod dow is up 250, more after this. this allergy season,

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>> all right we do know that the white house is going to be busy

proposing some things that krit i think so say constitutionally you cannot do but also scrapping things that congress and others wanted to do. including a new f faa attempted it a transportation billion to improve hiring practice the at the faa adam shapiro on that story with the very latest. adam. >> this is the transportation housing, appropriations bill, and an attempt passed quite considerably last night in the house 240 to 186 an amendment cut off funding for faa penalty test that was a fox business expose of the chaos and air management of the faa that brought this attention to the nation. it was also recording that fox got that shows not only were people in the faa cheating giving answers to this key test to become an air traffic controller but that this reaches all of the way into the faa very high up. now faa refused to respond, in fact, they haven't responded to

congress and they have until the ectd end of june so this amendment passed last night cutting off funding to kill that personality test, neil. >> all right thank you very, very much on all of that. in the meenl time getting word from moody big rating agency here that -- it is not a after given reprieve to fund a budget short fall in the pension fund in the state. but former -- new jersey mayor steve lonegan says this is hardly reprieve fiscally for the state now steve your argument has always been that -- that is what is governor christie and new jersey's biggest, biggest problem right now. this entitlement issue funding it because it is unfunded liability that just grows and grows and grows meanwhile back to fight another battle doesn't improve things. >> what this demonstrates is new jersey has one foot on the

fiscal banana peel we've seen increase of spending under this govern and we have a massive short fall in the state pension system. now court was absolutely right near the decision. the government has passed bill in the legislature had no rights to have future legislature of the taxpayers with this massive pension liability unless we the people of new jersey vote for that. that is what the state constitution says so there's a decision for one of the liberal state. supreme court in new jersey was correct. as moody pointed out in rating of nine downgrades under this governor's administration is that this does not address the fact that we're approaching an ill liquid situation for pension 2004, a huge problem for the state of new jersey. >> it has obligations for retired workers simply cannot meet. when the governor tried to do this he got confessions from some of them and then he

promentsed that he would fund this pension fund for a year to conditions change in the state. he couldn't do that. they said he broke good faith that he lied to them. so i'm wondering whatever your views on this subject, is that a good environment in which to go back and negotiate with a governor who many feel abandoned. now i understand all of the reasonings here. but moodies is saying, look, we've not done anything and we've seen nothing out of you in new jersey to improve this situation. state workers in new jersey can't sit across the table from the governor and trust him he did not live up to his only gays when he passed landmark bill to revamp the state's pension system which by the way he talked about at the national republican convention and now that hasn't happened. uctd have predicted two or six years ago that this is where we would be. new jersey pension system is most lucrative pension systems in the country. people in the private sector can

never expect to get kinds of pensions new jersey states workers get. and this governor should have been moving us towards 401(k) six years ago now on this desire benefit system. >> too late for that. you talk about nine things in the credit rating it could be coming if not for moody and some of the others who are circling wagons as we speak. >> i would say next one is coming while it might be -- would have been better to do it later it is better late than never. new jersey has to move towards flowing out of the benefits plans and this governor should leaded way on that. he has time to show us what he's made of. he has six years to do and hasn't done it yet. we have a 6.5 unemployment rate above national average and we're facing a massive pension default in the very near future. >> tough state. >> i lev in it. all right thank you. good seeing you. corner wall gong on here. bug runup in energy might be asking yourself markets are up.

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>> all right after a four-day slump, today a little bit of sizzle what is beginning on on wall street? >> looking for deals not sure if we're finding big once but one of the ones we may see forward is the strength we're see of financial stock banks and other relative names that would make sense if they group. stocks are better today. to draw a few stats at you other than the fact that these stocks behind me are all green. high test since on the first today. interest rates go up, remember that is really all that has been talked about at the market today and the conversation is changed mark down four days today bounce

back. normalization of the market back to an environment of where we have normal interest rates still people are talking about it. as we get there you expect stocks to continue to do well. jeanine pirro morgan record high today. banks are doing well. see physical this continue bus that is a sensible trend if you think about what we've been talking about in that picture. >> count intuitive when you are worried about interest rates going up. they go up, because the underlying economy is right, improving but i guess they don't want to go up so much that interest rates are hiked by federal reserve. ferght they won't tell you they're trying to mangt stock market but boosting the stock market for so many years they have to do that or -- things could get ugly. >> all right it is that balance. thank you very much. one of the top investment strategist on the planet with how you play this. do you buy today or hold before today? fair, balance, the bull, the bear, after this.

of worry. a lot of people are worried and the market is still going up, the market average living is true -- george soros and carl icahn and big money guy andrew schwartz all saying the market collapse is imminent end fay dunaway why people and driven to this market. intel's us something folks are ignoring a warning or are convinced we will continue climbing the worry. bob dahl, asset manager, you have heard these big guys saying be prepaid. something that is coming. i you in that camp? >> i am not. i do think earnings will improve in the second half of the year and that will permit stocks to go higher. having said that, each is these guys bring up, steve schwartz

and most recently, liquidity the shoes in the fixed income markets. we don't have an answer but we have every right to concern to discuss the issue. bernard: 1 of the things they raised to a man, the notion that underneath the market averages we have a bit of a bear market going on, one in five stocks in bear market territory, 20% or more of their high, and the bad development goes every time it happens, a bear market ensues, do you buy it that? >> not necessarily. the market is not as healthy internally as it might have been in 2012-2013 but if you look get these numbers and percentage decliner and new high, new lows,

we are nowhere near that 2007 areas of vulnerable. market--is more volatile, returns lower. i don't think we have seen the ultimate high yet. neil: if it has not been high yet percentagewise how far away is it. and if the consumer sends his money. and the second half will be better. neil: thank you, someone that if he is right might continue for a while. if you hear the bearish

arguments you hear washington noise. new overtime rules, doubling in the minimum wage. and explain what the administration wants to do. demand employers pay overtime to workers making 52 grand a year double what the proviso is now. you say that will chase away jobs and lead to layoffs, that is your fear. >> that is my fear. there's a perception difference, government can simply print money on their own. businesses can't do that. there is increased wages. we see job security and opportunity. and they are being forced out.

and try it out and learn as they go and move forward. neil: has it not been adjusted, this $20,000 figure, not been adjusted for inflation, simply not keeping up with the times and it should be corrected. the argument is at least hear from the white house to take advantage of. >> if their ideas would have worked we would not be in the situation we are in now where the upper class is doing extremely well, the lower class is hurting in the middle class and be destroyed. the industry itself will make sure people are cared for to the greatest extent but we have bad actors on either side but the majority are attempting to make sure their employees are the full list they can be to foster growth in the company also. we see that in the food industry

and all industries and with government stepping in and doing arbitrary things that won't help. neil: this does not require congressional approval, this happens by edict with the labor department which the white house is pushing for. we should explain again what it would be. this would kick in and you get time and had in excess of 40 hours or every hour you work over that for rapid $52,000 salary workers. over time would kick in all the applause to that level. lisa says this would be a job killer, david said it would do just the opposite. you are concerned, employers change their schedule, and workers don't kick into overtime, preventing them having to pay this overtime. >> absolutely. what do you expect businesses to do? catch goes into one pocket, comes out of another. businesses make tough decisions

like increasing the minimum wage. they don't want to pass costs to extend sumers said look for other ways to shoulder the burden. what do you expect from a president who has been anti business? across the country that you wouldn't build that. you don't bills--an onslaught for obamacare and looking to increase the overtime threshold. expect this from president obama. neil: not a fan of the president. you say this is not as damaging to business but a lot of business men on any political stripe would look at your vested interest and try to cut their costs. they might change some schedules. >> i think it would increase business, the earlier point made by lisa this is not an anti business president when you have 12.6 million jobs being created over the last 63 months, that is performance we did not see

during the bush year and to your question i think even if, all when you have this new rule take place, if there are employers foot wish not to pay overtime and instead get the work done by hiring you get an increase in hiring. neil: you can have everyone working, more people working under 40 hours, the same number. >> you have to hire people to make up for not paying that over time. >> what are the quality of those jobs? neil: go ahead. >> the problem is what are the quality of those jobs? they will be lower paying jobs and businesses will look to move people to part-time jobs. what are the quality of those jobs? >> paying jobs. >> we economic growth under obama, and -- >> just said 5% growth since the first quarter last year.

come on. >> los work force participation rate of the neil: we have -- >> 1970s -- neil: the latest quarter was registered. we will see what happens, hope springs eternal. to the white house's point this is an nerving wall street has a funny way of showing it, wall street raising the record because it doesn't think this will amount to a levines, who am i to say? what does the pope say? that my to judge? we will find out.

neil: today we have the dallas advancing 255 points. the beneficiaries hitting old time, starbucks and netflix,

jpmorgan, a lot of stocks are well into bear market territory, they corrected at least 20% from their highs though the market gives and takes. all of a sudden higher interest rates defense for the day. >> angela merkel looks like it will come to the rescue again. the germans work really hard so everyone else can see whenever it they want. i don't know how germans feel about that. if you look at this market rally and what happens to bonds, a lot of people in your last segment, how long this rally can continue, i think a lot of it depends upon the fed and when they will pull back, that has to happen sometime soon. neil: when you see to connell mcshane's earlier report, east

treated generally with a caveat, the federal reserve would come in -- >> this is one of the tightest trading ranges we have seen in years. we haven't seen sideways action since 2011 and back then you have the fed making its moves so what i am watching with double on capitol ceo, he sees zero, no rate increases from the federal reserve this year and hourly wages, magnifying glass to see those hourly wages going up if you want to convince yourself, a tight trading action, take is leading the way and so is our oil stock. >> please make the point about a tight trading range because when the market doesn't known to the points you are inclined to say this is a huge day for stocks with perspective, so we go up 250, it is that big a deal.

and normalization. and whatever normal level was, we haven't been there for some time. we have days like this because we see it go one way 100 points we are out of that trading range. >> the other side of the argument, so much pressure on the fed. the jobs picture improving so much, we know a lot of jobs are part-time jobs, not full time jobs. there is a lot of pressure on the fed to step in. adam: as the year. >> i wouldn't be surprised if it was something before the beginning of the year. seems like that is back on the table. more people sounding the alarm, you had it for so long there is no ammunition if god forbid something happens to the economy because they had rates -- >> created deflation with no

pricing power for a company. what is interesting, the dow transports, they look like they are in correction territory. neil: lot of people are big fans, that average goes, so go other substantive -- >> and economic bellwether, fedex and ups and dow transports, an important thing but transports are working their way down the leaderboard, rich in correction territory everyone looking for signs of the next market crack up, the canary in the coal mine, i like this indicator i watched very closely. neil: the indicator -- >> like to look at it. neil: real quickly, we have gold sprinting ahead, oil moving up, gold moving up, prices moving

down, they all can't be in sync. >> wouldn't make sense. it seems kind of counterintuitive as long as what we were talking about we don't get into a position where the federal reserve surprises us or does something earlier than we think we are not in a horrible spot here, a kind of teasing our way into normal territory. unless the fed does something that jumps out ahead of us and surprises people. >> they are worried about the politics of it, not supposed to be but if that is the case without question they won't do anything without telegraphing it. the economic conditions will force them to come in sooner than anyone anticipated before. neil: running out of time. getting old. >> you are, i am not. neil: it was really nice. >> you call the old? neil: i did.

neil: we will talk about triple crown horses. after this.

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neil: still looking for the guys who broke out of that prison. jeffrey schwartz is with us. you get asked all the time where do you think these guys are. with $100,000 bounty on each of them. making progress or more eyewitness reports, scant few. where they could be. >> i don't know. if i knew i would get the reward. neil: i hear you. obviously a lot of hell you suspect on the inside route side. >> at least on the inside the reports are suggesting there was staff complicity, that is how they got the heavy equipment they used, government soaring

the prison. it involved heavy equipment, how did they get that. it is through staff complicity. very serious security measures. neil: do you think someone else was picking up once they got out of that manhole cover and were out on the street and someone else makes them as well. >> i don't know it all. story suggested the lady they think may have been complicity was going to pick them up and backed out at the last minute. that may have led them to have to do this on their own or perhaps they had a backup plan. these are capable inmates who planned this carefully. neil: prior to the breakout they were on this honor block for good behavior. by definition the rules are less onerous for you. you are allowed a little more freedom. do you know anything about that or what difference it might

make? >> in this case it may have made all the difference and it is the bit of a surprise because usually inmates with heavy, serious escape histories are assigned to administrative segregation and they are not given access to things like honor programs, lack of careful supervision and lack of restricting these inmates's access to things like power tools may have played the crucial wall along with staff involvement. neil: do you think other inmates knew what was going on would have ratted on them? >> it is likely they did not know and this was carefully planned by the two inmates. most escapes often, at least often escapes, other inmates to find out and they say something to staff and the escape attempts are stopped. the best escape attempts meaning the most likely to be successful

are by a single in may or perhaps two in me to where they are able to keep their mouths shut and do it in secret. neil: thank you very much. to american pharaoh and what happens now after winning a the triple crown to trainer bob after word on what happens now. a future could keep racing. for next year's triple crown but for a while, i was reading this, four kentucky derbies, six preakness, as we do belmont stakes, two kentucky, you have a good gauge of what could be this horse's future. >> they left me in charge, now i feel more pressure, should wrap

them in bubble wrap, so incredible, just a gift and i can never win the triple crown before they had three tries at it. and actually did it, they didn't think it would happen. it is the little kernel of doubt. i am happy for the horse because what he has done, a superior race course. neil: few more races i am told, would you recommend as a trainer, still young horse, still race awhile? retire on top. >> as long as he is healthy and trained well at the top, we have a race column readers cut in the fall. and big races.

probably hopefully -- we are going to run a couple times before them, they all ran after the triple crown. as long as he tells me, he shows me he is 100% healthy you will see him again. neil: congratulations to you. we have the midas touch. congratulations to you, we will see what happens. >> thank you very much. neil: we are just getting news that an official, 180 the number of americans who tried to join isis or might already be a part of isis, keeping an eye on these markets as well and keeping an eye on how it flies, you think the seeds are tight, you should see what they plan to do for your bags. i warn you about this, you didn't listen. i told you to fly commando. you could save yourself a lot of

trouble, not necessarily the guy in the seat next to you but you would save a lot of trouble. stick around. much more.

>> it's the epa has ruled that airlines have to control thyromissions, how much? they're spewing out in the area, they said that airplanes

themselves account for about 10% of omissions on the plant, and that means you're going to have to do your part and it's going to show up on your target price. and if if that's not insulting enough for fliers, fox business lake berman on that at reagan national airport. scott. >> hi, neil, good afternoon to you. this is something you might want to consider if you are trying to purchase luggage coming up in the near future, the international air transportation association, the group that basically oversees a couple hundred airliners all over the world has proposed new guidelines for carry on luggage. let me somehow here what we're talking about. this is basically the type of carry on luggage we are used to. you can see, though, this over here is a lot smaller. this is what the new guidelines essentially are. makes a difference, you know, when you put them up next to each other, especially when talking about a trip that might last more than a couple of days. now, the reason the iata says

this is part of the new guidelines is because they save every person where to put this luggage up in those bins above, they say everybody would be able to get their luggage in the flight on time. but passengers as you might imagine are a bit skeptical thinking whether or not this is just another way to introduce new badge fees. take a listen here. >> are they going to charge extra now? is it going to cost me a lot more to fly? that's a huge inconvenience. >> i would prefer for them to stay at least where they are, making them smaller would be tougher to impact. >> in all honesty, i think it's pretty good, i got whacked in the head one time because the lady couldn't put in the storage bin and wheels clocked me in the head. >> well, several airliners are on board and they believe more will come online in the future. the faa says, though, at least here at home, it is up to a

individual airlines decision as to whether or not they will implement this, neil, and several airliners we talked to today say they are watching this but no changes as of yet. >> but as far as i understand, those would be rules that apply to all because different airlines have different standards, but these would be rules everyone would have to follow then. >> well, the guidelines here are from the organization that oversee about 260 airliners all over the world, so this is kind of their broad game plan saying if you use this bag, everybody will be able to get it in up top. not every airline, though, has to sign onto this, so here at home, the faa is saying, you know, each airline will have their own say, and one of the trade groups that we got a response back from who represents domestic airlines points out the fact that this would be anticompetitive if you just have a flat system across for every single airlines badge, and they say that's one of the reasons

these airlines might not go with this. . trish: all right, thank you. washington d.c. i told you, folks and you didn't listen, fly commando, i mean you avoid all sorts of fees. maybe some raised eye browse, but you do avoid all the fees. lauren simonetti keeping with this airline, stocks, they're going crazy. the airlines themselves are doing just fine, aren't they. >> finally they're having a good day today, neil. they need it because we have these over sold conditions, i was looking some of these airlines over the past month. southwest down 19% in the past month and 17% in the past year, they are seeing relief today, but isn't it ironic that this is happening as they raise airfare? jetblue hiked airfare. southwest yesterday after their major sell that broke the internet last week, they decided they're going to hike fair. not by much. $5 each way on select markets,

and they say it's a small percentage. united has matched that increase. so there you have it. a $10 increase on most carriers round trip. i want to know why. yes, their share prices crumbled and some have key revenue fixes will be weaker, but if you pull up the chart, you look at the airlines global profits, you can see on the chart that -- well, look for this year, 2015 they're expected to nearly double from last year. 29billion. >> and a lot of that is fees; right? >> yeah. >> so they're profitable. why are they lacking fairs? jet fuel? cheap. demand. up. >> you travel a great do. >> i do and the average airfare is $450. >> so even the jeet goes up. >> yeah. i don't know fitzgerald makes me annoyed. carryons, you're going to pay to use the bathroom next. >> mean wheel we're just hearing as lauren and i were

speaking about los angeles has expected formally hiked that minimum wage to $15 an hour. one guy voted against this. one guy. we have it. next. vel. vel. it really opens the passages. waiter. water. so why would you invest without checking brokercheck? check your broker with brokercheck. suffering from ringing in their ears, there's no such thing as quiet time. but you can quiet the ringing with lipo-flavonoid, the number-one doctor-recommended brand. relieve the ringing with lipo-flavonoid. to breathe with copd?ow hard it can be it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier.

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territory, back above that 18,000 mark just barrel, yes, we are and oil stocks are helping to lead the way. the price of oil moving higher today, there's exxon mobile and chevron, and the interest rates, they've been heading higher today. in terms of individual companies, some you might recognize, we'll mention a few today, the ones trending here they are. poppa johns because we all like pizza, and coffee as well, because starbucks is doing well and jp morgan. speaking of those financials, having a terrific day today, an all-time high at 68 and change. more on neil for cavuto coast to coast. next you are looking at two airplane fuel gauges.

can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline, a 1% difference could save enough fuel to power

hundreds of flights around the world. hey, look at that. pyramids. so you see, two things that are exactly the same have never been more different. ge software. get connected. get insights. get optimized. . neil: all right. as you know we're still waiting to hear from the supreme court on this heth care ruling and what's at issue with these subsidies that helped 8 million americans get insurance through the so-called affordable care act. obviously if the supreme court rules it's a no-no, it's no longer affordable for them and they're going to be in a focal what they do for health care coverage, and said that he's surprised that even the supreme court is taking up the issue. nonetheless the supreme court is -- we have congressman kevin brady joining us on what the back up man might be should the court strike it down. where does it stand and what do you think happens?

and obviously a lot of folks seem to think the court might throw out the subsidies, so then the next question is what do you do for these folks who got insurance tanks to those subsidies. >> well, you know, the key question is the court rules in the irrelevance what happens next? is the president take a my way or highway approach? or will he work with the republicans in the house to find a long term solution? we obviously believe he should work with us and our approach is going to be one to make sure that no patient is left in the alert because of this horribly written law. and secondly those with pri existing illnesses, young people want to stay on their family's claim can do so. but we want to give state an option to terrell more closely to their families ask businesses than this washington one-size-fits-all approach. we think that's a long term solution. . neil: and the other is this keeping whatever is in place,

in place, at the beginning of 2017. in other words, you believe with the hope that being a new president comes in, whether it be democrat or republican, and the different russia's ironed out, obviously republicans hope it's a republican president, but what is your thinking on that and what it is to do now. >> if you want to make sure that they're not in alert and the states have a chance to consider an option that's more tailored to their families, i know our legislature just finished and we won't meet for another year and a half, so we have to look through these options and decide the right way to go. i think that's step one. but when i asked secretary about that today in the hear hearing, if the president would support that approach to work through a by partisan solution, we just didn't get a

you can answer. neil: all right. is it your sense that she did have a back up plan or just hiding cards? >> no. i think that their only plan so to hope. supreme court rules against the letter of the law and i think they can take an obstruction my way or highway pass it or else and i think that's the wrong solution for the patients. neil: all right. we'll watch very closely, congressman. thank you. normally the supreme court decisions is there every monday. so the expectation is that this one would come out maybe next monday or the monday after. there's no way of knowing. in the meantime there is a way of knowing what is going to happen in los angeles for minimum wage. it is indeed going to go up to $15, every one but one voted for it. except this guy, mitchell, he tried to fight it. councilman, good to have you back. your fear is that it would actually cost the l.a. area a lot of jobs. do you still fear that now.

>> yeah. i think the potentially is really there. i mean bloomberg said it best. this is l.a.'s big minimum wage experiment and what happens if this experiment fails? also the nonprofit charitable communities are going to be crushed, and they testified to that. local and small companies are going to reduce or possibly discontinue worker protections. health care benefits, it's going to be a major impact. my biggest concern, though, is that it's going to create this unfair competitive disadvantage here in l.a. versus all the other local cities that are around our communities. neil: now, the argument for it as you know from a lot of your colleagues, well, who would ever want to leave our area? it's such a great area, sufficient such a great city. no one, even with the higher cost is going to want to get here for the prevention parts east. and i thought that was a bit arrogant, but i was shocked that that was the only security that they were clinging to.

>> well, i'll tell you right now, neil, this is the best town and best place to raise a family in the world, but having said that, we also have to provide jobs and we can't put it on the backs have job and address job providers. the city being didn't have any skin in the game and we should give more tax breaks, so we can make sure that this good jobs are going to stay in l.a neil: were you surprised that some unions wanted their own for the $16 minimum. >> no. i. surprised because that's what they do. that's their mission; right? that's their objective and i don't fault them for their own objective. neil: yeah, but if your objective was to say you've got to double it, i've violated an oath -- >> well, every january he. neil: i was right. >> so the thing with this too is this -- in some aspects will help minimum or low profit margin type jobs, but it doesn't really do much to

increase the middle class. so we've got to make sure that we have an educated workforce, to bring back trade training and shop classes, i have a grave concern that it could cause more harm than good. neil: all right, mitchell, we're going to watch very closely. thank you very, very much. >> thank you for having me back on, neil. appreciate it. neil: so it's official, they've got a $15 minimum wage. we'll see if it does any damage, and if you're along this market, nicole on that. >> well, look, we're back at dow 18,000, the dow is up 237 points, neil, so the 401(k)s and ira, they like this. so i'm going to give you three reasons on wall street why we may be seeing that bounce. first of all, it's a bounce back. we've been down four days in a row on the dow, so we're seeing a pop. 465 names under the influence s& s&p 500 actually have up arrows. many are hitting some highs.

now, there have been reports of two things. one that the ecb is now extending the cap on how much greece can take as as an emergency and the second is that they're getting closer to a deal, maybe getting greece to agree to one of the many list of things that accredite accreditedders have been hoping for. and last but not least, the oil rally, we saw a six-week draw down where they're taking this supplies and using them despite the fact that we're at production highs. and so that's what we're looking at. i see technology up there on the board. it turnouts that's the number one performing sector followed by financials and health care . neil: all right, nicole, thank you very much. they're having a bit of a rally today. we always step back and look at this in the big picture, and that's the dow that's back to kind of where it was at the beginning of the year. these are important, up or down, and we'll follow them. when it's new, then it's big

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neil: all right. now it's all about the greece and maybe it will live to fight another day or to argue its debts another day. trish on the rally that seems to have a lot of different excuses. >> oh, i know. you know, any excuse for a rally today. but, you know, when i think may really be at the root of all of this, optimism that we're seeing today, you know, is the fact that you've now got the european central bank coming out and say they're going to extent what they were offering to the greek bankers, the $2.6 billion. now, the reason why this is significant, neil, is because

effectively it's as though the ecb is acting as the fdic, the federal depositors insurance corporation right here at home that basically insures all of our accounts up to a certainly amount. and this is what greece had been lacking; right? if you have money in a greece bank account, do you think you would want to keep it there right now? so they're very worried about bank runs as a result. this is an important step. neil: what you know what's so weird about it though, it's such a badly maligned company. no wonder anybody would want to be in it? and we all go through these hoops that, well, this is all about the b keeping greece in it, i know the theories are that if greece were to be forced out or bow out that other countries could follow, portugal comes to mind. but why should we care? >> well, i mean the fear is of course of contagion, if one

goes, then another goes and another goes and before you know it, you've got a 2008 in europe, which is eventually going to hit us back here at home. and, in other words, this is a false union. let's face it; right? they need an alexander hamilton, and they don't have one right now, and so unless they become the united states of europe, and unless germany is willing to pay for the problems of greece and the problems of spain, then they don't really have anything because you can't have a fiscal union without having -- or a political union or excuse me a fiscal union without a political union there. so that's really the challenge. and we care because if it falls apart, it could be pretty painful in term of their economy and muss enthusiast our economy,. neil: yeah. >> if you're an investor over there, you ought to know by now, we've been talking about for every. neil: i know. i know. but i like the german minutes, we think greece is going to do

this, if we know it's good for them. i mean really? do we really use language like this? trish, thank you very, very much. all right., well, the markets are rallying, and this is among of the indicators today. follow very closely, david as well. david, do you think that -- let's say obviously this helped greece -- greece won't hit the skid. but what if it were? what would happen? >> i like your image, don't let the screen door hit you in the butt as you're leaving, i don't particularly care, but there are a lot of banks. >> that's right. neil: debt over there, and that could cause a contagion. neil: you're invested in the. >> i agree, and maybe thinking about something to pay a little bit of the debt that they owe. it seems ridiculous. there's no way -- they have bonds outstanding of 13%. that means their economy would

have to grow 13% just to pay off the bonds. their economy is about flat. it's not going to grow enough for them to pay back the bonds, so it's not going to work. neil: yeah. >> it's not going to work, that's why this market rally -- it doesn't mystify me because the -- frankly there's a lot of pin up demand and cash doesn't like to just sit around, which is what it's been doing the last couple of days. that's why they're hanging on every positive note, but i don't think this rally lasts. neil: one of the arguments is just that we're the default choice. we look great in comparison. >> you have to go to that right away. yeah, probably i mean and we've been having that argument for a while. we've been giving this some thought since we came on the air at noon, and these kind of days, they almost make me feel uncomfortable because us -- well, that's another story, us financial journalists. >> i'm just saying. he is. . neil: well, now, yeah. >> define uncomfortable.

us financial journalists, on a day like this, we search around, and we need reasons. well, there's not only -- it's up a couple hundred points, it's not like the larger, and i think i've mentioned this ugly word earlier has changed. there's a lot of individual headlines that all these stocks hitting all-time high. there's an alibaba headline a few minutes ago, chinese company expecting a trillion dollars in sales, there's a lot of that going on, but on a macro level,. neil: what did she traders make money on trades, and when cash sits around too long, they're not -- >> but we need reasons; right neil: more aware with new regulations, now -- >> look at this. student loan debt growing $3,000 every second. i mean. >> plus the fact that earnings are down and interest rates are going up. that's a terrible combination. i think that's the worst

combination. nevertheless, again, cash was waiting around and why else is it going to go? someone said that to me a couple of years ago. neil: right. >> when this grand rally really started and they're absolutely right. neil: and what's going to happen? >> as interest rates go up, you don't want to get into bonds because bond markets going to sell off. >> exactly. but what's going to change any of this? we basically know because we know that the fed is going to do, it's just a matter of timing, and to your earlier point, they're not going to let greece go. neil: you're a little too young to be jaded. >> the cynicism comes with our age i think. what's wrong with us. neil: more after this past get rid of this guy (trader vo) i search. i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up -

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♪ neil: all right. i don't want to rain on your economic parade.

market parade. two things happened today that disturbed me. worried me. i think they should worry you. epa rules that would call for carbon emissions requirements and expensive ones on all the major airlines. you will pay for that. and a new edict that will police overtime at american companies all by department executive order, congress has no say. you have no say. that's weird. that's not good. trish regan. right now. >> neil, thank you so much. positive territory on the dow for the year. investors are optimistic about europe specifically. that germany will not let greece go. it was reported that the ecb raised the amount of cash available to greek banks by a couple billion dollars. it means europe is effectively telling greece, you know what, don't worry about bank runs. we're here. we'll make sure you're solvent. it seems like the ecb is turning like the fdic. the federal depositors insurance corporation. they insure all our bank accounts to a