the stock market goes wild over the jobs report from november...are the nation's "labor pains" winding down. in today's cover story-- lawmakers return to the hill - as dairy farms fear the farm bill is about to spoil. plus, a report on boeing's plot to build it's new super-sized jet outside of the state of washington. and before you buy a new car-- find out which 2014 models have the best re-sale value. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday. december 9th. i'm angela miles. in today's first look: strong reaction from the stock market following a jump in jobs. the government reported friday-

203,000 people were hired last month. the unemployment rate fell to 7% from 7.3% the dow rallied nearly 200 points on the news-- closing above 16,000. the nasdaq jumped 30 and the s&p 20. gold and oil had moderate changes. the sec is reviewing barnes and noble's accounting books. the bookseller admited earlier this year to overstating it's finances. shares fell 11% friday. and, the tsa reports a half million dollars in loose change was left behind at aiports last year. chris gersch of altimus capital joins us for a peek at the market this morning. what a reaction to the jobs report on friday. what is the market telling us? > >what a reaction is right. the market is telling us that if you're a seller please stay out of the market. we open up way higher on friday and we continue to stay higher. we have fantastic consumer confidence numbers that come out that continue to get higher. we had yields coming down on the 10

and 30 year causing a lot of money to flow into the equities. despite low volume i believe that we almost were able to erase the entire loss. 4 session losses on the s &p futures prior to close so i think it did just settle underneath but right now coming in monday if you are a seller i would wait to see how the open is. i would expect it to once again go higher. > >as you mentioned, volume was about half the norm. is that because people are concerned about taperiing coming because of the jobs report? > >i think that the tapering and improvement in jobs that is going to come. besides yellen being dovish i believe that taper is already set in stone. a lot of traders aren't trading right now. and we're really gonna see some traders try to lock in some gains here shortly. so a lot of people are

uneasy and not participating in the market. > >thanks a lot chris. we'll see you later on in the show. > >thank you. onto more about the fed...it's possible a vote to confirm janet yellen as the next chairman of the federal reserve could happen this week. a senate panel has already approved her for the job. now it's up to the full senate. yellen is viewed as being favorable to continuing the fed's stimilus programs. on friday--chicago fed president charles evans told told reporters he's "open- minded" to reducing the bond buying stimiulus program this month. but would like a stronger labor market first. here's chuck coppola with more from capitol hill as lawmakers from a two week break. hello chuck. angie, among the absurdities if an updated farm bill isn't passed in congress is that dairy policies would revert back to those from the 19-40s and could lead to higher milk prices for consumers.our cover story takes a look at the crying over milk about to be spilled.

take a good look. not one of these containers of milk are anywhere near the price they may be if congress fails to agree on a new farm bill. "there's hardly an aspect of life that isn't touched by the farm bill." without a compromise, the farm bill which helps farmers with price supports and provides food stamps to one in seven americans, reverts to so-called permanent farm laws, which would raise the milk price to the government---encouraging producers to sell less for the commercial supply. the result would raise prices to consumers. some say to as much as seven-dollars a gallon. but many doubt congress will let that happen. "this looks like the best chance for a farm bill in years." the biggest differences involve cuts to recipients of food stamps over the next ten years. the senate approved 3.9 billion in cuts, the house wants ten times that--39-billion and would disqualify 8% of recipients. "there's clearly two different sides on how that program should work but i'm confident they'll find a bi-partisan solution."

the current farm bill, already extended expires december 31st. but house speaker john boehner wants to extend it further, through january. there is agreement on cutting the five billion dollar annual subsidy that critics say pays farmers not to farm. wall street is bracing for a vote this week on a tough new rules to hold trading by banks in check. regulators are expected to approve a final draft of the volker rule tomorrow. treasury secretary jack lew says the new rule restricts banks from making risky bets. critics say regulations so far have failed to address the too big too fail problem.

the city of l-a is suing wells fargo and citibank for losses during the housing crash. the lawsuit blames the banks for discriminatory mortgage lending that led to foreclosures in minority communities.it says banks should reimburse affected cities for lost tax revenue. both banks say the lawsuit is baseless, and that each applicant was treated with the same objective criteria. 20 states are saying no to expanding medicaid under the affordable care act... and a new report shows-- it could costs those states billions. among them, texas which stands to lose nearly $10 billion dollars. according nbc some of the red states are taking a pass out of a desire for less government intervention. under the expansion, the government kick's in 100% of additional costs for medicaid the first 3 years. the aim is making certain low income american's have sufficient health coverage. mcdonald's posted advice on its employee resource website, that could be considered in "bad taste. the helpful hints included: for employees wondering how much to tip the

massage therapist, pool cleaner or au pair over the holidays. we wonder how many mcdonald's employees, particularly those who marched thursday fighting to raise the minimum wage face these dilemmas? mcdonald's responded by deleting the guide which had been posted by a third-party provider. now that boeing union workers in washington have rejected a contract- the company reportedly is considering spending $10 billion dollars to create a new jet factory- elsewhere. the st. louis post- dispatch reports-- boeing wants the factory for its new triple 7 x jetliner to be near a large airport. and, construction could start next november. the report also says boeing wants the site for free or very low cost. a spokesman tells us the company has no comment on the report-- but expect to begin looking over porposals from other states this week. royal dutch shell is pulling the plug on plans for a gas-to- diesel conversion plant in

louisiana. costs to build the plant were originally estimated at 12-and-a-half billion dollars. high material and infrastructure costs pushed it to $20 billion, which included a 112-million-dollar grant from the state of louisiana. it would have created 740-permanent jobs with annual salaries of roughly a hundred-thousand dollars. a genetic testing company will no longer sell certain test kits. online company-- "23 and me" will suspend the sale of "health" related genetic tests to comply with the u.s. food and drug administrations orders. the fda warns that warning that erroneous results could cause customers to seek unnecessary or ineffective medical care. 23 and me will issue refunds to customers. it will also continue to provide dna ancestory-related information to customers who provide saliva samples. diane moca joins us now with a report on cars with the best

resale value...good morning. the auto market in the u-s continues to cruise in the fast lane... but used car prices are dipping a bit... according to jack nerad (nee-rad) of kelly blue book. this summer-- u-s factories increased production... pushed by a sharp rise in new orders. "we're seeing the car market get a lot stronger. the car market is a lot stronger than the overall economy by a considerable margin. and there's a few reasons for that, one of which is the fact interest rates are low."

nerad says that's in contrast to the recession years from '07 to '09 when manufacturing was down... which led to a shortage of used cars a couple years later. now that we're coming out of that... and the supply of used cars is more plentiful... nerad says it's more important than ever to find a vehicle with good resale value. he says toyota is the best overall brand in kelly blue book's 2014 best resale value awards. the car maker placed four trucks in the top ten... including the four runner. kelly blue book also named jeep wrangler and chevy camaro as two models distinct enough to earn a spot in the top ten. and nerad said lexus was crowned the luxury brand winner... for the third year in a row. automotive news reports that the industry had its strongest selling rate in more than six years in november... bumped a bit by black friday incentives. thank you diane-- sears is spinning off its lands end division. sears has been selling assets and closing stores in a turn around effort. the lands

ends spinoff won't raise cash-- but ceo eddie lambert says will allow for a change of course. sears has been losing money since lampert combined sears and kmart in 2005. the stock fell nearly 4% friday. cosmetics company ulta is need of a facelift in the stock market. shares fell more than $24 dollars friday-- almost a quarter of it's value. the retailer reported disappointing earnings for the third quarter and predicts a tough market during the holiday season as other companies step-up competition. ulta admits its re-evaluating its long-range financial plans. singer bob dylan has a new record...dylan's famous electric strato-caster fender -- the one he played at the 1965 newport folk festival-- sold at auction for $965-million. eric clapton's famous fender sold for just under $959 million in 2004. the death of peacemaker nelson mandela is drawing a wave of tributes. president obama... who credited mandela with his own political awakening... is expected to travel to south africa for the memorial service in a johannesburg stadium on tuesday. nasa joined the worldwide praise by posting an image of mandela's native cape town taken from the international space station in may by a canadian astronaut. and the washington post highlighted his huge success in

using economic boycotts to change public policy and end apartheid. mandela will be buried sunday at his rural home in qunu , south africa still to come: trader talk on why the gold chart points to a possible breakout for gold prices... plus, a breakdown on the jobs report for november-- is the unemployment rate on track to dip below 7%...and later on ...we head to florida where employers are ready to hire americans-- but claims there are not enough available. first business continues right after this.

as manufacturing speeds up-- ford and boeing are among the companies said to be making an effort to bring jobs back to america. jackie takes us to florida where companies are hip to hiring but struggling to find skilled workers. richard peck is learning that when it comes to hiring new

people to work at his metal shop, you can't rely on what's worked in the past. i've had a help wanted sign in front of my building for 10 years, never taken it down. peck is now thinking outside the box in order to close his company's skills gap - the skills gap is a problem manufacturers have grappled with for years and it's getting worse. the skills gap indicates there are manufacturing jobs open, but no one skilled or even interested enough to fill them. despite an unemployment rate hovering around 7 percent, the manufacturing institute says there are approximately 600,000 unfilled manufacturing jobs in the us. we used to think that people didn't want to get into manufacturing because it was a dirty industry, but it's not, it's the forgotten industry. we don't have generations passing it down. and the current generation simply doesn't want to work the hard jobs of manufacturing. jerry custin of the upper tampa bay chamber of commerce says employers in this area are frustrated with the education

system. he says there's no push for students to learn the trades, but it's imperative they do, as most of the current workforce in manufacturing is aging. he says the school system is just not teaching kids how to get their hands dirty. and up through the college level, students aren't thinking manufacturing as a career. we don't have the opportunity where kids are getting hands on on things and getting that curiosity and that mechanical interest to do stuff, we have a lack of interest in those hands on things and manufacturing is a hands on sport. they're not interested because they're not exposed to it, they don't know it's out there - they go through school and it's the basic lawyers and doctors, what are you gong to be, you gotta go to college, they don't realize there's a whole market out there in manufacturing. peck is trying to spark interest in manufacturing. he's not waiting on the government or the education system. he's taken it upon himself to recruit the right workers and personally train them. he's reached out to those who need jobs, like the disabled and veterans. he's also reached out to local colleges and started internship programs. i found out you can't interview for experience you have to interview for quality. and a worsenting skills gap is coming at a time when there's a

resurgance in manufacturing. companies are reshoring, as doing business overseas is now too costly. china they're building stuff with inferior materials and now when you factor in the cost of shipping and everything else you find companies saying gees it doesn't make sense to do the offshoring anymore. for first business news, i'm jackie keenan. a recent survey from boston consulting group finds 54 percent of companies plan to or are seriously considering reshoring jobs to the u-s. coming up...what's glittering in gold? chart talk is up next. and...the jobs report trumps taper fears-- bill moller will be here next with a money manager who saw that coming. what "else" he sees" ...after this "in the know" message.

hi, i'm ben affleck, and many actors have played the part of a u.s. serviceman in the movies, but for veterans like james crosby and so many other brave men and women, his service and his sacrifice for our country are real. outside baghdad, a rocket attack blew up my humvee, killing one of my marines and leaving me paralyzed. [ben affleck] when james returned home, he, like many others, was in no condition to cope

and advocate for the services he needed. fortunately, paralyzed veterans of america's trained experts were there to help him so he could concentrate on getting well. for over sixty years, paralyzed veterans of america has worked to ensure that our injured veterans get the medical, housing and auto benefits they have earned. i'm so thankful paralyzed veterans of america was there for me. surely those who sacrificed so much deserve no less. join me in supporting our paralyzed veterans. visit p-v-a dot org. traders have had the weekend to digest the turbocharged numbers on jobs. payrolls increased by more than 200-thousand and the rate of unemployment dropped to 7%, it hasn't been that low in years. brent schutte is market strategist with bmo global asset management. and let me

congratulate you. while other analysts were wringing their hands in woe over the past couple of months, you were somewhat of an optimist thinking that perhaps by year's end the jobs picture would improve and lo and behold it has. > >i actually watched tthe old tapes to make sure i didn't wear the same tie every month. suprisingly i found september and october where i mentioned a lot of the indicators were pointing to stronger job growth in the near term. we actually have had that. and a lot of those same indicators such as manufacturing are continuing to point to stronger growth in the future. you have seen export orders tick higher, new orders tick higher. in fact, this month manufacturing actually added 27 thousand jobs to the payroll. > >where will we be in a few months? do you see the trend continuing? > >sure. last year i mentioned that i thought 2013 would look a lot like 2012, and it actually did. this year to date you have had 2 million 74 jobs added. last year you had about 2.2 million jobs added. we have one month to go so they should be about the same. the unemployment rate last year fell

7 tenths. this year it fell 8 tenths. this year looked a lot like last year. just one add on---we are about 1.2 million jobs away from getting back to where we were in 2008 for those who are still worried about that. which means we're 5-6 months from that time period. > >we have more people looking for work which is another positive. > >absolutely. the participation rate did tick higher. i think 2014, to make my prediction which i kind of danced around there, is actually going to be stronger than 2013. one of the big reasons why it's going to be stronger in my mind is because the fiscal side of the equation is now not going to be as big a headwind. washington political dysfunction has hit a high and i actually think that's going to start mending a touch. you are actually seeing signs of a 2 year budget deal which i think would be helpful for small business owners looking to hire. > >republicans and democrats are both saying that they're moving forward on something. it may not be a big deal but it may be something that they can both pass. > >and it doesn't have to be. the that has held back small business hiring which is now starting to show signs of increasing was the fact that they didn't know what the rules were going to be. so if you look at what they were pointing to as

their biggest problem and the reason why they didn't expand, it was becoming more and more government related. 34% of small business owners said that was why they weren't expanding. that was basically zero back in 2009. they're not citing the economy much anymore and so i thnk going forward you're actually going to start seeing hiring. > >ok, i'm writing it all down so we can hold your feet to this next year. > >it's all on the internet unfortunately. > >brent, thanks so much. chart talk is next.

talking to veterans about the real issues they're dealing with can be awkward and uncomfortable. we think to ourselves, "i never served. how could i understand? they'll talk about it when they're ready." and then we wonder why they don't want to talk. but when their behavior changes, when they withdraw to themselves, increase substance use, or even talk about hurting themselves, it's time to act. because if we don't, our families and relationships will suffer.

ask the hard questions. listen to the veterans in your life and show you care. make the call. it matters. when you recognize a veteran is in crisis, call the veterans crisis line at 1-800-273-8255 and press "1". in chart talk this morning, chris gersch is back with us now to talk about a triple bottom in the gold chart. good morning to you. > >good morning. > >is a triple bottom a sell signal or a buy signal? > >it's typically a buy signal. anytime a future contract or even equities and sometimes currencies even hit the same level of resistance or support that's either going to be a sell if it hits on the triple top. it would be a buy with a triple bottom. > >explain deeper what that

means. you see these low points. what points exactly are you watching for? > >so the lows of the day---if the lows of the day for consecutive days continue to test that same support level, this means that there is an obvious layer of support whether it be a strong buy, an institutional level or even maybe a macroeconomic situation occuring where that certain level is held up by the buyers. that in fact lowers a risk of anyone that wants to take a position to the long side knowing that if that level is breached that they can quickly get out. if that does get tested again then they are limiting their risk to a very small portion and therefore if you know your risk, you can amplify your reward. > >what support levels do you see specifically in the gold chart? > >we see the 1210 level. it hit that on the february

contract on friday. today i would expect if it gets down to that level, to once again bounce off of it. so a day trader or someone that is a professional that is going to be taking a position they can lean on that level. and so it's hit that 1210 level 4 out of the last 5 trading sessions. so in fact it's a 4 bottom but we call it a triple bottom because we don't want to talk about every time it does hit that level. but the triple bottom is a great buying point. if you are a buyer on a short term basis at the 1210 level in gold. > >chris, thanks for that quick lesson. we appreciate that. > >thank you. don't miss our show monday. a pro trader will be here to explain how he uses his trading skills to get great deals on airline tickets. from all of us at first business, thank you for watching and have a great start to your week!

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