more business news, david asman is on the network for all numbers and all things crunching ♪ ♪ >> from payer bailouts to big time payouts. government report showing fannie mae and freddie mac employees are receiving more than $200,000 in compensation. this is taxpayer money. the agency say this is necessary to stay competitive. the in f that is the case is small price to pay that bailouts are waste of money. i'm david asman and let's go focus in in with steve forbes and rich and elizabeth mcdonald and john tandy. is this proof that bailouts don't work? >> what it is proof, you shouldn't have the government in the business in the first place. that is how they got bloated. government guarantee and that is why they can pay these outrageous salaries. if private companies, they would be allowed to go out of business. no bailouts, let the markets work. let these guys, either liquidate them or privatize them. dave: top 90 employees at fannie and freddie, that is lot of money? >> i'm not going to support that kind of salary to anybody working in the government but i'm not sure it's indicative

more business news, david asman is on the network for all numbers and all things crunching ♪ ♪ > from payer bailouts to big time payouts. government report showing fannie mae and freddie mac employees are receiving more than $200,000 in compensation. this is taxpayer money. the agency say this is necessary to stay competitive. the in f that is the case is small price to pay that bailouts are waste of money. i'm david asman and let's go focus in in with steve forbes and rich and elizabeth mcdonald and john tandy. is this proof that bailouts don't work? >> what it is proof, you shouldn't have the government in the business in the first place. that is how they got bloated. government guarantee and that is why they can pay these outrageous salaries. if private companies, they would be allowed to go out of business. no bailouts, let the markets work. let these guys, either liquidate them or privatize them. dave: top 90 employees at fannie and freddie, that is lot of money? >> i'm not going to support that kind of salary to anybody working in the government but i'm not sure it's indicative

dennis: we have senator smith, charles payne and hour after the bell host, david asman with us. it. art noland is the guy to talk to their. what does he think the unintended consequences of low interest rates are quick select it is encouraging gambling in the housing market. obviously, you have your home values worth less. your stock values are worth left. charles: i think that bernanke would say the exact opposite. first of all, he wants your home value to a play. he wants your stock market to inflate. he wants people to gamble and he wants people to buy houses. the cycle that we go out and spend. spending crewmates demand for jobs. >> i would ask him when his mandate changed from the unemployment to boosting the stock market. you cannot do both. we saw last week when citigroup announced it was cutting in place. their stock went up. sometimes you can increase the value of your stock by firing people. the mandate is to keep unemployment down. not to keep the stock market up. cheryl: he has addressed that. he has not. you cannot be in favor of boosting the stock market when somet

stuart: here's our company: david asman is with us.joining us from the floor of the new york stock exchange. but first let's go to kirsten powers. she's with the daily beast in d.c. kirsten, i have to ask you about leadership. now, we've said many times when you have joined us on this program, i think you are -- i hate to repeat myself, but i think you are drifting a little bit away from the leftists in the obama camp. i want to know, do you think that the president has exercised the kind of leadership that we would expect from a president who has just won election? do we see the kind of leadership that you want to see? >> yes. i'm sorry, i'm going to disappoint you here, stuart. i do think he's done exactly what he said he was going to do. he ran on basically on raising taxes on people who make over $250,000, and you might remember that republicans accused him of waging class warfare all through the campaign for doing this, but this is what he ran on. he never ran on cutting the deficit. he talks about it, but it's never been a centra

i'm david asman. stuart will be back tomorrow.:00, federal subsidies for wind power are set to expire in a couple of days on december 31st if congress decides to extend those subsidies, you the taxpayer will be on the hook for 12 billion dollars just for next year alone. since 92 the u.s. has spent nearly 24 billion dollars on wind energy, but get this, it hasn't gotten any cheaper, not a penny. it is still one of the most expensive ways to get energy. so we will be discussing that. let's check the big board. we're up 27, 27, 28 points. again, it reached a high of up 35 points on the dow, a little earlier this morning. it pulled back from that and then is going modestly upward as well. we're not expecting big volume today, but we have big topics to talk about with our company: elizabeth macdonald, adam shapiro they are here. nicole petallides from the floor of the new york stock exchange. more signs of recovery in the housing sector. the case shiller home price index up more than 4% compared to last year. so nicole, how are the ho

david asman is with us.s right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country. there are a lot of new rules that would be put in place. all of it is obviously for responsible gambling, but it seems to be a lot deeper than that. stuart: i've been to that casino in macau. i mean totally different from anything you will ever see on the strip in las vegas. i mean it is really really different. i will get to that a bit later. david: yeah, we're all interested in that story. stuart: i don't gamble. david: man oh man. [laughter] stuart: moving along, republicans counteroffer to president obama's solution to t

for the very latest, let's go over to david asman and shibani joshi. david: thank you very much.aking liz claman spot for the day. let's go to nicole petallides. i said hello or early this morning. at the new york stock exchange. we have seen upside down this today, but look at what happened to oil. the huge jump in oil, up

david asman getting ready for "after the bell." david: i am indeed.t llke to support rumors less to get some kind of confirmation on what is going on, but there's enough talk about what is happening with hewlett-packard, karel icon is interested to move the market. liz: first we have to get nicole petallides. we have been focusing on the gap because it is a held stock around. down 12% so far this month leading into the holidays you would think, nicole. nicole: that is right. despite banana republic and old navy under their umbrella, but is not a good sign with many other retailers doing so well coming up with numbers and sales that are stellar. david: hewlett-packard, carl icahn, definitely the rumors are affecting the stock, what is going on? nicole: hewlett-packard goo a big pop because we saw after the investor carl icahn was buying options or getting in there some way shape or form in hewlett-packard became a top performer on the dow jones industrial. liz: let's talk about other a cap tech names. this is a company that has actually found a little

it show asman in the subway train moments before he was killed after being pushed you have a the platform. >> that photo has the photographer defending himself. new tonight murder charges have been filed in that subway debt. chris has the latest. >> the man new york city police took into custody tuesday made his first court appearance wednesday. the 30-year-old is charged with second-degree murder and is leaved to be the man on the right, arguing with another man before pushing him in the path of an oncoming subway train. >>it was horrifying. >> there is also outrage of the "new york post" publishing a picture. he is the freelance photographer who went on the "toy show" to defend himself when critics saying that he should have helped the victim instead of taking the photograph. >> i saw the lights in the distance of the approaching train. the only thing i could think of at that time was to alert the driver with my camera flash. >> he says he did start running toward the victim but was fearful that the man who pushed him was running in his direction and might push him. he says there were o

let's send it over to david asman and lori rothman. david: thank you very much.t is down once again the end of a trading day. a quick trading day today because ending at 1:00. some very interesting movement of individual stocks. lori rothman. lori: merry christmas, everybody. david: talk about retail, everybody is talking about retail. we will be talking a little bit later on with adam shapiro following it directly, but jcpenney, everybody was assuming their model isn't working, we don't understand how the discount works, but the stock took off today down a little bit but at one point over 4%. speaker that is because they basically said they are doing a lot of promotions at jcpenney and now bringing in the foot traffic. you need shoppers to get in the store to spend the money. you can see the stock is still higher. lori: the government going to exit the interest in gm in particular, how are the u.s. automakers working out today? nicole: checkout ford today. the f-150 a popular truck. the automakers doing very nicely today. up over 4%, general motors one and a qua

david asman not here today, but ashley webster there. ashley: i will try to fill in. of good economic -- third quarter gdp revised up to 3.1, the market completely ignored it. we will focus on what is going on in d.c. john boehner more optimistic a little earlier, just a hit. that is why we are slightly higher. liz: a procedural vote happening, neil cavuto live with everything you need at 8:00 eastern because that is when the vote will take place that the traders watch it and so is nicole petallides on the floor of the stock exchange, standing at a place that will be changing the ownership, intercontinental -- that has to be the topic. nicole: this is the topic. monumental day on wall street. this is the 200-year-old institution and now

we will see after the bell, david asman is watching all of it.avid: we may edge close to session lows. there are some individual stocks doing very well. let's talk about fedex, we saw some nice earning reports on fedex even with the slide at the end of the day still up over a percentage of a point. lauren: b.s. would've the impact of hurricane sandy, the expectations and looking at a record in terms of holiday she rents that is probably giving investors some hope and that is why the stock is up today. liz: they're getting out of gm, current investors, now look at it, the government's hand will be out of the company moving more like a publicly traded stock. >> into the next 15 months the government will likely be completely out of gm and that is why general motors hit an annual high today. david: we're looking at a very broad fall, it is not that deep of a fall, but all the sectors are involved. looking at technology, we spotted a couple of winners. western digital and

want to thank you all, ashley webster in for me but i'm getting ready for "after the bell" with david asman. dave: the attacks on herbal life like the attacks on overstock, you will hear from both sides. as we look at a down market, important to remember last night when news of the deal collapsed in a bell with the futures were down 3%. this is bad but it is down 1%, a lot less than it was down last

i have david asman and lauren simonetti. dave: thank you very much. [talking over each other] [talking over each other] dave: from the southwest. a guy from the northeast once it low. >> it is so hot lately. [talking over each other] dave: good to have you here. we see a nice day for you to come in here. about 68 points trading up as we head to the end of the trading day and the trading week. let's go to nicole petallides at the new york stock exchange. we are going to talk about apple and a wish it wasn't bad news. i hold some apples why one of those that is suffering. it may be down almost 3% today again. nicole: a lot of folks watching old apple because of a lot of mutual-fund, that is absolutely right. it came under pressure down 2% and $700 obviously but it traded as low as $5.18 and the fact that it is close to where it is is a good sign. >> netflix rising despite getting into hot water with the sec over a facebook post. nicole: that is interesting -pbecause the ceo is coming out saying they gave this information over facebook about how many hou

david: i'm david asman, there's nicole. netflix, seeing a big pop today. a deal with disney. apparently, investors think it's profitable. >> it is a big deal here because what you can do is they will exclusively distribute disney movies through television in 20 # 16 when the current deal expires with stars channel. it's a big deal. liz: what happened with gap, and there were comments from analysts, we know that, but this is a stock that's done just beautifully over the past year or so, and, today, it took that. >> we saw over a hundred companies rushing to pay dividends, but the gap is passing on the payout to the shareholder, and they are wondering why. david: nicole, talk about apple, continued the lide today, looking for reasons why because -t started early. i was on with varney, and there was a company, about which i don't know a lot, but had a rating, a price target of $400. is that one of the thin

we have a great guest lineup including the former treasury secretary, and david asman is preparing foravid: and substantial, i -- and sam, i want to hear what he has to say. nicole at the new york stock exchange, talk about apple. it was doing well, then slipped a little, single digit dollar amount, back up in the double digit territory in dollar amount. seems to be regaining ground. >> talking about apple, you know it's a volatile, heavily traded stock. today it moved on news china was preordering 3,000 units for the iphone 5. you're seeing growth there in asia. also, the fact that j pmorgan raising projections from 8 -- to 8 million from 7 million units. liz: that's a little boost compared to rim, research in motion, trading at the highest level since may, a significant jump as we s

again, over to david asman. david: i'm not pleased about the number right here.s, but, again, flirting with the lows. we are very, very close on the day's lows, and it is going down. let's go to lauren simonetti at the new york stock exchange. lauren, who's the grinch who stole the rally? the folks inside the beltway; right? >> it's congress. it's a really bad week and bad month for stocks. this is when we have a santa claus rally, final ten days of the year are supposed to be really stroke. not the case today. you talk about the low of the session. i tracked this. we were down 170 points at the low of the session. i didn't remember seeing it, but we were. hp, a grinch itself, continuing the decline adding to its 46% yearly decline, the biggest loser so far this year i'm learning. >> yeah, it is the biggest loser on the dow, especially today, down today. this on news that the government

and i will send it over to my wonderful colleagues david asman and sandra smith for "after the bell." today, good to see you. san da: good to see you. david: jpmorgan whale trader, the senate's been investigating it. questioning as many as 80 people who may have been associated. we're expecting some breaking news any moment now about that investigation. l. >> and we'll have that for you as it comes in. david: let's go to lauren simonetti. she's at the new york stock exchange. lauren, let's start right off, what's happening? the market is down 56 points on the dow right now. dell, however, had a nice pop today based on what goldman sachs was saying about it. >> exactly. goldman upgrading the stock all the way to a buy from a sell. it was one of the best performers not only on the s&p 500, but also on the nasdaq 100. so dell certainly a winner today. >> and, lauren, we saw you wearing your uggs on the trading floor, deckers outdoor the maker of those boots, it's getting a nice pop. >> up more than 9%. the folks over at stern ag upping the stock to a buy but also saying the season of the

melissa: ware joined by persal finance expert and our very own david asman. >> personal expert. the amazing christian says he can work hisagic to fix the fiscal cliff. that's right. all he needs is an hour and a room with both president obama and the house speaker. basically he would play a denim and check on them. he says if he can bri them to the right state of mind and thugh mental suggestion and mental conditioning that will start compromising. it's a trick of like to see. >> i love someone -- it's unmanly kind of love, but i love this guy the three and a half and on my show of force years ago, and he predicted the super bo victories. unwilling. melissa: before the game? >> before the game. he lost something up in my room and did not give in hawaiian. a ticket home with me. he predicted it. however embarrassing a think he's met hisatch year. to vote - folks inside the beltway don't think logically. that's what i don't think it'll work. >> i said bring the men. given the track. >> bring the man. they can actually find that compromise. >> of love to see him in there and now he

we're joined by our very own david asman. and we have seen this video.erican shopping malls are bad? check out this scary scene from shanghai. a shark tank burst open, injuring 16 people, leaving three sharks dead. who wants to go shopping in shanghai? fortunately nobody was seriously hurt. >> they were just trying to get away. >> these are lemon sharks. it makes me wonder about those huge skyscrapers. i wonder if you feel as safe being one of those things. adam: my reaction to that, the chinese are masterful with what they're doing is remarkable, but not known for quality control. >> if you want to get something done, bribe somebody. adam: moving on to the birth, nine months this little guy will be born. they have a signed this tendon driven robot to look and move like human beings even covered in soft skinned. >> we could use those now. >> might help at the military. the scary thing for me is not robust, but the idea of humans clones. because of the declining moral standards, somebody out there will come out with a human clone. that is truly scary. the

let's get ready for "after the bell," david asman. dave: i was just thinking about apple. is good news mix with bad news on a down day but i was reading over apple's launch, launched in beijing, their flagship store in beijing to sell the i phone 5, they said it was the least eventful launch of any apple device in the company's four year history in china. that is one of the factors weighing in on the downward move in that particular stock. liz: because apple represents 4% of the s&p 500 we have read on the screen but let's talk about one of the biggest winners, j.c. penney up 15%. nicole: it has been under scrutiny for cutting out promotions that ron johnson came on board and tried to do ways of apple and products at low prices, what we are trying to realize is like promotions and getting back and doing that. dave: do they think will go into the 400s? nicole: we ridge talking about analysts, bringing numbers down, but most of the people i've talked to think it is to the upside. liz: event allen has a different story. they're selling u.s. products to china but it took a hit

. >> this is a test sandra: today we are joined by mercedes calling and our very own david asman joinse have some good ones for you. a new law goes into effect today delorme commercials much quieter. the congress finally do something right here? >> my goodness, of course, you have a remote in your hand and adjust the volume. >> unbelievable. suddenly, it is the equivalent of a bomb. we are scrambling for the remote. my i have said about this bill? i think this might be the beginning of the fed's -- [talking over each other] >> for cable companies. you know? >> they look to push other power grid i think this might be an example of that. watch out. [talking over each other] sandra: i like this one. moving on, toys for for tots is a well-known organization that gives underprivileged children present for the holidays. now, one arizona woman is hosting toys were tata's. they are entered into a raffle drawing to get free breast implants. do you think this will entice more women? [laughter] [talking over each other] >> only a former trader with a commodity experience in the united states coul

t's get to david asman. we're getting ready for after the bell.ssion highs going right now. by the way we're talking about some earnings. we have a company coming up, representing hovnanian, it is a housing stock, that stock has increased more than threefold, 350% in the past six months. he's going to be joining us here to tell us how he did it coming right up. liz: could have would have should have; right? let's go to nicole at the new york stock exchange. let's start with oracle because we're waiting on earnings from them. nicole: a lot of folks are expecting some good numbers out of oracle, also a great economic indicator, a bellwether because their quarter ended on november 30th, a good indication of how worried people were about the fiscal cliff. david: let's talk about individual stocks, on news that nielsen ratings system is going to be buying arbitron is up.

dave asman, shibani joshi turn up and we're up 10 points. take it away.it is not the number. it's the turn around. about 150 point turn around. shibani: just to show you how volatile the markets are and how sensitive they are to comments coming out of washington and any advancement on the fiscal debt talks, the talk that congress is coming back to work on sunday, that turned everything around. david: let's go to nicole petallides at the new york stock exchange. it was that talk about coming back on sunday, maybe working through new year's eve and new year's day that moved the market. nicole: we started off to the upside. we were slowly moving lower. we were down about 150 points. and we just stayed there. we were stagnant. all of a sudden, the headline crossed, that they were going to be working on a sunday at 6:30 p.m. and the market began to shoot back up. if you didn't think that wall street and washington weren't tied together, today you know for sure that investors are keyed in on washington. shibani: we're also watching four big retailers, great pie

david asman says, yet, another example of government hypocrisy. >> that's for sure.the way, the president doesn't mind pissing off conservatives and republicans, but don't get the bird watchers wrangled. they will hound you to death. the bird watchers a really upset. 500 song birds killed in west virginia at a wind farm in west virginia. neil: what were they doing? >> it's interesting. people thought they were chewed up by the blades. not so. they were trapped by the light's glare. they did circlinges until they dropped dead. if they were a gas company, forget it, they would oh hundreds of thousands of dollars in fines, but because they are the president's preferred type of energy, zero. by the way, it's not just song birds killed, 2,000 eagles have been killed by the windmills as well, and, again, if they were private sector, fine, pay the fines whatever, but they are money losing operation. they come back hat and hand, december 31st for another $3 billion subsidy, a one year extension of the $3 billion grant that they get for renewable service, and they are never g

today joining us top personal finance expert and our own david asman. a ground rule. allowed to say fiscal clef. >> oh, good. adam: we are not going there. this is a good one. teddy's officials passed a law that jewish mothers worldwide will love. requires children to care for their elderly parent. and you have to visit them frequently or you face a fine. but the law is vague. it is just -- it does not say how often children should visit. they care -- you have to visit mom and dad and take care of them. >> how will they enforce? it is not feasible. >> i do think we should be paying more attention. we should not leave them in isolation. but to enforce something like that. >> the old joke. the parent says, it's okay. >> we're supposed to have fun, but they're is a serious side to this. china has the ninth month abortions. when you destroy life on young side is not too far distance to go to the strait of the old site. i think some of that is happening. adam: do you think anybody will take that seriously? >> we will see what happens. >> is serious side of you. >> there is

let's get ready for "after the bell" with david asman. david: we have a new bill, here it is, $100 trillion. a lot of people are afraid with all the new money printing and modernization that we will start adding a couple of zeros read we will be asked a lot of people thought that in the coming hour. liz: so much volatility, possess a big win the announcement came out because equities rallied, less uncertainty, we knew what the fed was thinking and then they lost us. he talked during the press conference. what ar other traders saying tht turned them off to ben bernanke? nicole: what was really key was in the press conference he said we're basically ramping it up now and the doing all that money policy can now because in 2015 and the years ahead we don't know what we can possibly do to the fed saying we're pulling out all the guns now because later we have no idea how to save the day. david: let's talk specifics. netflix getting a huge pop even though its competitor, wayne starr launched a new service. what is up with netflix? nicole: they

. >> i'm david asman with your fox business brief and here east one crisis averted anyway.ting dock workers and shippers reached a agreement delaying a strike that could have cripple the u.s. economy. longshoremen and maritime alliance agreed to postpone for 30 days. >>> this would mark the best year for the auto industry since 2007, but experts say the gains made in december could be overshadowed in january because of concerns about the fiscal cliff. >>> the chinese government announcing stiff new rules and requiring users to provide real names to service providers. the move place as greater burden on web companies to inform of forbid inch post. that is the latest from fox business, giving you the power to prosper. we'll be right back from washington >> the white house meeting has concluded. congressional leaders are back on capitol hill right now. comments from house minority leader nancy pelosi she believes the meeting with the president and other congressional leaders has moved them forward. she said it was a constructive meeting, candid as well. she also indicated that

cheryl: the fox business all stars, david asman and charles payne in new york, sandra smith joining ust to focus on a million dollars threshold and one of the things that is market reaction, we get more of a boost out of all of this. sandra: a lot of the traders are just got done talking to are looking at the gains we are getting today saying this is giving them an indication the market thinks there will be a deal done by the end of the year. general consensus according to the traders i have spoken to is there's going to be a deal for over a 400,000, less than the one million dollars threshold and some sort of deal fair and one thing i want to point out is i was talking to somebody from the futures pit, art and no one has identified the fact about only do we have the fed news last week, not the fiscal cliff this week, those could be a lot of reactions to the fact that many funds in this are under invested in the stock market, over invested in the bond market and if it starts to look like we would get a deal by the end of the year you a lot more buying in the stock market, we are gettin

as they point out all the details, david asman pointed ou% nancy pelosi -- neil: why is he brilliant?sa: he is not more brilliant than you are. neil: he said he is brilliant, and you just said here is neil. back to david and his silly point. melissa: i'm afraid to even bring this up. i will let you judge if it is smart, nancy pelosi basically accepted speaker boehner's proposal back in may. said they should expire and we should use resulting revenues to pay down the debt. this was back in me, like her own idea, great thing and we should go forward with it. that is the offer from speaker boehner. neil: he is right about that, stating the obvious. lori: you hit a nerve, didn't you? neil: they said a good deal would be $3 in spending cutting everyone dollars tax hikes, but we're looking at a best case scenario $1 in spending cuts or $1 in tax hikes. warming up leftovers and like companies were to do that, think they would be landing in jail, but that is what we're left with. that is what i said be careful of the deal constructed that way because we might live to regret it, especially one

stuart: david asman was asking if they have water. >> they do except when it is not raining so much.ichigan is talk in detroit. if i am thinking deep discount lot of people are rushing to downtown detroit. [talking over each other] stuart: how many apartment buildings of 150 units are for sale in detroit? charles: i would think a lot. >> i m not -- [talking over each other] charles: that is not -- [talking over each other] dave: how much of the single apartments going for now? >> anywhere from $85,000 to $110,000. stuart: that is what you're buying at in scottsdale. what is your upside potential? what is your target? >> i am comfortable making a low teens but i can make high teens. stuart: courier? courier? >> yes. stuart: not bad. charles: are you worried the mentality may shift in this country where people once again say i don't want to rent, i want to own because it is so much, so expensive to rent and so many parts of the country -- >> it is. i always maintain any property i have is the best one in its market class in that area. even when you take a downturn my properties have al

david asman is here. nicole petallides is there on the floor of the new york stock exchange.t's just crossing. we have the latest reading on the homebuilders sentiment. we got a number for you. it is 47. that's a sentiment indicator. it's up for the 8th straight month. i think that that suggests still housing is a bright spot in the economy. you agree with me? david: specifically with homebuilders because there have been so -- that sector had been so hardly hit by what we've been going through over the past five years, the number of home contractors has decreased from something like 1.4 million down to about 600,000 right now. so there is tremendous room for new home building, and there is supply and demand issue there. charles: oh, david: a lot of people don't want to go out on a limb, they want to look for safer, there's no return now on government bonds or corporate bonds so you have to buy real estate. stuart: you agree with me as well? charles: no, i like individual stocks. david: we are not all as smart as you. that's the problem. [laughter] stuart: boehner is in a meet